Articles about 9m

Ailing Calyx Managed Services flogged to MXC Capital for £9m

Private equity fund Better Capital has offloaded troubled Calyx Managed Services to tech investment and advisory house MXC Capital for £9m in what signifies a likely break-up of the biz. VC veteran Jon Moulton’s Calyx MS came on the market before Christmas, with corporate financier Rickitt Mitchell & Partners distributing an …
Paul Kunert, 23 Feb 2015
Google and Microsoft

Microsoft to Samsung: COUGH UP $6.9m in unpaid interest over Android PATENT SPAT

Microsoft is pursuing $6.9m in unpaid interest on smartphone royalty payments of more than $1bn from electronics giant Samsung, a freshly unsealed lawsuit revealed on Friday. The ugly spat comes after Redmond accused Sammy of violating a so-called arms length business contract between the two companies. Since then, Microsoft …
Kelly Fiveash, 04 Oct 2014

Former Systemax execs charged over $9m fraud, tax evasion

The Feds have now charged ex-Systemax senior exec Gilbert Fiorentino and his brother and former colleague Carl, with allegedly perpetrating fraud to the tune of millions of dollars as well as evading tax. The criminal case was last night confirmed by the US Attorneys’ Office for the southern district of Florida and the eastern …
Paul Kunert, 21 Nov 2014

Shazam! Record labels shovel $9m into name-that-song app

Three of the world's biggest record labels have clubbed together to invest in London-based name-that-tune firm Shazam. Access Industries, the company which owns Warner Music Group, and Universal Music Group owners Vivendi have teamed up with Sony Music Entertainment to each take a rumoured $3m stake in Shazam. Recent estimates …
Jasper Hamill, 15 May 2014
SOURCE: http://www.sxc.hu/photo/959469

US government nabbed $2.9m in May Bitcoin seizure

More information has come to light regarding the US government's recent seizure of funds from online accounts belonging to Mt. Gox, the world's largest Bitcoin exchange. El Reg reported in May that the Department of Homeland Security had frozen an account with mobile payment processor Dwolla belonging to Mutum Sigillum LLC, a …
Neil McAllister, 21 Aug 2013
The Register breaking news

Widow lost savings in Facebook stock, sues all concerned for $1.9m

Global financial services firm Morgan Stanley is trying to get its name removed from the securities case of a New Jersey widow who lost her life savings in the Facebook IPOcalypse. Uma Swaminathan filed an arbitration complaint with the Financial Industry Regulatory Authority (FINRA) looking for $1.9m compensation for the …

Redstone throws £9.9m at sickly managed services firm in all-share deal

Cloud and network integrator Redstone made a bid today for troubled managed services provider (MSP) Maxima, valuing the firm at £9.9m. The all-share deal between the AIM-listed firms equates to a 38 per cent premium on Maxima's market cap. Including the MSP's net debt of £3.9m at the end of May 2012, the acquisition represents …
Paul Kunert, 17 Sep 2012

Sales flat for takeover-tastic Brit IT bods Daisy Group

Comms and tech supplier Daisy Group, which is to be de-listed from the Alternative Investment Market (AIM) this month, has posted an operating loss of £8.1m for the first six months to September 2014. According to its audited half-year financials posted on 31 December, revenue dropped just 0.3 per cent from £173.9m to £169.6m. …
Kat Hall, 05 Jan 2015
Woman on phone. Pic: Carolyn Coles

AT&T fined for gouging Uncle Sam on phone plans for poor folk

AT&T has been fined $10.9m by US regulator the FCC for overcharging the government on phone plans for poor people. The watchdog said the telco over-billed the US government between 2012 and 2013 while providing the Lifeline service to hard-up citizens. Lifeline works like this: the cell networks offer discounted or free phone …
Shaun Nichols, 30 Apr 2015

Transport Dept dishes out £1.9m rail database deal to Capita

The Department for Transport (DfT) has awarded Capita Symonds a contract for a rail passenger counts database system, worth £1.9m. The database will allow all train operating companies (TOCs) to upload data about the number of passengers on train services into a single, standardised, database. "The data will then be used by DfT …

