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October IT Industry News

This is my monthly very high level look at events in the ICT industry over the month of October. More details will be available at the Eagle website over the next day or two.

What was happening a year ago? In October 2006 there were no "blockbuster" M&A deals, although Oracle did pay $440 Million for Stellent and EMC paid $165 Million for Avamar. Both Oracle and EMC were active again in October 2007. Studies and reports released a year ago suggested that worker confidence was good, unemployment rates in Canada and the US were low and IT spending was relatively strong.

October 2007 was an interesting month in the M&A market with Oracle's failed (for now) attempt to buy BEA, who felt the price was too low. Microsoft also valued Facebook at $15 billion when it took a minority stake for $204 million. SAP paid $6.8 billion for Business Objects in the latest BI move ... is Cognos next? In what is a sure sign of convergence Nokia paid $8 billion for Navteq, a mapping software company. There were a lot of deals this month with IBM, Oracle, EMC, Google, Deloitte, Accenture, BT, McAfee, Adobe and others all active in the market.

Other than the M&A activity in October, a couple of surveys were interesting, Hudson show that IT workers are happier and more secure than ever and yet according to the US Conference Board CEO confidence is slipping. Bad news came to Canadian company NexInnovations which was forced to close its doors. Overall a busy M&A month, and not a lot of other technology news. The other big news in Canada was the Royalty Review in Alberta which targeted the Oil & Gas sector, which has been the driver of the hot Western economy for several years ... the impact on the tech sector will be felt for some time to come.