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Business Briefs: December 15, 2008


By SD Times News Team
December 15, 2008 — 
IBM announced plans to acquire Transitive, a Los Gatos, Calif.-based virtualization company. Transitive’s technology has been incorporated into IBM’s PowerVM software, which helps customers consolidate x86 Linux workloads onto IBM systems. IBM executives said the acquisition is part of its strategy to expand its virtualization portfolio.

Nokia announced that it has completed its offer to Symbian, the software licensing company that created the Symbian mobile device operating system. Nokia said that all conditions for its offer to acquire Symbian have been satisfied.

Video processor maker Novafora signed a definitive agreement to acquire Transmeta, a developer of computing, microprocessor and semiconductor technologies. Novafora executives said that adding Transmeta's power management technology to its video processor will help make its products applicable for many video-oriented devices. The purchase was made for US$255.6 million and is awaiting approval from stockholders.

uTest, a software application testing company, has acquired US$5 million in Series B venture funding. The round of funding was led by investors Longworth Venture Partners and Egan-Managed Capital. uTest executives said the funding will be used to grow the company in the Web, desktop and mobile application markets.  

EARNINGS
Hewlett-Packard reported that fiscal 2008 net revenue was US$118.4 billion, which was up 13% from the previous year. Fourth-quarter 2008 net revenue was $33.6 billion, up 19% on a year-over-year basis, and GAAP operating profit for the quarter was up 4% to $2.7 billion.

Salesforce.com announced fiscal third-quarter revenue of US$276 million, up 43% on a year-over-year basis. Company executives also said they expect fourth-quarter profit to come in slightly below estimates at 6 cents and 7 cents per share, while revenue should top estimates at $284 million to $285 million.


Related Search Term(s): mobile development, virtualization, Hewlett-Packard, IBM, Nokia, Novafora, Salesforce, Symbian, Transitive, Transmeta, uTest


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