Sky Signs £125m Amstrad Deal

01 August 2007

LONDON: News Corporation-owned UK satellite TV monopoly BSkyB has inked a £125 million ($253m; €185m) deal to buy British consumer electronic products firm Amstrad.

The company, headed by colourful entrepreneur Sir Alan Sugar (pictured), supplies around 30% of Sky's set-top boxes, amounting to 75% of Amstrad's sales.

Sky says the deal will allow for more innovation.

Meantime, Sugar, Amstrad's chairman/ceo and star of the UK version of 'reality' show The Apprentice, is in less fearsome form than his TV alter ego.

"Sky is a great British success story'" he schmoozes. "I'm proud to have worked so closely with it, and I look forward to continuing to play a part in this exciting business."

Data sourced from BBC Online; additional content by WARC staff