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Snapchat confirms USD 1.8 bln funding round
2016-05-26 15:50:00| Telecompaper Headlines
(Telecompaper) Snapchat has confirmed a Series F financing round of USD 1.8 billion, in a filing with the SEC. Of the total, USD 1.158 billion was raised in the past five months, reliable sources tell TechCrunch. Investors in the round reportedly included General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine, Glade Brook Capital, IVP, Coatue Management and Fidelity, among others. The website also obtained details on Snapchat's revenue performance, showing its turnover was just USD 59 million last year. However, sales accelerated in the second half of the year after it started more monetisation efforts, growing from USD 4 million in Q1 to USD 33 million in Q4.
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Powder Coating Market Size Worth USD 15.58 Billion by 2023
2016-05-25 20:06:37| Coatings World Breaking News
ARM acquires UK imaging firm Apical for USD 350 mln
2016-05-18 08:43:00| Telecompaper Headlines
(Telecompaper) Chipmaker ARM has announced the acquisition of UK imaging products company Apical for USD 350 million in cash. ARM described Apical as one of the UK's fastest-growing technology companies, whose advanced imaging products are currently used in more than 1.5 billion smartphones and around 300 million other consumer electronics devices, digital cameras and tablets. The acquisition is intended to support ARM's long-term growth strategy by enabling new imaging products for next generation vehicles, security systems, robotics, mobile and any consumer, smart building, industrial or retail application where intelligent image processing is needed.
Symantec to cut 1200 positions, USD 400 mln in costs
2016-05-13 11:06:00| Telecompaper Headlines
(Telecompaper) Symantec has reported results for its fiscal fourth quarter to 1 April, with revenues slipping to USD 873 million from 899 million the year before, in line with company guidance. CFO Thomas Seifert also said the company was making significant progress on its USD 400 million efficiency programme, aiming to eliminated stranded costs from the Veritas divestiture, rationalise corporate infrastructure and simplify its Enterprise Security portfolio. During a conference call after the released of its results, Symantec gave more details about the plan, saying it wants to cut about 1,200 positions, or 10 percent of its work force, and close some facilities over the next two year, the Wall Street Journal reported. The move is expected to result in a one-off charge of USD 230-280 million.
NavInfo to acquire MediaTek's AutoChips unit for USD 600 mln
2016-05-13 10:42:00| Telecompaper Headlines
(Telecompaper) MediaTek has signed a partnership agreement with NavInfo. NavInfo plans to acquire AutoChips, a Chinese subsidiary of MediaTek, for USD 600 million. AutoChips is a provider of automotive infotainment SoC services. The transaction is scheduled for completion in the fourth quarter of this year, subject to regulatory approvals. Concurrently, MediaTek plans to invest in or co-invest with NavInfo, an amount of up to USD 100 million, to cooperate in the fields of Automotive ICs and the Internet of Vehicles (IoV).
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