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Apple to buy Beats for USD 3 billion
2014-05-29 08:31:00| Telecompaper Headlines
(Telecompaper) Apple has agreed to acquire the streaming music service and headphones maker Beats. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple is acquiring the two companies Beats Music and Beats Electronics for a total USD 3 billion, including USD 2.6 billion upfront and USD 400 million when Beats meets future targets. Beats Music will provide a boost to Apple's iTunes Radio service, enhancing the profile of the streaming music service and integrating with purchases on the iTunes store. The Beats headphones will be offered in more countries through the Apple Online Store, Apple's retail stores and resellers. Subject to regulatory approvals, Apple expects the transaction to close by September.
JD.com raises USD 1.8 bln in IPO
2014-05-22 09:22:00| Telecompaper Headlines
(Telecompaper) Chinese e-commerce group JD.com raised in total USD 1.78 billion from its initial public offering of shares on the Nasdaq market in the US. The 93.7 million American Depositary Shares, each representing two Class A ordinary shares of the company, was priced at USD 19 per ADS, higher than the earlier indicated range of USD 16-18. The ADS will begin trading on 22 May. JD.com sold 69 million new shares, and existing shareholders sold 24.7 million. The underwriters have been granted a 30-day option to purchase up to an additional 14 million ADS from JD.com. JD.com will receive initial proceeds of USD 1.31 billion from its share of the offering. The company is also raising USD 1.31 billion from the issue of another 138 million Class A shares to Tencent at the IPO price.
CWC plans USD 250 mln extra investment to boost growth
2014-05-21 16:33:00| Telecompaper Headlines
(Telecompaper) Cable & Wireless Communications announced plans to invest an additional USD 250 million in the next three years to boost growth and improve the quality of its services. This will result in total capital expenditure for the period to March 2017 of USD 1.05 billion, after spending USD 306 million last year. The Project Marlin investments follow the disposal of its activities outside Latin America, a sharp reduction in debt with the proceeds and a strategic review of its remaining assets. The investment will go to developing mobile leadership in its markets, fixed-mobile convergence, a stronger TV offering and more business services. It should result in a reversal of the historic decline in revenues and "modest" top-line growth, as well as a mid to high single-digit CAGR in EBITDA in the period to March 2017, supported by optimisation of back office processes. In addition, CWC targets an improved Net Promoter Score and an incremental return on invested capital. The plans were unveiled with its annual results for the year to March 2014, showing revenues from continuing operations down 4 percent to USD 1.873 billion. EBITDA was up 5 percent to USD 608 million, and net profit, excluding one-time items, increased 45 percent to USD 148 million.
Tags: extra
plans
growth
investment
Silent Circle raises USD 30 mln, moves to Switzerland
2014-05-21 10:45:00| Telecompaper Headlines
(Telecompaper) Silent Circle, a developer of mobile encryption and security software, announced it has raised USD 30 million in a round of funding led by investors including Ross Perot Jr and private investment fund Cain Capital. Silent Circle will use the cash to accelerate its growth and further develop the Blackphone, its secure smartphone. The company also announced that it has added Perot and Peter Bonfield, the former CEO and chairman of BT, to its advisory board and appointed Anurag Jain, formerly a senior Dell executive, as vice chairman. Silent Circle also announced that it is relocating its global headquarters from the Caribbean island of Nevis to Switzerland. The company also has offices outside Washington, DC and in London and data centres in Canada and Switzerland. The company said Switzerland's "strong privacy laws, legendary neutrality and economic business advantages" support its efforts to offer secure, private communications. Silent Circle confirmed the Blackphone, developed with Spain's Geeksphone and first unveiled in January, will start shipping in June.
Tags: usd
switzerland
circle
moves
YouTube to buy Twitch for over USD 1 bln - report
2014-05-19 09:15:00| Telecompaper Headlines
(Telecompaper) Google's YouTube has agreed to buy videogame streaming specialist Twitch for more than USD 1 billion in cash, Variety reported, citing sources familiar with the matter. The deal is expected to be announced imminently. If completed, the acquisition will be the most significant in the history of YouTube, which Google acquired in 2006 for USD 1.65 billion. Both YouTube and Twitch declined to comment but the report added that YouTube is preparing for US regulators to challenge the Twitch deal on anti-competitive issues in the online-video market.
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