There have been a number of inaccurate reports in the press on what Sir Alan Sugar has been up to with UK company, Comtech M2M so here to set the record straight we have the OFFICIAL statement from Amshold’s press representatives…
Amshold, the holding company of Sir Alan Sugar, has acquired a controlling stake in Comtech M2M, a Bolton-based technology company specialising in machine-to-machine technology (M2M). Comtech M2M will become part of Amscreen, Amshold’s new digital signage technology company.
Comtech M2M was founded in 1992, originally specialising in communications product retailing, before entering the M2M market in 1999. It has since designed a range of machine-to-machine solutions, which allow information to pass between machines without human intervention, for clients such as Nintendo, Camelot, Newsquest and Kraft.
Amscreen will be run by CEO Simon Sugar, former commercial director of Amstrad and Sir Alan Sugar becomes chairman.
Further details on Amscreen will be released in due course.
Comtech M2M have been doing some good stuff in the UK digital signage arena and we have covered them frequently here on DailyDOOH.
The acquisition helps Amscreen with a signage solution but not with any network ownership or media sales.
We wonder how much the ‘majority stake’ was actually purchased for, Sir Alan Sugar is known as a shrewd business man and no doubt he would never ‘pay over the odds’ for anything – they could have purchased 42% of Avanti Screenmedia for UK PDS 300,000 the other day if they had wanted, Ed