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.
NEW DELHI: Country’s second largest software services firm Infosys is focusing on entering new segments and acquiring small innovative companies as the company looks to get its industry bellwether status back. Speaking at analysts meet, Infosys CEO Vishal Sikka said the company will look at firms working on “technologies of tomorrow” like artificial intelligence (AI) and automation for acquisition.
SINGAPORE–Singapore sovereign wealth fund GIC will buy IndCor Properties, one of the biggest industrial landlords in the United States, from parent firm Blackstone for a whopping US$8.1 billion, the companies said Tuesday. Blackstone said in a statement posted on its website that the deal is expected to close in the first quarter of next year. It said that as a result of the transaction, Chicago-based IndCor will no longer be pursuing an initial public offering.
MUMBAI: Cloud computing firm 8K Miles Software Services today acquired US-based SERJ Solutions for around Rs 16 crore to step up its presence in the healthcare market. 8K Miles — the only listed cloud computing firm in the country — said that it expects Rs 45 crore in incremental revenue in the first year. Commenting on the deal, 8K Miles Founder Chairman and Chief Executive Suresh Venkatachari said the buyout will help the company serve hospitals and healthcare providers by providing end-to-end software as a service tech platform.
GMO Internet is a classic case of a wildly successful Japanese tech company largely unknown outside the island nation. The online infrastructure company is essentially a one-stop shop for establishing an online presence. Enjoying a market cap of over US$1 billion has made GMO Internet one of the top dogs in Japan’s tech scene but the firm is largely absent from the world stage. Even its strongest overseas acquisition, the security firm GlobalSign, arguably has a stronger individual brand than its powerful parent.
Xiaomi has confirmed it will invest US$300 million in Baidu-backed online video portal iQiyi for an undisclosed stake in the company, according to Techweb. The money is part of Xiaomi founder Lei Jun’s pledged US$1 billion to accelerate content acquisition. Lei’s personal fund also participated in the investment. Last week, the company also revealed it would invest an undisclosed amount into Youku Tudou, another leading video portal in China.
Southeast Asia’s ecommerce scene was rocked yesterday when Naspers, Schibsted Media Group, Telenor Group, and Singapore Press holdings (SPH) put an end to their rivalry, and decided to join forces instead. There are four Asian countries affected by this change: Indonesia, Thailand, the Philippines, and Bangladesh. Brad Porteus, OLX CEO of Southeast Asia, explains to Tech in Asia how OLX’s operations will change in those four countries.
U.K.-based Colt Group announced intent to acquire Japan’s KVH for €130.3 million (about $162 million). KVH expands Colt’s capabilities in key Asian markets and its ability to serve multi-national customers overall. The transaction is subject to shareholder approval. The two companies have complementary businesses with similar technology, platforms, business models, and product sets. Both KVH and Colt are owned by Fidelity Investments, which bailed Colt out in 2001 when the telecom bubble burst.
Software major Infosys is in the race to acquire CIMPA, the engineering services unit of Airbus, people familiar with the development said, making it potentially the first acquisition after Vishal Sikka took charge as CEO over three months back. The deal will help Infosys deepen its presence in the engineering services space, a segment that currently contributes to less than 5% of its revenues. Sources said Infosys could also get a revenue assurance from Airbus as part of the deal.
Lenovo and Google jointly announced that Lenovo formally completed its acquisition of Motorola Mobility from Google, and this now makes Lenovo the third largest smartphone maker in the world. Yang Yuanqing, chairman and chief executive officer of Lenovo Group, said that while enhancing the company position as the third largest smartphone maker in the world, Lenovo will challenge the top two competitors.
Smartphone maker Xiaomi plans to buy a stake in Chinese video portal Youku Tudou. The dollar amount and size of the stake were not disclosed, but the companies said the deal will take place on the open market. Last week, Xiaomi pledged to invest US$1 billion to beef up its video content offerings. The deal with Youku means the two Chinese tech firms will jointly fund the production and distribution of online films and TV shows.
Telstra will acquire Brisbane-based network solutions and information security specialist Bridge Point as part of an ongoing effort to bolster its network applications and services business. The 14 year-old Telstra partner counts 75 employees on its books and services government and enterprise clients including Queensland Health, Transport and Education, as well as Suncorp, Virgin Australia, Tatts Group and BP, according to its website.
Japan’s Softbank plans to acquire Korean TV show portal DramaFever, according to a press release published on Business Wire . The five-year-old startup has raised US$12 million up to this point, some of that coming from YouTube co-founder Steve Chen. The site has a wide range of international TV shows, but is mostly known for its Korean dramas.
Taiwan-listed gaming company XPEC Entertainment plans to invest NTD5.34 billion, which is about CNY1.068 billion, to acquire the entire stake of the mainland mobile game platform Tongbu Technology Limited. According to reports in Taiwanese local media, XPEC will hold a shareholder meeting in November 2014 to discuss the acquisition, which will then be reviewed by the Taiwanese government. The deal is expected to be closed in the first half of 2015.
Red-hot Chinese startup Xiaomi has long since ventured out from its initially territory of smartphones, getting involved in everything from blood pressure monitors to game controllers – and that’s just in the past few weeks! But according to a Tencent Tech report , the company is also expanding into the world of GPS and mapping via a planned investment in Careland.
China Huaxin Post & Telecommunication Economy Development Center formally announced that the company has completed the acquisition of Alcatel-Lucent Enterprise, a subsidiary of Alcatel-Lucent. China Huaxin and Alcatel-Lucent have jointly established a controlling company, which will be responsible for the global operation of Alcatel-Lucent’s enterprise business. China Huaxin holds a 85% stake in the joint venture, while Alcatel-Lucent owns the remaining 15% stake.