Satellite communications provider Globecomm Systems Inc agreed to be taken private by investment firm Wasserstein & Co for about $340 million.
Wasserstein's offer of $14.15 per share in cash represents a 1.73 percent discount to Globecomm's (Hauppauge, NY, USA) closing price on Friday.
Globecomm shares fell 3 percent to $13.95 on the Nasdaq on Monday morning, trading well below the offer price. The stock had risen 24 percent to Friday since the company said in January that it was exploring strategic alternatives.
BlackBerry Ltd is considering spinning off its messaging service into a separate unit, the Wall Street Journal said on Tuesday, quoting people familiar with the matter.
The subsidiary would be called BBM Inc, the newspaper said.
A BlackBerry (Waterloo, Canada) spokeswoman told Reuters the company cannot comment on rumor and speculation.
US chipmaking giant Qualcomm has sold its Omnitracs telematics division to private-equity player Vista for the sum of $800 million in cash.
The deal is to include all the Omnitracs operations in the US, Canada and Latin America, as well as Sylectus and FleetRisk Advisors – telematics businesses that Omnitracs bought in 2011.
The transaction is expected to close between October and December after the companies have secured the necessary regulatory approvals.
Semiconductor designer ARM has announced a takeover of software company Sensinode in a move aimed at strengthening its position in the M2M market.
Financial details of the transaction were not disclosed, but ARM (Cambridge, UK) appears eager to include Sensinode’s (Oulu, Finland) NanoStack and NanoService products in its mbed project – whose purpose is to “deliver fundamental open source hardware and software building blocks for rapid development of intelligent connected devices”.
Axeda has said Todd DeSisto is to become its new chief executive and received a fresh injection of funding totaling $12 million.
The company – which develops cloud-based software and services for M2M applications – is promoting DeSisto from his current position as chief financial and operating officer.
Before joining Axeda (Foxboro, MA, USA), DeSisto worked for a variety of companies in the telecoms industry and he boasts more than 20 years of leadership experience.
Turkish operator Turkcell has reported impressive gains in revenue and earnings for the three months ending June on the back of strong demand for mobile broadband services.
The company saw revenues increase by 11%, to TRY2.86 billion ($1.43 billion), compared with the same period of 2012, while earnings before interest, tax, depreciation and amortization rose by 12%, to TRY869 million, over the same 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.
Telefonica says it has secured America Movil’s support to make an improved offer for E-Plus, KPN’s Dutch subsidiary, valuing the operator at €8.55 billion ($11.43 billion) compared with the €8.1 billion in its original offer.
The revised bid would see the Spanish operator pay KPN (The Hague, Netherlands) €5 billion in cash for a 62.1% stake in E-Plus instead of the 65% it had previously sought.
Malaysia’s Axiata is looking to raise at least $500 million in an initial public offering of tower assets, according to a report from Bloomberg.
Citing sources familiar with the matter, Bloomberg says the company – which operates Malaysia’s biggest mobile network – is working with several financial institutions on the terms of the offering, which could take place next year in Kuala Lumpur.
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.