Late News (30 July)

• CHS Electronics is expecting to gain $394 million to spend on acquisitions after publicly offering 13 million shares. CHS chairman Claudio Osorio said $74 million of the windfall will be used to buy Karma International.
• Chip giant Intel will buy Californian company Chips & Technologies in a bid to strengthen its graphic accelerator and video presence. The deal will be transacted in cash and Intel will pay $370 million for the company, which will become a wholly owned subsidiary.
• Madge Networks is expected to lay off staff and pull out of ATM , following a heavy loss in its Q2, ended 30 June, when it lost $6.7 million on a turnover of $102.1 million. Madge is hoping to save $19 million with its cutbacks.
• A federal court ruled last week that Microsoft?s temporary workers were entitled to pension and stock purchase benefits, despite the fact that they were employed as independent contractors. More than 4,000 temporary employees work for Microsoft.
• Apple?s board has been whittled down to seven members following the resignation of Delano Lewis, president and CEO of National Public Radio, who left to concentrate his efforts on NPR.
• Intel has agreed to continue shipments of Pentium chips to Digital, despite having previously threatened to cut off supply. The size of the shipment for Digital?s fourth quarter is not known.
• 4Front Group has undergone a restructure which has seen the departure of Joel Jervis as managing director of the products division. Terry Burt has become group MD and Ken Newell has been made deputy chairman and director of corporate affairs.