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News on Medial
Axway in discussions to buy most of Sopra Steria's SBS unit for 330 million euros
Reuters
·
1y ago
Medial
Axway, a software company, plans to acquire certain activities from Sopra Steria, a European IT services company, for 330 million euros ($357 million). The acquisition will be financed through a combination of a capital increase and new debt facilities. The agreement will strengthen the strategic partnership between the two companies, particularly in financial services, and in Europe as a whole.
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Meta offers to cut Facebook, Instagram monthly fees to 5.99 euros
Economic Times
·
1y ago
Medial
Meta Platforms has announced plans to reduce the monthly subscription fee for Facebook and Instagram from 9.99 euros to 5.99 euros following discussions with regulators. The move aims to speed up the process of reaching a stable state for these platforms. Meta's lawyer, Tim Lamb, confirmed the proposed reduction during a hearing with the European Commission. The new pricing would apply to a single account, with an additional charge of 4 euros for any extra accounts.
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Intel gets $536 million in interest from 1.06 billion euro EU antitrust fine
Economic Times
·
5m ago
Medial
Intel received 515.55 million euros in interest from EU antitrust regulators related to a 1.06 billion euro fine from 2009. After successfully appealing the fine in 2022, Intel sued for default interest, prompting the European Commission to compensate with 515 million euros. This payment reflects a growing trend of firms seeking default interest from the EU on annulled antitrust fines. Intel previously faced another fine of 376 million euros for certain anti-competitive practices.
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Italy agrees with US to oppose 'discriminatory' tech taxes
Economic Times
·
2m ago
Medial
Italy and the United States issued a joint statement opposing discriminatory taxes on digital services, signaling a potential shift in Italy's stance on such levies. These taxes, which affect major U.S. tech companies, have been contentious. Italy's current levy is 3% on digital revenue, contributing less than 500 million euros annually. While Italy seeks to balance U.S. relations and domestic pressure for increased tech company contributions, discussions on the matter continue.
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Ride-hailing firm GoTo denies merger discussions with Grab
Reuters
·
1y ago
Medial
Ride-hailing firm GoTo has denied recent reports of merger discussions with Grab. The company stated that it is currently not engaged in any such discussions. GoTo, which has been facing losses, reported positive core earnings in Q4 of 2023. GoTo had recently sold 75.01% of its e-commerce unit Tokopedia to TikTok for $840 million.
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Vodafone sells Italian unit to Swisscom in 8 billion euros deal; check details
Livemint
·
1y ago
Medial
Vodafone has agreed to sell its Italian unit to Swisscom for eight billion euros in cash, as part of the telecoms giant's efforts to overhaul its European operations. The sale of the Italian and Spanish businesses will result in a return of four billion euros to shareholders. Vodafone plans to merge its Italian subsidiary with Swisscom's Fastweb. The transaction is expected to be completed in the first quarter of 2025 and will be financed by debt. Vodafone has been implementing cost-cutting measures, including layoffs and divestments, as part of its restructuring efforts.
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Mumbai Feels The Chill As Startup Funding Plummets To A 3-Year Low Of $1.5 Bn In 2023
Inc42
·
1y ago
Medial
Mumbai, India's third-highest funded startup hub, experienced a significant decline in funding in 2023, reaching a three-year low of $1.5 billion. This represents a 62% decrease from the previous year, in line with the overall slump in funding across the Indian startup ecosystem. E-commerce, fintech, and enterprise tech were the most funded sectors in Mumbai, securing deals worth $330 million, $345.8 million, and $172.5 million, respectively. The Maharashtra government is actively supporting the startup ecosystem through initiatives like dedicated startup zones and revisions to the startup policy.
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Dutch fine Fortnite maker Epic Games for 'pressuring' kids with ads
Economic Times
·
1y ago
Medial
Dutch authorities have fined Epic Games, the maker of Fortnite, 1.1 million euros for exploiting vulnerable children and pressuring them to make in-game purchases. The Netherlands Authority for Consumers and Markets (ACM) found that phrases like "Get it now" or "Buy now" and misleading countdown timers in the game were illegal and aimed at pressuring children. Epic Games has filed an objection to the decision and proposed changes, but the ACM says the fines will stand unless the suggested modifications are implemented by June 10, 2024. Epic Games argues that the changes would negatively impact player experience.
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BE Semiconductor Industries forecasts sales drop for first quarter
Economic Times
·
4m ago
Medial
BE Semiconductor Industries (Besi), a Dutch chip parts supplier, anticipates a revenue decline in the first quarter of 2025, with sales possibly dropping by up to 10% from the 153.4 million euros recorded in the last quarter of 2024. This expected decrease is attributed to traditional market weaknesses overshadowing positive AI-related orders. Analysts had projected higher revenues of 170.2 million euros for the first quarter, as per LSEG data.
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Tata Electronics To Buy Majority Stake In Pegatron’s TN iPhone Plant
Inc42
·
8m ago
Medial
Tata Electronics and Pegatron's iPhone unit plan to form a joint venture in Tamil Nadu, with Tata Electronics holding a 60% stake. The Tata Group subsidiary may pay $150-200 million for the stake. Earlier this year, there were discussions for Tata Electronics to hold a 65% stake in a joint venture with Pegatron for their plant in Hosur.
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Spotify's user growth beats expectations, posts quarterly profit
Economic Times
·
1y ago
Medial
Spotify reported strong user growth, surpassing expectations with quarterly profit and increased forecasted monthly listeners. The company's operating income for Q3 2023 was 32 million euros, supported by higher gross margin and reduced costs. The number of monthly active users rose to 574 million, while premium subscribers reached 226 million. Spotify's revenue for the quarter was 3.36 billion euros, driven by growth in music and podcast advertising. With a positive outlook, the company aims to reach 1 billion users and $100 billion in annual revenue by 2030.
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