US titans roll out the numbers... wow, reselling is a tough game

Calendar Q1 numbers are out for shape-shifting resellers Insight Enterprises and Systemax, with the former reporting flat sales and profits but the latter faring much, much worse. Both are trying to rapidly develop services operations based on consulting, managed services and the cloud to replace commoditised or 'empty calorie' …
Paul Kunert, 12 May 2015

UK.gov quietly slips extra cash to AUTO ROBOTICA bods

The UK government is adding another £9m to the pot for driverless car trials in Blighty, allowing four cities to start the tests next year instead of three. Although it didn’t feature in Chancellor George Osborne’s speech, the Autumn Statement said the UK is adding the extra funds into the previously announced £10m competition …
The Register breaking news

Hunt splashes £56.9m broadband cash on Wales

Wales has won broadband funds of £56.9m from the Coalition's £530m investment pot, following a successful bid for the cash from the Welsh Assembly. However, the Welsh government needs to match the investment if it hopes to achieve its "superfast" broadband upgrade plan to reach 90 per cent of homes and businesses in Wales. "If …
Kelly Fiveash, 12 Jul 2011

Life after Lord Shugs looks good, as Viglen directors' packages swell

Being a director at Viglen has become considerably more lucrative since Lord Shugs offloaded the tech supplier to Westcoast Holdings. The last standalone financials from both Viglen and sister firm XMA (the pair have been integrated) were filed at Companies House and make for remarkably boring reading, but in a good way. The …
Paul Kunert, 31 Mar 2015

Flying giant octopus menaces New York

The New Statesman has pulled off a bit of a blinder by whipping out a giant octopus to helpfully explain to readers just how much a manhole cover weighs. The good burghers of Buffalo, New York, were recently menaced by a flying metal disk as the result of an underground explosion, apparently prompted by an electrical cable fire …
Lester Haines, 21 Apr 2015

Redcentric swoops on Calyx Managed Services in £12m breakup deal

Managed services biz Redcentric has snapped up Calyx Managed Services (CMS) for £12m, as part of the company's break-up. Last week, Calyx's maintenance and carrier services divisions were offloaded to Daisy Group and Chess, respectively, for a total of £5.5m. The carve up follows the purchase of Calyx MS by MXC Capital, with …
Kat Hall, 02 Apr 2015
Flash Gordon

Who won all-flash sales sash, sucked up all the cash? – IDC report

An EMC-distributed excerpt of an IDC all-flash array shipments and revenues report has Hopkinton topping the sales rankings, with NetApp at number four and IBM topping the capacity-shipped chart. The report is a special IDC one, titled Worldwide All-Flash Array and Hybrid Flash Array 2014–2018 Forecast and 1H14 Vendor Shares. …
Chris Mellor, 10 Dec 2014
Pinterest iPad

What are your links worth to Pinterest? $11 BEEELLION!

Social link-sharing site Pinterest has taken in a new round of funding that gives the firm at a hefty US$11bn valuation. The company said in an SEC filing that it had already agreed to sell off $367,099,927 in equity and hopes to move another $210,816,979 (for a total of around $577.9m) in venture capitol investments. That sale …
Shaun Nichols, 17 Mar 2015

If you can explain what 'an API management platform' is, you too can be worth $700m

Cloud software company Apigee has filed IPO documents and plans to raise $86m on a total valuation of $700m. The San Jose-based company touts "an API management and predictive analytics platform," whatever that is, and boasts clients including eBay, Adobe, AT&T, Citrix and the BBC. Competitors include giants IBM and Oracle. The …
Kieren McCarthy, 20 Mar 2015
The Black Knight, defeated

Merged Sphere 3D merrily continues Overland's loss trend

Sphere 3D, now replete with the fruits of its Overland Storage merger, has carried on Overland's history of declining revenues and constant losses. We thought we might have had to undergo a mental reset for a moment. Canadian application virtualisation software hawker Sphere 3D took over/merged with Overland recently and this …
Chris Mellor, 14 May 2015
Screen capture of iTunes on Mac

