Augmented reality and computer vision company Blippar has a new lease on life, as former investors Candy Ventures has completed a successful bid to acquire the assets of the coated company.
Blippar entered the administration (Britain's bankruptcy version) month after a dispute between investors. In a statement, Candy Ventures blames Khazanah National Berhad, Malaysia's sovereign wealth fund, to block additional funding that would have enabled Blippar to avoid administration.
Shortly after a British court, Paul Appleton and Paul Cooper appointed David Rubin and Partners as the joint administrator who oversees the sale of Blipper's assets, Candy Ventures emerging as a favorite to buy Blippar. The company is the technical investment arm of Candy Capital, the private family agency that manages UK real estate developer Nick Candy's Candy Capital. Candy and his brother, Christian, have earned the nickname "Brothers Bling" in local British media because of their glamorous lifestyle.