Viglen unveils e-biz division

Viglen is to set up a new division to buy Internet companies as it steps up its search for a dissatisfied Net guru to join its ranks. The London-based PC builder today revealed its intention to form a subsidiary "to make strategic investments in a series of ecommerce and Internet related ventures". According to Sir Alan Sugar, Viglen chairman, the company was pushed into making the announcement after journalists let the cat out of the bag. "This announcement comes a little earlier than we would normally have liked," he said. "Our intention was to announce this initiative in our half-year results. However, due to the aggressive recruitment campaign we have embarked upon, our intentions have been highlighted in the media." Back in December, the company put an advert in the Financial Times looking for an "unrewarded Internet entrepreneur". As reported here, the ideal candidate would be a recognised name in the industry and able to push Viglen's expansion plans. These included "embracing the fast growing Internet sector with a series of new subsidiaries entirely focused on e-business". A Viglen representative today claimed the company was "knee-deep in applications" for the job, but said that no-one had been selected yet. No start date or name have been revealed for the new subsidiary. Viglen's shares jumped 89 per cent to 342.5 pence after the announcement and its selection as the Mirror's "Tip of the Day". ® Related stories: Blair gov offers half price PCs to teachers Schools out for Viglen as results show healthy growth