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Symantec selling Veritas to private equity firm – report

Symantec’s soon-to-be-split-off Veritas business is destined for private equity ownership, according to Bloomberg. The buyer is said to be the Carlyle Group and it will pay something between $7bn and $8bn for a business, which has forecast $2.6bn annual revenues. It’s been noted for some time that there is no CEO identified …
Chris Mellor, 9 Jul 2015

HTC in crisis: How did it get to this point? How did it get this bad?

Analysis HTC's financial figures for its second quarter of 2015 look horrific. HTC says it lost 24 cents (or pence) for every dollar (or pound) of revenue it received. After four quarters of slender profits, the business just fell off a cliff. The Taiwanese giant's share price has halved from £146.5 ($224.63) to £68.50 ($105.03). If …
Cuts to orange

Sync 'n' sod it: EMC might be shaping up to sell Syncplicity

EMC is set to sell is Syncplicity file sync'n'share business to a private equity firm, according to a Bloomberg report. Skyview Capital LLC is the aforementioned PE biz, and it says about itself: “We specialise in acquiring and unlocking unrealised potential within market-leading businesses across a variety of sectors.” …
Chris Mellor, 7 Jul 2015
Samsung Galaxy S6

The sad song Samsung's sung: SEVENTH quarterly fail in a row

Samsung has warned the market that it's going to miss its previous earnings guidance for the April-June quarter. It will be the Korean goliath's seventh successive quarter of decline in year-on-year terms. The original guidance of 7.2 trillion won (US$6.38 billion) has been downgraded to a forecast 6.9 terawon ($6.13 billion …
big droplets falling from rain cloud

Outsourcery has ‘greater flexibility to pursue opportunities’ after £4m Voda loan

Loss-making cloud biz Outsourcery has managed to tap up Vodafone for a £4m loan under a partnership deal. After yet another successful effort of going cap in hand to investors, the still unprofitable outfit said £2.3m of the loan will be used for "general working capital purposes". The rest of the cash will replace its existing …
Kat Hall, 3 Jul 2015
Poor people in India queue for a political party-sponsored medical check. Pic: Welfare Party of India

Tech Mahindra posts profit warning: The end for Indian outsourcing?

Indian outsourcer Tech Mahindra, which bought disgraced rival Satyam in 2012, has issued a profit warning — the first sign of trouble in the buoyant market for some time. In a regulatory filing to the Bombay Stock Exchange, it blamed a "seasonally weak" mobility business for dragging down first-quarter revenue, with shares …
Kat Hall, 29 Jun 2015

BlackBerry boss vows to keep making phones

BlackBerry CEO John Chen told shareholders at his company's AGM today that he’ll stay in the handset business as he reckons he has a good chance at making money from it. Chen didn’t say how: whether he’d stick doggedly to BlackBerry’s own BB10, flirt with Android, or bring them both into a hypervisor-enabled cohabitation …
Andrew Orlowski, 23 Jun 2015
RingRing Remember these? What's special about the rear left one?

Give us your software BlackBerry, we love it. The phones? Meh

Rising software revenue helped make up for continuing falls in phone hardware income at BlackBerry in the past quarter, with the waning giant booking revenue of $658m for first quarter of full year 2016, and reported a non-GAAP operating loss of $7m. Forty per cent of all income was phone sales, of around 1.1 million devices. …
Andrew Orlowski, 23 Jun 2015
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Ingram Micro feasts on European old-mobe specialists

First Ingram Micro dug deep to acquire handset seller Brightpoint and now it is buying up companies to deal with the devices in middle age and at the end of their life. The tech wholesaler has subsumed CANAI Group, which specialises in trade-ins, reuse, recycling and global redistribution. High Wycombe-based CANAI runs a …
Paul Kunert, 23 Jun 2015
£10 notes. Pic: Howard Lake

Attenda for sale this year? Not on your nelly, says CEO

App hosting and co-lo slinger Attenda was expected to be put up for sale by owner Darwin Private Equity later this year, but postponed the process, and it’s latest financials perhaps explain why. The venture capitalist backed an MBO of Staines-based Attenda in 2011 for £50m and multiple sources told us in May that it had eyed up …
Paul Kunert, 19 Jun 2015
Stock market. Pic: Alberto Carrasco Casado

