News Briefs

Venture capitalists loyal to high-tech

Despite a rocky year on Wall Street, venture capitalists still seem to be enamoured of technology companies, including the maligned dotcoms. From 1997 to 1999, venture capital investments rose from $US11.5 billion to $35.6 billion - a figure that was surpassed in just the first six months of this year, according to the Money Tree National Survey conducted by New York-based PricewaterhouseCoopers. Of those investments, technology companies received 95 per cent of all funding in the second quarter, though pure dotcoms accounted for only about 20 per cent of that amount, according to the survey.

Ex-Novell execs plan open-source NetWareA company led by former Novell executives said last week that it plans to build an open-source operating system that will be compatible with Novell's NetWare. Timpanogas Research Group in Utah said it hopes to offer its NetWare-compatible system to Novell customers in the second half of next year. The Metropolitan Area Network Operating System will be based on a software kernel similar to the one at the heart of Novell's NetWare SMP system, Timpanogas executives said.

Wireless jumps to $US73 billion

The size of the global market for small wireless Internet devices will grow from $US10 billion today to $73 billion by 2005, according to a study conducted by Strategy Analytics in Luton, England . . . Eight movie companies have won the first round in a court fight against the publishers of a hacking magazine that offered a free program that has the potential to decode and copy DVD movies. . . An International Chamber of Commerce-appointed arbitrator has ended a three-year dispute by granting Andersen Consulting in Chicago complete independence from financial obligations or future relationships with former parent companies Andersen Worldwide and Arthur Andersen LLP.

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