Adobe, better known as the maker of the Photoshop graphics software, the Acrobat reader and Flash browser plug-in, has named Shantanu Narayen its new CEO effective December 1. A eight-year veteran of Adobe, Narayen is currently president and COO of the San jose, California software vendor. As COO, Narayen is currently responsible for day-to-day global operations, oversees product R&D, corporate strategy and investments as well as corporate and product marketing. Narayen will succeed Bruce Chizen, who will serve the remainder of his term on Adobeâ€™s Board of Directors through the Spring of 2008 and continue in a strategic advisory […]
Continuing its string of software acquisitions, IBM is acquiring business intelligence software firm Cognos for $4.9 billion in an all cash transaction. Cognos’ products are said to be complementary to IBM’s database and middleware components. The deal values Cognos at $58 per share, 9.5% higher than its closing price on Friday. IBM executives said that as of the last quarter, Cognos’ trailing twelve month revenue was about $1 billion. Cognos has 4,000 employees worldwide and 25,000 customers.Â Â The deal is expected to close in Q1 of next year.
Bollywood superstar Shahrukh Khan’s reincarnation-based film Om Shanti Om handily beat Sanjay Leela Bhansali’s Saawariya featuring debutantes Ranbir Kapoor and Sonam Kapoor at the U.S. box office for the November 9-11 opening weekend. According toÂ U.S. box office numbers, Om Shanti Om came in at a respectable No-11 with a weekend gross collection of $1.76 million. Eros Entertainment distributed Om Shanti Om. Based on Fyodor Dostoevsky’s novella White Nights, Saawariya was way behind at No-24 and a weekend gross of $542,192. Saawariya was produced and distributed by Sony Pictures. Om Shanti Om was released inÂ 114 theaters in the U.S. compared to […]