StretchSense sold to new owners
AUCKLAND, 1 October, 2019 – After filing for Voluntary Administration in July, Penrose company StretchSense has now been sold to new owners.
Tony Maginness and Kevin Pitfield from Baker Tilly Staples Rodway were appointed administrators of smart sensor company StretchSense Limited after it filed for Voluntary Administration (VA) on July 15, 2019. StretchSense was then placed into liquidation on 30 September.
The administrators are pleased to announce that after an extensive process StretchSense has been sold to New Zealand owners who will continue the company’s mission to create the world’s best stretchy deformation sensors and motion capture gloves.
The company’s soft, stretchy, and highly accurate sensors have broad application in the sports and fitness, VR/AR, motion capture, entertainment and wearables industries.
The new owners will take over operation at StretchSense’s premises in Penrose and will continue to invest in research and development.
StretchSense Limited (In Liquidation) will continue to trade up to completion of the deal at which point the company assets and customer orders will be passed to the new owners.