Feeds

Jumbo quits on Manaccom

Another victim of Australia’s online shopping spree?

Intelligent flash storage arrays

On 30 January, listed online lottery operator Jumbo Interactive announced to the Australian Stock Exchange that it had appointed Delloite as administrator of its software distribution subsidiary Manaccom Pty Ltd.

The company that created the OzLotteries Website pulled the plug on the disto after mounting trading losses, which combined with extraordinary items such as write-downs, were weighing down the parent. In its 2010 accounts, Jumbo listed a total loss for its software distribution division of $11.7 million, forming most of the group loss of $7.3 million.

The group had acquired Manaccom in 2007 in a diversification which also included the acquisition of accounting software developer Star Systems, sold in November for $1.7 million.

Manaccom’s administration is attributed to poor sales conditions for over-the-counter software.

Late last year, the company – formerly trading in its entirety under the Manaccom banner – announced a restructure in which Manaccom Pty Ltd was split off and the parent company’s name changed to Jumbo. It expects its online lotteries business to pass $80 million in revenue for 2010-2011. ®

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
Lawyers mobilise angry mob against Apple over alleged 2011 Macbook Pro crapness
We suffered 'random bouts of graphical distortion' - fanbois
Just don't blame Bono! Apple iTunes music sales PLUMMET
Cupertino revenue hit by cheapo downloads, says report
US court SHUTS DOWN 'scammers posing as Microsoft, Facebook support staff'
Netizens allegedly duped into paying for bogus tech advice
Feds seek potential 'second Snowden' gov doc leaker – report
Hang on, Ed wasn't here when we compiled THIS document
Verizon bankrolls tech news site, bans tech's biggest stories
No agenda here. Just don't ever mention Net neutrality or spying, ok?
Inside the EYE of the TORnado: From Navy spooks to Silk Road
It's hard enough to peel the onion, are you hard enough to eat the core?
prev story

Whitepapers

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.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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.
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.