updated 12:10 am EDT, Thu November 1, 2012
Banks, government clients abandoned; future uncertain
Virtual desktop vendor and thin client manufacturer Pano Logic has gone out of business. While there has not been any official confirmation by the company either by press release or a website update other than some sections removed, Pano Logic's former PR firm has acknowledged the shutdown. The rapid closure leaves banking industry and federal government customers without a source for support and repair of existing units, and one notable client with very little product delivered despite a large payment for services.
Bridgetown, MO-based Vantage Credit Union has been attempting to get code updates from the defunct company for two weeks, with absolutely no response from the company. The credit union had been contracting with Pano Logic for two years, and uses the Pano Logic devices at nearly all its branches. Sources at Vantage Credit claim to have been in regular contact with Pano Logic until the middle of October.
Electronista spoke with an IT manager for the federal government who runs a 150-unit Pano Logic system. The source said that he spoke with a Pano Logic employee on the telephone who was in the building for the last time and was referred to an assignment firm who is responsible for selling off excess inventory and company assets to offset creditor demands on the company. "This is going to cost the taxpayers a great deal of money," our source said. "My entire network is going to have to be replaced with a different vendor's solution at some point since I can't get support, and that won't be free."
Network Data Services associate Sean Kubin had a similar experience with the company and told Network World that "we needed tech support and couldn't get anyone to pick up the phone or return our messages. Finally, some VP picks up the phone -- he just happened to be there cleaning out his desk -- and he says that out of the blue everyone was told they were gone." Kubin added that a contact at wholesaler Ingram Micro informed him that the closing had "something to do with a cease and desist order that they couldn't fight."
Redstone FCU in Alabama had recently announced it was replacing hundreds conventional PCs with the company's end-user system. According to sources familiar with the matter, a "significant down payment on the installation" had been made to the company.