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Baidu acquires online video business of PPS for USD 370 mln
2013-05-07 05:51:00| Telecompaper Headlines
(Telecompaper) Chinese search services provider Baidu has acquired the online video business of internet video provider PPS for USD 370 million. Baidu and PPS expect the transaction to close in the second quarter, subject to customary closing conditions. Upon completion, PPS's online video business will be merged with Baidu's own video platform iQiyi. PPS will continue to operate as a sub-brand of iQiyi. The merger will generate synergies and will provide for an improved user experience as well as more content, Baidu said. After the acquisition, Gong Yu will continue to be CEO of iQiyi. Zhang Hongyu and PPS president Xu Weifeng will serve as co-presidents at iQiyi, and will be in charge of the PPS sub-brand and new business development.
Tags: online
business
video
usd
McAfee to acquire Stonesoft for USD 389 mln
2013-05-06 05:59:00| Telecompaper Headlines
(Telecompaper) McAfee has agreed to acquire Finland-based Stonesoft, a specialist in enhanced network firewall products, for USD 389 million in cash. Stonesoft delivers software-based cyber security to secure information flow and enhance security management. With Stonesoft, McAfee expects to grow its network security business by delivering complete network security with three platforms: McAfee's IPS Network Security Platform, McAfee's Firewall Enterprise, and Stonesoft's enhanced firewall.
Comcast revenues rise 2.9% to USD 15.31 billion in Q1
2013-05-01 16:55:00| Telecompaper Headlines
(Telecompaper) US cable operator Comcast reported revenues up 2.9 percent to USD 15.31 billion in the first quarter, compared to USD 14.88 billion in the year-earlier period. The company's operating income increased by 11.2 percent to USD 3.1 billion from USD 2.76 billion. Net profit increased to USD 1.44 billion from USD 1.22 billion. Earnings per share rose by 20 percent to USD 0.54, or by 13.3 percent to USD 0.51, excluding a gain on the sale of wireless spectrum licences. Combined video, broadband and voice customers grew by 583,000, reaching a total of 51.9 million. Comcast broadcaster NBC Universal saw revenues fall by 2.4 percent to USD 5.34 billion, compared to USD 5.5 billion in the first quarter of 2012, when it earned USD 259 million of advertising revenue from carrying the Super Bowl.
Tags: usd
rise
billion
revenues
Apple sells USD 17 billion of bonds
2013-05-01 09:19:00| Telecompaper Headlines
(Telecompaper) Apple has sold USD 17 billion of bonds, including USD 14 billion of fixed-rate securities with maturities from 3 to 30 years and USD 3 billion of floating-rate notes, Bloomberg reports. The proceeds may help Apple avoid repatriation taxes on USD 102.3 billion of funds held overseas as the company returns an additional USD 55 billion to shareholders through 2015. It is Apple's first bond offering since 1996 and the largest ever on record. It was handled by Deutsche Bank and Goldman Sachs. A person familiar with the transaction said that the offering attracted USD 50 billion of investor demand.
Telefonica sells LatAm assets for USD 500 mln
2013-04-30 09:55:00| Telecompaper Headlines
(Telecompaper) Telefonica has agreed to sell 40 percent of its assets in El Salvador, Guatemala, Nicaragua and Panama to Corporacion Multi Inversiones (CMI). Telefonica will maintain control of operations in El Salvador, Guatemala, Nicaragua and Panama, which will be merged into a joint venture. The value of the sale which is subject to obtaining the necessary regulatory approvals totals USD 500 million.
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