Novell Investigates Stock-Option Plan
Novell Inc. has begun to investigate how the company granted stock options to employees in recent years and to assess whether earnings will have to be restated. The Linux vendor made the announcement when it reported its preliminary third-quarter results. Novell's internal review comes as the U.S. Securities and Exchange Commission widens a probe into fraudulent stock-option practices at U.S. firms.
Sun Links Storage Service Business
Sun Microsystems Inc. has combined its service offering with that of Storage Technology Corp., the storage vendor it acquired a year ago for $4.1 billion. The Sun StorageTek Service Plans combine Sun's SunSpectrum and StorageTek's TekCare support programs. The new plan allows StorageTek customers to access Sun's eLearning Library along with the StorageTek knowledge base for product support.
Corel Pays $196M For Multimedia Firm
Corel Corp. has agreed to purchase multimedia software maker InterVideo Inc. for $196 million in cash. The move is Corel's second acquisition this year, as it looks to extend its product lines with video-based and multi¿media offerings. It purchased WinZip in May. Corel's primary product lines are now CorelDraw, Paint Shop Pro and WordPerfect.
Intel Unveils Merom Chip for Notebooks
Intel Corp. announced its Merom notebook chip, which will run new models from Dell Inc., Gateway Inc. and Toshiba America Inc. Merom is the third product launched in recent months in Intel's new line of dual-core, 65-nanometer processor chips built with the Core 2 Duo architecture. The company launched its Woodcrest Xeon 5100 chip for servers in June and its Conroe Core 2 Duo chip for desktops in July.