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i_am_the_law

HP awarded £1.95m in reseller grey market fraud case

Hewlett Packard Enterprise was this week awarded £1.95m after a High Court judge ruled against reseller minnow International Computer Purchasing over allegations it abused special bid pricing. The US giant told us the successful claim against ICP and director Matthew Archer was for “fraud, conspiracy and inducement of breach …
Paul Kunert, 28 Jul 2016
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Security FUD and malware outbreaks boost Sophos' coffers

Revenues at Sophos were buoyed by the growing threat of ransomware and the like to its target mid-market customer base. For the quarter ending 30 June 2016, Sophos recorded revenues of $127.4m, 12.2 per cent up from the $113.5m its business brought in during Q1 2016. Kris Hagerman, chief executive officer, commented: "Our …
John Leyden, 28 Jul 2016
Close up of etched silicon

Brit chip bods ARM quietly piling up cash. Softbank will be happy

Cambridge-based processor design business ARM has posted substantial revenue and profit increases for the months in the runup to the Brexit vote. The company being bought by Japanese megacorp Softbank for £24.3bn, though Softbank has promised that this will be a Brexit in ownership only. ARM will retain its "senior management …
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Commvault's growing, even if profits dipped into losses this quarter

Commvault has sustained its recovery for a third quarter although it has recorded a loss after a much smaller income tax benefit was applied than a year ago. The first fiscal 2017 quarter saw a 9.6 per cent rise in Commvault's revenues to $152.4m: they were $139.1m a year ago, and $159.6m in the seasonally higher preceding …
Chris Mellor, 26 Jul 2016

Apple Watch exec Bob Mansfield 'gets into secret Apple car'

A former senior executive at Apple has returned to the company to oversee its secretive but long-rumoured car project, according to reports. Bob Mansfield stepped back from Apple's executive team in 2013, despite earning $85.5m a year, but remained around Cupertino as an adviser on special projects, including the Apple Watch …
Fibre, image via Shutterstock

Not-BT-Openreach' biz CityFibre sextuples pipeline

Cable-layer CityFibre has booked a six-fold increase in contracts during its first half of 2016, with £53.8m in the pipeline compared with £8.1m for the same period last year. New contracts signed in the period comprise 3,702 new customers, more than three times the total amount on the books in 2015 (1,110), and more than …
Kat Hall, 25 Jul 2016

Intel and pals chuck money at another Fibre Channel killer

+Comment Kazan Networks just got $4.5m A-round funding from Intel, Samsung Ventures and Western Digital Corp for its storage array access acceleration technology. So what? So Fibre Channel and iSCSI external array access are poised to be devastated by NVME over Fabrics (NVMeF) and Kazan is developing a hot little ASIC number that it …
Chris Mellor, 22 Jul 2016

Everyone's favorite infosec biz – Blue Coat – must cough up $40m to rival in patent rip-off row

Blue Coat has lost its appeal challenging a nearly $40m patent infringement lawsuit brought by rival security company Finjan. The California Northern District Court upheld the 2015 jury decision awarding $39,528,487 to Finjan for infringement by Blue Coat on five of its patents: 6,804,780 identifying downloadable files 6, …
Shaun Nichols, 20 Jul 2016
Pennies in a jar. Photo via Shutterstock

Three pence in a pound awaits Steljes' trade creditors

Unsecured creditors of audio visual distributor Steljes that are owed £6.72m by the fallen specialist will likely receive just three pence in the pound, according to the company’s administrator. Steljes collapsed in late May after cash flow dried up and directors were forced to call on AlixPartners, which decided the only …
Paul Kunert, 19 Jul 2016

Envy NVMe? Mangstor flashes $5m cash to bulk up array line

The NVMe-over-fabrics flash array startup Mangstor has had a $5m funding round. The company connects NVMe flash drives in its NX array to access servers using an NVMe over Fabrics link for access that is practically as fast as accessing local flash drives. It recently added a burst buffer capability to speed data access …
Chris Mellor, 19 Jul 2016
Piranha fish pattern illustration

