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Articles about Financing

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IBM does financing deals for Power, storage kit

It's a new year and a new first quarter and a new and somewhat challenging economy in North America, and therefore IBM is offering financing deals in the United States and Canada. Last week, Big Blue rolled out a zero per cent financing program called Fast Start Financing that, as the name suggests and as the company has done …
cloud

Dell borgs CIT financing partnerships in Canada, Europe

Being an IT giant, as Dell wants to be, means controlling your own leasing and financing arm. And so Dell is taking control of the financing arms that it ran in conjunction with CIT Group in Canada, and of Dell-related assets for CIT Group's operations in Europe. CIT Group's Vendor Finance operation is one of the big names in IT …
IBM CEO Ginni Rometty

IBM's top brass forgo bonuses after drop in yearly profits

IBM's top execs are forgoing their bonuses this year after a five per cent drop in sales and a per cent dip in net profit. Chief executive Ginni Rometty and other senior management will graciously eschew their presumably performance-related bonuses since the company's performance has not been all that great, particularly in its …
Hadoop Elephant

Don't touch my trunk! Intel is $740m lighter after Cloudera cash shot

Intel has shoveled $740m into Hadoop company Cloudera, giving the chipmaker an 18 per cent stake in the data analysis firm. The mammoth funding was announced on Monday following the news last week of a major strategic partnership between the x86 goliath and the software upstart, which itself followed a separate funding round of …
Jack Clark, 31 Mar 2014
hands waving dollar bills in the air

HP bids to boost sales with 0% financing (again)

More than IBM or Oracle, IT supplier Hewlett-Packard is dependent on volume sales to make its top and bottom lines. And with the economy improving but still not in great shape, HP has reanimated some zero per cent financing deals from early last year in the hopes of helping it get a solid start to 2010 in North America. …
Zombie cloud

Reselling mutant cloud parts from IBM? There's now an app for that

IBM is pitching new software and server gear for use in public, private and public-private hybrid cloud computing environments. The tech titan has announced PureSystem updates plus stuff about Power, System x and technical computing. Big Blue thinks mutant clouds will pick up in popularity; it quotes Gartner as saying that " …
Chris Mellor, 14 Oct 2013
cloud

Dell settles with 34 US states over consumer financing claims

Dell will cough up $3.35m in a 34-state settlement agreement following allegations that the computer vendor hoodwinked consumers on financing, warranties and rebates. According to Reuters, Dell was accused of engaging in “deceptive” promotions by promising zero per cent financing but then charging higher rates, said the US …
Kelly Fiveash, 13 Jan 2009
Stock ticker board

No, we're not in an IT 'stockapoclyse' – boom (and bust) is exactly what tech world needs

Is this the stockapoclyse, as tech shares crater into the ground and no more money gets invested into the sector? Or is that 20 per cent fall in the largest internet-based companies – Netflix, Flicker and Twitter – that $275bn drop in collective value over the last month, just an overdue correction to recent price run ups? Well …
Tim Worstall, 09 Apr 2014
channel

NEC punts 0% financing, deferred payments

Following in the footsteps of the indigenous server makers in the United States, Japanese box peddler NEC has launched zero per cent financing and deferred payment offers for buyers in North America willing to do a deal now, rather than waiting until the economy improves. By offering low-cost or deferred payment financing, …
Dell logo in crosshairs

Wannabe Dell owner Icahn's buyout blueprint blasted by board bods

Dell's special task force - set up to oversee the sale of the tech titan to private hands - has claimed wannabe owner Carl Icahn still hasn't shown them the colour of his money. The team said there had been "no financing nor any commitment" from the activist shareholder and his pals to buy the PC and server giant outright. This …
Paul Kunert, 20 Jun 2013
channel

HP gives SMBs zero per cent financing

Server, PC and ink maker Hewlett-Packard gets a lot of business from small and medium businesses, and these companies are struggling a bit in the Western economies right now. So HP's Financial Services arm has rolled out a tried and true - but dangerously addictive - tactic to move gear: zero per cent financing. HP Financing …

Show us the money: Big Mike told to up his game if he wants Dell

Big Mike has been advised to up his offer for Dell after activist investor Carl Icahn finally managed to scrape together the cash to back his refinancing proposal. The eponymous chief was sitting pretty a short time ago when it was rumoured that Icahn was having trouble raising the $5.2bn in funding needed to revamp the firm and …

Dell feels cold probe of US Dept of Justice amid Syria PC sales claims

US authorities are investigating claims of embargo-busting sales of Dell computers to the Syrian government. It is understood officials at the US Department of Justice (DoJ) are looking into allegations that the equipment was resold into the blood-stained nation despite strict trade sanctions. The probe was revealed this week …
Gavin Clarke, 10 Dec 2013
Suitcase bulging with cash

