Germany’s Federal Office of Justice fines Facebook for $2.26 million

Facebook was fined since it had presented incorrect data on its transporency report on illegal content on its social media platform. In a significant development, German authorities have fined levied a fine of $2.26 million (2 million euros) on Facebook for providing a “distorted picture of the amount of illegal content on the social media…

deal,

Cybersecurity firm Exabeam acquires Israeli-based cloud application security company SkyFormation for undisclosed amount

The deal has multiple synergies that bode well for Exabeam. Exabeam, a California-based cybersecurity firm stated it has acquired Israeli cloud application security company SkyFormation for an undisclosed amount. The financial details of the acquisition are yet to be disclosed. Exabeam’s first acquisition follows its recent $75 million funding round. The deal will enable Exabeam…

Axel Springer acquires 85% stake in U.S. tech company Appcast for around $79 million

The deal is aimed at expanding Axel Springer’s growth strategy through targeted online job recruitment advertisements. Axel Springer, a German publisher stated, Stepstone, its jobs portal, had acquired a 85% stake in Appcast for around $79 million. Appcast is a U.S. tech company that specializes in programmatic advertising. Programmatic advertising uses automation to serve job…

Apple Music reports 60 million subscribers

Spotify, Apple’s rival, has 100 million subscribers. Apple Inc has stated, its online music streaming service has garnered more than 60 million subscribers. Industry leader, Spotify Technology SA, has 100 million premium subscribers. The disclosure made by Apple’s senior vice president of services, Eddy Cue, was confirmed by Apple’s spokesman. Since May 2018, Apple had…

Toshiba’s NAND flash memory plant to resume production in mid-July

Toshiba’s NAND flash memory plant will resume full production from mid-July. On Friday, Toshiba Memory Corp, the world’s second-biggest NAND flash memory producer stated its plant in central Japan will resume full production by mid-July. Toshiba had partially suspended the plant on June 15, following a brief power outage in the region. The suspension also…

5 Japanese automakers join SoftBank-Toyota’s self-driving car JV

The development is significant since it marks an acceleration in the banding of automakers in an industry which is placing growing emphasis on offering vehicle services rather than selling cars to individual drivers. On Friday, five Japanese automakers including Mazda Motor Corp and Suzuki Motor Corp, stated they would be investing 2% of their revenues…