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Cisco buys Broadsoft for USD 1.9 bln
2017-10-23 15:07:00| Telecompaper Headlines
(Telecompaper) Cisco said it has agreed to acquire BroadSoft USD 55 per share in cash, in exchange for each share of BroadSoft, for a total of USD 1.9 billion net of cash. The transaction has been approved by the board of directors of each company.
Alibaba to double R&D spending to USD 15 bln, with eye towards 'moonshot' projects
2017-10-11 09:16:00| Telecompaper Headlines
(Telecompaper) Alibaba said it will be doubling its R&D spend over the coming three years to USD 15 billion in order to develop next-generation technology and explore moonshot projects aimed at upending industries, Bloomberg reported. Alibaba plans to set up seven research labs and hire 100 scientists around the world to push further into artificial intelligence, the Internet of Things and quantum computing, the company said in an emailed statement. Specific fields include machine learning, visual computing and network security.
Dell unveils new USD 1 bln IoT division
2017-10-11 08:35:00| Telecompaper Headlines
(Telecompaper) Dell Technologies has announced a new Internet of Things (IoT) division designed to integrate existing products and tools across the company and develop new Internet-connected devices and software. To that end, the company revealed plans to spend USD 1 billion on IoT-focused research and development over the next three years. The new division will be led by VMware CTO Ray O'Farrell, and is tasked with orchestrating the development of IoT products and services across the Dell Technologies family, including units such as units such as Dell EMC, VMware, RSA and Pivotal.
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Baidu's iQiyi looking for USD 8-10 bln valuation in IPO
2017-09-26 09:22:00| Telecompaper Headlines
(Telecompaper) IQiyi, the streaming site of Baidu, hopes to stage its initial public offering in the US early next year, Bloomberg reported, with sources saying the company is looking for a valuation of at least USD 8 billion, and up to USD 10 billion. They added however that the IPO is still in the early stages and the final valuation could change.
Telenor sells 5.1% stake in Veon, sees NOK 2.9 bln proceeds in Q3
2017-09-21 09:49:00| Telecompaper Headlines
(Telecompaper) Telenor said it is continuing the sale of its interest in Veon, formerly known as Vimpelcom. It is offering 5.1 percent of Veon's total outstanding common shares, leaving Telenor with about 256.7 million ADS, or about 14.6 percent of Veon's common shares. The underwriters have priced the 90 million common shares and ADS in the offering at USD 4.15 each, giving net proceeds of USD 365 million (around NOK 2.9 billion), which will be included in Telenor's third-quarter cash flow statement.
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