Articles about 9m

Iomart snaps up SystemsUp for a cool £9m

Glasgow-based cloud outfit Iomart has snapped up London-based IT consultancy biz SystemsUp for a cool £9m. SystemsUp is a G-Cloud partner to Google, Amazon Web Services and Microsoft. Its turnover in the twelve months to 31 March 2015 was £4m, with profit before tax of £1.5m. A further payment of between £1m-£3.5m will be made …
Kat Hall, 08 Jun 2015

Shutterbug drone biz fined $1.9m for buzzing New York City, Chicago

The US Federal Aviation Administration (FAA) has slapped a record fine on a photography company accused of conducting more than five dozen unauthorized drone flights. The FAA said it wants to dock SkyPan International $1.9m for flying drones over the skies of New York City and Chicago without permission. The fine will be the …
Shaun Nichols, 07 Oct 2015

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

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 …

Red Hat raises guidance after good Q2

Red Hat rode on the back of rising cloud subscriptons to turn in a good Q2. Revenues for the quarter ended 31 August, 2015 were up 13 per cent year to $504m ($445,9m) – and 21 per cent on a current currency basis. Net income was $51.8m ($6.8m) The open source vendor reports an annualised run-rate of $100m for its certified …
Drew Cullen, 22 Sep 2015

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

Imation ejects its removable disk biz, hands it to Sphere 3D

With an echo back to its prior Overland Storage data protection days, Sphere 3D has bought Imation’s RDX removable disk storage business. RDX is a removable disk (well, duh – Ed.) cartridge with up to 2TB capacity intended for use as a tape replacement in off-system/off-site backup. The drives fit into QuikStor and QuikStation …
Chris Mellor, 14 Aug 2015
Dell Venue 8 7840 front and rear

IT touts cough up $6m for flogging 'overpriced' PCs to US nuke boffins

The US Department of Justice (DoJ) will extract $5.9m from an American tech reseller accused of overcharging Uncle Sam's scientists. The DoJ said Technology Integration Group (TIG), aka PC Specialists Inc, snapped up Dell PCs, and then resold them at a much-inflated price to the US government's Sandia National Laboratory in …
Shaun Nichols, 12 Aug 2015

SaaS biz 'made up 99% of sales and defrauded investors of millions'

If you bought internet services from Illinois-based ContinuityX Services, the US Securities and Exchange Commission would like a word, since you may be part of a very, very small group – far smaller than the company itself represented. "We allege that Godwin and Roth cheated investors out of millions of dollars, depicting …
Iain Thomson, 30 Sep 2015
£10 notes. Pic: Howard Lake

Phoenix IT Group comes back in black as new owners beckon

Phoenix IT Group is back in the black following the first full year of CEO Steve Vaughan’s turnaround strategy, in what is likely to its last fiscal before the Daisy Group acquisition is sealed. The LSE-listed organisation is still struggling to get the top line moving in the right direction, as revenue fell nine per cent year- …
Paul Kunert, 08 Jun 2015

Red-stained Opera wants someone to hug it and whisper: 'No more pain, no more tears'

Opera Software has announced a 45 per cent revenue boost for its second quarter of financial year 2015 while hinting at a possible buyout, but didn't draw much attention to its $3m losses. Chairman Sverre Munck said on Wednesday that “the board has seen an interest in different alliances and cooperations with Opera over the …
Jennifer Baker, 12 Aug 2015

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

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 …

Quantum sells so much product that its earnings might shrink

Quantum says it will make lower revenues than expected this quarter because it sold too many products and its supply chain couldn't keep up. How does that work? The data centre equipment firm thought its revenues for its second fiscal 2016 quarter, which finished on September 30, were going to be between $120m and $130m. Now …
Chris Mellor, 08 Oct 2015

Lenovo topples Apple from PC summit by declining less slowly

In what could be seen by some as a slightly hollow victory, Lenovo knocked Apple off the top spot in the global PC race by declining more slowly than its rival. Canalys stats show the total market dropped 11.8 per cent year-on-year in Q2 to a little over 109m desktops, notebooks and tabs. For the record, this equates to 1.46m …
Paul Kunert, 06 Aug 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

Palantir raises $450m in latest fund-raising round

CIA-backed Palantir has raised $450m (£289m) from investors, valuing the biz at $20bn (£13bn). Palantir's software is most famous for reportedly helping the US government track down Osama bin Laden, although this is something it has refused to confirm. It was also backed in its early stages by the the CIA's In-Q-Tel venture …
Kat Hall, 24 Jul 2015
Malaysia Airlines Boeing 777 9M-MRO

Hate noisy jets above you? What if they were charging your phone?

