T-Mobile, Sprint Announce All-Stock Deal for $26 Billion Merger

Wireless carriers T-Mobile and Sprint on Sunday announced they have entered into a merger agreement for an all-stock transaction. The $26 billion merger would reduce the U.S. wireless market to three major players and give Japan’s SoftBank (Sprint’s majority owner since 2012) a greater presence in the U.S. If approved, the newly combined company would keep the name T-Mobile, and would be run by current T-Mobile U.S. CEO John Legere and T-Mobile COO Mike Sievert. The $146 billion entity would be controlled by T-Mobile parent company Deutsche Telekom. Continue reading T-Mobile, Sprint Announce All-Stock Deal for $26 Billion Merger

Amazon, Facebook, SoftBank Ally for New Transpacific Cable

Amazon, Facebook, Japan’s SoftBank and other technology companies are partnering to build the Jupiter cable system, a new 8,700-mile (14,000 km) transpacific subsea cable that will connect North America with Asia. The Jupiter system will have so-called landing points in two locations in Japan (Maruyama in Chiba prefecture and Shima in Mie prefecture), Daet in the Philippines and another in Los Angeles. Other partners include NTT (SoftBank’s rival), Hong Kong’s PCCW Global, and the Philippines’ PLDT. Continue reading Amazon, Facebook, SoftBank Ally for New Transpacific Cable

SoftBank Suspends Negotiations to Merge Sprint and T-Mobile

After nine months of merger talks, SoftBank has reportedly suspended its plans to combine Sprint with T-Mobile US. This marks the second time in three years that Sprint has backed out of negotiations. According to those familiar with the matter, directors of SoftBank Group Corp. (Sprint’s parent company) met in Tokyo and opted to suspend the merger plans. Insiders indicate that the news came as a surprise to T-Mobile officials. While discussions could be revisited in the future, the same insiders note that the two sides could not agree on the valuation of Sprint’s shares, and SoftBank chairman Masayoshi Son had concerns about relinquishing too much control. Continue reading SoftBank Suspends Negotiations to Merge Sprint and T-Mobile

ARM Proposes Security Framework Standard for IoT Devices

Consumer confidence in the Internet of Things can be easily rattled by reports of compromised privacy, such as when researchers found that some baby monitors had been turned into surveillance devices. The SoftBank Group-owned U.K. chip manufacturer ARM, however, has introduced a potential solution: a security framework for IoT devices from home appliances and children’s toys to vehicles and streetlights. Up until now, the many IoT manufacturers haven’t agreed on a single security standard, something ARM hopes to remedy. Continue reading ARM Proposes Security Framework Standard for IoT Devices

SoftBank’s Masayoshi Son Reveals His Plan for Vision Fund

SoftBank chief executive Masayoshi Son invested $164 million in startup Mapbox, which is used by Lyft drivers, Snap and Mastercard, and in the process revealed his plans for his nearly $100 billion Vision Fund. The Fund, which includes money from Saudi Arabia and others, is aimed at preparing for new paradigms in work, medicine and so on that will occur due to artificial intelligence. Son believes in Singularity, the idea that robots will change the work force and machines will become smarter than people. Continue reading SoftBank’s Masayoshi Son Reveals His Plan for Vision Fund

Former Uber CEO Tries to Thwart Effort to Reduce His Power

In the latest drama at the troubled Uber, former chief executive Travis Kalanick appointed two new directors — former Xerox chief executive Ursula Burns and former Merrill Lynch chief John Thain — to the board, without informing new chief executive Dara Khosrowshahi or current board members. The likely trigger for Kalanick’s action was a proposal that included reducing his voting power and increasing Khosrowshahi’s. By adding two members to the nine-member board, Kalanick attempted to gain new allies. Continue reading Former Uber CEO Tries to Thwart Effort to Reduce His Power

SoftBank Leads Investment In Uber That Could Hit $10 Billion

SoftBank Group wants to buy 17 percent to 22 percent of Uber Technologies, via a combination of share purchases from the company and a tender offer to employees and investors. The deal would only work if SoftBank can convince Uber’s shareholders to sell their stock at a discount. According to sources, the bank’s investment could total as much as $10 billion, which would make it the largest-ever single investment in a private venture-backed startup. SoftBank also wants two board seats, adding to Uber’s nine current directors. Continue reading SoftBank Leads Investment In Uber That Could Hit $10 Billion

