Technology services company UXC yesterday acquired local educational software developer, MXL, which spiralled into voluntary administration on 9 April this year.
The administrators, Rogers Reidy, today confirmed that the deal had been completed with a vast majority of the company sold to UXC.
"We're pleased with the outcome of the sale," the director of Rogers Reidy, Geoff Reidy, told ZDNet Australia, adding that the creditors had been satisfied with the transaction.
Earlier this year, there had been hints that MXL and its holding company Entellect were flagging.
Australian IT services company CSG had previously tried to sell rights to its education software to Entellect in a $9.75 million deal. However, Entellect failed to meet conditions for the sale to go through.