M2M player Sierra Wireless has announced a $5.9 million takeover of AnyDATA’s embedded modules business as it looks to strengthen its grip on the cellular market and boost its position in South Korea.
The assets are to be integrated with the Sierra Wireless (Richmond, Canada) OEM Solutions product portfolio, with 16 sales and engineering staff from AnyDATA’s (Irvine, CA, USA) South Korean subsidiary transferring to Seoul premises recently opened by Sierra Wireless.
The companies expect the deal to close sometime this month.
Middle Eastern telecoms operator Zain Bahrain has signed a managed-services deal with Ericsson as it looks to free up resources for investment in higher-end services and offerings.
The four-year agreement will see the operator transfer responsibility to Ericsson (Stockholm, Sweden) for handling the day-to-day operations of its network.
Similar deals have been struck in other parts of the world as companies try to improve their operating efficiency and focus efforts on improving their service offerings.
Telecom firm bosses on Tuesday urged the European Commission to reconsider a major reform package which includes a price cap on cross-border phone calls and an end to roaming fees, and to allow more consolidation in the sector.
Their opposition throws up obstacles for the proposals championed by EU telecom chief Neelie Kroes which aim to spur companies to invest to help Europe catch up with the fast mobile and broadband networks in the United States and Asia.
AT&T Inc Chief Executive Randall Stephenson on Tuesday said that he sees a "huge opportunity for somebody" in Europe to invest in mobile broadband and reap the big profits already being generated from such services in the United States.
Stephenson, who has been exploring opportunities for AT&T (Dallas, TX, USA) to expand into Europe, said Europe has the potential to be "incredibly exciting" during his appearance at an industry conference held by ETNO, the European telecommunications lobby.
US cable company Time Warner Cable has agreed a $600 million takeover of DukeNet Communications, which operates a fiber-optic network across various Southeastern states.
DukeNet (Charlotte, NC, USA) is currently 50% owned by Duke Energy (Charlotte, NC, USA), the country’s largest electric power holding company, with the other 50% held by investment firm Alinda Capital (Greenwich, CT, USA).
The companies expect the transaction to close in the first quarter of 2014, subject to normal regulatory approvals.
Telecom Italia's new chief executive Marco Patuano will unveil a business plan outlining the future of its South American units and a possible corporate restructuring in Italy at a board meeting on November 7, trade union officials said.
Patuano told a meeting with unions on Friday the heavily indebted former phone monopoly had put on hold a plan to spin off its fixed-line network because the right regulatory conditions were not in place, they said in a joint statement.
Private lender Bank Rossiya has reportedly filed applications to buy a 50% stake in mobile operator Tele2 Russia.
According to Russia’s Interfax news agency, the applications were made through Invinte and ABR Investments, two offshore companies.
Tele2 Russia (Moscow, Russia) is currently owned by VTB Bank (St Petersburg, Russia), Russia’s second-biggest lender, which bought the operator from its Swedish parent company for $3.55 billion in April this year.
Shares of BlackBerry Ltd rose more than 4 percent in trading before the bell on Monday, following news of interest from strategic buyers in the embattled smartphone company and an analyst upgrade on the company's stock.
Shares in the company rose above the $8 mark after a Reuters report on Friday that the Waterloo, Ontario-based company is in talks with Cisco Systems (San Jose, CA, USA), Google Inc (Mountain View, CA, USA) and SAP (Walldorf, Germany) about selling them all or parts of itself.
Portugal Telecom has announced plans to merge with Brazilian affiliate Oi in a move set to create a global operator serving more than 100 million customers across Europe and Latin America.
The Portuguese incumbent says the deal is a natural development of the alliance the two companies struck in 2010, and will see Zeinal Bava – who led Portugal Telecom (Lisbon, Portugal) until earlier this year before taking up the leadership role at Oi (Rio de Janeiro, Brazil) – appointed chief executive of the combined entity.
Pakistani incumbent PTCL is reported to have launched a takeover bid for local mobile rival Warid, holding out the possibility of much-needed consolidation in the country’s beleaguered telecoms industry.
Backed by Middle Eastern telecoms giant Etisalat (Abu Dhabi, United Arab Emirates), PTCL (Islamabad, Pakistan) is said to have given notice of the bid through a filing to the Karachi stock exchange, according to Reuters, but details of the offer price or PTCL’s plans for the company were not disclosed.