Feeds

BSkyB buys Amstrad

Sugar turns to Murdoch

Top three mobile application threats

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. ®

Application security programs and practises

More from The Register

next story
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
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Microsoft: We're making ONE TRUE WINDOWS to rule us all
Enterprise, Windows still power firm's shaky money-maker
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
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
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
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.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.