Sky buys Amstrad

Sky has created its own consumer technology R&D and production division after buying Amstrad for £125million. The deal is backed by Amstrad’s directors and its chairman, TV grump Sir Alan Sugar, with shareholders receiving a 24 per cent bonus on the current price of Amstrad stock.

Sky’s chief executive, James Murdoch, said: “Sky and Amstrad have had a long and positive relationship.
The acquisition accelerates supply chain improvement , and will help us to drive innovation and efficiency for the benefit of our customers.”
Sky said the deal will provide it with an in-house product design and development capability, so it would be able to accelerate the development of new and more innovative products.