The convenience store chain My Local has gone into administration. My Local employed 1,658 people and operated 125 shops across the UK. Two of the shops have been sold and 90 have closed with a ‘significant’ number of redundancies. The administrators say they are in discussions with a number of interested parties in relation to the 32 premises that are still trading and a small number of those that have closed.
The logistics company S J Bargh Group has bought R G Bassett & Sons. The acquisition improves S J Bargh’s general haulage and warehousing operations.
Neon Play, a developer of mobile games such as Traffic Panic London and Paper Glider vs Gnomes, has been taken over by the book publisher Hachette.
Daily Internet has improved its managed services offering with the acquisition of System Professional for £3.9m. Daily Internet is a cloud-based hosting company. System Professional is a managed services provider and consultancy.
Tesco has offloaded another subsidiary with the announcement that Dobbies Garden Centres, the UK’s second largest specialist garden centre retailer, is to be sold to a consortium led by Midlothian Capital Partners and Hattington Capital. Tesco has been streamlining its business structure as it looks to regain ground in the UK supermarket sector, and says that the money generated by this sale, £217m, will be used for “general corporate purposes”.
LinkedIn, the world’s biggest professional network with 400m members, has been taken over by Microsoft. The £18bn deal, one of the largest ever in the technology sector, is part of Microsoft’s attempts to position itself as an industry leader in cloud computing. LinkedIn CEO Jeff Weiner believes the deal will enable the company to operate on the “same scale” as “tech titans such as Apple, Google, Microsoft, Amazon, and Facebook”.
About Health has been acquired by Totally for £7.7m. About Health is a provider of community based health services to the NHS. Totally is a provider of out-of-hospital care, and owns Totally Health, My Clinical Coach and Premier Physical Healthcare.
Outsourcery, the cloud-based IT infrastructure company founded by ex-Dragons’ Den star Piers Linney, has been bought out of administration by GCI Network Solutions.
Rimstock, a manufacturer and supplier of forged and cast aluminium wheels, has been taken over by the investment firms Safanad and Current Capital. Rimstock’s products are used in a wide range motor racing series, including touring cars, sports cars, rallying and rally cross.
CorpAcq, an investment company led by businessman Simon Orange, has bought the rugby union club Sale Sharks. CorpAcq intends to develop Manchester as a Premiership rugby region, and ultimately win the Premiership with Sale Sharks.