Feeds

Softbank gambles on Betfair

And PartyGaming loses boss

SANS - Survey on application security programs

Betfair is selling almost a quarter of its shares to Japanese investment firm Softbank.

The online gambling exchange will sell 23 per cent of its total shares. Although no value was officially put on the deal, the FT valued the firm at £1.5bn, making each Betfair share worth £13.

Betfair's parent company the Sporting Exchange Limited will make an offer for between 15 and 20 per cent of public shares and then add three per cent of its own stock.

The deal should close 3 April - "subject to certain conditions". Betfair's chairman Tim Bunting welcomed the deal and Softbank's "hugely sucessful track record in a number of related areas". Softbank was an early investor in Yahoo!, as well as buy.com and WebVan.

Statement available from here.

In other gambling/gaming news, online poker specialist PartyGaming is saying goodbye to its chief executive.

Richard Segal will leave the firm on or before 1 June because he does not want to relocate to Gibraltar where the poker firm is based.

He originally agreed to commute from the UK but he, and the board, now agree that the chief exec should be based in Gibraltar and, after discussions with his family Segal, decided to stay in the UK and therefore leave the firm.

PartyGaming also released results for the year ended 31 December 2005. Revenues are up 63 per cent to £560.5m. Ebitda increased 49 per cent to £334.6m - but this falls to £200.5m including IPO expenses and legal costs of the skin settlement. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
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
prev story

Whitepapers

Designing a defence for mobile apps
In this whitepaper learn the various considerations for defending mobile applications; from the mobile application architecture itself to the myriad testing technologies needed to properly assess mobile applications risk.
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.
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.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.