Articles about Shareholders

Hans off! Ericsson unplugs CEO after gräsliga results

Ericsson CEO Hans Vestberg has been unceremoniously dumped after another set of disappointing results. The Swedish telecoms' board unanimously decided to ditch their chief exec after he failed to meet analyst expectations, despite having slashed jobs and done his best to cut costs. He has been at the company for 28 years and …
Kieren McCarthy, 25 Jul 2016

Yahoo! She said yes. Verizon confirms $4.8bn acquisition

Verizon has today confirmed it will splash out $4.83bn (£3.7bn) buying Yahoo, with the deal expected to close in the first financial quarter of next year. The telco was one of 40 suitors rumoured earlier this year to be interested, including Google parent Alphabet, Time and even Daily Mail parent DMG. Yahoo! has been on a …
Kat Hall, 25 Jul 2016
Burning money, photo via Shutterstock

Verizon tipped to buy Yahoo! for US$5bn

Markets are bracing for a Monday puzzle: why on earth does Verizon think it is worth spending US$5bn on Yahoo!? Financial news outlets are alive with people-familiar-with-discussions-fed reports that Verizon and Yahoo! have stopped flirting with anybody else and will soon announce that each has a nice new toothbrush in the …
Simon Sharwood, 25 Jul 2016

Ingram Micro and Tianjin Tianhai: Go on, PROBE us

Ingram Micro and the Chinese logistics giant Tianjin Tianhai that wants to buy it confirmed they are to submit the proposed $6bn bid for review to the Committee of Foreign Investment in the United States. This is an about-turn because Ingram - the world’s largest tech distributor - previously said the deal would not “fall …
Paul Kunert, 22 Jul 2016
Burning money, photo via Shutterstock

AT&T: Money? Oh, sure, no I'm fine – I'm doing great (if you ignore my phone business)

AT&T says wireless revenues are down in what was an otherwise solid quarter for the US telecom giant. Its second quarter of 2016 [PDF] period was, overall, a success thanks to solid returns from the newly-acquired DirecTV. They were, however, tempered by falling revenues in other areas. Quarterly revenues were $40.5bn, up 22 …
Shaun Nichols, 21 Jul 2016
mergers and acquisitions

EMC staffers: We are crashing into Dell within weeks

Staffers at EMC and its subsidiaries are to get Dell email addresses from the start of next month as the proposed mega buy edges closer, insiders have told The Register. EMC shareholders last night approved the $62.4bn bid – somewhat lower than the original $67bn offer due to a slide in VMware’s share price – and Chinese anti- …
Paul Kunert, 20 Jul 2016
Microsoft CEO Satya Nadella

Microsoft Azure doubles up to $800m a quarter – and is wiped out by dying phone sales

Analysis All eyes were on Microsoft's cloud business today as it published its fourth-quarter and full-year financial results. Amid the numbers, Redmond boasted that its Azure revenues from the quarter were up 102 per cent year-on-year – we estimate the cloud service's revenue to be about $800m in total for the period. Meanwhile, …
Iain Thomson, 20 Jul 2016
Raised hands vote

Eat me, Michael: 98% of EMC shareholders back Dell mega-gobble

EMC shareholders have voted overwhelmingly to accept Dell's $60bn plus offer to merge the two companies into a new entity called Dell Technologies. At a special shareholder meeting at EMC's Hopkinton, Massachusetts, headquarters, 98 per cent of those present, representing 78 per cent of the shareholders, voted to approve the …
Iain Thomson, 19 Jul 2016

EMC: Sales flat but wallets fat. Ready to vote on the merger?

EMC-Dell deal EMC saw totally flat revenues in its second quarter but profits rose 19 per cent. It could have been better as late orders couldn't be fulfilled. Revenues were a straight $6bn, unchanged from a year ago but up 9.6 per cent sequentially. They were $5.9bn two years ago so EMC is arguably standing still revenue-wise. Net income …
Chris Mellor, 19 Jul 2016
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Netflix and not chill

Netflix stock is in freefall after the streaming company fell well short of its own quarterly projections. The video service says that it added just 1.7 million new members in the second quarter of 2016 [PDF], down from 3.3 million additions in last year's quarter and far worse than its earlier projection of 2.5 million. …
Shaun Nichols, 19 Jul 2016

Shelfware wars should be conceded, admits Microsoft compliance boss

The UK head of Software Asset Management (SAM) and Compliance at Microsoft, Mark Bradford, admitted at a recent seminar held by one of its enterprise licensing sellers Bytes that Shelfware issues “should be conceded”. Bradford said his group, responsible for working with channel firms to perform reviews of customers, didn’t …
Martin Thompson, 18 Jul 2016
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Softbank promises stronger ARM: Greater overseas reach and double the UK jobs

