Mobile network software provider Mavenir lowers deal size by 8% ahead of $275 million IPO

Mavenir, which provides cloud-native software applications for mobile networks, lowered the proposed deal size for its upcoming IPO on Monday.

The Richardson, TX-based company now plans to raise $275 million by offering 12.5 million shares at a price range of $20 to $24. The company had previously filed to offer 13.6 million shares at a range of $20 to $24. At the midpoint of the revised range, Mavenir will raise -8% less in proceeds than previously anticipated.

The company provides a suite of cloud-native software applications for network functionality that allows wireless service providers to meet the needs of their enterprise and consumer customers. Mavenir serves over 250 wireless service providers, including 17 of the 20 largest wireless service providers and the three largest in the US.

Mavenir, formerly known as Mavenir Systems, went public in 2013 and was acquired by Mitel in 2015 for $560 million. It was

Read More

Apple, Google and a Deal That Controls the Internet

A former Google executive, who asked not to be identified because he was not permitted to talk about the deal, said the prospect of losing Apple’s traffic was “terrifying” to the company.

The Justice Department, which is asking for a court injunction preventing Google from entering into deals like the one it made with Apple, argues that the arrangement has unfairly helped make Google, which handles 92 percent of the world’s internet searches, the center of consumers’ online lives.

Online businesses like Yelp and Expedia, as well as companies ranging from noodle shops to news organizations, often complain that Google’s search domination enables it to charge advertising fees when people simply look up their names, as well as to steer consumers toward its own products, like Google Maps. Microsoft, which had its own antitrust battle two decades ago, has told British regulators that if it were the default option on

Read More

Nokia wins 5G deal with Finnish Shared Network (SYV)

Press Release

Nokia wins 5G deal with Finnish Shared Network (SYV)

  • Nokia has been selected as a supplier for SYV’s radio access network (RAN) equipment and managed services

  • The deal includes the rollout of 5G RAN equipment and modernization of existing 2G, 3G and 4G sites across northern and eastern Finland

  • Three-year rollout will begin in early 2021 and is planned to be completed by the end of 2023.

26 October 2020

Espoo, Finland – Nokia today announced it has been selected by Finnish Shared Network Ltd (SYV) – a joint operation by DNA Oyj and Telia Finland Oyj – as a supplier of 5G radio network equipment including deployment and managed services. The modernized network will enable SYV to provide advanced 5G services in a cost-efficient manner across northern and eastern parts of Finland.

The deal will see Nokia replace SYV’s current radio access network equipment, offer digital deployment

Read More

Amazon wins arbitration order against Future’s deal with Reliance

NEW DELHI/MUMBAI (Reuters) – A Singapore arbitration panel has put on hold Future Group’s $3.38 billion asset sale to Reliance Industries <RELI.NS>, an interim win for Inc <AMZN.O> which had alleged the deal between the Indian firms breached some existing agreements.

Amazon received an emergency order to halt the companies from proceeding with the deal until an arbitration tribunal is formed, a source with direct knowledge of the matter told Reuters.

Amazon last year bought a 49% stake in Future Coupons Ltd, which owns a 7.3% stake in Future Retail. In August, Mukesh Ambani’s Reliance decided to buy retail, wholesale and some other businesses of the Future Group in a deal valued at $3.38 billion, including debt.

But Amazon’s investment came with contractual rights that include a right of first refusal and a non-compete-like pact, media had reported, and Amazon later started arbitration proceedings in Singapore.

“It’s a comprehensive

Read More

Italy Vetoes 5G Deal Between Fastweb and China’s Huawei: Sources | Technology News

By Giuseppe Fonte and Elvira Pollina

ROME (Reuters) – Italy has prevented telecoms group Fastweb from signing a deal for Huawei [HWT.UL] to supply equipment for its 5G core network, three sources close to the matter said, the clearest sign yet Rome is adopting a tougher stance against the Chinese group.

The decision, made at a cabinet meeting late on Thursday, marks the first time Italy has vetoed a supply deal over 5G core networks with Huawei.

Visiting Italy in September, U.S. Secretary of State Mike Pompeo described Chinese mobile telecoms technology as a threat to Italy’s national security.

Huawei strongly rejects the charges, and its Italian unit said it was ready to undergo any scrutiny to show that its technology was safe.

However at Thursday’s meeting, the government used its special vetting powers to block Fastweb, the Italian unit of Swisscom, from implementing a supply deal with the firm

Read More

Google lawsuit a ‘huge deal’ even though Democrats didn’t join case, antitrust expert says

While a bipartisan group of lawmakers have criticized the market power of Big Tech, some might argue that the Justice Department’s new antitrust lawsuit against Google (GOOG, GOOGL) is politically motivated. Notably, the 11 attorneys general who joined the lawsuit were all Republicans, and the timing of the filing comes two weeks before the presidential election.

