Networking equipment vendor Zoom Telephonics is expected to confirm later today that it has secured the European assets of bankrupt modem maker Hayes.
Hayes' entire assets were sold at auction last month after the company failed to emerge from Chapter 11, a filing made to protect it from bankruptcy in October.
Zoom is believed to have purchased Hayes Europe in the auction, as well as Hayes' asynchronous digital subscriber line (ADSL) laboratory in the US.
Both Hayes and Zoom refused to comment, but sources say a preliminary confirmation is due later today, followed by a full announcement on 15 March.
Hayes Europe employs 25 people in sales, marketing and administration, all based in Camberley, Surrey. R&D in the UK was stopped after the Chapter 11 filing.
Other parts of Hayes are believed to have been snapped up by various bidders, including the company's former chief executive Ron Howard, Compaq, Xircom and Modem Express.
Late last year, Hayes closed a manufacturing unit in Norcross, Georgia, and its offices in Sar, Hong Kong. Its total workforce has shrunk in the past few years from around 1,200 to just a few hundred.
Hayes first filed for Chapter 11 in 1995, but resurfaced the following year. However, the company's troubles continued when its proposed merger with Micronics failed and it instead gave up its independent status to merge with Access Beyond in 1997.
Despite its long standing in the modem business, Hayes has struggled alongside former rival US Robotics, which is now under the wing of fast growing networking giant 3Com.
Boston based Zoom makes modems, routers, gateways and wireless Lan products.
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