FRAMINGHAM (06/23/2000) - Digital Island Inc. has partnered with Compaq Computer Corp., Intel Corp. and Microsoft Corp. to expand its streaming media network by 8,000 servers over the next two years. The three companies will invest US$45 million to enhance San Francisco-based Digital Island's infrastructure, using Compaq servers with Intel chips. Investment details weren't disclosed, but Compaq will add $50 million to finance leasing of the new hardware.
Ailing Canadian software company Corel Corp. this week reported its financial results for the three-month period ended May 31, confirming a net loss of $23.6 million on revenue of $36.6 million. Corel said it expects the next quarter's results to be similar. The firm is finalizing a cost restructuring plan designed to save $40 million. Officials emphasized the need to "secure additional equity or debt financing immediately and to effect a significant cost reduction plan in the near future."
Struggling Washington-based data analysis software vendor MicroStrategy Inc. this week said it has received $125 million in new financing. ...
Netherlands-based Philips Semiconductors announced an agreement to acquire IBM Corp.'s MiCrus Semiconductor operation. The U.S. plant produces up to 250,000 8-in. wafers per year. ... Intel will take a charge of about $200 million in its second financial quarter to cover the remaining costs of a program to replace faulty motherboards. ... Tokyo-based Hitachi Ltd. and IBM are set to begin negotiations to form a strategic alliance that would see the competitors collaborate in the areas of development, manufacturing and purchasing. ...
Oracle Corp. announced strong results for its fiscal 2000 fourth quarter, which ended May 31. Compared with last year's fourth quarter, net income increased 76 percent to $926 million, and revenue grew from $2.9 billion to $3.4 billion.
Application software sales increased 61 percent, while database sales increased 12 percent and consulting and support revenue grew 7 percent.