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Onyx to erect 'for sale' sign outside corp HQ, say sources

Data centre and hosting slinger Onyx will erect a "for sale" sign outside its Stockton-on-Tees HQ in 2016, and the expectation from multiple sources is this will happen sooner rather than later. The private equity-backed business is working with adviser Deloitte to run the sale but as yet no Information Memorandum has been …
Paul Kunert, 19 Jan 2016
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Clinton Group to Violin: What do we want? Sale. When do we want it? Allegro

+Comment Back in July last year activist investor the Clinton Group expressed its feelings about Violin Memory, saying: "If the Company's sales execution does not materially improve and our voice continues to remain unheard, we will have to seriously consider seeking the election of replacements to the Company's Board of Directors at the …
Chris Mellor, 11 Jan 2016
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It's MY ball! Stone Computers' pre-pack sale placed on ice

Exclusive The pre-pack sale of Stone Computers has been adjourned due to an alleged discrepancy over shareholder voting rights to appoint an administrator, The Channel can exclusively reveal. Directors at the Staffordshire-based PC builder called in administrator Duff & Phelps last month, after defaulting on loan note repayments to the …
Paul Kunert, 23 Sep 2015

Symantec palms Veritas off on private equity group in $8bn mega-sale

As suspected, Symantec has offloaded its Veritas storage business to the Carlyle Group for $8bn - way off the $13.5bn paid for the company in 2004. The Carlyle Group has contributions towards the purchase from GIC, Singapore’s sovereign wealth fund, and other expected co-investors. Symantec expects to receive approximately $6. …
Chris Mellor, 11 Aug 2015
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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
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Serco CEO Soames brags about £250m sale of BPO private sector biz

Scandal-hit Serco has finally resold its private-sector business process outsourcing (BPO) division to the previous private equity owner Blackstone for £250m, equating to a loss of £165m. The division consists of middle and back-office skills across customer contact, transaction and financial processing, as well as related …
Paul Kunert, 16 Sep 2015
Lenovo

US regulators OK sale of IBM's x86 server biz to Lenovo

US regulators have given the thumbs-up to IBM's sale of its x86-based System x server business to China's Lenovo, Big Blue announced on Friday. "The approval of the $2.3 billion sale to Lenovo enables IBM to focus on system and software innovations that bring new kinds of value to IBM clients in areas such as cognitive …
Neil McAllister, 16 Aug 2014

SanDisk 'explores' sale, WD and Micron prick up ears - report

SanDisk has hired a bank to explore selling itself, according to reports citing confidential sources. Western Digital (WD) and Micron are said to be interested, Bloomberg has claimed. SanDisk was rumoured to be an acquisition target last month, with WD in the frame. With Dell bidding US$67.1 billion for EMC, perhaps the tech …
Chris Mellor, 14 Oct 2015
No Sale

PwC: Forget margin, tech biz, HUSTLE for that SALE

The phrase "turnover is vanity, profit is sanity" apparently does not apply to the tech sector, with PwC advising companies this year to focus on revenue growth above margins and "yield maximum shareholder value". According to the report 2015 Technology Industry Trends this is particularly important in a "volatile market", which …
Kat Hall, 27 Jan 2015
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Symantec’s dismal results show need for Veritas sale

Symantec’s latest results, published on the day of the Veritas sell-off announcement, show a 14 per cent revenue decline and 49 per cent profit fall on the annual compare. Revenues of $1.5bn produced profits of $117m, compared with $1.74bn and $236m respectively a year ago. On the sequential compare, the previous quarter’s …
Chris Mellor, 12 Aug 2015
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EMC has nothing to say on VMware sale plan

EMC has reportedly refused to say whether or not it intends to sell a stake in VMware, after being reported as entertaining just such a sale. Confused? Here's how this is playing out. Back in July, activist investor Elliot Management picked up a stake in EMC. Someone then whispered in The Wall Street Journal's ear that Elliot …
Simon Sharwood, 12 Sep 2014
No Sale

NO SALE: IBM won't cash in its chips with GlobalFoundries after all

IBM's hopes of unloading its loss-making semiconductor division to GlobalFoundries have reportedly been dashed, with GlobalFoundries refusing to budge on price. Word that Big Blue was planning to sell off its chips business first surfaced in February, when the company retained investment bankers Goldman Sachs to help it put a …
Neil McAllister, 25 Jul 2014

