Feeds

Legend takeover talks result due soon

Might happen, might not...

Bridging the IT gap between rising business demands and ageing tools

Legend Communications is due to make an announcement about a possible take-over "in the near future", the Lancaster-based ISP and VoIP outfit said today.

Two months ago Legend confirmed it was "engaged in preliminary talks, which may or may not lead to an offer being made for the company". Although it is still remaining tight-lipped about possible suitors, both Pipex and Scottish telco Thus have been linked to the company.

News that the ISP might have managed to flog itself comes as Legend reported diving into the red despite a sizeable increase in revenue.

For the six months to September turnover increased by 38 per cent to £9.4m compared to H1 2004. But the ISP turned a profit of £103,000 in H1 2004 into a pre-tax loss £1.66m this year.

The last four or five months have proved tricky for Legend. In August it issued a trading statement warning of a "downturn in trading" caused by tough competition in the broadband sector. It also warned investors it had been hit by two bad debts totalling some £200,000.

As a result Legend shed 57 staff helping to save £120,000 a month while all executive directors took voluntary pay cuts. ®

Application security programs and practises

More from The Register

next story
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
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
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
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
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.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.