Big Blue hands bulging $4bn suitcase to partners to grease IT sales

In the hope of pumping up sales of hardware, software, and services over the next 12 months, IBM is taking $4bn of its own cash and giving it to its Global Financing arm to originate leases over the next year. Big Blue is hoping to clear the way for enterprises of all sizes to get financing, when the banks might be a little …
fingers pointing at man

Dell zeroes in on US customers with 0% financing

Dell is offering its US corporate customers zero per cent financing to encourage them to buy more products in what has been a tumultuous year for the computer giant. The company is blaming the recessive economy for the decision, but it told The Register that – for now at least – there’s no plan to extend the financing deal to …
Kelly Fiveash, 26 Nov 2008

Nixed Nirvanix files for Chapter 11

Cloud storage startup Nirvanix that imploded last month, has formally admitted business defeat by filing for Chapter 11 bankruptcy. It announced the fact on its website on October 1, saying: On October 1, 2013, Nirvanix voluntarily sought Chapter 11 bankruptcy protection in order to pursue all alternatives to maximize value for …
Chris Mellor, 02 Oct 2013
BlackBerry bleeding

Happiness-challenged BlackBerry dumps CEO, gives up on sale

Thorsten Heins' brief reign at the top of BlackBerry (BB) all but ended today as the company formerly known as RIM dumped its chief exec and took down the "For Sale" sign outside its HQ. Heins was plonked into the hot seat in January 2011 replacing joint bosses Jim Balsillie and Mike Lazaridis as sales slumped, but he was unable …
Paul Kunert, 04 Nov 2013
Dell logo in crosshairs

Icahn scratching head over BEEELLLIONS needed for Dell deal

Carl Icahn could be ready to walk away from the Dell rescue deal after reports suggested he's finding stumping up the cash for the refinancing plan a little more difficult than he'd hoped. Sources told CNBC and the New York Post that Icahn is having second thoughts about the billions needed to finance the offer for Dell put …

BlackBerry inks deal to go private for $4.7bn

BlackBerry – or, as the struggling Canadian smartphone manufacturer has been renamed by the chattering classes, "Beleaguered BlackBerry" – has signed a letter of intent to be taken private by a consortium led by Fairfax Financial Holdings of Toronto, Ontario. Fairfax currently owns about 10 per cent of BlackBerry, and the …
Rik Myslewski, 23 Sep 2013
Dell logo in crosshairs

Icahn lines up prodigious Dell deal dough

Carl Icahn, the activist investor* who has been providing the only alternative to Michael Dell's plan to take the IT company that bears his name private, has finally lined up the financing that he says will be necessary to acquire Dell at a higher price than Dell, the man, is offering. In a letter to Dell shareholders and the …
Frodo and the Ring

IBM trudges onward despite hardware weight around its neck

IBM reported fourth-quarter earnings that were a mixed bag on Tuesday, with hardware remaining the chief thorn in Big Blue's side – as has been the case throughout its fiscal 2013. Total revenues shrank for both the quarter and the year, with Q4 sales down 5.5 per cent to $27.7bn and annual sales down 4.6 per cent to $99.8bn. …
Neil McAllister, 22 Jan 2014
hands waving dollar bills in the air

Overland gets fresh financing

Overland Storage, which was in danger of running out of cash by the end of the month, has agreed a $9m accounts receivable financing deal. Overland supplies NEO and ARCvault tape libraries, REO disk backup and virtual tape libraries, and ULTAMUS protected drive arrays. It is recovering after drastic mis-steps by previous …
Chris Mellor, 27 Nov 2008

Big Blue misses Q1 targets big-time thanks to systems shortfall

Big Blue did not turn in the numbers that it expected in the first quarter thanks to more than $400m in mainframe systems, related software, and intellectual property licensing deals that rolled over into the second quarter. In the quarter ended in March, revenues were off 5.1 per cent, to $23.41bn, and net income fell by 1.1 …

China, an untapped land of opportunity for the West - EXCEPT IBM

IBM's third-quarter earnings for 2013 missed estimates by a billion dollars, thanks to an ugly environment in China and continuing weakness in the company's hardware division. The technology giant reported a net income of $4bn from revenues of $23.7bn on Wednesday, representing a rise in profits by 5.7 percent on the same …
Jack Clark, 16 Oct 2013
Dell chairman and CEO, Michael Dell

More naysayers pour cold water on Dell LBO

Dell, the company, might want to be more like IBM, but this leveraged buyout takeover bid that Michael Dell and Silver Lake Partners have put together is starting to smell more like the Hewlett-Packard acquisition of beleaguered Compaq more than a decade ago. Southeastern Asset Management, which owns an 8.4 per cent stake in …

