Network equipment maker Juniper Networks has flagged a nearly six-fold increase in profits for the three months ending September on signs of improving demand for its products.
The company – which competes against Cisco in the market for internet routers and switches – said net income for its third quarter rose to $99.1 million, from just $16.8 million in the same period last year, with revenues up by 6%, to $1.19 billion.
Programmable-chip maker Altera Corp forecast current-quarter revenue below Wall Street estimates, citing fewer orders for its telecom and wireless products, sending its shares down 5 percent after the bell.
Altera (San Jose, CA, USA), which also reported lower-than-expected sales for the quarter ended September 27, forecast current-quarter revenue to be down 3 percent to up 1 percent, compared with the third quarter.
That implies fourth-quarter revenue of between $432.5 million and $450.5 million.
M2M MVNO Wyless has agreed to acquire a majority stake in Brazilian M2M operator TM Data, expanding its footprint into what is widely regarded as one of the world’s fastest-growing M2M markets.
Wyless (Lawrence, MA, USA) did not disclose the financial terms of the deal but said it would establish the new brand of Wyless TM Data Brazil.
Telematics player Kore is now making its M2M services available over the network of UK network operator EE, allowing it to meet the needs of customers across a range of new geographical markets in Europe, Africa and the Middle East.
Kore (Alpharetta, GA, USA) first announced details of the partnership at the CTIA Wireless Show held in Las Vegas in May, saying the partnership would allow the companies to jointly explore M2M programs in a number of countries.
With the US wireless association CTIA changing venues and the timing of its shows, there was some trepidation about turnout for last week’s MobileCon event in San Jose, CA (USA), but returns beat expectations. Almost 1,000 people attended opening day keynote addresses, and an informal poll of over 80 exhibitors showed that they were satisfied with turnout at the SJ Convention Center. The M2M Zone of the expo was heavily trafficked, and some of the news items released at the show included:
M2M module maker Novatel Wireless has announced a major new contract with telematics player DigiCore under which its devices will be used to support vehicle usage and driver-behavior monitoring applications.
The deal will see DigiCore (Centurion, South Africa) include Novatel’s (San Diego, CA, USA) platform in its range of Ctrack-branded telematics services, initially to support insurance-based offerings.
Networking equipment maker Tellabs has agreed to be taken over by Marlin Equity Partners for a cash payment of $891 million.
The deal represents a premium of 4.3% over the closing share price of Tellabs on October 18, according to a statement from the companies, and will see Marlin (Hermosa Beach, CA, USA) offer to acquire all outstanding shares of Tellabs (Naperville, IL, USA) for the sum of $2.45 per share no later than November 1.
AT&T has agreed a $4.85 billion deal with infrastructure company Crown Castle in a deal aimed at improving its financial flexibility and value to shareholders.
The US operator is to lease rights to approximately 9,100 of its towers to Crown Castle (Houston, TX, USA) –which will also buy another 600 towers outright – and then sublease capacity on those towers as and when required.
Japan's SoftBank Corp said on Friday it had agreed to pay $1.26 billion for a 57 percent stake in privately held cellphone distributor Brightstar Corp as it looks to boost its bargaining power with handset makers.
SoftBank (Tokyo, Japan), which owns 80 percent of No. 3 U.S. mobile operator Sprint Corp (Overland Park, KS, USA), said that under the agreement its ownership of Brightstar (Miami, FL, USA) would increase to 70 percent over the next five years, or upon certain unspecified events.
Motorola Solutions Inc is exploring the sale of its underperforming wireless LAN business, which has grappled with declining share in a market dominated by rivals such as Cisco Systems Inc, people familiar with the matter said.
An exit from the wireless LAN market would come as Motorola (Schaumberg, IL, USA), the provider of data communications and telecommunications equipment, seeks to focus on its core government and public safety division.