Mobile internet demand boosts Allot second-quarter profit

Reuters

Allot Communications , which supplies technology that allows telecoms operators to monitor and allocate bandwidth, posted a forecast-beating rise in quarterly profit as revenues rose more than 40 percent, helped by surging demand for fast internet on mobile devices.

However, the initial positive reaction that sent Allot's Tel Aviv shares 2.7 per cent higher by the close was tempered by concern over deal flow and the company's simultaneous announcement of its second acquisition in four months.

General Motors and OnStar join Pecan Street

General Motors and its technology subsidiary OnStar have announced plans to join the smart-grid project being led by Pecan Street in Texas.

Pecan Street, a non-profit research and development consortia based at the University of Texas, is testing a clean-energy smart grid in a neighbourhood in Mueller, about three miles from Austin. The project has received some $10.4 billion from the Energy Department and about $14 billion from project partners.

Verizon completes takeover of Hughes Telematics

US network operator Verizon has completed its acquisition of M2M player Hughes Telematics, saying the deal will help it to expand its capabilities in automotive and fleet telematics.

Hughes will become a part of Verizon Enterprise Solutions, which already provides M2M services to the automotive, transportation and healthcare industries, among others.

Sensus acquires stake in CAS Tecnologia

Smart-grid vendor Sensus (Raleigh, US) has taken a 15% stake in CAS Tecnologia, one of the largest smart-grid companies in Brazil.

The move will give Sensus exposure to the massive Brazilian market as well as the right to distribute Hermera, CAS Tecnologia’s utility data management platform, around the world.

Report: smart grids shifting to standards-based technologies

According to a new report from Pike Research, vendors are rushing to provide standards-compliant or standards-capable smart-grid technologies, driven by utilities that increasingly regard their communications networks as strategic assets.

Operators, vendors report largely disappointing results

A round-up of the most important results announcements over the past few days.

OPERATORS

Latin American heavyweight América Móvil reported a 45% year-on-year fall in net profit to 13.3 billion pesos (US$1 billion), despite a 9.3% increase in revenues to 191.7 billion pesos. The decline was partly down to the weakness of local currencies, which also drove up the cost of handset subsidies. América Móvil says that with more customers opting for smartphones it is seeing pressure on its margins.

du notes profit gains, market share loss

du, the number two operator in the United Arab Emirates, has said it will focus on profitability and worry less about market share, after reporting second-quarter results earlier this week.

The operator reported an impressive 57.1% increase in net income, year on year, to 651 million dirhams ($177 million), but noted a slight fall in its mobile market share, to 46.5%, due to renewed competition from rival Etisalat.

Data of 8.7 million KT subscribers hacked in South Korea

Reuters

KT Corp., South Korea's No. 2 wireless service provider, apologized on Sunday after personal data of millions of mobile phone subscribers was hacked.

It is the latest in a string of large-scale personal information hacking cases in one of the world's most wired countries.

Police said two computer programmers had been arrested for hacking personal data of about 8.7 million KT subscribers. KT claims a mobile service subscription membership of 16 million.

Apple, Samsung take patent fight to crucial California trial

Reuters

Apple Inc and Samsung Electronics Co Ltd take their battle for mobile supremacy to court on Monday in one of the biggest-ever technology patent trials, a case with the potential to reshape a fast-evolving market they now dominate.

AT&T authorizes share buyback worth $11 billion

AT&T’s board of directors today authorized a share buyback of up to 300 million additional shares.

The amount of shares represents about 5% of its outstanding stock and would be worth some $11.1 billion according to Friday’s closing price.

“This action allows us to continue returning cash to our shareholders through dividends and buybacks while maintaining a strong balance sheet and investing in the future of our business,” said Randall Stephenson, AT&T’s chairman and chief executive.

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