AIM-listed website designer and developer IS Solutions has agreed to buy Surrey-based Chapter26, a content management systems specialist.
According to the GrowthBusiness website, the deal will cost IS Solutions more than £700,000 in cash and shares, rising to £1.2 million if financial targets are achieved by July 2009.
Geneva based Neo Media has subscribed for £300,000 of convertible loans in bombed out digital screen media company Avanti Screenmedia.
AIM-quoted Avanti lost £5.6 million (plus another £25 million on disposals) in the year to June 2007 and a further £2.5 million in the six months to December. Last November, the London-based company raised £987,000 in shares and convertibles at 7p and in December it tapped the market for another £150,000 at the same price.
More details at Growth Comapny Investor
Google’s latest quarterly results have been posted and the SmoothSpan blog has some interesting comments on its article: Google Anti-Gravity Ray is Fading
Information Age magazine has highlighted a couple of tech-related nuggets from the latest M&S annual report
The UK’s most famous retailer has earmarked £450 million for IT spending over the next three years in a bid to push into international and online markets and ease its reliance on the ailing UK retail environment.
“We’re planning to take more control of our logistics from source to store, allowing us to monitor our stock more efficiently and improve margins,” the report said.
The report also revealed the company’s motivation for this IT focus – it’s online business, M&S Direct, grew 70% over the year (making £300 million in sales), while international sales grew 16% bringing in £713 million.
From the online edition of Growth Business news of a shake up at Securstore, the online back-up and recovery business with data centres in the UK and Iceland.
Orn Gunnarsson is the new CEO – he stepped down recently as managing director at Saga Capital Investment Bank – replacing Alexander Eiriksson, who will become the company’s chief operating officer.
Bjarni Armannson has become a new non-exec. He is a director of US private equity firm Paine & Partners.
Both are taking a 25% stake in the business.
