Juniper Plans $900 Million in Charges for Past Stock-Compensation Probems

Juniper Networks announced that its internal Audit Committee has concluded that numerous stock option grants issued in the past differ from the recorded grant dates of such awards. Specifically, it was determined that there were numerous instances in which grant dates were chosen with the benefit of hindsight as to the price of the Company's stock, so as to give favorable prices. Blame was attributed to certain management members who are no longer with the company.Therefore, Juniper currently anticipates that it will record additional non-cash...

Read More

AT&T Launches U-verse TV in SF Bay Area

AT&T announced the initial launch of its U-verse TV service in parts of the San Francisco Bay area, including parts of the cities of Cupertino and Saratoga, and parts of the cities of San Ramon and Danville. AT&T said it now expects to launch U-verse in eleven markets by the end of the year, with plans to launch in additional markets in early 2007.AT&T U-verse is offering:more than 300 channels, including digital music, local, and premium...

Read More

Seagate to Acquire EVault for Online Backup Service

Seagate Technology agreed to acquire privately-held EVault, which provides online backup services, as part of its effort to extend the company's storage solutions and strengthen its Seagate Services group. The all-cash deal was valued at approximately $185 million.EVault was founded in 1997 and is based in Emeryville, California. The company has over 250 employees and claims more than 8,500 customers, including hundreds of financial, health care...

Read More

Motorola To Acquire Tut Systems for $39 Million

Motorola agreed to acquire Tut Systems for $1.15 per share in cash, giving the transaction a value of approximately $39 million on a fully-diluted basis.Tut Systems provides carrier-class end-to-end digital video encoding, processing and distribution products. Their solutions support MPEG-2 and MPEG- 4 AVC video compression, local ad insertion, forward error correction, and real-time conditioning of video and audio. Tut Systems' customer list includes more than 160 service providers worldwide.Tut Systems' "Astria" content processor (CP)is an IPTV...

Read More

UTStarcom's CTO Resigns to Take Post at China Mobile

UTStarcom announced the resignation of Executive Vice President and Chief Technology Officer Bill Huang, who will take a senior executive position at China Mobile Ltd. On an interim basis, Pat Chan, senior vice president of UTStarcom's Network Solutions business unit, will assume Huang's responsibilities as acting chief technology officer.http://www.utstar....

Read More

DIRECTV Awards Data Networking Contract Extension to AT&T

DIRECTV will continue its current contract with AT&T for OneNet services for an additional year at a value of $33 million. AT&T will continue to provide DIRECTV with toll-free 800, Advanced Features and ATM and Frame Relay services that support 18 call centers and approximately 60 corporate WAN points of presence. AT&T will also begin to provide MPLS connectivity for supporting DIRECTV's corporate VoIP traffic.http://www.att.comhttp://www.directv....

Read More