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Insight scoops up Software Spectrum for $287m

Insight Enterprises, the very big US reseller, is to buy its smaller rival Software Spectrum for $287m. The surprise here is just how long the owner, web backbone provider Level 3, held on to its subsidiary. In 2002, Level 3 bought Software Spectrum and Corporate Software, one of the first big resellers, and merged them into …
Drew Cullen, 21 Jul 2006
The Register breaking news

Level 3 buys Software Spectrum

Level 3, a very big co-lo business, is to buy Software Spectrum, a very big software reseller for $37 per share in cash. Post-transaction, Level 3 will combine Software Spectrum with Corporate Software, the venerable $1bn t/o sofware reseller which Level 3 bought in March for $89m cash and $50m in assumed debt. That purchase …
Drew Cullen, 03 May 2002
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Storage software following hardware downwards

According to market intelligence firm IDC, you're not buying as much storage software as you did last year. Their report shows a 5.2 per cent decline in the first quarter of this year compared to a year ago. IDC's Worldwide Quarterly Storage Software Tracker reports revenues of $2.8bn in the quarter, half that of the quarter's …
Chris Mellor, 09 Jun 2009
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Insight Enterprises EMEA president Fenton quits

Insight Enterprises EMEA president Stuart Fenton has resigned after more than a decade at the helm but is remaining on board until the end of the year to help recruit his successor. Fenton joined the reseller giant as UK boss in October 2002 - three years after it acquired Choice Peripherals to set up a Euro beachhead and some …
Paul Kunert, 24 Apr 2013
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Insight sales veep Akkerman resigns

Insight Enterprises veep of sales Olaf Akkerman has resigned less than a year after moving into the role. Sources close to the firm reckon he was pushed after a tough second calendar quarter, but this has been categorically denied by the reseller. "I can confirm with sincere regret that Olaf is leaving Insight," said Stuart …
Paul Kunert, 20 Jul 2011
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Former Insight veep Akkerman rocks up at Rackspace

Former Insight veep of sales Olaf Akkerman is expected to join Rackspace as enterprise sales director, according to sources close to the matter. He resigned from the reseller last month after less than a year in the role – though he had been at Insight since September 2006 when it acquired Software Spectrum. Sources have now …
Paul Kunert, 22 Aug 2011
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Insight profit down nearly half in Q3

US reseller Insight Enterprises said yesterday that profit dropped by 46 per cent in the third quarter. The giant computer distie saw earnings fall to $9.1m, or 18 cents per share, from $17.2m, or 35 cents per share in the same period a year ago. Revenue was up 29 per cent to $1.11bn for the three months ended 30 September 2007 …
Kelly Fiveash, 02 Nov 2007
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Huge write-off takes Insight Enterprises into loss

A strong performance from EMEA and APAC helped Insight Enterprises to raise sales nine per cent to $1.4bn in Q2. But the US reseller giant declared a massive loss for the three months ended June 30, by writing off all the goodwill on its North America books. That amounts to a non-cash goodwill impairment charge of $313.9m, $201. …
Team Register, 12 Aug 2008
The Register breaking news

S&P slams Level 3 acquisition plans

ComputerWire: IT Industry Intelligence Level 3 Communications Inc's ambitions to lead the consolidation among global carriers were dealt a blow yesterday when ratings agency Standard & Poor's cut its credit rating and poured scorn on its acquisitive ambitions. With a debt burden that led to interest payments of $646m in its …
ComputerWire, 08 Aug 2002
The Register breaking news

Computacenter duo clean up again

Computacenter's super-rich founders Philip Hulme and Peter Ogden are to make a second fortune this week, through the flotation on AIM of their investment banking software business Dealogic. The IPO could see the pair net up to £45m each - on paper for now, as they have no intention of selling stock just yet. Hulme and Ogden set …
Drew Cullen, 16 Apr 2004
The Register breaking news

Buffet and friends sub Level 3 $500m for acquisitions

ComputerWire: IT Industry Intelligence Level 3 Communications Inc sees itself as the company best placed to carry out a wide-ranging consolidation among global carriers after raising $500m in bonds from a group of corporate investors including Berkshire Hathaway, which is chaired by Warren Buffet. This gives the Broomfield, …
ComputerWire, 09 Jul 2002