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There’s chum in the financial waters and the sharks are circling. Could it be that the tech industry is on the verge of a feeding frenzy that would make the past year or so look tame by comparison?
It seems to be both a symptom of the tremendous changes hitting the IT industry and the result of weak overall economic performance resulting in too many dollars chasing too few opportunities.
As evidence, we need only witness that fury of activity resulting from the speculation, mere speculation mind you, that Oracle was on the verge of buying EMC. The frenzy apparently kicked into high gear Thursday after a single Wall Street analyst cited unnamed rumors that such a deal was imminent. The rush drove EMC stock up 5 percent by mid-day and pushed Oracle down 1 percent in heavy trading.
More of the IT Business Edge post from Arthur Cole