Feeds

Cable giant NTL to buy Workplace

Mystery suiter revealed in £81m bid

  • alert
  • submit to reddit

The essential guide to IT transformation

NTL will buy Workplace Technologies for £81 million in a deal worth 228 pence per share. The deal is due to be completed in 28 days' time and will see Workplace become wholly owned by NTL. The offer values Workplace stock 57 per cent higher than its closing middle market price on August 17, the day before the company announced it was in buyout talks. The telecomms provider said the acquisition would improve its data networks business in the UK and Ireland. "With the complementary strengths that Workplace Technologies provides, NTL will be in a position to increase the long-term growth of our business services division and enhance value for our shareholders," said NTL CEO Barclay Knapp. The move coincided with Workplace announcing a pre-tax loss of £300,000 for the six months ended June 30. The loss followed the acquisition of LanBase, which resulted in £1.5 million goodwill costs, and compared to the previous year's £1.3 million profit. The Hertfordshire-based networking reseller posted sales of 56.2 million, compared to the previous year's £40 million. The loss per share was 2.34 pence. Workplace’s share price was up 12 pence to 225 pence this afternoon on the back of the announcement. Yesterday the reseller saw shares jump 46 per cent to 213 after saying it was in takeover talks. ®

Secure remote control for conventional and virtual desktops

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Facebook, Google and Instagram 'worse than drugs' says Miley Cyrus
Italian boffins agree with popette's theory that haters are the real wrecking balls
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Facebook to let stalkers unearth buried posts with mobe search
Prepare to HAUNT your pal's back catalogue
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

Endpoint data privacy in the cloud is easier than you think
Innovations in encryption and storage resolve issues of data privacy and key requirements for companies to look for in a solution.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Advanced data protection for your virtualized environments
Find a natural fit for optimizing protection for the often resource-constrained data protection process found in virtual environments.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Next gen security for virtualised datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.