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Cisco to invest up to USD 1.35 bln in Mexico this year
2014-01-24 16:38:00| Telecompaper Headlines
(Telecompaper) Mexican President Enrique Pena Nieto and Cisco CEO John Chambers have met in Davos during the World Economic Forum to discuss the expansion of Cisco's presence in Mexico, including the recently announced Cisco Support Center, the expansion of manufacturing of advanced technology products, and the expansion of the Cisco Networking Academy program. Plans for direct and indirect investment are estimated to reach up to USD 1.35 billion during 2014.
Lenovo to buy IBM x86 server business for USD 2.3 bln
2014-01-23 10:31:00| Telecompaper Headlines
(Telecompaper) Lenovo confirmed it has entered into a definitive agreement to acquire IBM's x86 server business for USD 2.3 billion. This includes System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. The purchase price includes around USD 2 billion in cash and the remainder in Lenovo stock. IBM will retain its System z mainframes, Power Systems, Storage Systems, Power-based Flex servers, and PureApplication and PureData appliances. Lenovo already acquired IBM's PC business in 2005, helping it become the world's largest PC maker last year. With the PC market slowing, the acquisition of the server business will provide a new growth area for Lenovo. IBM plans to focus more on software and services and will continue to develop Windows and Linux software portfolio for the x86 platform. Following the closing of the transaction, IBM will continue to provide maintenance on Lenovo's behalf for an extended period of time. Approximately 7,500 IBM employees around the world will be offered employment by Lenovo as part of the deal. The takeover remains subject to regulatory approval and other closing conditions.
Korea to invest USD 1.5 bln in 5G, seeks entente on norms
2014-01-22 23:50:00| Telecompaper Headlines
(Telecompaper) South Korea plans to invest KRW 1.6 trillion (approx. USD 1.5 billion) through 2020 to build a 5G mobile network. The Ministry of Science, ICT and Future Planning has been in talks with the country's three mobile operators as well as technology firms such as Samsung and LG to draw up a plan, Yonhap News Agency writes. The ministry is hoping to strengthen ties with US, Chinese, and European telecom authorities to establish standards for 5G and avoid excessive patent battles. The first test run for the 5G network on social networking sites is planned for 2015.
Fon closes USD 14 mln funding round led by Qualcomm
2014-01-20 16:40:00| Telecompaper Headlines
(Telecompaper) Global Wi-Fi network Fon has completed financing totalling USD 14 million (EUR 10.3 million). Qualcomm, through its venture capital arm Qualcomm Ventures, led the fundraising round, underscoring its relationship with Fon as a strategic investor. Fon is in the process of developing a new Fon router that combines social Wi-Fi with social music, based on a chipset from Qualcomm Atheros. This new router is expected to be available from Fon in the first half of 2014. At the same time, Qualcomm Atheros is integrating Fon as a feature available via SDK for its chipsets. Other investors participating in the round include Fon's existing investors: Index Ventures, Google, Coral, Atomico and Deutsche Telekom. Fon will use the funds to build out its presence in the US as well as expand its reach into new geographies worldwide. It will also fund new product development, including a new Fon router and its newly developed "Wi-Fi for Business," a Wi-Fi service for small and medium businesses that is expanding the concept of social Wi-Fi into business.
Google to acquire Nest Labs for USD 3.2 bln
2014-01-14 07:58:00| Telecompaper Headlines
(Telecompaper) Google has agreed to acquire smart home device maker Nest Labs for USD 3.2 billion in cash. Nest develops home devices such as thermostats and smoke alarms, including the Nest Learning Thermostat and the recently launched Protect (Smoke + CO Alarm). The Nest Labs team will join Google. Nest will continue to operate under the leadership of Tony Fadell and with its own distinct brand identity. The transaction is subject to customary closing conditions, including the receipt of regulatory approvals in the US. It is expected to close in the next few months.
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