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Intel Sheds McAfee
Intel has sold the Intel Security business for $3.5bn less than it paid for it six years ago.
Intel Security, previously and better known as McAfee, has been sold to private equity firm TPG for $4.2bn, despite Intel paying $7.7bn for it in 2010.
The chip firm will receive $3.1bn in cash as part of the transaction and retain a 49 per cent minority stake. TPG will take control with a 51 per cent stake, and will invest $1.1bn in the company.
Intel Security is based on the McAfee business and was renamed two years ago. The company will revert to the better known McAfee brand, despite John McAfee reportedly suing Intel over the use of his name.
The transaction is expected to close in the second quarter of 2017, and Chris Young, general manager of Intel Security Group, will become CEO of McAfee.
Young described TPG in an open letter to stakeholders as a “seasoned technology investor” that was “attracted to our current momentum and long-term potential”.
He claimed that McAfee currently protects “more than a quarter of a billion endpoints” and more than 200 million consumers, and is present in two thirds of the world’s 2,000 largest companies.
Intel CEO Brian Krzanich claimed that, despite the sale, security “remains important in everything we do at Intel”.
“We will continue to integrate industry-leading security and privacy capabilities in our products from the cloud to billions of smart, connected computing devices,” he added.
Bryan Taylor, a partner at TPG, said that the company had “long identified the cyber security sector, which has experienced strong growth due to the increasing volume and severity of cyber attacks, as one of the most important areas in technology”.
Intel’s acquisition of McAfee Security in 2010 was intended to enable the company to beef up security around PCs and sell McAfee antivirus and other security software around its core business.
However, the combination never worked as the money to be made in the security business became increasingly focused on the data center and cloud computing.
Courtesy-TheInq
CVS Debuts CVS Pay
August 24, 2016 by admin
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CVS has rolled out its CVS Pay program that exists inside its mobile app. It allows customers to pay in store for prescriptions by scanning a barcode at the register.
Payments will be backed by a customer’s credit or debit card, the company said.
CVS Pay is currently available in New York, New Jersey, Pennsylvania and Delaware; a nationwide rollout at all 9,600 stores is expected to kick off later this year.
CVS doesn’t support Apple Pay or other NFC-based payment technologies, and its use of barcodes for payments is reminiscent of the way Starbucks customers pay for coffee. Working with the barcode technology was a faster way for CVS to bring forward technology for more convenient in-store payments, analysts said.
Other retailers have created in-store payments through their own apps. Walmart created Walmart Pay in December to allow payments through mobile device QR codes that can be read at checkout registers.
“There’s nothing really innovative here with CVS Pay,” said Gartner analyst Avivah Litan on Friday. “They are pretty much following the trend. It’s just mobile commerce with a credit card attached. It’s no big deal to put a credit card in a wallet.”
At one point, CVS was working with Walmart and dozens of other major retailers in the Merchant Customer Exchange, which was designed to process mobile payments electronically through bank accounts and not credit cards to cut out the card processing cost that merchants paid to banks. But MCX ended its pilot of its mobile app, CurrentC, in June. Analysts have predicted the concept will not continue.
Source-http://www.thegurureview.net/mobile-category/cvs-debuts-cvs-pay.html
NFC For ATM Transactions Catching On
August 3, 2016 by admin
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Several of the nation’s biggest banks in the U.S. now support the use of a smartphone to withdraw cash from an ATM — many by way of Near Field Communication (NFC) technology — instead of requiring customers to use a bank card.
One of the early adopters, Bank of America, said this week it currently supports cardless technology at 2,800 of its ATMs. That number will reach 8,000 ATMs by year’s end that rely on NFC and other technology. Bank of America, which has about 15,000 ATMs nationwide, created a video to show how a smartphone loaded with the bank’s mobile app can now withdraw cash from some ATMs.
Wells Fargo said it has a “handful” of ATMs that are NFC-ready and working to deliver cash and other transactions and is planning to reach 5,000 by the end of 2016. A total of 12,000 ATMs will be enabled in 2017.
JPMorgan Chase said it also will have many cardless ATMs available this year, but didn’t specify how many or when. Initially at Chase, customers will show up at an ATM and type in a numerical code they acquired wirelessly through use of the Chase smartphone app to get their cash. That numerical code verification process will be an early step in rolling out cardless technology at the bank’s nearly 15,000 ATMs.
In addition to using NFC or a numerical code to authenticate a transaction, some bank ATMs are expected to rely on scanning a QR code displayed on a phone.
The number of ATMs supporting cardless cash remains a small portion of the estimated 500,000 ATMs in the U.S. Crone Consulting, which monitors the mobile payment industry, recently said it expects about 95,000 ATMs in the U.S. to support cardless cash by year’s end.
