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Yahoo Inc. will reorganize into three new units, as part of a shake-up that will see Chief Operating Officer Dan Rosensweig leave the company, Yahoo said Tuesday.

Enterprise software developer Hummingbird Ltd. said today that it agreed to be purchased by holding company Symphony Technology Group in a deal valued at US$465 million. The Toronto company develops enterprise content management (ECM) software that helps organizations manage documents, records, correspondence and contracts.

IBM Tuesday announced a new mainframe, the z9 -- which it says is twice as powerful as the model it replaces -- as well as improvements to its enterprisewide virtualization systems. At one time, a new mainframe announcement by IBM would have focused primarily on performance gains. But citing a rash of data thefts and losses over the past year at a number of companies, IBM emphasized new data security capabilities on the z9.

Oracle Corp. appointed Gregory Maffei, a former Microsoft Corp. executive, as president. He will also take on the role of chief financial officer (CFO) from July, the company said Friday.

Citing overcapacity for processing online trading orders in light of the recent stock market sell-off, Charles Schwab & Co. Inc. yesterday announced plans for major job cuts amounting to 11 percent to 13 percent of its workforce.