A researcher with Boeing has floated a plan to convert the noise from departing planes into a power source. A US patent application filing by Chin H Toh of the Boeing Company published earlier this week describes a method for using the energy from acoustic waves made by jet engines to power a turbine and generate electricity …
Shaun Nichols, 18 Sep 2015
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

Quantum's StorNext isn't storing up revenues fast enough

Quantum swung into loss-making territory with its latest quarterly results as reduced revenues couldn't cover existing costs. The StorNext ejector seat, as tape revenues crash and burn, maybe didn't operate fast enough. As its forewarning indicated, revenues in the quarter ending 30 June were down 13 per cent to $110.9m, from …
Chris Mellor, 03 Aug 2015

Barracuda misses Q2 results target

Cloud security and storage supplier Barracuda recorded growing revenues in its latest quarter, but fell short of expectations and made a loss because of poor sales in Europe and large deal push-outs. However, it announced it was buying a managed service provider software company to grow its market. Revenues for the second …
Chris Mellor, 01 Oct 2015
Toilet roll printed with fake US $100 bills

Beyond the Grave: US Navy pays peanuts for Windows XP support

Microsoft canned support for Windows XP and Office and Exchange 2003 in April 2014 - unless you are the U.S. Navy, which is paying $9.1m a year until 2017 to obtain security patches for these obsoleted products. The Navy contract also includes support for Server 2003, which is unplugged from life support on July 2015. Our hats …
Drew Cullen, 25 Jun 2015

Salesforce back in the red, reviews future black ink orders

After a brief interlude in the black, Salesforce is back in more familiar loss-making territory, according to the financials for its second financial quarter this year. The giant CRM provider posted total revenue of $1.63bn (£1bn) for the period, an increase of 24 per cent year-on-year. Operating profit remained above water …
Kat Hall, 21 Aug 2015

Silicon-happy ARM engorges its profits by a third – so its shares dip

ARM posted bumper sales and profits for its second quarter results – yet shares at the Cambridge-based outfit were still dragged down by Apple's "disappointing" results. Revenues at the mobile processor design biz rose 22 per cent to £228.5m for its second quarter, while pre-tax profits increased 32 per cent to £123.9m, …
Kat Hall, 22 Jul 2015
Graph of US dollar going up CC 2.0

Surging dollar value brightens Tech Data’s European revenues

The unfavourable forex rate leaving US vendors with a damp patch on their financial results in Europe ironically might have helped Tech Data in its opening quarter of fiscal 2016. The world’s second largest tech distie reported sales of $5.8bn for Q1 ended 30 April, down 12 per cent year-on-year, but better than Wall Street …
Paul Kunert, 29 May 2015

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

Claranet swallows a couple of tech minnows

Euro managed services outfit Claranet has used some of its£100m + war chest to dip into the Brit tech market, devouring minnows Linux IT and and Biz Continuity/ DR specialist Techgate. The London headquartered firm that has tentacles in Germany, France, the Netherlands, Portugal and Spain, renegotiated its finances with …
Paul Kunert, 09 Jul 2015

IT Lab slips a ring on JMC IT

London-based managed service provider IT Lab has spread its tentacles to the north-west by subsuming Manchester outfit JMC IT. The combined organisation will employ some 300 staff servicing 750 clients including Somerset House, Talis Capital, the Greater Manchester Chamber of Commerce and Liverpool FC. Peter Sweetbaum, CEO of …
Paul Kunert, 27 May 2015 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 …
British Transport Police cop. Pic: Gordon Joly

