Expand Networks has moved swiftly to assure channel partners and customers that recent reports of receivers being appointed do not spell the end for the WAN optimisation specialist.
According to reports an Israeli court appointed a receiver after Plenus venture Lending Fund petitioned the court after tiring of the time it was taking for the millions it was owed to be paid back.
But a statement issued from Christian Honore, vice president sales at EMEA, this morning the vendor has moved to ally fears stating that it was very much business as usual.
"We want to set the record straight to allay any concerns you may have following recent reports and speculation regarding Expands' business operations and financial viability and to emphasize our on-going commitment to support customers and partners," he stated.
"Be assured that it is very much business as usual at Expand Networks and, most significantly, in our support and commitment to you as a customer. We continue to innovate and achieve market success and validation with our growing customer base, as well as the ongoing development, support and commitment to our existing customers and partners," he added.
The vendor has undergone a change in its capital structure following the legal process kicked off by its lead venture lender but the statement added that this development "does not affect the company's financial viability nor does it detract from our strategy or business activities."
"We continue to enjoy the backing and support of our lending partners and this process should allow new strategic investors to join the company. As a management team we are fully committed to help our customers meet the challenges they face in their businesses through technical innovation, R&D, services and support," the statement added.