Betacom
of Ponders End Industrial Estate, Enfield (1989)
1969 Founded by Dennis Baylin; Betacom was an electronics company specialising in audio and visual products.
1988 Supplier of domestic telephones, answering machines, etc. Stock Market listing[1]
1992 Amstrad purchased a 29.9% stake in the company from Canon Street Investments PLC.
1992 Planned to ask shareholders for more money after announcing year-end losses of £515,000. It said the cash would be used for further investment in the business.[2]
After the rights issue Amstrad's shareholding increased to 71.3%. Betacom, a UK-based domestic telephone supplier, provided Amstrad with a foothold in the developing telecommunications market .
1997 Amstrad plc was de-listed from the stock exchange and each shareholder received loan notes, shares in Viglen Ltd (a newly listed company), shares in Betacom plc and a letter of entitlement to the potential net proceeds arising from two court cases. In November of the same year, Betacom plc changed its name to Amstrad plc.
1999 Amstrad sold the Betacom business to Alba plc together with the Answercall and Cable & Wireless branded telecommunications business for £4M in cash.
See Also
Sources of Information
- [1] Wikipedia