Tech News Headlines - Canadian Press

MONTREAL - Traffic jams on wireless networks due to iPhone and other smartphone users surfing the Internet and downloading video are an opportunity for DragonWave CEO Peter Allen.

BROSSARD, Que. - Technology company Diagnos Inc. (TSXV:ADK) announced Wednesday it has received a Health Canada class 2 licence for its computer assisted retinal analysis application.

TORONTO - Actuate Corp. has signed a deal to buy business software company Xenos Group Inc. (TSX:XNS) for $37.7 million in cash, the companies said Tuesday.

LOS ANGELES - Five of the largest publishers of newspapers and magazines in the United States are teaming up to challenge Amazon.com Inc.'s Kindle electronic-book reader with their own technology that would display in colour and work on a variety of devices.

LOS ANGELES - MySpace's online music venture with recording labels completed its purchase of song streaming site imeem on Tuesday, scooping up its 16 million users and mobile phone applications for less than US$1 million.

TORONTO - Vector Aerospace (TSX:RNO) is set to increase its earnings and revenues as the aircraft services company diversifies its markets and cashes in on strong demand from the military for helicopter repairs and upgrades, CEO Declan O'Shea said Tuesday.

BURLINGTON, Ont. - Evertz Technologies Ltd.'s (TSX:ET), an equipment provider to the television broadcast industry, saw its fiscal second-quarter profits cut nearly half as weakness in North America drove revenue down 20 per cent.The company announced Tuesday its net income for the three months ended Oct. 31 totalled $17.5 million or 23 cents a share. That compared with $34.1 million or 46 cents a share in the same period last year.

TORONTO - Sales software developer Hosted Data Transaction Solutions Inc. (TSX:HDX) said Tuesday it has agreed to buy cash machine operator Cash N Go Ltd. for an undisclosed amount, more than doubling its potential annual revenue.

STOCKHOLM, Sweden - Wireless equipment maker LM Ericsson on Tuesday said it plans to cut almost 1,000 jobs in Sweden because an increase in production efficiency has made some work redundant.

MONTREAL - Mitec Telecom Inc. (TSX:MTM), a provider of radio frequency products for the telecommunications and satellite communications industry, announced Tuesday a wider second-quarter loss as revenues declined 32 per cent from a year earlier.

SAN FRANCISCO - AOL is shaking loose from Time Warner Inc. and heading into the next decade the way it began this one, as an independent company. Unlike the 1990s, though, when AOL got rich selling dial-up Internet access, it starts the 2010s as an underdog, trying to beef up its Web sites and grab more advertising revenue.

SAN FRANCISCO - Microsoft Corp. and Yahoo Inc. have signed off on their plan to team up against Google Inc. in the lucrative Internet search market.

CALGARY - Shaw Communications Inc. (TSX:SJR.B) said Friday it has signed a deal to buy back and cancel 1.5 million of its class B shares for $29.7 million.

TORONTO - Rogers Communications Inc. (TSX:RCI.B) will advertise itself as "Canada's reliable network," after a B.C. appeal court upheld a decision to force the company to drop the word "most" from its two-year-old slogan.

TORONTO - Look Communications Inc. (TSXV:LOK.A) completed the restructuring of its operations and has shut down its network, the company announced Friday after reporting it returned to profitability in fiscal 2009.

TORONTO - The sale of Nortel's enterprise solutions business to Avaya Inc. inched another step closer to completion after Ottawa gave it the green light Friday under the Investment Canada Act.

UNIVERSAL CITY, Calif. - Almost everywhere you look at Universal Studios Hollywood, there are signs flaunting the 5-year-old marriage of NBC and Universal.

TOKYO - The 2010 World Cup is going 3-D.

SAN JOSE, Calif. - Cisco Systems Inc. says it is waiving its condition that 90 per cent of shareholders of Norwegian videoconferencing equipment firm Tandberg ASA back its US$3.4-billion takeover offer and will close the deal as soon as possible.

TORONTO - Cabinet could overturn a decision by the CRTC that prevents cellphone company Globalive from launching its service in Canada, federal Industry Minister Tony Clement says.

TORONTO - Research in Motion (TSX:RIM) shares dropped more than two per cent Thursday following reports that Prism Technologies LLC, a Nebraska-based company. has filed a complaint with the U.S. International Trade Commission.

TORONTO - Nortel Networks Inc. says it has obtained court approvals in Canada and the United States to sell its optical networking and carrier Ethernet businesses to Ciena Corp. (Nasdaq:CIEN)

PHILADELPHIA - The Associated Press has learned that Comcast is expected to pay General Electric $13.75 billion in cash and assets for control of NBC Universal.

SEATTLE - Microsoft Corp. says it's not to blame for a problem that is causing a "limited" number of Windows computers to boot up to a blank black screen.

HELSINKI, Finland - Nokia Corp. said Wednesday it expects the global mobile phone market to grow by 10 per cent in 2010, suggesting the industry is recovering from a global recession that has also hit handset sales.

FRANKFURT, Germany - German industrial conglomerate Siemens AG said Wednesday it had come to a tentative settlement agreements with nine former board members, including two former chief executives, in connection with a massive bribery scandal at the company.

OSLO, Norway - The world's largest computer networking equipment maker, Cisco Systems Inc., on Wednesday said it needs only another 6 per cent stake in videoconferencing equipment firm Tandberg ASA to be able to complete its US$3.4 billion takeover.

TORONTO - Nokia Siemens has asked a U.S. bankruptcy court to reject Ciena Corp. (Nasdaq:CIEN) as the winning bidder for Nortel Networks' optical networking and carrier Ethernet businesses and suggested it would be willing to pay more.