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Cisco to acquire Tail-f Systems for USD 175 mln
2014-06-17 15:54:00| Telecompaper Headlines
(Telecompaper) Cisco announced an agreement to acquire Tail-f Systems, a developer of network service orchestration products for traditional and virtualized networks. Tail-f's products help service providers and enterprise IT organizations implement applications and network services across networking devices. Headquartered in Stockholm, Tail-f is a privately held company. According to Cisco, its technology helps reduce the time-to-market for network equipment vendors building equipment for software-programmable networks. Upon completion of the acquisition, Tail-f employees will join Cisco's Cloud and Virtualization Group. Cisco will pay approximately USD 175 million in cash and retention-based incentives in exchange for all shares of Tail-f. The acquisition of Tail-f is expected to be complete in the fourth quarter of Cisco's fiscal year 2014.
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Batelco wins USD 211 mln from Indian partner
2014-06-16 16:02:00| Telecompaper Headlines
(Telecompaper) A British court has ruled in Batelco's favour, ordering the operator's former Indian partner to pay it USD 211.1 million for failing to fulfill a previous agreement. Batelco had sued Chennai-based Siva and its chairman Chinnakannan Sivasankaran, seeking repayment of the USD 174.5 million it paid the company for a 43 percent stake in Indian operator S Tel in 2009, plus USD 10.3 million in damages and a further USD 30,000 a day. The court found that the defendants failed to adhere to a settlement agreement for the commercial venture. Batelco exited the venture after S Tel struggled to compete in the crowded Indian market and had several of its licences revoked as part of a wider scandal in the Indian government.
Level 3 to buy tw telecom for USD 7.3 bln
2014-06-16 15:17:00| Telecompaper Headlines
(Telecompaper) Level 3 Communications has agreed to buy tw telecom for a combination of cash and shares, valuing the operator at USD 7.3 billion including debt. Tw shareholders will receive USD 10 cash and 0.7 shares of Level 3 common stock for each share of tw telecom they own. This values tw telecom at USD 40.86 per share, versus USD 36.34 at closing the day before the deal was announced. The takeover substantially strengthens Level 3's North American network, providing key network assets and building connections. The company expects USD 200 million in annual adjusted EBITDA savings and USD 40 million in capex savings from the takeover. In total, the net synergies are estimated at USD 2 billion, and around 70 percent of the EBITDA savings should be realised within 18 months of closing the takeover. Level 3 estimates the one-time integration costs at USD 170 million. It expects the transaction to add to free cash flow per share a year after the deal closes. Despite taking on USD 1.6 billion in debt from tw, Level 3 said the enlarged group will have lower leverage. The company has secured USD 3 billion in financing for the takeover and the support of its largest shareholder, ST Telemedia with a 23 percent stake. Pending regulatory and shareholder approval, the acquisition is expected to close in Q4.
Research And Markets: Revenue Generated By The Global Fermentation Chemicals Market Expected To Reach USD 60,123.9 Million By 2019
2014-06-16 14:59:34| chemicalonline Home Page
Research and Markets (http://www.researchandmarkets.com/research/56wftp/fermentation) has announced the addition of the "Fermentation Chemicals Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" report to their offering. The ever increasing food and beverages industry across globe is fuelling the demand for fermentation chemicals. Fermented alcohols were the largest consumed fermentation chemical across the globe in 2012 which is used as drinkable alcohol, spirits, solvents and mixture in fuels. The growing demand
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Palo Alto to pay Juniper USD 175 mln to settle patent suits
2014-05-29 09:10:00| Telecompaper Headlines
(Telecompaper) Juniper Networks announced that it has entered into a settlement agreement with Palo Alto Networks, resolving patent litigation between the two companies. Under the terms of the settlement, Palo Alto Networks will make a one-time payment to Juniper Networks of USD 75 million in cash and USD 100 million in shares of common stock and warrants to purchase common stock. Juniper Networks and Palo Alto Networks will dismiss all patent litigation pending in Delaware and California and license each other the patents involved in the infringement suits for the life of the patents. The two also agreed not to sue each other for patent infringement for eight years.
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