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☆ IBM to acquire HashiCorp in $6.4 billion deal, reports another revenue miss
▼ + stars: | 2024-04-24 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

On Tuesday, The Wall Street Journal reported that IBM was getting close to acquiring HashiCorp, sending shares upward. In 2021 HashiCorp shares started trading on the Nasdaq. HashiCorp shares moved 4% higher in extended trading following the acquisition announcement. Revenue from software, at $5.90 billion, increased about 6% and was below the $5.96 billion consensus among analysts surveyed by StreetAccount. Notwithstanding the after-hours move, IBM shares are up about 13% so far this year, outperforming the S&P 500 index, which is up 6% over the same period.

Persons: Arvind Krishna, Dave McJannet, Rob Thomas, IBM's, HashiCorp Organizations: Economic, IBM, HashiCorp, Street Journal, Bloomberg, Linux, Nasdaq, LSEG, StreetAccount, Weather Company, Francisco Partners Locations: Davos, Switzerland

☆ Does the Peace Sign Stand a Chance?
▼ + stars: | 2024-03-30 | by ( Michael Rock | ) www.nytimes.com time to read: 1 min

The signs and symbols that designate our beliefs and affiliations are slippery. While the Christian cross, the Islamic star and crescent, the Jewish Star of David, and their copyrighted, vigorously litigated corporate equivalents — swooshes, apples and targets — may prove resilient, a dizzying mix of familiar and newly minted graphic devices now compete for our dwindling attention. These days there is no movement without messaging. Even anarchy has a brand identity, its scratchy circled A logo has migrated from your corner lamppost to a pair of Converse Chuck Taylor Anarchy-edition All-Stars. From the pink hats of the Women’s March to the red hats of the Capitol raid, rainbows to thin blue lines, salute emojis to watermelon emojis, we are navigating a thicket of improvised graphic devices.

Persons: David, Converse Chuck Taylor Organizations: Jewish, Capitol

☆ Unity shares sink on weak guidance
▼ + stars: | 2024-02-26 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Unity Software shares plummeted 17% in extended trading on Monday after the gaming software company issued weaker-than-expected guidance for the current quarter. The company said going forward, it would only provide revenue guidance for its "strategic portfolio," which includes its engine, cloud and monetization business units. The company said first-quarter guidance for its strategic portfolio would come in between $415 million and $420 million. "We are right sizing our cost structure to grow from a healthy financial position," Unity said in a shareholder letter. WATCH: Unity Software cutting 25% of workforce

Persons: Unity, John Riccitiello, James Whitehurst, Riccitiello's Organizations: Unity Software, Luna, Red Hat, Unity, Software

☆ A lower-cost way to play the S&P 500's run to 5,000
▼ + stars: | 2024-02-08 | by ( Michael Khouw | ) www.cnbc.com time to read: +8 min

The S & P 500 once again closed at a new all-time high, achingly close to 5,000 for those enamored of nice round numbers. .SPX 1Y mountain S & P 500, 1-year Is there an option trade we can use if we're not sure? If S & P earnings grow closer to their historical average, then $240ish (let's stick to round numbers) might be a more accurate estimate. $240 a shares multiplied by 20 = $4,800 in the S & P. So in that context 5,000 is a little rich, but not much. The VIX Index , a measure of 30 day volatility in the S & P 500, is below 13, cheaper than usual.

Persons: we're, Jeremy Grantham, Paul Krugmans, aren't Organizations: Investors, Nvidia Locations: China, U.S

“It breathed new life into Trump.”RISKY BETS THAT PAID OFFFrom the start, Trump president acted like the front-runner, declining invitations to multicandidate events and refusing to debate. “You've got to give credit to the Trump campaign,” said Saltsman, who chaired the 2024 campaign of Mike Pence, who was Trump's vice president. Beyond the endorsements, Trump's team also worked closely with state parties as they set delegate allocation rules, encouraging winner-take-all contests and other changes that would ultimately benefit a front-runner. THE LOYALTY FACTORAs the first nominating contests neared, Trump's team worked to harness the dedication of his loyal supporters. Trump’s team rewarded its volunteers with perks such as VIP tickets to his rallies and gold-embroidered hats.

