All the week’s IT market news.
Ex-Worldcom boss Ebbers to stay in prison, 03/05/07
The U.S. Supreme Court says Bernard Ebbers, former CEO at WorldCom, will remain in prison to serve out his 25-year sentence.
Oracle will buy Hyperion for $3.3 billion, 03/01/07
Oracle has agreed to acquire business intelligence software vendor Hyperion Solutions for $3.3 billion in cash, it said Thursday.
Cisco buys another social-networking firm
Cisco is continuing to buy its way into social networking, acquiring some assets of the company that operates Tribe.net while letting the site remain independent.
Nortel restates financials yet again, 03/01/07
Nortel this week said it will engage in another round of financial restatements and delay the filing of its 2006 annual report due to actuarial errors in pension and post-retirement plans.
RIM to restate results, get new chairman, 03/05/07
Research In Motion will search for a new chairman of its board after CEO Jim Balsillie stepped down from the job Monday, taking blame for his role in a stock-option scam that will cost the company $250 million in restated earnings.
Lenovo recalls 205,000 notebook batteries, 03/01/07
Months after joining other PC vendors in a massive recall of faulty notebook batteries, Lenovo Group has found a different problem with some models, and will recall 205,000 notebook batteries worldwide, the company said Thursday.
ProfitLine raises additional $7 million, 02/26/07
Telecom expense management vendor ProfitLine announced that it received $7 million in series C funding last week.
HP to buy storage software vendor PolyServe, 02/26/07
HP is acquiring a storage software company that the company says will give it important leverage in the enterprise-class network-attached storage (NAS) market.
Dell beats earnings mark despite sinking profits, 03/01/07
Still gasping from the resignation of its chief executive in January and an ongoing investigation of its accounting practices, Dell reported fourth quarter profits of $673 million, down sharply from the $1 billion it reported for the same period last year.
Microsoft, EU interoperability fight intensifies, 03/01/07
No one used the ‘L’ word, but both sides in the Microsoft antitrust battle in Europe accused each other of lying about basic facts surrounding the latest twist in the long-running saga that emerged Thursday.
