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Research Solutions Closes French Business

Research Solutions Inc. announced on Monday it has closed a subsidiary company in France and hired an investor relations firm to reposition the company as a digital-only operation. The Encino company, which provides copies of academic journal articles to scientists and researchers, was authorized by its board on Aug. 18 to sell its subsidiary Techniques Appliques aux Arts Graphiques, or TAAG, which provided printed copies of articles to European customers. When Research Solutions couldn’t find a buyer for TAAG, it went into administration, the European equivalent of bankruptcy, on Sept. 15. The administrator has taken control of TAAG’s bank accounts, and a hearing is scheduled for Nov. 3 on how to liquidate the assets. “Today marks an important milestone at Research Solutions with the divestiture of our TAAG printing and logistics subsidiary,” said Chief Executive Peter Derycz in a statement. “It represents a major step in our transition from a hybrid digital-print business to a fully digital solution. In connection with the strategic move, the company hired investment communications firm Liolios Group. During the next several weeks, Liolios will schedule road shows and financial conferences for management and devise a corporate investment message for the company. Shares closed up 1 cent to 71 cents in over-the-counter trading.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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