Persons: Donald Trump, Trump, Nikki Haley, Democrat Joe Biden, Chip Saltsman, ”, Chris LaCivita, Biden, Ralph Reed, “, Reed, Trump's, Joe Biden, Jason Miller, Michael Telesca, you’ve, ” LaCivita, Ron DeSantis, winnable, DeSantis, Trump’s, DeSanctimonious, Taylor Budowich, MAGA, “ MAGA, ” Budowich, “ DeSantis, Gary Leffler, Leffler, Kevin McCarthy, Liz Cheney, McCarthy, Mike DuHaime, Chris Christie, “ You've, Saltsman, Mike Pence, " Miller, Brian Jack, Haley, Marc Short, ‘, LaCivita, John Goodrich, Goodrich, Hannah Fingerhut Organizations: White, U.S . Capitol, Trump, Republican, Nevada’s Republican, GOP, Democrat, Biden didn't, & Freedom Coalition, Trump's, Democratic, Biden’s Justice, Republican Party, Inc, Security, PAC, CNN, “ MAGA Inc’s, U.S . House, Mar, Former U.S . Rep, New, New Jersey Gov, Biden, South, Associated Press Locations: NASHUA, N.H, Washington, Iowa, New Hampshire, New York, East Palestine , Ohio, East Palestine, Lago, Florida, U.S, Georgia, Hickory , North Carolina, West Des Moines , Iowa, New Jersey, Europe, South Carolina, Des Moines, Des Moines , Iowa

☆ Warren Buffett's Berkshire Hathaway keeps buying Liberty's SiriusXM tracking shares. Here's why
▼ + stars: | 2024-01-28 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Berkshire Hathaway continued to buy Liberty Media's tracking stock for New York-based satellite radio company SiriusXM in a likely merger arbitrage play. Billionaire John Malone's media conglomerate currently owns 84% of Sirius XM and has two tracking stocks that represent that stake in the streaming satellite music service — Liberty Media Corp. Series A shares, or LSXMA , and Liberty Media Corp. Series C shares, or LSXMK . Under the terms of the deal, expected to close early in the third quarter, each Liberty Media Sirius tracking share will be exchanged for 8.4 "new" SIRI shares, while "old" SIRI shareholders would receive new shares in a one-for-one exchange. Berkshire loading up In the past week, Warren Buffett's conglomerate added 438,945 shares of LSXMA and 1 million shares of LSXMK for nearly $45 million combined, according to regulatory filings . Berkshire first bought LSXMK in 2016 and now owns almost 22% of the tracking stock, according to FactSet.

Persons: Berkshire Hathaway, John, SIRI, Warren, Buffett, Ted Weschler, Todd Combs, Seth Klarman's Baupost, SIRI overvalued, Wells, Steven Cahall, Cahall, Jason Bazinet, Charlie Munger, Charlie, hasn't Organizations: Berkshire, Liberty, Sirius XM, — Liberty Media Corp, Liberty Media Corp, Nasdaq, Liberty Media, Liberty Media Sirius, Sirius XM Holdings, Sirius, Citigroup, Activision Blizzard, British Columbia Power, Monsanto, Bayer AG, IBM Locations: New York, Berkshire, LSXMA, LSXMK, Omaha

☆ Unity Software to lay off 1,800 employees, or 25% of staff
▼ + stars: | 2024-01-08 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +2 min

Unity Software said Monday that it's cutting 1,800 jobs, or about 25% of its workforce, in the latest round of layoffs at the gaming technology company. Unity said in a regulatory filing that the cuts are part of a corporate restructuring plan. In September, Unity announced a pricing change that upset numerous developers who rely on the company's technology to create video games. The following month, John Riccitiello retired as Unity's CEO, also stepping down as chairman and leaving the board. WATCH: Unity Software's John Riccitiello retiring as president and CEO

Persons: Unity, it's, John Riccitiello, James Whitehurst, Roelof Botha Organizations: Unity Software, Unity, Red, Unity's, Sequoia Capital

