Frankly, if someone had told us that MySpace was just going to be shuttered, we would not have been surprised. But it looks like the sale is going ahead and bids from no fewer than half a dozen potential suitors are expected this week. If that wasn't shocking enough, the value News Corp. insists on getting out of the faltering social site is something else.
As of today it's official, Samsung is out of the hard drive business and significantly richer as a result. Samsung reportedly hoped to pull in $1.5 billion but was willing to entertain offers below $1 billion. Turns out the company didn't have to, as Seagate stepped up to the plate with a $1.375 billion offer, half of which it will pay in cash and the other half in stock. Samsung will also receive a 9.6 percent stake in Seagate, but there's more to this deal than hard drives, cash, and stock.
Google hasn’t officially announced that it’s entering the music game yet, but with yesterday’s acquisition of Canadian based music startup Pushlife for a cool $25 million, its clear the search giant is looking to make a few improvements to Androids media capabilities. Pushlife was founded by former Research in Motion employee Ray Reddy who had a passion for bringing iTunes style sync to other smartphone platforms, a hobby that seems to have paid off quite handsomely.
AT&T has agreed to buy T-Mobile for $39 billion. You already know this, and you also know that Sprint is vehemently opposed to the deal. Verizon is so far indifferent, or at least that's the face they're putting on publicly. What we don't know yet is how the FCC is going to react to the proposed acquisition, and that's what the deal ultimately hinges on. If recent comments made by an FCC official are any indication, AT&T's legal team has their work cut out for them.
When you're as big as Intel, you can afford to make high profile acquisitions one after the another, and that's what the Santa Clara chip maker is doing. Some are bigger than others, such as scooping up McAfee for a cool $7.7 billion, as opposed to purchasing an Egyptian software company for presumably a lot less. Now Intel has inked yet another deal, acquiring Silicon Hive, which Intel contracted with last year to provide parallel processing tools for its Atom processors.
OCZ shook up the solid state drive industry on Monday evening by announcing plans to acquire Indilinx Co., a privately held fabless provider of flash controllers and software for SSDs. What makes this business transaction so surprising is that OCZ is heavily invested with SandForce for its performance oriented consumer SSDs, and Indilinx, which builds the Barefoot controller, is a competitor to SandForce. Does this mean OCZ will be dumping SandForce?
Intel continues to make strategic acquisitions intended to bolster the company's mobile business. Adding to its growing portfolio of recent acquisitions, the world's largest chip maker went out and bought most of the assets of SySDSoft, a privately held software company based in Cairo. Intel also hired around 100 of the SySDSoft's electrical engineers and computer scientists.
Word on the Web is that Hewlett-Packard is seriously considering selling off its PC business, with Samsung emerging as a frontrunner to swoop in and take the reigns. Other reported suitors include Lenovo and Foxconn (otherwise known as Hon Hai Precision Industry, makers of Apple's iPhone and lots of other devices), but no one has been as aggressive as Samsung. Could a sale be imminent?
Back in July 2010, Nokia announced plans to acquire most of Motorola's wireless network infrastructure assets for $1.2 billion, a move that would make Nokia second only to Ericsson. That deal was supposed to close by the end of 2010 but was delayed until the first quarter of 2011. Now Nokia is saying the deal is again on hold, only this time the company has no idea when it's expected to close.
Western Digital, the world's second largest maker of hard drives, announced on Monday it has entered into a definitive agreement to purchase Hitachi's HDD division. Under terms of the deal, Western Digital will fork over $3.5 billion in cash and 25 million WD common shares valued at $750 million to purchase its rival. Hitachi will then own about 10 percent of Western Digital, as well as add two members to WD's board of directors.