Courtesy-http://www.thegurureview.net/mobile-category/nfc-for-atm-transactions-catching-on.html
Is Intel Going To Dump McAfee
Intel has run out of ideas about what it is going to do with it its security business and is apparently planning to flog it off.
Five years ago Intel bought McAfee for $7.7bn acquisition. Two years ago it re-branded it as Intel Security. There was talk about chip based security and how important this would be as the world moved to the Internet of Things.
Now the company has discussed the future of Intel Security with bankers, including potentially the outfit. The semiconductor company has been shifting its focus to higher-growth areas, such as chips for data center machines and Internet-connected devices, as the personal-computer market has declined.
The security sector has seen a lot of interest from private equity buyers. Symantec said earlier this month it was acquiring Web security provider Blue Coat for $4.65 billion in cash, in a deal that will see Silver Lake, an investor in Symantec, enhancing its investment in the merged company, and Bain Capital, majority shareholder in Blue Coat, reinvesting $750 million in the business through convertible notes.
However Intel’s move into the Internet of Things does make it difficult for it to exit the security business completely. In fact some analysts think it will only sell of part of the business and keep some key bits for itself.
Courtesy-Fud
Can The USPS Win At E-commerce?
January 8, 2015 by admin
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Dealing with a decline in the mail it has been delivering since the days of America’s Revolutionary War, in 2012 the U.S. Postal Service began aggressively targeting e-commerce and lapsed customers as the way to salvage its slumping business.
“Really it started almost at the level of cold-calling, talking to people who really hadn’t spoken to us in a long time,” said Nagisa Manabe, who joined the USPS in May 2012 as chief marketing and sales officer from Coca-Cola Co after a career in the private sector. “And really trying to persuade them to consider us as a very viable alternative in the shipping market.”
With further drops in its traditional bread-and-butter products ahead, the USPS wants to capitalize on e-commerce, which consulting firm Detroit LLP has predicted should grow 14 percent this holiday season alone. But industry experts question whether the USPS has enough space in its delivery vans and whether its unionized work force can handle a greater proportion of the e-commerce market.
Over the past two years the USPS has rolled out real-time scanning for packages, a vital tool for online retailers and consumers alike to track their packages. It is also upgrading all of its delivery workers’ handheld scanners.
The rise of the Internet has taken a heavy toll on first-class mail, the USPS’s most profitable product. That falling business played a significant role in the USPS’s fiscal 2014 loss of $5.5 billion, its eighth consecutive year in the red.
From 2009 to 2013, the volume of first-class mail deliveries dropped more than 20 percent. In the fiscal year ending Sept. 30, USPS deliveries declined to 155.4 billion pieces from 158.2 billion. First-class deliveries accounted for 2.2 billion pieces of that decline.
But package deliveries rose to more than 4 billion pieces from 3.7 billion, accounting for $1.1 billion of the USPS’s revenue growth of $1.9 billion. In the run-up to Christmas, the USPS has been doing Sunday deliveries for Amazon.com Inc in a number of cities. Manabe adds that the agency will handle the online retailer’s push into same-day and next-day deliveries “in many markets.”
EBay Inc is another major customer and Manabe says “pretty much anyone who’s in the e-commerce space at least does some volume with us.”
Intel’s Security Exec Jumps Ship
Michael Fey has left Intel Security Group to become chief operating officer at Blue Coat. Blue Coat is apparently not the traditional garb of a British Holiday Camp entertainer, but apparently a privately owned network security company.
Fey was one of the few top McAfee managers to stay with the company after it was bought by Intel in 2011. McAfee is now part of Intel Security Group, where Fey had been chief technology officer. Fey said that his role at Blue Coat would be “very similar” to his old job but he was allowed to focus on the cloud and the advanced threats space more.
“Blue Coat had tremendous growth behind the scenes and now I get to focus on taking that growth and trying to get it to the billion-dollar revenue mark,” he told Reuters.
Since the $7.7 billion acquisition by Intel, McAfee has lost senior managers and key talent in technology development, research and sales. At Blue Coat, Fey will replace David Murphy, who will stay on as a strategic adviser to the board.
McAfee’s Biometric Software Coming Soon
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A McAfee security product that will use biometric technology to authenticate users will be available for download by the end of the year, said Kirk Skaugen, senior vice president and general manager of the PC Client Group at Intel, last week.
“Your biometrics basically eliminate the need for you to enter passwords for Windows log in and eventually all your websites ever again,” Skaugen said.
Further product details were not immediately available. But one of the major inconveniences in using PCs and tablets is remembering passwords, which biometrics can tame.
An average user has about 18 passwords and biometric authentication will make PCs easier to use, Skaugen said.