However, the Trump administration’s antitrust case filed against Google on Tuesday alleges even-handed claims, according to Matt Stoller, the research director for the non-profit American Economic Liberties Project, which advocates for robust antitrust regulation.

“It’s a solid complaint. It’s well argued. It’s good framing,” Stoller told Yahoo Finance’s The Final Round Tuesday, acknowledging that he is a Democrat. “It’s narrow, so it’s only handling how [Google] distribute[s] search, not the behavior they’re engaging in.”

The long-expected lawsuit filed Tuesday accuses Google of violating the Sherman Act, which prohibits actions that restrict marketplace competition. The

Read More

Huawei, China Firms Said to Seek Curbs on Nvidia’s Arm Deal

(Bloomberg) — Chinese technology companies including Huawei Technologies Co. have expressed strong concerns to local regulators about Nvidia Corp.’s proposed acquisition of Arm Ltd., people familiar with the matter said, potentially jeopardizing the $40 billion semiconductor deal.


Load Error

Several of the country’s most influential tech firms have been lobbying the State Administration for Market Regulation to either reject the transaction or impose conditions to ensure their access to Arm technology, the people said. Chief among their concerns is that Nvidia may force the British firm to cut off Chinese clients, they said, asking not to be identified discussing private deliberations.

China’s fear is that Arm — whose semiconductor designs and architecture are central to most of the world’s electronics from smartphones to supercomputers — will become yet another pawn in a U.S.-Chinese struggle for tech supremacy. Nvidia is buying the British firm from Japan’s SoftBank Group Corp., bringing it

Read More

25-Year-Old Luminar Founder Set To Become Billionaire Through SPAC Deal

You’ve heard of tech billionaires Musk and Zuckerberg. Well, now there’s Russell — 25-year-old Austin Russell, to be exact.

This enterprising young man dropped out of Stanford in 2013 to found Luminar, a tech start-up developing light detection and ranging (LIDAR) technology for the self-driving vehicle industry.

Like many other automotive tech companies in recent months, Luminar is set to go public through a reverse merger with special purpose acquisition corporation (SPAC) Gores Metropoulos (NASDAQ:GMHI). That merger is expected to make Russell one of the world’s youngest billionaires.

Big money

SPAC mergers have become almost commonplace in the automotive industry this year, with big names like electric truckmaker Nikola and electric drivetrain manufacturer Hyliion (NYSE:HYLN) both choosing a reverse merger over an IPO.

For its part, if Luminar goes public sometime in the fourth quarter as scheduled, it won’t even be the first LIDAR company to do so this year.

Read More

SK Hynix in $9 bn deal for Intel’s flash memory chip business

The world’s second-largest chipmaker, South Korea’s SK Hynix, on Tuesday announced a $9 billion deal to buy Intel’s flash memory chip operation as it seeks to bolster its position against rival behemoth Samsung Electronics.

SK Hynix is already the world number two maker of DRAM chips, used in computers and servers, and the second-largest chipmaker overall.

But it has lagged in the market for flash memory — or NAND — chips, which are used in everyday devices such as smartphones and USB storage drives, as well as industrial and medical equipment.

In a regulatory filing, SK Hynix said it will acquire Intel’s “entire NAND business division excluding the Optane division” for 10.3 trillion won, with Intel’s factory in Dalian, China, included in the deal.

SK Hynix ranked fourth by global NAND sales in the second quarter this year, according to market researcher Trendforce. Intel was sixth.

Their combination will see

Read More

NSW government inks AU$328m internet upgrade deal with Telstra

The New South Wales government has partnered with Telstra to deliver internet upgrades to more than 2,000 public schools across the state.

Expected to cost AU$328 million, the project is expected to see more than 5,200 km of fibre be rolled out, which the government boasted would increase internet speeds by more than 10-fold.

Minister for Education Sarah Mitchell said the upgrade would deliver faster, more reliable internet access to enable more reliable video conferencing and quicker downloads.

“This upgrade will bypass existing network constraints meaning all our schools will be on a high-speed connection in the next 18 months, three years ahead of schedule,” she said.

The project will also give students access to new immersive learning opportunities, Mitchell added.

This deal will extend the long-running partnership that has existed between the NSW government and Telstra.

“We know that digital inclusion, particularly for students, is a lead indicator for

Read More