Nokia's venture-capital effort is getting a face lift and a new $350 million fund, news that comes as the venture-capital market slowly reawakens from the doldrums of the past several years. "The global technology market is gearing up for several exciting years," said John...
TORONTO-Nortel Networks Ltd. has filed a lawsuit against its former chief executive and two other executives, asking them to repay bonuses they received in 2003.In the filing with the Ontario Supreme Court of Justice, Nortel is seeking for CEO Frank Dunn to return about...
SEATTLE-Dwango North America Corp. raised $15 million in a private placement of Series D convertible preferred stock, the mobile content provider said Thursday.Dwango sold 15,000 shares to four investor groups through Wedbush Morgan Securities. The company offers branded content from Playboy, ESPN, Rolling Stone,...
FREMONT, Calif.-Mobile resource management company @Road Inc. reported revenues and earnings largely in-line with estimates, but its forecasts for the first quarter came in below expectations. Investors sent the company's stock down more than 15 percent after the news to around $5.17 per share."During...
PARIS-Alcatel Corp.'s shares fell on its fourth-quarter result, although the company's mobile business experienced a surge.The company, however, had its first full-year profit in three years with $365 million in contrast to a loss of $2.5 billion in 2003. Its 2004 sales went up...
DUEBENDORF, Zurich-Embedded software company Esmertec, which sells Java virtual machine technology to mobile-phone makers, announced it will purchase the mobile division of Chinese technology company CoreTek Systems. Terms of the deal were not disclosed.Esmertec said the move would boost its presence in the region...
Investors continued to show their faith in wireless this week as three mobile technology companies announced successful funding rounds. Over-the-air (OTA) firmware developer Red Bend Software secured $10 million in Series D financing led by Greylock Partners, which joined seed investor Carmel Ventures in...
Nortel Networks Ltd. brought some good news to its investors by announcing a profit in its first-half 2004 financial results.The first- and second-quarter results sent up its shares.In the first quarter, the company recorded a net income of $59 million, or 1 cent a...
CINCINNATI-Regional telecommunications provider and former AT&T Wireless Services Inc. affiliate Cincinnati Bell Inc. said it was delaying the release of its fourth-quarter and full-year 2004 financial results from Feb. 9 to Feb. 15 due to additional accounting procedures that cropped up following its recent...
CALABASAS HILLS, Calif.-The growing popularity of wireless gaming helped publisher THQ Inc. generate a record $400 million in sales during the third quarter of fiscal year 2005, up 37 percent over the previous year, the company said Tuesday.THQ, which develops and distributes games for...
LOS ANGELES-In-Fusio continued its aggressive expansion with the acquisition of fellow European game publisher Mobile Scope, the company said Monday.Terms of the deal were not disclosed.The buyout marks the second in about a week for In-Fusio, a France-based publisher specializing in connected gaming. Last...
ATLANTA-Sprint PCS affiliate AirGate PCS Inc. said it received consent from Sprint for the change of control that will occur upon completion of AirGate's pending acquisition by fellow affiliate Alamosa Holdings Inc. The pending acquisition was originally announced last December and calls for Alamosa...
BRISBANE, Calif.-Devicescape Software Inc., a wireless software supplier, said it closed $12.2 million in venture capital funding. The company's original investors-Kleiner Perkins Caufield & Byers, August Capital and Applied Materials Ventures-all participated in the latest round. They were joined in the funding by new...
OTTAWA-The second time may be the charm for Peter Currie as he returns as chief financial officer next month to Nortel Networks Ltd.He will replace William R. Kerr, who ascended the position after a number of Nortel executives lost their jobs over the company's...
REDMOND, Wash.-Microsoft Corp. reported a 7-percent jump in overall revenues to $10.8 billion and an increase in operating income to $4.7 billion in the quarter, news that sent Microsoft's stock up slightly to $26.14 per share.Microsoft reported net income of $3.5 billion.In the company's...
FORTH WORTH, Texas-Nokia Corp. said it will cut about 350 employees in its Texas-based Alliance facility as part of its efforts to optimize efficiencies and increase competitiveness.The job cuts will be completed by April, said the vendor.The company said it will move its final...
ORLAND PARK, Ill.-Andrew Corp. said it had a robust first quarter with a 15-percent sales increase. It had $474.1 million in sales compared with $410.8 million in the year-ago period.Its net income was $14.6 million, or 9 cents per share, as against the year-ago...
MUNICH-Siemens AG recorded a net income of $1.3 billion in its first quarter, up 38 percent from the same period a year ago. The company posted loses in its Communications division-which houses its mobile-phone and networks operations-but strong earnings in other Siemens segments helped...
HELSINKI-Nokia Corp.'s fourth-quarter results showed a 13-percent drop in net profit, but the company is stressing the positive in its mobile-phone shipments and infrastructure performance.The company reported a net profit of $1.31 billion or 29 cents per share, compared with the year-ago period of...
Wall Street stomped Sierra Wireless Inc. after the company said it expects to post a drop in first-quarter revenues and a huge loss, sending the company's stock down an astounding 35 percent to $9.38 per share-the company's lowest share price in more than a...
DALLAS-The chip market is not looking as cheery as a year ago as some of the bellwethers are witnessing slips in their fortunes. Texas Instruments Inc. and RF Micro Devices epitomized this trend as both failed to swing upward in their net earnings.TI reported...
Vodafone Group plc reported its strongest quarter since 2000, posting 5.4 million net customer additions to bring its worldwide subscriber base to 151.8 million. Vodafone's announcement also offered a glimpse into Verizon Wireless' fourth-quarter results to be announced Thursday. According to Vodafone's numbers, Verizon...
GALWAY, Ireland-Accendo Technologies said it secured $1.6 million in funding from Shannon Development Ireland and private investors. The company will use the funds to build its global sales and marketing presence beyond its current relationships in the United States and Asia-Pacific. Funds also will...
SEOUL-LG Electronics Co. Ltd. said it posted solid earnings thanks to strong sales of its TVs and mobile phones. For the full year, LG posted sales up 22 percent from the previous year and a record operating margin of 5.1 percent.In the company's mobile-phone...
