The Bulletin
NEW
HPE completes $925 million Silver Peak acquisition
HPE has completed the acquisition of SD-WAN business Silver Peak for $925 million. Silver Peak will become a part of Aruba, a Hewlett Packard Enterprise company. It will strengthen Aruba Edge Services Platform, helping to advance enterprise cloud transformation with an edge-to-cloud networking solution covering all aspects of wired, wireless local area networking and wide area networking.
NEW
Global RPA revenues to hit $1.9 billion in 2020 - Gartner
Global robotic process automation (RPA) software revenue is projected to reach $1.89 billion in 2021, an increase of 19.5% from 2020, according to Gartner. The pandemic and ensuing recession increased interest in RPA for many enterprises. Gartner predicts that 90% of large organisations will have adopted RPA in some form by 2022 as they look to digitally empower critical business processes.
NEW
Gigamon partners with Nokia for 5G
Gigamon and Nokia are teaming up to build an analytics solution for 5G networks. In what the pair are calling an industry first, the tool will "significantly enhance the customer experience" by analysing network data in real-time. Silicon Valley-based Gigamon already works with 3,000 organisations on improving their network visibility. Over one billion 5G connections are expected by 2023.
4H
U.S. banks allowed to hold reserves for stablecoins
The U.S. Office of the Comptroller of the Currency has issued its first-ever official guidance on stablecoins, cryptocurrencies whose value is linked to traditional currencies. The OCC has allowed U.S.banks to hold deposits as reserves for stablecoins that represent fiat currency. Banks have been providing services to stablecoin users for years, but the legality of these operations was unclear.
4H
Apple supplier Pegatron to invest $1 billion in Vietnam production
Pegatron is set to invest $1 billion in production facilities in Vietnam. The electronics manufacturer, a major supplier to Apple, wants to improve the production of solutions for computing, communication and consumer electronics. It is believed Pegatron is also planning to create 22,500 jobs in the country. Initial investment will be in the city of Haiphong.
5H
PagerDuty acquires Rundeck in $100 million deal
PagerDuty Inc. has signed a deal to acquire DevOps Automator Rundeck Inc. for $100 million. Rundeck is known for developing a popular opensource software tool for troubleshooting technical issues in information technology systems. Rundeck had previously raised only $3 million in funding. PagerDuty will pay 60% of the agreed transaction value in cash and the rest in stock.
22H
French telecom Iliad to buy Polish mobile operator Play for $4.1 billion
French telecoms outfit Iliad has announced a takeover deal for the Polish mobile operator Play in a cash and shares deal worth $4.1 billion. Play is the leading mobile operator in Poland and also has a presence in its television market. Having been approved by Play's board of directors, the deal will now need to be rubber-stamped by the European Commission.
1D
Cryptocurrency firm Kraken to open a U.S. bank
Kraken will become the first cryptocurrency exchange to open a bank in the U.S. The state of Wyoming has approved Kraken's application to launch the first Special Purpose Depository Institution (SPDI), which will likely be named Kraken Financial. It will be "the first regulated, US bank to provide comprehensive deposit-taking, custody, and fiduciary services for digital assets," Kraken has said.
1D
SoftBank sheds Brightstar as assets sale continues
SoftBank is selling its last telecoms business, Brightstar, after six years of ownership. The conglomerate has been asset stripping in 2020 because of financial difficulties. Brightstar, founded by former Sprint CEO and Chairman Marcelo Claure, provides telecoms services in United States. It will be sold to private equity group Brightstar Capital Partners, but SoftBank will retain a 25% share.
1D
Laser developer IPG Photonics suffers ransomware attack
Leading U.S. laser developer IPG Photonics has been the victim of a ransomware cyberattack that has shut down its information technology systems worldwide. The attack involved the RansomExx strain of ransomware. IPG Photonics builds fibre lasers for cutting, welding and medical use, but it also developed lasers for military use. Its technology has been used by the U.S. Navy on the USS Ponce.
