Indonesia’s president Joko Widodo (aka Jokowi) asked the nation’s head of creative economy Triawan Munaf to ban foreign investors from acquiring several types of online businesses in the archipelago yesterday, reports CNN Indonesia. The mandate was announced as part of the president’s effort to maintain the growth of local online companies to better benefit Indonesia. The move came suddenly, as Jokowi only appointed Munaf to the position on Monday also.
Australian IT recruiting firm, Peoplebank Holdings, has been bought Japan’s largest staffing company, Recruit Holdings, in a bid to expand into the region. The acquisition reflects Recruit Holding’s vision of becoming the world’s leading integrated HR service provider by 2020, according to a company statement. Under the terms of the agreement, all Peoplebank companies have been fully acquired by Recruit Holdings from private equity majority shareholder, Navis Capital, and Leon Lau, retiring founder and chairman.
NEW DELHI: Infosys, the country’s second largest IT services firm, is open to ‘bigger scale’ mergers and acquisitions but with a caveat, it is not interested in “yesterdays” companies. The Bengaluru-headquartered company, that was once the bellwether of Indian IT industry, also says it is primarily interested in taking over innovative companies and in areas like automation and artificial intelligence.
Samsung Electronics said Thursday that it has no plans to buy BlackBerry, denying a report that the tech giant approached the struggling smartphone-maker about acquisition. “The report is totally groundless. Samsung has no interest in buying BlackBerry,” Samsung spokeswoman Lim Yoon-jeong said. The denial came a few hours after BlackBerry issued a statement also denying the report.
Samsung Electronics recently approached BlackBerry about buying the company for as much as US$7.5 billion (A$9.2 billion), looking to gain access to its patent portfolio, according to a person familiar with the matter and documents seen by Reuters. South Korea’s Samsung proposed an initial price range of US$13.35 to US$15.49 per share, which represents a premium of 38 percent to 60 percent over BlackBerry’s current trading price, the source said.
SEOUL: Samsung and Blackberry have splashed frigid water on a report that Samsung wants to make a $7.5 billion takeover offer for the struggling Canadian device maker. That, however, did not stop tech industry watchers from dissecting all the possibilities. Once strong in mobile devices, Blackberry is now an also ran, overtaken by the touchscreen offerings of Apple and Samsung. But analysts say it has technology and intellectual property that could make it attractive to Samsung, which is looking to revive growth momentum in its smartphone business faltered.
NEW DELHI: Social networking giant Twitter is in talks to acquire Indian startup ZipDial, as per a new report. ZipDial, a Bangalore-based mobile VAS company, came into prominence with its implementation of missed calls for user verification and other use cases. According to a report by TechCrunch, the deal has been already closed with the monetary value ranging between $30 to $40 million. The report cites sources as saying that the formal announcement could take place as soon as this week.
Chinese consumer electronics group TCL formally announced that they will acquire the Palm brand from HP. Li Dongsheng, chairman of TCL Group, said that the acquisition of Palm is different from the acquisition of Alcatel. Palm has its fans in America and its operating ideas are similar with Apple and this type of fandom can give Palm strength. Li said the Palm brand still has value in some of the global markets and people expect its re-emergence to continue to provide innovative products.
Alibaba announced in a statement today it has bought a majority stake in AdChina, the country’s largest independent digital advertising technology platform. The investment sum was not disclosed. AdChina will now work closely with Alimama and Aliyun, Alibaba’s marketing and cloud computing units, respectively. Together they will developed an end-to-end marketing service, which Alibaba says will allow it to increase brand-building and sales integration now used by companies and merchants.
MUMBAI: Tech MahindraBSE 4.41 % said on Friday that it acquired Switzerland’s SOFGEN Holdings Ltd in its quest to boost its financial services offering and reach its $5-billion topline target by 2015. This is the third deal Tech Mahindra has struck in as many months. In November, the company had announced it was buying Lightbridge Communications for $240 million. Earlier this week, it formed a joint venture with Avion Systems, in which it will hold a minority stake.
Taiwanese computer power manufacturer Delta announced that its subsidiary Deltronic B.V. will acquire the entire stake in Eltek ASA, a Norwegian power management and sales company, for NOK3.9 billion, which is about CNY3.3 billion. Delta’s chairman Yancey Hai and chief executive officer Ping Cheng jointly announced the news. Hai said that power electronics is the core business of Delta. As a power design company Eltek ASA mainly develops businesses in Europe, America, and emerging markets like Africa; while Delta focuses on Asia and America.
India’s homegrown instant messenger Hike has just acquired US-based voice-calling company Zip Phone, a Y Combinator startup. Hike is planning to launch free voice calling soon, and this first acquisition by the Indian company is a step in that direction. “Our mission from the get go has been to bring India online and we believe communication is at the center of that. With voice calling, we’re taking one more step towards that mission,” says Kavin Bharti Mittal, founder and CEO of Hike.
Mobile broadband provider Nokia Networks said today that it has completed the acquisition of a part of the wireless network business of Panasonic System Networks (PSN) in Japan. According to a media statement, this acquisition includes the transfer of fixed assets, employees and relevant contracts from Panasonic to Nokia Networks. The agreement also covers Panasonic’s mobile phone wireless base station system business for mobile operators and related wireless equipment system business.
SINGAPORE: Panasonic Asia Pacific announced on Monday (Jan 5) its acquisition of RFNet Technologies, a Singapore-based custom wireless, surveillance and networking solution company. Panasonic will own 51.9 per cent of the company once the acquisition is completed by the middle of January, although terms of the transaction were not disclosed, the company’s press release stated. The acquisition of RFNet will expand the commercial Wi-Fi network business in Asia for Panasonic.
SIMON SANTOW; It’s been burned before, but Telstra is going back to try and make money in Asia. Australia’s biggest telco has just spent $858 million buying the Singapore and Hong Kong-based Pacnet. Telstra’s hoping Pacnet’s underwater telecommunications cables and data centres around the region, especially in China, will help grow its business customer base in Asia. The company’s chief financial officer Andrew Penn spoke with our business reporter Michael Janda.
Telstra will spend US$697 million (A$857 million) to acquire cable operator and telecommunications provider Pacnet and gain access to Asia’s largest privately-owned submarine cable network. Australia’s largest telco last week confirmed it was in discussions with the Asian company over potential acquisition, which would include Pacnet’s 46,500km of submarine cable between the US and Asia. The purchase is subject to certain completion adjustments as well as regulatory and Pacnet financier approvals, and is expected to close mid next year.
Tencent is China’s second-biggest internet company, recently stripped of its number one spot by Alibaba. It’s also one of the country’s most active venture capitalists. While Alibaba made headlines with massive investments into big established companies, Tencent got down and dirty with early stage investments into nascent startups.
Telstra has confirmed it is in talks to buy the company that owns the world’s largest private submarine cable network, Pacnet. If successful, Telstra would take control of some 46,000 kms of undersea cable stretching between Asia and the United States. Telstra company secretary Damien Coleman confirmed the discussions in a statement on Wednesday, but said there was “no certainty” a transaction will take place.
Telstra is in discussions with cable operator and telecommunications provider Pacnet over potential acquisition, the telco confirmed today. Australia’s largest telecommunications company today informed the Australian Stock Exchange it was in negotiations with Pacnet to potentially acquire the company, but said there was no certainty a transaction would eventuate.
Power supply maker and energy management solution provider Delta Electronics on December 15 announced the acquisition of a 100% stake in Eltek ASA, a Norway-based company engaged in design, production and marketing of power supplies, at NOK3.868 billion (US$525 million) through its wholly owned subsidiary Deltronics (Netherlands) B.V.