Cisco Systems Inc said on Tuesday it plans to purchase cybersecurity company Sourcefire Inc for $2.7 billion, a deal that analysts say should spark more acquisitions in the industry as large vendors seek to profit from growing demand for IT security.
Cisco (San Jose, CA, USA), which has been seeking targets to boost its network security business, said it will pay $76 per share in cash for Sourcefire (Columbia, MD, USA), a premium of 28.6 percent over its closing price on Monday of $59.08.
Vodafone-controlled Vodacom has agreed a deal to sell infrastructure it operates in Tanzania to Helios Towers Tanzania (HTT), an African infrastructure company whose investors include George Soros, Madeleine Albright and Jacob Rothschild, according to a report from the Financial Times.
The deal will see Vodacom transfer 1,149 towers to HTT and is valued at approximately $75 million, although Vodacom (Johannesburg, South Africa) is reportedly to acquire a 25% stake in HTT as well.
Two security experts said they have figured out how to spy on Verizon Wireless mobile phone customers by hacking into devices the U.S. carrier sells to boost wireless signals indoors.
The finding, which the experts demonstrated to Reuters and will further detail at two hacking conferences this summer, comes at a time of intense global debate about electronic privacy, after top-secret U.S. surveillance programs were leaked by a former National Security Agency contractor, Edward Snowden, last month.
Fiber optic network provider Level 3 Communications Inc said a 2003 network security agreement signed by its unit Global Crossing did not include any provision for unauthorized surveillance by U.S. government agencies.
The Washington Post reported last week that the deal allowed Team Telecom, a collection of U.S. government agencies, to access data transferred through Global Crossing's (Hamilton, Bermuda) fiber-optic backbone that connects several countries.
Alcatel-Lucent has won a deal in Ghana to roll out what it claims will be the first 4G network in Western and Central Africa.
The operator is to build the network for local operator Surfline Communications (Accra, Ghana), which believes there is a pent-up demand for higher-speed services in the country.
Describing itself as a “data-centric communications provider”, Surfline says it will address national requirements for broadband connectivity that will contribute to Ghana’s social and economic growth.
Italian phone incumbent Telecom Italia has won support from Italy’s regulator for its plans to spin off its fixed-line business, reports Reuters.
In a speech to the Italian parliament, Angelo Marcello Cardani, the president of regulatory authority AGCOM, is reported to have praised the plans, saying that a broad and deep separation would pay regulatory dividends.
Telecom Italia’s board approved the separation scheme in May and will hope the move helps the operator to slash its substantial debt of more than €28 billion ($35.8 billion).
Talks between China and the United States on cyber security, overshadowed by revelations of U.S. electronic surveillance by former spy agency contractor Edward Snowden, have gone well, state media said on Wednesday, with both sides pledging to improve cooperation.
Cyber security is one of the main topics for high-level talks this week between the world's two largest economies, as both countries trade accusations about hacking attacks on each other.
France has put an end to the most controversial element of a copyright piracy law that allowed the government to cut off the Internet subscriptions of repeat offenders.
The Socialist government of Francois Hollande published an official decree on Tuesday to erase the provision in the law that allowed courts to deprive copyright violaters of their internet connectivity if they transgressed on three occasions. However, other sanctions, such as fines, will remain in place.
The UK’s Vodafone has unveiled plans to open two new regional hubs in Africa to support the growing demand for its enterprise services.
Vodafone Global Enterprise (VGE), which caters to corporate customers, plans to establish hubs in Nairobi, Kenya and Accra, Ghana to provide greater support for more than 600 of its multinational customers with operations in Africa.
VGE serves some 1,700 customers internationally and says revenues have been growing fast in Africa, exceeding €1 billion ($1.29 billion) in the last financial year.
Standard & Poor's downgraded Nokia further into junk territory on Friday, warning that the Finnish telecom firm's plan to take over Siemens AG's stake in their joint network equipment venture would strain its finances.
The ratings agency downgraded the one-time tech darling by one notch to B+ from BB- citing pressure on its net cash after Nokia (Helsinki, Finland) said on Monday it would buy Siemens's (Munich, Germany) 50 percent share in Nokia Siemens Networks.