£19.5m for quantum tech

Innovate UK and the Engineering and Physical Sciences Research Council have pledged to invest £19.5m to support quantum technology projects. The funding competition launches today and is aimed at businesses, although partnerships with academia are allowed. The registration deadline is 28 September. The government have defined …
Katyanna Quach, 18 Jul 2016
Defeated-looking young man puts his head against table in front of laptop and pile of papers in conference room. Pic via Shutterstock

Software bug costs Citigroup $7m after legit transactions mistaken for test data for 15 years

A programming blunder in its reporting software has led to Citigroup being fined $7m (£5m). According to the US Securities and Exchange Commission (SEC), that error [PDF] resulted in the financial regulator being sent incomplete "blue sheet" information for a remarkable 15 years – from May 1999 to April 2014. The mistake was …
Kieren McCarthy, 13 Jul 2016
Ben Mezrich, Once Upon a Time in Russia: The Rise of the Oligarchs and the Greatest Wealth in History

Russian gang who exploited hacked bank accounts jailed

Five members of an international money-laundering gang based in London have been jailed after cops unravelled their malware-enabled conspiracy. The gang, composed exclusively of Russian nationals, was led by a pair of men who were both named Aslan. Aslan Abazov, 30, of Cromwell Road, London SW7,was sentenced to seven years …
Laptop leaning against a stack of news papers in front of a world map illustration

£1m for music royalty chief

The chief of the monopoly music royalties society PRS for Music earned almost £1m last year. Company house filings show that CEO Robert Ashcroft took home a salary of £989,000, up from £765,000. The remuneration package includes a deferred bonus of £257,000, according to Companies House filings. That means the chief has almost …
Andrew Orlowski, 12 Jul 2016

Malaysia-based credit card fraud ring broken, 105 arrested

A total of 105 credit card fraud suspects have been arrested in Asia and Europe following a complex months-long investigation across two continents. The investigation targeted a gang led from Malaysia whose tentacles spread into 14 European countries (including the UK and Germany) and specialised in using counterfeit credit …
John Leyden, 08 Jul 2016
editorial only image of Whitehall. Pic Daniel Gale/Shutterstock

£8 BILLION is locked into UK.gov's failing IT schemes, El Reg analysis reveals

The UK government has £8bn locked into IT contracts which are at high risk of failure, according to an analysis of the Infrastructure Project Authority's accounts by The Register. Of 143 major projects representing £405bn of government spending, The Register identified 19 IT projects that were flagged as “red” or “amber/red” …
Kat Hall, 07 Jul 2016

Infosec bods NCC walk away from the domain services biz

UK-based infosec consultancy NCC Group is withdrawing from the domain services biz while retaining domain security capability. The tactical switch was announced as NCC reported revenues up 56 per cent to £209.1m in the 12 months to 31 May 2016, compared to £133.7m in its previous financial year. NCC’s adjusted pre-tax profits …
John Leyden, 07 Jul 2016
A group of people hold out mobile phones in a circle. Photo by Shutterstock

The truth about Silent Circle's super-secure, hyper-privacy phones: No one's buying them

It seems that the Blackphone, the handset created by Silent Circle and Spanish firm Geeksphone, isn't as popular as its makers would like. Geeksphone has sued [PDF] its erstwhile partner for $5m in a New York court, claiming that disappointing hardware sales have crippled the partnership and left the Switzerland-based Silent …
Iain Thomson, 06 Jul 2016
Man holding money

Tech upstarts to pocket up to $5m from crowd-fund suckers, er backers

A pair of newly passed bills in the US Congress will increase the amount of money tech startups can raise to cover their early expenses. The Fix Crowdfunding Act (HR 4855) and the Supporting America's Investors Act (HR 4854) will raise the limits on money that companies can gather through crowdsourcing and venture capital …
Shaun Nichols, 06 Jul 2016

Mike Lynch's cybersec biz Darktrace hoovers up $65m in VC dosh

Darktrace, the machine-learning cybersec outfit backed by one-time Autonomy CEO Mike Lynch, has pulled in another $65m in VC funding. Lynch previously founded enterprise search firm Autonomy, which was sold to HP and ultimately cost that company $8.8bn in impairment and other charges. This led Patrick White, the head of start- …
Cartoon - Private SNAFU