1D
DoiT signs $1.5 billion deal to deliver Google Cloud services
The cloud specialist business DoiT International has agreed a tie-up with Google with the target of delivering $1.5 billion in Google Cloud infrastructure and services over the next five years. DoiT will deliver cloud services, including the Anthos app modernisation platform, to its global customer base through its cloud management platform, including cost optimisation and governance.
1D
Chime value soars to $14.5 billion after bumper funding round
Chime has become the most valuable consumer fintech in the United States after a bumper finding round, according to CNBC. The service, which delivers banking tools through mobile phones, raised $485 million in a Series F funding round, taking its valuation to $14.5 billion, more than double it value just nine months ago. Investors include Coatue, Iconiq, Tiger Global and Whale Rock Capital.
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3D
Paladin appoints former NCSC head as managing director
Cyber and deep tech investor, Paladin Capital Group has appointed Ciaran Martin as a Managing Director. Ciaran joins Paladin from the UK Government’s National Cyber Security Centre, which he established as its first CEO in 2016. Michael Steed, Founder stated: “Ciaran Martin is an exceptional talent in the cyber sphere and we’re profoundly pleased to have him join the Paladin team."
4D
Salesforce to add 12,000 jobs over the next year
Salesforce will expand its workforce by 12,000 over the next year, says CEO Marc Benioff (pictured). 4,000 new roles will be added over the coming six months. The company currently employees over 54,000 workers globally. Salesforce software has been in high demand during the coronavirus pandemic. Last month, however, it announced it was laying off 1,000 people despite a record quarter.
4D
Trump gives order to ban TikTok and WeChat in U.S.
Donald Trump has given the order to ban downloads of Chinese platforms TikTok and WeChat from Sunday onwards, citing national security concerns. WeChat is to be banned on Sunday, with a ban on TikTok coming into force on November 12. Oracle has been in talks with TikTok owners ByteDance with a view to purchasing the U.S. operations of TikTok that it believes will address those security concerns.
4D
SiFive hires Qualcomm executive Patrick Little as CEO
SiFive has hired former Qualcomm executive Patrick Little as its new CEO. SiFive is focused on the design of customized RISC-V processors Little's challenge will be to establish SiFive's processors as an alternative to Arm in the wake of its acquisition by Nvidia. “The world is moving away from generic processors to workload-focused and optimized solutions,” Little told VentureBeat.
4D
Unity sells shares above its target range, raising $1.3 billion
Unity Software Inc has sold shares in its New York initial public offering (IPO) above its target range, raising $1.3 billion at a valuation of $13.7 billion. Recently, Snowflake raised $3 billion by also pricing its shares above its targeted range. Unity sells a 3D gaming engine for video games developers and has more than 1.5 million users. The company has sold 25 million shares at $52 apiece.
4D
Ericsson pays $1.1 billion for Cradlepoint
Ericsson has strengthened its enterprise 5G offering with the $1.1 billion acquisition of Cradlepoint. The deal is expected to fully close by the end of 2020. Cradlepoint offers Wireless Edge WAN solutions for both 4G and 5G. The acquisition is Ericsson's biggest in ten years. Its CEO said it "is key to our strategy of helping customers grow the value of their 5G network investments".
4D
JupiterOne raises $19 million for cybersecurity asset management
JupiterOne Inc., a cybersecurity management automation startup has raised $19 million in a Series A funding round led by Bain Capital Ventures, with participation from Rain Capital and LifeOmic. The funds will serve to expand JupiterOne's cybersecurity platform and bolster R&D and go-to-market efforts. As part of the deal, Bain partner Enrique Salem will join the company's board.
4D
Accenture announces $3 billion Accenture Cloud First group
Accenture has launched Accenture Cloud First with a $3 billion initial investment over three years. The major move aims to help help clients across all industries rapidly become “cloud first” businesses and accelerate digital transformations to realise greater value at speed and scale. Karthik Narain will lead Accenture Cloud First and join the Global Management Committee, effective October 1.
