Tibco to buy Staffware

The sell-off of PanAmSat to KKR in a $4.3bn deal, the proposed acquisition of Staffware by Tibco Software and the resignation of Sanjay Kumar CEO of Computer Associates dominated the international world of IT and telecommunications last week.

At home, the discussions between Reunert and CS Holdings and the various local financial results stole much of the local ICT headline space.

* We saw satisfactory year-end figures from IST (revenue and profit both up);

* very poor annual results from Jasco Electronics (revenue down but income down over 95%);

* good interim numbers from EOH (revenue well up and profit also up);

* and a revised trading update from Altron.

Other local news included:

* the ranking of Telkom`s IPO as 4^th in the list of the 25 largest deals by companies from developing countries;

* a 91.81% take-up of the Global Technology rights issue;

* a possible offer for the purchase of additional CS Holdings shares by Reunert;

* a rift between Dimension Data and Choice Technologies;

* the purchase of Quartet by BEE group, Tactical Software Systems;

* the 26% investment by Moshebi Investments in Smartsource Corporate Training.

New local distributorships included that of Asus components by Axiz, Motorola`s Canopy wireless broadband products and accessories by Westcon Group and TEAC optical drives by Esquire Technologies; while the AST Group has been appointed by Wincor Nixdorf International as its Service Partner for Banking Systems in Southern Africa.

* We saw the termination of the proposed merger between Synopsys and Monolithic System Technology;

* the establishment of Hangzhou Samsung Eastcom Network Technology, a joint venture between Samsung and Eastern Comms, for the development of WCDMA systems;

* the emergence by MCI from Chapter 11 protection;

* the name changes of Network Associates to McAfee after its disposal of its Sniffer network management division and YP.Net Inc. to YP Corp;

* an international strategic partnership announced between Siebel Systems and Teradata for analytic applications and enterprise business intelligence;

* Cegetel and Neuf ended their merger talks.

Additionally, look out for the winner in the succession battle between NTT and DoCoMo for the president of the latter; and the IPO announcement from Google.

Other international news included:

Other international news included the appointments of Richard Bergmann as President and CEO of Avexus, Kenneth Cron as interim CEO of Computer Associates, Stephen Delaney as CEO of Celestica, David Heard as CEO and President of Somera Comms, Jean-Louis Malinge as CEO of Kotura, Lewis Ranieri as Chairman of Computer Associates and David Vaughn as Chairman of NovAtel; the resignation of Sanjay Kumar Chairman and CEO of Computer Associates; and job loss announcements from Celestica and PwC,

On the results front, we saw excellent* figures from Aetrium (back in the black0, Ascential Software (back in the black), Ask Jeeves, Broadcom (back in the black), Click Commerce (back in the black), Cognizant Technology, Communication Intelligence (back in the black), eBay, Encore Wire (back in the black), eResearch Technology, First Advantage, ISSI (back in the black), MCT (back in the black), MKS Instruments (back in the black), Open Solutions, PDSi, Sierra Wireless, SigmaTel (back in the black), Sirenza Microdevices, Sony Ericsson (back in the black), SST (back in the black), Sypris Solutions and Tessco.

With many of the first quarter`s financial results already published, the return to profitability is very noticeable.

Paul Booth, MD, Global Research Partners

Very good* numbers ame from Aladdin Knowledge Systems, All American Semiconductor, Alliance Semiconductor (back in the black), Amazon.com, Amdocs, Arrow Electronics, ASML Holding NV (back in the black), Atmel (back in the black), ATMI (back in the black), Brooks Automation (back in the black), Captiva Software, Computer Access Technology (back in the black), Cymer (back in the black), Datawatch (back in the black), Digital Insight, Digital River, Epicor Software, F5 Networks, Fiserv, Hyperion, iPass, j2 Global Comms, Juniper Networks, KLA-Tencor, Laserscope, Metrologic Instruments, MIND CTI, MIPS Technologies (back in the black), Motorola, Navigant Consulting, Nextel Comms, Omtool (back in the black), Packeteer, Pervasive Software, Pixelworks, Plexus (back in the black), Polycom (back in the black), RadiSys (back in the black), RADVision, Retek (back in the black), Ramtron (back in the black), Satyam Computer Services, ScanSource, Scientific Games, SpectraLink, SupportSoft, Synaptics, Tekelec, Teradyne (back in the black), Tessera Technologies, Trend Micro, Vanco, Virage logic (back in the black), VISX, WebEx Comms, West, Witness Systems, Xilinx and Yahoo Japan.

