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TVonics - acquired by Contact Holdings


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Old 29-02-2008, 22:06
farpoint
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They are no more! See http://wck2.companieshouse.gov.uk/7a...49/compdetails for the proof.

Funnily enough, there is now a new company listed called Tvonics Solutions Ltd but at a different address....draw your own conclusions....
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Old 29-02-2008, 22:25
MikeU11
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This particular Tvonics is in Hale, Cheshire, near Manchester.
As far as I'm aware, the PVR making TVonics is still in Bridgend, South Wales, and have been since their inception in 2004 by a group of ex-Sony engineers. I don't think there's any connection between the two. Have a look at http://www.tvonics.com

Mike
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Old 29-02-2008, 22:33
farpoint
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Ah, there is. Look at the bottom of their website, it says

"TVonics is a trademark of TVonics Solutions Ltd."

So it looks like they've ducked into administration to avoid all their debts and have been reborn. How dodgy is that?
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Old 29-02-2008, 22:37
PTD
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This particular Tvonics is in Hale, Cheshire, near Manchester.
As far as I'm aware, the PVR making TVonics is still in Bridgend, South Wales, and have been since their inception in 2004 by a group of ex-Sony engineers. I don't think there's any connection between the two. Have a look at http://www.tvonics.com

Mike
... where the news link, top left, shows Tvonics have been acquired by Contact Holdings, and TVonics Solutions has been established for trading. In effect it looks like business as usual for TVonics, now trading as TVonics Solutions.
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Old 01-03-2008, 11:05
MikeU11
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Hmmmm....getting more confused.

When you click the newslink, it reports they indeed have been acquired by Contact Holdings but it does read rather more rosily than administration. Contact Holdings are in Stockport at yet another address (but not far from Hale!):-
Contact Holdings Limited
Grafton House
Haigh Avenue
White Hill Industrial Estate
Stockport
Cheshire
SK4 1NU

They say:-
“The acquisition of TVonics represents an exciting development in the growth of Contact Holdings. We are delighted to be able to apply our supply chain expertise and financial strength to extend what has already been a great UK success story. We are committed to make TVonics a leading European supplier of quality consumer electronic products.”

TVonics says:-
“With the financial strength of the Contact Group behind us, we can now invest in enhancing our existing products and commencing the development of a new generation of High Definition MPEG-4 based Digital TV products. We are recognised in the UK market for offering easy to use, energy efficient and reliable digital TV receivers and recorders. Now we can look forward to offering these core brand values to TV viewers across Europe.”

I hope it's not propaganda speak as I do wish a home grown company success, but as always, the results will come out in the wash eventually.

Mike
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Old 04-03-2008, 19:37
Ulysses777
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This particular Tvonics is in Hale, Cheshire, near Manchester.
That is the administrators address. It's normal practice for a company in administration to have its registered address changed to the same as the administrators.

So it looks like they've ducked into administration to avoid all their debts and have been reborn. How dodgy is that?
This kind of thing goes on all the time...
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Old 04-03-2008, 22:10
Paul Fellows
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Just to provide clarification and not meant to be a thread which requires comments. Many UK jobs are secured by TVonics and in the local econony. I feel the need to comment regarding the previious thread regarding the period of 1 week whilst TVonics was in administration, a legal process designed to assist companies refinance in cash liquidity difficulties.

TVonics has essentially been refinanced by Contact Holdings as described below. So end users will continue to be supported and the product range of TVonics will be expanded to keep pace with new demands from the market with a particular focus upon HD (terrestrial and satellite) and broadband connectivity.

Many small entrepreneurial start up companies endure cash flow problems as they grow quickly (we turned over £5.2M last year which is quite remarkable for a privately financed company to achieve this in 3 years). Cash flow is usually the key cause of problems for fast growing companies and only rarely do companies encountering such problems manage to attract a buyer to preserve it, let alone expand the company. In the case of TVonics, the administrator was able to accept an offer from one of TVonics creditors (Contact Holdings) to secure the staff jobs and refinance the company to fund a new R&D programme which will deliver a new range of TVonics products ready for HD roll out across Europe and the UK.

Myself and Andy have been rehired and we are just as committed as we ever were to make TVonics a UK success story. We firmly believe Britain has great talent in Engineering and Marketing. We are looking to hire great engineers, marketeers and support staff. So here is a great opportunity to be play a part yourself even.

Probably not many people know this, but TVonics Limited was initially self funded by myself (sold my property) and later on after he joined Andy mortgaged his house as well along with many months where we the two founders drew no salary. We set about to create a company which could produce very well respected products in the Freeview market and compete with major established brands.

The Logik LDR V3 (TVonics MDR-300) which TVonics designed and manufactured is rated as the easiest to use Freeview STB by Ricability. The earlier Logik LDR V2 is rated by Which as best Freeview box. We were first to market with Energy Savings Trust approved STB and DTR. first to market with Freeview Playback dual tuner DTR, first to market with a small Freeview adapter for TVs without SCARTs (MFR-200), exclusively selected to supply STBs and DTRs for Whitehaven help scheme digital TV switchover and first to market with affordable Audio Description Freeview receivers and recorders.