☆ Hugging Face CEO says he's focused on building a 'sustainable model' for the $4.5 billion open-source-AI startup
▼ + stars: | 2023-12-28 | by ( Ashley Stewart | Monica Melton | ) www.businessinsider.com time to read: +8 min

It's an open-source platform where scientists, researchers, and engineers build, train, and deploy AI models. With his company, Delangue wants to follow in the footsteps of companies such as Red Hat by making open-source AI a profitable endeavor. "If we don't support openness, open science, and open-source AI, just a few companies will be able to do it," Delangue told Business Insider. The episode has made open-source models look more attractive because they don't rely on a single company that could suddenly lose all its employees. What do you see your customers using Hugging Face's AI models for most?

Persons: Clément Delangue, Delangue, OpenAI, Sam Altman, —, Giada, Pistilli, We're, autocomplete, We've, we've, that's Organizations: Service, Business, Investors, Amazon, Google, Nvidia, IBM, BI, Microsoft Locations: Amazon

☆ Fact Check: Image of officer smiling while pepper spraying Jan. 6 protester is altered
▼ + stars: | 2023-11-28 | by ( Reuters Fact Check | ) www.reuters.com time to read: +2 min

An altered image of a police officer who is smiling while releasing pepper spray on a protester during the Jan. 6 attack on the U.S. Capitol has been shared in online posts that suggest the protest was a setup. Images of officers using pepper spray during clashes with protesters can be seen on Reuters Pictures. Spray pepper spray into the face of a peaceful protester on J6. The photo shows an officer with a patch on his jacket that reads “Metropolitan Police” releasing pepper spray on the man wearing a hat. The officer’s face has been altered in the circulating image, and the original does not show him smiling while releasing pepper spray.

Persons: Donald Trump, Joe Biden, Roberto Schmidt, Read Organizations: U.S . Capitol, Capitol, Reuters Pictures, Facebook, Getty, Metropolitan Police, AFP, Reuters, Thomson

☆ Napoleon hat fetches record $2.1 million at Paris auction
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +1 min

PARIS, Nov 19 (Reuters) - A bicorne hat believed to have belonged to Napoleon Bonaparte sold for a record 1,932,000 euros ($2.11 million) at the Drouot auction house in Paris on Sunday. The price beat the 1,884,000 euros paid for another Napoleon hat at Drouot in 2014, a official at the auction house said. "One million four hundred fifty thousand (euros) to my left, 1.5 million, we have 1.5 million in the room, 1.5 million for Napoleon's hat. We're leaving it at 1.5 million for this major Napoleon symbol, I'm selling for 1.5 million (before fees), no regrets, sold," auctioneer Jean-Pierre Osenat said as he brought down the hammer to applause. Ahead of the auction, Osenat told Reuters the black beaver felt hat in the traditional bicorne shape was a trademark for Napoleon, who had owned about 120 such hats throughout his life.

Persons: Napoleon Bonaparte, Napoleon, Jean, Pierre Osenat, Osenat, Ardee Napolitano, Geert De Clercq, Andrew Heavens Organizations: Reuters, Bonhams, Thomson Locations: Paris, London

☆ Unity shares slide as the company posts a revenue miss and skips guidance
▼ + stars: | 2023-11-09 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Unity Software shares fell as much as 15% in extended trading on Thursday after the video-game engine maker reported a third-quarter revenue miss and refrained from issuing guidance. "Our results in the third quarter were mixed," Unity said in a letter to shareholders. Whitehurst sold Red Hat to IBM for $34 billion in 2019. He said he sees some parallels between Red Hat and Unity, including market leadership and revenue growth. Notwithstanding Thursday's move, Unity shares are down about 12% this year, while the S&P 500 index has gained 13%.

