This is my monthly very high level look at events in the ICT industry over the month of February … with a little commentary about 2007. More details will be available at the Eagle website over the next day or two.
A year ago in February 2007 there was plenty of M&A action and the big news was the Oracle purchase of Hyperion for $3.3 Billion. Google expanded into the ad world with its purchase of Adscape Media; Cisco expanded into social networking, buying Five Across Inc; and, Corel’s purchase of InterVideo took them into the video world. There was some other M&A activity but a year ago there were also some big layoffs with both Nortel (2,900 people) and Alcatel–Lucent (12,000) announcing layoffs in their ongoing attempts to fix their respective woes. IBM also announced significant employee growth in Asia.
In February 2008 we are seeing a little bit of back to the future with Nortel again announcing layoffs and IBM still creating jobs in Asia. There are however no blockbuster M&A deals to announce this month. Instead the prevailing news seems to centre around economic uncertainty, with both IDC and Forrester reducing their forecast for 2008 IT spending. While there were no huge deals there was a fair bit of M&A activity with Novell announcing a couple of buys including a $200 million deal for Toronto company Platespin. Other household names on the acquisition trail include Accenture, Microsoft, HP, Dell, IBM, Telus and Sun.