After the sale Yahoo will be left with cash, investments in Alibaba and Yahoo Japan, and some patentsAiling Yahoo is selling of its operating business for about US$4.8 billion to Verizon Communications, in a cash deal that will reduce the storied tech firm to mainly holding its cash, stakes in Alibaba and Yahoo Japan and non-core patents.For Verizon, the acquisition will help it gain Yahoo s 1 billion monthly active users, its internet properties and key applications like search and email, and its advertising systems.Verizon is not unfamiliar to the acquisition and integration of web companies after its 2015 acquisition of AOL for $4.4 billion, when it acquired similar assets.The transaction is expected to be completed by the first quarter of next year, subject to regulatory approvals, ending a long-drawn out bidding process for the company.After the transaction is closed, Yahoo will be integrated with AOL under Marni Walden, its executive vice president and president of the Product Innovation and New Businesses organization at Verizon, the communications company said Monday.
Yahoo s 20-plus year tenure as an independent company is no more, with news that it has been acquired by Verizon for $4.83 billion.Word spread over the weekend about the pending deal, but now it s official.As part of the acquisition, Yahoo will be integrated with AOL under Marni Walden, Verizon s EVP and president of product innovation and new business organization.Just over a year ago, we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers, said Lowell McAdam, Verizon chairman and CEO, in a press release.The acquisition of Yahoo will put Verizon in a highly competitive position as a top global mobile media company, and help accelerate our revenue stream in digital advertising.The selection of Verizon wasn t exactly a surprise, as it had always been the presumptive front-runner in the bid to purchase the once-mighty search engine company.Near the beginning of the year, Yahoo announced that it was implementing an aggressive strategic plan, having exhausted all attempts at a successful turnaround.After four years of leadership under CEO Marissa Mayer, shareholders had lost patience, which led to their ultimately putting the company on the market for interested buyers.To be fair, Yahoo had been on shaky ground long before Mayer took the helm, with previous CEOs implementing layoff after layoff to reduce costs.
Now we want the Indian giant bet big on mainframes in Gothenburg. Some threats remain, but on the whole process goes according to plan. - Thanks to detailed planning and execution and the good cooperation between Volvo and HCL teams so things are on track. Pankaj Tagra however, clarified in February that there was a great difference between Boss Media, a business that they went in and took over, and Volvo IT, which is a hefty investment of 900 million. But all the storm clouds as I said not dissipated. According to Computer Sweden's data, there have been a lot of sick leave in connection with the takeover process.
SUNNYVALE -- Ending a storied chapter in Silicon Valley history, Verizon is the winning bidder for Yahoo's internet business, and will pay $4.83 billion for the core of the troubled company, the two firms confirmed Monday.Yahoo's stakes in Chinese commerce giant Alibaba and Yahoo Japan, worth about $40 billion combined, will remain with the Sunnyvale firm, which will be renamed as a registered investment company.Yahoo CEO Marissa Mayer said in a conference call Monday she would stay on through the transition."Mayer, if ultimately let go by Verizon, would reap a $55 million golden parachute, according to a Securities and Exchange Commission filing.The sale proceeds, minus money needed to operate Yahoo until the deal closes, plus $7.7 billion Yahoo has in cash, will be returned to shareholders, McInerney said.The sale caps five months of speculation about the fate of the once-mighty tech icon and highlights the dramatic fall of a company that had a market capitalization of more than $125 billion during the dot com boom.It also marks the end of Yahoo CEO Marissa Mayer's unsuccessful efforts to turn around the company.
View photosMoreMobile memory chips made by chipmaker SK Hynix are seen in this picture illustration taken in Seoul May 10, 2013.REUTERS/Lee Jae-Won/Illustration/File Photo GLOBAL BUSINESS WEEK AHEAD PACKAGE - SEARCH "BUSINESS WEEK AHEAD JULY 25" FOR ALL IMAGESSEOUL Reuters - South Korean memory chip maker SK Hynix Inc on Tuesday tipped a strong pickup in DRAM memory chips for mobile devices in the second half after its second-quarter operating profit fell to its lowest in more than three years.2 memory chip maker after Samsung Electronics Co Ltd said key clients would launch new smartphone products, boosting a market which has been hurt by weak demand for consumer electronics."The third quarter is a time when demand from key clients for new smartphone products rises significantly, which will have a positive effect," SK Hynix said in a statement.SK Hynix said in a regulatory filing its April-June profit was 453 billion won $397 million , the lowest since the first quarter of 2013 and matching analysts' estimates from a Thomson Reuters StarMine SmartEstimate survey.