TP-Link abandons 'forgotten' router config domains

TP-Link, rather than recovering domains it forgot to renew, is going to abandon them. The domains in question are tplinklogin.net and tplinkextender.net. They offered configuration services for buyers of the company's home routers and Wi-Fi link extenders, and are identified on stickers on some devices (not all: two TP-Link …
MIPS Creator CI20 development board

Not your Imagination: Britain’s other chip giant posts biggest ever loss

The UK’s other chip designer, Imagination, posted a £63.2m loss before tax for the year to April 2016 as it radically restructures its business. DAB radio business unit Pure Technologies, which has been up for sale but with no buyer yet, contributed £7.9m to the loss on revenues of £18m. The IMG Systems services unit is also …
Andrew Orlowski, 05 Jul 2016
 Good GCSEs should cost parents a Jesus-phone

RM: School spending on tech is soft, soggy and downright subdued

School spending on tech remains “subdued”, according to specialist education supplier RM at the half-way stage of its fiscal year 2016, ended 31 May. Revenue slid 3.8 per cent year-on-year to £76.8m, but excluding the disposal of SpaceKraft, which made sensory learning devices for children with special needs, sales fell 1.4 …
Paul Kunert, 04 Jul 2016
I quit

Azzurri CEO quits, will walk out sometime in 'summer'

The CEO of Maintel-owned Azzurri Communications, Chris Jagusz, is quitting in the summer but the company's new owners haven’t specified the exact departure date. Cloudy comms integrator Azzurri was acquired by Maintel in April for £48.5m and so it was only a matter of time before the exec exited once the handover period was …
Paul Kunert, 01 Jul 2016
Cartoon - Private SNAFU

Peter Gabriel-backed music startup goes titsup, takes £500k of your money with it

A music licensing startup backed by Peter Gabriel has gone into receivership, Music Week reports. The notice was filed on June 20th. CueSongs promised “frictionless music licensing for online broadcast” and was run by Ed Averdieck, who had a stint at Nokia’s Comes With Music. CueSongs handled sync licensing, the burgeoning …
Andrew Orlowski, 29 Jun 2016

Chatbot lawyer shreds $2.5m in parking tickets

An "automated lawyer" chatbot service has successfully challenged and overturned more than $2.5m in parking tickets in New York and London, according to its inventor. The Do Not Pay service automatically generates an appeal if people fit the criteria to challenge a parking ticket – all using publicly available information – …
Kieren McCarthy, 28 Jun 2016
Micron 9100 NVMe HHHL SSD

NVMe SSDs tormented for months in some kind of sick review game

Review NVM Express (NVMe) is the next generation specification for accessing non-volatile memory such as flash. Traditional technologies such as SAS and SATA are just too slow. In order to demonstrate how much of a difference NVMe makes, Micron has provided 12 9100 NVMe flash drives, 800GB each in the HHHL (standard PCIe card) format …
Trevor Pott, 27 Jun 2016
Laptop leaning against a stack of news papers in front of a world map illustration

Twilio IPO a success

There'll be champagne corks popping at cloudy comms firm Twilio after shares rose 71 per cent on the first day of trading. The company raised $150m after pricing its IPO at $15, but is currently trading at $25.67 a share, up $10.67 or 71 per cent. No doubt there'll be some profit taking at the end of the day, but it's a strong …
Iain Thomson, 23 Jun 2016
A car pulled over near a hazard sign on a country road. Photo by Shutterstock

BlackBerry's turnaround stalls

BlackBerry announced further losses today as its comeback plan snagged on adjustments to the books. Revenue was down to $400m (GAAP) for the quarter, down from $658m. But the company made significant balance sheet adjustments including a one-time asset asset impairment charge of $501m, and an inventory write down of $41m, …
Andrew Orlowski, 23 Jun 2016
Tabby cat cuddles roll of one-hundred dollar bills. Photo by Shutterstock

Maplin Electronics demands cash with menaces

The private equity profiteers behind Maplin Electronics have turned the screws on suppliers to hand over bigger rebates to help pay for physical and digital store improvements or risk having their kit sidelined. The geek fiddlers emporium was sold to Rutland Partners for £85m almost two years ago when the investor promised “ …
Paul Kunert, 23 Jun 2016
China keyboard, image via Shutterstock