Apple Develops AI Chip to Compete in Autonomous Cars, AR

Apple is reportedly working on Apple Neural Engine, the internal name for a new AI-enhanced processor that will enable facial and speech recognition ordinarily accomplished by human intelligence. The company, which would not comment, had an early AI win with Siri, but has since been playing catch up with Amazon and Google, both of which offer AI-powered digital assistants. Apple Neural Engine would give Apple more capabilities in autonomous vehicles and augmented reality devices, both fields Apple is involved in. Continue reading Apple Develops AI Chip to Compete in Autonomous Cars, AR

SoftBank, Saudi Arabia Announce World’s Largest Tech Fund

Over the weekend, during President Trump’s visit to Saudi Arabia, Japan’s SoftBank Group and Saudi Arabia’s sovereign-wealth Public Investment Fund (PIF) announced the launch of a new tech fund that has so far secured $93 billion of capital. The “SoftBank Vision Fund is targeting a total of $100 billion within six months,” reports The Wall Street Journal, and plans to “steer capital to cutting-edge technologies in U.S. startups and other global firms.” SoftBank CEO Masayoshi Son already promised to invest $50 billion of the new fund in American startups. Continue reading SoftBank, Saudi Arabia Announce World’s Largest Tech Fund

Verizon to Pay $350 Million Less for Yahoo Internet Businesses

Verizon and Yahoo announced yesterday plans to move forward with the sale of Yahoo’s core Internet businesses. In the wake of major data breaches at Yahoo, the purchase price has been lowered by $350 million for a new deal valued at $4.48 billion. The companies plan to split future costs related to the data breaches. “The revised agreement,” notes The New York Times, “paves the way for the deal to proceed to a shareholder vote as early as April, although securities regulators are still assessing how Yahoo disclosed information about the breaches to investors.” Verizon is looking to compete with Facebook and Google in digital advertising and, according to The Wall Street Journal, plans to fold Yahoo’s ad tech and websites “into AOL, which Verizon acquired in 2015.” Continue reading Verizon to Pay $350 Million Less for Yahoo Internet Businesses

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

Japan Emerges as Hub for Virtual Reality Culture, Innovations

Japan is on track to become a virtual reality powerhouse, largely due to the imminent release of Sony PlayStation VR. Mixed-reality theme parks, VRcades, augmented reality, and VR retail applications are all gaining traction. Gumi, GREE and Colopl, which has made about 30 VR investments, are a few of the major domestic VR investors. One VR startup, FOVE, a pioneer in eye tracking, has already raised $11 million; its chief executive Yuka has been featured in Forbes and SoftBank’s Taizo Son, chairman/founder of mobile gaming company GungHo, is one of its investors.

Continue reading Japan Emerges as Hub for Virtual Reality Culture, Innovations

SoftBank to Purchase UK-Based Chip Designer ARM Holdings

Japan’s SoftBank Group has agreed to acquire United Kingdom’s ARM Holdings for more than $32 billion in an all-cash deal, which insiders suggest marks a major move by the Japanese telecom toward the mobile Internet. As a top designer of chips for companies such as Apple and Samsung, ARM dominates the smartphone market and is a leader in the mobile revolution. Its designs appear in a range of devices, including Internet of Things sensors. The number of chips featuring ARM processors reached 14.8 billion in 2015, up from 6.1 billion five years earlier. Continue reading SoftBank to Purchase UK-Based Chip Designer ARM Holdings

Comcast is Reportedly in Early Discussions to Purchase DWA

Reports have surfaced that Comcast is in talks to purchase DreamWorks Animation SKG for more than $3 billion. The unconfirmed deal would make the cable giant a major player in the family entertainment business, and possibly provide additional leverage for building out theme park and consumer product businesses. According to The Wall Street Journal, “One person with knowledge of the talks said that DreamWorks and Illumination Entertainment, Universal’s animation studio, would remain separate brands.” However, a deal could provide Universal with a greater presence in China, where DreamWorks chief exec Jeffrey Katzenberg has focused much of his attention. Continue reading Comcast is Reportedly in Early Discussions to Purchase DWA

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