View photosMoreJournalists attend the presentation of the Huawei's new smartphone in Paris, May 7, 2014.HONG KONG Reuters - Huawei Technologies Co Ltd HWT.UL , one of the world's largest telecoms equipment makers, on Monday posted a 40 percent rise in first-half sales revenue and said it would "maintain current momentum" this year.Sales revenue reached 245.5 billion yuan $36.8 billion in the first six months of 2016, the company said in a statement.Operating margin fell to 12 percent from 18 percent in the previous half-year, it said.The Shenzhen-based private company, which competes with Sweden's Ericsson for the top spot in the global market for telecoms equipment, did not elaborate in its brief statement."We are confident that Huawei will maintain its current momentum, and round out the full year in a positive financial position backed by sound ongoing operations," Chief Financial Officer Sabrina Meng said in the statement.
TOKYO Reuters – Shares in Nintendo Co tumbled as much as 18 percent on Monday after the company said Pokémon Go would have a limited impact on its earnings – their biggest setback so far after a huge run-up on the smash-hit game.The Kyoto-based gaming company, which is due to report first-quarter results this week, surprised markets with a statement on Friday that income garnered through its 32 percent stake in affiliate Pokémon Company, which owns the licensing rights, would be limited and that it did not plan to revise its earnings outlook for now.Recording its biggest decline since October 1990, the stock ended down 17.7 percent, or by 5,000 yen – the daily limit allowed.But some market players said Nintendo was being disingenuous, adding that there were few expectations of upward revisions to its profit targets so early after the game s launch and that it was clear the game would be key to earnings.The market has overreacted to the Nintendo statement, said David Gibson, a senior analyst at Macquarie Securities Group, noting the game in Japan had broken records with 10 million downloads in one day.I believe that Pokémon Go will be material in the company s earnings given the current trends for the game.Pokémon Go s success has triggered massive buying in Nintendo shares and even with Monday s decline, the shares are still up some 60 percent compared with levels prior to the game s July 6 launch in the United States, Australia and New Zealand, adding nearly $12 billion in market value.Yasuo Sakuma, portfolio manager at Bayview Asset Management, said he still saw the company s shares as cheap given the potential for Nintendo to reap rewards from other strong character franchises as it forays deeper into mobile gaming.Nintendo is well-placed to boost its earnings with its other characters, such as Super Mario and Zelda and their potential is unknown, he said.Pokémon Go is Nintendo s first venture into mobile gaming as the company had until recently been keen to protect its console business from cannibalization.In addition to its stake in Pokémon Company, Nintendo has an undisclosed holding in Niantic Inc – the game s developer, which was spun off from Google.It is also expected to benefit from sales of Pokémon Go Plus – an accessory that alerts players to nearby Pokémon so that they don t have to always be looking at their smartphones.Nintendo said, however, that sales of the device have already been factored into its earnings outlook.Nintendo, which reports earnings on Wednesday, has forecast a 37 percent rise in operating profit to 45 billion yen $425 million in the year to March.
Despite reportedly laying off as much as 20% of its staff, Cyanogen Inc. will continue to operate as normal, with nary a change in its goals or products.It's also good news for the Android ROM community at large, even those who don't subscribe to the startup, as it means that CyanogenMod will also continue to exist, despite rumors that Cyanogen is shifting to an "apps only" business.These was the reassuring statement made by Steve Kondik, better known as the progenitor of CyanogenMod and now co-founder and CTO of Cyanogen Inc.The Android community was abuzz when reports of Cyanogen downsizing its workforce started to flow.There was speculation that the startup would be changing gears to focus simply on Android apps.In effect, this would mean that it would be abandoning its patronage of and contributions to the CyanogenMod, leaving it entirely in the hands of the community, made up primarily of unpaid volunteers.
