Feeds

BSkyB buys Amstrad

Sugar turns to Murdoch

Top 5 reasons to deploy VMware with Tegile

BSkyB is paying £125m for Amstrad - Sir Alan Sugar's set-top box manufacturing firm.

Sky is offering 150 pence for each Amstrad share, which is 23 per cent more than the shares were fetching on the open market last night. On the London Stock Exchange Amstrad shares have jumped almost 20 per cent to 145p on the news. Amstrad has fallen steadily this year from high of 199p per share in March.

Sir Alan Sugar will not be fired, he will continue to run the business for its new owners. Sugar owns 27.9 per cent of Amstrad and will get £35m if the deal goes through.

Amstrad makes 75 per cent of its revenues from selling Sky its set-top boxes. But currently Sky takes only 30 per cent of its set-top boxes from Amstrad.

The deal means Sky gets inhouse set-top box design, which it hopes will allow it to speed up development of the boxes and therefore the services it can offer its customers. It expects the deal to reduce the cost of procuring its boxes and to add to the bottom line in the first year.

Sir Alan Sugar said: "Sky is a great British success story. I'm proud to have worked so closely with it, and I look forward to continuing to play a part in this exciting business."

The deal needs to be approved by Amstrad's shareholders, but has already been approved by the boards of both Sky and Amstrad.

Sky's press release is here. ®

Beginner's guide to SSL certificates

More from The Register

next story
The 'fun-nification' of computer education – good idea?
Compulsory code schools, luvvies love it, but what about Maths and Physics?
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Lords take revenge on REVENGE PORN publishers
Jilted Johns and Jennies with busy fingers face two years inside
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
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.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.