TechTaffy

tech:

taffy

Best Buy Exits Europe In $775 Million Deal

By TechTaffy Desk

Best_Buy_logo

Best Buy has entered into a definitive agreement for the sale of its 50 per cent interest in Best Buy Europe, the joint venture it created in 2008 with Carphone Warehouse. The roughly $775 million cash-and-stock deal is expected to close in June this year.

Hubert Joly (President and CEO, Best Buy): Each international market is different and the sale of our European operations should not suggest any similar action in our other international businesses.

Best Buy formed the Best Buy Europe joint venture with CPW in June 2008. The joint venture operates stores in eight countries.

Just in

Series E

Vercel raises $250M

San Francisco-based Vercel, a frontend cloud platform provider, has secured $250 million in Series E funding, bringing the company's valuation to $3.25 billion.
Series A

Worky raises $6M (Mexico)

Mexico City-based Worky, a provider of HR and payroll software solutions for Mexican companies, has closed a $6 million Series A financing round.
Industry

Amazon announces $1.31B investment in France

Amazon has announced a new investment of about $1.31 billion (€1.2 billion) in France, which the company says will lead to the creation of over 3,000 permanent jobs in the country.
Around the web

Amazon Web Services CEO Adam Selipsky to step down — CNBC

Adam Selipsky, CEO of Amazon’s cloud computing business, will step down from his role next month. Matt Garman, senior vice president of sales and marketing at Amazon Web Services, will succeed Mr. Selipsky after he exits the company June 3, writes Annie Palmer. 
AI

Palo Alto Networks, Accenture expand alliance to offer generative AI services

Palo Alto Networks and Accenture have announced the expansion of their strategic alliance to provide new offerings that combine Palo Alto Networks' Precision AI technology with Accenture's secure generative AI services.