Financial

Telecom Italia appoints Di Loreto personnel chief: Bloomberg

Telecom Italia has reportedly hired Mario Di Loreto from Italian food company Barilla to head its personnel department.

Citing sources familiar with the matter, Bloomberg says Di Loreto will take up his new position at the beginning of September, replacing Antonio Migliardi, who is resigning after five years in the job.

According to the report, the appointment will be critical to the success of the Italian incumbent’s plan to spin off its fixed-line network, which is set to involve the transfer of some 20,000 employees.

PE firm to take Globecomm private for $340 million

Reuters

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 eyes spinoff of messaging service: WSJ

Reuters

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.

Qualcomm sells Omnitracs to Vista for $800 million

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.

ARM buys Sensinode in M2M push

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 appoints new boss, receives $12 million in funding

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.

Turkcell boasts revenue, profit gains despite customer losses

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.

Huawei agrees $1.5 billion loan for strategic expansion

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 wins America Movil backing for improved E-Plus offer

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.

Axiata to raise $500 million in IPO: Bloomberg

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.

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