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Intel sells Nand memory, storage business to SK hynix for USD 9 billion

2020-10-20 09:59:00| Telecompaper Headlines

(Telecompaper) South Korean chipmaker SK hynix has agreed to buy Intel's Nand memory and storage business for USD 9 billion. SK hynix said the move will enhance the competitiveness of its storage services, including enterprise SSDs, in the rapidly growing Nand flash space, and push it to the fore as one of the world's leading semiconductor companies. Intel said it will invest the money received into "leadership products" and to advance its long-term growth priorities, including artificial intelligence, 5G networking and the intelligent, autonomous edge.

Tags: business memory storage usd


Juniper buys 128 Technology for USD 450 mln

2020-10-19 16:52:00| Telecompaper Headlines

(Telecompaper) Juniper Networks said it has agreed to buy 128 Technology, a startup based in Massachusetts, for USD 450 million in cash, subject to adjustments. The takeover adds to its software-based enterprise networking portfolio and the takeover of Mist Systems last year.

Tags: technology usd buys mln


GTT sells infrastructure division for USD 2.15 billion

2020-10-16 15:50:00| Telecompaper Headlines

(Telecompaper) GTT Communications said it has agreed to sell its infrastructure division to investment group I Squared Capital for USD 2.15 billion. GTT interim CEO Ernie Ortega said the divestment will enable the company to better focus on network investment and the development of high-speed infrastructure services. It will also reinforce GTT's capex light business model and its strategy to develop cloud networking.

Tags: division usd billion infrastructure


Worldwide spend on cloud systems to pass USD 1 trillion in 2024 - IDC

2020-10-15 16:14:00| Telecompaper Headlines

(Telecompaper) Worldwide spend on cloud systems is expected to pass USD 1 trillion in 2024, accelerated by cloud adoption amid the coronavirus pandemic, according to the latest study from IDC, which forecasts a five-year CAGR of 15.7 percent. The research took into account cloud services, the hardware and software components underpinning cloud services, and the professional managed services around cloud services.

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Nokia predicts 5G could add USD 8 trillion to world GDP by 2030

2020-10-12 12:04:00| Telecompaper Headlines

(Telecompaper) Nokia said that 5G-enabled industries have the potential to add USD 8 trillion to global GDP by 2030, as Covid-19 accelerates medium and long-term digital investment and value creation. The '5G Business Readiness Report' by Nokia and Nokia Bell Labs finds that 5G-mature companies are growing faster and are the only ones with a net increase in productivity following the pandemic. It said 71 percent of companies will invest in 5G over the next five years, with Saudi Arabia and the US leading adoption.

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