Brit-tech success poster child ARM holdings is to be acquired by Japanese telecom multinational Softbank. ARM, whose chip designs drive the majority of the world’s smartphones, is under offer for a remarkable £24.3bn - a premium of 43 per cent over current stock price. Softbank, whose last yearly revenue totalled 19.5 …
Gavin Clarke, 18 Jul 2016
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NetApp CEO Kurian: Buying SolidFire was a long-term strategic bet

Interview Chief executives of multi-billion dollar corporations have to have several characteristics, including steel, the ability to see things as they are, and possession of a personal value system that meshes with their corporation’s culture. Some CEOs, when promoted to the top chair after long employment in a corporation, sometimes …
Chris Mellor, 11 Jul 2016

Avast woos AVG shareholders with $1.3bn buyout offer

Avast is offering to buy anti-virus rival AVG for $1.3bn. AVG shareholders are being offered $25.00 per share in cash, a 33 per cent mark-up on the closing share price on Wednesday. AVG, Avast and rival Avira are the three main players in the market for freebie anti-virus scanners for Windows. All make their money by offering …
John Leyden, 07 Jul 2016
Man shouting through a mega phone with abstract communication icons in the background

EMC told Dell deal 'attractive'

EMC shareholders have been advised to vote "FOR" the proposed merger with Dell. Glass Lewis, an independent proxy advisory firm, has told EMC's shareholders that "the proposed transaction is financially and strategically reasonable" and offers "an attractive premium." EMC shareholders are to vote on the Dell merger at a …
Tommy Lee Jones delivers implied facepalm. From No Country for Old Men  Copyright Miramax Pictures. 2007.

Rightside: No domain deal

Domain name system specialist Rightside has turned down a passive-aggressive offer to buy its top-level domains for $70m. The proposed deal "significantly undervalues Rightside's Registry assets," according to its CEO Taryn Naidu. What's more, the proposal was "an opportunistic attempt to acquire Rightside's valuable portfolio …
Kieren McCarthy, 05 Jul 2016
London stock exchange, photo via Shutterstock

London Stock Exchange's German mega-merger: It's a go, despite Brexit

The London Stock Exchange takeover by its German competitor Deutsche Boerse (aka the "Merger of Equals") should still be going forward despite Brexit, but a planned vote by their respective shareholders throws another wildcard into how job cuts are shared between London and Frankfurt. The £12bn deal, announced in March, is due …
Dominic Connor, 04 Jul 2016
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SEC probes ex Google bod

The US Securities and Exchange Commission has launched an enquiry into Nikesh Arora, a former Google executive, focusing on his actions as SoftBank president and COO. The Financial Times has reported (£) that the probe relates to a letter sent by shareholders to the SoftBank board. SoftBank has claimed that the allegations are …
EU egg timer, photo via Shutterstock

Vodafone hints at relocation from UK

Vodafone has hinted it may pack its bags and relocate its London-based headquarters following the momentous decision to leave the EU last week. The biz which was founded in the UK noted that the majority of its profits are derived from outside Blighty. Vodafone's continental business now accounts for 55 per cent of its …
Kat Hall, 29 Jun 2016
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Oracle: Cloud-first for 12.2 update – on-prem world will have to wait

Oracle is cranking up the pressure on customers to consume its wares as-a-service by initially distributing the updated 12.2 database on a cloud-only basis. Talk of the shift - that will prevent the company’s existing installed base of on-premise punters from accessing new multi tenancy functions - was first spotted across the …

From Watson Jr to Watson AI: IBM's changed, and Papa Watson wouldn't approve

Completed in 1983, IBM's prestigious South Bank office in London, on the banks of the River Thames, owes a lot to the Brutalist style of architecture, popular in the 1960s and 1970s. It makes heavy use of concrete: a solid building for a solid company. The IBM logo has been outside that building for more than 30 years, an …
Billy MacInnes, 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
Raining money

Dell close to selling software division for $2bn – reports

Dell is close to agreeing the sale of its software division for more than $2bn as it digs behind the settee cushions to fund its mega-acquisition of EMC. A consortium including Francisco Partners and Elliot Management are “in advanced talks” to acquire the division, Reuters reported today, citing “three people familiar with …

Outsourcery sold after Dragon runs out of puff

Something positive was salvaged from the crash at cloud biz Outsourcery - 100 employees have transferred with the business in a pre-pack sale to new owners GCI Network Solutions. The loss-making company ran into cash flow shortages on multiple occasions, most recently in April when principal secured lender Vodafone stepped in …
Paul Kunert, 17 Jun 2016

