According to media reports, Zilingo Pte, a Singapore-based apparel supply chain technology startup, has sold its technology assets and acquired entity Ncinga Innovation to Zurich-based ecommerce management software provider Buyogo AG. Both parties completed the transaction earlier this month.
The liquidation process brings to a close a high-octane drama that unfolded at the startup last year after its investors and board members were made aware of discrepancies in the company’s accounts, which were later investigated by risk and financial advisory solutions provider Kroll.
Ankiti Bose, the firm’s former CEO, was initially suspended and then fired in May of last year, according to the reports. Zilingo will facilitate the movement of those employees who wish to join.