Major Colt Group investor bids to take sickly biz private again

Fidelity, the majority shareholder in LSE-listed telecoms biz Colt Group, has bid 190 pence per share to buy the remaining stock and take the ailing firm private. The proposed transaction equates to a 21 per cent premium on yesterday’s closing share price and is 34 per cent up on the rolling average for the past twelve months, …
Paul Kunert, 19 Jun 2015
Scrooge McDuck

Open-source Linux doesn't pay, said no one ever at Red Hat

Red Hat's sales jumped 14 per cent, year-on-year, in the quarter that ended May 31, thanks to contracts with government and cloud providers. The GNU/Linux distro maker recorded US$481m in sales in its first quarter of its fiscal 2016 year, and a net income of US$48m, up 26 per cent on the year-ago period. The 44 cents per share …
Shaun Nichols, 19 Jun 2015
Fitbit

Strapping strap-on chaps strap in to tap that vat of greenbacks

Health-monitoring wearables maker Fitbit has set the price for its initial public offering (IPO) at US$20 per share. Fitbit said that, on Thursday, it will put 36,575,000 shares of class-A stock on the market with that twenty buck starting price. That would add up to approximately US$731.5m (£461m) in total sales, though that …
Shaun Nichols, 18 Jun 2015
Mark Hurd and Safra Catz

'Oracle, why are your sales f-' CLOUD CLOUD CLOUD, blasts Larry

Investors had their knives out for Oracle once again on Wednesday after the database giant's fourth-quarter results missed analysts' estimates on both earnings and revenue. The report capped off a disappointing year for Oracle, one in which its total revenue for the twelve months was flat from the previous year, at $38.23bn. It …
Neil McAllister, 17 Jun 2015
Boy slurps watermelon. Credit: Shutterstock

Six Degrees separates: Sold to Charlesbank Capital Partners

Private equity biz Penta Capital has agreed to sell hosting and managed services outfit Six Degrees to funds affiliated with Charlesbank Capital Partners for an undisclosed sum. The business came onto the market in February with corporate financier DC Advisory managing the sale process, as El Chan exclusively revealed. …
Paul Kunert, 17 Jun 2015
Crypto fingers

Westpac buys stake in Canberra crypto king QuintessenceLabs

Australian banking goliath Westpac will become a substantial stakeholder in Canberra based QuintessenceLabs (QLabs) and use outfit's quantum key distribution technology for its internal infrastructure. QLabs commercialises research from the Australian National University to produce quantum key distribution (QKD) and random key …
Darren Pauli, 16 Jun 2015
slice of pizza

Revenue up 62 per cent, as Redcentric posts bumper post-buy results

Managed services biz Redcentric reported a significant increase in sales and profits for its full-year 2015 results, as the firm's acquisition strategy began to bear fruit. The Yorkshire outfit posted an increase in revenue of 62 per cent to £94.3m, compared with 2014. Profits rose to £8m from £1.8m for the same period. The …
Kat Hall, 15 Jun 2015
empty_box

Not Boxing clever: non-paying customers still hold sway

File sharer Box’s burst into profitability is still being delayed (for quarter after quarter) by its massive, heavy boat anchor of pay-nothing customers. First-quarter revenues rose 45 per cent from a year ago to $65.6m, beating Wall Street estimates, while the net loss deepened 23 per cent from a year ago to $47.3m. Revenue …
Chris Mellor, 12 Jun 2015
£10 notes. Pic: Howard Lake

Crossroads Systems takes wrong turn. Is it running out of cash?

Comment It isn’t pretty watching this. Poor beleaguered archival product vendor Crossroads Systems reported even worse results for its second quarter than its dire first quarter, as well as a diminishing cash balance. Crossroads_Q2cy2015 Crossroads Systems quarterly revenue and net income. Moving average trendlines added. Crossroads …
Chris Mellor, 12 Jun 2015
Amazon CEO Jeff Bezos

EU: Explain your tax affairs. Google, Amazon, Facebook: Mmm... nah

Amazon, Facebook and Google are among those who have been invited to a pow-wow with MEPs over their tax practices – but not all plan to show up. MEPs said on Tuesday that it's regrettable that the multinationals “seem unable to find time to discuss their tax practices in public before the European Parliament’s Tax Rulings …
Jennifer Baker, 10 Jun 2015
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Shouty investor Elliot trains guns on Samsung merger

