Technology and database company Zaio Corp. says that, effective immediately, it has ceased all of the operations of its wholly owned subsidiary Zaio Inc. An orderly sale of the subsidiary's assets and payments to creditors will be arranged by an appointed third party, and all employees of the subsidiary have been provided notice of termination.
Zaio Corp. adds that it intends to maintain its current relationships with appraisal firms and zone owners, and redeploy its rollout strategy at a more favorable time in the economic cycle.
Zaio will continue to conduct its business operations through its head office in Calgary, Alberta.
Source: Zaio Corp.