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Business Briefs: March 1, 2009


By SD Times News Team
March 2, 2009 —  (Page 1 of 2)
Subversion hosting and control company CVSDude acquired Australia-based SharpForge, a project management software-as-a-service company. CVSDude, which was founded in 2002 and creates SaaS Subversion and CVS servers, reported its biggest month of revenue in company history in January, in stark contrast to the worldwide economic slowdown. Gross revenues increased by 92% in January 2009 compared to the same month a year before. Exact figures weren’t disclosed because CVSDude is privately owned. The addition of SharpForge to the CVSDude lineup should help to expand the Web-based interfaces that power the company's SaaS SCM offerings, company executives said. Additionally, CVSDude’s corporate headquarters are now in Palo Alto, Calif.

Bill Amelio has left his position as CEO of Lenovo after his three-year contract expired, resulting in a management shuffle for the China-based computer company. Chairman Yang Yuanqing will replace Amelio as the company's president and chief executive, and Lenovo founder and board member, Liu Chuanzhi, returned as chairman. Lenovo reported that its worldwide PC shipments declined by 5% year over year in 2008, and quarterly sales for its third fiscal quarter 2008 fell to US$3.59 billion from $3.7 billion in the same quarter of 2007.

Oracle has announced an agreement to acquire mValent, a provider of application configuration management software. Oracle executives said mValent’s offerings will enhance Oracle Enterprise Manager with capabilities for managing application configurations, such as automation and improved audit and governance. mValent will operate as an independent company until the deal closes, which is expected to happen in June or July. Financial terms were not disclosed.

EARNINGS
Sybase announced a full-year revenue increase of 10% in 2008 compared with 2007, with revenue of US$1.13 billion. License revenue for 2008 increased 11% year over year to $383.7 million. Additionally, Sybase reported that revenue for the fourth quarter of 2008 increased 3% to $305.1 million from $295.2 million in the fourth quarter of 2007.

Symantec reported a net loss for the third quarter of fiscal year 2009 of US$6.81 billion compared with a net income of $132 million for the same quarter last year. The net loss for the third quarter includes a goodwill impairment charge of approximately $7 billion. Symantec executives said the goodwill impairment charge was a result of the current economic slowdown and a decline in the company’s market capitalization. The charge is expected to be finalized during the fourth quarter of fiscal year 2009. Deferred revenue at the end of the third quarter was $2.92 billion, compared with $2.88 billion in the same quarter a year before. Cash flow from operating activities for the third quarter was down to $402 million compared with $462 million for the same quarter a year before.

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