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Howard Stringer to leave Sony CEO role, promotes Kazuo Hirai

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Sony has announced that Sir Howard Stringer will leave his role as President and CEO; and that Kazuo Hirai – the current head of Sony’s Electronics division – will succeed him. The move is effective from April 1. “Three years ago, I started to work with the Board on succession plans, and in February, 2009 we named a new generation of leaders to be my management team. Among them was […]

RIM co-CEOs step down, new leader vows to overturn fortunes

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A shocking development in Research in Motion as co-CEOs Mike Lazaridis and Jim Balsillie have step down. They have been replaced by Chief Operating Officer Thorsten Heins, and he promises to silence those who predicted the end of RIM. News broke via the Wall Street Journal, quoting a company insider. RIM has not made it official, as it was planning to announce their resignations early tomorrow. Both men remain in […]

Kodak files for bankruptcy – now who will buy its patents?

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Kodak has announced that it and all of its subsidies have filed for Chapter 11 bankruptcy protection, in a move to restructure the company “to focus on its most valuable business lines” after years of ignoring the rise of digital cameras. “Kodak is taking a significant step toward enabling our enterprise to complete its transformation,” Antonio M. Perez, CEO of Kodak, said in a statement. “After considering the advantages of […]

Jerry Yang resigns from Yahoo, cuts all ties – is someone buying Yahoo?

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Jerry Yang has announced he will resign from Yahoo’s Board of Directors and all other positions within the company and its subsidiaries, effective immediately. The news is highly surprising, and speculation is rising that Yahoo could be bought out. “My time at Yahoo!, from its founding to the present, has encompassed some of the most exciting and rewarding experiences of my life. However, the time has come for me to […]

Could RIM say goodbye to co-CEOs Lazaridis and Balsillie?

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2011 for RIM was a horrible year – outages, a lackluster reception to their tablet and phones for its upcoming BlackBerry 10 OS delayed till the middle of this year. Now, speculation is heating up over a plan to oust the two worst CEOs of all time from the company. According to the National Post, a review by the company’s independent directors could see current co-chairmen and CEOs Mike Lazaridis […]

Yahoo has a new CEO – pinches current PayPal boss

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Yahoo has found a new CEO. After unceremoniously dumping previous CEO Carol Bartz, hired in order to salvage the company, it has now brought in PayPal’s President Scott Thompson. Interim CEO Tim Morse, placed by the board during the search, will return to his role as chief financial officer in the company. Thompson has been tasked to focus on Yahoo’s “core business” – whatever that is – and to “reignite […]

RUMOUR MILL: Yahoo to consider selling $17bn Asian assets to stay afloat?

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Rumours are flying around, with many quoting anonymous sources claiming that Yahoo could be considering selling its stake in China’s Alibaba and its Japanese affiliate in order to stay afloat in the United States and maybe avoid seeking a sale to private equity firms. The company owns 40 percent in Alibaba since 2005, and owns 35 percent in Yahoo Japan. Alibaba is China’s largest e-commerce site, while its Japanese portal […]

REPORT: Gowalla acquired by Facebook

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UPDATE: Gowalla, a location-sharing site that competes with Foursquare, is being reported to have been acquired by Facebook for an undisclosed amount of money. Citing “a source close to Gowalla”, CNN Money is reporting that most of the employees will move to Facebook’s Palo Alto office, while some will continue to work in its Austin office. Those moving to Facebook HQ will be helping them with their Timeline design, which […]

WSJ: Facebook to launch IPO between April and June

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Image: Tom Solari/TECHGEEK.com.au Social networking giant Facebook could launch its initial public offering of its stock somewhere between April and June of next year. This is according to a new report by the Wall Street Journal, who cites “people familiar with the matter” as their source. The paper notes that the company is seeking to raise US$10 billion in the IPO. In doing that, it could raise its market value […]

Is Microsoft looking to make another attempt to buy Yahoo?

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Microsoft is looking at Yahoo’s financial statements after it signed a non-disclosure agreement, according to the New York Times. However, is this a sign of a possible acquisition of Yahoo again, failing to do so in 2008? The New York Times also points that other potential bidders for the company like Silver Lake and TPG Capital, both private equity firms, have also have access to Yahoo’s books. In addition, Microsoft […]

Sony to acquire Ericsson’s 50% share in Sony Ericsson for US$1.47bn

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After rumours hinting at the deal, Swedish telecommunications company Ericsson is pulling out of the Sony Ericsson joint venture formed ten years ago with Sony. Sony is to acquire its 50% stake in the company in a deal worth EUR1.05 billion (US$1.47 billion/AU$1.40 billion). The deal is expected to close in January 2012, subject to regulatory and shareholder approval. According to Ericsson’s press release, the deal will give Sony “an […]

Yahoo’s Jerry Yang leaked memo confirms Yahoo is for sale?

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The troubles in Yahoo don’t end. Jerry Yang, who told its employees that it will not sell Yahoo after firing its then-CEO Carol Bartz, has confirmed in a memo that the company has looked to advisors to help facilitate a deal to buyout the fledgling company. In a leaked memo obtained by Business Insider, the company has hired investment bank Allen & Company to handle “fielding inquiries from multiple parties […]

Carol Bartz fired as Yahoo CEO over the phone

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Carol Bartz, the now former CEO of Yahoo (Image: Yahoo) Yahoo’s CEO Carol Bartz, who took over three years ago from founder Jerry Yang, has been sacked “effective immediatelty”¬†as the company continues to struggle from rivals Google, Microsoft’s Bing and AOL. Bartz was made CEO in 2009 after Yang’s poor handling of a substantial bid from Microsoft – believing it was too low. She will be replaced by Chief Financial […]

Dell acquires Force10 Networks

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Today Dell has announced that they have acquired Force10 Networks who currently manufacture datacenter grade networking hardware. Dell’s main force behind the purchase is to start manufacturing networking hardware themselves. Additionally, Dell’s move into networking is to put pressure on Cisco, since they have announced that 6,500 jobs will be lost. So look out for Dell branded networking products. Check out the full press release after the break.

Report: Facebook preparing for IPO in 2012, worth $100 billion?

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Image: Tom Solari/TECHGEEK.com.au Facebook could be preparing for an IPO in the first quarter of 2012, with some sources saying that its IPO could be valued at a massive $100 billion. With that value, it could be the largest IPO – topping Google’s $23 billion IPO in 2004. The main motivation, according to CNBC, is said to be that Facebook would be reaching more than 500 investors, therefore triggering a […]