The Boca Raton, Fla.-based company, which hosts Web-based intranets, told customers on Thursday that it is ceasing operations later this month. Blaming "market conditions" for its downfall, HotOffice directed customers to rival Intranets.com.
"Like many Internet companies, despite intensive efforts, our inability to raise capital in the current market conditions left us without options," HotOffice said in a note to customers. "We have enjoyed serving our customers and are doing everything we can to ensure a smooth transition."
On its Web site, Intranets.com welcomed HotOffice clients.
"We want to help make your move from HotOffice to Intranets.com fast and easy," Intranets.com said in a note on its site. "To get you started, we've created a complete step-by-step guide on transitioning your HotOffice to Intranets.com."
HotOffice and Intranets.com representatives did not immediately respond to calls seeking comment.
Intel and Staples both held stakes in HotOffice.