$533 MEEELLION – the cost of Apple’s iTunes patent infringement

Apple has been ordered to pay nearly half a billion dollars to Texas-based patent licensing company Smartflash after a jury found that Cupertino's iTunes music service had violated three patents. Late on Tuesday, a jury at the U.S. District Court for the Eastern District of Texas – when asked if Smartflash had proved "by clear …
Team Register, 25 Feb 2015

Cash-happy Quantum is poised to enter the HPC market

Quantum's confirmed fourth quarter and full fiscal 2015 results were better than the prelim numbers, with full year net income the highest in more than five years, and it's aiming to move into high-performance computing storage. Q4 revenues were $147.8m (the preliminary figure was $145m) with net income of $12.9m (prelim: $12m …
Chris Mellor, 07 May 2015

Adapt Managed Services to be sold this year, whisper sources

Managed services and cloudy hosting biz Adapt is putting corporate finance houses through their paces before choosing one to manage a sale of the operation. Private equity firm Lyceum Capital coughed £30m for a majority stake in London-based Adapt in 2011 and multiple sources reckon the business will be on the market again from …
Paul Kunert, 21 Apr 2015
Bank vault

Romanian rozzers round up alleged $15 MILLION ATM cybercrim gang

Romanian police have arrested 25 people who are suspected of being part of a cyber-crime gang that organised $15m in fraudulent bank withdrawals. The Romanian Directorate for Investigating Organized Crime and Terrorism (DIICOT) searched 42 houses across the country on Sunday in connection with more than 34,000 fraudulent cash …

Lawsuit schmawsuit: Pure lures EMC UK boss James Petter

EMC veteran and UK boss James Petter is defecting to flash nemesis Pure Storage to take on a senior European role. Petter has been at EMC for a little over eleven years, and prior to that was a district manager at Cisco, covering the defence, SI and outsourcers sector. In a statement, Pure confirmed Petter will join as EMEA …
Paul Kunert, 20 Jan 2015
Bang by Guian Bolisay

Meru Networks CEO: 2014 was a year of Cs & Ds

Business went from bad to worse for troubled WLAN maker Meru Networks in calendar 2014: losses widened and sales shrunk, paving the way for a fresh round of workforce throttling. The NASDAQ-listed firm warned the view from its deck wasn’t pretty in Q4 prelims released a month ago, and it wasn’t wrong – turnover crashed 28 per …
Paul Kunert, 10 Feb 2015

Computacenter's Brit team basks in double digit sales glory

It was again the Brit arm of services-based reseller Computacenter that brought home the bacon for the group in 2014, as operations in continental Europe continued to wrestle with contract or market woes. The group turned over £3.108bn in sales, up 1.2 per cent as reported or 4.2 per cent in constant currency, the fifth straight …
Paul Kunert, 12 Mar 2015
Close-up of the flu virus (artist's impression) - Shutterstock

US judge lobs antivirus patents back to Hell

A US district court has torn the heart out of two patents wielded by Intellectual Ventures against two antivirus makers. In a judgment [PDF] this week, Chief Judge Leonard Stark ruled that Intellectual Ventures' US patents 6,460,050 and 6,073,142 were "ineligible," meaning they are too vague and the technologies they described …
Shaun Nichols, 24 Apr 2015
Fluffy grey ragdoll cat relaxes next to laptop.

Distribution of cream among EMC executive fat cats revealed

Fancy finding out how much EMC fat cats earn? Read on. Total compensation – meaning share options, salary and bonuses – for the top execs at EMC Information Infrastructure (EMC II) in 2014 looked like this: Joe Tucci (EMC Chairman & CEO) – $11,203,318 David Goulden (EMC II CEO) – $10,531,257 Howard Elias (President & COO …
Chris Mellor, 23 Mar 2015

I see you have the gTLD that goes .ping!

