Colin C. Haley

Breakaway Solutions , a Boston Internet consulting firm, will lay off 20 percent of its workforce, to try and ride out the storm that has swamped many in its sector. The move comes three months after the company slashed 10 percent of its staff. The new cuts, expected to save $10 million annually, come as […]

NaviSite narrowly beat Wall Street’s first-quarter estimates but warned that second-quarter figures would fall short, sending shares of the Web and application hosting company tumbling. At midday, the stock was down 1.25, or 24 percent, to 4.062. NaviSite’s parent, CMGI was off 0.625, or 5 percent, to 11.25. Both are based in Andover, Mass. In […]

iBasis (NASDAQ:IBAS), a Burlington, Mass., Internet telephony company, is acquiring PriceInteractive, a Reston, Va., speech recognition specialist, for $100 million in cash and stock. The move bolsters iBasis’ service offerings to large business customers as well as its bottom line. With gains from PriceInteractive, iBasis expects to be profitable in the second quarter of 2002, […]

To cut costs and lessen its dependence on dot-com clients, Viant will lay off 125 employees, about 17 percent of its workforce, and close its Dallas office. The Boston Internet consulting firm will take a charge of between $5 million and $7 million against fourth-quarter earnings to pay for severance packages. The moves should save […]

ThingWorld, a Watertown, Mass., company that helps sports, entertainment and media businesses distribute digital content to build online marketing campaigns, is laying off 35 employees — 70 percent of its workforce — and is in discussions to sell its technology to unnamed partners. The majority of cuts will take place at the company’s headquarters. Privately […]

CMGI, the Andover, Mass., Internet holding company, will sell or shut down two majority owned operating companies — iCast and 1stUp.com — as part of an ongoing restructuring. “It’s painful to go through but I think it’s best for the company and it saves cash for larger, faster-growing companies,” David Wetherell, CMGI’s chairman and CEO, […]

Furniture.com, the Framingham, Mass., Internet retailer, has permanently shelved its business plan and laid off 76 of its 88 employees. “The 12 remaining employees will ensure the professional management of matters relating to the closure, including the review of available options for sale of the company’s assets,” the company said in a statement issued this […]

Looking to extend its industry lead in a fast-growing segment of the data storage market, EMC , of Hopkinton, has acquired privately held CrosStor Software for $300 million in stock. CrosStor makes high-performance software for networked storage systems. The company is located in South Plainfield, N.J., and employs about 100 people. It will remain in […]

While CMGI has consolidated operations at several of its operating companies, it will not tamper with

Xevo, Marlborough supplier of management software and services for application service providers (ASPs), has raised $20 million in second-round financing for product development and hiring staff. “This sets us in really good shape,” said Rick Hronicek, Xevo’s CEO. “At some point next year we’ll be looking at a third round.” Xevo will use the money […]

CMGI Inc. , a bellweather Internet stock that has been bruised since April, reported fourth-quarter results that beat Wall Street estimates. Chairman and CEO David Wetherell also said five of the company’s six business segments should be profitable by next year. The Andover, Mass., holding company posted a net loss of $633.7 million, or $2.17 […]

Tom Pincince tried retirement once — didn’t like it. “There was no one to play with,” said Pincince, founder of New Oak Communications, a maker of virtual private network switches that was bought by Bay Networks (now Nortel) for $106 million in 1998. “When you’re 35 years old, everyone else is working during the day. […]