NEW YORK (Reuters) - After spending two years developing a wide-ranging communications tool for Wall Street, Goldman Sachs Group Inc says it has reached the perfect pitch.
On Wednesday, Goldman and 13 partners plan to announce a $66 million investment in a new company called Symphony Communication Services Holdings LLC, according to a draft press release viewed by Reuters. The partners are all financial services firms, including major global banks and asset managers.
WASHINGTON (Reuters) - Microsoft Corp urged the Federal Communications Commission to approve AT&T's Inc $48.5 billion bid for DirecTV, saying in a filing that the acquisition is crucial to expanding Americans' access to the internet.
The letter, which was dated Sept. 16 and released publicly on Thursday, comes as the FCC conducts a formal review of the merger. The commission is expected to reply to public comments on Oct. 16.
If the merger is approved, AT&T promises to expand its footprint to include an additional 13 million rural customers.
STOCKHOLM (Reuters) - Ericsson, the world's top mobile network equipment market, will stop developing modems, it said on Thursday, shutting a loss-making unit it took on after joint venture partner STMicroelectronics pulled out a year ago.
Europe's semiconductor firms are struggling to compete with bigger U.S. and Asian rivals, which have largely outsourced chip manufacturing to cope with volatility in demand and prices.
"Since integration, the modems market has developed in a direction that has reduced the addressable market for thin modems," Ericsson said in a statement.
(Reuters) - U.S. network gear makers are bracing for slower revenue growth in the second half of the year as telecom operators, their main customers, postpone spending until the dust settles on several big mergers.
Telecom giants AT&T Inc and Sprint Corp are taking time to decide whether to upgrade existing wired networks or roll out 4G networks, forcing gear makers to cut expectations for what is usually the stronger half of their year.
The Mobile Backhaul Pavilion features exhibits from innovative infrastructure and core access vendors, including AOptix, Clearfield, and Vitesse Semiconductor.
To put the backhaul challenge in context, consider data from Cisco's Visual Networking Index, which forecasts that nearly five billion users and as many as 10 billion additional IoT and Machine-to-Machine (M2M) devices may be connected by 2018.
Discover the value of Asia’s datacenter and Cloud assets this November
Reaching its 4th year in the region, Asia’s annual professional networking and market forum for investors in datacenter, Cloud, fiber and tech returns to Hong Kong.
FIF 14 is the only live event in Asia focused on bringing together hundreds of investors, financiers, bankers, private equity and hedge funds to meet high-growth, smart datacenter, Cloud, fiber and tech companies, service providers and enterprise users in one annual event to explore investment opportunities, assess business models and discuss the future of these highly dynamic segments of the ICT sector.
FRANKFURT (Reuters) - German internet service provider United Internet said on Wednesday it had agreed to acquire buyout group KKR's 74.9 percent stake in cable group Versatel for about 586 million euros ($769 million) in cash.
United Internet, which already controls 25.1 percent of Versatel, had said last month it was considering a complete takeover of the company, which owns Germany's second-largest fiber optic cable network with a length of about 37,000 kilometers.
PARIS/LONDON/MILAN (Reuters) - Telecom Italia has lost a promising path to earnings growth by failing to secure Brazilian broadband business GVT and may now turn from hunter to hunted in a fast-consolidating telecoms industry.
Winning the auction for French media company Vivendi's GVT was vital for both Telecom Italia and its rival, Spain's Telefonica, as their European markets have been shrinking. Italy was gripped by a mobile price war for much of last year, revenue is falling and competition remains tough.
WASHINGTON (Reuters) - With plans for a T-Mobile US Inc merger in tatters, Sprint Corp is expanding a roaming program with rural cellphone companies that could provide a much-needed way for the debt-laden wireless carrier to cheaply increase its footprint.
In March, Sprint Chairman Masayoshi Son struck a roaming deal with the Competitive Carriers Association (CCA), which represents many U.S. rural and regional carriers, to use each other's networks for roaming at a mutually attractive price.
(Reuters) - AT&T <T.N> is suing Cox Communications for infringing eight patents dealing with network quality after the regional cable provider ignored its complaints about the issue and made "billions" off of the technology, according to a new lawsuit.
In the suit filed Friday in Delaware federal court against Cox and more than 30 of its regional units, AT&T said that Cox had been warned about the claims of patent infringement as far back as 2009. It said Cox delayed negotiations and refused to take a license for the technologies.