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Verizon has announced that it is purchased former internet darling AOL for up to $4.4 billion. The company added that the deal will take the form of a tender offer followed by a merger, although AOL will become a wholly-owned subsidiary of the US telecommunication giant. “Verizon’s acquisition further drives its LTE wireless video and OTT (over-the-top video) strategy,” the company said in a statement. The AOL deal has some
Microsoft has confirmed that the hundreds of thousands of people who have enrolled in the Windows Insider programme will get a free copy of Windows 10 when it goes live. Gabriel Aul, who is one of Microsoft’s main spokespeople on Twitter, took to the social network to reveal that Windows 10 RTM will be free to Insider Preview users. RTM (release to manufacturing) refers to the stage where Windows 10
(Reuters) – Internet search company Google Inc’s self-driving cars have been involved in 11 accidents, but have not been the cause of any, over the last six years since the project began, the program’s director said on Monday. “…Not once was the self-driving car the cause of the accident,” Chris Urmson said in a post on technology news website Backchannel’s blog Medium.
By Nate Raymond NEW YORK (Reuters) – Facebook Inc may pursue a lawsuit against law firms that represented a New York man who recently turned fugitive rather than face federal charges that he tried to defraud founder Mark Zuckerberg out of half of the company, a judge ruled on Monday. New York Supreme Court Justice Eileen Rakower said Facebook and Zuckerberg could move forward with a lawsuit alleging law firms,
By Sarah McBride SAN FRANCISCO (Reuters) – NerdWallet said it had raised $64 million in its first round of funding, far more cash than it needs to run the personal finance startup, in part to underscore its growth and show it has the potential to one day be valued at over $1 billion. The cash, an outsized sum for initial funding, will serve as a signaling device as much as
(Reuters) – Mindbody Inc, a maker of software to help run fitness and yoga studios, filed with U.S. regulators on Monday for an initial public offering of common stock. Morgan Stanley, Credit Suisse and UBS Investment Bank are among the underwriters to IPO, Mindbody said.
Rackspace Hosting Inc , a web hosting company, forecast revenue for the current quarter below market estimates and said a strong dollar hurt its revenue growth in the first quarter. Shares of the company, which faces tough competition from Amazon.com Inc , Google Inc and Microsoft Corp were down 13 percent in extended trading on Monday. Revenue from a contract with a “large” financial services company will be realized only
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Perhaps it was inevitable that Verizon would buy AOL, and not just because the telco company is looking to push into content, mobile and video, and AOL—a frequently mentioned takeover target—offers just that.
Americans are becoming more apt to quit their jobs, a government report showed on Tuesday, a sign that a stronger labor market and falling unemployment rate could result in healthier wage growth and inflation. Both wages and inflation tend to follow a rise in the quit rate by a couple of quarters, research from the Chicago Federal Reserve Bank shows. “Once the quit rate gets back to its pre-recession level,