Activist hedge fund Elliot Associates is to take legal action against Samsung over its merger, widely seen as a move to consolidate the power of the South Korean firm's controlling Lee family. Last month, Sammy announced its merger with fashion, leisure and construction biz Cheil Industries, a company in which the tech giant …
Kat Hall, 9 Jun 2015
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A turnaround plan within a turnaround plan for Phoenix IT Group

Phoenix IT Group execs are labouring under the “assumption” that the firm will not be sold to Daisy Group – they have to – and are hatching a turnaround plan within a turnaround plan for Partner Services. As the board at the LSE-listed tech services outfit is recommending a 160 pence per share offer from Daisy that values the …
Paul Kunert, 9 Jun 2015
Boy slurps watermelon. Credit: Shutterstock

The great silicon slurp of 2015 continues: Atmel next on the shopping block

Another instalment in this year's consolidation in the silicon market appears to be on the cards, with reports emerging that microcontroller outfit Atmel is looking for a buyer. As Reuters reports, the company's CEO, Steve Laub, is due to retire at the end of August, something that may have sparked the decision to seek …

Piston to power Cisco Intercloud

Cisco is either dipping another tentative toe in the open cloud business, or about to Borg a potential competitor, announcing that it wants to buy cloud operating system company Piston Cloud Technologies. Piston's OpenStack expertise will now be wrapped into the warm embrace of Cisco's Cloud Services operation, the group charged …

Wall Street watchdog publishes its ultimate rules on Bitcoin biz

The New York State Department of Financial Services (DFS) — the financial regulator for Wall Street — has released its final regulations for Bitcoins. The BitLicense Framework will regulate the use of digital currency in New York and tries to strike a balance between preventing fraud while staying open to innovation in a rapidly …
£10 notes. Pic: Howard Lake

OMG, our merger is working, LOL – Dixons Carphone CEO

The merger seems to be working out for Dixons Carphone — both sales and profits are up, according to a trading update for Q4 and fiscal 2015. The company said like-for-like group revenue for the 17 weeks ended 2 May was up six per cent; rising 13 per cent in the UK and Ireland; up one per cent in the Nordics; up eight per cent …
Simon Rockman, 3 Jun 2015

Elon Musk's $4.9 BEELLLION taxpayer windfall revealed

Worstall on Wednesday That Elon Musk is a decamillionaire is true. That he's a great salesman is also true. But to whom is he selling, and what is it that he sells so well? There's a very reasonable argument that what he's actually good at is selling to bureaucrats what bureaucrats want to buy with our money. And while that's obviously a useful …
Tim Worstall, 3 Jun 2015
Stock ticker board

Sophos looks to raise £65m with IPO

Security software outfit Sophos is to imminently float on the London Stock Exchange, a move it estimates will raise $100m (£65m), the company announced today. The Oxford-based biz is thought to be targeting a valuation of £1bn, according to The Sunday Times (subscription required). Richard Holway, analyst at TechMarketView …
Kat Hall, 3 Jun 2015
Roughly 150kg of gold

Gold to bind Phoenix IT, Daisy, Cisco

Phoenix IT is likely to rekindle its partnership with Cisco when the Daisy Group completes the acquisition of the services provider, as expected in the not-too-distant future. In late 2013, El Chan revealed Phoenix was among 1,000 companies across EMEA told by Cisco that their right to sell its kit was to be removed because they …
Paul Kunert, 29 May 2015
Graph of US dollar going up CC 2.0 https://www.flickr.com/photos/68751915@N05/ 401kcalculator.org.

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
Stock market. Pic: Alberto Carrasco Casado

Softcat preps for IPO, closes in on brokers

Softcat is preparing the groundwork for its flotation on the London Stock Exchange with the market expected to value the tech reselling juggernaut at cool half a billion pounds. Our sources tell us Marlow-based Softcat has narrowed the field of potential brokers to a handful of firms, but Credit Suisse and Jeffries are most …
Paul Kunert, 29 May 2015
David and Goliath in the Valley of Elah

Mutant upstart Nimble embiggens revenues – and losses, too

Hybrid array storage start-up minnow Nimble Storage saw revenues grow strongly in its latest quarter, though not enough to trouble mainstream storage vendors. Revenues in its first fiscal 2016 quarter, ended April 30, were 53 per cent higher than a year ago at $71.3m, with a net loss of $29m: it was $19.6m a year ago. …
Chris Mellor, 27 May 2015

