Picsolve sold out of administration, saving 600 jobs
Posted on June 23, 2020 by Alistair Hardaker
Over 600 jobs have been saved at Derby-based Picsolve after it was sold out of administration.
The firm supplies digital photography and video memorabilia solutions to tourist attractions.
Joint administrators from Deloitte have sold the company to PomVom UK, a newly-incorporated entity of Tel Aviv-based PomVom, an AI tech company that creates real-time digital photography experience in amusement parks, events and sports.
The sale means Picsolve’s 607 permanent employees will transfer to the new owners, alongside its 35 sites in the UK and Europe.
Matt Cowlishaw and Richard Hawes were appointed as joint administrators to the company on 4 May.
Cowlishaw said: “We are really pleased to announce the successful sale to Pomvom.
“The combination of technologies should provide a compelling offering in the market. We would like to thank all of the company’s employees for their continued support and we wish the new owners every success for the future.”