Good figures* were recorded by 3M, Altera, Amphenol, Aprisma Management Technologies, ARM Holdings, Artesyn (back in the black), Avocent, Belden (back in the black), Boston Comms Group, C-COR.net (back in the black), CACI, Calian Technology, Celestica (back in the black), Checkpoint Systems, Cohu (back in the black), Corning (back in the black), CTS, Diebold, Dionex, DSP Group, Eastman Kodak, EFI, EmailLabs, Embarcadero Technologies, Eschelon Telecom, Exar, Exponent, FileNet, First Data, Getty Images, Honeywell, Hummingbird, IDT (back in the black), II-IV, Ikonics, Infineon (back in the black), Informatica, Information Holdings, Inforte, Integrated Circuit Systems, Interlink Electronics, Interphase (back in the black), Intersil, Intrado, Ixia, Lexmark, LG Electronics, Manhattan Associates, MapInfo (back in the black), Micrel, Microchip Technology, MPS Group, NetSolve (back in the black), Power Integrations, Rimage, RSA Security, Sanmina-SCI, Scientific-Atlanta, SeeBeyond, SS&C Technologies, SunGard, Synplicity, Technitrol, Tellabs (back in the black), TetraTech, Tollgate Comms, Trident Microsystems (back in the black), Ultratech (back in the black), Vasco, Veritas Software and Xicor (back in the black); and satisfactory* ones by ACS, Alliance Gaming, AsiaInfo (back in the black), Avatar Systems, BellSouth, CCC Information Services Group, Ceva (back in the black), CheckFree (back in the black), Chordiant Software, CSI, DigitalNet, Entrust (back in the black), Equifax, Ericsson (back in the black), Fargo Electronics, GVI Security Solutions, Harte-Hanks, ICT Group (back in the black), Inet Technologies, Inmarsat, Insight Entertainment, Key Technology, Mercury Interactive, Network Engines (back in the black), Overland Storage, PEC Solutions, Qualcomm, RadioShack, SAP, Storage Technologies, Sybase, Syntel, Telmex, TietoEnator, Xerox (back in the black), YDI Wireless and ZiLOG.

Mediocre* returns came from ADP, Alltel, AT&T, Autonomy, BackWeb Technologies, Benchmark Electronics, Bisys, Cabot Microelectronics, CDI, Check Point Software Technologies, ChoicePoint, Cingular Wireless, Citrix Systems, Compal, Computer Programs & Systems, Convergys, Data I/O, Edgewater Technology, Hutchison Technology, ILOG, Interactive Intelligence, Internet Security Systems, InVision Technologies, Lucent Technologies, Mattson Technology (but back in the black), Maxtor, Mentor Graphics, Microsoft, MTS, Optibase (but back in the black), PC Connection, PeopleSoft, Persistence Software (but back in the black), PTC (but back in the black), SBC Comms, Seagate Technology, Snap-on, Sprint, STMicroelectronics, Valassis Comms, VeriSign (but back in the black), Western Digital and WJ Comms (but back in the black); while very poor results* came from Apropos Technology (but back in the black), Borland Software (but back in the black), Brooktrout (but back in the black), Chartered Semiconductor (but back in the black), Innovex (but back in the black) and Socket Comms (but back in the black), TriQuint Semiconductor (back in the black-just).