Persons: John Riccitiello, Jim Whitehurst, Whitehurst, Luis Felipe Visoso Organizations: Unity Software, StreetAccount, Unity, Red Hat, Management, Hat, IBM, Whitehurst Locations: China

☆ 28 Best Gifts for Dog Lovers
▼ + stars: | 2023-10-17 | by ( Jennifer Tzeses | ) www.wsj.com time to read: +15 min

Browse the ideas below, and take a look at our roundups of expert-approved products to keep your pet calm and the best gifts for cat lovers too. For the bakerThe Dash Dog Treat Maker—a small waffle iron with bone-shaped plates—lets your pal whip up homemade dog treats. Many similar custom pet portraits are available on Etsy, including a Mini Custom Watercolor Pet Portrait from Riverry Studio and a Custom Watercolor Pet Portrait from Pet Portrait Galaxy. “I will treasure them forever.” Haussmann also loves custom pet portraits and gifted one to his brother-in-law. For any dog ownerBaapet Dog Leash with Padded Handle $9+ at AmazonWe included the Baapet Dog Leash with Padded Handle as the best for everyday use in our list of the best leashes for every type of dog.

Persons: Jennifer Tzeses, —, Juliana DeWillems, ” DeWillems, Fido, DeWillems, ”, Robert Haussmann, he’s, Hernandez, AJ Hernandez, ’, Roxy, Maggie Marton, she’s, Marton, “, ” Haussmann, they’re, Cynthia Dockx, Haussmann, “ It’s, can’t, it’s, Buddy, Licking, Sophie Gamand, Hunter Finn, Dr, Finn, Mikkel Becker, Julie Burgess, Lucy, Pilar Scratch, Shih Tzu, Oddie, Ingrid Johnson, Johnson, Bob, It’s, Bellamy Richardson Organizations: Behavior Consulting, Washington , D.C, Dogboy, Riverry, BPA, Rover, Homes, Colo, Etsy, Apple Locations: Washington ,, Boston, Indiana, Morris Plains, N.J, Haussmann, McKinney , Texas, Seattle, Chihuahua, It’s, . New York, Petsafe

☆ Meta's unique approach to developing AI puzzles Wall Street, but techies love it
▼ + stars: | 2023-10-16 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +18 min

If the world's leading AI researchers use Llama, Meta could have an easier time hiring skilled technologists who understand the company's approach to development. Spisak helped oversee PyTorch and other open source AI projects when he worked at Meta from 2018 until January 2023. Although a number of open source LLMs are available, Lambert said Llama 2 is by far the most popular. "Facebook was not and that's sort of how they move forward and democratizing this, giving sort of broad access to open source. However, open source doesn't always win, and Padval acknowledged that "in this case, I don't know how it's going to evolve."

Persons: Mark Zuckerberg, Josh Edelson, Mark Zuckerberg's multibillion, Joseph Spisak, that's, Zuckerberg, Meta, Andrew Bosworth, Yann LeCun, isn't, Susan Li, Spisak, Cai GoGwilt, GoGwilt, OpenAI's, Ahmad Al, Dahle, he's, Jim Fan, Arjun Bansal, Jensen Huang, Nathan Lambert, Lambert, Critics, Umesh Padval, " Lambert, Nvidia's, Fan, Meta's, Taka Ariga, Ariga, Claude, Elon Musk, Tesla, Nur Hamdan, OpenAI's GPT, Sam Altman, Guido Appenzeller, Thomvest's Padval, Padval Organizations: Meta, AFP, Getty, Microsoft, Industry, Linux, Microsoft Windows, Facebook, Twitter, Finance, Google, AI Research, FAIR, Apple, Nvidia, Web Services, Thomvest Ventures, TC Cowen, United, United Arab Emirates, U.S, Government, AWS, Bloomberg, Amazon, VMware, Intel, Red Hat Locations: Menlo Park , California, Taiwan, United Arab, Washington, Elon, Hamadan, Seoul, South Korea

☆ Vivek Ramaswamy says it's 'not productive' for companies to blacklist Harvard students who make 'dumb' statements like blaming Israel for the Hamas attacks
▼ + stars: | 2023-10-15 | by ( John L. Dorman | ) www.businessinsider.com time to read: +5 min

"I say this as someone who vehemently disagrees with those Harvard student groups," he wrote on X. "The Harvard student groups who co-signed the anti-Israel letter are simple fools," Ramaswamy wrote. "But it's not productive for companies to blacklist kids for being members of student groups that make dumb political statements on campus." I say this as someone who vehemently disagrees with those Harvard student groups." But it’s not productive for companies to blacklist kids for being members of student groups that make dumb political statements on campus.

