An online education company backed by Alibaba Group Holding Ltd said on Monday that a unit of Softbank Corp had made a strategic investment in the company for an undisclosed amount.
The investment in TutorGroup from SBI Group (Tokyo, Japan), formerly known as Softbank Finance Group and one of Asia's biggest venture capital firms, follows a capital raising of nearly $100 million for TutorGroup in February from Alibaba (Hangzhou, China), Singapore state investor Temasek Inc and China's Qiming Venture Partners (Shanghai).
Following the Snowden snooping revelations, there is growing interest in a range of mobile phone products with one central selling point: privacy.
The latest contender is the Blackphone, an Android software-based mobile which encrypts texts, voice calls and video chats and will be launched at the Mobile World Congress in Barcelona on Monday.
It aims to tap into the market for so-called mobile security management (MSM) products, which was estimated at $560 million in 2013 and is expected to nearly double in size to $1 billion a year by 2015, according to ABI Research.
Last year's revelations over the U.S. tapping of phone and internet data gave telecoms firms pause for thought over whether they should sell their "big data" for gain, but the commercial potential could prove irresistible.
Although figures are scarce, analysts think selling data on mobile users' locations, movements, and web browsing habits may grow into a multi billion-dollar market for the business.
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Italian phone incumbent Telecom Italia has denied it is involved in talks to merge Brazilian subsidiary TIM Brasil with Vivendi-owned GVT, according to a report from Reuters.
The news comes after Brazilian daily O Estado de S. Paolo is said to have reported that Telecom Italia (Milan, Italy) recently met with Vivendi (Paris, France) managers to hold preliminary talks about a merger of the two businesses.
“(There are) no ongoing talks over a possible GVT [Curitiba, Brazil] deal,” a Telecom Italia spokesman is quoted as saying by Reuters.
Alcatel-Lucent almost halved its net loss for 2013 as cost-cutting, a tweaked product offering and asset sales under Chief Executive Michel Combes began to take effect.
The telecoms equipment maker, which competes with Sweden's Ericsson (Stockholm), China's Huawei (Beijing) and Nokia's (Helsinki, Finland) NSN unit, said its gross margin was 34 percent and operating profit 307 million euros - both better than expected.
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U.S. mobile operator AT&T said on Monday it was not planning to take over Britain's Vodafone, making its intentions clear after a request from the takeover panel following months of speculation.
The statement to the London Stock Exchange rules out the second-largest mobile service provider in the United States from buying Vodafone (Newbury, UK) for the next six months. However the group can still make an offer if Vodafone's board agrees to it, or if a third party enters the fray.
UK fixed-line incumbent BT has unveiled plans to spend another £50 million ($82.6 million) on extending fiber broadband services to homes and businesses over the next three years.
In a statement, the operator said the extra investment would benefit more than 30 cities in the UK and more than 400,000 additional premises.
It will mainly focus on equipping city cabinets that were not part of BT’s (London, UK) original plans, deploying fiber to cabinets that serve apartment blocks and laying additional fiber to new build sites in cities.
Vodafone Hutchison Australia (VHA) is set to replace departing chief executive Bill Morrow with Inaki Berroeta, who currently heads up the Vodafone Group’s business in Romania.
In a statement, the operator said that Berroeta would take over from Morrow on 1 March, with Morrow to stay on until the end of March to ensure a smooth transition takes place.
After that, Morrow will leave the Vodafone Group to take charge of NBN Co, the government-backed operator that is deploying a high-speed network across Australia.