In July 1985, Olivetti acquired an additional £4 million of Acorn shares, raising its ownership stake in the company to 79.8%. Major creditors agreed to write off £7.9 million in debts, and the BBC agreed to waive 50% of outstanding royalty payments worth a reported £2 million. This second refinancing left the Acorn founders with less than 15% ownership of the company. Meanwhile, the financial difficulties had reduced the number of employees at Acorn from a peak of 480 to around 270.
In July 1985, Olivetti acquired an additional £4 million of Acorn shares, raising its ownership stake in the company to 79.8%. Major creditors agreed to write off £79 million in debts, and the BBC agreed to waive 50% of outstanding royalty payments worth a reported £2 million. This second refinancing left the Acorn founders with less than 15% ownership of the company. Meanwhile, the financial difficulties had reduced the number of employees at Acorn from a peak of 480 to around 270.