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Janice McGinn

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Intel to extend leasing service to SMEs

Intel Financial Services is offering a range of new leasing options through its 1500 Intel Product Integrators (IPIs), targeting small and medium businesses with deals starting at £450. There is no maximum spend limit and applications for finance up to £20,000 can be approved within ten minutes, according to John Longergan, …
Janice McGinn, 30 Oct 1998
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GE Cap takes stake in ITG

GE Capital Equity Capital Group Europe has taken a five per cent stake in ITG, the UK’s largest independent Internet Service Provider, generating some £1.77 million. ITG issued new shares at 85 pence per share in cash, and they will be traded on the Alternative Investment Market (AIM). ITG’s chief executive, Laurence Blackall …
Janice McGinn, 30 Oct 1998
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Dark night for Ionica as no white knight tips up

Deeply-troubled Ionica failed to find a white knight and it called in the administrators yesterday. The radio-based telecommunications company said that normal services will continue for its 62,000 customers and since the parent Ionica Group is unaffected by the collapse, shareholders may see some recompense, unlike Ionica’s …
Janice McGinn, 30 Oct 1998
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All I want for Christmas is my cheap PC

HP's Lew Platt told analysts yesterday that PC pricing pressures are easing, but he's cutting an isolated figure as the rest of the industry readies for the usual round of pre-Comdex, pre-Christmas price cuts. IBM's leading the pack with its new £350 ($599) Aptiva E Series system, the D1N, available during November. "It's the …
Janice McGinn, 30 Oct 1998
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Action tipped by Investors Chronicle

Action Computer Supplies is being tipped as good value by the Investors Chronicle. Action said that there's no clear trend in its computer distribution business and some customers are cutting back while others are expanding. Margins are stable at 14 per cent, despite this year's roller coaster of IT pricing. Action grew its …
Janice McGinn, 30 Oct 1998
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SPC contemplates its future

It looks like Software Publishing Corp is putting Harvard Graphics up for sale. Following its run-in with NASDAQ, the Fairfield New Jersey company has hired Southeast Research Partners Inc (SERP) to provide investment-banking services. The conventional preamble to disposals. Software Publishing's president and CEO, Mark …
Janice McGinn, 30 Oct 1998
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Gateway touts leasing at couch potatoes

Gateway Plc is running a TV campaign promoting it's inelegantly-named Your:)Ware programme, a PC leasing package aimed at the consumer marketplace. Aileen McCracken, Gateway's consumer segment manager, said: "Your:)Ware takes the build-to-order model one step further… and consumers can choose a PC that suits their needs and on …
Janice McGinn, 29 Oct 1998
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Kewill homes in on Tracer

Kewill Systems Plc is buying the e-commerce logistics systems supplier, Tracer Software Inc, in a deal worth $19.6 million, $14.4 million in cash and the remainder in new shares. In August the Marlborough, Massachusetts-based company signed a major technology transfer agreement with FedEx Technology Inc, licensing FDX Corp …
Janice McGinn, 29 Oct 1998
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Big Blue, StorageTek cuddle up – greatly

StorageTek Corp reported record third quarter revenues and earnings per share only days after chairman and CEO David Weiss announced a new open storage management architecture, the Virtual Intelligent Storage Architecture (VISTA). The ambitious aim is to move data between any storage device, irrespective of platform or …
Janice McGinn, 29 Oct 1998
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Shuttle cocky after SCM buy

SCM Microsystems has snapped up Shuttle Technology Group for a cool $33 million. The seven-year-old Shuttle, founded by British entrepreneur Alan Jones, specialises in ASIC connectivity for e-commerce and digital video broadcasting. Jones said that SCM’s worldwide presence will strengthen Shuttle’s existing customer networks. …
Janice McGinn, 29 Oct 1998
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Maxtor gets over hard time

Maxtor Corp delivered surprisingly upbeat financials for the third quarter, reporting net income of $6.1 million as opposed to a $31.4 million loss last time. Revenues were up 53 per cent to $599.7 million and shipments grew by 15 per cent to 4.3 million from the second quarter. The disk drive manufacturer is majority-owned by …
Janice McGinn, 29 Oct 1998
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European Micro Holdings buys Sunbelt UK

European Micro Holdings Inc has completed the acquisition of Sunbelt UK Ltd, the Wimbledon, London-based subsidiary of PC Wise inc, headquartered in Miami. Sunbelt buys in computers and memory and rebadges it under the Nova brand name. Established in 1992, 1997 turnover was $16.5 million with $742,500 pre-tax profits. …
Janice McGinn, 28 Oct 1998
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Paul Lloyd quits SCC

Longterm national sales director Paul Lloyd has departed Specialist Computer Centres (SCC), to be replaced by Tom Barrett, formerly Scottish manager, and Ian Scott is appointed manager of the southern region. In April, Paul Simkin, managing director of ETC, SCC's distribution arm, announced he was leaving the company to join …
Janice McGinn, 27 Oct 1998
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HP, Wave tout hardware-based e-security system

