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BUSINESS NEWS

12 Nov 07. IBM said on Monday that it would buy Canadian business intelligence software company Cognos for US$5bn, following a wave of acquisitions in the
industry. Investors had expected the deal, which represents a 9.5 per cent premium to Cognos’s closing US share price on Friday, after SAP’s offer for rival Business Objects in October and Oracle’s purchase of Hyperion Solutions earlier this year. All three targets make software that analyses businesses by combing through vast amounts of data. IBM said it had signed a definitive agreement to buy Cognos for $58 a share, compared with its Friday Nasdaq close of $52.98. The shares rose to $57 in pre-market trading on Monday. IBM said the all-cash deal was subject to shareholder approval and should close in the first quarter of 2008. SAP’s bid of €4.8bn ($6.8bn) for Business Objects had sparked speculation in the market that Cognos would become an acquisition target. It and MicroStrategy were seen as the most attractive takeover candidates in that space. Investors have long speculated that the most likely buyer for Ottawa-based Cognos is IBM because of their existing business partnership. (Source: FT.com)

07 Nov 07. Cisco Systems Inc (CSCO.O: Quote, Profile, Research) quarterly profit rose, helped by strong demand from telecommunications companies upgrading their systems to cope with growing Internet traffic. But Cisco shares fell about 4 percent in after-hours trade after closing down around 4 percent at $32.75 in the regular session. Cisco, which makes routers, switches and other equipment, said its fiscal fourth-quarter profit rose to $2.2bn, or 35 cents per share, from $1.6bn, or 26 cents per share, in the same period a year earlier.
Earnings excluding items rose to 40 cents per share in the quarter from 31 cents
a year earlier. Revenue, helped by its expansion into new products as well as emerging markets, rose 16.7 percent to $9.6bn. In August, the company forecast quarterly revenue of $9.45bn to $9.55bn. Analysts on average had forecast revenue of $9.5bn, according to Reuters Estimates. (Source: Reuters)

12 Nov 07. Raytheon has acquired the robotics technologies and capabilities of Sarcos. The Waltham, Mass.-based defense contractor (NYSE: RTN – News) said Salt Lake City -headquartered Sarcos researches and develops technologies in the advanced field of micro-electro mechanical systems.Terms of the transaction were not disclosed. “With Sarcos we are gaining world-renowned research and development capabilities in robotics technology, providing us with new capabilities to expand our position in this developing growth area,” said Dan Smith, president of Raytheon Integrated Defense Systems.

08 Nov 07. Siemens AG reported its first loss in six years because of costs to sell its automotive division and a penalty tied to a bribery investigation that has engulfed Siemens for a year. The net loss in the fourth quarter ended Sept. 30 was €74m ($108m), compared with a profit of 148 million euros a year earlier, Munich-based Siemens said today. Siemens booked a €1bn charge to sell a unit, and a €201m fine. Sales rose 9 percent to €20.2bn. Earnings excluding one-time costs beat analysts’ estimates as demand increased at the main factory automation, medical technology and power generation divisions. The company said today it aims to outpace global economic expansion next year. The quarter was Siemens’s first under Peter Loescher, who became chief executive officer in July to succeed Klaus Kleinfeld. (Source: Bloomberg)

07 Nov 07. Singapore Technologies Engineering third-quarter net profit rose 9.1 percent to 125.5m Singapore dollars from a year earlier on stronger marine and aerospace businesses. Revenue rose 6.6 percent to 1.24bn dollars For the nine months to September, net profit was up 14 percent to 357.1m dollars from a year ago on revenue of 3.75bn, up 16.2 percent. “The aerospace, electronics and land systems sectors recorded higher turnover an

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