IN THE PAPERS
In The Papers 8 November
08-11-2010
by Sylvia Leatham
Global PC shipments on the rise | Trintech takeover faces dissent
The Irish Times reports that Dell's Dublin-based sales and support operations grew pretax profits last year by 5.7 percent to EUR11.5 million. Latest accounts for Dell Direct show that revenues in the 12 months to the end of January 2010 declined from EUR141.9 million to EUR104 million. However, a cut in its cost base from EUR131.9 million to EUR94.1 million boosted profits.
The Financial Times reports that Taiwanese smartphone maker HTC is hiring staff to prepare for the possible launch of an online app store, according to sources. One person with knowledge of the situation said HTC was hiring content editors for a planned online HTC store for its phones, to include sales of e-books, magazines and applications. The team is understood initially to include a small number of staff based in Taiwan, with plans to expand to 100 people in different locations around the world.
The paper also says that Microsoft and Saxo Bank of Denmark will this week launch an online platform for individual traders to capitalise on investors' increasing desire to take control of their finances. The pair will on Wednesday launch MSN Trader, which would allow individual investors to trade 11,000 shares on 23 exchanges globally "in combination with functionalities which were previously available to professional investors only". These include in-depth research such as being able quickly to compare investment opportunities in a company with its peers in the same sector.
According to the Wall Street Journal, AOL has hired financial advisers to explore various strategic options for the company, one of which includes a possible tie-up with Yahoo, sources said. AOL's advisers have been presenting different scenarios to AOL officials that illustrate how the two companies could combine their operations and whether the complexity of any such transaction could be surmounted, these people said. AOL, which has held previous merger talks with Yahoo, has stopped short of reaching out to its potential partner with a formal proposal, the sources said.
The paper also reports that global PC shipments continued to expand in the third quarter, rising 7 percent sequentially and 10 percent from a year ago, according to research firm iSuppli. Worldwide PC shipments came to 88.1 million units during the latest quarter, up from 82.6 million in the second quarter and 79.9 million a year ago. iSuppli also projected that global PC shipments will continue to rise in the fourth quarter.
The Sunday Tribune reports that a US investment fund is threatening to derail the takeover of Dublin-based software firm Trintech. Nicusa Capital, which owns 3 percent of Trintech's shares, said that the USD130 million offer for the company by Spectrum Equity Partners significantly undervalued the business. "The board has accepted a low-ball offer for Trintech and is trampling on the rights of minority shareholders in the process. We demand that you renegotiate the deal," Nicusa Capital managing partner Paul Johnson wrote in a letter to Trintech chief executive Cyril McGuire.
The Sunday Independent says that Google Earth and Google StreetView are being used by the Revenue Commissioners to find evidence of undeclared wealth or illicit earnings. The satellite and street view images can be used to provide evidence of major home extensions, swimming pools or other assets that could indicate wealth above the levels indicated by a person's tax returns.
The Sunday Business Post says that TV3 has started selling clothes online that feature in its programmes. Ireland AM launched the TV3 Fashion Shop last Thursday, and more online retail opportunities may be considered. Dresses.ie has partnered with TV3 in the project, but all products and payments processing are done through the station's website.
The paper also notes that TV3 was absent from the line-up of stations on the new DTT service when the trial launched over a week ago. This was due to the channel's failure to finalise paperwork required by RTE, which is running DTT and owns the transmission network.
The same paper notes that Dublin IT firm Ergo has acquired CDSoft for an undisclosed sum. Ergo chief John Purdy said the deal was a seven-figure transaction. The combined businesses are expected to contribute at least 20 percent to Ergo revenues in the first year.
The paper also notes that parking software firm GlobeTech has won a contract worth EUR2.2 million with Abu Dhabi's department of transport.
The paper also says that BPI Telecom is launching a new 'Swapkit' scheme that allows retailers to offer shoppers cash for old mobile phones or iPods. Sales director Brian Egan said BPI had signed up more than 170 retailers for the scheme.
The paper also says that Dublin IT security firm Integrity Solutions has said it is on track to reach revenues of EUR9 million this year, and may double its profits. Founder Eoin Goulding said the company turned over EUR4.5 million in the first six months of 2010. Net profit last year was EUR442,000.
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