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UPDATE 1-Anite sells travel reservation business for 45 mln stg
2014-05-29 23:24:28| Semiconductors - Topix.net
Anite Plc, which tests handset and telecom networks, said it had sold its travel reservation software business to the private equity arm of Lloyds Banking Group Plc to focus on its wireless business.
Tags: business
travel
update
reservation
Palo Alto to pay Juniper USD 175 mln to settle patent suits
2014-05-29 09:10:00| Telecompaper Headlines
(Telecompaper) Juniper Networks announced that it has entered into a settlement agreement with Palo Alto Networks, resolving patent litigation between the two companies. Under the terms of the settlement, Palo Alto Networks will make a one-time payment to Juniper Networks of USD 75 million in cash and USD 100 million in shares of common stock and warrants to purchase common stock. Juniper Networks and Palo Alto Networks will dismiss all patent litigation pending in Delaware and California and license each other the patents involved in the infringement suits for the life of the patents. The two also agreed not to sue each other for patent infringement for eight years.
Atos announces EUR 620 mln takeover bid for Bull
2014-05-26 08:44:00| Telecompaper Headlines
(Telecompaper) French-based international IT services company Atos and enterprise data group Bull have announced the intended public offer in cash by Atos for all of Bull's issued and outstanding shares. Atos intends to create a big data & cybersecurity entity under the Bull brand with revenue of about EUR 500 million. Both Atos and Bull's boards of directors have given their support for the transaction. Crescendo Industries and Pothar Investments, which own 24.2 percent of Bull, have committed to tender their shares to the Atos bid. The offer is set at EUR 4.90 per Bull share, a 22 percent premium over Bull's closing price of EUR 4.01 on 23 May, the last trading day before the announcement. The offer will target Bull's outstanding OCEANE convertible bonds at EUR 5.55 each. The offer values Bull at approximately EUR 620 million. The operation is intended to create Europe's biggest player in cloud operations and a leading cybersecurity solutions provider and release EUR 80 million in annual cost synergies after two years.
CWC plans USD 250 mln extra investment to boost growth
2014-05-21 16:33:00| Telecompaper Headlines
(Telecompaper) Cable & Wireless Communications announced plans to invest an additional USD 250 million in the next three years to boost growth and improve the quality of its services. This will result in total capital expenditure for the period to March 2017 of USD 1.05 billion, after spending USD 306 million last year. The Project Marlin investments follow the disposal of its activities outside Latin America, a sharp reduction in debt with the proceeds and a strategic review of its remaining assets. The investment will go to developing mobile leadership in its markets, fixed-mobile convergence, a stronger TV offering and more business services. It should result in a reversal of the historic decline in revenues and "modest" top-line growth, as well as a mid to high single-digit CAGR in EBITDA in the period to March 2017, supported by optimisation of back office processes. In addition, CWC targets an improved Net Promoter Score and an incremental return on invested capital. The plans were unveiled with its annual results for the year to March 2014, showing revenues from continuing operations down 4 percent to USD 1.873 billion. EBITDA was up 5 percent to USD 608 million, and net profit, excluding one-time items, increased 45 percent to USD 148 million.
Tags: extra
plans
growth
investment
Spotify reaches over 10 mln paying customers
2014-05-21 14:43:00| Telecompaper Headlines
(Telecompaper) Spotify has passed the milestone of 10 million paying customers. The streaming music service counts in total 40 million active users, including its free, ad-supported service. Its reach has grown in the past year from 36 to 56 countries. The company said it has paid more than USD 1 billion in royalties to artists since its launch in 2008. It also reported a high retention rate, with over 70 percent of the first subscribers to its premium service in 2010 still signed up for the service.
Tags: customers
paying
reaches
mln
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