Feeds

Compel snaps up Web design company

£2.5m now and a promise of more to come

  • alert
  • submit to reddit

Protecting users from Firesheep and other Sidejacking attacks with SSL

Compel is forking out up to £10.5 million for Pangaea Ltd, a UK Web design and Internet services company. Guilford-based Pangaea is being kept as a stand-alone business within the Compel group, but was this morning renamed Compelreach. Pangaea's clients include Benetton F1, HSBC and Yellow pages. The company made a pre-tax profit of £572,000 for the year ended 30 September 1999, on sales of £1.3 million, and has net assets of £381,000. Initial consideration for the buyout is £2.5 million – consisting of £1.75 million cash and £750,000 million in Compel shares. The maximum spend will be £10.5 million, depending on Compelreach's performance, Compel said. In a trading update, Compel said its own financial performance was in line with expectations. "Early indications suggest that companies are passing through the year 2000 date change without serious incident," it stated. "This lends weight to Compel's strong belief that a marked upturn in expenditure levels will begin in the first half of 2000. "Compel remains very positive about its market." This came three months after the company issued a profit warning for its financial year ending June 2000, where it blamed Y2K for its woes. ® Related stories: Compel declares record profits Compel rings the changes with new division

Website security in corporate America

More from The Register

next story
Hey, Scots. Microsoft's Bing thinks you'll vote NO to independence
World's top Google-finding website calls it for the UK
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Apple CEO Tim Cook: TV is TERRIBLE and stuck in the 1970s
The iKing thinks telly is far too fiddly and ugly – basically, iTunes
Israeli spies rebel over mass-snooping on innocent Palestinians
'Disciplinary treatment will be sharp and clear' vow spy-chiefs
Huawei ditches new Windows Phone mobe plans, blames poor sales
Giganto mobe firm slams door shut on Microsoft. OH DEAR
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
OECD lashes out at tax avoiding globocorps' location-flipping antics
You hear that, Amazon, Google, Microsoft et al?
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.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Security and trust: The backbone of doing business over the internet
Explores the current state of website security and the contributions Symantec is making to help organizations protect critical data and build trust with customers.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.