The company behind Ping golf clubs and owner of ping.com has paid domain name overseer ICANN $1.5m for the rights to the top-level domain .ping. The auction pitched it against one other applicant (general registry company Radix) and also included a second internet extension, .srl, which went for $400,000. The suffix "SRL" is …
Kieren McCarthy, 26 Mar 2015
Fraud image

New licence and SAP unit sale knackers Software AG's numbers

Delayed IT projects and offloading the SAP business have dealt Software AG’s business a double blow for its latest quarter. Germany’s other major software maker today reported a second-quarter revenue drop of 18 per cent to €196m ($263.9m) and net income halved to €14.2m ($19.1m). Earnings per share was also almost halved to €0 …
Gavin Clarke, 24 Jul 2014
Sorry we're closed

Systemax CEO closes 31 retail stores in US as losses widen

Systemax has finally shuttered the majority of its consumer tech stores in North America after once again enduring weak holiday season sales and reporting yet another year of losses. The New York-listed reseller grew consolidated sales 4.4 per cent to $912.9m but it was the B2B side of the house and not retail that contributed …
Paul Kunert, 11 Mar 2015

EMC parachutes EMEA bigwig into UK boss role

EMC has unloaded UK managing director responsibilities onto EMEA head Adrian McDonald on an interim basis following the defection of James Petter to flash adversary Pure Storage. Earlier this week it emerged that Petter had opted to join the relative upstart as EMEA veep and replace Steven Rose, an industry veteran who was in …
Paul Kunert, 22 Jan 2015
gavel_judgment_channel

Samsung says teaming up with mobe-maker Microsoft could violate antitrust law

Samsung has taken a new tack in its ongoing patent royalty spat with Microsoft, claiming that its former partnership with Redmond should be considered null and void as it could violate US antitrust law. Microsoft is suing Samsung for $6.9m in interest on royalties that it says it's owed under the terms of a 2011 business …
Neil McAllister, 01 Nov 2014
management regulation1

Symantec to cough up $17m after bloody dust-up with patent troll

Symantec must pay out $17m after losing a patent infringement battle to IP-hoarding house Intellectual Ventures. A jury in Delaware found in favor of Intellectual Ventures on two of three infringement claims, awarding the biz $8m in damages for one claim and $9m for the other. Symantec was found to have infringed on two patents …
Shaun Nichols, 10 Feb 2015

Life is good in the data centre – UKFast boss reports from hot tub

If life is hard in the data centre space, then someone forget to tell the boss of UKFast, who may just be toasting a bumper 2013 from the confines of his corporate hot tub. The Manchester-based hosting biz, which plies its trade from three fully owned bit barns in Trafford Park, posted results for last calendar year and they …
Paul Kunert, 13 Oct 2014

RM has been schooled: Sales fell by over £69m in fiscal 2014

The downward pressure on school budgets, the shuttering of the PC production line and the shift from reselling hardware sucked almost £70m in sales out of education supplier RM last year. The company reported turnover of £202.5m for the fiscal 2014 ended 30 November, down more than 22.5 per cent year-on-year, with the Education …
Paul Kunert, 02 Feb 2015

Labour has a pop at the government over missed GDS targets

In a pre-election pop at the coalition, Labour has slammed Cabinet Office minister Francis Maude for the Government Digital Service's failure to meet even half of its digital targets for online services. The GDS budget increased from £9.7m in 2011/12 to £23.3m in 2013/14, with spend on IT specialists rising to £7.9m over the …
Kat Hall, 27 Mar 2015
HP

HP gulps down Aruba Networks for $3bn

After a period of abstinence from mega buys, HP has dipped into its cash reserves to find $3bn (£2bn) for wireless infrastructure biz Aruba Networks. The deal will form a welcome plug to HP's sliding network biz, which fell 10.8 per cent to $562m (£365m) in the company's first quarter results last week. Aruba posted sales of $ …
Kat Hall, 02 Mar 2015

Cheer up songwriters, there's shedloads of money rolling in

The UK's performing sights society PRS for Music recorded a slim profit of £1.4m last year on turnover of £73.9m. The society collects and distributes royalties for songwriters and music publishers from radio, physical venues and plays on the internet, as well as the “mechanical” – a small proportion from the sale of a sound …
Andrew Orlowski, 22 Apr 2015
The Register breaking news

