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Articles about Financing

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...

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
Toilet roll printed with fake US $100 bills

Dell all-hands staff letter says EMC takeover funds are in the bag

Dell has written to its global workforce, advising them that its transaction to acquire EMC is on track. In a letter recorded by to the United States Securities and Exchange Commission (SEC), Dell chief integration officer Rory Read says “I want to address some of the chatter over the past few weeks about possible financing …
Simon Sharwood, 17 Feb 2016

Ah, that new 'baby' mainframe smell: IBM shows off z13s

IBM’s new entry-level mainframe, the z13s, makes its debut next month and the company’s press blurb makes for instructive reading, not least because it has very little to say about the actual spec. Instead, there is much enthusiasm about the security features and services assembled for the z Systems server family. The server …
Drew Cullen, 16 Feb 2016
Wall St bull image via Shutterstock

Dell SecureWorks files for IPO

Dell security subsidiary SecureWorks is trying to raise funds for working capital and acquisitions, according to a filing with the SEC. The S1 Form lodged last night indicates the division expects to sell up to $100m in stock but this is a placeholder figure that could change before the flotation. Under the terms of the plan …
Paul Kunert, 18 Dec 2015
£10 notes. Pic: Howard Lake

CityFibre coughs £90m for nearly all of KCOM's UK comms network

Broadband player CityFibre claimed it is shaping up to be a viable “challenger” to BT after coughing £90m for KCOM’s national comms infrastructure – excluding Hull and East Yorkshire. The deal, which includes 1,100 km of duct and fibre network in 24 cities – 21 of which are new to CityFibre – and a long distance network, was …
Paul Kunert, 14 Dec 2015
Orchestration

HP Enterprise: You with the horn, be silent, we are composing infrastructure

HPE Discover Hewlett Packard Enterprise (HPE) has come up with a nifty way for customers to build internal clouds - assuming that those punters don’t want to use a public version of the fluffy white stuff from Amazon Web Services (AWS). Synergy, which HPE’s well oiled marketing engine assures us is an industry first, includes big ‘frames’ …
Paul Kunert, 01 Dec 2015
The road running through the PRATCHETT landing area

Dell-EMC deal difficulties: VMware and daddy postpone roadtrip

The Dell-EMC acquisition was announced on 12 October this year, with Dell buying EMC along with its 80 per cent holding in VMWare. Since the deal was announced, VMWare shares (VMW) have lost considerable value compared to EMC’s shares. Bernstein analyst Toni Sacconaghi thinks the EMC share price fall “can be attributed to the …
Chris Mellor, 25 Nov 2015
HP Logo splitting in two

Sales, share price sink for HP Inc – but it's relative glee for HPE

It was an inauspicious start to life as a standalone entity for HP Inc - the breakaway computer and printing business - as it forecast lower than expected profits, based on depressed market demand. The organisation, which undocked from the HP mothership at the start of this month, as did Hewlett Packard Enterprise (HPE), …
Paul Kunert, 25 Nov 2015
Hillary Clinton

Another $75m for Datto as EMEA and APAC expansion beckons

Technology Crossover Ventures (TCV) has led a $75m B-round for cloud backup and biz continuity service/product supplier Datto, as it looks to expand its presence in the EMEA and APAC regions. Datto provides backup, recovery and business continuity products used by thousands of managed service providers around the planet. It …
Chris Mellor, 20 Nov 2015
Huawei_sign

Huawei who? We probe the sleeping storage dragon's brains

Part I Huawei is China's Cisco or Sweden’s Ericsson without the storage hangups that affect the US networking giant. It's a $46.5bn colossus with 170,000 employees, privately-owned by its Chinese national employees, with no venture capital investment and three rotating CEOs. This is most assuredly not your average IT corporation. …
Chris Mellor, 06 Nov 2015
Rotary phone

Dell-EMC deal could be a game-changer for mobile networks, too

EMC/Dell deal As carriers race towards virtualisation, software-defined networking and increasingly complex back office IT platforms, they will increasingly bump into suppliers from the data centre world. IBM, Hewlett-Packard, Oracle and others are already very familiar to them, but now there will be a new powerhouse, if Dell’s record- …
Wireless Watch, 19 Oct 2015