Persons: Vivek Ramaswamy, Bill Ackman, —, it's, Ramaswamy —, who's, Ramaswamy, Donald Trump, Ackman Organizations: Harvard, Service, Sunday, Yale, Republican, Israel Locations: Israel, Harvard's, Cambridge , Massachusetts

☆ New Mexico man claims self-defense for protest shooting
▼ + stars: | 2023-10-13 | by ( Andrew Hay | ) www.reuters.com time to read: +3 min

The statue, located just north of Espanola, New Mexico, was removed in 2020 during nationwide anti-racism protests. Prior to the shooting Martinez told a police officer and protesters to “fuck off” when they approached him, Rio Arriba County Sheriff’s Deputy Steve Dennis testified. Protest organizer Mateo Peixinho said he asked Martinez prior to the shooting why he had come to the event. Some descendants of Spanish colonial settlers, known as Hispanos, say Onate should be celebrated as part of New Mexico's Hispanic heritage. Reporting by Andrew Hay in Tierra Amarilla, New Mexico Editing by Donna Bryson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Ryan Martinez, Jacob Johns, Martinez, Juan de Onate, Nicole Moss, Donald Trump, MAGA, Johns, Moss, Steve Dennis, Mateo Peixinho, Onate, Andrew Hay, Donna Bryson, Matthew Lewis Organizations: Sandia Park, Police, Mr, University of New, University of New Mexico Hospital, Thomson Locations: Spanish, Rio Arriba, Tierra Amarilla , New Mexico, U.S, , New Mexico, Mexico, Spokane , Washington, Espanola , New Mexico, Espanola, Rio Arriba County, University of New Mexico, Albuquerque, New

☆ Here are 20 stocks I'm watching Tuesday, including Lilly, AMD and Goldman Sachs
▼ + stars: | 2023-10-10 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Here are some of the tickers on my radar for Tuesday, Oct. 10, taken directly from my reporter's notebook:If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Harley-DavidsonRivian AutomotiveRealty IncomeMizuho lowers WalgreensJMP and Barclays lower RobinhoodBlockUnity Software CEO John Riccitiello out. James Whitehurst, former Red Hat chief in at UnityCiti takes Corning

Persons: Jim Cramer's, Davidson, John Riccitiello, James Whitehurst, Corning Organizations: Realty, Walgreens, Barclays, Unity Software, Red Hat, Unity Citi

☆ Unity Software CEO to retire effective immediately
▼ + stars: | 2023-10-09 | by ( ) www.reuters.com time to read: 1 min

Oct 9 (Reuters) - Video-game software maker Unity (U.N) said on Monday John Riccitiello would retire as chief executive officer, effective immediately. The company has appointed James Whitehurst as interim CEO and Roelof Botha as chairman, it said in a statement. He joined IBM through the acquisition of software company Red Hat, where he was president and CEO from 2008 to 2020. Riccitiello would continue to advise Unity and the board would initiate a process to appoint a permanent CEO. The company behind the Unity Engine software had in September rolled back key parts of a new "runtime fee" pricing policy that sparked backlash from gaming developers.

Persons: John Riccitiello, James Whitehurst, Roelof Botha, Whitehurst, Riccitiello, Samrhitha, Shilpi Majumdar Organizations: Unity, IBM, Hat, Thomson Locations: Bengaluru

☆ Unity CEO John Riccitiello is retiring from gaming software company after controversial pricing change
▼ + stars: | 2023-10-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +2 min

Unity CEO John Riccitiello is retiring from the gaming software company following a controversial pricing change that frustrated numerous developers. Riccitiello, who has been running Unity for nine years, will also step down as chairman and is leaving the board, the company said Monday. James Whitehurst, former CEO of Red Hat, will become Unity's interim CEO. Unity said it will begin searching for a permanent CEO and Riccitiello "will continue to advise Unity to ensure a smooth transition." In September, Unity announced a pricing change that upset numerous developers who rely on the company's technology to create video games.