From a team of 4 to now 23 people and growing, the dedicated team of engineers and staff at TVonics have all worked very hard over three years to deliver a strong highly regarded product range. Its a credit to their dedication and enthusiasm that TVonics achieved as much as it did and will achieve even more in the future. No one believed at the time of its inception that we could achieve as much as we did in such a short time without VC finance or significant grant aid, but we did. We had strong technology and business partners who believed and continue to believe in what TVonics set out to achieve.

In the fullness of time when I can, I will document and praise the many organisations whom without their help and assistance we could not have achieved as much as we did. You all know who you are and I thank you.

Our aim was and is to produce easy to use, energy efficient, reliable products and offer the choice to the British public to buy British if they wish to. In an age where many of us are concerned about carbon footprints, the ability to purchase locally produced products is increasingly being demanded. Yes agreed, they may be a little more expensive but who always wants to buy the cheapest products? My car is cheaper than yours? I have a really cheap pair of shoes? Cheapness is not what we are about.

We may not always get everything right, but we always strive to produce products which will satisfy our customers.

Today we have products which meet the European Code of Conduct for energy efficiency (sub 1 watt standby STB, 1.5W standby DTR). These are levels the UK government would like to see achieved by 2010. We did it in 2007!

Right now though the task in hand is to support our end user customers (you), deliver Freeview Playback Group 2 and HD solutions for the UK and European markets. Thanks to all of our loyal band of customers who like and continue to use our products.

TVonics remains a British company with the ability to manufacture products both in the UK and in Europe.

Over the 3 years it has been running, a total of almost 90 UK jobs have been created internally and within subcontractors and partners to develop and produce TVonics products.

Best regards and thanks again to all who have supported TVonics and for your continued support.

Paul Fellows
TVonics Solutions LImited.

--------------------------
Press Release.

29th February 2008

TVonics bought by Contact Holdings

Leading UK designer and manufacturer of
easy to use, energy efficient
Digital TV Receivers and Recorders acquired.

29th February 2008. TVonics, the UK based digital TV set top box company has today been acquired by the Contact Holdings Group which specialises in contract manufacturing, product packaging and supply chain management.

TVonics has in just over 3 years, rapidly established a position in the UK market as a premier brand of quality Digital TV receivers and recorders sold through leading UK retailers. TVonics products are renowned for their ease of use and energy efficiency. The acquisition by Contact Holdings, transforms a small entrepreneurial start up company into a solidly financed consumer electronics company capable of responding to the exciting opportunities presented by Digital TV switchover and transition to HDTV in the UK and throughout Europe.

Contact Holdings intends to continue manufacturing and supporting the TVonics range of Freeview receivers and recorders servicing the existing retail customer base. In addition, the TVonics range will be extended to address the emerging strong market demand for High Definition TV reception for Terrestrial, Satellite and Broadband networks across Europe and the UK.

Contact Holdings commented “The acquisition of TVonics represents an exciting development in the growth of Contact Holdings. We are delighted to be able to apply our supply chain expertise and financial strength to extend what has already been a great UK success story. We are committed to make TVonics a leading European supplier of quality consumer electronic products.”

Paul Fellows of TVonics said that “With the financial strength of the Contact Group behind us, we can now invest in enhancing our existing products and commencing the development of a new generation of High Definition MPEG-4 based Digital TV products. We are recognised in the UK market for offering easy to use, energy efficient and reliable digital TV receivers and recorders. Now we can look forward to offering these core brand values to TV viewers across Europe.”

TVonics Solutions Limited, a wholly owned subsidiary of Contact Holdings has been established as the legal and trading entity and now owns all the Intellectual Property developed by TVonics Limited as well as all branding and trade marks.

About Contact Holdings:

Contact Holdings based in Stockport, Cheshire owns a number of companies engaged in total supply chain management, manufacturing and FMCG packaging for its Global customer base. With its presence and infrastructure across Europe, together with its supply partners and strong management team, Contact Holdings intend to maximise the true potential within the TVonics brand and product range, exploring new routes to the customer with market leading innovations and agile supply chain solutions.

For further information regarding TVonics Solutions Limited please contact:

press@tvonics.com
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Old 05-03-2008, 07:30
DavidA_UK
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Thanks for taking the time to update us. I hope the transition works out well for you and your staff.

Once you've found your feet, it would be great if you could celebrate by sending some stock to Argos
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Old 06-03-2008, 08:59
sometime
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I would like to add my thanks for taking the time to add your posting Paul. All sorts of rumours can emerge when there is perceived vacuum. However, I think your posting has provided clear facts on the matter.

It might be useful to know that I bought a Tvonics PVR, for two main reasons; it is British and it works. Something that cannot be said for many other products (you only need to read other threads).

On one selfish note, I hope the new company arrangements enable you to push on with Freeview Phase 2.

