Who the heck is Gores Technology Group and what is it up to? That's the question many Cable & Wireless watchers and customers no doubt have asked since last month when the carrier announced plans to sell Gores its struggling U.S. Web hosting and IP services business for $125 million. The answer to the question is that Gores is actually a pretty well-known and respected company in financial circles. The privately held outfit, which employs about 90 people mainly in Los Angeles and Boulder, Colo., specializes in buying troubled technology businesses and making them profitable. Described by those in the know as everything from "respectable" to "aggressive" to "ruthless," Gores boasts a portfolio of 15 companies, all of which it says are turning profits and which combined are generating $3 billion in annual revenue. Gores has revived businesses such as Mattel's The Learning Co. and HP's Verifone credit card processing unit, but will have its work cut out for it with C&W's U.S. operations, which have been burning through $1 million per day according to court documents.
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