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Articles about Financing


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 …

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

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

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 …

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
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
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
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
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

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

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

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

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
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. …
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

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, …
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

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
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

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 …
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

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
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

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

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
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
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 …
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

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
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
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

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
For Sale sign detail launches software financing market

Comment 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
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
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 …
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
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
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

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 …

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 …

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
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 …

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
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 …
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

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 …

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
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 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 …


George Osborne, photo: HM Treasury
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Chris Mellor

The SAN growth glory days are well and truly over, so where next?

Tom Whipp

Insurance industry insider tells all
Crypto fingers


Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire
The Seeing Eye by Valerie Everett, Flickr, CC2.0
Follow the money – or, at least, our projections
Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.