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IHS secures USD 490 mln for expansion across Africa
2014-03-03 09:40:00| Telecompaper Headlines
(Telecompaper) African telecommunications infrastructure provider IHS has secured USD 490 million of equity and debt financing for expansion across the continent. The round expanded IHS's base of institutional shareholders and was priced at a premium to IHS's last funding in July 2013. Support from existing investors was combined with strong participation from Goldman Sachs, the IFC Global Infrastructure Fund and African Infrastructure Investment Managers. This funding round brings the total amount of capital raised by IHS to more than USD 1.5 billion over the last 12 months. IHS will use the proceeds to finance acquisitions, help its customers expand coverage and capacity by building new towers and continue investing in alternative energy.
Tags: africa
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E-commerce firm Myntra raises USD 50 mn from Azim Premji, other investors
2014-02-24 14:52:14| IT Services - Topix.net
Bangalore, Feb 24: Premji Invest of Wipro chairman Azim Premji is among the private investors from whom leading e-commerce portal Myntra has recently raised an additional USD 50 million , a statement said here Monday.
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Facebook to buy WhatsApp for USD 19 billion
2014-02-20 08:22:00| Telecompaper Headlines
(Telecompaper) Facebook has agreed to buy the mobile messaging app WhatsApp for USD 19 billion. Facebook will pay USD 4 billion in cash and USD 12 billion in Facebook shares, and WhatsApp's founders and employees will also receive USD 3 billion in options on Facebook shares after closing the deal. This will give WhatsApp shareholders and staff in total 7.9 percent of Facebook's outstanding shares. Facebook will keep the WhatsApp brand, and the company's founder Jan Koum will join Facebook's board of directors. Similar to Instagram, WhatsApp will be allowed to operate independently within Facebook, maintaining its headquarters in Mountain View, California. Facebook will also continue to offer its own Messenger app, which will continue as a standalone application.
Tags: buy
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Rakuten buys Viber for USD 900 mln
2014-02-14 09:15:00| Telecompaper Headlines
(Telecompaper) Japanese e-commerce group Rakuten has agreed to buy the mobile messaging service Viber for USD 900 million. Rakuten said the deal supports its expansion in the digital content space, following its acquisitions of Kobo, Wuaki.tv and Viki. Viber's messaging and VoIP services can be offered to the some 225 million customers of Rakuten's other web services, joining its 'Super Points' rewards programmes. Rakuten said it also sees potential to expand Viber's stickers platform and develop it as a gaming service, similar to the rival Japanese messaging service Line. Viber has over 300 million registered users worldwide, after growing over 120 percent in 2013.
Indian spectrum auction raises almost USD 10 billion
2014-02-13 15:51:00| Telecompaper Headlines
(Telecompaper) The Indian government has raised over INR 611 billion (USD 9.9 billion) from the auction of spectrum licences in the 900 and 1,800 MHz bands, well ahead of its previous projections. Vodafone India said it spent INR 196 billion (USD 3.15 billion) to retain its existing spectrum in the 900 MHz band and extend and acquire new licences on the 1,800 MHz band. The mobile operator said it was pleased with the outcome of the spectrum auction, which sees it hold on to its rights in the 900 MHz band in the major cities Mumbai, Delhi and Kolkata. It also bought 1,800 MHz frequencies in 11 circles - Mumbai, Delhi, Kolkata, Karnataka, Kerala, Gujarat, UP East, Rajasthan, Haryana, Andhra Pradesh and Punjab. The company will need to pay an initial INR 56 billion this fiscal year for the licences, with the remainder spread over the life of the licences. Uninor confirmed that it acquired spectrum in the 1,800 MHz in four its existing regions, UP East and West, Bihar and Andhra Pradesh, as well as the new circle of Assam, for a total cost of INR 8.45 billion. Other bidders in the auction included Bharti Airtel, Reliance Communications, Aircel, Idea Cellular, Tata Teleservices and Reliance Jio Infocomm. The Department of Communications has released details on the winning bids for each of the new licences, but has yet to disclose the results per operator.
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