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Rockwell pays USD 1 bln for stake in PTC
2018-06-11 16:53:00| Telecompaper Headlines
(Telecompaper) Rockwell Automation will pay USD 1 billion for an 8.4 percent stake in Boston-based PTC. When the transaction completes, Rockwell Automation CEO Blake Moret will join PTC's board of directors and the two companies will combine their resources, technologies, industry expertise and market presence.
Ant Financial secures USD 14 bln in funding round
2018-06-08 08:26:00| Telecompaper Headlines
(Telecompaper) Ant Financial, the m-payment services provider carved out of Alibaba Group, has raised USD 14 billion in its latest funding round. The financing included a US dollar tranche backed by Singaporean fund GIC, as well as Warburg Pincus, Canada Pension Plan Investment Board, Silver Lake and Temasek, Bllomberg reports, citing an Ant Financial statement. A yuan denominated component of the funding was provided mainly by existing shareholders.
Tags: financial
round
usd
funding
ZTE agrees to pay US govt USD 1 bln in exchange for end to sanctions
2018-06-07 17:53:00| Telecompaper Headlines
(Telecompaper) ZTE has agreed pay a penalty of USD 1 billion to end the US commerce department's 7-year ban on buying from US suppliers, CNBC reported, citing a statement from Commerce Secretary Wilbur Ross. Under the deal struck with the US, ZTE will have to pay the fine and have a US-chosen compliance team embedded at the company. The company will pay for the team. The deal also requires ZTE to change its board of directors and executive team within 30 days.
Microsoft buys GitHub for USD 7.5 bln in stock
2018-06-04 15:37:00| Telecompaper Headlines
(Telecompaper) Microsoft has acquired software development platform GitHub for USD 7.5 billion in stock. The platform has over 28 million developers using it. Microsoft VP and Xamarin founder Nat Friedman will become GitHub's CEO, replacing current chief Chris Wanstrath, who will become a Microsoft technical fellow, reporting to EVP Scott Guthrie, to work on strategic software initiatives. To help with the purchase, Apple will probably soon launch a new and larger than normal share buyback programme. It will also use part of the remaining USD 30 billion of its current share buyback programme.
GM gets USD 2.25 bln cash injection for driverless unit, Waymo orders 62,000 more Chryslers
2018-06-01 12:53:00| Telecompaper Headlines
(Telecompaper) General Motors (GM) has announced a USD 2.25 billion investment from the SoftBank Vision Fund into its self-driving unit GM Cruise. The unit is planning to launch driverless fleet next year. The deal is subject to regulatory approval.Meanwhile, Waymo is planning to buy 62,000 more Fiat Chrysler (FCA) cars for its driverless robotaxi service, with delivery expected late this year.
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