Plods waste millions keeping their arses covered and ears open

The UK police are wasting millions on radios and other items such as belts thanks to wildly varying procurement spends between the 43 forces, an analysis by The Register has revealed. According to figures published by the Home Office, the 43 forces spent a total of £17.7m on hand-held and vehicle radios over the last three …
Kat Hall, 11 Sep 2015
Marc Benioff of Salesforce. Pic: Techcrunch

Benioff's Bulging Benefits: Salesforce CEO handed massive pay cheque's chief executive has been handed a massive $39.9m (£25.7m) pay packet, despite objections from a number of major shareholders related to its modest record of profitability. Shareholders narrowly approved the package for Benioff and the six other directors, totalling $81.6m (£53m) in 2015. Dutch pension company …
Kat Hall, 11 Jun 2015
Yelp search

Yelp whelps yelp 'Help!' Chairman ejects, shares plunge 30%, losses grow

Yelp is in full crisis mode as the upstart's chairman is out – and its stock continues to free fall. The reviews website, headquartered in San Francisco's startup land, announced on Wednesday that a modest $2.7m profit in the second quarter of 2014 had turned into a loss of $1.3m in the second quarter of 2015. This is despite …
Shaun Nichols, 29 Jul 2015

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
4 arrows signs in arrow on wooden wall

Sales up, profit up, but no champagne corks popping at Rackspace

The gods of tech sales finally smiled on Rackspace in calendar Q2 of 2015. But the biz isn't celebrating just yet, because it's public cloud arm is stuck in first gear. The cloud server-hosting biz reported an 11 per cent year-on-year growth in turnover to $489.4m (£314.2m) in the three months ended 30 June. Total costs and …
Paul Kunert, 11 Aug 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 …
Lester Haines, 21 Apr 2015
The Shining - blood cascade

Reg reader? Work at the Home Office? Are you SURE?

The number of Home Office IT staff has been slashed by one third, following the latest round of redundancies at the department, The Register can reveal. Currently the department has an 800-strong IT team, following its recent laying off of 107 staff. However, multiple sources have confirmed this is just the latest in a round …
Kat Hall, 20 Jul 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

Big operating expenses rise clobbers Dot Hill's otherwise healthy profits

Storage biz Dot Hill is back and boasting a third quarter of double-digit revenue growth – but also reports anorexic profits caused by some whopping admin expenses. Its second 2015 quarter showed revenues of $61.5m, 28 per cent up on the year-ago’s $48.2m and marginally more than the previous quarter’s $61.1m. Dot Hill …
Chris Mellor, 10 Aug 2015

Assange™ celebrates third year in Ecuadorian embassy broom closet

It's now been three years since Julian Assange slipped into the Ecuadorian embassy claiming political asylum, and now the president of the Ecuador has said he's welcome to stay for the rest of his life if need be. Ecuador's president Rafael Correa said Assange hadn't overstayed his welcome, but that the situation could easily be …
Iain Thomson, 20 Jun 2015

Visa mobilises its money out of mobile money firm Monitise

Once a stock market darling, mobile money expert Monitise is to lose Visa Europe as a major shareholder. The finance multinational has announced that it will “reduce its shareholding over time”. Visa Europe has steadily bought into Monitise, spending £2.1m in August 2012 when shares were around 30p, £15.6m in August 2013 when …
Simon Rockman, 08 Jul 2015
server room

Snap out of the snapshot habit, says mutant upstart Reduxio

Surprise! Freshly uncloaked hybrid flash/disk array startup Reduxio says backup snapshots are a problem and its BackDating technology solves that problem. Admit it; you are surprised, aren't you? Reduxio is an Israeli startup, in the sense that its research and development is based there, although it is headquartered in …
Chris Mellor, 01 Sep 2015
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
Lenticular Cloud

Cloud casts deep shadows over disk backup market

Abacus-wielder IDC has run its eye over the “purpose-built backup appliance” (PBBA) market and proved, if it were necessary to do so again, that by golly things are changing quickly in the storage caper. EMC dominates the market for such PBBAs, taking in US$469.9m in 2015's second quarter to claim 60.1 per cent of the market …
Simon Sharwood, 18 Sep 2015