David Shein, co-founder of Com Tech, has invested in Sirius, the ASX-listed asset management vendor that collapsed last September.
Melbourne-based Sirius filed for administration in September, citing a slowdown in work from its core base of local governments.
The IT provider was revived through a recapitalisation proposal put forward by "corporate reconstruction" specialists Michael Pollak and Jonathan Pager.
Now there has been another turn in the saga, with David Shein appearing to bring his technology sector expertise to bear on the turnaround effort.
Shein co-founded distributor Com Tech Communications in 1987 and grew it to a 1,400-person business when Dimension Data took full ownership in 2000.
Exactly what Shein and his fellow investors hope to do with Sirius is still a mystery. He told CRN "at this stage all I can say is that I hope to add value to shareholders, customers and staff".
He said more would be revealed about the plans for the firm in April and that it's would be "around the tech space, in addition to asset management".
Sirius administrators FTI Consulting have already stripped the company of certain IP, with its e-services and planning division sold to solutions company Civica on 1 October, while its AssetMaster software was purchased by Open Office on 2 October.
Shein said it was "a shelf company that is an opportunity to do something in the tech space using that as a vehicle".
The other Sirius directors are Michael Pollak, Jonathan Pager, Joseph Fridman and Andrew Whitten.
Since selling Com Tech, Shein has been primarily focused on mentoring entrepreneurs. His projects include bar tab splitting app Clipp, shopping tool ShopReply and cash managing app Pocketbook Connect.
He is also involved in asset management software Ascetic, though stressed there was no connection with Sirius.
Last month, Shein announced his involvement in crowdfunding startup OurCrowd.
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