Companies

Companies

PC Connection Acquires Softmart

IT solutions company PC Connection has acquired Softmart, a global supplier of information technology and service solutions. Softmart will continue to keep its name. The acquisition was structured as a purchase of certain assets and liabilities. Financial terms of the transaction were...

Microsoft Cutting 1850 Jobs In Smartphone Hardware Unit

Microsoft announced plans to streamline the company’s smartphone hardware business on Wednesday; a move which will impact up to 1,850 jobs. As a result, the company will record an impairment and restructuring charge of approximately $950 million, of which approximately...

Universal Music Group Buys Fame House

Universal Music Group (UMG) has acquired Fame House, a digital marketing agency whose clients include artists, brands and festivals including Eminem, Pearl Jam, Mitchell & Ness and Electric Zoo. Fame House will remain based in Philadelphia and continue to provide and expand on...

Brocade, Guiyang High-Tech Industrial Investment Group Launch China Joint Venture

Brocade and the Guiyang High-Tech Industrial Investment Group (HTII), have signed a joint venture agreement to establish Guizhou Huiling Technology (GHTC). The joint venture combines Brocade's leading data center networking solutions with Guiyang's Big Data solutions. GHTC will also support...

Microsoft, Facebook Team Up To Build Subsea Cable Across The Atlantic

Microsoft and Facebook have signed an agreement to build a subsea cable across the Atlantic.  The new 'MAREA' cable will help meet the growing customer demand for high speed, reliable connections for cloud and online services for Microsoft, Facebook and...

DMTF Appoints HP To Board Of Directors

Distributed Management Task Force (DMTF), an industry standards organization working to simplify the manageability of network-accessible technologies through open and collaborative efforts, has appointed HP to the organization's board. HP joins 13 other technology companies on the DMTF board, including Broadcom, CA Technologies,...

Red Bull Takes Equity In GoPro

GoPro and Red Bull are joining forces on a multi-year, global partnership that includes content production, distribution, cross-promotion and product innovation. As part of the agreement, Red Bull will receive equity in GoPro, and GoPro will become Red Bull's exclusive...

Samsung Opens Photovoltaic Paste Plant

Samsung SDI will start operating a photovoltaic (PV) paste production line in its Wuxi Plant located in Jiangsu Province, China.  Operations will start at 40 tons a month and will go up to 100 tons a month in the future,...

HP Enterprise Services To Merge With CSC

Hewlett Packard Enterprise, the technology solutions company that split off from HP only last year, plans for a tax-free spin-off and merger of its enterprise services business with CSC. The spin-off and merger is the logical next step in the turnaround of...

Microsoft Sells Off Feature Phone Business For $350 Million

Microsoft has reached an agreement to sell the company’s entry-level feature phone assets to FIH Mobile, a subsidiary of Hon Hai/Foxconn Technology Group, and HMD Global for $350 million. As part of the deal, FIH Mobile will also acquire Microsoft...

Apple Opens Development Office In Hyderabad

Apple is opening a new office in Hyderabad, that will focus on development of Maps for Apple products.

Starbreeze, Acer Form Virtual Reality JV

Starbreeze and Acer have signed a letter of intent to form a joint venture for the StarVR Virtual Reality (VR) Head-Mounted Display (HMD). The two companies aim to cooperate on the design, manufacturing, promotion, marketing and sales of the StarVR HMD to the professional- and location-based entertainment market.

BET Networks CEO Debra Lee Joins Twitter Board

Twitter has appointed Debra L. Lee, chairman and CEO of BET Networks, a media and entertainment subsidiary of Viacom, to serve as a board member of the company. Ms. Lee will also serve as a member and chairperson of the Nominating and...

Microsoft, Elecom Partner

Elecom and Microsoft Technology Licensing will be partnering on a range of business solutions for customers including network attached storage (NAS) and tablets, says Microsoft. Elecom is a global manufacturer of peripheral and accessory products for personal computers, smartphones, tablet...

Letgo And Wallpop Merge

Letgo, a mobile marketplace for secondhand goods, is merging U.S. operations with rival Wallapop. The combined entity will be majority owned and managed by letgo, and will operate under the letgo brand on the letgo platform. Existing shareholders will be...