Think3 Restarts Operations

Dr. A Ferri, the court appointed trustee of think3 has “restarted operations” at think3. Today the think3 web site has this inviting “Come In. We’re Open” sign on its home page.

This takes you to a notice that reads:

Upon authorisation of the Appointed Judge of the Court of Bologna dated 4 May 2011, Think3 Inc. restarts its operations pursuant to Section 104 of the Italian Bankruptcy Law. Think3 Inc. will be managed by the trustee, Dr. A. Ferri, and the Creditors’ Committee, under the supervision of the Appointed Judge.
As a consequence, Think 3:
– provides customer care services, with its long trained personnel and through its official website THINKCARE;
– manages the licenses and the activation codes;
– sells its products directly through the authorized dealers.

Just yesterday I had a think3 customer send me an email expressing concern about getting his think3 software activated the next time his machine ID changes. I guess this answers his question, at least for now.

As I see it, this is becoming a bloody mess. I want to know more about the composition of this Creditor’s Committee. What is their agenda? Is it just  to get their money back? Of course, they need to get paid. They didn’t work or offer goods and services for free. But what is the long term plan here? I am talking about the future of the think3 product line and the customers who invested in it. Is anyone looking out for them?

The fact is that think3 cannot be run by a committee. If Versata is not the way think3 is headed then Dr. A Ferri and the Creditor’s Committee, with the blessings of the judge, all need to sell the think3 IP, that they claim to have legally repossessed, to an able CAD vendor. My question is if no CAD vendor wanted Think3 or its IP before, why would they want it now? A lower price? Maybe. And by the way, which CAD vendor would want to touch the think3 IP in this mess and take on a legal battle with Versata? If reports are to be believed just about all of think3 developers have been fired or laid off. Is the Creditor’s Committee going to hire  them back and continue developing the think3 line of products?

On their part, Versata has vowed to fight it out in court (see “Versata Vs Think3 Administrator“). I don’t like this one bit. If any of you can shed some light on the Creditor’s Committee or where I can contact them, leave a comment or drop me a line at deelip (at) deelip (dot) com. All my efforts to contact the trustee have been in vain. On the contrary, Versata has been very open and have replied to just about every email that I have sent them. Not taking sides here. Just stating facts, that’s’ all.

  • Jack

    I am a Think3 customer…I can not access the customer care portal…may be it will take some time from now….but I am happy that things are falling in place as I need to do my license import and export….Good ….good.

  • Nainar

    Did Versata ever tell you who they bought their IP from? And on what ground the IP was sold? They should be forthcoming with that also instead of just saying millions of Euros. Who are the independant auditors they are talking about? For a company that was making $30 million, what will be the value of the IP? When Solidworks was bought over for @$310 million, it was making a little less than $100 million. When Ansys acquired Fluent for @$560 millions, Fluent was having a revenue of around @$120 millions. Generally the IP goes for 2-3 times the annual revenue for a company with solid customer base and technology. And what is the amount Versata paid for acquiring the IP of Think3 products from the “Ghost company?” Can they come out in open with these details? Why dont you ask them these questions and see how Versata responds Deelip? See whether you get any reply..

  • Andrea Ferri think3 trustee

    Dear Deelip,
    pleased to meet you and thanks for your effort in sustaining the truth about the recent events occuring to think3. I have seen in your post “All my efforts to contact the trustee have been in vain” and I’m a bit surprised. We constantly check the mailbox but we didn’t see your message/s. May be we didn’t see it: in effect we’re receiving hundreds of requests from Customers asking us the support and the help they say they were no more receiving since the last 6 months. Any way I’m here and I will be very happy to respond all your questions. I suggest you to send them to me by email, or to post them here. I’ll respond and I’ll also send to you all the documentations that you may need. Sincerely. Andrea Ferri, think3 Inc Trustee

    • Andrea, thanks for getting in touch with me. I have sent you a list of questions.

    • Rahul

      Wow…Thanks Dr. Andrea. Really nice to see and hear from you directly.

  • JhonJhon

    Great opportunity Deelip. Now you can ask any questions you want.

  • Nainar

    Fantastic!! The truth will come out for sure now. What has been done in the last six months, all the facades of Versata will come out in the open. Thank you Dr.Anrea for showing the acumen to come here and tell the facts and answer questions.

  • Jim

    I tried the thinkcare site, no surprize, it did not work. I still can’t access my license download features. Just sent an email with my concerns to the new CEO, anyone care to gamble on his rapid response? Will the company have any liability if I can not access all of the models created & saved in native think3 format rendered inaccessible by not having access to a license?

  • gaar

    I am so happy that think3 is with good people now. Good luck to think3 & it’s fantastic products.

  • Rony

    Deelip can you please find out for me when the customer care site will be up n running….a lot of our work depend on the site…rite from training new people, license export and so on…it is a beautiful thing think3 has created…

  • JhonJhon ti ha inviato un link a un blog:

    the official think3 – official blog is there…

    Blog: Think3 Official Blog
    Post: Il Blog Ufficiale di think3 – The official blog of think3

  • Nainar
    website seems to be down!!
    Court action or server failure????

  • Ah ah ah
    still down…. interesting….