IT venture investments in the fourth quarter fell a staggering 40 percent to $2.18 billion over year-ago figures, marking the worst performance in a decade, according to a VentureSource survey.
Office Depot stores will start selling OmniSky's wireless e-mail and Internet service for handheld devices, the companies said Tuesday. The deal with 500 Office Depot stores will boost to nearly 2,000 the number of online and offline locations to buy the service. Palo Alto, Calif.-based OmniSky's service can be used with certain models of Palm, Handspring and Hewlett-Packard handhelds. Meanwhile, to reflect the recently announced combination of OmniSky International with OmniSky, the company has revised its second-quarter and full-year guidance. San Francisco-based OmniSky had previously expected to lose $32 million to $34 million--or 50 cents to 53 cents per share--for the quarter and $125 million to $130 million--or $1.97 and $2.04 per share--for the year. The company now expects to lose $41 million to $43 million--or 62 cents to 65 cents per share--for the quarter and $146 million to $151 million--or $2.18 to $2.26 per share--for the year.