16H
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.
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16H
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.
17H
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.
17H
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.
17H
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.
18H
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.
1D
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.
1D
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.
1D
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.
Issue 24
We speak to a number of key figures driving a multi-year technology transformation at UK roadside recovery leader Green Flag. Elsewhere, nine experts tell us which technologies will steal the show in 2021.
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1D
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.
1D
Personio nabs $125m for HR platform
German startup Personio has raised $125m to rocket-boost its human resources platform. Aimed at SMEs, the platform offers an all-in-one HR hub, from recruiting and onboarding to payroll. This Series D round values Personio at $1.7bn. The company doubled revenues in 2020 as companies adapted to remote working models. Lead investor Index Ventures has previously backed Slack, Dropbox and Zendesk.
1D
Citrix closing in on $2bn acquisition of work management platform Wrike
Citrix is in advanced negotiations to buy work management platform Wrike Inc. for around $2bn, according to a Bloomberg report. Citing "people familiar with the matter", it said that a deal to buy Wrike from Vista Equity Partners could be sealed by as early as this week. It would represent the largest acquisition in Citrix's history, according to figures compiled by Bloomberg.
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4D
LogicMonitor unveils Christina Kosmowski as President
IT infrastructure monitoring and observability platform LogicMonitor has announced the appointment Christina Kosmowski as President. She joins LogicMonitor after spearheading global customer success and services at publicly traded Slack, where she was instrumental in scaling the business from $90m in annual revenue to $1bn in annual revenue. Prior to Slack, Kosmowski spent 15 years at Salesforce.
4D
OneWeb secures $350m funding from SotfBank
The satellite communications company OneWeb, jointly owned by the UK Government and Bharti Global, has secured $350m in funding from SoftBank.It brings the company's funding to $1.4bn and positions the company to be fully funded for its first-generation satellite fleet, totaling 648 satellites, by the end of 2022. SoftBank will gain a seat on the OneWeb Board of directors.
4D
GitLab and IBM team up on DevOps
GitLab will be part of IBM's cloud offering after the pair agreed a partnership. A shared platform called "GitLab for IBM Cloud Pak" will use IBM's AI to speed up development. They say this will drive DevOps maturity for customers. "Together our mutual customers get a unique, open and hybrid solution for DevOps," said an IBM spokesperson. Applications can still be deployed to other cloud services.
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