The announcement of the $39 billion deal for acquisition of the United States based biotech company Alexion Pharmaceuticals by the British pharma company AstraZeneca resulted in a drop of 9 per cent in the share price of the British drug maker. According ot analysts, investors were spooked by the costs for the company because of…
German investigators are investigating the social media giant Facebook in relation to the company’s virtual reality headset – the Oculus Quest. Facebook has made it mandatory for an owner of the Oculus Quest 2 to have a working account on the social media which has been criticised severely by VR fans and reviewers. According to…
In a statement social network firm Reddit said, it would acquire TikTok rival short-video platform Dubsmash. Although Reddit did not disclose the financial terms of the deal its spokeswoman said the acquisition was based on a combination of cash and stock. TikTok’s proliferance has led many social media companies to add short-video services to their…
On Monday, computer gaming giant Electronic Arts said, it had agreed to acquire Codemasters for $1.2 billion, trumping an earlier agreement between the British company and rival Take-Two Interactive Software. Under the terms of the agreement, shareholders of Codemasters will receive 604 pence per share, compared with the 485 pence per share Take-Two had offered.
According to sources familiar with the matter at hand, Russian-state backed hackers have been monitoring internal email traffic at the U.S. Commerce and Treasury Departments. The hacks that have so far been uncovered may only be the tip of the iceberg. The gravity of the cyber security can be inferred from the fact that it…
In a statement, SolarWinds, an IT company said, monitoring products that it had released earlier this year in March and in June may have been surreptitiously tampered with in a “highly-sophisticated, targeted and manual supply chain attack by a nation state.” The statement by SolarWinds comes even as the U.S. intelligence community is investigating cyber…
According to a source familiar with the matter at hand, Hyundai Motor Group has agreed to acquire a 80% stake in Boston Dynamics from SoftBank Group in a deal worth around $736 million to $828 million (800 billion to 900 billion won). The development assumes significance since Hyundai can leverage the technology to expand automation…
The impending emergency use authorization of Pfizer’s Covid-19 vaccine in the United States is a major money making ticket for the company and its partner in the vaccine development. Within the next year alone, $32 billion in revenues from sale of Covid-19 vaccines will be generated by Pfizer and Moderna, according to projections by Wall…
Some telecommunication companies of the United States have been ordered by the US Federal Communications Commission (FCC) to remove Huawei equipment from their network and replace them with equipment from other vendors. The process of cancellation of China Telecom’s authorisation to operate in the US has also been initiated by the FCC. This is the…
An additional grant of $250 million was pledged by the Bill and Melinda Gates Foundation this week for the purpose of supporting the development and distribution of Covid-19 treatments and vaccines that were of low costs and were much easier to distribute and deliver to the common people. This latest contribution to the cause is…
