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Flipkart ends fundraising round with valuation at USD 15 bln
2015-09-25 09:01:00| Telecompaper Headlines
(Telecompaper) Indian e-commerce company Flipkart has closed its latest fundraising round, with valuation now at USD 15 billion, the Financial Times reported. The company, found by two former Amazon employees, said it recently raised USD 700 million from new and existing investors. Earlier this week, the company announced it had hired Dan Rawson, the former head of fulfilment for Amazon in North America, to manage its logistics and supply chain. Flipkart says it has around 50 million individual customers. In its bid to reach more, the company will put focus now on smaller towns and run vernacular language advertisements, using local celebrities.
Tags: round
usd
ends
valuation
Samsung, Oculus launch consumer Gear VR for USD 99
2015-09-25 08:34:00| Telecompaper Headlines
(Telecompaper) Samsung and Oculus announced the launch of a new "consumer" version of the Gear VR virtual reality glasses. The device works with the Samsung smartphones Galaxy Note 5, S6, Edge and Edge+. The latest model is 22 percent lighter than the Gear VR Innovator Edition and more comfortable to wear, Samsung said. It will launch mid-November in the colour Frost White for a recommended price of USD 99 in the US and roll out later to over 40 countries, Oculus said. Samsung launched the first version of the Gear VR in September last year. Oculus also announced range of new content for its virtual reality products, including new agreements with game developers and movie producers. Its Oculus Cinema service has been renamed Oculus Video and will feature over 100 new films in the coming weeks. Other new partners developing apps for Oculus include gaming network Twitch and the video sites Vimeo, Hulu and Netflix.
Tags: consumer
gear
usd
samsung
Digicel valued at USD 5 bln in IPO
2015-09-23 08:39:00| Telecompaper Headlines
(Telecompaper) Caribbean mobile operator Digicel has announced in a filing to the SEC that it expects its imminent initial public offering to be priced at between USD 13 and USD 16 per share, valuing the company at just over USD 5 billion at the top end of the range. The company is selling 124.1 million class A shares in the US IPO, which could raise as much as USD 2 billion. Digicel's owner, Irish billionaire Denis O'Brien, will continue to own all of the group's Class B shares and control around 94 percent of the voting power after the IPO. Digicel added in its filing that it plans to list its shares on the New York Stock Exchange under the symbol "DCEL".
Dialog Semiconductor to buy Atmel for USD 4.6 bln
2015-09-21 09:14:00| Telecompaper Headlines
(Telecompaper) Dialog Semiconductor said it will be acquiring Atmel for USD 4.6 billion in cash and stock. The deal will create a company with combined revenues of USD 2.7 billion. The companies expect cost synergies will reach USD 150 million per annum within the next two years and that the acquisition will be accretive to underlying earnings per share in 2017, the first full year following closing. The transaction is not subject to a financing condition. Dialog has received a financing commitment from Morgan Stanley in connection with the acquisition. The commitment includes a USD 2.1 billion senior secured credit facility . The combination has received unanimous approval by the boards of directors of both companies and is subject to regulatory approvals in various jurisdictions and customary closing conditions, as well as the approval of Dialog and Atmel shareholders. Jalal Bagherli will continue to be the CEO and executive board director of Dialog. Two members of Atmel's existing board will join Dialog's Board following closing.
Tags: buy
usd
dialog
semiconductor
Coca-Cola owes USD 3.3 billion in unpaid taxes
2015-09-20 06:20:34| Beverages - Topix.net
Washington, Sep 20: The US Internal Revenue Service, or IRS, has demanded that the American multi-national Coca-Cola Co. pay $3.3 billion in unpaid taxes for the years between 2007-2009 together with the corresponding interest, the soft-drink maker announced.
Tags: usd
taxes
billion
unpaid
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