5D
Commerce subscription platform AppDirect raises $185 million
The subscription commerce platform AppDirect has closed a funding round worth $185 million, taking its total funding to date to $465 million. Global institutional investor Caisse de dépôt et placement du Québec and existing investors participated in the round. The company said new funding will supports accelerated organic expansion, strategic acquisitions and additional hiring.
5D
Uber to sell part of $6.3 billion Didi stake
Uber Technologies Inc. has revealed its plans to sell part of its $6.3 billion stake in Chinese ride-hailing firm Didi Chuxing to raise cash. Bloomberg has reported talks between Uber's CEO Dara Khosrowshahi and SoftBank Group Corp that might lead to a possible sale to the Japanese conglomerate and other investors. Didi is believed to be unlikely to buy shares itself.
5D
Amazon will open 1,000 warehouses in the U.S.
Amazon.com Inc. has announced that it will open 1,000 small delivery hubs across the U.S., with this number possibly rising to 1,500 in the future. The move is clearly aimed to compete with Wal-Mart Stores Inc. and Target Crop., who both have warehouses all over the country and are able to deliver products on the day. The new Amazon stores will be located in small neighbourhoods and suburbia.
5D
Libra appoints former HSBC Europe head to plot crypto development
Libra, the Facebook-backed cryptocurrency project, has appointed the former European head of HSBC, James Emmett, to head up its its crypto development. Emmett will join the Libra Association’s operating subsidiary, Libra Networks LLC, as managing director from the beginning of October. Libra has made a number of key appointments recently, including HSBC’s former chief legal officer Stuart Levey.
5D
"True" AR glasses "five to 10 years away" - Facebook chief scientist
Michael Abrash, Facebook's chief scientist, has said that "true" augmented reality glasses are still "five to 10 years away". He spoke after the company announced its first-generation product will be launched in collab with RayBan next year. Abrash said the optimal display and audio tech can't currently be fitted into a device the size of glasses. "I’m talking about the future," he told Reuters.
5D
Data warehousing startup Narrator raises $6.2 million
Narrator has pocketed $6.2 million from a Series A funding round. The startup claims to be disrupting data warehousing with a new approach to modelling. Star schema is the standard to organise data for modelling and analysis. Narrator's round was led by Initialized Capital. Its service is designed so queries can be made faster. CEO Ahmed Elsamadisi was previously lead data scientist at WeWork.
5D
Nokia digitalises 100% of its 5G network deployments
Nokia today announced it has digitalised 100% of its 5G network deployments around the world. It said through digitalisation, machine learning and automation, it is simplifying the deployment of the network infrastructure, accelerating both time-to-market and return on the 5G investment for operators. it has seen a reduction in site visits, improvements in installation quality and cycle times.
5D
Digital quantum computing outfit Seeqc raises $22.4 million
Digital quantum computing company Seeqc has secured a total of $22.4 million in its Series A fundraising, led by the EQT Ventures fund. It said the raise would be used to advance commercially viable application-specific quantum computing systems.Ted Persson, Partner and investment advisor at EQT Ventures, will join Seeqc’s board of directors. The funding also includes $5 million from M Ventures.
6D
Telefónica and Rakuten partner on key 5G tech
Telefónica has partnered with Rakuten to develop OpenRAN technology for 5G networks. OpenRAN uses software to run network functions on the cloud, reducing the need for physical infrastructure. Telefónica's Enrique Blanco said "networks are evolving towards end-to-end virtualisation". The pair will also jointly work on 4G/5G Core and OSS technology, said a statement.
6D
Pure Storage snaps up Portworx for $370 million
Storage giant Pure Storage has agreed a deal worth $370 million to acquire Kubernetes data services platform Portworx. This deal represents Pure’s largest acquisition to date and the company's deeper expansion into the fast-growing market for multi-cloud data services to support Kubernetes and containers. Portworx's clients include Carrefour, Comcast, GE Digital, Kroger, Lufthansa, and T-Mobile.