SanDisk buys dose of the SMARTs for $307m

SSD supply consolidation is starting to speed up, with SanDisk buying SMART Storage Systems for $307m, representing a nice exit for investment fund Silver Lake, and following on from last week's acquisition of sTec by WD for $340m. Fresh from investing in flash-based cloud gateway startup Panzura, SanDisk is ramping up its …
Chris Mellor, 03 Jul 2013
Dell logo in crosshairs

Icahn doubles down on Dell offer with $14 per share buyback scheme

With exactly a month to go before the special meeting of Dell shareholders that could decide the company's fate, investor Carl Icahn has increased the pressure for a better deal for shareholders – chiefly himself. In an open letter to Dell shareholders, Icahn said that he has now purchased 72 million shares of Dell stock from …
Iain Thomson, 19 Jun 2013

Dutch tech services outfit Imtech takes €100m write-down

IT technical and managed services provider Imtech is warning of a financial writedown of at least €100m due to "possible irregularities" at its Polish sub. The Netherlands-based group, which also has electrical and mechanical service units in addition to its ICT arm, said it had "ordered a forensic investigation" of the …
Paul Kunert, 04 Feb 2013
Dell chairman and CEO, Michael Dell

Dell warns stockholders that Icahn's plan would 'hamstring' company

The battle for control of Dell between the company's eponymous founder and investor Carl Icahn is in its endgame, with both sides making last-ditch attempts to win over stockholders for Thursday's vote on Michael Dell's plans to take the firm private again. That's if the vote happens, of course. Several media outlets have …
Iain Thomson, 17 Jul 2013
channel

IBM defers New Coke financing

Launching a new server platform of any kind in this economic environment is never an attractive option - unless it costs a lot less money than the alternatives. With mainframes, just being a lot cheaper than last year's model is progress, and with the System z10 Business Class entry mainframes announced this week, IBM has cut …
For Sale sign detail

Smartfundit.com launches software financing market

Traditionally organisations have "bought" the software they use, although the range of licensing options available can be enough to confuse anyone. However, on both sides of the IT world (vendor and customer), surprisingly little attention has been given to acquiring the right to use software on a "subscription" basis rather …
Tony Lock, 30 Jan 2006
graph up

IBM loans SMBs $1bn to buy stuff

Big Blue wants to make more sales in the small and medium business space, and it is shelling out $1bn over the next 18 months to make it happen. IBM is as much a bank as it is a maker of hardware and software and a peddler of services. Big Blue can borrow money at rates that few companies and no consumers can thanks to its …
Dell chairman and CEO, Michael Dell

Michael Dell to buy himself on Monday?

Michael Dell may not cash out and do a leveraged buyout of the company that bears his name, but instead put his own money where his mouth has been and buy majority control the eponymous pride of Round Rock, Texas. And, according to the latest reports, he could finalize the deal to take Dell private as soon as Monday. Saying "To …

One year on: What exactly did the 2e2 collapse teach us?

“Sam, I need you in the Heathrow office early tomorrow morning,” read the panicked text from my line manager on a Sunday night. The UK subs of 2e2 Group entered administration a year ago. I had a unique vantage point from where I sat within the crumbling company through the brutal process of administration and seeing the …
Sam Simpson, 20 Feb 2014

Cloud storage biz, one careful owner, six years on the clock... any takers?

Cloud storage startup Nirvanix has imploded, with Brit-based partner Aorta Cloud reacting fast in prepping a takeover to continue services for Nirvanix's customers. All parties are hoping that this doesn't give customers the dreaded "cloud fear" and that Amazon, Google and Microsoft don't become the sole holy trinity of cloud …
Chris Mellor, 19 Sep 2013

NEC looks to offload Lenovo shares

Ailing Japanese electronics giant NEC looks set to sell all of its shares in Lenovo after the Chinese PC maker confirmed to The Reg that it has waived a previous restriction on the sale. The two firms announced in January 2011 that they would be combining their PC operations in Japan, in a joint venture known as NEC Lenovo Japan …
Phil Muncaster, 05 Sep 2012
budgets_and_people

Kelway Holdings sales shoot up despite recession

Kelway Holdings sales shot up in fiscal year ended 31 March - no mean feat in he dire economy - but the acquisition of ISC caused costs to swell and working capital ratios were hit. The parent of acquisitive London-based Kelway UK grew turnover 34 per cent to £350.7m including a full year's worth of trade from ISC Networks, …
Paul Kunert, 11 Sep 2012

Titsup 2e2's data centre dustup gave UK users the CLOUD FEAR

When 2e2 Group suddenly collapsed earlier this year, owing over £400m to trade creditors and stranding a rake of customers from NHS trusts to the Bank of England, a gigantic question mark instantly formed over the cloud. Many customers already had concerns about keeping control of their assets in the cloud. 2e2's rapid collapse …
Steve Bell, 26 Apr 2013
arrow pointing up

Banks bung hard-up Acer £315m loan

Troubled Acer has penned a new financing deal to cover working capital requirements and pay off a previous loan it took out to acquire Gateway. The firm has gone through a major reshuffle of management following a loss-making year in which sluggish consumer demand caught it by surprise and resulted in an inventory pile-up. The …
Paul Kunert, 17 Nov 2011
Dell chairman and CEO, Michael Dell

Microsoft to pump cash into Dell buyout deal?

