Nokia Siemens Selling WiMax Business to NewNet
Nokia Siemens Networks today announced that it is selling its WiMax business to NewNet Communications. Under the terms of the agreement, NewNet will acquire all of NSN's WiMax products, services, employees, and other assets for an undisclosed sum. NewNet provides wired and wireless networking products, and would gain about 300 Chicago-based employees from NSN. The companies expect the deal to close by the end of 2011. Nokia Siemens Networks is looking for ways to reduce costs, and recently announced plans to cut 17,000 employees from its payroll, as well as freeze some business units.
Lenovo Announces Layoffs, Remains 'Committed' to Motorola
Sep 26, 2016
Lenovo today announced a workforce reduction that will see close to 2% of the company's 55,000 employees losing their jobs. Most of the more-than-1,000 cuts impact Lenovo-owned Motorola.
Samsung Buys RCS Messaging Provider
Nov 15, 2016
Samsung today said it has acquired NewNet Communication Technologies, a Canadian company that provides rich communication services (RCS) infrastructure. NewNet offers standards-based RCS tools that allow phone makers and network operators to deploy advanced messaging services, such as group chats, multimedia support, and enhanced calling.
Verizon and Hearst to Acquire Complex for Mobile Content
Apr 19, 2016
Verizon Communications and Hearst have agreed to acquire Complex, a media organization founded by Mark Ecko that creates content for young adult audiences. Under the terms of the agreement, Verizon and Hearst will each own 50% of Complex through a joint venture.
Sony to Buy Toshiba's Camera Sensor Business
Dec 4, 2015
Sony has agreed to acquire Toshiba's camera sensor business for $155 million. Under the terms of the deal, Sony and its subsidiary, Sony Semiconductor Corporation, will acquire a fabrication facility, equipment, 1,100 employees, and other assets associated with Toshiba's 300mm wafer production facility in Oita, Japan.