Feeds

Freecom.net buy shows up teenage Web firms

And lo! Good business sense prevails. Clicks for bricks

  • alert
  • submit to reddit

Internet Security Threat Report 2014

Freecom.net has coughed up 31.9 million for accounting software business Systems Union. Billed as a rejection of the dot.com model, it is simply a case of a businessman, Michael Williams, using the inflated price of Net ventures intelligently, rather than running headlong into a wall like a hormone-crazed teenager. The blind faith and frequent stupidity of Web companies has made Williams' business sense look like a next-generation model. It is far from that - in fact, it is the classic case of buying stability with cash. It's not even new within the Internet economy. There are many companies doing just this (some well, some not so well) but then "Net firm buys into safe bet" is hardly a sexy headline. Williams, Freecom's chief executive, has done a grand job. As well as Systems Union, Freecom has also acquired another accountancy software company, Pegasus (lowish/medium-end, Systems Union is medium/highish-end) and Web site designer Oneview.net. He has used the dotcom cash pile (and of course shares in itself) to build as a firm foundation and allow Freecom to go one of several ways. Becoming an ASP (applications service provider - hiring out software to firms over the internet) is certainly one of them. Then, with this initial setup completed, Williams says he will concentrate on developing e-commerce services for the recently acquired customer base, and throws in the catchline about leaving the flawed dotcom "cash-burn" model behind to get the press interested. Shares have barely budged though. But as we know, the City is always right when it comes to Internet stocks. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
HBO shocks US pay TV world: We're down with OTT. Netflix says, 'Gee'
This affects every broadcaster, every cable guy
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
SCREW YOU, EU: BBC rolls out Right To Remember as Google deletes links
Not even Google can withstand the power of Auntie
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
America's super-secret X-37B plane returns to Earth after nearly TWO YEARS aloft
674 days in space for US Air Force's mystery orbital vehicle
10 Top Tips For PRs Considering Whether To Phone The Register
You'll Read These And LOL Even Though They're Serious
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
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.