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Calpers Sets Aside $475 Million For Silicon Valley
Calpers hires 11 venture capital and private equity firms to invest the funds across California.

Seneca Investments Makes Bid For Agency.com
Founders sell shares, lay off 350, and report a first-quarter loss.

Critical Path Posts Large Loss On Scandal, Slowdown
The company is the subject of a U.S. Securities and Exchange Commission probe and numerous shareholder lawsuits.

spacer H-P Takes Gateway's Place At OfficeMaxspacer

Spending On IT Outsourcing Is Growingspacer

Cable & Wireless Buys Digital Islandspacer

BT's New Woes: Executive Pay And Faulty Handsets spacer


eBay And Newspapers Approach A Truce eBay And Newspapers Approach A Truce
  SBC Communications CEO Edward Whitacre
SBC's Whitacre With Company Update

(Requires RealPlayer)
 
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 Dow 10877.33 +56.02
 Nasdaq 2081.92 -25.51
 S&P 500 1248.92 +3.25
 Russell 2000 486.64 -0.72
 PSE Tech 740.33 -8.52
AT&T Labs Takes You There Live, Virtually AT&T; Labs Takes You There Live, Virtually
  XML Use on Rise Overseas XML Use On Rise Overseas
  Oxford Measures The Internet's Impact Oxford Measures The Internet's Impact
  New Tools Thwart DDoS Attacks New Tools Thwart DDoS Attacks

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EMC, McData Expand Sales Agreement
McData Corp. (stock: MCDT), maker of storage network switches, said that storage network provider EMC Corp. (stock: EMC) would sell a broader range of McData products. The two companies have held a sales relationship for three years, with EMC being one of the first companies to market McData's ED-5000 Director, selling it as the EMC Connectrix ED-1032. EMC will sell McData's new Galaxy-Class ED-6064 Director product as the EMC Connectrix ED-64M. EMC will sell also McData's ES-3032 and ES-3016 fabric switches as the EMC Connectrix DS-32M and DS-16M, respectively.
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InteQ Gets $57 Million In Second-Round Funding
Management service provider InteQ Corp. has secured $57 million in second-round funding. New equity in this round amounts to $40 million; $17 million is convertible-debt refinancing. Venture capital firms Charles River Ventures, M/C Venture Partners, and Mercury Interactive each invested. In December, the company raised $15 million from Charles River and M/C Venture. The company said it will use the money to bolster the sales force behind its InfraServices monitoring and management services.


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Tellme, MagicPhone To Merge
Tellme Networks Inc., a Silicon Valley startup that provides voice-based Internet services over the telephone, Monday announced it is merging with MagicPhone, a Belgian company that offers similar services in Europe. Tellme said the merger should help accelerate its growth in Europe, where the market for phone-based Internet services is generally more mature than it is in the United States. Tellme, Mountain View, Calif., is one of a number of companies offering a voice portal in which consumers can get online content through spoken commands such as "weather" or "stocks." And it uses the same basic voice-recognition technology to help businesses automate more of their customer-service functions. Tellme said the merger with Brussels' MagicPhone would be completed as a stock-based transaction, and that the combined company will also be called Tellme.
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