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Clearwire to take USD 80 mln draw under Sprint Nextel deal
2013-02-27 22:27:00| Telecompaper Headlines
(Telecompaper) Clearwire has announced it has elected to take the USD 80 million March draw under the terms of its agreements with Sprint Nextel to provide additional financing to Clearwire in the form of notes be exchangeable for Clearwire common stock at USD 1.50 per share. The Special Committee has not decided whether to take any future draws under the Sprint Financing Agreements. The committee has engaged in discussions with Dish concerning its takeover proposal and with Sprint over the course of the last two months, and intends to continue such discussions. Clearwire does not expect to enter into an accelerated build-out agreement with Sprint at this time.
Pinterest raises USD 200 million, valued at USD 2.5 billion
2013-02-21 09:24:00| Telecompaper Headlines
(Telecompaper) Scrapbooking website Pinterest has raised USD 200 million of funding from first time investor Valiant Capital and existing backers Andreessen Horowitz, Bessemer Venture Partners and FirstMark Capital. The move values Pinterest at USD 2.5 billion. CEO Ben Silbermann said the investment would give Pinterest more resources to help realise its vision "of helping millions of people discover the things they love". Pinterest allows users to make online collages of 'pinned' photos and videos of their interests. The website is free to use, but the company is studying advertising models and is building relationships with businesses, reports the Wall Street Journal. Pinterest has over 100 employees and most recently raised cash in May 2012, drawing USD 100 million in a round led by Japan's Rakuten e-commerce group and valuing it at USD 1.5 billion.
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Ukraine Earns USD 316 Million on Meat Exports in 2012
2013-02-19 01:00:00| ThePigSite - Industry News
UKRAINE - In 2012, Ukraine exported meat and meat products at USD 316 million. Beef export grew by 95 per cent against 2011, pork, home poultry meat and its byproducts by 62 per cent each.
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Opera acquires Skyfire Labs for up to USD 155 million
2013-02-15 10:33:00| Telecompaper Headlines
(Telecompaper) Opera has acquired US mobile video optimisation and cloud solutions company Skyfire Labs for up to USD 155 million. Skyfire's Rocket Optimizer software allows operators to optimise nearly any video and other multimedia on crowded base stations supporting 3G, LTE and other technologies. According to the company the solution offers a 60 percent capacity boost, on average, by reducing the size of the content to fit the available bandwidth. The approach aligns with the trend toward SDN (software-defined networking) and NFV (network function virtualisation) among operators.The transaction is expected to close before 15 March.
Zain FY net income declines to USD 902 mln
2013-02-15 09:31:00| Telecompaper Headlines
(Telecompaper) Middle East mobile operator Zain announced that its net income for 2012 declined to USD 902 million from USD 1.033 billion in 2011. Revenues fell to USD 4.58 billion from USD 4.79 billion, and EBITDA amounted to USD 2.04 billion, giving an EBITDA margin of 44.5 percent. The board recommended a cash dividend of USD 0.18 per share. Zain's consolidated customer base grew by 6 percent over the year to 42.714 million active customers, good for 2.451 million new lines in the past twelve months. Group chairman Asaad Al Banwan said 2012 had been a challenging year, and Zain's results suffered from exchange rate effects of around USD 109 million. He said Zain continued to adhere to its policy of reducing administrative, operational and finance costs during 2012.
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