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Tech Mahindra to acquire Lightbridge for USD 240 mln
2014-11-20 13:43:00| Telecompaper Headlines
(Telecompaper) Indian IT company Tech Mahindra has agreed to acquire global provider of wireless and wireline network services Lightbridge Communications (LCC) for an enterprise value of around USD 240 million, subject to regulatory approvals. The transaction is scheduled for completion by the fourth quarter of Tech Mahindra's 2015 FY.
SAP settles with Oracle for USD 359 mln
2014-11-14 09:34:00| Telecompaper Headlines
(Telecompaper) Oracle and SAP have agreed to settle their long-running legal battle over software copyrights. SAP will pay Oracle USD 359 million to settle the case, the Wall Street Journal reports. The payment is much smaller than Oracle originally sought. An appeals court in August threw out a USD 1.3 billion jury award against SAP, calculating Oracle's true damages at USD 356.7 million. SAP agreed to pay that amount plus interest. The company said it had previously paid Oracle USD 120 million for legal fees and dismissal of some legal claims. Both sides issued statements expressing satisfaction with the settlement. Oracle filed suit in 2007 alleging that TomorrowNow, a company that SAP had acquired, illegally downloaded Oracle's software. SAP shut down the business and admitted liability. The litigation mainly revolved around the amount of damages SAP should pay.
Qihoo 360 planning USD 60 mln investment fund
2014-11-14 09:29:00| Telecompaper Headlines
(Telecompaper) Chinese internet company Qihoo 360 is planning to create an USD 60 million investment fund for global, early-stage Internet-of-Things (IoT) companies, the Wall Street Journal, citing a presentation shown by a company representative during a visit in Israel. The 360 Capital-IoT Fund will focus on investments in China, the US and Israel. During the recent visit to Israel, a representative of Qihoo met with different Israeli startups, including ones developing technology for wearable computing and connected homes, according to a person familiar with the company's activities. The company decline to provide any comments.
Tags: planning
investment
usd
fund
Deutsche Telekom to set up new USD 500 mln investment fund
2014-11-11 15:36:00| Telecompaper Headlines
(Telecompaper) Deutsche Telekom wants to set up an investment fund worth EUR 500 million for a five-year period, on top of its existing T-Venture investments. Deutsche Telekom's supervisory board has approved the setup of a specialist team of investment managers for the new Deutsche Telekom Capital Partners (DTCP), set to launch early next year. The plan doubles the group's commitment to investments in ventures and innovation. DTCP will be one of the largest investment funds in Europe, and will also advise Deutsche Telekom on existing investments in STRATO, Interactive Media, Scout, Deutsche Telekom Innovation Pool (TIP) and T-Venture. T-Venture, the venture capital fund established in 1998, will be closed to new investments but the team will remain on board and continue to manage the existing portfolio of around 100 companies. T-Venture will also retain responsibility for follow-up investments within this portfolio. New investments will be executed through DTCP. DTCP will support Deutsche Telekom's strategy as an external innovation engine through investments in venture capital, with a special focus on Germany's start-up scene. On top of that, DTCP will also expand its activities to include private equity investments in existing undertakings to foster operational cooperation between over-the-top companies and Deutsche Telekom.
Tags: set
investment
usd
fund
Telefonica to sell China Unicom stake for USD 875 mln
2014-11-10 15:22:00| Telecompaper Headlines
(Telecompaper) Telefonica is looking to sell around half of its five percent stake in Chinese mobile operator China Unicom for as much as USD 875 million. The Spanish group is offering 597.8 million China Unicom shares at HKD 11.14 to HKD 11.34 each, according to Bloomberg, which represents a 1.2 percent to 3 percent discount on the Chinese operator's last closing price in Hong Kong. Telefonica has been present in the Chinese telecommunications market since 2005 when it first acquired a 3 percent stake in China Netcom, which was then sold to Unicom in 2008. The Spanish operator then increased its stake in China Unicom to almost 10 percent in 2011 before selling around half of its shareholding in June 2012 for some USD 1.4 billion. Over the past two years Telefonica has been divesting businesses in countries such as Ireland and the Czech Republic to raise funds for acquisitions in core markets including Germany and Brazil.
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