Videlli Limited
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| Private | |
| Predecessor | ERG Group |
| Founded | 2008 |
| Headquarters | Balcatta, Western Australia |
| Website | http://www.videlli.com |
Videlli Limited (formerly ERG Group) is an Australian company that previously developed automated fare collection for transit systems. The name change was put into effect on 9 March 2009 as part of a major corporate restructure. To pay its debts, incurred as a result of the terminated Tcard contract, Videlli sold its operating assets to Vix Technology on 31 December 2008. The restructure left Videlli with the potential return from its Tcard litigation as its only asset. Videlli was delisted from the Australian Securities Exchange on 30 June 2009.
Videlli retained a minor shareholding in Vix Technology, finally sold to Vix Holdings Ltd for $5 million in 2013. The one ordinary share had previously been reported in financial statements as having no value.
The contract to develop the Tcard system for the New South Wales Public Transport Ticketing Corporation (PTTC) was terminated by the New South Wales government on 23 January 2008. The government announced their intention to recover the project costs from ERG.
Videlli lodged a countersuit in May 2008 to recover over $200 million in costs.
The NSW government was allowed to withhold some evidence in the case.
The litigation was settled in February 2012. Videlli paid an additional $5 million in addition to the $27 million previously recovered by the government.
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Wikipedia