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Nuzoo week in review

RingCentral looking to acquire 8X8?

RingCentral has reportedly approached 8×8 about a possible take-over. It is allegedly working with an investment bank to review the implications of a potential transaction.

UC Today says no reports have surfaced yet as to 8×8’s position and whether they are open to a sale.

Recent finances may not be a reliable indicator, however, as RingCentral would not have appeared to have been in a position to make such an offer.

Earlier this month, RingCentral announced that 10% of its workforce is being laid off in order to weather the macro-economic storm pounding the technology sector at the moment.

 

HP’s layoffs

On the subject of layoffs (as we often are, lately) HP Inc. on Tuesday said it would lose between 4,000 to 6,000 people from its workforce by 2025 after a tough fourth-quarter earnings report showed a year-on-year revenue drop of 11.2 percent to $14.8bn.

HP had approximately 51,000 global employees as of December 2021, according to a regulatory filing, reported by CRN US.

The company’s annual net revenue held at $63bn in 2022, a 0.8 per cent decline from 2021 net revenue.

Still, notebook sales fell 23 per cent to $6.4bn following an overall consumer PC market softening in 2022.

“These are the toughest decisions we have to make because it involves our colleagues,” HP CEO Enrique Lores said on an earnings conference call Tuesday with analysts after the news was disclosed in a media briefing.

During the earlier briefing, Lores told CRN that channel partners could count on the company's continued support despite cost-cutting measures.

“The channel is the way we go to market and how we manage the majority of our sales,” Lores said.

 

VMware’s subscription growth

VMware saw 20 percent growth in subscription revenue growth, and a 24 percent growth in subscription revenue to its annual recurring revenue in its latest financial update.

VMware CEO Raghu Raghuram said the company’s sales met expectations this past quarter, rising one percent, aided by the double-digit subscription revenue growth.

Broadcom CEO Hock Tan said at the May announcement of the $61 billion takeover that he wants more of VMware’s revenue to come through subscription.

All told, subscription revenue now accounts for 31 percent of the company’s total third quarter sales.

“SaaS ARR growth of 24 percent reflects increased adoption of our multi-cloud product portfolio and recently introduced customer programs,” said Zane Rowe, executive vice president and CFO, VMware, in a statement. “By continuing to meet the evolving needs of our customers, we increased our mix of subscription and SaaS revenue to 31 percent of our total revenue this quarter.”

 

Bechtle’s UK acquisition

Bechtle announced on Thursday it has snapped up B2B IT solutions provider ACS Systems UK.

VAR Bechtle direct UK has delivered a number of customer projects with the UK MSP in the past, from regional companies to large corporations and the public sector.

The executive management team of ACS will remain in their current roles and oversee the process of integrating the company into the Bechtle Group, together with James Napp, managing director of Bechtle direct UK.

“Having co-founded the company, it was very important to me to know the company will be in good hands down the road, both for our colleagues and our customers,” said ACS co-founder and CEO, Jon Thorpe.

“Together with Bechtle, we're well poised to keep growing while ensuring consistent, long-term support for our customers during their digital transformation. I'm very much looking forward to this new chapter in our company’s history.”


US trails Europe on sustainability

US channel partners are trailing behind Europe on sustainability, according to analyst firm Canalys.

“You do see disparity between partners that are headquartered in the U.S. versus those that are headquartered in Europe,” Rachel Brindley, senior director, channels, at Canalys, told Channel Futures.

Momentum around sustainability is being driven by customers rather than partners, emphasized Brindley.

“They now have very clear sustainability strategies and targets that they need to meet. They’re pushing that down to their partners, which in turn is building through into distribution but also going back upstream into the into the vendor community.”

According to research by Canalys and Schneider Electric, 75% of European partners already have at least one person focused on ESG (environment, social, governance). More than 75% of customer RFPs have sustainability criteria included.

Author: Christine Horton

Publish Date: 25/11/2022 07:48

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