Dell hooking up with EMC and going public again? Come off it

EMC/Dell deal The rumour mill about a Dell-EMC deal is going hyper, with a $51bn takeover by Dell being mentioned. Is Elliott Management holding a gun to EMC's head? EMC is trying to come up with a shareholder value-unlocking deal under pressure from activist investor Elliott Management, which says EMC investors would be better off if …
Chris Mellor, 09 Oct 2015

SaaS biz 'made up 99% of sales and defrauded investors of millions'

If you bought internet services from Illinois-based ContinuityX Services, the US Securities and Exchange Commission would like a word, since you may be part of a very, very small group – far smaller than the company itself represented. "We allege that Godwin and Roth cheated investors out of millions of dollars, depicting …
Iain Thomson, 30 Sep 2015
trolley_shopping_648

Accenture barges way into cloud market, buys Cloud Sherpas

Bloated integrator-cum-consultancy Accenture has gulped down cloud advisory and tech services outfit Cloud Sherpas for an undisclosed fee, signalling the start of major consolidation in this part of the market. Privately-owned Cloud Sherpas was born in 2007 and has expanded commercially and geographically over the years via …
Paul Kunert, 15 Sep 2015
handshake_648

Civica splashes the cash on 'good fit' Web Technologies

Public sector IT outfit Civica has gobbled up IT services minnow Web Technologies Group for what is thought to be approximately £10m. Simon Downing, chief exec of Civica, said the deal will extend Civica's capability in central government. Meanwhile, James Steventon, chief executive of WTG, said having "the backing of Civica …
Kat Hall, 09 Sep 2015
VR

Hidden password-stealing malware lurking in your GPU card? Intel Security thinks not

Fears that malware is hiding in people's graphics chipsets may be overclocked, according to Intel Security. Earlier this year, researchers from the self-styled “Team JellyFish” released a proof-of-concept software nasty capable of exploiting GPUs to swipe passwords and other information typed in by a PC's user. The same …
John Leyden, 01 Sep 2015
Cook, via Shutterstock

Dell cooks up cloud recipes with Microsoft, VMware and OpenStack

Dell is doubling down on its policy of selling infrastructure, after retreating from its public cloud service provider plan. The firm, which has carved out a big niche in web-scale server centres, will release plans in the next six months to guide others building their own clouds. Blueprints will be for Microsoft’s Cloud …
Gavin Clarke, 25 Jun 2015

Daisy Group offers to gobble Phoenix IT Group for £133m

Acquisitive B2B tech and comms player Daisy Group has bid 160 pence per share for LSE-listed Phoenix IT Group valuing the services operation at around £133m. Talk of a deal has rumbled along for more than a year but with Phoenix in the middle of a three-year turnaround plan under the latest CEO and no longer reporting steep …
Paul Kunert, 21 May 2015

IBM feathers pillow with System z cash – but still losing sleep after 12 quarters of decline

IBM weathered a tough first three months of its fiscal 2015, reporting its twelfth successive quarter of year-on-year revenue declines. As has become a common refrain among tech execs, Big Blue CFO Martin Schroeter blamed some of the company's woes on unfavorable foreign exchange rates. But even correcting for currency …
Neil McAllister, 20 Apr 2015

Midland tech dynasty launches The Bank of Rigby

Nigel Jenkins – a senior veteran of corporate leasing at HP, Cisco and Microsoft – wants to turn the tables on his old employers from his base camp at Rigby Capital, the sister firm of services-based reseller SCC. Jenkins, the GM who joined the business in July having worked at the big three, reviewed the existing process of …
Paul Kunert, 15 Apr 2015
hands waving dollar bills in the air

Managed services biz Claranet adds £107m to war chest

Acquisition-hungry European managed services provider Claranet has drummed up £107m in a refinancing deal. Charles Nasser, Claranet Group founder and CEO, said: “Our financing now extends to 2020 and achieves greater flexibility for us as we plan for further growth and the development of our products and services." He added: " …
Kat Hall, 31 Mar 2015
Columns of coins in the cloud

March deadline nears for FAT, JUICY Euro Commish cloud service contracts

EU cloud service companies have until 5 March this year to bid for lucrative EU Commission contracts. The Commish tender call aims to secure about 2,500 virtual machines and 2,500TB of storage for up to four years. The plan is to enable EU institutions to use cloud-based IT services before the end of 2015. As yet, there is no …
Jennifer Baker, 13 Jan 2015

