IN THE PAPERS
In the papers 6 December
06-12-2007
by Sylvia Leatham
Irish start-ups seeking US funding should create US parent, says investor | Hackers target Apple Mac
The Irish Times reports that Eircom owner Babcock & Brown Capital has assured its shareholders that it will provide an update on its investments by the end of March 2008. The move came in response to a demand from the fund's second biggest investor, UK hedge fund manager PendVest, that it consider winding up and selling Eircom and other assets. However, PendVest, which holds a 5.2 percent stake in Babcock & Brown Capital, agreed following discussions with Babcock's directors that the firm's telecommunications assets were "best realised over the medium term and not in the short term."
The paper also says that Irish tech firms that are planning to raise finance or be sold in the United States should incorporate US parent companies when they start up, according to one leading American investor. Being owned by a US entity makes it easier if those companies are subsequently acquired by another US firm or float on one of the major US markets, said Richard Irving, managing partner with Pond Venture Partners. The comments were made at Enterprise Ireland's Pitch Forum 2007 event, where local venture capitalists advised Irish firms on how to raise investment in Silicon Valley.
The same paper notes that Salesforce.com said it would reach a "major milestone" this month, with paying subscribers expected to reach the 1 million mark. Read more on this story on ENN.
The Financial Times says the Apple Mac is becoming an increasingly tempting target for malicious computer hackers, according to a new report. Over the past few months, the number of malicious programs targeting the Mac has increased, according to F-Secure, an internet security company. "Over the past two years, we had found one or two pieces of malware targeting Macs," said Patrik Runald, an F-Secure security researcher. "Since October, we've found 100-150 variants."
According to the Wall Street Journal, IBM scientists have described a "significant milestone" in speeding up computer processors by using optical signals on a chip instead of electronic signals. Within five years, the advance could lead to tiny, energy-efficient chips that process far more information than today's chips, without overheating. IBM said the amount of processing that now requires a supercomputer the size of a refrigerator could be accomplished in a laptop.
The paper also says that Microsoft is to field-test an inexpensive laptop PC for developing nations as part of Massachusetts Institute of Technology professor Nicholas Negroponte's One Laptop Per Child project. Microsoft's plans mark a step closer by the software giant to a project initially billed as an alternative to computers based on Microsoft's technology. Microsoft said it is trying to rework Windows XP to run on Negroponte's computer, called the XO laptop.
The same paper notes that Comcast expects to fall short of its guidance for several key financial metrics for the year, citing "an increasingly challenging economic and competitive environment." The largest cable TV provider in the US said it now expects to add 6 million new customers this year, down from its prior guidance of 6.5 million. Growth in capital spending is expected to be 5 percent higher than prior guidance at USD6 billion. As a result, Comcast expects its operating cash flow, cable revenue and free cash flow to come in below its prior expectations.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 