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Tag: mln
NYC to invest USD 70 mln into broadband for all
2015-05-05 09:34:00| Telecompaper Headlines
(Telecompaper) New York City Mayor Bill De Blasio said the city will invest USD 70 million over the next ten years, in order to make broadband available to all 8.5 million New Yorkers, Cnet reported. The funding is for De Blasio's ten-year OneNYC technology plan announced in April. The project wants to help level the playing field in terms of economic opportunity among NYC residents and to take advantage of the jobs tech startups are creating in the city. De Blasio said he sees the technology industry as a way to close the income gap between rich and poor in the city. Around 20 percent of New Yorkers currently lack access to broadband at home. The number rises to 36 percent for low-income households. Nationally, about 17 percent of households do not have broadband, according to a recent report from the FCC.
Tags: all
usd
invest
broadband
Ciena to buy Cyan for USD 400 mln
2015-05-04 16:16:00| Telecompaper Headlines
(Telecompaper) Ciena has agreed to acquire Cyan for USD 400 million, or USD 335 million net of cash and including Cyan's outstanding convertible notes on an as-converted basis. Ciena said the addition of Cyan will accelerate the availability of a complete system for customers to deliver virtualised networks and services on-demand. The deal is expected to close in Ciena's fiscal fourth quarter. Ciena will assume Cyan's USD 50 million worth of 8.0 percent convertible senior secured notes due 2019. The transaction is subject to certain approvals. The boards of both companies have approved. Cyan also announced its first quarter results, saying revenues grew 89 percent year-on-year to USD 36.0 million. The net loss meanwhile widened to USD 52.9 million or USD 1.11 per share from a loss the year earlier of 15.0 million or USD 0.32 per share. The net loss includes a USD 41.3 million non-cash charge associated with its convertible debt, primarily the result of a 60 percent increase in the company's stock price during the quarter.
Barclays injects GBP 100 mln into tech companies
2015-05-04 14:33:00| Telecompaper Headlines
(Telecompaper) Barclays launched a new GBP 100 million fund to help fast growing technology businesses accelerate to the next level. The new drive will see the bank backing some of the most innovative UK technology businesses with lending of up to GBP 5 million, repayable over three years. Until now, this type of lending has not been widely available to UK businesses, whereas their US counterparts have been able to grow rapidly through access to debt finance.
AT&T formally completes Nextel purchase for USD 1.875 mln
2015-05-01 09:17:00| Telecompaper Headlines
(Telecompaper) AT&T has closed its acquisition of NII Holdings' Nextel Mexico business for USD 1.875 million after the deal was approved by Mexico's telecom regulator IFT and the US Bankruptcy Court for the Southern District of New York, which is overseeing the restructuring of NII Holdings. The acquisition excludes around USD 427 million of net debt and other adjustments. The deal marks AT&T's second purchase of a Mexican mobile operator this year following its January acquisition of Iusacell for USD 2.5 billion. AT&T acquired all the companies operating under the name Nextel, including spectrum licenses, network assets, retail stores and subscribers, and the company said it will now integrate Iusacell and Nextel into a single operator.
Tags: purchase
usd
att
formally
LG smartphone shipments soar 26% to 15.4 mln in Q1
2015-04-29 08:40:00| Telecompaper Headlines
(Telecompaper) LG Electronics announced a net profit of KRW 38.4 billion in the first quarter, up 0.3 percent from the year before but rising significantly from the loss of over 205 million reported in the fourth quarter. The operating profit lifted 2.2 percent from the year earlier to KRW 305.2 billion. Revenues were virtually unchanged at KRW 13.99 trillion, with soaring smartphone sales offset by modest revenue declines in TVs. LG's mobile division recorded its highest first-quarter revenues since introducing its first Android device in 2010, with shipments rising 26 percent year-on-year to 15.4 million smartphones. Revenues advanced 5 percent to KRW 3.6 trillion and operation profit margins improved both quarter-over-quarter and year-over-year. Sales in North America jumped 66 percent from the year before, while sales in Korea grew 57 percent from the previous quarter with the introduction of the G Flex2 premium smartphone with Plastic-OLED display. The launch of the LG G4 in the second quarter is expected to strengthen the company's presence in the premium smartphone segment and further improve profitability.
Tags: smartphone
q1
shipments
mln
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