ANOTHER red-ink-spattered quarter for Overland Storage

Comment Data manager Overland is still making losses (bigger ones more recently) with profitability like a mirage forever receding into the distance, despite having acquired Tandberg Data as a way of cutting its operating expenses and expanding its markets. Revenues for its 2015 first fiscal quarter were $22.9m, double the $10.6m …
Chris Mellor, 14 Nov 2014
Killer whale

Bitcasa bins $10-a-month Infinite storage offer

Comment One of the oddest cloud storage offers ever has just been binned as Bitcasa bumps into reality. When sprats are competing with killer whales what do you expect? Back in 2011, startup Bitcasa offered Infinite storage for consumers in Bitcasa’s remote data centre, aka the cloud, for $10/month. The business case for this appeared …
Chris Mellor, 24 Oct 2014

Hey small biz: You know what you need? A tape library – Overland

Overland has got itself a new NEO tape library (cue jokes about the Matrix Reloaded) called the NEOxl, and it's packed a huge amount of capacity inside it. The two models in the product line both support LTO5 and LTO6 tape formats and come in 6U enclosures: NEOxl 60 To 3 drives and 60 slots 90TB-375TB capacity (90TB is …
Chris Mellor, 17 Oct 2014
Fraud image

Dragons' Den man and co-CEO to work for FREE at loss-making Outsourcery

Outsourcery bosses Piers Linney and Simon Newton are relinquishing their salaries for the next 12 months in a bid to save the loss-making cloudy biz £500,000, the company told the stock market today. The desperate duo’s act is part of measures to find £4.5m in funds to keep the wolves from the door in the medium term, a move …
Paul Kunert, 14 Aug 2014
Symform Android App

Recovering Quantum buys Dropbox-alike cloudy biz Symform

Quantum has bought cloudy firm Symform, a file sync 'n' share company where the users themselves are the cloud. Instead of being stored in a data centre in the public of Symform’s own cloud, users’ data is stored as redundant and protected blocks distributed across the Symform customers’ own storage devices. The users' own …
Chris Mellor, 08 Aug 2014
management strategy2

Insight grabs EMEA sales and marketing veep

Insight has plucked a former Microsoft licensing honcho to run its sales and marketing function across EMEA, at a time when it is looking to move well beyond straight software transactions. Alexander Kaatz is joining the reseller titan to fill the shoes vacated by Ashley Gatehouse, who departed last autumn along with a bunch of …
Paul Kunert, 04 Aug 2014

HP Simplivity buyout rumours: Could it be worth HALF a BILLION?

HP is said to be in talks to buy Simplivity, a startup whose main offering is the Omnicube converged server/storage/networking systems. The Omnicube is a so-called hyper-converged system, designed from the ground up to eliminate the data centre chaos of independent server, storage and networking products that have to be …
Chris Mellor, 10 Jun 2014
Kim Stevenson

Intel CIO jumps onto Cloudera's board, scattering cash

Intel chief information officer Kim Stevenson has joined the Board of Directors of Hadoop company Cloudera, bringing with her vast amounts of money. The Hadoop company announced the appointment on Monday, noting that Intel recently gave it an eye-watering $740m in funding as part of a $900m financing round that was announced in …
Jack Clark, 02 Jun 2014
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? …
Tim Worstall, 09 Apr 2014
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

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

Opinion “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
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 …
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

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
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

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
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

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 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

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
michael_dell

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

Analysis 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, …
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

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 …

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 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 …
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
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
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 …

Opinion

Walking on water, image via Shutterstock

Chris Mellor

IDC stats reveal who's who in the backup appliance bearpit
Carry on Cleo

Gavin Clarke

Infamy, infamy, Amazon and Microsoft have all got it in for me!

Tim Anderson

Also signals stronger cross-platform tools, access to new markets

Features

Shouting match
Single market vs. rest of the world
hacker
Mostly it's financial crime. Here's what all the cool kids' terms mean in English
Apple logo. Pic: Blake Patterson
Plenty of bumps in the 40-year road for Mac makers
single pain of glass