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Telstra to acquire Pacnet for USD 679 mln

2014-12-23 05:02:00| Telecompaper Headlines

(Telecompaper) Australian operator Telstra has announced it would acquire Asian telecommunications and services provider Asian communications provider Pacnet for USD 679 million. The Pacnet acquisition includes interests in its China joint venture, PBS, which is licensed to operate a domestic internet protocol virtual private network and provide data centre services in China. The acquisition is subject to completion adjustments. The transaction is subject to regulatory and Pacnet financier approvals and is expected to complete by mid-2015.

Tags: usd acquire mln telstra

 

Xiaomi secures over USD 1 bln in funding round - report

2014-12-22 05:32:00| Telecompaper Headlines

(Telecompaper) Chinese manufacturer Xiaomi is raising over USD 1 billion in its latest funding round. This values the Chinese smartphone maker at over USD 45 billion, the Wall Street Journal reports, citing an unnamed person familiar with the matter. Expected to close on 22 December, the funding round is led by tech investment fund All-Stars Investment, the source added. Other participants in the round include existing Xiaomi shareholders Russian investment firm DST Global and Singapore fund GIC. Private-equity firm Yunfeng Capital is also participating in the round. A Xiaomi spokesman declined to comment. Back in August 2013, in its previous funding round, Xiaomi was valued at USD 10 billion.

Tags: report round usd funding

 
 

Blackberry narrows loss as Q3 revenues fall to USD 793 mln

2014-12-19 15:53:00| Telecompaper Headlines

(Telecompaper) BlackBerry said revenues for its third quarter to 29 November fell to USD 793 million from 1.2 billion the year before. Hardware contributed 46 percent to revenues, services accounted for another 46 percent and software for 8 percent. Hardware revenue was recognised on 2 million BlackBerry smartphones. The company sold a total of 1.9 million smartphones to end customers. The net loss narrowed to USD 148 million or USD 0.28 per share, from a loss the year before of 332 million or 0.63 per share. The non-GAAP net result went to a profit of USD 6 million or USD 0.01 per share, from a loss the year earlier of 0.02 per share. At the end of fiscal Q3, the company had total cash, cash equivalents, short-term and long-term investments of USD 3.1 billion, up by USD 43 million from the previous quarter. The EZ Pass Program resulted in a total of 6.8 million licenses issued for BES10, a 100 percent increase from fiscal Q2, with over 30 percent of total licenses traded in from competitor Mobile Device Management platforms. Going forward, Blackberry expects to maintain its strong cash position, while increasingly looking for opportunities to prudently invest in growth. The company continues to anticipate break-even or better cash flow from operations. As it expands distribution capability, the company continues to target sustainable non-GAAP profitability some time in fiscal 2016.

Tags: fall loss usd revenues

 

Atos to buy Xerox IT outsourcing business for USD 1.05 bln

2014-12-19 08:50:00| Telecompaper Headlines

(Telecompaper) French IT services group Atos has reached an agreement to buy US business services, technology and document management company Xerox's IT outsourcing business for USD 1.05 billion in cash and to become a primary IT services provider for Xerox. The move will nearly triple the size of Atos's business in the US, which would become its biggest operating geography. The transaction includes an additional USD 50 million subject to the condition of certain assets at closing. Xerox's IT outsourcing business employs about 9,800 employees in 45 countries, 4,500 of whom are in the US. It will have an estimated USD 1.5 billion of revenue this year. Xerox currently uses Atos for IT outsourcing work in Europe. Acquiring Xerox's IT outsourcing business provides Atos with a broader geographic footprint and the ability to support the needs of its European and US clients anywhere in the world. This adds breadth to its already deep services portfolio and leading technologies, particularly in cloud, big data, cyber-security, and in high power computing. The intended transaction, which has received the unanimous support of both the Atos and Xerox boards, is subject to customary closing conditions, regulatory and antitrust approvals, and consultation, when relevant, with employee representative bodies. The transaction is expected to close in the first half of 2015.

Tags: business buy usd outsourcing

 

Applied CleanTech's Sewage Mining Technology Turns Wastewater Into Cash: Acting To Raise 2-5 Million USD Via Crowdfunding Or Direct Investment For Further Business Development

2014-12-19 08:46:12| pulpandpaperonline Home Page

Applied CleanTech announced its campaign to raise its next round of funding, targeted at 2-5 Million USD, through EquityNet crowdfunding platform for investors. The investment is required for business development in Western Europe and the Americas

Tags: business technology development direct

 

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