IN THE PAPERS
In The Papers 17 October
17-10-2008
by Sylvia Leatham
PollDaddy bought by Automattic | Google profit surges
The Irish Times reports on the final day of Maths Week, saying that 'mathemagician' Andrew Jeffrey will perform a show at Dublin City University on Friday that aims to enthuse schoolchildren about maths through the use of magic tricks.
The paper also reports that Dublin-based e-payments group Payzone has reached an out-of-court settlement with former chief executive John Nagle and former chief financial officer John Williamson. In a joint statement, the three parties said they were "happy to announce that they have settled amicably all outstanding disputes arising as a result of the removal of the two former directors". The statement said Nagle and Williamson would remain shareholders in the company. The details of the settlement were not disclosed, but Payzone said the "costs borne" as a result of the settlement had "already been provided for within the restructuring charge" announced at the time of its interim results statement for the six months ended 31 March.
The paper also says that the online and mobile channels will be the drivers of the entertainment and media industry, according to a new report from PricewaterhouseCoopers (PwC). The Entertainment and Media Report found that the rising value of online and mobile opportunities would dominate growth in almost every sector. The so-called net generation, defined as those born between 1977 and 1997, is seen as an "influencer", setting the pace and direction of change in the entertainment and media industry. Emerging sectors are also expected to play a key role in developing the industry, with Europe, the Middle East and Africa (EMEA) set to overtake the US as the biggest online advertising market by 2012.
The same paper notes that Silicon Valley investors will travel to Dublin next month for a match-making event with Irish technology start-ups. Among the high-profile venture capitalists who have agreed to meet Irish firms are VenRock and Kleiner Perkins Caufield Byers. Representatives of large US technology players, including Intel and Sling Media, will also attend the event, which is being organised by the Irish Technology Leadership Group (ITLG), an independent group of senior Irish or Irish-American technology executives. 'Silicon Valley Comes to Ireland 2008' will take place at Trinity College Dublin on 18 and 19 November, and more than 70 chief executives of Irish software, semiconductor, web and green technology start-ups have registered to attend.
The paper also reports that Siemens has completed an online visa application and tracking system for the Irish Naturalisation and Immigration Service (INIS). Developed using Microsoft's BizTalk Server software, the contract is understood to have been worth more than EUR3 million to Siemens. The system provides a website for potential visitors to Ireland to apply for a visa, and a back-end management interface for staff in the relevant embassy. The Automated Visa Application Tracking System (AVATS) is being used for approximately 70 percent of all visa applications.
The paper also notes that Nokia has posted a sharp fall in third-quarter profit, as reported by ENN on Thursday.
The paper also says that Sligo start-up PollDaddy has been acquired by Automattic, the company behind the WordPress blogging platform. Founded last year, PollDaddy allows bloggers and other website owners to host polls and surveys on their sites. The terms of the deal were not disclosed.
The Irish Independent says that schoolkids will be able to follow the Volvo Ocean Race and become a virtual spectator of life on board one of the sailing boats, thanks to a new programme. The Ocean Adventure Schools Programme will introduce Irish students to the technology, history and geography of sailing. Junior members of sailing clubs and other youth groups are also encouraged to sign up online at www.letsdoitschools.com.
The Irish Examiner reports that Dublin tech firm Xilinx's second-quarter profit fell 8.8 percent, while revenue rose 9 percent to USD483 million. Year-on-year operating income rose 32 percent to USD125 million. Xilinx employs 400 people at its European headquarters and R&D centre in Dublin.
According to the Wall Street Journal, Google has posted a 26 percent increase in profit and a 31 percent revenue jump for the third quarter. Google's shares surged more than 8 percent in after-hours trading as the results were not as bad as some had feared. But the earnings report also highlighted how the company is maturing: growth decelerated from the second quarter, when profit rose 35 percent and revenue climbed 39 percent. Google said the growth rate at which people click on its ads stayed relatively steady from the second quarter at 18 percent.
The paper also notes that Microsoft chief Steve Ballmer has signaled his openness to a deal with Yahoo, sending Yahoo shares up as much as 15 percent on the back of investor hopes that Microsoft's failed bid for the internet company might rematerialise. Ballmer, speaking at a technology conference in Orlando, said a deal with Yahoo "would make sense economically." He was referring to a hypothetical agreement to acquire Yahoo's search business, although some interpreted his comments to be about a full-blown acquisition. After the comments touched off a surge in Yahoo shares, Microsoft tried to play down its chief executive's comments. "Our position hasn't changed," a Microsoft spokesman said. "Microsoft has no interest in acquiring Yahoo. There are no discussions between the companies."
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