Shareholders rubber-stamp Ingram Micro $6bn sale to Chinese firm

US-headquartered Ingram Micro edged closer to Chinese ownership last night when shareholders voted overwhelmingly to accept Tianjin Tianhai’s $6bn offer. The mega bid for the world’s largest tech distributor was made in February by the Far East company, a subsidiary of HNA Logistics which is itself a division of conglomerate …
Paul Kunert, 22 Jun 2016
stack of newspapers with a pair of ethernet cables next to them

VC buys 5m Violin shares

Pequot Capital hedge fund man Art Samberg has bought 5.3 million Violin Memory shares, showing faith in the company's future. Samberg was CEO, chairman and president of Pequot Capital, which grew to be a $15bn fund around 2006, the then-largest in the world. That was then and Samberg now runs his financial stuff through Hawkes …
Chris Mellor, 21 Jun 2016
recruitment_hired

Dabs founder Dave Atherton returns to techland

Dave Atherton, the founder, one-time CEO and owner at Dabs has returned to the IT industry as chairman of distributor Entatech, with a turnaround mission in mind. Atherton, who sold his online tat bazaar to BT for £24m a decade ago, has since worked on numerous projects including property development and more recently a site …
Paul Kunert, 15 Jun 2016

Qumulo accumulates $32.5m

Next-gen filer startup Qumulo has scored $32.5m in a C funding round. Total funding has reached $100mn. This latest round follows on from last year’s $40m B-round. It was over-subscribed with participation from new investors Allen & Company, Top Tier Capital Partners, and Tyche Partners, and existing venture investors Kleiner …
Chris Mellor, 10 Jun 2016
Scrambled Eggs from shutterstock

Google Ventures-backed sync-'n'-share firm changes direction. Got your attention?

File sync 'n' share startup Egnyte is starting a move to expand from file management into content intelligence, entering the domain of Commvault and Veritas. Egnyte was founded in 2007 by CEO Vineet Jain, VP Product Management RAjesh Ram, and VP Operations and Chief Security Officer Kris Lahiri. It has amassed $62.5m in …
Chris Mellor, 09 Jun 2016
Racks inside Rackspace's Sydney Data Centre

SolidFire's thin flash density eats more racks than HPE. What gives?

Analysis NetApp's SolidFire arrays needs four times more rack space than HPE and EMC for equivalent amounts of flash storage. It has 1U hardware boxes and these appear to be limited in what capacity SSDs can be supported. With SolidFire arrays being scale-out nodes, then low flash density per rack unit means you need more nodes to …
Chris Mellor, 08 Jun 2016
Chinese fence

Millions of 'must be firewalled' services are open to the entire internet – research

Millions of services that ought to be restricted are exposed on the open internet, creating a huge risk of hacker attack against databases and more. Infosec firm Rapid7’s researchers took a close look at the millions and millions of individual services that live on the public IP network, one of the most fundamental components …
John Leyden, 08 Jun 2016

Dragons' Den-run cloud biz Outsourcery close to sale – sources

Cash-strapped AIM-listed infrastructure services biz Outsourcery – co-run by former Dragons' Den badass Piers Linney – is close to wrapping up a pre-pack administration, multiple sources have told The Register. Trading in the firm's shares was suspended on Friday after top brass postponed publication of last year's results and …
Paul Kunert, 07 Jun 2016

SCC blows up tech sevices balloon, fiscal '16 profits swell

‘Thank god for our IT services biz’ might be the general sentiment expressed by top brass at SCC after another year when the shelf life for firms reselling hardware and software got a little shorter. Services might not be coming good for all IT vendors - for that see the gloom at some of the majors - but they accounted for the …
Paul Kunert, 06 Jun 2016

Microsoft's biggest UK reseller flashes fuller figures for '15

Microsoft licensing mountain Trustmarque won’t have done its chances of snaring a new private equity backer any harm by pushing out a decent set of trading figures for calendar year 2015. The York-based reseller, which merged with sister biz TES at the start of last year, reported turnover of £191.9m, up eight per cent on a …
Paul Kunert, 06 Jun 2016

Outsourcery: We've had offers for our assets (and, er, shareholders might get nothing)

Investors in beleaguered cloud biz Outsourcery may well take a bath after the company confirmed it is in talks with suitors who made offers for its assets that will leave them little or no return. The Manchester-based biz, set up by former Dragon Den's luvvie Piers Linney, revealed in April it was again running out of cash and …
Paul Kunert, 03 Jun 2016

IDC, IDC, o crystal ball. Who's storage's biggest cheese of them all?

