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Cognizant swoops for Magenic Technologies
Cognizant has agreed the acquisition of Magenic Technologies, an American digital engineering company. The near-1,000 Magenic staff will join Cognizant's software development arm, Cognizant Softvision. Terms of the deal were not disclosed. It is expected to close by the end of Q1 this year. "Magenic has exceptional software development and cloud modernisation teams," said a Cognizant spokesperson.
Citrix confirms $2.25bn deal for collaboration platform Wrike
Citrix Systems has confirmed that it has agreed to acquire collaborative work platform Wrike for $2.25bn. Citrix said the deal will drive a business model transition to the cloud and strategy to become a complete SaaS-based work platform addressing the needs of various functional groups within the enterprise. Together, Citrix and Wrike will serve over 400,000 customers across 140 countries.
Russian crypto exchange Livecoin shuts down after cyberattack
Russian cryptocurrency exchange Livecoin has announced it is shutting down after it was hacked last month. In the cyberattack, Livecoin lost control over all of its servers, back ends, nodes and social media accounts. “Our service has been damaged hard in a technical and financial way. There is no way to continue operative business in these conditions,” the exchange said.
Payments infrastructure startup PPRO raises $180m, valued at $1bn+
Payments infrastructure startup PPRO has raised $180m in new investment. Investors include Eurazeo Growth, Sprints Capital, and Wellington Management and values the business at more than $1bn. The company said the new funding will be used to drive continued global expansion and support the development of its border-free payment technology and services.
Moonpig to go public in a $1.6b float next month
Online card retailer Moonpig will go public on the London Stock Exchange in a $1.6 billion float in February 2021. Moonpig will list at least a quarter of the company on the exchange's main market through an Initial Public Offering (IPO). United States investors BlackRock and Dragoneer have already announced their intention to spend £130 million on Moonpig shares.
European regulators hand out GDPR fines of $332.4m
Around $332.4m of fines have been imposed for a wide range of infringements of Europe’s GDPR laws, according to international law firm DLA Piper. Italy’s regulator tops the rankings for aggregate fines having imposed more than $84.5m since the application of GDPR on 25 May 2018. Germany and France came second and third with aggregate fines of $83.8m and $66mm respectively.
AI one of the highest-growth job categories on LinkedIn
Jobs in artificial intelligence and software engineering were among the UK's most popular roles on LinkedIn in 2020, according to the professional networking site. It said that companies turned to AI to deal with increased business demand during the COVID-19 pandemic. According to LinkedIn, AI hiring grew 32% in 2020. Data science also featured in the top 15 list of job categories.
Three taps Tata to accelerate 5G network rollout
UK telco Three has tapped Tata Consultancy Services to help configure its mobile network for its 5G services rollout. TCS will manage the configuration of a new core next generation mobile network, and ensure it integrates correctly with the 5G RAN. This work will include configuring the core network for new site deployments, site upgrades, performance management, and 3G and 4G tuning changes.
Samsung heir Jae Yong Lee sentenced to two and a half years in prison
A South Korean court has sentenced Jae Yong Lee, Samsung Electronics' Vice Chairman to two and a half years in prison, after being found guilty of bribery and corruption. Lee has been the de facto leader of the company since 2014. However, he will now be sidelined from future major decisions and from overseeing the distribution of his father's inheritance, who died last October.
Brazil to allow Huawei to enter its 5G network auctions
Brazil's government has announced its decision not to ban Huawei from the country's 5G network auctions, scheduled for June 2021. Brazil's president Bolsorano has stated in the past its distrust for the Chinese telecom giant. However, Trump's defeat in the U.S. 2020 elections and internal pressures have reportedly prompted him to backtrack on his position and not ban Huawei from the auction.
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