Feeds

Bright Station retags itself smartly

Raises £12 million

  • alert
  • submit to reddit

Build a business case: developing custom apps

UK Internet group Bright Station plc has changed its name to Smartlogik Group plc, after securing £12 million to bail out the company.

In May the outfit warned that unless it received additional funding it would run out of cash by the end of the summer.

Then, it was losing £3 million a month and only had £4 million left in the coffers.

Five directors have resigned from the company. They'll be replaced by a new batch of Monday.

Stephen Hill, CEO of Smartlogik Group plc, said: "We are delighted that the shareholders have overwhelmingly supported the resolutions.

"Their investment in Smartlogik is a significant vote of confidence both in the strength of our solutions and the future of our company in the fast growing knowledge management sector.

"We can now proceed with the business of enabling them to unlock the value of their information, which will in turn deliver real value to our shareholders," he said. ®

Related Story

Bright Station shares continue slide

A new approach to endpoint data protection

More from The Register

next story
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Nintend-OH NO! Sorry, Mario – your profits are in another castle
Red-hatted mascot, red-colored logo, red-stained finance books
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
prev story

Whitepapers

7 Elements of Radically Simple OS Migration
Avoid the typical headaches of OS migration during your next project by learning about 7 elements of radically simple OS migration.
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.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Solving today's distributed Big Data backup challenges
Enable IT efficiency and allow a firm to access and reuse corporate information for competitive advantage, ultimately changing business outcomes.
A new approach to endpoint data protection
What is the best way to ensure comprehensive visibility, management, and control of information on both company-owned and employee-owned devices?