Feeds

Y2K bug eats into VC deals

Investments will be held over to avoid impact of date change

  • alert
  • submit to reddit

Internet Security Threat Report 2014

UK venture-capital firms are delaying business deals for fear of the Y2K bug, according to a BDO Stoy Hayward report. Venture-capital houses are postponing acquisitions and sales until next year due to concerns that companies are not ready for the millennium threat. Around 34 per cent of the 96 venture-capital firms questioned by accountancy firm BDO Stoy Hayward forecast fewer deals in the last three months of this year – and all because of the bug. Peter Hemington, head of mergers and acquisitions at BDO Stoy Hayward, said: "Owners of companies wishing to sell or seeking finance could find it difficult to get their deal away in the last quarter." He advised companies to act quickly to get a sale in late summer or early autumn to give buyers time to iron out possible glitches. Companies most likely to be affected by the bug were financial services, IT and distribution businesses, said Hemington. "A couple of houses have said off-the-record their investment committees are demanding good reasons not to delay acquisitions in affected sectors in the last quarter until after January," he added. The findings follow last week’s statement by Taskforce 2000, the government watchdog, that 300 of the UK’s biggest companies had not started to prepare for the bug. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.