Fledgling prepares for testing game of chance

City Diary

AIM floats may be looking a bit frothy, and software companies with their first product still under development more frothy than most. That has not stopped 3i from lifting its existing stake in Glasgow-based Digital Animations, an "interactive entertainment software developer" which comes to market at the end of the month valued at pounds 10.4m.

The company's first product launch next spring will be "Steel Legions", a futuristic real-time game in 3D in which you will be able to zap robots programmed with a variable range of human characteristics, including fear, recklessness and skill.

3i will subscribe for an additional 3.3 per cent of the shares, lifting its holding to nearly 20 per cent. Let's hope they've been programmed with financial foresight.

Dan Wagner's Maid, the on-line information provider, is listed in New York as well as London - where tech stocks have been badly hit by the current stock market sell-off.

One of our intrepid reporters was receiving a presentation by Mr Wagner yesterday, and wondering if Maid had been badly hit, asked him: "Are you wearing your hard hat?" The ebullient 32-year- old tycoon replied: "Oh no, I don't worry about anything like that. We're not looking to raise any money at the moment."

This did not stop Mr Wagner from remarking 10 minutes later that Maid's share price had fallen by 10 per cent that morning - meaning he had personally lost around pounds 5m in a couple of hours.

Mr Wagner bought his girlfriend Suzy some Maid shares the other day. She should have insisted on diamonds.

The high-profile launch of the Crest automated share settlement system on Monday has left the London Stock Exchange feeling sore. It wasn't invited. As the Chancellor Ken Clarke and big-wigs from the Treasury, the Bank of England and SIB swigged champagne, the Exchange was notable for its absence.

It was, of course, the Exchange which developed the Taurus automated settlement system which had to be scrapped four years ago at vast expense because there was no sign of it working.

The Treasury handed development of a new system to the Bank. The Bank in turn has been smug about the successful launch of Crest this week. Pen Kent, the Bank's director originally in charge of the project, observed on Monday that "the funniest press coverage of the launch I've seen has been the headline 'Stock Exchange launches news settlement system'. '' Meow.

Start your day with The Independent, sign up for daily news emails
PROMOTED VIDEO
ebooks
ebooksA special investigation by Andy McSmith
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

iJobs Job Widget
iJobs Money & Business

Recruitment Genius: Software Development Manager

£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...

Ashdown Group: Product Manager - (Product Marketing, Financial Services)

£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...

Recruitment Genius: Compliance Assistant

£13000 per annum: Recruitment Genius: This Pension Specialist was established ...

Ashdown Group: Market Research Executive

£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...

Day In a Page

As in 1942, Germany must show restraint over Greece

As in 1942, Germany must show restraint over Greece

Mussolini tried to warn his ally of the danger of bringing the country to its knees. So should we, says Patrick Cockburn
Britain's widening poverty gap should be causing outrage at the start of the election campaign

The short stroll that should be our walk of shame

Courting the global elite has failed to benefit Britain, as the vast disparity in wealth on display in the capital shows
Homeless Veterans appeal: The rise of the working poor: when having a job cannot prevent poverty

Homeless Veterans appeal

The rise of the working poor: when having a job cannot prevent poverty
Prince Charles the saviour of the nation? A new book highlights concerns about how political he will be when he eventually becomes king

Prince Charles the saviour of the nation?

A new book highlights concerns about how political he will be when he eventually becomes king
How books can defeat Isis: Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad

How books can defeat Isis

Patrick Cockburn was able to update his agenda-setting 'The Rise of Islamic State' while under attack in Baghdad
Judith Hackitt: The myths of elf 'n' safety

Judith Hackitt: The myths of elf 'n' safety

She may be in charge of minimising our risks of injury, but the chair of the Health and Safety Executive still wants children to be able to hurt themselves
The open loathing between Barack Obama and Benjamin Netanyahu just got worse

The open loathing between Obama and Netanyahu just got worse

The Israeli PM's relationship with the Obama has always been chilly, but going over the President's head on Iran will do him no favours, says Rupert Cornwell
French chefs get 'le huff' as nation slips down global cuisine rankings

French chefs get 'le huff' as nation slips down global cuisine rankings

Fury at British best restaurants survey sees French magazine produce a rival list
Star choreographer Matthew Bourne gives young carers a chance to perform at Sadler's Wells

Young carers to make dance debut

What happened when superstar choreographer Matthew Bourne encouraged 27 teenage carers to think about themselves for once?
Design Council's 70th anniversary: Four of the most intriguing prototypes from Ones to Watch

Design Council's 70th anniversary

Four of the most intriguing prototypes from Ones to Watch
Dame Harriet Walter: The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment

Dame Harriet Walter interview

The actress on learning what it is to age, plastic surgery, and her unease at being honoured by the establishment
Art should not be a slave to the ideas driving it

Art should not be a slave to the ideas driving it

Critics of Tom Stoppard's new play seem to agree that cerebral can never trump character, says DJ Taylor
Bill Granger recipes: Our chef's winter salads will make you feel energised through February

Bill Granger's winter salads

Salads aren't just a bit on the side, says our chef - their crunch, colour and natural goodness are perfect for a midwinter pick-me-up
England vs Wales: Cool head George Ford ready to put out dragon fire

George Ford: Cool head ready to put out dragon fire

No 10’s calmness under pressure will be key for England in Cardiff
Michael Calvin: Time for Old Firm to put aside bigotry and forge new links

Michael Calvin's Last Word

Time for Old Firm to put aside bigotry and forge new links