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.
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.
China Telecom has reported a sharp rise in earnings and revenues for the first six months of the year thanks to soaring demand for the iPhone and mobile data services.
The operator – China’s third-biggest behind China Mobile (Beijing, China) and China Unicom (Beijing, China) – saw net income increase by 15.9% for the first half, to RMB10.2 billion ($1.67 billion), compared with the same period last year, while revenues grew by 14.1%, to RMB138 billion, over the same period.
Russia’s MTS swung to a net profit and reported revenue growth for the three months ending June thanks to rising demand for mobile data services and various one-off gains, including settlements related to its disputed ownership of Bitel, an operator in the Kyrgyz Republic.
UK authorities have announced their preferred suppliers for contracts worth some £2.8 billion ($4.39 billion) that form part of the nationwide rollout of a smart grid aimed at reducing energy costs and waste, with Capita, Spanish telecoms operator Telefonica and CGI among the winning bidders.
According to a statement from the Department of Energy and Climate Change, outsourcing specialist Capita (London, UK) will become the Data and Communications Company (DCC) provider in a deal worth some £175 million.