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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

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 …
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
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Capita splashes £57.5m on Eye-of-Sauron car-park watchdog biz

Crapita Capita has snapped up a reputation-boosting biz: the integrator will splash £57.5m on ParkingEye, which sells technology to monitor car parks to ensure nobody gets a freebie or goes dogging. Lancashire-based ParkingEye provides "remote enforcement, management information and alerting systems", and its intellectual …
Paul Kunert, 24 Oct 2013

Yahoo! co-founder Jerry Yang joins board of Oracle rival Workday

Yahoo! co-founder Jerry Yang is taking a hand in the affairs of fast-growing Oracle and SAP competitor Workday. Workday announced on Monday that Yang had joined its board, where he’ll lend his experience helping build its Enterprise Resource Planning (ERP) service. The company is banking on Yang’s experience in building …
Gavin Clarke, 26 Nov 2013
The Triton unmanned aircraft system completes its first flight May 22, 2013

US Navy trials GIANT ROBOTIC SPYBIRD for coastal patrols

The US Navy has completed early test flights on a drone aircraft which sports a wingspan of more than 130 feet (39.9m). Northrop Grumman said that its MQ-4C Triton aircraft has passed a series of nine test runs with the Navy. The trials are designed to test the craft's endurance and manoeuvrability under normal flight conditions …
Shaun Nichols, 08 Jan 2014
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
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
Peter Jones, Dragon's Den star

Dragons' Den badboy ups Expansys bid to £7.55m

Lanky Dragons' Den badass Peter Jones is edging closer to signing a deal to buy AIM-listed Expansys for a fraction of the price of some shares he placed on the market in 2010. The irascible tennis aficionado – Jones trained as a coach in his teens – launched an initial buy-out offer of £6.1m via PDJ Bidco in January, but upped …
Paul Kunert, 03 Mar 2014

Violin CEO gazes at red-smeared accounts: Firm posts $149m loss

Incoming CEO Kevin DeNuccio has presided over Violin Memory's first quarterly results since assuming the hot seat and painted a real poor picture. The only way is up, right? It's traditional; an incoming CEO rescuing a troubled firm clears out all the lousy items on the first earnings call to help make subsequent ones look good …
Chris Mellor, 07 Mar 2014
Quantum LTO-6 Ultrium tapes

Quantum: OK, we're not flogging as much as hoped, but at least we only lost $2.4m this time

Quantum's revenues declined in its third quarter but its losses shrank much faster. The third fiscal 2014 quarter, which finished on 31 December, saw revenues of $146m, down 8 per cent on the year-ago number, but with the expected seasonal hike up from the prior quarter’s $131.4m. There was a net loss, which we hadn’t expected …
Chris Mellor, 31 Jan 2014

Oracle's Larry Ellison has the MOST MASSIVE PACKAGE IN PUBLIC

Oracle founder and chief exec Larry Ellison has managed to stay one of the highest-paid CEOs of the hundred largest publicly traded US firms for another year, despite his shrinking package. Ellison topped the lot with a take-home of $78.4m in 2013. That's a hefty hunk of dosh, but it was down $18m from his 2012 compensation. The …
The Register breaking news

BBC IT project to save £17.9m cost it £38.2m net

MPs have given the BBC a kicking over its Digital Media Initiative, a technology development programme that was meant to deliver a "benefit" of £17.9m but ended up costing it a net £38.2m. The Public Accounts Committee hauled the Beeb over the coals, questioning why the project was handed to Siemens in 2008 without tendering, …
Joe Fay, 07 Apr 2011

Entanet calls on equity firm Mobeus to back £14m MBO

Wholesale internet connectivity services provider Entanet has completed a £14m managed buyout with the backing of private equity firm Mobeus. MD Elsa Chen, financial director Ian Brewer and sales director Stephen Barclay were involved in the deal that saw the VC stump up £6m to invest in workforce (currently 85 heads) and …
Paul Kunert, 21 Feb 2014

Ex-BT boss bags £9 MILLION bye-bye bundle, moves to key gov post

BT's former boss Ian Livingston just received an extremely generous leaving present from the telecoms giant – 2.6 million shares in the company worth about £8.9m. Earlier this month, Livingston left BT for his new, unpaid job in the House of Lords as Prime Minister David Cameron's Minister of State for Trade and Investment. The …
Kelly Fiveash, 20 Sep 2013
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Shape-shifting box shifter Systemax made cash... from non-IT kit

