Amstrad: “You’re hired!”

31 07 2007

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The consumer electronics manufacturer used to be a byword for cheap and cheerful hi-fi tower systems, the company even introduced the concept of mass market PCs to the U.K., but now Amstrad (shortform for the Alan Michael Sugar Trading Company, after its no-nonsense founder Sir Alan Sugar, and sometime frontman of The Apprentice) has been sold to BSkyB.

For the last few years Amstrad has been churning out set-top boxes for the U.K. satellite platform, including Sky+ DVRs. The deal is to be worth £125 million, or £1.50 per Amstrad share.

A briefing note from industry analysts Ovum can be found here.

Edited 2 Aug 07 to add comment from coverage in the Financial Times yesterday: “Sky said the Amstrad acquisition would give it more control over the design of new products and help it accelerate development. Analysts expect Sky to use Amstrad’s expertise to create high-margin products such as high-definition set-top boxes and personal video recorders.”

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