Losses* came from Adept Technology, Advent Software, APAC Customer Services, Applied Innovation, Applied Micro Circuits, Arris, AT&T Wireless, ATG, Avistar Comms, Blue Martini Software, AudioCodes, Avici Systems, BSQUARE, BroadVision, Cadence Design Systems, Callidus Software, Carrier Access, Concurrent Computer, Copper Mountain Networks, CoStar Group, CTG, Daleen, Digital Lightwave, DPAC Technologies, EarthLink, Ementor, eMerge Interactive, Epic Data, Equinix, Evans & Sutherland, Fiberstars, First Consulting Group, Genus, GlobalNet, Hifn, i2 Technologies, Ibis Technology, Interwoven, Intevac, Iomega, ITXC, JDA Software, Kana, Lattice Semiconductor, Metro One Telecomms, Micro Linear, MRV Comms, Nanophase Technologies, Neoforma, Netopia, New Horizons, NexPrise, Nuance, OneSource, Oplink, Orckit Comms, Paradyne Networks, PDF Solutions, Peak International, Pericom Semiconductor, Phoenix Technologies, Pinnacle Systems, Power-One, Powerwave Technologies, QuickLogic, Radcom, Rogers Comms, Rogers Wireless, Sento, SGI, Silicom, Silicon Image, Somera Comms, SonicWALL, Sorrento Networks, Stamps.com, Sunrise Telecom, Superscape, TippingPoint Technologies, TNS, Tripath Technologies, Vastera, Vicor, Visual Networks, Vitesse Semiconductor, Vitria, WatchGuard Technologies and Zhone Technologies.

Other financial news

Other financial news included analyst upgrades for ADP, Alltel, Altera, Amdocs, Amphenol, Corning, Digital River, E.piphany, Fiserv, Foundry Networks, Juniper Networks, Molex, SBC, Skyworks Solutions and SunGard Data; analyst downgrades for Ascential Software, BroadVision, Captiva Software, Maxtor, Seagate Technology and Western Digital; a private placement of shares by WorldGate; a share offering from Accenture; private funding obtained for Meru Networks and Ubicom; share buy-back announcements from EarthLink, eResearch Technology, Microchip Technology and Monolithic System Technology; positive results/profit warnings from AirNet Comms, M-Systems and Sonix Technology; negative results/profit warnings (often veiled) from Fujitsu and Sony; share split announcements from eResearch Technology (3:2) and National Semiconductor (2:1); planned IPOs from Harbour Networks (Hong Kong) LG Philips, Multi-Fineline Electronix (Nasdaq), Navteq (Nasdaq) and Ventiva (UK ALT); IPOs filings from Lindows and a very good IPO from Sirf Technology on Nasdaq.

Locally

AST (-24.4%)
CS Holdings (-28%)
Cycad (+100%)
Datacentrix (+16.8%)
FrontRange (+11.4%)
Global Technology (-33.3%)
Labat Africa (-10.7%)
Sethold (-24.2%)
Vesta (-25%)
Y3K (+50%)

Internationally

All American Semiconductor (+75%)
BroadVision (-25.3%)
DA Consulting Group (-65%)
Daisytek (+80%)
Digital Lightwave (-54.1%)
enherent (+31.9%)
Leap Wireless (-30.7%)
Macro4 (+25.8%)
SONICblue (-27.8%)
Staffware (+37%)

In terms of indices, NASDAQ was up 2.7% and the JSE down 1.1% for the week.

It is encouraging to note that with many of the first quarter`s financial results already published, the return to profitability is very noticeable. I suspect (and hope) that this positive trend will continue during the year and that the industry will experience the growth that has been predicted and that the technology sector will not be the pariah it has been over the last couple of years or so.

* N.B.

'Guidelines` for the categorisation of results is as follows and is always in comparison with the equivalent period for the previous year; pro forma numbers are ignored (the terminology may vary slightly from country to country).

* Excellent: Both revenue and net income growth is in excess of 50%.
* Very Good: Both revenue and net income growth is in excess of 25%
* Good: Both revenue and net income growth is in excess of 10%.
* Satisfactory: Revenue is within 10% of previous year and net income is up.
* Mediocre: Either revenue and/or net income is down.
* Very poor: Net income is less than 1% of revenue.

* Loss: A loss has been recorded.