tech:

taffy

Globecomm To Be Acquired For $340 Million

Globecomm

Communications solutions provider Globecomm has entered into a definitive agreement with Wasserstein & Co. to be acquired for $14.15 per share in cash or roughly $340 million.

The transaction was unanimously approved by Globecomm’s board of directors, and is expected to be completed in the fourth calendar quarter of 2013, subject to customary closing conditions. 

The transaction is expected to be financed through a combination of cash provided by Wasserstein & Co. affiliates and other co-investors, as well as debt financing. Highbridge Principal Strategies has entered into a commitment letter for the debt financing.

Needham & Company is serving as financial advisor to Globecomm. Kramer Levin Naftalis & Frankel is acting as Globecomm’s legal counsel, and Jones Day is acting as legal advisor to Wasserstein & Co. U.S. Space advised Wasserstein & Co.

[Image courtesy: Globecomm]

Just in

Apple sued in a landmark iPhone monopoly lawsuit — CNN

The US Justice Department and more than a dozen states filed a blockbuster antitrust lawsuit against Apple on Thursday, accusing the giant company of illegally monopolizing the smartphone market, writes Brian Fung, Hannah Rabinowitz and Evan Perez.

Google is bringing satellite messaging to Android 15 — The Verge

Google’s second developer preview for Android 15 has arrived, bringing long-awaited support for satellite connectivity alongside several improvements to contactless payments, multi-language recognition, volume consistency, and interaction with PDFs via apps, writes Jess Weatherbed. 

Reddit CEO Steve Huffman is paid more than the heads of Meta, Pinterest, and Snap — combined — QZ

Reddit co-founder and CEO Steve Huffman has been blasted by Redditors and in media reports over his recently-revealed, super-sized pay package of $193 million in 2023, writes Laura Bratton. 

British AI pioneer Mustafa Suleyman joins Microsoft — BBC

Microsoft has announced British Artificial Intelligence pioneer Mustafa Suleyman will lead its newly-formed division, Microsoft AI, according to the BBC report. 

UnitedHealth Group has paid more than $2 billion to providers following cyberattack — CNBC

UnitedHealth Group said Monday that it’s paid out more than $2 billion to help health-care providers who have been affected by the cyberattack on subsidiary Change Healthcare, writes Ashley Capoot.