Then what was it? Genuinely curious what happened here...
The note mentions a receiver, which means the company is being liquidated by a court, which implies that it's effectively (though not technically) bankrupt.
From that post, it sounds like an asset acquisition.
In other words, they bought IP: source code and any related rights.
I didn't specifically ask, but from what I understood they were all gone and this is just assets.
Plus a lot of talented people jumped ship before it sank on account of the management team.