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Cisco Systems Inc on Tuesday announced its first foray into the data storage market, saying it would pay $415 million to acquire privately held storage system maker Whiptail.
Cisco (San Jose, CA, USA) said it will pay cash and incentives for the acquisition, expected to close in the first quarter of 2014.
Whiptail, founded in 2008 and based in Whippany, New Jersey, makes storage systems based on flash memory chips, which allow data to move through servers with greater speed and efficiency as well as higher volume.
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Telecoms equipment maker Alcatel-Lucent has announced that Jean Raby will become its new chief financial and legal officer on September 1.
Raby is set to take over from current chief financial officer Paul Tufano, who is departing amid further organizational changes at the company, aimed at reducing its activities to a smaller number of profitable areas.
More than 1,000 device models from over 100 manufacturers have now been developed for use on 4G LTE networks, according to the latest research from the Global mobile Suppliers Association (GSA).
In its latest industry status report, the GSA says a total of 1,064 LTE device models from 111 manufacturers are now available, noting a recent acceleration of activity in this area.
Indeed, since July 2011, some 647 new device models have been announced, according to the GSA, with the number of manufacturers growing by 66% over that period.
Chinese equipment maker Huawei has taken out a $1.5 billion loan it says will be used for strategic expansion, particularly in Europe.
The loan is repayable over five years and includes a $750 million ‘equivalent term loan’ plus a $750 million ‘equivalent revolving credit facility’, with the facility available in both US dollars and euros but the euro tranche capped at €300 million.
China Mobile Ltd has awarded initial 4G contracts worth around 20 billion yuan ($3.2 billion), with Chinese firms securing more than half of the biggest prize in the global telecoms industry this year and foreign firms winning about a third, industry sources said.
Telecoms equipment makers, such as global leader Ericsson (Stockholm, Sweden) and Huawei Technologies Co Ltd (Shenzhen, China), have been waiting for China Mobile's (Beijing, China) 4G tender to lift the fortunes of an industry that has been hit by a lack of spending worldwide.
Network-equipment maker Aruba Networks Inc (Sunnyvale, CA, USA) reported a 10 percent rise in fourth-quarter revenue as demand for its products rose and it added new customers.
Net loss widened to $16.3 million, or 14 cents per share, in the three months ended July from $3 million, or 3 cents per share, a year earlier.
Revenue rose to $153.1 million from $139.2 million.
Excluding items, the company earned 12 cents per share.
Aruba's products provide secure network access across wireless and wired networks.
New cable network Al Jazeera America introduced itself to viewers on Tuesday with reports on political strife in Egypt and the impact of climate change on U.S. cities, shortly after a major pay TV distributor declined to carry the channel.
The decision by AT&T's (Dallas, TX, USA) U-verse pay-TV service stemmed from a contract dispute over terms to carry the new network, AT&T spokesman Mark Siegel said.
Al Jazeera (Doha, Qatar) responded by suing AT&T for breach of contract in Delaware Chancery Court.