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  • 📈 Starling Soars: Anne Boden’s Big Win

📈 Starling Soars: Anne Boden’s Big Win

Flutter Nabs Playtech in £2bn Triumph

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mohamed mohamed
September 17, 2024

This is Cliff Equity, the UK’s business newsletter that keeps you informed on what’s important in tech, business and finance in less than 5 minutes

In today’s stories:

  • Starling Soars: Anne Boden’s Big Win

  • Flutter Nabs Playtech in £2bn Triumph

  • Microsoft’s £60B Buyback: Shareholders Cheers!

The summary: Women-led businesses like Starling Bank and Beauty Pie are taking the UK by storm, driving billions in investment, shaking up the boardroom, and proving that the future of entrepreneurship is brilliantly female!

The details:

  • Starling Bank, helmed by Anne Boden, claimed the top spot for fastest-growing women-led UK businesses after doubling sales in 2023 – Boden gracefully stepped down as CEO to focus on being a "large shareholder," as one does.

  • Beauty Pie, founded by Marcia Kilgore of Soap & Glory fame, landed second place, having raked in a cool £126 million in equity investment since 2015.

  • Fitness mogul Grace Beverley, former Instagram sensation, was crowned "rising star" – now pushing for more female-founder support in a rather testosterone-heavy investment scene.

  • The report reveals women-powered firms now make up nearly 30% of fast-growing UK businesses, pocketing a casual £4 billion in private investment in 2024 – a massive leap from a decade ago.

Why it matters: Women-led businesses are no longer just smashing glass ceilings—they’re installing skylights and raking in billions while they're at it. With companies like Starling and Beauty Pie soaring, the economic landscape is shifting towards gender parity, proving women aren’t just making waves, they’re steering the ship. Grace Beverley’s call for more female founder support is a cheeky reminder that the boys' club might finally have to share the clubhouse.

The summary: Flutter's £2bn takeover of Playtech is yet another power play in Peter Jackson's quest for global dominance, while Playtech trims down to B2B and gets ready for the next round of corporate suitors.

The details:

  • Flutter Entertainment has completed its £2bn swoop on Playtech’s consumer operations, solidifying the deal and ending weeks of speculation.

  • Playtech, well-versed in takeover sagas, saw its shares climb after settling a dispute with Mexican firm Caliente, giving it a market value of around £2bn.

  • With Snaitech, Italy’s sports betting gem, posting a 5% revenue increase to €946.6m, Playtech has officially shed its consumer-facing business, focusing solely on B2B software and positioning itself for future bids.

  • For Flutter CEO Peter Jackson, this acquisition adds yet another notch to his corporate belt, following a series of strategic moves, including the purchase of Italian heavyweight Sisal.

Why it matters: Flutter's £2bn move on Playtech shows the gambling giant’s appetite for world domination is far from sated, as it gobbles up yet another Italian delight. With Playtech slimming down to focus on B2B, it's only a matter of time before suitors come knocking again. Meanwhile, Peter Jackson’s deal-making spree feels like a high-stakes poker game where he's holding all the aces.

The summary: Microsoft’s splashing out £60 billion on a share buyback, boosting dividends, and flaunting its latest AI gizmos, all while making sure shareholders and tech enthusiasts alike are kept grinning.

The details:

  • Microsoft’s juggling act: a £60 billion share buyback and a 10% dividend boost, announced with a flourish on September 16, 2024.

  • The new buyback replaces a previous effort and lacks an expiration date—talk about commitment issues!

  • Dividends are up to £0.83 per share, though Microsoft’s yield is still a bit on the shy side compared to its Dow Jones pals.

  • Amidst all this shareholder wooing, Microsoft is pouring billions into AI, promising to wow us with new Copilot features while trying to keep its cloud growth from stalling.

Why it matters: Microsoft’s hefty £60 billion share buyback and dividend increase are a classic case of rewarding shareholders while keeping the financial wheels greased. Meanwhile, the company’s lavish spending on AI and flashy new features for its Copilot shows it’s not just about the cash but also about staying ahead of the tech curve. Essentially, Microsoft is balancing a high-stakes game of keeping investors happy while playing the long game in the AI race.