Latest financial news.
Symantec hit with $1 billion tax bill, 04/18/06
The U.S. Internal Revenue Service has hit Symantec with a $1 billion tax bill for allegedly under-reporting the value of intellectual property that the software vendor transferred to two Irish subsidiaries.
Amdocs buys content billing company Qpass, 04/18/06
Amdocs, a maker of billing software for telecoms and other service providers, will buy Qpass for $275 million, the companies announced Tuesday.
Burst.com sues Apple for patent infringement, 04/18/06
Apple is facing a lawsuit over technology within its popular iPod digital music player and two related applications.
Lenovo, Microsoft to sign intellectual property pact, 04/17/06
As part of Microsoft’s continued efforts to promote its anti-piracy campaign in China, Microsoft and Lenovo Group executives formally plan to sign a $1.2 billion deal Monday to cement a joint effort by the companies to provide genuine Windows …
UTStarcom COO resigns, 04/14/06
UTStarcom Thursday said its COO has resigned and will leave the company in early May.
Earthlink closes its acquisition of New Edge Networks, 04/14/06
Earthlink Thursday finalized its deal to buy New Edge Networks for $144 million.
India’s Infosys passes $2 billion in revenue, 04/14/06
Riding an overall boom in offshore outsourcing to India, the country’s second largest software and services outsourcer Infosys Technologies Friday announced that its revenue had crossed $2 billion for its fiscal year ended March 31.
AMD seeks Microsoft documents in Intel case, 04/14/06
Advanced Micro Devices (AMD) took another step forward in its anti-trust suit against Intel on Thursday by filing a subpoena in U.S. District Court in Delaware for documents held by Microsoft.
CA ups stake in mainframe management with Cybermation acquisition, 04/13/06
CA Thursday announced plans to put down $75 million to acquire Cybermation, a maker of enterprise workload automation software that CA says will broaden its products for managing mainframe software.
WAN Newsletter: Lucent-Alcatel: Is it a good merger?, 04/13/06
Looks like we’re headed for the Merger-of-the-Month Club in the telecommunications industry. Last month, on the service provider side of the house, AT&T …
Sony Ericsson profits surge on strong phone sales, 04/13/06
Mobile phone maker Sony Ericsson Mobile Communications Thursday reported a surge in first-quarter profits, helped by a large increase in the number of phones it shipped.
Oracle to buy Portal Software for $220 million, 04/12/06
Oracle intends to make another vertical-market acquisition, announcing plans Wednesday to offer about $220 million to acquire Portal Software, a maker of billing and revenue management software for the communications and media industry.
Metavante ties with Indian outsourcer to offer services, 04/12/06
Metavante, a technology and services provider to the U.S. banking and payments industries, will offer business process outsourcing services from Indian outsourcer ICICI OneSource, the companies announced Wednesday.
EBay invests $2 million in social networking site, 04/12/06
EBay has invested $2 million in social networking company Meetup, according to a form 8-k eBay filed with the U.S. Securities and Exchange Commission on Tuesday.
Nortel taps IBM for services head, 04/11/06
Nortel has named a former IBM executive to head its Global Services division.
Skype buys VoIP technology companies, 04/11/06
Skype Tuesday announced it has acquired Internet voice technology company Sonorit Holding and its U.S. subsidiary, Camino Networks, for about $27 million in eBay stock.
Salesforce.com launches mobile access with acquisition, 04/11/06
Salesforce.com Tuesday announced that it has acquired wireless technology developer Sendia for $15 million in cash.
