Courts approve Nortel wireless sale to Ericsson
The $1.13 billion sale of Nortel Networks' prized wireless assets to Swedish telecoms equipment maker Ericsson received the blessing of Canadian and U.S. courts on Tuesday, with a U.S. bankruptcy judge praising the bidding process. Read Full Article here.
IBM to buy tech software company for $1.2 Bln
IBM Corp. said Tuesday it plans to acquire SPSS Inc., a technology services company that helps businesses predict future trends and observe consumer patterns and behavior, for $1.2 billion. SPSS shareholders will receive $50 a share, a 42 percent premium to Monday's closing price of $35.09 on Nasdaq, according to a company statement. Read Full Article here.
Ontario wants Nortel division sale stopped
Ontario Finance Minister Dwight Duncan is pressing the Canadian government to block the proposed $1.13 billion acquisition of Nortel Networks Corp's wireless division. Duncan told the paper the Ontario government, which is spending billions of dollars to encourage development of high-technology companies, is dismayed that a foreign company would benefit from Nortel's assets. Read Full Article here.
Apple rumored to release media tablet in September
Leaked rumor reports from the Chinese Apple Daily suggest Apple is set to launch the Apple media tablet - aka the Apple Media Pad - in September, with analysts and traders agreeing. This media tablet will accomplish three things without cannibalizing the Macs: First it will be an e-reader that serves as a newspaper/magazine/book replacement, second it will be even more ideal than the iPhone for those who want to play games, watch movies, and use the apps from the app store. Read Full Article here.