IN THE PAPERS
In The Papers 4 November
PFH acquires Redstone Technology | AOL revenue drops, profit jumps
The Irish Times reports that a research team in University of Arizona, Tucson, have found a way to capture three-dimensional images in one location and then recreate the images at another in full 3D, with almost no time delay. The team says this is the first example of “3D telepresence” being achieved in real time. Prof Peyghambarian, who led the team, believes the technique will have uses in telemedicine, advertising, updatable 3D maps and entertainment.
The Irish Independent says that real-time information signs will be put in place at bus stops across the capital from next month. The signs will display bus arrival times and service updates. The National Transport Authority (NTA) said at least 450 signs will be in place by March, and the system will also be rolled out to Cork, Galway, Limerick and Waterford next year and into 2012.
According to the Irish Examiner, Irish IT firm PFH Technology Group has acquired Redstone Technology for EUR2.5 million from its British parent company, Redstone. Redstone provides enterprise storage and server solutions to blue chip public and private sector clients in Ireland. The enlarged business will have annual revenues in excess of EUR55 million and will employ 235 people.
The Financial Times reports that AOL revenue in the third quarter fell 26 percent to USD563.5 million, compared to USD763.9 million in the same period a year ago. The internet firm said revenues were hit by a 27 percent drop in advertising sales and a 26 percent fall in subscription revenues. In spite of the revenue slump, net income jumped 132 percent to USD171.6 million, or USD1.60 a share, from USD74 million, or USD0.70 per share, a year ago, as it sold off assets such as ICQ and Bebo.
The paper also writes that SAP has agreed to pay its rival Oracle USD120 million in return for it not pursuing punitive damages in the bitter legal fight between the two software groups. The German company still faces a claim of USD2 billion in actual damages over the admitted case of copyright infringement, though this week it argued in court that it should pay only the USD42 million in damages it estimated its US rival suffered because of the offence. News of the payment emerged on Wednesday, a day after opening statements in the trial.
In more news of the SAP/Oracle trial, the Wall Street Journal reports that Hewlett-Packard has refused to accept a subpoena requiring its chief executive, Leo Apotheker, to testify against his former employer, SAP, according to a statement released by Oracle. "Mr. Apotheker started work for HP on Monday, but it now appears that the HP board of directors has decided to keep him away from HP's headquarters and outside the court's jurisdiction. We will continue to try to serve him," said an Oracle spokesperson. HP declined to comment on Apotheker's whereabouts, and called Oracle's efforts to subpoena him "no more than an effort to harass him and interfere with his duties and responsibilities as HP's CEO." The trial continues.
The paper also says that Facebook has launched a new mobile service called Deals, which allows local merchants to offer promotional deals to customers who use Facebook's Places feature on their phones to "check in" at those locations. GAP has already signed on as a Deals partner and Facebook said Starbucks, McDonald's and Macy's will also be offering deals. The move could help the social network become a bigger player in the growing business of providing local information and advertising.