Persons: John Riccitiello, James Whitehurst, Roelof Botha, Unity, It's, Riccitiello, John Riccitello Organizations: Red, Sequoia, Unity's, Unity

The rest are running for the Republican nomination for president. Ron DeSantis has the words “Ron DeSantis” plastered across the breast of his fishing-style shirts. On sunny days, Tim Scott wears a white baseball cap that says “Tim Scott.” Vivek Ramaswamy’s polo shirts read “Vivek,” and Doug Burgum and Asa Hutchinson wear hats and shirts with their names on them. On the 2024 trail, nearly all of the Republican presidential candidates have turned themselves into human billboards for their campaigns. It’s a fashion choice that would be more typical for a state legislator, and it hasn’t been seen before on such a broad scale during a national campaign.

Persons: Ron DeSantis, Tim Scott, ” Vivek, Vivek, ”, Doug Burgum, Asa Hutchinson, Donald J, Trump, —, hasn’t Organizations: Republican

☆ Opinion: A mountaintop enclave facing genocide. And a plan to stop it
▼ + stars: | 2023-09-13 | by ( Opinion Lara Setrakian | ) edition.cnn.com time to read: +11 min

Local Armenian authorities have vied for independence from Azerbaijan for decades, leading to an ongoing political and military conflict. Since December, the Lachin Corridor, the main road into the mountaintop enclave, has been blocked by Azeri protesters and government forces, who stopped the normal flow of goods. Multiple monitoring groups say there is widespread food scarcity on the ground, with child and adult malnutrition setting in. Last Sunday, Secretary of State Antony Blinken spoke with Azerbaijani President Ilham Aliyev, voicing US concern over what he called “the deteriorating humanitarian situation” facing Nagorno-Karabakh Armenians. The fastest path would be for Azerbaijan to restore movement along the Lachin Corridor, letting in aid from the ICRC.

Persons: Lara Setrakian, Luis Moreno Ocampo’s, Tom Lantos, Lara Setrakian Heidi Gutman Nagorno, Ocampo, ”, Antony Blinken, Ilham Aliyev, Blinken, Aliyev, Cross, Mary Asatryan, “, —, KAren Minasyan, shouldn’t Organizations: Applied Policy Research Institute, Twitter, CNN, Criminal Court, Rights, Soviet Union . Local, International Committee, Reuters, Court, Justice, ICRC, Stepanakert Medical, Azerbaijan’s Ministry of Foreign Affairs, Institute for War, Karabakh, Facebook Locations: Yerevan, Armenia, Nagorno, Karabakh, Republic of Artsakh, Azerbaijan, Soviet, Russian, Mary Asatryan Azerbaijan, Baku, Aghdam, EU, Soviet Union, Nakhichevan, Syria, Sarajevo, Darfur, Russia, Turkey, Israel

☆ Fact Check-Vatican cardinals’ coat of arms shows hat, not UFO
▼ + stars: | 2023-09-08 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A hat-shaped symbol used as part of a Roman Catholic cardinal’s coat of arms has been misrepresented online as a UFO symbol to question whether the Vatican is ruled by aliens. A coat of arms of a cardinal, the pope’s highest advisors, includes the red galero, a wide-brimmed hat, with long tassels on either side. Yet online posts sharing an image of the coat of arms ask, “Is the Vatican ruled by aliens?” (here) and (here). Instead, a smaller red hat called a biretta is now given to newly installed cardinals, Father Richard Kunst, a priest who collects papal artifacts, explains on his webpage (here). The posts share a photo of a cardinal’s coat of arms, not a UFO symbol at the Vatican.

Persons: “, Church Pope Paul VI, Father Richard Kunst, Read Organizations: Vatican Council, Church, Roman Catholic Church, Reuters

☆ IBM reports earnings beat, but misses on revenue
▼ + stars: | 2023-07-19 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

IBM reported second-quarter earnings on Wednesday that topped analysts' estimates as the company expanded its gross margin. Revenue: $15.48 billion, versus $15.58 billion expected, according to Refinitiv. Net income for the quarter rose 13% to $1.6 billion from $1.4 billion, or $1.72 per share, a year earlier. IBM reiterated on Wednesday that it expects between 3% and 5% revenue growth through the end of the year in constant currency. The company's infrastructure division, which includes its mainframe sales, declined 14.6% to $3.6 billion in revenue.

