Technology News

Four large deals boosted acquisitions of Israeli tech firms in 2018

TEL AVIV (Reuters) - Acquisitions of Israeli high-tech companies totaled $11.1 billion in 2018, up from $6.3 billion in 2017, boosted by four deals valued at more than $1 billion, a report released on Tuesday showed. The number of transactions however dropped 20 percent to 89 last year, according to the report by the Israel Venture Capital Research Center and the Meitar law firm. The 2017 data exclude the $15 billion...

15 Jan 11:40 AM 0 Read More...

Nokia to shed 350 jobs in Finland as part of cost cuts

HELSINKI (Reuters) - Finnish telecom equipment maker Nokia is cutting 350 jobs in Finland as part of its plans to find savings worth 700 million euros ($800 million) by next year. “The planned changes are indispensable to secure Nokia’s long-term competitiveness,” Tommi Uitto, head of the company’s Finnish operations, said in a statement on Tuesday. At present, Nokia has around 6,000 employees in Finland. The...

15 Jan 11:39 AM 0 Read More...

Take-Two, NBA sign licensing deal of up to $1.1 billion: WSJ

(Reuters) - Take-Two Interactive Software Inc will pay the National Basketball Association (NBA) and its players’ union up to $1.1 billion over seven years, the WSJ reported on Tuesday, citing a person familiar with the matter. The agreement allows Take-Two’s 2K studio to continue making its NBA 2K videogame franchise and other NBA-branded games, including smartphone apps, according to the WSJ report. The deal va...

15 Jan 11:36 AM 0 Read More...

Huawei founder says firm does not spy for China

SHANGHAI (Reuters) - Huawei’s [HWT.UL] founder Ren Zhengfei on Tuesday rejected claims his company is used by the Chinese government to spy and said he missed his daughter, who is being held by Canadian authorities, the Financial Times newspaper reported. Meng Wanzhou, Huawei’s chief financial officer, was detained in Canada last month at the request of U.S. authorities who allege she misled banks about the comp...

15 Jan 11:17 AM 0 Read More...

Facebook to invest $300 million to help local news survive

(Reuters) - Facebook Inc (FB.O) will invest $300 million over three years in local news globally as it faces blistering criticism over its role in the erosion of the news business worldwide. The investment in time and money is a significant expansion of a plan to help newsrooms in the U.S. and abroad create and sustain viable business models to survive, the company said on Tuesday. Unlike earlier investments in the n...

15 Jan 11:03 AM 0 Read More...

Swiss auction for 5G frequencies poised to kick off

ZURICH (Reuters) - Switzerland aims to launch an auction this month for frequencies needed to provide fifth-generation (5G) mobile services, in a contest likely to include established rivals Swisscom, Sunrise and Salt Mobile. Telecoms operators are keen to get 5G spectrum for an edge in new digital services such as powering the Internet of Things, industrial automation and autonomous vehicles. The Federal Office of...

15 Jan 10:42 AM 0 Read More...

Japan's Otsuka, Israel's Poliakine to collaborate on AI applications

JERUSALEM (Reuters) - One of the owners of Honda Motor Co is partnering with an Israeli tech pioneer to develop artificial intelligence applications that will enable the future of Industry 4.0. The collaboration will combine Hiroshi Otsuka, head of Musashi Seimitsu Corp that is partly owned by Honda, and Ran Poliakine, founder of Poliakine Innovation, they said on Tuesday. Industry 4.0 is a term coined by German manu...

15 Jan 10:35 AM 0 Read More...

German court throws out Qualcomm's latest patent case against Apple

FRANKFURT (Reuters) - A patent lawsuit filed by Qualcomm Inc against Apple Inc was thrown out by a German court on Tuesday, in a reversal for the U.S. chipmaker after it won a recent court ban on the sale of some iPhones in the country. The regional court in the city of Mannheim dismissed the Qualcomm suit as groundless in an initial verbal decision, saying the patent in question was not violated by the installation ...

15 Jan 10:32 AM 0 Read More...

China's ByteDance launches video chat app, moves in on Tencent's turf

SHANGHAI (Reuters) - China’s ByteDance Technology unveiled a new video messaging app called Duoshan, a move which analysts say will see it muscling into a space dominated by Tencent’s WeChat messenger. ByteDance is one of China’s fastest growing start-ups and owns the country’s leading news aggregator Jinri Toutiao and short video platform TikTok. It is considering an IPO in Hong Kong this year, Reuters has ...

15 Jan 10:28 AM 0 Read More...

GM electric vehicle strategy last chance for Cadillac's success: executive

DETROIT (Reuters) - General Motors Co’s strategy to make its luxury Cadillac marque its lead electric vehicle brand is the automaker’s final opportunity to turn the unit around and make it a success, a top executive said on Monday. “We don’t have any chances left with taking Cadillac to a really new place,” newly appointed GM President Mark Reuss told Reuters on the sidelines of the Detroit auto show. “Th...

14 Jan 8:53 PM 0 Read More...