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Gary Winnick, the founder and chairman of Global Crossing, the telecommunications company that became a symbol of late 1990s corporate excess, will not face a civil insider trading charges from the Securities and Exchange Commission (SEC) Winnick's attorney Gary Naftalis issued a statement saying that the SEC "has determined that no charges should ...
Reversing a stance its board of directors held fast for 18 months, PeopleSoft today agreed to be acquired by Oracle for US$10.3 billion, clearing the way for a merger that sparked one of the longest and most bitter business battles in the history of the tech industry The merger promises to dramatically alter the enterprise software market....
The number of mobile phone subscribers worldwide has doubled since 2000 to nearly 1.5 billion, with cell phone adoption growing faster than land line telephone service and Internet usage, according to a new report from the United Nations The International Telecommunication Union (ITU), a wing of the UN, also said in its annual report that 2004 will...
With the impact of the last major merger still rippling through the wireless communications industry, another major combination might be in the works, with No. 3 Sprint and fifth-place Nextel said to be contemplating a combination The merger would create a larger and more robust No. 3 wireless giant that analysts say would be better equipped to com...
In what might be an overseas preview of a battle coming soon to U.S. soil with market leader Netflix, Amazon.com has launched a DVD rental service through its United Kingdom Web site Amazon's UK site began advertising the DVD rental option this week, as the site sees heavy holiday traffic. The service will offer customers up to four rentals per mon...
Chipmaker Infineon Technologies said it would invest US$1 billion to build a new fabrication plant in Malaysia that will make products aimed at the automotive and industrial industries The German-based company said it would break ground early next year on the facility in Kulim High Tech Park and begin production sometime in 2006. The plant will emp...
Ending nearly a week of speculation, IBM has reached an agreement to sell its personal computer business to Chinese PC maker Lenovo for US$1.25 billion in cash, a deal that calls for Big Blue to retain a sizeable stake in the business and for an IBM executive to take over the combined company The deal has massive ramifications for the computer indu...
The health care industry might be next in line for the type of mega-merger that has already rocked the retail and wireless communications sectors, with Johnson & Johnson reportedly mulling a takeover of Guidant in a deal that could be worth more than US$24 billion Published reports said that J&J has been in detailed talks to buy Guidant, which make...
The health care industry might be next in line for the type of mega-merger that has already rocked the retail and wireless communications sectors, with Johnson & Johnson reportedly mulling a takeover of Guidant in a deal that could be worth more than US$24 billion Published reports said that J&J has been in detailed talks to buy Guidant, which make...
The health care industry might be next in line for the type of mega-merger that has already rocked the retail and wireless communications sectors, with Johnson & Johnson reportedly mulling a takeover of Guidant in a deal that could be worth more than US$24 billion Published reports said that J&J has been in detailed talks to buy Guidant, which make...
Leading computer maker Dell said it cut prices on a slew of technology items, from personal computers to servers, a move seen as a competitive thrust aimed at solidifying its growing presence in the enterprise Round Rock, Texas-based Dell said it was simply passing along savings it was seeing in computer components to its corporate customers. The p...
Facing customer unease as another product support lifecycle approaches expiration, Microsoft today said it would extend the timeframe during which it makes custom, paid support available for the server version of Windows NT The move, just the latest in a number of tweaks the software giant has made to its product lifecycle roadmap in response to cu...
With the tech industry still buzzing over its apparent decision to sell its PC business, IBM underscored its ongoing transformation by announcing today that it had landed a contract worth nearly US$1 billion to supply Internet-based telephone and data services to British banking giant Lloyds The seven-year deal carries a price tag of around $969 mi...
In a move that could end an era by eliminating a pioneer from the personal computer industry, IBM has reportedly put its PC business up for sale and might already have at least one prospective buyer for the unit, which analysts say could fetch as much as US$2 billion Big Blue has refused to comment in detail but also has not disputed published repo...
Microsoft and Sun Microsystems say that eight months into their 10-year cooperative alliance, dividends are already being paid in the form of increased interoperability of their products The companies, which reached a groundbreaking deal in March that settled years-old lawsuits and brought the two bitter enemies together, said they are actively wor...
Worldwide mobile phone sales surged in the third quarter and some vendors took more advantage of the uptick than others, with Nokia solidifying its hold on first place and onetime market leader Motorola slumping from second to third place as Samsung became No. 2 According to a report from Gartner, worldwide sales grew 26 percent in the third quarte...
Bidding to solidify and expand its new role as market leader in the wake of its merger with AT&T Wireless, Cingular Wireless has announced plans to roll out faster wireless service and more broadband-dependent services nationwide Cingular said its completion of the US$41 billion merger with AT&T Wireless gives it the spectrum space it needs to fost...
Microsoft will not produce a fifth service pack for Windows 2000, opting instead to provide a less extensive "rollup" of patches as the software giant phases out support for the aging operating system Microsoft had previously announced it would end free technical support for Windows 2000 in June of 2005, a plan that calls for it to stop issuing rou...
Sybase said today that it has struck a deal with IBM in which Big Blue will market and distribute Sybase's Linux database management software IBM will market the Adaptive Server Enterprise (ASE) solution from Sybase for use on its eServer OpenPower platform. The customized version of the software is slated to be available pre-loaded onto IBM server...
A closely watched trial that could have lasting implications for the peer-to-peer (P2P) industry has gotten underway in Australia, where the entertainment industry hopes to prove that P2P network operators are responsible for the illegal swapping they enable Major music labels made similar attempts in the U.S., but had their efforts stymied when an...
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