Google vs. AWS race to the bottom detours into Super SSD Spring Sale

Over the last year or so, Google, Amazon Web Services (AWS) and Microsoft's Azure have delighted in pointing out that they do just what the other guy does, only cheaper. So even while IOPs, CPU speeds, volume sizes and other metrics have gone up, the big cloud players have made a point of also taking their prices down. Until, …
Simon Sharwood, 22 Apr 2015
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New licence and SAP unit sale knackers Software AG's numbers

Delayed IT projects and offloading the SAP business have dealt Software AG’s business a double blow for its latest quarter. Germany’s other major software maker today reported a second-quarter revenue drop of 18 per cent to €196m ($263.9m) and net income halved to €14.2m ($19.1m). Earnings per share was also almost halved to €0 …
Gavin Clarke, 24 Jul 2014
Hadoop

Hortonworks shares plunge 22% after secondary IPO news

In Brief The shares of the Hadoop open-source software distributor Hortonworks have plunged 22 per cent following the company's announcement that it had filed for a secondary IPO. Hortonworks is seeking to raise a proposed maximum $100m through the sale of common stock shares, according to a filing with the Securities and Exchange …
No Sale

NO SALE! Rackspace snubs all buyout offers, appoints new CEO

Rackspace says it has given up on plans to either sell itself or merge with another company, and to prove it the cloud hosting provider has named a new CEO to lead its next phase of independent operation. Rackspace had been considering "inbound strategic proposals" – meaning buyout offers – since May, when it brought in …
Neil McAllister, 17 Sep 2014

Rumor mill in overdrive as Dell pumps up Perot price, Atos offers $4.3bn

The sale of Dell's hospital IT consulting arm, Perot Systems, has hit a frenzy of speculation, with Atos reportedly leading the pack of companies with a $4.3bn offer. Dell let companies know it wanted to auction off Perot late last year and put out a $5bn price tag. Since then a series of media leaks have pitched companies …
Kieren McCarthy, 05 Jan 2016
Engineers making quantum devices at the Australian National Fabrication Facility at UNSW: Credit: Australian National Fabrication Facility

IBM to shutter Greenock x86 line after sale to Lenovo - reports

Mystery still surrounds one of the UK's last server production outposts in the Silicon Glen amid reports of IBM shuttering the Greenock site when Lenovo acquires its x86 division. According to local newspaper Greenock Telegraph, workers at the plant are bracing themselves for closure with manufacturing set to move to China once …
Paul Kunert, 03 Mar 2014
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Samsung BlackBerry gobble DENIED: We're not for sale to Sammy – execs

Samsung was today rumored to be eyeing up acquiring BlackBerry for $7.5bn – until the Canadian biz point-blank shot down the anonymous claims within hours later. Reuters cited unnamed well-placed sources in announcing the South Korean giant was in talks with BlackBerry so it could snap up the troubled phone maker's patent …
Shaun Nichols, 15 Jan 2015

UK biz Six Degrees puts up 'For Sale' sign outside corporate HQ

A sales process is under way at mid-market managed voice and data hosting biz Six Degrees, with a corporate financier appointed to sniff out interested buyers. Private equity backer Penta Capital is eyeing up the exit route four years after stumping up £60m to back the former management team at SpiriTel to execute a buy-and- …
Paul Kunert, 05 Feb 2015
A boat full of Fail

'Dropbox passwords' for sale are all EXPIRED: Bitcoin buyers beware

Yet another fraudster is struggling to relieve suckers of their Bitcoin after publicly posting what's purported to be a cache of no less than 7 meellion Dropbox login credentials. A guest poster on Pastebin posted three documents, all claiming to be a subset of "the massive hack of 7,000,000 accounts". The posts said there are " …
Darren Pauli, 14 Oct 2014

Citrix buys System Center control freak, sells CloudPlatform

Citrix has offloaded its CloudPlatform products to Accelerite, bought Comtrade's System Center Operations Manager management packs and tweaked some of its software. The sale first: Accelerite is a subsidiary of India's Persistent Systems, a software-developer-for-hire that created Accelerite to sell products instead of …
Simon Sharwood, 12 Jan 2016

Shouty investor Elliott makes PUBLIC CALL for VMware sale

Comment Activist investor Elliott Management, the holder of a billion dollars' worth of Hopkinton shares, has publicly called for a VMware sale in a letter to EMC's CEO and board. Its release has been nicely timed to closely follow on from HP's decision to split itself into an printer and PC company on the one hand (HP Inc) and a …
Chris Mellor, 08 Oct 2014
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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