6D
China reaches 110 million 5G users
China has already registered 110 million 5G users, says the China Academy for Information and Communications Technology. These users have agreed 5G contracts over the past year, making China 5G's largest market. Government and industry are working together to ensure the country is a leader in the 5G race. In July, officials said it was adding an average of 15,000 5G base stations every week.
6D
Opendoor to go public via $4.8 billion SPAC merger
Property technology unicorn Opendoor Labs Inc.has agreed to go public through a reverse merger with the SPAC Social Capital Hedosophia Holdings Corp. II. The deal values the online real-estate platform at $4.8 billion. Its main investors are SoftBank Group Corp., General Atlantic, NEA and Norwest Venture Partners. The deal supports SoftBank's target of selling $41 billion in assets this year.
7D
JP Morgan and BlackRock turn to AI for account opening
JP Morgan and Blackrock have linked up with Sapphyre to automate the account opening process. Sapphyre's AI technology simplifies the process of opening accounts with custodians and brokers by eliminating up to 75% of the manual tasks involved. JP Morgan has been testing the technology over the past six months, and will now use it with BlackRock and other asset managers.
7D
Oracle presents two new cloud security tools
Oracle Corp. has launched two security tools that aim to reduce data breaches caused by human errors which, according to Gartner Inc. have exposed 30 billion records since 2018. Oracle Security Zones and Oracle Cloud Guard are both free and already available. Fred Kost, Oracle’s Vice President told CRN: “We need to help customers with that, not get into a blame-game because they misconfigured."
7D
IBM unveils its roadmap for quantum computing
IBM plans to build a 1,000-qubit quantum machine by 2023. The tech giant has published its roadmap for quantum computing hardware. Its current quantum processors can achieve maximum power of 65 qubits. To achieve its targets, IBM is also building a new "dilution refrigerator" to contain the computing chips. Next year it will release a 127-qubit processor, then a 433-qubit machine in 2022.
7D
$650m funding round makes Klarna Europe's highest-valued private fintech
The payments and commerce platform Klarna has raised $650 million in a funding round, taking its valuation to $10.65 billion. It means Klarna is the highest-valued private fintech in Europe and now the fourth highest worldwide. The funding round was led by Silver Lake alongside GIC - Singapore’s sovereign wealth fund - as well as funds and accounts managed by BlackRock and HMI Capital.
7D
Snowflake hikes IPO pricing, values company at $30bn+ - CNBC
Data storage company Snowflake could be in line for a bumper IPO after raising its estimated listing price by 30%. A report by CNBC said that that organisation's updated S-1 filing priced its stock between $100 and $110, up from its earlier estimate of between $75 and $85. The updated pricing would value the business $27.7 billion and $30.5 billion, up from $20.9 billion-$23.7 billion.
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7D
Verizon to pay $6.25 billion to buy Tracfone
Verizon has entered into an agreement with America Movil to acquire Tracfone, the leading pre-paid and value mobile provider in the U.S. The deal is worth $6.25 billion, to be split evenly between cash and stock. Tracfone is the largest reseller of wireless services in the US, serving approximately 21 million subscribers through a network of over 90,000 retail locations across the U.S.
7D
DISH taps Nokia for 5G core contract in United States
DISH has chosen Nokia's cloud-native, 5G standalone Core software to build its U.S. 5G network. The deal follows months of joint testing as Nokia and DISH proved their respective “any cloud” capabilities in multiple cloud environments. The agreement includes subscriber data management, device management, packet core, voice and data core, as well as integration services.
7D
CISA warns of wave of Chinese cyberattacks
The Cybersecurity and Infrastructure Security Agency (CISA) has warned of a wave of cyberattacks by groups affiliated with China's Ministry of State Security (MSS). The attacks are targetting F5 Big-IP load balancers, Citrix and Pulse Secure VPN appliances, and Microsoft Exchange email servers. The vulnerabilities include CVE-2020-5902, CVE-2019-19781, CVE-2019-11510, and CVE-2020-0688.
