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Tencent, Foxconn lead USD 175 mln investment in India's Hike
2016-08-16 12:11:00| Telecompaper Headlines
(Telecompaper) Hike Messenger, India's homegrown mobile messaging platform, announced that it has raised a Series D financing of over USD 175 million, in a new funding round led by Tencent and Foxconn Technology Group valuing the company at close to USD 1.4 Billion. Existing investors Tiger, Bharti Airtel and the SoftBank Group also participated in this round. This is the fourth venture capital round and the biggest to date for Hike, taking the total investment to over USD 250 million so far.
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TPG to buy RCN, Grande Com for USD 2.25 bln - report
2016-08-15 09:07:00| Telecompaper Headlines
(Telecompaper) Private-equity firm TPG has agreed to buy US cable operators RCN and Grande Communications for about USD 2.25 billion including debt, people familiar with the matter told the Wall Street Journal. Google Capital is taking a minority stake in the companies, which are currently owned by private-equity firm Abry Partners, some of the people said. The transactions could be announced 15 August. RCN provides cable, phone and internet service on the East Coast and in Chicago, while Grande offers the same services in Texas. Grande and RCN have shared management and other resources since Abry agreed to buy the two companies in 2009 and 2010, respectively. Their management, including CEO Jim Holanda, will stay on after the sale, the report said.
Walmart buys Jet.com for over USD 3 billion
2016-08-08 16:12:00| Telecompaper Headlines
(Telecompaper) Wal-Mart has agreed to buy Jet.com, a newcomer on the US e-commerce market, for USD 3 billion in cash. A portion of the cash payment will be paid over time, as well USD 300 million in Walmart shares. The takeover of Jet is expected to help Walmart improve its online position against the likes of Amazon and with young audiences used to shopping more online. Jet.com's co-founder and CEO Marc Lore previously co-founded and led Quidsi, the parent company of e-commerce sites Diapers.com, Soap.com and Wag.com, which was eventually bought by Amazon.
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Apple buys AI startup Turi for USD 200 mln - report
2016-08-08 09:14:00| Telecompaper Headlines
(Telecompaper) Apple has bought machine learning and artificial intelligence startup Turi, formerly known as Dato and GraphLab and founded by Carlos Guestrin, GeekWire reported. No financial details were given but sources with knowledge of the deal put the purchase price at around USD 200 million. The acquisition reflects a larger push by Apple into artificial intelligence and machine learning. It also promises to further increase its presence in the Seattle region. Both Apple and Turi declined to comment.
Tags: report
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startup
BlackBerry launches Android software pack for USD 1/mth
2016-08-04 08:41:00| Telecompaper Headlines
(Telecompaper) BlackBerry announced the launch of a software licensing program for its Mobility Solutions business by introducing the BlackBerry Hub+ for Android. As the company moves away from producing its own smartphones, it hopes to bring the Blackberry software to other devices with the new licensing offer. Users can download a free trial from Google Play and access BlackBerry Hub+ from any Android device running 6.0 Marshmallow. The trial includes BlackBerry Hub, calendar and password keeper. After a free 30 days, users can continue using the apps for free with an ad-based experience, or subscribe to the entire suite of apps for USD 0.99 a month, which will include the additional features contacts, tasks, device search, notes and launcher.
Tags: software
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