Possible partner found for tech firm Sumaria Systems to aid EnvisioNet

BANGOR – A prospective merger partner from Massachusetts is loaning $375,000 to EnvisioNet Computer Services Inc. today as part of a total financing package of $1.5 million.

Sumaria Systems Inc. of Danvers, Mass., is one of several companies that have signed letters of intent to purchase EnvisioNet, according to an e-mail sent by founder Heather Blease to employees late Friday afternoon. The e-mail was posted on an Internet message board shortly after it was received.

“Sumaria is part of the financing proposal; however, this is an ongoing process and does not in any way imply that a merger with Sumaria is a ‘done deal,'” Blease wrote to employees. “It is really the beginning of the negotiation process in many ways.”

In an interview Sunday evening, Blease said Sumaria is “one of four companies in heavy negotiations” for a merger.

The companies, she said, are interested in EnvisioNet because of its personnel, its telecommunications setups and its ability to handle growth.

“They actually have needs for new business … from our facilities,” Blease said.

EnvisioNet and representatives from the agencies or companies loaning the tech support firm $1.5 million will be meeting in U.S. Bankruptcy Court in Portland this morning. The meeting is scheduled for 9 a.m.

The Finance Authority of Maine will be loaning $500,000 to EnvisioNet, according to court documents filed late Friday afternoon. FAME required that EnvisioNet secure twice that amount from other sources before it would authorize the loan.

Other sources include $425,000 from the state Department of Economic and Community Development and $425,000 from Coastal Enterprises Inc. CEI’s board must approve the funding. FAME and CEI are creditors owed money by EnvisioNet, according to court documents.

Sumaria is familiar with customer support. The company runs an on-site maintenance and help desk for municipalities, which provides hardware and software troubleshooting to 7,000 microcomputer users, according to the company’s Web site.

Sumaria Systems, which has nine offices nationwide, provides network and software engineering, Internet solutions, information and financial management, and acquisition support.

The financing being secured today is the third time EnvisioNet has received working capital since filing for Chapter 11 bankruptcy protection last month. Earlier this month, the company received approval from Bankruptcy Court Judge James Haines Jr. to receive $638,000 from venture capitalists based in Massachusetts, and a $5.6 million revolving line of credit from KeyBank.

Any financial transactions by EnvisioNet need to be approved by Haines under the rules of Chapter 11 bankruptcy protection. Under Chapter 11, EnvisioNet asked for time to reorganize its finances or find a merger partner.

The bankruptcy protection filing came a few weeks after EnvisioNet laid off more than 600 of its 2,000 employees because of the reduction in workload from one of its biggest clients, Microsoft Networks. About two weeks ago, the company confirmed that another 110 employees in Orono left the company either because their jobs were cut or because of attrition. Full-time employees were working less than 28 hours per week, but were receiving full benefits.

EnvisioNet has two major clients, Microsoft Networks and Dell Computers. Their customers who need help call a number and are connected with EnvisioNet employees, who then answer their questions.