IDC’s number crunchers have crunched their quarterly enterprise storage numbers and found HPE has done very well, while the storage market has declined somewhat and ODM supply to hyperscalers has plunged downwards. The overall enterprise storage market was worth $8.2bn in the first 2016 quarter, down seven per cent on a year …
Chris Mellor, 03 Jun 2016
Roughly 150kg of gold

Nutanix goes cap in hand to Goldman Sachs for $75m loan

Hyper-converged startup and IPO wannabe Nutanix finds itself in hock for $75m to Goldman Sachs after it was forced to take out a loan because its fund-raising IPO was delayed. An amendment to its S1 SEC filing says that Nutanix has borrowed $75m from Goldman Sachs, its IPO advisor: “ In April 2016, we issued an aggregate …
Chris Mellor, 01 Jun 2016
AS/400

Scale Computing is a tiny fish in a small pond. Fancy its chances?

Comment Scale Computing is one of 13 suppliers attacking the hyper-converged infrastructure market. Not all will survive. What has it got that makes it distinctive and gives it the potential for success? Scale’s difference is based on its SMB customer approach, meaning low-cost and simplified admin, and cleaned up IO stack. This, it …
Chris Mellor, 31 May 2016
management governance3

Tech spending in Europe is slowing, a fatter Tech Data belches

Tech Data has said it is countering the slowdown in IT spending across Europe by nabbing market share from Ingram Micro rivals, though it stopped short of naming those leaky ships it is pinching business from. The IT distie titan reported group sales of $6bn, up one per cent year-on-year for Q1 ended 30 April; revenues in the …
Paul Kunert, 27 May 2016
Nimble Storage array

Flash. Arrrgh. Nimble sales down

Hybrid array and recent all-flash array supplier Nimble Storage shows the effects of its late AF-Series flash array market entry and hyper-competitive market with its first quarter-on-quarter revenue decline. Revenues of $86.4m in its first fiscal 2017 quarter were 21 per cent higher than a year ago but down 4 per cent …
Chris Mellor, 27 May 2016
Train wreck

The screeching of Violin Memory's parting strings is horrible

Another great quarter. Not. Violin Memory made a paltry $9.7m in revenue and posted a $22m loss for its first fiscal 2017 quarter. Revenues were down 20 per cent on the year-ago quarter and 11 per cent on the previous quarter, the fourth fiscal 2016 quarter, when revenues of $10.9m and losses of $25.5m were followed by lay- …
Chris Mellor, 27 May 2016

Foxconn to slurp loss-making Smart Technologies for $200m

Loss-making interactive display vendor Smart Technologies has agreed to sell up to Foxconn for $200m. Under the terms of the deal, the Chinese contract manufacturer will fork out $4.50 per Smart Tech share, equating to a 21 per cent premium on the average trading price in the last 90 days. The buy gives Smart access to a “ …
Paul Kunert, 27 May 2016

Twilio (ask your dev) to IPO

One of Silicon Valley's so-called unicorns is going public. Comms company Twilio has filed IPO paperwork with US financial watchdog the SEC and is looking for $100m. It hasn't released the number of shares it intends to sell however, making it impossible to see how much the San Francisco-based upstart it seeking to value …
Kieren McCarthy, 26 May 2016

Q. What do you call a sales-growing letdown? A. Pure Storage

All-flash shipper Pure Storage delivered higher-than-expected revenue for its first fiscal 2017 quarter, but also had the first quarter-on-quarter revenue decline in its history since the IPO. Analysts thought it could have done better. Is this seasonality emerging for the first time or was there some other reason its turbo- …
Chris Mellor, 26 May 2016