Colin C. Haley

IBM has agreed to pay $300 million to settle most of the claims in a class action lawsuit related to its pension plan, the company announced today. Under the pact, plaintiffs are eligible for an incremental pension benefit worth $300 million (including attorneys’ fees). In exchange, they drop several claims and agree to cap damages […]

Juniper Networks said that Yahoo Brasil has deployed its M-series routers to lay the groundwork for new premium services. It’s the first time that Juniper gear has been installed in the portal’s network, the company said. The project was overseen by Brazilian systems integrator M13, which specializes in complex technological projects in data, voice, image […]

Amid rising use of online travel services, Cendant will pay $1.25 billion in cash for Orbitz , the companies confirmed this morning. The deal represents a 32 percent premium over Orbitz’s Tuesday closing price and is expected to close in November, pending regulatory approval. Once completed, the online travel business will become part of Cendant’s […]

Motorola said it would cut 1,000 jobs, a move prompted by the spinout of its Freescale Semiconductor subsidiary. The company expects to pay $50 million in severance from the beginning of the third quarter of 2004 through the first quarter of 2005 as part of the plan, which impacts about 1 percent of the company’s […]

Bank of America today became the second marquee company in as many weeks to choose Voice over IP as a way to cut costs and improve productivity. The bank plans to install 180,000 IP phones in 5,800 facilities in 29 states and Washington, D.C., over three years. Cisco will supply the phones and networking equipment […]

Cisco Systems has modified its Catalyst switching products to help small and medium-sized businesses deploy converged data, voice and video networks. The offerings, announced today, include entry-level extensions to the Cisco Catalyst 4500 Series of modular switches for integrated connectivity to servers, wireless access points, IP phones, printers or users. In addition, the company unveiled […]

Comcast and Time Warner are considering a joint offer for bankrupt Adelphia . Adelphia last week formally launched its sale process, entertaining bids on any or all of its seven clusters of cable systems. Bids for the nation’s fifth-largest cable company are expected by year’s end. Adelphia provides video and broadband Internet in 31 states […]

Cingular Wireless said it is selling its messaging technology unit to institutional investor Cerebrus Capital Management for an undisclosed sum. The deal includes network and IT systems, customer service operations and a majority of subscribers. The Cingular Interactive subsidiary provides wireless corporate e-mail and messaging through its Mobitex packet data service. The Mobitex network supports […]

Art Technology Group (ATG) is urging shareholders to approve the acquisition of Primus Knowledge Solutions, saying the merger will create an “e-business powerhouse.” Stockholders from each company will vote on the $30 million transaction in meetings Oct. 22. If approved, Primus shareholders will own approximately 30 percent of the combined company. The proposed deal would […]

Voice over IP specialist Net2Phone will replace its CEO and reduce the number of directors in a management restructuring announced today. Liore Alroy will take over the CEO job from Stephen Greenberg on Oct. 31. Alroy currently serves as an advisor to the executive team on behalf of IDT Corp. , Net2Phone’s controlling shareholder. Greenberg […]

Two major IT firms — network equipment developer Cisco and computer chipmaker AMD — announced separate investments in China today. The investments are the latest examples of U.S.-based companies looking to the country to find skilled labor, as well as an end-market for their products. Cisco has earmarked $32 million over the next five years […]

Verizon Wireless is launching its mobile broadband data service in 11 new cities on Monday. The BroadbandAccess offering is already available in Las Vegas, San Diego and Washington, D.C. “This expansion helps us expand our lead in the [business-to-business] space,” Denny Strigl, Verizon Wireless president and CEO, said during a conference call with reporters today. […]