Prior to the purchase, Trade Only Limited had a license for seven years to use Technologo's virtual sample technology in the U.K. At the same time, ASI had an exclusive license to use the same software in the United States until January 2012, which was excluded from the acquisition.
Altitude Group reported that on April 8, 2011, ASI filed a request for a temporary restraining order, alleging that the acquistion breached ASI's exclusivity contract. The restraining order was not granted and the acquisition completed, but a hearing on the matter has been scheduled for May 2, 2011.
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.