Today on bdaily

Takeover season is open for business

Spring has sprung and mergers and acquisition season is officially here. On today’s bdaily bulletin we bring you news from a number of takeovers, ranging from the signed and sealed to the early tentative stages. Meanwhile Kevin Brown (pictured), the new owner of Newcastle-based Perfiliate Technologies, explains his plans for the company now it is under the control of his international empire.

The News in association with

New suitors see bright future for Perfiliate

11.Mar.10 | Posted in Business

The new international owners of North East online marketing firm Perfiliate have vowed to grow the company – and its 70-strong workforce – from its Newcastle headquarters.

Last week we brought you the news that the company, which trades as Buy.at, was sold by its American parent AOL to Digital Window – a London-based joint venture between Swiss and German partners.

The deal was completed just two years after AOL bought the company and followed a period in which Digital Windows says its new acquisition had “lost its way”. 

The acquisition will double the size of Digital Window, and, according to the firm, make it Britain’s “largest performance-based marketing company”.

Digital Window CEO Kevin Brown told bdaily that the board is currently reviewing its new resources in Newcastle, with the possibility of future expansion.

He also said there would be no immediate redundancies since some staff had opted to leave voluntarily prior to the takeover deal.

“Looking ahead I know that the Newcastle workforce will be kept as some had opted to take the Voluntary Separation Agreement offered by AOL prior to the deal.  This also alleviates certain overlaps but we are currently in the process of assessing all areas and the allocation of resources and will have a clearer picture over time.

“Expansion could be on the cards but until we assess how Perfiliate will be structured we cannot say when or how this will take place.  Moving out of the North East isn’t something we’ve considered as the company is based on its people and the vast majority of staff are based in Newcastle.”

He also said the firm had been attracted to Perfiliate because of its strong similarities to its own business interests.

He said: “The firm was just too similar to our own organisation in both the client base and company culture.  It’s true that it had lost its way over the past 2 years under AOL but the key building blocks are still there.  Its growth lies with its synergy to Digital Window where we now have the opportunity to offer clients a broader reach of publishers and market leading innovation and tools.”

Perfiliate, based in Newcastle’s Cathedral Square, was founded in 2002 and has produced marketing campaigns for the likes of O2 and Virgin Media.

Director departs as BNS sold

11.Mar.10 | Posted in Business

The founder of one of the region’s largest telecoms companies yesterday said the firm is in good hands, following its £10.5m sale and his official departure from the company.

Telecoms group Daisy has acquired Northumberland-based BNS for £10.5m to compliment its services, which looks after 30,000 businesses throughout the UK.

Garry Moat, former director of BNS, yesterday told bdaily he’ll now be concentrating solely on his property company, but has predicted a bright future for his old colleagues

He said: “The takeover is now complete.

“I’d like to wish all the staff at BNS the very best. They’ve all worked extremely hard over the last 15 years and I’m sure they’ll do very well with Daisy, they’re a solid company and the future looks good.”

BNS, which will now be controlled from Daisy’s Lancashire HQ, has 8,000 customers across 22,000 business sites, with 42,000 fixed line connections and it currently handles over 30 million calls per month.

Meanwhile, Matthew Riley, who formed Daisy in 2001, has joined the new board as director.

He said: “This makes great sense for Daisy, given the time scale and position of BNS within the UK SME market.

“This acquisition will strengthen our position in the reseller market and is another step towards the group consolidating this fragmented sector.”

Daisy reported revenues of £30.9m and pre-tax losses of £2.1m in the nine months to September 2009.

In May of the same year, BNS delisted from the AIM market saying it has been undervalued due to poor market conditions and investors having a weak understanding of the firm’s services.

Tanfield bid promises jobs and investment

11.Mar.10 | Posted in Business

New jobs and more investment into the region’s clean technology sector will be secured if a £37m bid for part of electric vehicles giant Tanfield is accepted.

That is according to the Washington-based company’s founder Roy Stanley who believes the bid from its associate company Smith Electric Vehicles US (SEVUS) can only be a positive move for its shareholders.

Tanfield shares jumped as much as 44% on Wednesday after it emerged that SEVUS had offered to buy the assets of its electric vehicle division.

The firm said the non-binding, conditional offer was equivalent to 50p per Tanfield share in issue.

Mr Stanley, Tanfield’s former chairman who now serves as a non-executive director and a significant shareholder, said: “Against the backdrop of the worst recession in history and the poor economy I believe this is a good deal for shareholders.

“It will give them cash plus allows them to participate in any upside with SEV US. It will secure jobs in the north east and increase investment in electric vehicle technology in the region by tapping into the huge federal and investment funding available in the US.”

The company said the assets that SEVUS offered to buy also included the 49% shareholding in Smith owned by Tanfield.

In 2009, Tanfield established Smith Electric in North America, with a 49% equity holding in it.

The company licenses its commercial electric vehicle technology to Smith Electric in exchange for a royalty fee.