Biometric authentication isn’t new. It’s being used in Apple Pay, where fingerprint authentication helps authorize credit card payments through the iPhone or iPad. Intel has been working on multiple forms of biometric authentication through fingerprint, gesture, face and voice recognition.
McAfee is owned by Intel, and the chip maker is building smartphone, tablet and PC technology that takes advantage of the security software. Intel has also worked on biometric technology for wearable devices like SMS Audio’s BioSport In-Ear Headphones, which can measure a person’s heart rate.
Intel also wants to make PCs and tablets easier to use through wireless charging, display, docking and data transfers. Such capabilities would eliminate the need to carry power brick and cables for displays and data transfers. Such capabilities will start appearing in laptops next year with sixth-generation Core chips code-named Skylake, which will be released in the second half.
Was Dropbox Really Hacked?
January 24, 2014 by admin
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Dropbox suffered a major outage over the weekend.
In one of the more bizarre recent incidents, after the service went down on Friday evening a group of hackers claimed to have infiltrated the service and compromised its servers.
However, on the Dropbox blog, Dropbox VP of engineering Ardita Ardwarl told users that hackers were not to blame.
Ardwari said, “On Friday evening we began a routine server upgrade. Unfortunately, a bug installed this upgrade on several active servers, which brought down the entire service. Your files were always safe, and despite some reports, no hacking or DDOS attack was involved.”
The fault occurred when a bug in an upgrade script caused an operating system upgrade to be triggered on several live machines, rendering them inoperative. Although the fault was rectified in three hours, the knock-on effects led to problems that lasted through the weekend for some users.
Dropbox has assured users that there are no further problems and that all users should now be back online. It said that at no point were files in danger, adding that the affected machines didn’t host any user data. In other words, the “hackers” weren’t hackers at all, but attention seeking trolls.
Dropbox claims to have over 200 million users, many of which it has acquired through strategic partnerships with device manufacturers offering free storage with purchases.
The company is looking forward to an initial public offering (IPO) on the stock market, so the timing of such a major outage could not be worse. Dropbox, which includes Bono and The Edge from U2 amongst its investors, has recently enhanced its business offering to appeal to enterprise clients, and such a loss of uptime could affect its ability to attract customers.
Is Apple Doomed?
August 22, 2013 by admin
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The necromancy department of Apple has been summoning the spirit of Steve Jobs in the hope of turning around its current dismal growth figures. For a while now, even amongst Apple fanboys, there has been a belief that Jobs’ Mob has gone done the tubes since Jobs croaked.
It is a myth of course, Jobs’ specialty was not innovation but to market a working ideas as if it were his own. But either way Apple is attempting to try and convince everyone that the new iPhone was personally designed by its former CEO. Even after being dead for a while now, and having no impact over the disasters the company has since suffered, Jobs apparently was on board for the iPhone 5S.
According to Apple’s government liaison Michael Foulkes, Jobs oversaw the design of two models of iPhone to go on sale after his death. We suspect that it will take full resurrection before anyone takes this particular spin seriously. If Jobs could really see into the future and predict where his toys would be three years after he died, we would have thought he would have also seen that was a stupid idea not to accept conventional medical treatment for his cancer until it was too late.
Xerox Moving Into IT Services
Printer and copier maker Xerox Corp forecast current-quarter earnings below estimates as it quickens efforts to transform itself into a technology services provider.
Xerox, whose shares were little changed at midday, also offers services such as managing toll systems and healthcare programs to counter sluggish growth in its printers and copiers business, which accounts for about 40 percent of its revenue.
Services is now the larger part of the company’s business and lower margins in IT and business process outsourcing is dragging overall margins.
The company said it expects second-quarter revenue from its document technology business, which includes printers and copiers, to decline in the mid-single digits. Revenue fell 9 percent to $2.14 billion in the business in the first quarter.
Based in Norwalk, Connecticut, Xerox moved into business services with its purchase of Affiliated Computer Services Inc (ACS) for $5.5 billion in 2009 – the company’s biggest deal in its 106-year history.
Xerox said it plans to quicken the pace of a restructuring plan kicked off in the last quarter of 2012 and included a 2-cent restructuring charge in its second-quarter forecast.
Xerox said it expects flattish revenue for the full year, compared with previous expectations of up to a 2 percent growth, it said on a conference call with analysts.
The company said it was on track to reach its target of adjusted EPS of $1.09 to $1.15 for the full year and to generate operating cash flow of $2.1 billion to $2.4 billion.
“Europe remains weak. US remains stable, but weak. We have not seen a pickup in the US,” Xerox CEO Ursula Burns said on a conference call with analysts.
“We did see a slowdown, a bit of a slowdown, in some developing market economies. But our business model is fairly resilient in the developing markets,” she said.