Feeds

Jungle buys Software Warehouse ahead of planned IPO

One hand washes the other

  • alert
  • submit to reddit

High performance access to file storage

Steve Bennett's Jungle.com is to buy his PC mail order business Software Warehouse. The online music and IT venture expects to complete the share swap by the end of April, giving Software Warehouse shareholders 15 per cent ownership of Jungle. Through the deal it will take Software Warehouse's mail order, warehouse and logistics businesses. Jungle has also bought its business-to-business outfit, Corporate Direct, as well as Software Warehouse in Australia. Jungle will gain 500 staff and about £70 million in annual sales through the deal. It does not, apparently, want the chain of computer shops, which Software Warehouse plans to offload to a separate buyer. After the share price drop of online monsters such as lastminute.com, this reorganisation of Bennett's companies should put some solid logistics behind Jungle, which is expected to IPO imminently. "This will give Jungle a much better turnover and turn it into a bigger company," said Bennett, who declined to comment on flotation plans. The sale of Software Warehouse's retail arm, which is expected to take the form of a management buy out, should be completed in the next couple of months. Last August, Venture capitalist 3i agreed to pump £10 million into Jungle. ® Related stories: Jungle customers earn discounts through free ISP Jungle.com doubles first month sales target 3i drums beat for Jungle online

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Nokia offers 'voluntary retirement' to 6,000+ Indian employees
India's 'predictability and stability' cited as mobe-maker's tax payment deadline nears
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Mainstay ROI - Does application security pay?
In this whitepaper learn how you and your enterprise might benefit from better software security.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.