Innaworks closes shop

Innaworks, which makes application-development tools for mobile phones and handheld devices, has dismissed its 37 staff and closed its office.

'The company is officially put under provisional liquidation,' said chief executive Daniel Schneersohn late last night.

Mr Schneersohn, a former executive at Symantec Asia, had taken over the start-up in recent months and renamed it from media60X.

Started in 1997, the company had received funding worth US$5 million in March last year. In early April this year, Mr Schneersohn had said it would run another year before seeking investment.