Huawei Technologies Co. s revenue growth accelerated in the first half as upgraded smartphones and network gear helped China s largest vendor of telecommunications equipment counter deteriorating global demand.The world s third-largest smartphone brand grew revenue 40 percent to 245.5 billion yuan $37 billion in the first six months, the Shenzhen-based company said in a statement.That s up from the 30 percent growth it managed in the first half of 2015.Founded in 1987 by former army engineer Ren Zhengfei, Huawei has sprung to the vanguard of a crop of Chinese smartphone vendors trying to compete with global leaders Samsung Electronics Co. and Apple Inc.The company used its business of selling networking gear to bankroll an expansion into premium phones, becoming China s biggest mobile label last year.It plans to sustain its pace of investment in research as carriers prepare to build fifth-generation broadband networks in coming years.We are confident that Huawei will maintain its current momentum, and round out the full year in a positive financial position backed by sound ongoing operations," Chief Financial Officer Sabrina Meng said.Competition, however, is weighing on profitability.Huawei s operating margin came to 12 percent in the first half, narrowing from 18 percent in the same period last year.Huawei didn t break out the performance of individual units of a business that also encompasses cloud computing and enterprise services.
1 U.S. wireless operator is betting that it can take data on more than 200 million unique monthly visitors to Yahoo sites, many of them on mobile devices, and combine it with data on 150 million or so unique monthly AOL users and data on its own user base of over 100 million wireless subscribers to offer a more targeted service for advertisers.The deal likely means more investment in popular content sites such as AOL s Huffington Post and Yahoo Finance when they become part of a much larger entity.The deal came after activist investors led by Starboard Value LP lost faith in Yahoo Chief Executive Officer Marissa Mayer, who was hired in 2012, and forced what became a protracted sale process.Yahoo, founded in 1994, was a dominant player in the early days of the internet, but has long lost its leadership position in internet search and advertising to Alphabet Inc's Google, Facebook Inc and others.Marni Walden, head of product innovation and new business at Verizon, will head the combined internet unit and said no decisions had yet been made on the management team."Yahoo gives us scale that is what is most critical here," said Walden, adding that the company's audience will go from the millions to the billions.
Can't live with them, can't live without them.Some coworkers make you feel so lucky to work with such incredible people day in and day out.Having healthy relationships with your coworkers isn't just critical for your career, but for the company you work for as well.Clashing with an unruly employee or supervisor at least once or twice in your career is inevitable, but do you know the steps to take when your feathers get ruffled?Join us Wednesday, July 27 at 2 p.m.ET for our next BizChats Twitter chat, where we ll be discussing how to mend relationships with coworkers that simply just drive you crazy.
Tune in 8/4 at 10:30 a.m. PT.Instagram announced that it will offer business tools, which include business profiles, analytics and promoted posts.After hundreds of interviews with businesses, three key needs became clear -- stand out, get insights and find new customers, the release on official Instagram blog says.So, to allow businesses to stand out, the platform will offer free business profiles that enable managers to choose a preferred way of getting in touch with them -- call, text or email with a tap of the contact button.Analytics and ads will also be available to business profiles.Finally, the ability to promote will be similar to the current option of boosting posts on Facebook -- by simply clicking a button, you can promote your select posts.
A new digital-only bank pitched at small businesses has raised $2 million £1.5 million from some of the UK's top entrepreneurs and investors after secretly building its product for over aIt is an unusually large funding round for a startup that has yet to launch its product.Backers include: LocalGlobe, the VC firm set up by renowned London investors the Klein
Donald Trump has mastered technology when it comes to running a viral campaign on both Twitter and Facebook.But when it comes to policies related to technology, Silicon Valley leaders have criticized the candidate for not being clear on what his agenda for the industry would be in office.Trump has been endorsed by one tech luminary, Peter Thiel, but many others in the tech industry have called Trump a "danger to innovation." Here's why many in Silicon Valley feels so threatened by a Trump presidency: View As: