Posters Name: Kagato
Posters Email: firstname.lastname@example.org
Subject: VisionTek Goes Under
I first heard rumors floating around about this last night but dismissed it as just rumor. Now, with other sites like [H]ardOCP reporting in on the rumors, it appears that one of the biggest Nvidia graphics card manufacturers (here in the US at least), VisionTek, has indeed sunk. Word:
Friday, after more than a week of abortive management restructurings and a failed deal with an investment company, VisionTek called it's remaining employees together and issued their final checks.Rather disheartening, considering VisionTek was always the first to the market with Nvidia's newest badboy of chips. I imagine this will have a rather lasting effect with the folks at Nvidia, considering they've been working to get the new NV30 out for the holiday season, and now one of their largest North American distributors is gone from the picture. This news probably has ATi folks plastered with smiles from ear to ear today.
Also, they notified their ex employees, and those who'd come in to collect their severance checks, that no more severance was being issued. And that all deals with them as to severance packages was null and void.
VisionTek is now owned by the bank, which is in the process of liquidating the company.
This has already claimed one of VT's suppliers, when VT failed to make payments, the supplier folded. This may also affect TotalEMS, a manufacturing company that was a supplier for VisionTek, and is owned by the "owners" of VisionTek, as TotalEMS was picked up in bankruptcy proceedings to begin with.
Also, for those waiting on, or sending in mail-in rebates for VisionTek products? Don't bother. The rebate management company stopped honoring the rebate offer when VisionTek stopped paying them.