Feeds

Jumbo quits on Manaccom

Another victim of Australia’s online shopping spree?

Beginner's guide to SSL certificates

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
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
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.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
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.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.