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SoftBank ups Sprint offer by USD 1.5 bln
2013-06-11 03:56:00| Telecompaper Headlines
(Telecompaper) Japanese communications provider SoftBank has agreed to raise its offer for US operator Sprint Nextel. In an attempt to fend off a rival offer from Dish Network, Softbank has increased its offer by USD 1.5 billion to USD 21.6 billion, which is still lower than Dish' offer of USD 25.5 billion. Softbank and Sprint said in a joint statement that Sprint's directors have unanimously determined that the proposal submitted by Dish is not reasonably likely to lead to a superior offer. Sprint shareholders were scheduled to vote on the offer on 12 June, but this has now been rescheduled to 25 June.
Northland Announces First Drawdown of USD 100 Million From the USD 335 Million Bond
2013-06-10 13:18:14| Appliances - Topix.net
The Company announced earlier in a press release dated May 30, 2013, that the New Bond was successfully subscribed.
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Tivo to receive USD 490 mln from Cisco, Google
2013-06-10 10:08:00| Telecompaper Headlines
(Telecompaper) Tivo confirmed it has settled its pending patent litigation with Motorola, Cisco and Time Warner Cable. It also agreed to reach patent licensing arrangements with Arris (which has since acquired Motorola's set-top box business), Cisco and Google (the former owner of the Motorola assets). As part of the settlement, Google and Cisco will pay Tivo an upfront lump-sum payment of USD 490 million. This brings the total from awards and settlements raised by Tivo in intellectual property lawsuits to roughly USD 1.6 billion. As part of the settlement, Tivo and Motorola, Cisco, and Time Warner Cable agreed to dismiss all pending litigation between the companies.
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Google to buy Waze for around USD 1.1 billion - report
2013-06-10 08:57:00| Telecompaper Headlines
(Telecompaper) Google has agreed to acquire map software maker Waze for around USD 1.1 billion, a person with knowledge of the deal told Bloomberg. Waze's mobile app uses input from over 40 million users to improve directions and display details of traffic conditions and road hazards. This social feature would allow Google to keep its mobile navigation system lead over competitors like Apple and Facebook. Waze generates revenue through location-based advertising. Its app supports iOS and Android. Neither company would comment on the matter. Israeli newspaper Globes first reported the deal, pricing it at USD 1.3 billion.
Lenovo grows Q4 profit 90% to USD 127 million
2013-05-23 09:40:00| Telecompaper Headlines
(Telecompaper) Chinese PC and mobile device maker Lenovo reported sales up 4 percent to USD 7.8 billion in its fiscal fourth quarter to 31 March, compared to a year earlier. The company achieved market-beating PC shipments and smartphone sales increased by 3.7 on last year, according to chairman and CEO Yang Yuanqing. Operating profit rose by 67 percent to USD 169 million and earnings increased by 90 percent to USD 127 million. The group will focus future investments on the tablets, smartphones and enterprise hardware, while working to enhance profitability in the core PC business.
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