Hewlett-Packard and Wave Systems are touting a new chip-based 'trusted client' system as a cheap and effective method for ensuring secure PC-based internet and e-commerce transactions. The two companies have been collaborating on the new systems over the past six months, integrating HP's VerSecure security management framework …
Janice McGinn, 27 Oct 1998
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MBO moves Earth for Scottish seismic software specialist

Concept Software, Scotland’s groundbreaking seismic software company, is being bought out by the management in a £36 million deal. The MBO is funded partly by £12 million of equity from the London-based venture capitalists, 3i, and The Royal Bank of Scotland is providing £17.5 million of senior debt and mezzanine facilities. …
Janice McGinn, 27 Oct 1998
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Old and New Worlds clash over e-privacy legislation

US and European cultural divisions are emerging in the governance of the Internet and electronic trading. Broadly speaking, the US favours protection of business over consumer rights, but the EU’s new regulations to protect private data across the Union’s 15 member countries runs contrary to routine business practices of US …
Janice McGinn, 27 Oct 1998
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Childe Rolande IBM rides from Aix to Gwent, bypassing Java but including Santa Cruz

IBM has rediscovered Unix and it is developing a new version for Intel's IA-64 based on AIX, SCO's Unixware and Sequent's PTX operating system. Maybe the AS/400 division is getting too much attention nowadays, or maybe the AIX division is saying we've got 64-bit too. Maybe IBM does weddings and bar mitzvahs, but when Big Blue …
Janice McGinn, 26 Oct 1998
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AT&T goes up… and up

AT&T Corp's third-quarter earnings rose 68 per cent, reflecting the positive effects of a massive cost cutting exercise and fast growing sales. Excluding one-time charges, profits increased to $1.81 billion from $1.08 billion this time last year, on revenues up 4.3 per cent to $13.65 billion from $13.09 billion. The telecomms …
Janice McGinn, 26 Oct 1998
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US SEC gets cross about profits. Very cross

The all too common practice amongst IT companies of boosting profits by overstating the value of research acquired in takeovers is exercising the US Securities and Exchange Commission, and it has asked an auditor group to come up with new guidelines. The SEC said the practice is becoming more commonplace as mergers and …
Janice McGinn, 26 Oct 1998
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Memory Corp eases way out of AIM

Memory Corporation is heading for Europe, planning a listing on the young, still unproven, EASDAQ stock market in Brussels. It is moving from London’s junior exchange, AIM, where it took a thorough drubbing, listing on AIM at 45 pence in 1995, then soaring to a dizzying 553 pence before spiraling downwards to the mid 20s. That …
Janice McGinn, 26 Oct 1998
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Elitegroup fished by PC Chips

Hong Kong’s giant PC Chips Group has merged with Elitegroup Computer Systems (ECS), as predicted yesterday in The Register. The financial details remain shadowy, but it looks like an acquisition in all but name. An Elitegroup company statement said that a merger took place on October 19, and Paul Chou, managing director of …
Janice McGinn, 23 Oct 1998
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Breakeven best scenario for Kalamazoo

Kalamazoo Computer won’t make it back into the black this year, despite selling off its security print division for £12 million and attracting a £17.8 million equity investment from US investors, Reynolds & Reynolds. Kalamazoo is investing heavily on its next generation software, developing specialised systems for franchised …
Janice McGinn, 23 Oct 1998
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Tipster touts RM

RM, trading at around £2.95, is being tipped as stock worth buying. The company supplies computer kit to around 50 per cent of the UK’s primary schools and 33 per cent of secondary schools, and the Investors Chronicle said: “It is in an enviable position given the government’s pledge of £400 million over four years for capital …
Janice McGinn, 23 Oct 1998
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UK DEC dealers merge

Keltec and Progress, two leading UK Digital dealers, are merging operations and moving towards a flotation within three to five years. They said that no redundancies are planned. Bracknell-based Keltec reported £23 million turnover last year to Progress’ £11 million, and despite talk of merging, Keltec is taking the upper hand …
Janice McGinn, 23 Oct 1998
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Fibre Channel Group Europe offers third party training

The Fibre Channel Group Europe Ltd, the first European company to offer third-party training in Fibre Channel Technology, is a joint venture with the prominent US Fibre Channel Group. Based in Reading Berkshire, the new company is headed by managing director Sam Samuel and the US connection is cemented by the participation of …
Janice McGinn, 23 Oct 1998
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Read-Rite or Red Wrong?

