Articles about 9m

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

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
High-tech startup-rich neighbourhood Herzliya Pituach, Israel. Pic by InnaFelker, editorial use only via Shutterstock

Israeli tech firms make their exits, stage rich

Israeli hi-tech companies rang the tills with exits adding up to $3.3bn in the first half of 2016. A total of 45 hi-tech firms completed exit deals that averaged $74m, according to a study by IVC Research Center and law firm Meitar Liquornik. Increased difficulties in raising capital, particularly in the United States and …
John Leyden, 06 Jul 2016
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

Crown Commercial Services is to slap SMEs with price hikes

Government procurement body the Crown Commercial Service is to start hiking up the amount it charges suppliers to sell stuff to the public sector. CCS already pockets fees from government frameworks – last year taking a cut of £72m from the £15bn total managed spend it facilitated. However, it will now more heavily rely on …
Kat Hall, 04 Jul 2016
Lawyer up

Broker DP Data shuts up shop after HP's lawyers took a bite out of them

Grey broker DP Data Systems is facing a trademark infringement case brought by Hewlett Packard that ultimately convinced management to pull down the shutters, the business has claimed in its latest financial filing. As exclusively revealed by El Reg, the Manchester based wholesaler of HP, Cisco, IBM, Juniper and Lenovo shut up …
Paul Kunert, 30 Jun 2016
EIB, photo by EIB

EU Investment Bank will honour pre-Brexit deals – but don't gamble on new ones happening

The EU bank that has poured more than £34bn (€42bn) over 10 years into UK projects will honour its existing deals in the wake of last week’s Brexit vote. Projects signed off on in fields such as engineering, education and R&D are not in jeopardy, the European Investment Bank has told The Register. The EIB’s most recent …
Gavin Clarke, 30 Jun 2016
Jason Chen, Acer CEO shakes hands with Starbreeze exec

Acer VR punt

Acer is lending StarBreeze, a Swedish games studio, $9m through a bond issue to help develop a virtual reality head-mounted display. The Taiwanese PC maker is also setting up a JV with Starbreeze to bring the StarVR to market ®. Jason Chen, Acer CEO shakes hands with Starbreeze exec
Drew Cullen, 28 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
Cloudy sky

Wanted: New cloudy head for UK.gov. 37 hour week, £90k salary

The UK government is hiring a Digital Marketplace director who will pocket £90,000 a year with a budget of £3.9m to lead a team of 38 digi procurement bods. The Digital Marketplace is intended to be provide an online portal for various digital government procurement departments to buy new code. The director will also be …
Kat Hall, 22 Jun 2016
trolley_shopping_648

Trustmarque has been sold yet again – this time to Capita for £57m

Capita has acquired Microsoft licensing house and managed services biz Trustmarque for £57m in cash – the fourth time the company has changed hands in three years Trustmarque, part of the Liberata Group, was rolled onto the market in February by parent Ardbid Ltd, appointing investment bank William Blair to find a buyer, as we …
Paul Kunert, 21 Jun 2016

TalkTalk CEO Dido Harding pockets £2.8m

Dido Harding, the chief exec of beleaguered firm TalkTalk, was handed £2.8m in salary this year, despite the company suffering a catastrophic cyber attack last year. The payout included base salary, shares and cash – the latter being related to performance targets between 2012-2015, the biz said in its annual report today. …
Kat Hall, 20 Jun 2016

Woah: NetApp is number two in the all-flash market, says IDC

NetApp is now second in the all-flash array market, according to IDC numbers we have been given. The numbers are for vendor revenues and the first quarter of 2016. The figures show NetApp having $181.1m revenues and a 22.8 per cent share, second to EMC’s $245.6m and 30.9 per cent share. It grew its all-flash business 238 per …
Chris Mellor, 08 Jun 2016
Caught_in_the_mud

Is that how you define a flash array, IDC?

