Nyriad on Sale – Episode 2

A few WW storage observers received yesterday a copy of the letter sent by Derek Dicker, CEO of Nyriad. Here is a copy below.

I’m reaching out to provide you with a final update on the Nyriad sale process. With the assistance of a third party, the Nyriad Board has completed three transactions for the sale of the majority of the company’s assets: 

• The first transaction involved the sale of Nyriad’s patents; 
• The second transaction entailed the sale of the vast majority of Nyriad’s remaining system inventory; and
• The third transaction secured support from a third party for Nyriad’s UltraIO customers, who requested to maintain systems through the balance of their support contracts. 

We are now in the process of paying all of the company’s creditors. The management of the company will soon be transitioned to a third party who will complete a managed wind-down process.

I want to personally thank you for your interest in the process and coverage of the company throughout its journey. Your support has been deeply appreciated, and I wish you the very best in your future endeavors.