Read-Rite Corp made a fourth quarter loss as expected, but the beleaguered disk-drive manufacturer surprised the markets with a $29.5 million loss, smaller than anticipated. Analysts had forecast the loss at around 68 cents per a share, but the Milpitas, California manufacturer’s loss worked out at 61 cents a share, although …
Janice McGinn, 22 Oct 1998
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PC Chips snaffles stake in Elitegroup

The massive PC Chips Group is taking an undisclosed stake in Elitegroup Computer Systems (ECS) through its Taiwanese manufacturing subsidiary, Hsing Tech Enterprise. ECS in the UK said it had no knowledge of the investment, but reports from Taiwan suggest that loss-making ECS will make huge savings on joint component purchases, …
Janice McGinn, 22 Oct 1998
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CTX licensed Big Blue patents

Who's zooming who? Last week, Packard Bell NEC (PBN) filed a suit against CTX International, claiming the company's machines infringe five PBN patents. This week, the waters are muddying rapidly. Chuntex Electronics, CTX's Taiwanese parent, said it licensed the technologies for several years from IBM. The unexpected upshot is …
Janice McGinn, 22 Oct 1998
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PhoneLink profitability in sight says CEO

"We've been described as a stock-market dog," said Graham Ramsey, CEO of PhoneLink, the loss-making Tel-Me online content provider, "but our acquisition strategy is working and we're very bullish about the future." In 1996 PhoneLink reported £4 million turnover and a £7 million loss. By March 1997, turnover was static but the …
Janice McGinn, 21 Oct 1998
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CHS juggles finances following collapse of Vobis buyout

CHS Electronics stock plummeted two weeks ago and it announced yesterday that it is now renegotiating earnout payments for companies it has acquired, including big-hitters like Metrologie and Karma International. CHS would have the option of paying in cash or stock, reducing the number of diluted shares outstanding. The second …
Janice McGinn, 21 Oct 1998
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Action halfway to £500m target

Action Computer Supplies Holdings reported its 1998 results, ramping up turnover by 45 per cent to £250 million, but still way short of meeting its stated ambition to be a £500m company by the year 2000. Financial director Ian Wakelin said the objective still stands, although the timetable may have changed, but given the 45 per …
Janice McGinn, 21 Oct 1998
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DVD shortage now, gluts in 1999

The DVD market is drastically undersupplied as Japanese production of pick-up heads remains slow but demand for DVD-ROMs speeds up rapidly. Global demand for DVD-ROM peaked at 300,000 units a months between January and June, jumping to 900,000 in September as PC manufacturers increased their OEM orders. Observers say the …
Janice McGinn, 20 Oct 1998
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Oh No! not another convergence story

Nortel Networks is showcasing a raft of products and systems at NetWorld+Interop, its first major trade show since the August acquisition of Bay Networks. CEO John Roth is delivering the keynote speech in Atlanta, focusing on future possibilities, including the total integration of voice and data and the delivery of anywhere- …
Janice McGinn, 20 Oct 1998
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HP touts stress-free, EMC-rich strategy

Hyped as ushering in a new era of stress-free enterprise storage, HP’s new strategy got the thumbs up from analysts with the Aberdeen Group. Senior analyst David Hill said: “HP is positioning itself well to compete in the changing storage market with a broad range of high availability and online and offline its fibre channel …
Janice McGinn, 20 Oct 1998
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Who will buy these wonderful patents?

Toshiba Corp said the sale of intellectual property rights could garner up to 100 billion yen ($870 million) by 2003, and the Japanese giant announced yesterday that it will sell designs drawn from several business units, including PC and data storage. The company is making definitive moves to control its research and …
Janice McGinn, 20 Oct 1998
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Broadcom tweaks cable modem chip for Europe

Broadcom Corp’s first single chip for cable modems is now available for European markets, customised and made compliant with the recently-approved International Telecommunications Union J.112 cable modem standard. Available already in the US, the BCM3300 chip is designed to cope with high-speed Internet access and Voice over IP …
Janice McGinn, 20 Oct 1998
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Memory Corp continues comeback route

Memory Corporation coined the really neat idea of repairing and selling damaged DRAM chips, but new prices plummeted and the bottom fell out of Memory’s market. The Scottish company could have been history, but it had a makeover and looks to be staging a stylish comeback. CEO David Savage said earlier this year that Memory would …
Janice McGinn, 19 Oct 1998
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ITG pumps up the volume with The Ministry of Sound

The Ministry of Sound is stepping out with ITG, the UK’s largest independent ISP, launching a new branded Internet and subscription service called ministryofsound.net. ITG’s chief executive, Laurence Blackall, said: “Agreements like this are the beginning of a trend where services address a very specific community of interests. …
Janice McGinn, 19 Oct 1998
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Concurrent in concurrence with profits forecasts

Concurrent Technologies consolidated its recovery in the third quarter, reporting net profits of £1.8 million on £2.1 million turnover, up from £0.5 million on £1.6 million turnover last time. Concurrent’s retained profit after a £1.8 million loss on currency translations is only £440,687, so no dividend this time, but an …
Janice McGinn, 19 Oct 1998