A write-off of deferred tax assets helped to widen losses at ailing Systemax during Q4 as the tanking consumer biz in North America more than offset sales growth in the Industrial Products division. It was an eventful end to another eventful year for the shrinking reseller, with turnover in the final three months of 2013 down 7. …
Paul Kunert, 05 Mar 2014

Losses widen but Daisy Group plans to keep wolfing down companies

Daisy Group may be stepping ever closer to being one of the most hefty comms and tech services outfits in the UK mid-market but all that is just hubris if it can't turn a profit, and seemingly it cannot. Sales slipped 2.35 per cent to £173.1m in the first half of fiscal '14 ended 30 September, but one-off costs pushed up …
Paul Kunert, 03 Dec 2013

FalconStor preens its feathers as turnaround gathers speed

Virtualisation outfit FalconStor is starting to move on the product front again, and is combining its VTL (Virtual tape library) and FDS dedupe product into a single offering, claiming 50 per cent cost-savings. The FDS (File-interface Deduplication System) offers post-processing and/or concurrent block-level deduplication with a …
Chris Mellor, 19 Feb 2014
Monster Beats Pro

HTC Beats off loss, but shares slip after disappointing quarter

HTC saw its shares slip 3.61 per cent in Taiwan as it narrowly avoided a quarterly loss, saved only by booking a profit from selling its stake in headphone brand Beats Electronics. The Taiwanese smartphone maker reported a worse-than-expected net profit yesterday, of just $300m ($10m) compared to a net loss in the previous …
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Enormo reseller SCC rejgs exec chairs for growth spurt

Specialist Computer Centres (SCC) has initiated a restructure to spearhead a four-year growth plan, say our sources in vendor land. This follows a review by external consultants who were drafted in to help create the multi-year business plan, with more highly paid biz advisors believed to be coming in to help implement plans. …
Paul Kunert, 21 Jan 2014
The Register breaking news

Russia arrests three over $9m RBS WorldPay scam

Three men suspected of orchestrating a massive $9m cyber-raid on RBS WorldPay involving cloned payroll cards and hacking have been arrested by Russian's FSB internal security service. Viktor Pleshchuk, the alleged ringleader, and two accomplices, Sergei Tsurikov and Oleg Covelin, were arrested on suspicion of masterminding the $ …
John Leyden, 22 Mar 2010

UK storage integrator Glasshouse Tech goes titsup

Glasshouse Technologies has called the administrators into its UK ops after directors exhausted all possible solutions to heal the sickly infrastructure services integrator. El Chan can reveal that KPMG Restructuring answered the cries for help on 27 March just days before Glasshouse was due to attend a winding up petition at …
Paul Kunert, 02 Apr 2014

Hey IBM – Lenovo here. Sort your server factory strike out, will you?

Chinese PC maker Lenovo has shrugged its shoulders at a strike in a server factory in China, saying that it's up to IBM to sort out the dispute before its server business transfers to Lenovo later this year. Yet Lenovo has said that it will keep the same salaries and benefits in place for Big Blue employees moving across. More …
paper cut-out men holding hands in linked semi-circle

Bell Microsystems circles cawing above corpse of Glasshouse UK

South coast-based tech supplier Bell Microsystems is trying to pick up customers and staff at bust storage integrator Glasshouse Technologies. As we revealed a couple of days ago, hard pressed Glasshouse called in KPMG Restructuring after cash flow dried up, with the administrator looking to offload the business to a third party …
Paul Kunert, 04 Apr 2014

AIM-listed Coms hoovers up Actimax for £3.4m

Acquisitive cloud-based telephony player Coms Plc has hoovered loss-making comms dealer Actimax in a cash splurge that could rise to £3.4m depending on results. AIM-listed Coms, which dug deep and found £9.5 to buy Redstone back in November, also revealed it is planning to place more shares on the market to raise £7.9m after …
Paul Kunert, 12 Feb 2014

Trustmarque swallows Scot services house Opin Systems

Top table Microsoft Gold partner Trustmarque Solutions has devoured Glasgow-based tech services and consultancy minnow Opin Systems for an undisclosed sum. Opin, which set up in 1990, counts some heavy duty customers on its books including the UN, The Student Loans Company, The Scottish Prison Service and RBS. It sells …
Paul Kunert, 09 Dec 2013

