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Electric Business

A brief summary of business news to keep you informed on company start-ups, corporate downsizing and mergers and acquisitions. Electric Marketing provides this service as free to access here, or it can be emailed to you monthly. Just Sign Up

Thu, 22/10/2020
The financial impact the pandemic is having on even the biggest sporting brands is made clear in Manchester United’s newly released annual results. The football club slumped to a £23m loss for 2019/20 compared with a £19m profit the year before. Covid restrictions forced the Premier League to be halted for three months and when matches were resumed spectators were banned. On top of the lost income from match day ticket sales, clubs were forced to pay rebates to broadcasters. Manchester United’s total revenue for the year was down £118m to £509m, exacerbated by the club not qualifying for the
Thu, 15/10/2020
Despite announcing a stronger than expected post-lockdown trading performance, pub and brewery group Marston's has announced it is to cut up to 2,150 jobs. Marston’s, which following the national lockdown has reported sales down only 10% compared to last year, believes the recently announced ‘3 Tier’ system of guidance and restrictions “present significant challenges to us and will make business more difficult for a period of time”.
Thu, 01/10/2020
Nvidia, an American manufacturer of high performance graphics cards and processors, has bought Arm for £30bn. Headquartered in Cambridge, Arm’s processor designs are used by the world’s leading technology companies. Nvidia will invest in Arm’s UK-based research and development, with plans for an Arm/Nvidia-powered AI supercomputer to be used for cutting edge research.
Thu, 01/10/2020
William Hill, one of the most established sports betting brands in the UK, has been taken over by the American gambling giant Caesars Entertainment. The £2.9bn deal combines Caesars’ land based-casinos, sports betting and online gaming ventures in the USA, where it already works with William Hill through a joint venture.
Wed, 23/09/2020
Whitbread has started consultations that could lead to the loss of 6,000 jobs at the owner of Premier Inn. The UK hotels sector has been hit particularly hard by the Covid-19 pandemic, with government restrictions forcing all hotels to close during the lockdown and a big reduction in the numbers of international travellers visiting the country this year. Whitbread employs more than 35,000 people in more than 1,200 Premier Inn hotels and restaurants across the UK.
Tue, 22/09/2020
The German software distributor Compuwave has been taken over by QBS, specialist distributor of enterprise software delivery platforms. The deal is QBS’s third acquisition since the outbreak of Covid-19 in March 2020.
Tue, 22/09/2020
Perspective Financial Group has made its 36th acquisition since with 2008 with the purchase of Jones Hill. Established in 1996, Jones Hill is an independent financial adviser which currently advises 160 clients and manages £44m of client assets.
Tue, 22/09/2020
Cordia International, a residential real estate developer which operates across Hungary, Poland, Spain, Germany and Romania, has moved into the UK market with the acquisition of Blackswan Property. Headquartered in Birmingham, Blackswan is currently working on a range of mixed-use developments in the West Midlands region.
Tue, 22/09/2020
The biometric security specialist Delaney Secure has been acquired by the Texas-based Fulcrum Biometrics.
Wed, 26/08/2020
Geo-environmental engineering and design consultancy EPG has been acquired by STRI Group. The deal is the latest part of STRI’s growth strategy and sees it move into sustainable design.