Comment An IDC all-flash array (AFA) supplier numbers table, forwarded to us by EMC, appears to contain a few oddities, such as the exclusion of Dell, HDS, Kaminario and Violin products. We asked IDC and it has explained its reasoning. Our question to IDC was this: "The table doesn't mention Dell, HDS, Violin or Kaminario. That's odd …
Chris Mellor, 08 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
Traffic in Saigon. Pic: "M M"

Midlands tech dynasty SCC bypasses Europe, opens service centre in Vietnam

Services-based reseller SCC has complained a dearth of skilled techies that come at competitive rates in Europe has forced it to look east: a service delivery centre is set to open in Vietnam. Talking to El Chan, SCC chief exec James Rigby said it already has up to 1,000 workers based at a delivery centre in Romania, but “ …
Paul Kunert, 06 Jun 2016
big dog little dog, image Shutterstock

IDC rolls out all-flash crystal ball again and it's all gone a bit weird

IDC has issued all-flash array revenue numbers showing EMC is the belle of the AFA ball, with Pure fourth in the market, behind EMC, IBM and HPE, while NetApp and Huawei are wallflowers. The numbers more or less agree with Gartner’s all-flash array (AFA) supplier revenue shares published in April, but differ in detail. We …
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
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
Bill_Halbert_Kcom

It's a Hull of a thing: Kcom takes a break from 8-year sales slide

Telecoms provider Kcom stemmed its declining revenue for the first time in eight years, reporting growth of 0.4 per cent to £349.2m for the full year 2015/16. However, operating profit fell to £6.3m from £50.9m mainly due to increased investments, compared with the previous year. That was mainly due to its fibre roll-out in …
Kat Hall, 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

It's been a breach-tastic year. And Sophos sales were good, apparently

Operating losses at security software firm Sophos have grown in its first year as a listed company – despite increased sales and an encouraging outlook overall. For the year-ending 31 March 2016, Sophos recorded an operating loss of $32.7 million on revenues of $478.2m. This compares to a loss of $0.5m on revenues of $446.7m …
John Leyden, 26 May 2016
Jam

Florida man, Chinese biz fined $48k, $35m on mobe signal jam raps

The US Federal Communications Commission (FCC) has fined a Florida chap and a Chinese business over cellphone jamming boxes. The watchdog said it will try to extract [PDF] $34.9m from Shenzhen-based retailer CTS Technologies for marketing illegal jammers and, in a separate case, will fine [PDF] a bloke $48,000 for using a …
Shaun Nichols, 26 May 2016

Trad software sales type looking for a break? Atlassian shrugs

Most new companies are likely to opt for cloud-based software, the president of Atlassian said today. And that might just bring a tear to the eye of traditional IT sales bods, given that the company had grown to its $117.9m Q3 revenue off 57,000 companies, without ever having a fleet of besuited sales types. The JIRA and …
Joe Fay, 24 May 2016
whitehall_648

Business dept sinks £14m into canned shared services plan

The department for Business, Innovation and Skills has sunk £14m in consolidating its legacy kit as part of a cross-government shared services plan that it later pulled out of. According to an FOI response, BIS invested £13.9m during the first phase of consolidating back office services for the department and 13 public bodies …
Kat Hall, 23 May 2016
HBO: Game of Thrones

The Quantum of Solace: You've still got tape. Don't forget that

Quantum’s latest results show that scale-out storage is still not growing fast enough to outweigh declining tape storage revenues – and Quantum is still a shrinking business. Let’s do the annual numbers to show the big picture first. Revenues for the full fiscal 2016 year, ended 31 March, were $475.9m, down 14 per cent year- …
Chris Mellor, 11 May 2016

Brexit campaign group fined £50k for sending half a million spam texts

Pro-Brexit group Leave.EU has been fined £50,000 for sending up to 500,000 unsolicited text messages urging people to support its campaign, the Information Commissioner’s Office (ICO) said today. The group, registered as Better for the Country Ltd and funded by millionaire UKIP donor Arron Banks, broke the law by not having …
Stanley Kubrick's The Shining

