Cisco Systems Plans $3.7 Billion Acquisition of AppDynamics

As part of its push to ramp up software offerings for enterprise customers, Cisco Systems is purchasing software maker AppDynamics Inc. for a premium $3.7 billion, just as the company was about to go public. AppDynamics software helps companies — including airlines, banks and retailers — monitor their applications’ performance and address any potential problems across cloud services offered by Google, IBM and others. The startup was founded by engineer Jyoti Bansal in 2008. Continue reading Cisco Systems Plans $3.7 Billion Acquisition of AppDynamics

Wall Street Adopts Blockchain Technology to Record Trades

The Depository Trust and Clearing Corporation (DTCC), the “back end” for much of Wall Street trading, is replacing a central database with Bitcoin-inspired software. The New York-based DTCC records and reports almost every stock, bond and valuable derivative trade in the U.S. IBM, already experienced in blockchain technology, is leading the DTCC software transition, which is slated to be functioning by early 2018. The shift marks Wall Street’s most serious effort thus far to adopt Bitcoin’s underlying technology. Continue reading Wall Street Adopts Blockchain Technology to Record Trades

CES Will Showcase Differential Privacy for Autonomous Living

At CES 2017, Honda’s theme will be a “cooperative mobility ecosystem,” a confluence of last year’s two showstoppers: autonomous driving and the rise of artificial intelligence. These arenas could foster mass adoption of differential privacy. Data aggregation is critical to the success of autonomous driving, and the AI-centric, newly coined notion of autonomous living, but this collection requires user buy-in. With nearly half of all Internet users expressing that privacy and security concerns are limiting their use of the Internet, new means of protecting user data will be a key theme throughout CES. Continue reading CES Will Showcase Differential Privacy for Autonomous Living

International Law Enforcement Takes Down Avalanche Botnet

An international team of law enforcement agencies and security firms just took down “Avalanche,” a botnet that has been engaged in phishing attacks and at least 17 different malware families since at least late 2009. The team took offline more than 221 servers and more than 800,000 domain names used by Avalanche, and conducted searches and arrests in five countries, according to a statement released by the FBI and U.S. Department of Justice. Avalanche malware impacted victims in over 180 countries. Continue reading International Law Enforcement Takes Down Avalanche Botnet

Fitbit Close to Acquiring Struggling Smartwatch Maker Pebble

According to a report from The Information, fitness band market leader Fitbit is close to finalizing a deal to purchase smartwatch maker (and Kickstarter success story) Pebble. The startup was said to be facing financial challenges and looking to sell. Fitbit is reportedly looking to pick up Pebble’s intellectual property and software, and is expected to shutter the brand and its products over time. While a dollar amount for the deal has not been revealed, some place the purchase price in the $34-40 million range. “Watch maker Citizen was interested in purchasing Pebble for $740 million in 2015,” reports TechCrunch. “This deal failed and before the launch of the Pebble 2 Intel made an offer for $70 million.” Continue reading Fitbit Close to Acquiring Struggling Smartwatch Maker Pebble

Daily Fantasy Sports: FanDuel and DraftKings Agree to Merge

Former rivals DraftKings and FanDuel announced they plan to merge their daily fantasy sports operations into one company, to be run by DraftKings CEO Jason Robins. FanDuel chief exec Nigel Eccles will become chairman. The board will include three directors each from DraftKings and FanDuel, plus an independent director, while headquarters will be divided between New York and Boston offices. The deal, which aims to increase innovation by freeing up money, is expected to close during the second half of next year. Continue reading Daily Fantasy Sports: FanDuel and DraftKings Agree to Merge

Symantec Agrees to Purchase LifeLock for $2.3 Billion in Cash

Computer security company Symantec Corp. will acquire LifeLock Inc. for $2.3 billion in a deal that will broaden Symantic’s offerings beyond its antivirus software. LifeLock, which sells identity-theft protection services, currently has more than 4.4 million subscribers. “Symantec hopes to integrate LifeLock with its Norton antivirus businesses into a single product line after the acquisition closes, expected early next year,” reports The Wall Street Journal. In June, Symantec acquired Blue Coat Systems for $4.65 billion to add cyberdefense technologies to its portfolio. Earlier this year, the company “sold its Veritas data-storage unit to Carlyle Group for $7.4 billion.” Continue reading Symantec Agrees to Purchase LifeLock for $2.3 Billion in Cash

AOL Layoffs Reflect New Emphasis on Mobile, Video and Data

AOL is planning to release 5 percent of its staff today, affecting about 500 employees. “CEO Tim Armstrong said that most of the cuts will come in its corporate units, while resources will be shifted more at mobile, video and data offerings going forward,” reports Recode. AOL, which was purchased last year by Verizon, recently added 1,500 employees from its ad deal with Microsoft and acquisition of Millennial Media. AOL’s current structure features its media unit (with properties such as Huffington Post and TechCrunch) and its platforms groups, which includes its advertising tech. “Armstrong said the layoffs are not related to current discussions AOL execs are having with Yahoo counterparts about integration between the two companies,” notes Recode. Continue reading AOL Layoffs Reflect New Emphasis on Mobile, Video and Data