The word on the street is that Michael Dell and his rich friends are having an easy time finding the many billions of dollars needed to do a leveraged buyout of the PC and server maker and take it private, especially now that Microsoft has entered the picture with as much as $3bn to invest in the deal. According to a report ( …
Dell logo in crosshairs

Dell buy: Icahn puts more cash on table than Blackstone or Mike D

As El Reg expected, the deals offered separately by private equity firms Blackstone Group and Icahn Enterprises to take over IT giant Dell are not as generous as some have been arguing the company is worth. And, ironically, the company backed by activist investor Carl Icahn is offering considerably less than Icahn himself had …
michael_dell

Dell, the man, prevails in quest to wrest Dell, the company, from Wall Street

So that's done, then. Shareholders of IT giant Dell have approved a $24.9bn private takeover bid put together by company founder Michael Dell, Silver Lake Partners, and borrowed dough from Microsoft and a slew of banks. Now Wall Street will be off Dell's back as it tries to reorganize itself for the future of computing, …
channel

China's new year's resolution: Build a flash fab

China has no hard disk drive, DRAM and flash memory production facilities of its own – but that could change. The Asian nation digs up the rare earths used to make components in the world's HDDs, and firms including Huawei and UIT make servers and storage arrays that use disk drives, DRAM and flash memory. However China has no …
Chris Mellor, 03 Jan 2012

UK taxmen turn heat on tax-swerving big biz, hope to smoke out £1bn

HM Revenue and Customs (HMRC) has increased its focus on international businesses it suspects of using profit shifting techniques to avoid taxes in the UK, according to figures obtained by Pinsent Masons, the law firm behind Out-Law.com. A freedom of information (FOI) request made by the firm showed that the department's large …
OUT-LAW.COM, 22 Jan 2013
HP CEO Meg Whitman at Discover 2012

HP: Hey, it could easily have been so much worse

If you were expecting HP to bring good news to the IT industry when it reported its financial results for the fiscal second quarter, you are no doubt sorely disappointed. Well, unless you consider that in terms of profit declines it could have been a lot worse. In the quarter ended April 30, HP was down on all fronts, and CEO …

Rug tugged from under 2e2 after it racked up £50m loss - report

Brit IT biz 2e2 went under because its financial reports were flawed, it plunged nearly £50m into the red and its backers refused to throw good money after bad. That's according to a two-inch-thick dossier by the company's administrators FTI Consulting. The report documents the days leading up to the Berkshire-based integrator's …
Paul Kunert, 25 Mar 2013

Ingram's Monie on money: Murky outlook for IT world ahead

Ingram Micro - the world's largest technology distributor - doesn't expect the global economy or the IT industry to pick up anytime soon. Last night the firm posted calendar Q3 numbers with a driving currency headwind almost wiping out sales growth not helped by the economy in Europe either. Turnover climbed 1 per cent year-on- …
Paul Kunert, 26 Oct 2012
Dell logo in crosshairs

Icahn, SAM to give MickeyD the boot if they take over Dell

Michael Dell wants to take his company the company that bears his name private, but he might be polishing up his resume instead in a few months. Activist investor Carl Icahn and Southeastern Asset Management made it clear last Friday that they were not happy with the proposed $24.4bn takeover of Dell by the company's founder, …
5_pounds_sterling_money_cash_moolah

Dixons keeps wolves from the revolving credit facility door

Dixons Retail has inked a £300m revolving credit facility with its financial backers that should ease the cash flow of Blighty's largest retailer. The deal extends Dixons current facility, which was due to mature next year, until the end of June 2015. Sources say this will provide short term guarantees that should keep the …
Paul Kunert, 25 May 2012

Dell slurps BYOD protector firm

Dell is buying BYOD and end-point data protection specialist Credant Technologies for an undisclosed sum, but we make a stab at calculating it below. Privately held Credant was founded in 2001 in Addison, near Dallas, Texas - not too far away from Dell near Austin, and has offices elsewhere in the USA, the UK, and Sydney, …
Chris Mellor, 20 Dec 2012

Opinion

Chris Mellor

Drives nails forged with Red Hat iron into VCE's coffin
Sleep Cycle iOS app screenshot

Trevor Pott

Forget big-spending globo biz: it's about the consumer... and he's desperate for a nap
Steve Bennet, ex-Symantec CEO

Chris Mellor

Enormo security firm needs to get serious about acquisitions

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