Thanks CC.SO for this one. Hitachi has agreed to pay $2.05 billion for IBM's hard-drive operations and to move them into a company under the control of the Japanese electronics giant, the companies said on Monday.
The two companies announced in April that they would collaborate in data-storage systems and form a joint venture for hard drives, a troubled business segment for IBM recently.
Hitachi will initially own 70 percent of the new company, which will be based in San Jose, Calif., and will take over full ownership in three years after a series of fixed payments to IBM.
Hitachi estimates that the new company, which will employ some 24,000 staff at 11 locations around the world, will deliver sales of about $5 billion in fiscal year 2003 with a target on revenue of $7 billion by fiscal 2006.
Disk drives, similar to other components for computers, have experienced slack demand and sharply reduced pricing in the past year. While IBM claims to have invented the disk drive, industry watchers have said the company has lost money in the business in recent years
News source: C|Net News.com
The two companies announced in April that they would collaborate in data-storage systems and form a joint venture for hard drives, a troubled business segment for IBM recently.
Hitachi will initially own 70 percent of the new company, which will be based in San Jose, Calif., and will take over full ownership in three years after a series of fixed payments to IBM.
Hitachi estimates that the new company, which will employ some 24,000 staff at 11 locations around the world, will deliver sales of about $5 billion in fiscal year 2003 with a target on revenue of $7 billion by fiscal 2006.
Disk drives, similar to other components for computers, have experienced slack demand and sharply reduced pricing in the past year. While IBM claims to have invented the disk drive, industry watchers have said the company has lost money in the business in recent years
News source: C|Net News.com
Cox spokeswoman Amy Cohn said the company has discovered some instances in which high-speed Internet customers are stealing cable TV channels, but she couldn't specify a number. As a preventive measure, she said, the company installs traps on cable modem lines to prevent Internet customers from accessing video signals through cable TV. "We're currently auditing our networks to identify situations where traps may be needed and are installing the appropriate equipment to prevent this theft from occurring," Cohn said.
AT&T Broadband on the other hand try to stop piracy by going from neighborhood to neighborhood and performing a tap audit, which allows it to detect all manner of cable theft. The tap audit lets the operator evaluate services piped into the home to see if any are not being paid for. They also say that cable theft typically degrades signals to both the computer and the television, not to mention neighboring connections.
"The drops are not designed to be split," said Tracy Baumgartner, an AT&T Broadband spokeswoman. "The Internet product needs a dedicated feed so that it runs as efficiently as it's supposed to."
But cable subscriber Noah said his TV reception and Net connection come up without a hitch, even with splitting the signal that goes to his cable modem!
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