The chief executive of Northern Rock was buoyant about the bank’s future yesterday as he defended its policy to reward staff with bonuses of up…

Continue reading >>

A waste management firm has invested £4m in expanding its new plant, creating 25 North East jobs in the process. Sunderland-based Alex Smiles had taken its…

Continue reading >>

Shares in North East housing giant Barratt Developments soared on Wednesday amid City rumours that it could be set for a takeover bid. The firm, which…

Continue reading >>

Industrial group Hargreaves Services has confirmed that it is in early discussions with UK Coal plc over a potential merger. The company, based in Esh Winning,…

Continue reading >>

Business Comment

Business Comment: Stay ahead of the game

Talking Business with Chris Lee, managing director of CCS

As a company, we sold our first mobile phone over 20 years ago. I almost hesitate to use the word ‘mobile’ now, as the phone was the size of a brick and the batteries had to be carried around in a small suitcase. In the intervening years, however, mobile technology has changed almost unrecognisably from back then and continues to do so at quite a pace – helping to provide businesses with new ways of working. For some businesses, especially smaller ones, keeping up with new technology isn’t always easy. It can take time and effort to keep abreast of what’s available to help your business be more flexible and effective. To help address this we’re collaborating with Vodafone and Codeworks to bring you an event designed to demystify the capabilities of today’s mobile technology, as well as giving you a taste of what’s to come. Entitled ‘The Future of Mobile Working’, the event will give attendees a real insight into the future of mobile and where the technology will be heading – and what impact this will have on your working life. We’ll be welcoming Vodafone’s Head of Product Marketing, Charlie Wade, who will give a keynote speech exploring how future mobile technologies will further transform the way we work. This will be followed a panel debate discussing the opportunities and risks associated with mobile working. And after the main event, CCS personnel will be on hand to demonstrate and chat about the latest mobile devices and smartphones available now – from the likes of Blackberry, HTC and Apple. So if you want to stay ahead of the game and find out about innovative new ways of working then please join us on Wednesday 24th March at The Sage Gateshead. Registration will commence at 5.30pm with the main event starting at 6pm prompt. Sign up is easy, just visit www.talknortheast.co.uk/event Look forward to seeing you there. bdaily Reader Offer Take out a new Vodafone contract with CCS before April 30th and you could receive an exclusive reward. Choose from golf days, fine dining and other fantastic experiences. Visit www.talknortheast.co.uk/bdaily to find out more.

Business Events

Rise & Design - No 6: Funding and support for design and innovation

Finding funding or support for your business can be a minefield but it doesn’t have to be!

As part of Design Network North’s Rise & Design event programme, this latest meeting aims to provide you with a brief overview of the various funding and support services available within the region.

The Innovation Factory

Create and shape new business opportunities in an interactive environment.

The Innovation Factory will provide an inspiring, challenging, thought provoking and highly interactive experience for all delegates.  The unique format will promote the exchange of ideas and the sharing of knowledge.

Lecture: Professor Scott Shane, Visiting International Scholar

Did you know that your DNA accounts for one third of the difference between you and your co-workers in many aspects of work life, from job satisfaction to income level?

Professor Scott Shane, Visiting International Scholar at Newcastle University Business School will discuss this and other findings from his latest book Born Entrepreneurs, Born Leaders: How Genes Affect Your Work Life.

Free business pitch event - Healthcare companies & Digital Creative

RTC North are running a one-off event for companies in healthcare markets to pitch their products and services to an audience from healthcare, NHS and digital, creative & IT businesses.

NorthernNet, Daresbury Science and Innovation Campus and RTC North have arranged pitching and networking opportunity for companies operating in the Digital Creative and Healthcare markets. If interested in the areas outlined below, register and meet potential partners who can help you grow your business…

Preparing Yourself for Funding

Funding options for SMEs have changed substantially in the past year.  As you will have seen from recent news stories, Finance for Business North East funding is the most substantial injection of venture capital funding seen in the North East economy over recent years.

Following on from our popular event ‘Meet the New Boy in Town – JEREMIE’ Service Network now want to help companies prepare themselves for accessing the Finance for Business North East funds.

Job Market

Join the North East CIPR Agency of the Year

O Communications is looking for new talent to grow its award-winning team. Do you have what it takes to join the best? PR Account…

IT Consultant

Perfect Image works with clients across the UK to define, implement and support IT systems which will help to make them more successful. …

And Finally in association with

Python loose on housing estate

Police have issued a warning about an escaped giant Burmese python which is loose on a housing estate in Northampton.

The green snake, believed to be “several feet long“, was seen by a passer-by in the undergrowth in Lingswood, reports the Daily Telegraph.

Police have advised that while it is not known to be a dangerous species, the beast should not be approached and witnesses should call 999 or the RSPCA.

It was last seen in a wooded area next to a large housing estate and has so far evaded capture.

A spokesman for Northamptonshire Police said: “Police were called at approximately 9.30am to a reported sighting of what is believed to be a large snake in the undergrowth. It is believed the snake may be a green Burmese Python.”