Imation's losses deepen 500%. CEO says things are 'successful'

+Comment About turn! You never lack for excitement with Imation, which has turned the previous quarter’s $94m in revenues and near $10m in losses into this quarter’s $10.7m revenues and $91.1m losses. Oy vey, where did the money go? Let’s try and sort this amazing black hole of red ink – excuse the tortured metaphors – into some kind …
Chris Mellor, 11 May 2016
Sticker gun, image via Shutterstock

NetSuite CEO: 'It will be $99 forever for every user'

NetSuite has ruled out following its business-apps-as-a service peer Salesforce in hiking prices for customers. Zach Nelson, chief executive since 2002, has fixed his firm's monthly per-user pricing – currently at $99 - in stone. Business-cloud software rival Salesforce has increased its core pricing, stable and barely changed …
Gavin Clarke, 09 May 2016
Live news illustration with microphones and cameras

Qlogic beats own estimate

Storage connctivity biz QLogic beat estimates with a Q4 revenue raise. Instead of the expected $116m, QLogic revenues were $119.4m in its fourth fiscal 2016 quarter, down 10.5 per cent year-on-year and, as seasonally expected, down 2.7 per cent on the prior quarter. Full fy2016 revenues were $458.9m, 11.8 per cent less than …
Chris Mellor, 06 May 2016
Pennies in a jar. Photo via Shutterstock

Long term sick-note abuser Misco not losing nearly as much money

A pinkish hue has yet to return to the cheeks of sickly European reseller Misco but its latest financials indicate the patient is finally out of intensive care - the same cannot be said of its parent. Most of Misco’s vital statistics improved in calendar Q1, all but sales which slipped 5.3 per cent to $258.2m - or were down a …
Paul Kunert, 04 May 2016

Gozi trojan mastermind sentenced by US court to time served

The self-confessed creator of the infamous Gozi trojan was sentenced to time served and ordered to pay $6.9m in restitution by a New York court on Monday. Nikita Kuzmin, a 28-year-old Russian citizen, pleaded guilty to computer hacking and fraud charges in May 2011. He was released after 37 months served on remand, as part of …
John Leyden, 04 May 2016

Argos defection to Tech Data whips Ingram Micro's bottom... line

The loss of a retail supply contract with Argos helped push Ingram Micro’s European sales growth into the barrier’s during car crash Q1 financials. The US-headquartered tech distributor reported sales of $2.66bn on this side of the pond for the period ended 31 March. This was down 13.35 per cent year-on-year. Ingram is being …
Paul Kunert, 03 May 2016
Happy business people celebrate. Photo by Shutterstock

There's never been a better time to be a product reseller... if you like pain

Tough times are here again for the on-premise infrastructure providers with Insight Enterprises the latest to report top line slippage. The global reseller filed sales of $1.17bn for calendar Q1, down four per cent year-on-year, as declines in European and Asia Pacific ops wiped out the slight progress made in North America. …
Paul Kunert, 29 Apr 2016
Small truck skids towards side of road as wheel comes loose. Photo by shutterstock

WD’s revenue wheels have fallen off. Profits are sinking, too

WD is experiencing global disk drive cooling as the slowing PC jetstream and flash El Nino jointly disrupt the HDD environment. But that's enough in the meteorological metaphor line. WD revenues fell 21 per cent year-on-year to $2.8bn in WD’s third fiscal 2016 quarter, which closed April 1. The quarter-on-quarter compare …
Chris Mellor, 29 Apr 2016

Chomp! Barracuda gets its bite back after turning a profit again

The sum of $83.7m exceeded Barracuda’s revenue estimates for its fourth fiscal 2016 quarter, ended Feb 29, 2016. It was a 16 per cent rise year-on-year and a 4.5 per cent rise quarter-on-quarter. There was a $3.2m net profit, pleasing after five straight loss-making quarters. The full year revenue number was $320.2m, 15.4 per …
Chris Mellor, 28 Apr 2016
Gary Kovacs, CEO of AVG. Pic: World Economic Forum