Computacenter CEO: Currency headwind? Yep, that hurt alright

For a business, not losing sales ground in these uncertain economic times might be considered something of an achievement in itself. If so, Computacenter bosses will be downing celebratory doubles this morn. In the half year to 30 June, the services-based reseller reported sales of £1.44bn – flat compared with a year ago, but …
Paul Kunert, 28 Aug 2015
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

For-sale sign erected outside UK reseller titan Kelway's HQ

Venture capitalists and prospective trade buyers will get the chance to take a look under the hood of London-based mega reseller Kelway this week – when investment bankers metaphorically drive the biz onto the forecourt. US finance house William Blair is in charge of selling off Kelway. Our sources close to the company expect a …
Paul Kunert, 14 May 2014
Doomsday clock

Federation fracture: EMC's post-Tucci future is either SALE or SPLIT

Comment Winter has come early for EMC, with hordes of barbarian activist investors pounding at the gates as CEO Joe Tucci's long reign comes to an end. Snowdrifts are building up against the boardroom's windows, blotting out the C-suite's previous sunny vista. One immediate example of EMC's fortunes changing is the reported collapse of …
Chris Mellor, 25 Sep 2014

Trustmarque: 2014 was a helluva year – for all the wrong reasons

Trustmarque swung to a loss in a challenging 2014 caused by a write-down of acquired Opin Systems, the correction of overstated profits in the prior year and commercial uncertainty leading up to its sale to Liberata. The licensing specialist turned over £135.4m in the twelve months, £99m of which was based on Microsoft …
Paul Kunert, 02 Oct 2015
Red pen

Ex-state attorney general probes Tech Data CEO's sale of $2m shares

A firm of legal eagles is investigating whether distie giant Tech Data violated state or federal laws by making accounting errors that will wipe millions off its bottom line from recent years. Kahn Swick & Foti (KSF) is also probing CEO Bob Dutkvsky's offloading of $2m in his firm's shares earlier this month The US logistics …
Paul Kunert, 22 Mar 2013
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ANS Group consumes specialist network minnow Eison

Manchester-based converged infrastructure and managed service merchant ANS Group has hoovered up network infrastructure minnow Eison. “This acquisition will further underpin our Hybrid Cloud and data centre strategy,” said Scott Fletcher, ANS chairman and founder. He said the buy paves the way for “intelligent” WAN and …
Paul Kunert, 12 Jan 2016

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

Quantum lays off fifty – prepping for a sale?

Fifty people have been let go by Quantum with some insiders thinking the company is being groomed for a sale, either in whole or in parts. Affected company staff were given the news on Thursday, April 11th. Christine Bachmayer, Quantum's senior manager for marketing in EMEA, said: As we begin our new fiscal year (started April …
Chris Mellor, 15 Apr 2013
Boarders take over a ship

Imation now fully under activist investor's control

Imation's progress towards its uncertain future of big changes has taken another step forward, as an activist investor took the board chair after getting the CEO ejected from his directorship. The Clinton Group – disgusted with Imation's downward revenue spiral and deepening losses – instituted a proxy war, which saw CEO and …
Chris Mellor, 21 Aug 2015
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KCOM: We're selling our national network assets...

Tech-integrator-cum-comms-provider KCOM Group has slapped a for sale sign on its national network infrastructure (except in Hull and East Yorkhire) as management continues to reshape the organisation. KCOM has, like the rest of the tech world, placed its bets on the cloud, and is making less money from the traditional carrier …
Paul Kunert, 30 Nov 2015
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Six Degrees grabs £12m pot of cash from private equity overlord

The private equity backer that coughed for hosting and managed services outfit Six Degrees has stumped up £12m to fund organic expansion in 2016. The cash injection comes half a year after Charlesbank Capital Partners beat off competition from other finance houses to buy Six Degrees - the sale process started in February and …
Paul Kunert, 05 Jan 2016

Dixons Carphone still has 7.5k Windows XP EPOS systems

Dixons Carphone is still using thousands of EPOS tills running on Windows XP more than a year after Microsoft’s extended support expired, The Register has learned. This is not the Embedded flavour of the OS (though even these would present a heightened risk of attack, say security experts) but 7,000-plus bog standard XP …
Paul Kunert, 18 Aug 2015