Persons: Arvind Krishna, James Kavanaugh, Krishna Organizations: IBM, Economic, Revenue, Intel's, Hat Linux, Health, Systems Locations: Davos, Switzerland, Refinitiv

☆ Oracle blasts IBM and publicly offers to hire Linux engineers after Red Hat's latest controversial move
▼ + stars: | 2023-07-11 | by ( Julie Bort | ) www.businessinsider.com time to read: +6 min

IBM's Red Hat has caused an uproar in the Linux community with its latest attempt to squash competitors like Oracle that offer clones of its flagship Red Hat Enterprise Linux software. Oracle has also offered its own version of RHEL called Oracle Linux since 2006, and Oracle and Red Hat have had an antagonistic relationship ever since. And, because that new, you-shall-not-share provision violates the spirit of open source (and some question if it also violates open source licenses), there was a predictable backlash from open source advocates. The core of it — known as the kernel — is built by the Linux Foundation, a non-profit that is separate from Red Hat (although Red Hat supports the foundation). On Monday, Edward Screven, Oracle's top engineering leader, published a blog post with head of Oracle Linux development Wim Coekaerts slamming IBM.

Persons: CentOS, Alma, Greg Kurtzer, RHEL, Mike McGrath, We've, McGrath, Kurtzer, it's, we've, CIQ, Edward Screven, Wim Coekaerts, Coekaerts, Screven, Red, Edward Screven Oracle, Taylor Tyson Organizations: Linux, Oracle, Red Hat, IBM, Red Hat Enterprise Linux, Alma Linux, Rocky Linux, Hat, CentOS, Oracle Linux, Red, Linux Foundation, Microsoft

☆ IBM to buy software co Apptio for $4.6 bln to bolster cloud offering
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

June 26 (Reuters) - IBM (IBM.N) said on Monday it will acquire cloud software company Apptio from Vista Equity Partners for $4.6 billion in cash, in the latest deal to bolster its capabilities in cloud and automation. IBM said it will finance the transaction with cash on hand and expects the deal to close in the latter half of 2023. IBM cut about 3,900 jobs early this year and reported under 1% year-over-year increase in revenue in the March quarter. Founded in 2007, Seattle-based Apptio helps companies manage and understand their spending on cloud services and offers functionalities such as IT budgeting, forecasting and financial analyses. Private equity firm Vista Equity Partners agreed to pay about $2 billion for Apptio in 2018, which was over double its market cap at the time.

Persons: Apptio, Yuvraj Malik, Krishna Chandra Organizations: IBM, Vista Equity Partners, Hat, Kyndryl Holdings, Apptio, Thomson Locations: Amazon.com's, Seattle, Bengaluru

☆ IBM nears $5 billion deal for software provider Apptio, Wall Street Journal reports
▼ + stars: | 2023-06-24 | by ( ) www.reuters.com time to read: +1 min

June 23 (Reuters) - IBM (IBM.N) is nearing a deal to acquire software company Apptio for about $5 billion, the Wall Street Journal reported on Friday, citing people familiar with the matter. A deal between the companies could be completed over the weekend, the Journal reported, adding that it was unclear whether the purchase price includes debt. Apptio, taken private by Vista Equity Partners in 2018 for $1.94 billion, provides products including cloud-based and hybrid business management software, a possible asset for technology giant IBM. The deal follows IBM's 2021 purchase of software provider Turbonomic for over $1.5 billion and its 2019 acquisition of software company Red Hat for $34 billion. Reporting by Rahat Sandhu in Bengaluru; Editing by Sandra Maler, Diane Craft and William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Apptio, Rahat Sandhu, Sandra Maler, Diane Craft, William Mallard Organizations: IBM, Wall Street, Vista Equity Partners, Hat, Thomson Locations: Bengaluru

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