Mobile antivirus sales offset declining search revenues for AVG

The scourge of Android malware is helping to bolster the bottom line of security software firm AVG but the firm still ended up recording a slight decrease in profits. For the first quarter ending 31 March 2016, AVG posted revenues of $107.9m, compared to $102.8m in Q1 2015, a rise of five per cent. Sales from AVG’s emerging …
John Leyden, 28 Apr 2016

Check Point chugs on: Profits and revenues up despite volatile market

Check Point’s share price has dipped a touch after the firm reported lacklustre Q1 financial results. During the first quarter ending 31 March 2016, Check Point’s total revenues came in at $404m, compared to $373m in the first quarter of 2015, a nine per cent increase year-on-year. Its GAAP net income rose, albeit modestly. …
John Leyden, 21 Apr 2016
Close up of etched silicon

ARM Holdings gives the thumbs-up, reports revenue and licensing uptick

Chip designer ARM has reported revenue and profit increases in Q1, with its shares trading up despite a moody FTSE 100 this morning. Q1 2016 saw a year-on-year dollar revenue rise for ARM at 14 per cent (22 per cent in £) when its results were posted today. Pre-tax profits of £137.5m are an increase of 14 per cent year-on-year …

Mitel nabs Polycom in $1.96bn deal

Elliott Management has struck again: Mitel has agreed to cough $1.96bn for bigger unified comms rival Polycom some months after the activist investor took a stake in both businesses and started the match-making. The $23bn hedge fund took a 6.6 per cent stake in Polycom and 9.6 per cent in Mitel in October and was calling for …
Paul Kunert, 15 Apr 2016
channel_teaser_exit

Capita not sitting on Hands: IT Enterprise Services boss splits

Capita IT Enterprise Services (ITES) overlord Peter Hands has strapped on his walking boots and strolled right out of the business for pastures news, the company has confirmed. Insiders claimed Hands had been under some pressure from the group’s joint COO Dawn Marriott-Sims, who was critical of the whole of ITES, “especially …
Paul Kunert, 11 Apr 2016
trolley_shopping_648

Exertis slurps wireless distie Siracom

One of the UK’s bulkiest tech distributors Exertis has piled on a few more pounds by acquiring wireless infrastructure and security minnow Siracom for an undisclosed sum. Siracom, which also has offices in beautiful Basingstoke, sells products and services from vendors including Samsung, Fortinet and a bunch of lesser knowns. …
Paul Kunert, 07 Apr 2016
The lift-off of New Shepard

3D printers set for lift off? Yes, yes, yes... at some point in the future

3D printing is still perched on the edge of greatness, industry types insist, but sales are not yet matching the marketing bluster. The latest stats in the shipment stakes arrived on our desks today from the number-crunchers at Context - units sales went up 19 per cent year-on-year in Q4 to 73,012 machines. Some 96 per cent …
Paul Kunert, 05 Apr 2016

Brocade stirs up a Ruckus, swallows wireless kit maker for $1.5bn

Brocade is buying Ruckus Wireless for cash and shares, valuing Ruckus at around $1.5bn, and giving it entry to the growing enterprise wireless networking market. The deal has been approved by both companies’ boards of directors. Ruckus stockholders will get $6.45 in cash and 0.75 shares of Brocade common stock for each share …
Chris Mellor, 04 Apr 2016

Sphere 3D keeps business ship afloat atop sea of red ink

+Comment Overland Storage's – oops, sorry – Sphere 3D's ability to walk on water, otherwise known as floating on red ink, continues unabated with its fourth quarter and full calendar year 2015 results. Tape and disk data protection vendor Overland Storage was bought by Sphere 3D in December 2014. Much has been made of its Glassware …
Chris Mellor, 01 Apr 2016