High Profile Snap IPO Could Push Other Startups to Go Public

Snapchat parent company Snap Inc. has confidentially filed for its IPO, according to sources familiar with the matter. The four-year old messaging app could go public as early as March 2017, in what is expected to be one of the highest-profile stock debuts in years, and one that could potentially convince other tech startups to test public markets. The Venice, California-based company is looking to raise as much as $4 billion, with a valuation in the $25 billion range, which could make it the largest U.S.-listed tech offering since Chinese e-commerce giant Alibaba went public in 2014. Continue reading High Profile Snap IPO Could Push Other Startups to Go Public

Global Tech Firms Wary of China’s Broad Cybersecurity Law

China has adopted a broad and controversial cybersecurity law that places new requirements on tech companies, which foreign businesses fear may be used to negatively affect competition. The law, designed to tighten state control over technology and information while ramping up online security, addresses areas such as data storage, technical support, censorship and government certification of hardware. According to The Wall Street Journal, “The law drew criticism from foreign business groups due to the expansive list of sectors that are defined as part of China’s ‘critical information infrastructure,’ making sectors including telecommunications, energy, transportation, information services and finance subject to security checks.” Continue reading Global Tech Firms Wary of China’s Broad Cybersecurity Law

Harder to Trace Than Bitcoin, Zcash Virtual Currency Debuts

Zcash is the latest in virtual currency, designed by academics with advanced cryptography to be untraceable. After only a few days on the market, Zcash is soaring in popularity, with investors paying over $1,000 for a single unit. The company, led by developer Zooko Wilcox, has already received $3 million from several Silicon Valley venture capitalists as well as the support of computer scientists at Johns Hopkins University and the Massachusetts Institute of Technology, and privacy advocates. Continue reading Harder to Trace Than Bitcoin, Zcash Virtual Currency Debuts

Twitter Struggles with Financial Stability, Shutters Vine Videos

Despite announcing a better-than-expected Q3 earnings report with revenue of $616 million, up 8 percent year-over-year, Twitter confirmed that it plans to lay off 9 percent of its employees, reports Recode. In a blog post that surprised many, the company also announced that it would discontinue its Vine mobile app for sharing short videos. (The website will remain online so fans can watch the Vines already created.) Vine has recently experienced a mass exodus as influencers have transitioned to Snapchat, Facebook and YouTube. Meanwhile, rumors continue to circulate that Twitter could be up for sale sometime soon. Continue reading Twitter Struggles with Financial Stability, Shutters Vine Videos

Consortium Unveils Blockchain Platform for Financial Services

More than 70 of the world’s biggest financial institutions publicly released Corda, a blockchain platform that may become an industry standard. R3, a New York-based financial tech company, created a consortium that is behind Corda. Blockchain, which evolved from the digital currency Bitcoin, is similarly a digital means of replacing the use of hard currency with a Web-based transaction system. Via a “shared record” of data in a secure network, Blockchain avoids the need for third-party verification. Continue reading Consortium Unveils Blockchain Platform for Financial Services

Salesforce Passes on Twitter, SoftBank Could Be Next in Line

Salesforce has been rumored for some time to be contemplating the purchase of Twitter. But now, Salesforce — like Google and Disney before it — has decided not to buy the digital platform, leading to a 5 percent drop in the value of the company’s stock. With Salesforce no longer interested, some have reported Twitter’s “suitor pool has apparently winnowed to zero.” Now, some believe that Japan’s SoftBank — which has previously expressed interest — could be next in line to make an offer to the social media platform. Continue reading Salesforce Passes on Twitter, SoftBank Could Be Next in Line

SoftBank Signals Major Ambitions with $100 Billion Tech Fund

Japan’s SoftBank Group, led by chief exec Masayoshi Son, is partnering with a Saudi sovereign-wealth fund to establish a multibillion-dollar tech investment fund. SoftBank is an ambitious tech investor, as evidenced by its recent deals with China’s Alibaba Group, mobile carrier Sprint and chip designer ARM Holdings. Today, the company “plans to invest at least $25 billion over the next five years through a fund dubbed the SoftBank Vision Fund,” reports The Wall Street Journal. “Saudi Arabia’s Public Investment Fund may contribute an additional $45 billion over the next five years as the fund’s lead partner.” SoftBank is in talks with additional global investors, who could “push the new fund up to $100 billion to become the world’s ‘biggest investor’ in technology over the next decade.” Continue reading SoftBank Signals Major Ambitions with $100 Billion Tech Fund

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