A round-up of today's other technology stories in brief
VC funding in Irish firms at 'all-time low'
International VC funding in Irish technology companies is at an all-time low, according to tech-focused corporate finance house Whitebridge Capital. Opening the Irish group's Boston office this week, director Mark Fenelon said Ireland was no longer "deemed by leading international investors to be a technology leader in Europe".
Research carried out by Whitebridge indicated that of €150 million invested in Irish tech companies in the first nine months of 2006, just three investments came from international VCs. By contrast 55 per cent of the $1.1 billion invested in Israeli tech firms came from such companies.
Google's revenues increase 67%
Google's net revenues surged by 67 per cent in the final quarter of last year, ahead of estimates, as it continued to steal market share from other internet search engines and found new ways to squeeze
higher returns from its advertising system, according to figures released yesterday.
At the same time, the internet juggernaut signalled it would continue to invest heavily in new services and its technology platform, pointing to continued pressure on its underlying profit margins, which slipped slightly in the latest quarter.
Although Google's latest revenues and earnings beat most analysts' estimates, they failed to live up to the informal "whisper numbers" that called for stronger growth.
The company's shares, which had risen strongly in the days leading up to its earnings report, slipped back 2 per cent in after-market trading.
Google's net revenues, after deducting the traffic acquisition costs it pays to other internet companies, jumped by 72 per cent in the latest quarter to $2.34 billion (€1.79 billion), compared with the $2.2 billion Wall Street had expected.
Net income nearly tripled to $1.06 billion, or $3.29 a share.
IT employees remain confident
IT workers remain confident about their employment outlook despite adverse news this week from both Motorola and Thomson Scientific.
A survey by Amárach for the Irish Computer Society indicates that more than 90 per cent of IT workers expect their organisations to maintain staffing levels or to recruit more people in the next 12 months.
The survey also found that local labour shortages are a factor in employers looking abroad to fill posts. One in every 13 IT employees in Ireland came here within the last five years and, for 12 per cent of companies, recent immigrants comprise more than a quarter of total IT staff numbers.
Sony bids to reverse setbacks
Sony Computer Entertainment is poised to announce deals with software companies and internet service providers to try to reverse the dismal performance of its PlayStation Portable handheld games machines.
SCE is expected to reveal a package of PSP online services in mid-March, with analysts expecting the tie-ups to involve at least one big ISP, such as Yahoo.
The move is part of efforts by Sony to shore up its games division, which is suffering worse-than- expected losses from its PlayStation 3 console. - (Financial Times service)
