Storage networking company Brocade Communications Systems has agreed to acquire enterprise LAN vendor Foundry Networks for approximately US$3 billion, the companies announced Monday.

The woman formerly responsible for managing Microsoft's Internet domain names has been sentenced to nearly two years in prison for bilking her employer out of US$1 million in fake registration fees.

Microsoft Thursday announced it has topped US$60 billion in yearly revenue for the first time in its history and posted a 25% year-over-year gain in net income for its fiscal year 2008.

IBM will invest $1.5 billion to boost its semiconductor manufacturing and research efforts in New York State, the company announced on Tuesday.

Attorneys representing Oracle in the company's lawsuit against rival SAP and its TomorrowNow subsidiary have for the first time publicly put a dollar figure -- "likely" $1 billion or more -- on the damages they believe the enterprise software maker deserves.

The world's largest mobile phone service provider on Monday signed a US$1 billion deal to buy a range of wireless networking and 3G (third generation mobile telecommunications) equipment from Alcatel-Lucent.

CBS has agreed to pay US$1.8 billion in cash for online media company CNET Networks in a deal that has the backing of both companies' boards.

Billionaire investor Carl Icahn will proceed with his plan to replace Yahoo's entire board in an effort to force the company to reopen merger negotiations with Microsoft, the Wall Street Journal reported Wednesday.

Hewlett-Packard is in advanced talks to acquire IT services company Electronic Data Systems in a deal that would give HP more competitive muscle against worldwide services market leader IBM.

The Srizbi botnet has stormed over its competition to become the Internet's biggest spammer.

Sprint Nextel and Clearwire will form a joint venture worth US$14.5 billion to deploy the first nationwide mobile WiMax network, they said Wednesday.

China has proclaimed itself the world's largest Internet market, with 221 million Internet users, state media reported Thursday.

Microsoft gave its first hint that it may abandon its $44.6 billion bid for Yahoo, as it approaches the deadline for a threatened proxy battle to oust Yahoo's board.

Hewlett-Packard Co. is planning to deploy a new color display technology it says can display one billion colors, making them far more vibrant and real, across its product lines.

Infosys Technologies said Tuesday that it expected its revenue to grow by 19 to 21 percent to US$5 billion in its current fiscal year, ending March 31, 2008.

EMC has agreed to buy storage vendor Iomega for US$213 million in cash, expanding EMC's reach into the fast-growing consumer and small business markets, the companies announced Tuesday.

A jury in San Diego ordered Microsoft to pay Alcatel-Lucent US$367.4 million for infringing on two patents, adding a new chapter to a long-running dispute between the companies.

The European Commission fined Microsoft a massive ?899 million (US$1.3 billion) for continued failure to honor the 2004 antitrust ruling against it, Commissioner for Competition Neelie Kroes said Wednesday.

Microsoft said its US$44.6 billion offer to purchase Yahoo is "fair" and hinted that it may pursue a hostile takeover of the Internet company, according to a statement Microsoft made Monday in response to Yahoo's formal rejection of its buyout offer.

Sun Microsystems will pay US$1 billion for Swedish software company MySQL, whose open-source database is used for some of the most widely visited Web sites in the world.