7D
Airtable closes Series D round at $185 million
Airtable, whose no-code database platform has grown in popularity during COVID-19, has raised $185 million. The Series D round was led by Thrive Capital, though CEO Howie Liu claims his company "didn't need the money". He went on to add that Airtable wanted to "seize the opportunity" and secure itself against future economic uncertainties. Its platform is used by the likes of Netflix and IBM.
8D
Deutsche Telekom and OVHcloud announce Gaia-X tie-up
Deutsche Telekom and OVHcloud have penned a collaboration as part of Europe's Gaia-X cloud project. Gaia-X aims to disrupt the dominance of public cloud giants like AWS and Microsoft in Europe, with focus on data protection. T-Systems, Deutsche Telekom's IT services arm, will build a "sovereign public cloud service" with OVHcloud. It will target the service at both the private and public sectors.
8D
NVIDIA agrees $40 billion package to buy Arm
NVIDIA has agreed a cash and stocks package worth $40 billion to buy Arm Limited from SBG and the SoftBank Vision Fund, making it one of the biggest tech deals of 2020. The combination brings together NVIDIA’s AI computing platform with Arm’s vast computing ecosystem. NVIDIA will continue Arm’s open-licensing model and customer neutrality and expand Arm’s IP licensing portfolio with NVIDIA tech.
8D
ByteDance partners with Oracle after rejecting Microsoft deal
TikTok owner ByteDance will partner with Oracle Corp. to continue to be able to operate in the U.S. ByteDance was previously said to be considering the sale of TikTok in the U.S. to Microsoft after the Trump administration threatened to ban the app. The details of the deal with Oracle, which will need the approval of both Washington and Beijing, have not yet been made public.
10D
Google turns to sport to push cloud services
Google is to provide cloud services for the groundbreaking SoFi Stadium in the United States. SoFi is a $5 billion project that will deliver a venue for the 2022 Super Bowl and the 2028 Olympics. The multi-year agreement will see Google deliver services for both the stadium and the wider Hollywood Park campus. Earlier this year Google agreed to power Major League Baseball's stat-tracking system.
10D
Global IT services outfit Virtusa to be bought for $2 billion
Baring Private Equity Asia (BPEA) has a greed a deal to buy global IT services provider Virtusa for $2 billion. BPEA is one of the largest independent private equity firms in Asia with approximately $20 billion of assets under management. The transaction, which is expected to close in the first half of 2021, is subject to the approval of Virtusa’s shareholders, customary regulatory requirements.
11D
Mastercard launches platform for banks to test digital currencies
Mastercard has announced a virtual testing environment for central banks to evaluate Central Bank Digital Currencies (CBDC). It enables the simulation of issuance, distribution and exchange of CBDCs between banks, financial service providers and consumers. Central and commercial banks, and tech and advisory firms have been invited to partner with Mastercard to evaluate the suitability of CBDCs.
11D
Amazon drafts in Peter Marquez to head up space policy at AWS
Amazon has confirmed the appointment of Peter Marquez as head of space policy at AWS, a role that is a company-first. Marquez has a rich pedigree having served as director of space policy for the U.S.'s National Security Council under the George Bush and Barack Obama administrations. AWS has beefed up its space capabilities with the creation of the AWS Aerospace and Satellite Solutions division.
11D
ByteDance to invest billions in Singapore
ByteDance will strengthen its position in Singapore with billions of dollars of new investment, according to reports. The TikTok owner moved its Southeast Asia headquarters to the city-state last year. It will now employee "hundreds" of new workers, and buy servers to back up data it stores in the United States. The firm is selling TikTok's U.S. assets following threats of a ban in the country.
11D
Tesco will trial drone delivery service
Tesco has teamed up with drone delivery company Manna to trial a home delivery service that will see small items dropped off at customers' homes within 30 minutes of being ordered. The trials will be conducted next month in Co Galway, Ireland, where Manna is already conducting drone medicine-delivery trials. The drones used are able to fly at 50 mph and deliver packages of up to 4kg.