$9m RBS WorldPay hack mastermind avoids jail

The Russian hacker at the centre of a massive $9.4m fraud against RBS WorldPay has avoided jail after he agreed to turn informant on his fellow cybercriminals and pay compensation to the bank. Viktor Pleshchuk, 29, of St. Petersburg, Russia, received a six year suspended sentence after agreeing to pay back 275m roubles ($8.9m) …
John Leyden, 10 Sep 2010
The Register breaking news

Russian Vostok capsule sells for $2.9m

A Vostok capsule identical to the one in which Yuri Gagarin became the first man in space sold at auction yesterday for $2.9m. The Vostok 3KA-2 capsule. Pic: Sotheby's On 23 March 1961, the Vostok 3KA-2 (pictured) carried the life-sized mannequin Ivan Ivanovich and the dog Zvezdochka ("Little Star") on a 115-minute space flight …
Lester Haines, 13 Apr 2011

Calyx Managed Services break-up begins. Just like we told you

The expected break-up of Calyx Managed Services has started, with the maintenance and carrier services divisions offloaded to Daisy Group and Chess Ltd respectively for a total of £5.5m in cash. It always seemed inevitable that Calyx MS would be carved up and sold off when private equity fund MXC Capital paid £9m to buy the …
Paul Kunert, 24 Mar 2015
IMation_Q3fy2014

Scalable storage outfit Imation SLIDES BACK after recovery

Analysis Formidably troubled storage outfit Imation, the company dragged down by delayed exits from the tape and optical media markets, has recorded a third quarter loss 76 per cent worse than last year on revenues just nine per cent down on the year. The third 2014 quarter saw revenues of $175m, compared to $178.6m a quarter ago and $ …
Chris Mellor, 04 Nov 2014

BOXing clever: Data biz embiggens sales - then its shares slump

Box, the freemium business data sharer, saw satisfying revenue growth and controlled losses for its fiscal 2015 fourth quarter and full year, although it disappointed analysts, whose comments prompted a 17 per cent share price fall. Highlights: Q4 FY 2015 revenue was $62.6m, up 61 per cent from $38.8m a year ago Q4 FY 2015's …
Chris Mellor, 12 Mar 2015

Brit giant Daisy stuffs face with treats, but she ain't piling on ££££££s

Telecoms provider Daisy Group forked out tens of millions of pounds on acquisitions in fiscal 2014 – only to see its top line stagnate as organic growth fell off a cliff in its legacy calls business. Operating losses have widened and debts mounted. The British biz spent £35.3m on four buys: £7.5m to pick up two of 2e2's data …
Paul Kunert, 17 Jun 2014

Arrow Electronics buys Computacenter tech disposal biz for £56m

It may be cold outside, but Computacenter (CC) investors have got a warm glow this morning – they are to receive a £100m windfall, partly financed by the sale of the tech disposal and asset recovery biz. The London-listed tech supplier last night revealed to the City the sale of RD Trading (RDC) for £56m in cash to the UK arm of …
Paul Kunert, 03 Feb 2015

CSC picks up axe, takes aim at its own profitable bits

CSC confirmed last night it is to split the US public sector biz from the rest of the group – the only division last quarter where sales aren’t dropping and which generates the highest operating profit. As expected, the hard-pressed integrator is to hive off the operation into a separately listed company, with sales of $4.1bn …
Paul Kunert, 20 May 2015

Outsourcery wins first G-Cloud deal, justifies spot on SME panel

It only took almost 20 months to win any business via G-Cloud’s online services catalogue but Outsourcery has finally signed a deal. It was getting a little embarrassing for the cloudy outfit, whose co-CEO Piers Linney sits on a Gov.uk SME panel set up to advise fellow small biz owners on how to snare Gov.uk contracts. The deal …
Paul Kunert, 26 Feb 2015
£10 notes. Pic: Howard Lake

Computacenter UK giggles as cash rains on revived data centre ops

Computacenter’s UK sales team must be in self-licking mode after a barnstorming start to calendar ’15 – but revenue zapping currency conversions and an unsettled French operation hit the group’s top line. In a trading update, the London-listed services-based reseller said Q1 revenues reduced by two per cent as reported to £715. …
Paul Kunert, 23 Apr 2015