I wish you well for your future.
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Old 07-03-2008, 13:18
Not weasel
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The main point here surely is that they couldn't make any money. However good the products were and however long they worked for nothing only goes to further prove this point. Someone is getting shafted here (be it a creditor or shareholder). I wonder how much equity Paul and Andy have now? I wish them all luck.
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Old 07-03-2008, 13:37
simoncapewell
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Cash flow problems don't necessarily mean the business is making a loss. If you've got a good product and you suddenly get lots of orders, you've got to find the money to build those orders before they've been paid for by your customers. You can dig yourself into a hole by being too successful too quickly.

Access Devices found themselves in a similar situation a year or two ago IIRC.
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Old 11-03-2008, 13:52
ironeagleuk
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Digital TV set-top maker TVonics acquired by Contact

Digital TV set-top box company TVonics has been bought by Contact Holdings, which owns a number of manufacturing and packaging companies.

Three year old TVonics has built a business supplying digital TV receivers and recorders to the UK market. It is thought that the acquisition by Contact Holdings will move the manufacturing business into a new phase of growth driven by digital TV switchover and transition to HDTV in the UK and throughout Europe.

TVonics, which manufactures its products in Wales, supplied set-top boxes for the UK’s first digital TV switchover in Whitehaven in Cumbria last year.

Stockport-based Contact Holdings said it intends to continue manufacturing and supporting the TVonics range of Freeview receivers and recorders servicing the existing retail customer base.
Source & More: http://www.electronicsweekly.com/Art...by-contact.htm
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Old 11-03-2008, 14:17
welshblob
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Hmm I may have to sample a TVonics box at some point given that I'm welsh and should be patriotic oh and they also seem to use the same excellent remote control for their DTR as the Thomson Topup box does

Rob
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Old 16-03-2008, 06:32
Carl Stock
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Paul,

Thank you for providing such detailed information on the situation.

Thank you especially for the very open and personal technical support you and your staff have given me with my trusty PRISM STB, which is still going strong and really is the most reliable STB we have had so far on any platform! Very shortly, I intend to purchase at least two more STBs from you, with at least one being a DTR.

I do not see this as jingoistic in any way, but I am pleased to buy good British products. Indeed, if one has the time to look and is able to put aside a little more money, it is possible to buy many British-made and/or British-engineered products that, quite simply, work – and work very well. There are a handful of relatively small British companies like TVonics – most notably some hi-fi manufacturers – that do at least engineer their products here in the UK in their own R&D, even if some products are manufactured overseas.

Still, the case remains that other British companies provide similar support as TVonics on a quite personal level, too, with an in-depth knowledge of their products – all at a price that is often just a few pounds more than similar products. When dealing with STBs, in-depth knowledge is paramount given the variables involved in such endeavours.
When I purchased the PRISM from your website, which must be around two or three years ago now, I guess I did take a gamble, but it was well worth it! It certainly does not compare with the financial decisions you took when setting the company up, though.

I wish you all the best, Paul, as I know many other members here do, especially with regard to the future and the realisation that you put a lot of your own and others’ money into the business, which has been well worthwhile of course.

On the subject of support from customers, you can be assured of more, and do continue to ask members here where possible on suggestions and ideas, which is another area where many other British companies also do very well – requesting suggestions.

All the best.

Carl
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Old 16-03-2008, 11:02
Not weasel
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I think we all need to read Paul's post carefully. He says they had revenues of £5.2mill. Let's assume margins of 20% (which are unlikely) so he had £1mill to run his business (pay 23 people, invest in new products, provide finance for production etc etc). It is quite obvious that in this market there just isn't enough margin to make a sustainable business. Set top boxes are being sold for £10 and PVRs for £70 at retail. Even with great design this is the base-line so no one can make a success here. TVonics will almost certainly not be around in 12-18 months unless they change their business model.
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Old 01-06-2008, 10:32
itsonlymee
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With the great TV switch over imminent there's going to be a huge market out there, I would support and encourage this company because its British, help to keep the huge profits I am sure are out there, in Britain instead of feeding the fat cats in the East.
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Old 17-06-2008, 23:26
Paul Evans
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I'm still waiting for the software update that's supposed to bring series record functionality (and an end to audio-synch issues) to my DVR-FP150.

It was supposed to go out early this year, but I'm worried that it'll never go out at all.
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Old 18-06-2008, 07:43
andyhurley
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I'm still waiting for the software update that's supposed to bring series record functionality (and an end to audio-synch issues) to my DVR-FP150.

It was supposed to go out early this year, but I'm worried that it'll never go out at all.
I heard that it was due on the 30th June, but that was months ago so it could be way out. I'm still hopeful though.
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Old 21-06-2008, 22:07
paulbds
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I too am waiting for a software update for the Series link.
I am relying on the the fact that the company are recruiting means they are still viable and developing (and updating?) products
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Old 23-06-2008, 15:07
Paul Evans
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I heard that it was due on the 30th June, but that was months ago so it could be way out. I'm still hopeful though.
Still no sign of it on the DTG's website :

http://www.dtg.org.uk/retailer/download_schedule.pl
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