Korean credit card companies hit with 90-day, $100m sales ban

Three South Korean credit card firms which are thought to have exposed the personal data of 20 million customers have been forced to suspend all new business for three months in a blow which could cost them nearly $100 million. Korean regulator the Financial Services Commission (FSC) said the firms were not allowed to sign up …
Phil Muncaster, 20 Feb 2014
Simpana 10 Content Store

CommVault boosts profits by 25%, bucks storage slump trend

Data backup and archive software supplier CommVault has delivered a object lesson in how to run a business, filing Wall Street-beating revenues and profits for its latest quarter. Its revenues for the second quarter of its fiscal 2014 were $141.9m, up 20 per cent annually and 6 per cent more than the previous quarter. Net income …
Chris Mellor, 29 Oct 2013
Kim Dotcom

Big Content goes after Kim Dotcom

Kim Dotcom is getting all outraged again and banging the freedom-of-something gong with his usual enthusiasm after six Hollywood studios slung a sueball his way. In a court filing you can see in PDF form here, twentieth Century Fox, Disney, Paramount Pictures, Universal Studios, Columbia Pictures and Warner Bros all take issue …
Simon Sharwood, 08 Apr 2014
imation flash wristband usb storage

Ending the profit fail: Imation FINALLY posts a positive quarter

Scalable storage outfit Imation has finally announced a profitable quarter after 15 loss-making quarter in a row. It's stemming the bleeding at last as its optical and tape media revenues spiral downwards. The newer businesses are beginning to grow fast enough to offset that. Revenues of $232.8m for the fourth quarter, ended Dec …
Chris Mellor, 11 Feb 2014

Lord Shug ends Viglen ownership with a bang

Lord Shuggie's public sector tech supplier Viglen booked a double digit sales and profit hike in fiscal '13 ended 30 September - the final full financial year under the hirsute walnut's ownership. After autumn negotiations, the business was offloaded to XMA in January for an undisclosed sum – with chief exec Bordan Tkachuk …
Paul Kunert, 13 Mar 2014
John Chambers at the World Economic Forum 2010

Profit healthy, sales up, 4,000 staff face axe. Cisco CEO, here's your pay doubled to $21m

Cisco chief exec John Chambers has received a whopping pat on the back from the networking giant with a pay rise of nearly 100 per cent. According to a regulatory filing, the biz supremo saw his total annual compensation almost double to a massive $21.05m (£12.9m) in the financial year that ended on July 27, up from a measly $11 …

Big data minnow swallowed by security player Accumuli

AIM-listed specialist security player Accumuli has coughed £1.9m for small Bracknell-based big data analytics reseller and integrator EQUALIS, it confirmed to the City today. This bolt-on-buy adds a seven-strong band of big data boffins that sell software from Splunk - for which EQUALIS is Blighty's only authorised training …
Paul Kunert, 02 Dec 2013
graph up

Microsoft hit with €9m fine over German pricing

The German competition authority, the BundesKartellamt, has fined Microsoft €9m for colluding with retailers to set the price of "Office Home and Student 2007". Suppliers are allowed to talk to retailers about prices but need to be careful not to break competition rules. But in this case, Microsoft staff and a leading German …
John Oates, 08 Apr 2009

Colt Technology Services bigwigs exit stage left

Colt Technology Services exec director Simon Walsh and some of his lieutenants have exited the business, The Channel can reveal. "We can confirm that Simon Walsh no longer works for Colt Technology Services and that Jürgen Hernichel is now leading that area of the business," a Colt PR person told us. Previously, Hernichel was …
Paul Kunert, 14 Nov 2013
Pierce Brosnan in Tomorrow Never Dies

Tape straightens its tie, speeds away from villain's lair: I think I'll die another day

Declines in the sales of tape media are decreasing and the death of tape has now been postponed - indefinitely. The Santa Clara Consulting Group tracks the tape market on a quarterly basis and its latest release describes what happened in the third 2013 quarter. Total backup tape cartridge sales were $141.73m with LTO format …
Chris Mellor, 03 Dec 2013
Playground spring horse

TalkTalk's broadband base continues to fall as TV subs grow

TalkTalk reported flat sales during its second quarter as some of the budget telco's subscribers switched off the ISP in favour of a rival provider. The company's boss Dido Harding blamed a "noisy" market in the build up to the start of the Premier League football season. Churn on TalkTalk's broadband base rose to 1.7 per cent …
Kelly Fiveash, 12 Nov 2013