HP to buy ConteXtream for SDN/NFV top-up

HP is looking to beef up its service provider software-defined networking (SDN) footprint, with the acquisition of Comcast and Verizon-backed ConteXtream. With SDN looking increasingly bedded down in the data centre, the carrier market is becoming the next battleground, with everyone from startups to big names looking for places …
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Finally! It's the year of Linux on the desktop TITSUP

Mandriva, a French purveyor of desktop Linux, is being wound up, after becoming totally incapable of supporting usual performance (TITSUP), financially at least. The liquidation notice suggests the company's revenue in 2013 was around €600,000 and that the biz has between 10 and 19 staff. The company's wobbled for years and has …
Simon Sharwood, 27 May 2015
Monty Python foot UHDTV

Pavegen: The Company that can't make energy out of crowds tries to make money out of them

A company selling floor tiles which extract tiny, pointless amounts of energy from crowds walking across them is seeking fresh investment through the medium of crowdfunding. The company in question is Pavegen, which we've covered before. The firm is the brainchild of Laurence Kemball-Cook, who describes himself in a press …
Lewis Page, 26 May 2015
Roughly 150kg of gold

EMC coughs up the readies for cloud management software supplier

EMC is buying Virtustream in a seemingly billion-dollar-level transaction, as part of an effort to build a managed cloud services business. Virtustream sells xStream cloud management software for public, private and hybrid clouds, Infrastructure-as-a-Service (IaaS) and managed services to its customers. It says its xStream …
Chris Mellor, 26 May 2015
Samsung must have asked the modelling agency to provide a guy with big hands for this shoot

Samsung to create industry giant via mega merger with itself

Sammy has announced a merger with fashion, leisure and construction biz Cheil Industries, a company in which the tech giant already owns a sizable stake, in a move designed to bolster the South Korean conglomerate as power passes from current leader to probable heir apparent Lee Jae-yong. The combined company (one of South Korea …
Kat Hall, 26 May 2015

Told ya! Coms flogs telco arm to Timico in £2.5m deal

Hard-pressed B2B communications provider Coms Plc confirmed this morning it is to offload the telco arm to Timico for an initial cash splurge of £2.5m. As exclusively revealed by us late last month, the London-listed business hired Knight Corporate Finance to manage a fire sale of the division following a failed restructuring …
Paul Kunert, 26 May 2015
Graph of US dollar going up CC 2.0 https://www.flickr.com/photos/68751915@N05/ 401kcalculator.org.

Charter Comms to acquire Time Warner for US$55bn: lotsa reports

Comcast may have given up trying to acquire Time Warner Cable, but junior US telco Charter now looks set to swoop with a deal of its own. Comcast spent the better part of a year trying to spend the better part of US$45bn to acquire Time Warner, but the deal collapsed beneath the weight of regulator discomfort and industry …
Simon Sharwood, 25 May 2015
Alberta_Prairie

Boring old Brocade just sits there making money. Damn them

Brocade's second quarter fiscal 2015 revenue was $547m, up two per cent year-on-year and down five per cent sequentially, as is Brocade's seasonal pattern. Net income was $77m, monstrously better than the $14m loss it announced a year ago. That loss was due, Brocade says, to a non-cash goodwill impairment charge from the …
Chris Mellor, 22 May 2015

Wanna buy a software reseller? Comparex big enough for you?

The Austrian parent of enterprise licensing specialist reseller and tech provider Comparex has hired an investment banker to sell the business, The Channel can reveal. According to multiple sources, Raiffeisen Bank has called on Harris Williams to find a buyer, the formal process has started, and an Information Memorandum is …
Paul Kunert, 22 May 2015
Fluffy grey ragdoll cat relaxes next to laptop.

HP storage revenues declining as the dithering continues

Comment HP storage revenues went backwards in its second fiscal 2015 quarter. The revenue from newer converged storage systems (3PAR, StoreOnce, StoreAll, etc) rose 5.3 per cent over the year to $356m (from $338m), but traditional storage revenues (EVA, MSA, tape) slumped 18.3 per cent to $384m (from $470 million). Overall storage …
Chris Mellor, 22 May 2015