Enterprise software developer Hummingbird Ltd. said today that it agreed to be purchased by holding company Symphony Technology Group in a deal valued at US$465 million. The Toronto company develops enterprise content management (ECM) software that helps organizations manage documents, records, correspondence and contracts.
IBM Tuesday announced a new mainframe, the z9 -- which it says is twice as powerful as the model it replaces -- as well as improvements to its enterprisewide virtualization systems. At one time, a new mainframe announcement by IBM would have focused primarily on performance gains. But citing a rash of data thefts and losses over the past year at a number of companies, IBM emphasized new data security capabilities on the z9.
Citing overcapacity for processing online trading orders in light of the recent stock market sell-off, Charles Schwab & Co. Inc. yesterday announced plans for major job cuts amounting to 11 percent to 13 percent of its workforce.