NEW YORK, July 12 (Reuters) – When Cisco Systems Inc
(CSCO.O: Quote, Profile, Research) decided years ago to drop a network-security project
known internally as “Apollo,” little did it know it had paved
the way for a startup to blossom into a formidable competitor.
That company, Palo Alto Networks, is one of the leaders
today in the multibillion-dollar market for corporate Internet
firewalls. Founded in 2005, Palo Alto Networks debuts next week
in an initial public offering that could value the firm at more
than $2 billion. [ID:nL2E8I95X3]
(Reuters) – Top chip gear maker Applied Materials Inc (AMAT.O: Quote, Profile, Research, Stock Buzz) slashed its full-year targets due to a sudden drop in orders in its biggest market towards the end of the current quarter, underscoring fears of a downturn in global technology spending and hitting shares of Asian chip firms.
The company, which generates over half of its total revenue from its Silicon Systems Group business – the unit that caters to chipmakers and foundries – was hit by an extraordinary cutback in orders as a weak economy discouraged spending and PC sales floundered. And the worst may be yet to come.
(Reuters) – Top chip gearmaker Applied Materials Inc said on Tuesday it will miss its full-year targets due to weaker-than-expected demand from foundry customers, echoing warnings from other companies on slower spending.
Applied Materials said demand from foundry customers who build chips for other companies was slowing down and could hurt full-year profitability by about 15 cents to 20 cents per share, compared with previous estimates.
July 10 (Reuters) – Top chip gearmaker Applied Materials Inc
(AMAT.O: Quote, Profile, Research) said on Tuesday it will miss its full-year targets due
to weaker-than-expected demand from foundry customers, echoing
warnings from other companies on slower spending.
Applied Materials said demand from foundry customers who
build chips for other companies was slowing down and could hurt
full-year profitability by about 15 cents to 20 cents per share,
compared with previous estimates.
By Nicola Leske and Supantha Mukherjee
(Reuters) – Dell Inc will buy IT management company Quest Software Inc for $2.4 billion to expand its software business and decrease its dependence on the declining personal computer market.
Dell said on Monday it will pay $28 per share, trumping a bid from private investment firm Insight Ventures, adding that it expects the deal to close in the third quarter of its fiscal year 2013, which started February 4.
Palo Alto Networks, the network security company, that modernized the firewall with its web application inspection took a look at what people do at work by analyzing Internet traffic in over 2,000 organizations.
Seems a lot of people watch videos.
In fact, Palo Alto’s semi-annual application usage and risk report says the bandwidth used by streaming video more than tripled to 13 percent from 4 percent in December 2011.
Cisco CEO Chambers’ mantra that video is the new voice all depends on how easy and simple it is to start a video call.
(Reuters) – Cisco Systems Inc’s chief technology officer Padmasree Warrior is taking on the additional job of chief strategy officer but unlike her predecessor, Ned Hooper, she is not considered a contender to be CEO.
Hooper, a 13-year Cisco veteran, oversaw the $3.4 billion deal for Norwegian video conferencing company Tandberg as well as the $5 billion acquisition of the pay-TV smartcard maker NDS, a deal which has not yet closed.
NEW YORK, June 25 (Reuters) – Verizon Wireless and
Deutsche Telekom’s U.S. unit have agreed to a
spectrum deal that may clear the way for the U.S. company’s
plans to buy a chunk of spectrum from cable providers.
The agreement, which needs approval by the Federal
Communications Commission (FCC) and the Department of Justice,
included exchanges of spectrum between the two carriers and a
cash payment from T-Mobile USA, the companies said on Monday.
NEW YORK (Reuters) – SAS Institute, the world’s largest privately held software company, said it plans to remain independent despite continued approaches from companies such as IBM keen to acquire the only pure play data analytics firm, its top executive said.
“Before IBM went on their buying spree they came to us first because they recognized the fact that our solutions were something no one else has, everyone else is just a tool maker,” Chief Executive Jim Goodnight said in an interview on Wednesday.