Administrator tries to squeeze blood out of Stone Computers' parent

Exclusive Senior execs at financially strapped Stone Computers Ltd (SCL) have bid £28.43m to buy the business in a pre-packaged sale after placing the parent company Stone Bidco into administration. But under pre-pack regs, administrator Duff & Phelps has to allow 45-days for someone else to make a rival offer and Stone founder and …
Paul Kunert, 28 Aug 2015
Elgato Thunderbolt SSD

Elgato's Thunderbolt SSD goes on sale

TV tuner specialist Elgato's surprise foray into storage goes on sale this week. Elgato Thunderbolt SSD Its solid-state drive is packed into a case the same size as an average portable hard drive. But instead of a USB 2.0 port, there's a Thunderbolt connector. That makes it available for use with modern Macs - and any …
Caleb Cox, 08 Mar 2012

Government Gateway online hack claims 'nonsense', say multiple folk in the know

Claims the Government Gateway online identity portal has been "hacked" have been dismissed as "nonsense" by the man originally responsible for the project and by two government information security experts. Earlier this week the Financial Times (behind paywall) reported that “tens of thousands” of Britons’ identities were …
Kat Hall, 29 Oct 2015

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, 09 Jul 2015
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NetNames hires turnaround king Steve Vaughan

Self-anointed turnaround expert Steve Vaughan has parachuted into NetNames as non-exec chairman, presumably to improve things at the loss-making domain name registration firm. Vaughan has a track record of saving ailing companies, and managed to improve the fortunes of Phoenix IT Group, stemming the losses and preparing it for …
Paul Kunert, 15 Jan 2016
Michael Dell, photo: Dell

Dell to offload Perot Systems for $5bn: report

For sale, Perot Systems, just two careful owners - a bargain at $5bn. All reasonable offers accepted. Dell nearly sold its IT services business Perot Systems to Tata Consultancy Services but talks collapsed over the price. The company quietly put Perot on the block for more than $5bn three months ago and has hawked the firm to …
Drew Cullen, 14 Dec 2015

K3 Business Technology Group no longer for sale

K3 Business Technology Group says it has sniffed the offers on the table from prospective buyers and didn't like the smell. The mid-market ERP firm, which has retail software, manufacturing software and managed services units, went public in March that it was reviewing offers from numerous suitors. But more than six months …
Paul Kunert, 18 Sep 2012
Microsoft CEO Satya Nadella

Microsoft's 'CEO of no' on Xbox: NO SALE

Microsoft’s new chief executive has told us what he’s not going to do - sell Bing or Xbox - but not what is he going to do. So far, all we’re hearing is a lot of "no". Speaking at a technology event in California, Nadella has been reported and quoted on Twitter to have ruled out the sale of both Xbox and Bing. On Xbox, Nadella …
Gavin Clarke, 28 May 2014
Violins

Oh Jeez, not now! Activist investor threatens Violin Memory

Violin Memory’s board is under attack from the Clinton Group, an activist investor wanting to have talks about “a number of topics germane to creating shareholder value”, meaning an asset or company sale. Apparently it’s been a shareholder for almost two years and has been pushing for talks for some time. Violin’s board has …
Chris Mellor, 31 Jul 2015
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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

Apple's $17bn bond sale not such a good deal for investors

Investors in Apple's record $17bn bond offering who didn't hedge their bets have seen millions in value wiped off their investment. Apple 30-year Corporate Bond Price Apple 30-year Corporate Bond Price. Credit: Business Insider/Steven Perlberg, data from Bloomberg The fruity firm sold off the huge amount of debt back in April …
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Clock's ticking: Euro Commission considers Dell-EMC megacorp

EMC/Dell deal Competition authorities at the European Commission will either rubber-stamp Dell’s proposed $67bn slurp of EMC by the end of next month or launch a full-blown probe. The largest buy in tech history is expected to close between May and October, according to the companies - but this is assuming anti-trust regulators approve it …
Paul Kunert, 26 Jan 2016

Gobblefest on horizon for managed services pair

The sales process for a couple of native data centre providers is gaining some momentum, with Six Degrees edging closer to a deal and Adapt appointing a corporate financier to market the business. London-based Six Degrees called on DCC Advisory in February to sell the voice and data hosting firm by April, as we exclusively …
Paul Kunert, 15 May 2015

Opinion

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Chris Mellor

A VC with startup agenda slams established suppliers. Surprised? Neither were we
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Kat Hall

Cornwall's win over BT should be a cautionary relationship tale

Features

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The Azure Portal: Microsoft is betting on cloud for its future business
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Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire