Brainspark finds a buyer

Lucky save for internet incubator...

Beleaguered internet incubator Brainspark has agreed to a £5.2m bid from an Italian software company Al Software for the remains of its operations. Despite having cash reserves of £4.8m, its failing investments in eight businesses including Traderserve, iProx and Que Pasa Media has made the £5.2m offer look good. Brainspark has up until now failed to sell itself to previous bidders including Durlacher, after plummeting from a value high of £154m while attracting over £30m in investment.