finance

 

Forsee Out as Sprint CEO

Gary Forsee, chairman and CEO of Sprint, resigned on Monday. The news came about a week after several media outlets cited anonymous sources who said the move was imminent. Forsee has come under fire from board members for Sprints ailing financials. Indeed, Sprint lowered its financial forecast for the current quarter, saying revenue would fall […]

Vonage Settles With Sprint

Vonage Holdings Corp. on Monday said it will settle its patent dispute with Sprint Nextel Corp. by paying $80 million and licensing the technology it was found guilty of illegally using. Vonage lost another patent infringement suit two weeks ago. The IP telephony company now says it’ll pay $35 million for past use of Sprint’s […]

Matisse Raises $45 Million to Expand Sales, Marketing of Its EtherBurst Optical Switch

Matisse Networks (Booth 626) closed a $45 million Series C financing round to expand the sales, marketing and development of the EtherBurst optical switch. Merrill Lynch PCG invested $35 million in the round, which included Menlo Ventures, Monitor Ventures, Walden International and Woodside Fund. Matisse Networks now has raised total financing of $80 million. “We […]

Sprint Stocks Down on Board, CEO Rumors

Sprint shares were down 27 cents during mid-day trading on Friday amid industry rumors that a stockholder wants to sit on the companys board and that CEO Gary Forsee could be on his way out. Relational Investors LLC owns about 1.9 percent of Sprints shares and has stated its concern this week about Sprints management […]

Rivermine and BBR Wireless Management Announce Merger

TEM provider Rivermine announced a merger with BBR Wireless Management. The companies said they merged to meet ongoing, high demand for unified wireline and wireless expense management solutions from global customers and channel partners. Coming together under the Rivermine name, the combined entity will have an installed base of more than 225 companies. “End-user organizations […]

AT&T To Acquire Conference-Provider Interwise

AT&T Inc. announced today that it has agreed, through one of its subsidiaries, to acquire privately held Interwise Inc., a leading global provider of voice, Web and video conferencing services to businesses. AT&T will pay approximately $121 million in cash for the company. The transaction, which is expected to close in the fourth quarter, strategically […]

Skype CEO Steps Down, eBay Takes Impairment Charge

eBay Inc. said Monday Skype co-founder and CEO Niklas Zennstrom has stepped down. Zennstrom helped found the Internet phone company in 2003 and will become executive chairman of its board. Michael van Swaaij, the companys chief strategy officer, will serve as CEO of Skype until it finds a permanent successor. eBay Inc. also said Monday […]

Ask Steve

What do SMBs Want? Ask Yankee Group analyst Steve Hilton. Send your questions to asksteve@yankeegroup.com. Please include your name, city, state and a phone number. Only first names and locations will be published. With apologies to the hip-hop trio Salt-N-Pepa, lets talk about debt, baby. On that lyrical note, this month in Ask Steve we […]

ColoTraq Debuts Referral Program

  ColoTraq, a telecom B2B marketplace pioneer, is launching a referral program wherein it will pay a percentage of monthly recurring fees for two years for any business closed from referrals to its telecom marketplace. There are no quotas or commitments, and the program is non-exclusive. The ColoTraq telecom marketplace offers connectivity, colocation, managed services […]

Lawsuit Has Little Impact on ShoreTel IPO

ShoreTel Inc.s ongoing legal tiff with rival Mitel Networks Corp. doesnt seem to have impacted its initial public offering (IPO). ShoreTel got $86.3 million from its debut July 9 and has since traded at prices between $9.80 and $15.01. The legal wrangling began just before ShoreTel embarked on its IPO. On June 27, Mitel slapped […]

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