Ex-CEO Elop's plunder to total $25m in voyage from Nokia to Microsoft

Outgoing Nokia CEO Stephen Elop will receive compensation and bonuses totaling approximately $25.4m as he departs the company for his new position at Microsoft. The payout was revealed in proxy materials for the Finnish firm's "Extraordinary General Meeting" to be held on November 19, during which shareholders are expected to …
Neil McAllister, 19 Sep 2013

Phoenix IT Group blames former CEO and economy for woes

Phoenix IT Group chairman Peter Bertram fingered his former CEO and the fragile economic recovery as reasons why trade remains damp and profits have yet to rebound in a more meaningful way. At the half way stage of fiscal '14 for the six months to 30 September, the beleaguered LSE-listed firm reported a near six per cent decline …
Paul Kunert, 28 Nov 2013
Scrooge McDuck

Lenovo cracks its first ever $10bn quarter

Lenovo sold a record-breaking 32.6 million pieces of kit in the last quarter, passing the $US10 billion (£6bn) revenue milestone for the first time. The PC giant’s third fiscal quarter ending 31 December saw revenue up 15 per cent year-on-year to $10.8bn (£6.5) and profits up even more, growing 30 per cent to $321m (£193m). The …
Phil Muncaster, 13 Feb 2014
Panasonic_plasma

Panasonic throws in towel on plasma tellies, preps for BILLION-dollar kick in pants

Panasonic is reportedly planning to pull out of the plasma TV business by the end of the financial year. The TV market has proved more and more unprofitable for once-dominant Japanese consumer electronics firms and Panasonic was expected to give up on the plasma display industry at some point, though its exit is sooner than …
The Register breaking news

eBay chief Donahoe sees his package nearly DOUBLE in size

eBay chief John Donahoe saw his compensation package shoot up 81 per cent last year to a whopping $29.7m as the online bazaar's stock grew 68 per cent. Donahoe was handsomely rewarded for the growth the marketplace site and its payment business PayPal saw last year, with a salary bump of three per cent to $970,353. That was …
Ingram Micro

Even world's most MASSIVE distie takes punch to wallet

Restructuring costs, higher taxes and aggressive pricing on both sides of the pond throttled Ingram Micro's profits for calendar Q1 but acquisitions allowed the world's largest tech distie to post double-digit sales gains. Turnover climbed 19 per cent to $10.26bn including a $1.1bn contribution from Brightpoint and $75m from …
Paul Kunert, 26 Apr 2013

EMC loses half a BEEELLION on VCE ... but it's NOT what it seems

EMC has lost a cool half billion dollars on VCE, the converged server-storage-networking biz it founded with Cisco, VMware and Intel. VCE makes vBlocks, bundled Cisco servers and switches, EMC storage and VMware's hypervisor, which are packaged as single systems instead of four separate components: thus being much easier to buy …
Chris Mellor, 06 Mar 2013
KCom

Flat is the new bulging, down at Kcom

If flat is the new growth in the channel then comms services provider Kcom turned in a reasonably steady performance for fiscal '13 ended in March. Turnover dipped 3.7 per cent on the previous fiscal to £372.9m, and operating profit came in nearly five per cent down year-on-year to £54.9m including £2.2m of personnel …
Paul Kunert, 07 Jun 2013
HTC 8X Windows Phone 8

Microsoft says WinPhone outselling iPhone, BlackBerry

Windows Phone is outselling the iPhone in seven nations, says Microsoft mouthpiece corporate vice president of corporate communications Frank X Shaw. “Windows Phone has reached 10 percent market share in a number of countries, and according to IDC’s latest report, has shipped more than Blackberry in 26 markets and more than …
Simon Sharwood, 28 Mar 2013
CS400

Mutant array upstart Nimble Storage slips IPO forms into SEC's postbox

Mighty mutant flash/disk array startup Nimble Storage has filed a preliminary form with the SEC announcing its intention to proceed with an IPO. The number of shares for sale and the price range haven't been decided yet – it hasn't even picked a date. Nimble was founded in November 2007 by ex-Data Domain staffers, including …
Chris Mellor, 21 Oct 2013
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Apple bats away WiLAN cellular data patents sueball

Intellectual property licensing company WiLAN has lost a patent infringement lawsuit against Apple, despite scoring settlements against companies like Dell and HP. The company was looking for $248m from the fruity firm for wireless tech used in its mobile devices, but a jury decided in just over an hour that Apple's products …