News Briefs

J.P. Morgan, IBM in Outsourcing Talks

J.P. Morgan Chase & Co. is negotiating exclusively with IBM on a seven-year IT outsourcing agreement worth more than $5 billion, according to sources close to the deal. A contract is expected to be finalized in the next few months, they said. A spokesman for New York-based J.P. Morgan Chase declined to comment. IBM had been competing with Electronic Data Systems Corp. for the deal .

Dell Reports Sales, Profit Jumps for Q3

Dell Computer Corp. continued to buck the trend of poor financial results for IT vendors, reporting a profit of $561 million for its third quarter. That was up 31% from $429 million in the same period last year. Revenue rose 22% to $9.1 billion in the third quarter, which ended Nov. 1. CEO Michael Dell said he expects fourth-quarter revenue to increase about 20% year over year.

Intel Releases Chip With Hyperthreading

Intel Corp. launched a high-end Pentium 4 microprocessor that runs at 3.06 GHz and includes new hyperthreading technology designed to let PC users run multiple applications at the same time. The feature can boost the performance of desktop PCs by up to 25%, Intel said. Vendors such as Dell and Hewlett-Packard Co. announced plans to offer the chip in their systems.

Short Takes

IBM next month plans to ship a WebSphere application server software release for users with up to 1,000 employees. ... Sunnyvale, Calif.-based Verity Inc. agreed to buy Foster City, Calif.-based Inktomi Corp.'s corporate Internet search engine software unit for $25 million in cash.

Copyright © 2002 IDG Communications, Inc.

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