Technology Sector

Chinese Conglomerate HNA Group Acquiring Ingram Micro Inc

Chinese Conglomerate HNA Group Acquiring Ingram Micro Inc

Ingram Micro Inc., the technology distributor is being acquired by an unit of Chinese conglomerate, the HNA Group for approximately $6 billion.

In recent times, Chinese companies are more aggressive pursuing deals as China's weakening economic growth raise concerns says investment bankers.

This deal is the most recent among the series of investments in technology companies in the United States by Chinese companies although such deals might involve scrutiny related to national security.

BlackBerry Trimming Two Hundred Jobs in Canada and Florida Offices

BlackBerryThe year has just started and it seems BlackBerry is not getting into any good luck so far.

BlackBerry, the Canada based company announced they will lay off some employees in the Waterloo region. The layoffs are expected to be close to thirty five percent of the total number of employees who work at the company's Waterloo offices that totals to about 2,700 employees.

Symantec Corp said Silver Lake Partners Invested $500 Million in the Company

Symantec Corp said Silver Lake Partners Invested $500 Million in the Company

Symantec Corp the maker of Norton antivirus software, said Silver Lake Partners, the Menlo Park, California based private equity firm has invested $500 million in the company. It also said that investment means a boarder seat for the private equity firm.

Symantec, the American technology company headquartered in Mountain View, California also said that it plans a $2.3 billion share buyback and also announced a special dividend of $4 a share, which means a payout of approximately $2.7 billion.

VMware to Trim Eight Hundred Jobs; Revenue Forecast for 2016 Misses Analysts’ Expectations

VMware to Trim Eight Hundred Jobs; Revenue Forecast for 2016 Misses Analysts’ Ex

The cloud and virtualization software and services provider VMware Inc forecasted its revenue expectations for 2016 which missed the analysts' expectations. This hints that the software manufacturer's healthy growth in new businesses did not properly offset or compensate the weakness it faced in the conventional server-virtualization software business.

Google Agree Paying £130 Million to UK Government as Back Taxes

Google Agree Paying £130 Million to UK Government  as Back TaxesGoogle, the tech company agreed to pay £130 million to the UK government as back taxes. It comes after an inquiry into the existing tax arrangements of the company.

The amount collected from Google will go into Her Majesty's Revenue and Customs (HMRC) reimbursing all the missed taxes which the company has not paid for past ten years.

Visual China Group Acquires Corbis Entertainment; Financial Details Not Disclosed

Visual China Group Acquires Corbis Entertainment; Financial Details Not DisclosedWithout disclosing financial details of the deal, Microsoft Corp's co-founder Bill Gates said on Friday, he has sold Corbis, the image-licensing firm to a Chinese company.

Corbis is the owner of one of the biggest collection of news photos in the world that also includes rare pictures of the 1989 Tiananmen Square massacre.

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