Cavium and QLogic sitting in a tree, S I G N I N G

Cavium's hoping to launch a big data centre push on the back of its US$1.3 billion acquisition of server and storage networking outfit QLogic. The cash-and-shares buy will give Cavium a more direct footprint in the data centre, as well as the $350 million-plus on QLogic's balance sheet. Cavium says QLogic's connectivity and …
Xerox split

Xerox lays out BPO breakup plan

Xerox has detailed the plans that will see the legendary compute company split itself into two different branches. The former photocopy king says that it has named Ashok Vemuri as the CEO of what will become the Xerox Business Process Outsourcing (BPO) company. "Ashok's deep industry experience and proven track record of …
Shaun Nichols, 14 Jun 2016
Extended GPIO B+ raspberry pi

Raspberry Pi distributor Premier Farnell in £792m Swiss buyout deal

Premier Farnell, British Raspberry Pi distribution firm, is set to be purchased by Swiss group Dätwyler Holding for £792m. In a letter to investors released today Premier Farnell said an agreement had been made to allow Dätwyler to take over the company, subject to shareholder and regulatory approval. Leeds-based Premier …

Microsoft buys LinkedIn for the price of 36 Instagrams

Microsoft is swooping in to buy CV and soapbox site LinkedIn, in an all-cash deal worth a whopping $26.2bn. The software giant is paying $196 per share for LinkedIn, a $61 premium on the enterprise social platform's closing price on last Friday. Jeff Weiner will remain CEO of LinkedIn, reporting to Microsoft’s CEO Satya …
Katyanna Quach, 13 Jun 2016

Google snubs 'dark money' questions at AGM. Shareholder power? Yeah, right

Alphabet shareholders demanding greater shareholder scrutiny and more transparency over its lobbying network were snubbed by Google executives at its AGM yesterday. To drive the point home, Google amended its incorporation documents so that Alphabet, its sole owner, doesn’t need to convene a vote of Alphabet shareholders for …
Andrew Orlowski, 09 Jun 2016
Raining money

'We accidentally hit wrong button on Dell buyout – here's $194m for the cockup'

Some former Dell shareholders can thank a voting mishap for an upcoming windfall. Investment house T Rowe Price says it will refund its clients $194m in value lost when it mistakenly supported Dell's 2013 private buyout at a deflated price. According to the finance company, a "voting error" led it to sign off on the proposed …
Shaun Nichols, 07 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
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EMC-Dell merge vote date

EMC says that its shareholders will vote on the proposed Dell merger at a July 19 special meeting. The shareholder vote, set to take place at EMC's headquarters in Massachusetts at 10am local time, will decide if EMC takes up the merger with Dell first floated in October of last year. Those who wish to vote on the deal must …
Shaun Nichols, 07 Jun 2016
Larry Ellison and Nikita Khan

That didn't take long: Shareholders sue Oracle in 'fake cloud sales' row

Just days after Oracle was sued by an ex-employee, who accused the IT giant of making up its cloud sales figures, its shareholders are now hauling the company into court. A complaint [PDF] filed on behalf of Oracle stockholders by investor Grover Klarfeld alleges that the database goliath put their investments in the company …
Shaun Nichols, 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
Michael Dell, photo: Dell

Michael Dell bought his PC biz for a bargain, must get checkbook out for stiffed shareholders

A small number of former shareholders in Dell could be getting a sizable payout after a Delaware court ruled the IT biz was undervalued when it went private. Delaware Vice Chancellor Travis Laster ruled that the fair price for the company's shares at the time it went private was $17.62 per share, 22 per cent more than the $13. …
Iain Thomson, 31 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
Photo by Guillaume Paumier

The Schmidt's hit by the fan: Alphabet investor sues Google bigwigs over EU antitrust ruckus

An Alphabet shareholder is suing company executives – including exec chairman Eric Schmidt, CEO Larry Page, and president Sergey Brin – for their roles in Google's EU antitrust case. Robert Jessup has filed suit [PDF] in a California state court against more than three dozen people, including the Google cofounders and long- …
Shaun Nichols, 26 May 2016
HP CEO Meg Whitman

Whitman deletes another chapter in HP history as CSC and ES borg

Hewlett Packard Enterprise CEO Meg Whitman is dismantling another legacy bequeathed to her by a predecessor as she waves goodbye to Enterprise Services. The first lady of Palo Alto has already closed the chapter opened by one-time CEO Carly Fiorina who had signed off the buy of Compaq, only for HP's PC business to be ejected …
Paul Kunert, 26 May 2016
Google UK office logos

