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Vivendi to sell 49% of Activision Blizzard for USD 8.2 bln
2013-07-26 08:29:00| Telecompaper Headlines
(Telecompaper) French telecom and entertainment group Vivendi announced that it will divest over 85 percent of its interest in computer game subsidiary Activision Blizzard for USD 8.2 billion, or USD 13.60 per share. The majority of its shares (429 million) will be acquired by Activision Blizzard. An additional portion (172 million) will be acquired by a consortium of investors (ASAC II LP) including Activision CEO Bobby Kotick and co-chairman Brian Kelly. Vivendi currently owns 61.1 percent or 684 million Activision common shares. Upon completion of this transaction, Vivendi will retain 83 million shares, representing 12 percent of Activision after the transaction.
Tags: sell
usd
blizzard
activision
Facebook revenues increase 53% to reach USD 1.81 bln in Q2
2013-07-24 22:27:00| Telecompaper Headlines
(Telecompaper) Facebook revenue for the second quarter 2013, ending 30 June 2013 increased 53 percent year-over-year to USD 1.81 billion from USD 1.18 billion. Advertising revenue represented 88 percent of total revenue and increased 61 percent to reach USD 1.60 billion. Mobile advertising revenue represented 41 percent in the quarter and revenue from payments and other fees increased 11 percent to USD 214 million. GAAP costs and expenses dropped 35 percent to USD 1.25 billion. Excluding share-based compensation and related payroll tax expenses, non-GAAP costs and expenses were USD 1.02 billion, up 52 percent from USD 669 million.
Tags: increase
reach
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revenues
Cisco to buy Sourcefire for USD 2.7 billion
2013-07-23 15:12:00| Telecompaper Headlines
(Telecompaper) Cisco has agreed to acquire the network security specialist Sourcefire for USD 2.7 billion. Sourcefire's board has approved the offer of USD 76 per share plus a buy-out of outstanding staff equity and retention awards. Sourcefire's products include intrusion prevention systems, firewalls and protection against malware, helping deliver automated security to identify and remediate threats across the network. The acquisition is expected to close during the second half of 2013, subject to regulatory reviews. Cisco expects the acquisition to be slightly dilutive to its adjusted earnings in fiscal 2014 due to purchase accounting adjustments and integration costs. Upon completion of the transaction Sourcefire employees will join the Cisco Security Group led by Christopher Young. Sourcefire was founded in 2001 and completed its initial public offering in 2007. The company is based in Maryland and has more than 650 employees worldwide. In 2012, Sourcefire reported revenue of USD 223.1 million, up 35 percent.
Baidu to acquire 91 Wireless for USD 1.9 bln
2013-07-16 04:37:00| Telecompaper Headlines
(Telecompaper) Chinese search provider Baidu has agreed to buy 91 Wireless Websoft, a developer of online games and mobile applications in China, for a total USD 1.9 billion. Baidu has signed a MoU and aims to reach a definitive agreement by 14 August to purchase NetDragon's 57.41 percent equity interest in 91 Wireless. Until then, NetDragon is restricted from approaching or discussing with any third parties the sale of 91 Wireless. Baidu intends to purchase the remaining equity interests in 91 Wireless from other shareholders based on terms and conditions similar to those offered to NetDragon.
Tags: wireless
usd
acquire
baidu
AT&T to acquire Leap Wireless for USD 15 per share
2013-07-14 10:15:00| Telecompaper Headlines
(Telecompaper) AT&T has agreed to acquire Leap Wireless International for USD 15 per share in cash. AT&T will acquire all of Leap's stock and mobile properties, including licenses, network assets, retail stores and approximately 5 million subscribers. As of 15 April this year, Leap had USD 2.8 billion of net debt.
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