French authorities raid Google's Paris HQ over tax allegations

Google's office in central Paris was raided this morning by police, directed by French financial officials, over alleged underpayment of taxes. More than 100 investigators and five magistrates were involved in the raid, which happened shortly after 5am on Tuesday morning, Reuters reported. This has been confirmed to The …
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UK distributor Steljes goes titsup

Specialist audio visual distributor Steljes Ltd has called in the administrators after liquidity dried up in what was its 29th year of commercial life. The company had “suffered from severe cash flow difficulties over the past year”, a rep at insolvency practitioner AlixPartners, which is managing the end of life process, told …
Paul Kunert, 24 May 2016
Yahoo! branded bus

Sky! Blue!, Oceans! Wet!, Yahoo! Overvalued!

Yahoo!'s planned sell-off of its core business may not end up bringing the cash return investors had hoped for. Citing sources familiar with the matter, The Wall Street Journal reports that Jerry and David's Guide to the World Wide Web is receiving bids of around $2-3bn on its core business, significantly less than the $4-8bn …
Shaun Nichols, 20 May 2016
Music listener rasta

Pandora investor: Sell this company sooner rather than later

A major investor in Pandora wants the company to sell out while it can. Hedge fund Corvex Partners has revealed that it owns 10 per cent of the veteran streaming music company – and that selling out to a larger company is preferable to pursuing a "costly and uncertain business plan." In a US Securities and Exchange Commission …
Andrew Orlowski, 18 May 2016
A partially-eaten langos

China says yes to SanDisk

China’s MOFCOM trade regulator has said it’s OK for Western Digital to buy SanDisk. WD wants to buy SanDisk and its flash foundry chips-to-SSDs business for around $16bn. The MOFCOM approval completes the worldwide regulatory body approvals process and the deal is expected to close on May 12. WD and SanDisk shareholders have …
Chris Mellor, 10 May 2016
Toshiba NB500

Tosh names new boss

Toshiba has named a new CEO. Satoshi Tsunakawa will take over from Masashi Muromachi who himself replaced the previous CEO in July last year following an accounting scandal. Tsunakawa is a veteran of the Japanese electronics giant and will take over in June following approval of his position by shareholders. Muromachi will …
Kieren McCarthy, 06 May 2016
Funnel of cash. Credit: via SXC – http://www.sxc.hu/profile/Leonardini

Q. What's orange and white, has a new CEO but is red all over? A. Teradata

+Comment Data warehouse and biz intelligence wrangler Teradata made a loss in its first quarter of 2016. It also recruited a new CEO to get the company motoring again. The new broom is 67 years old, and you don't need big-data analytics to see he won't be around for long. Teradata's revenues for the three months to March 31 were $545m …
Chris Mellor, 05 May 2016
Stock market. Pic: Alberto Carrasco Casado

Midwich IPO will value its AV and print distie biz at £165m

The sleepy East Anglian market town of Diss is perhaps best known as the possible birthplace of former poet laureate John Skelton – but, perhaps, Midwich will finally overshadow the one-time Poet Laureate. Midwich, the region’s finest tech distributor – for AV (audio-visual) and document services to be specific – is to sling …
Paul Kunert, 03 May 2016
Seagate logo

If you work on Seagate's performance drives, time to find another job

+Comment As expected, Seagate's revenues totaled $2.6bn in the three months to April 1, the third quarter [PDF] in its fiscal 2016, down 21 per cent year-on-year. And as anticipated, it made a $21m loss – its first loss in many many quarters and way down from the year-ago's $291m profit. On Friday, as the results for Q3 were published …
Chris Mellor, 30 Apr 2016
Oracle Ellison Sparc T4 launch

Oracle gobbles Textura

Oracle has bought payment company Textura for $663m. Textura is a leading payment management system for the construction industry, and Oracle intends to roll it into its Primavera software suite which has recently been re-architected for the cloud. Textura shareholders will receive $26 in cash per share. Textura processes $3. …
Kieren McCarthy, 29 Apr 2016
Trillian chats to a depressed Marvin the Robot in the 2005 film version of Hitchhiker's Guide to Galaxy. C Walt Disney Pictures

Food for Deep Thought: 42 is IBM's answer to Life, the Universe and Everything...

Analysis Deep Thought calculated the number 42 to be the Answer to the Ultimate Question of Life, the Universe and Everything. Over at IBM it was the frequency the word "transform" was used to explain another dire quarter. The supercomputer in The Hitchhiker's Guide to the Galaxy took 7.5 million years to determine the importance of …
Paul Kunert, 29 Apr 2016