Spain’s Iberdrola sells stake in gas pipeline operator Medgaz

Spanish utility major Iberdrola SA (MCE:IBE) on Friday unveiled a EUR146m (USD193.4m) deal to sell its 20% stake in gas pipeline operator Medgaz SA to Fluxys Belgium NV (EBR:FLUX).

Medgaz was set up in 2001 to design, build and run a pipeline that connects Algeria to Spain. Other shareholders include Spanish oil group Cepsa and Algeria’s Sonatrach, which were its initial founders.

Spain-based Medgaz operates a deep water gas pipeline from Algeria to Europe through Spain, the first such project built at 2,000 metres in the Mediterranean Sea.

The pipeline is to supply gas from Beni Saf on the Algerian coast to Almeria in Andalusia region of Spain, according to Medgaz’ website

TeleCommunication Systems sells 2 single gesture map navigation patents to IP Cube Partners

TeleCommunication Systems, Inc. (NASDAQ: TSYS) and IP Cube Partners Co. Ltd of South Korea, said that TCS has sold two of its US patents to IP Cube Partners for a multi-seven-figure payment.

TeleCommunication Systems, Inc. (NASDAQ: TSYS) and IP Cube Partners Co. Ltd of South Korea, said that TCS has sold two of its US patents to IP Cube Partners for a multi-seven-figure payment.

The two patents are: “Single Gesture Map Navigation Graphical User Interface for a Personal Digital Assistant” (US Patent No. 7,142,205) and “Single Gesture Map Navigation Graphical User Interface for a Thin Client” (US Patent No. 7,439,969). The patents involve the use of a stylus for navigating a map application on a hand-held device, such as a personal digital assistant or smartphone.

“IP Cube Partners is one of South Korea’s leading intellectual property companies, and the sale of these two patents represents a next step in our program of monetising the company’s growing IP (intellectual property) portfolio,” said Maurice B. Tose, TCS chairman, CEO and president.

With more than 15 years of investing in innovations for public safety, mobile location, messaging and the wireless communication fields, TCS has created an impressive intellectual property portfolio. In calendar year 2012, TCS was issued 52 US patents, which brings the total number of patents issued worldwide to date to 271; TCS also filed 86 US patents, with more than 380 patent applications pending worldwide.

TeleCommunication Systems is a world leader in highly reliable and secure mobile communication technology. The company’s website is at www.telecomsys.com.

KVH double broadband capacity for Caribbean

KVH Industries, Inc. (NASDAQ: KVHI) said it has doubled the capacity of its mini-VSAT Broadband network in the busy Caribbean region.

KVH Industries, Inc. (NASDAQ: KVHI) said it has doubled the capacity of its mini-VSAT Broadband network in the busy Caribbean region.

The capacity increase was provided as part of the ongoing global network upgrade involving deployment of variable coding, spreading, and modulation technology provided by ViaSat, Inc., KVH’s partner in the mini-VSAT Broadband network. This was the second major upgrade to the mini-VSAT Broadband network in less than a month, following the recently announced improvements that increased the capacity in Europe by more than 60%.

KVH Industries, Inc., is the provider of in-motion satellite TV and communications systems, having designed, manufactured, and sold more than 150,000 mobile satellite antennas for applications on vessels, vehicles, and aircraft.

NeuLion selected as digital provider for the US and Canada

NeuLion, Inc. (TSX: NLN) said it has partnered with TSN of Canada and the National Hockey League to deliver the 2013 International Ice Hockey Federation World Junior Championship Tournament to Canada and the US.

NeuLion, Inc. (TSX: NLN) said it has partnered with TSN of Canada and the National Hockey League to deliver the 2013 International Ice Hockey Federation World Junior Championship Tournament to Canada and the US.

TSN is a division of Bell Media, which is owned by BCE Inc. (TSX: BCE) (NYSE: BCE), Canada’s largest communications company.

The NeuLion Sports Platform will deliver, through TSN.ca, live streaming of all games, including pre-competition match-ups and games on demand. Canadian fans can purchase a tournament streaming package or select games to watch online or on their mobile and tablet devices. Full tournament package (20 games) is $19.99 and per game cost is $3.99. Fans can go to http://worldjuniors.tsn.ca/tsn/ for information and to subscribe. Last year, 15.4 million Canadians watched some part of the World Juniors on TSN.

Separately, in the United States, the NeuLion Sports Platform will deliver, through NHL.com, a complimentary digital service to fans to watch all of Team USA’s games live on NHL.com. The live coverage, only available inside the US, will be supplemented by wraparound content on NHL.com including the latest tournament information, scores, and highlights to ensure fans don’t miss any of the action.

Founded in 2004, NeuLion offers an end-to-end solution to deliver live and on-demand sports content to any Internet-enabled device. NeuLion enables content owners, distributors and cable operators technology tools that afford them to capitalize on the massive consumer demand for viewing video content on PCs, smartphones, iPads and other similar devices. NeuLion’s customers include major sports leagues, cable operators and entertainment companies. NeuLion is based in Plainview, NY. For more information about NeuLion, visit www.neulion.com.

magicJack product to accommodate different kinds of connections

magicJack VocalTec, Ltd. (NASDAQ: CALL) s that the newest product has been modified to include two USB slots, one USB plug, a SD micro slot, one RJ11 jack and one RJ45 jack.

magicJack VocalTec, Ltd. (NASDAQ: CALL) s that the newest product has been modified to include two USB slots, one USB plug, a SD micro slot, one RJ11 jack and one RJ45 jack.

With LTE 4G progressing so quickly in the United States and throughout the world, the company modified the newest product for a few months to accelerate the ability to offer discounted Internet access to new and existing customers using this device besides other functions and features. This will provide many people their first opportunity to take advantage of high-speed Internet access.

magicJack VocalTec Ltd., the inventor of VoIP including the softphone and magicJack, has achieved sales of over ten million of the easy-to-use, award-winning magicJack since the device’s launch in 2008, and has the use of over 30 patents, some dating to when the company invented VoIP.

Diffusion Million Arthur tops app store in Korea

Shanda Games Ltd. (NASDAQ: GAME) reported that the iOS version of Diffusion Million Arthur, a mobile game published by Shanda Games’ subsidiary Actoz Soft (052790.KQ), is currently the top grossing app among all categories in Apple’s local App Store following the official launch in Korea on December 20, 2012.

Shanda Games Ltd. (NASDAQ: GAME) reported that the iOS version of Diffusion Million Arthur, a mobile game published by Shanda Games’ subsidiary Actoz Soft (052790.KQ), is currently the top grossing app among all categories in Apple’s local App Store following the official launch in Korea on December 20, 2012.

Diffusion Million Arthur is an online mobile card game developed by Square Enix, a leading game developer in Japan. Based on the folklore surrounding King Arthur, gamers are on a quest to recruit knights and collect resources as they fight against other players and in-game characters. The game is free to download and employs an item-based revenue model.

Shanda Games Ltd. is a leading online game developer, operator and publisher in China. Shanda Games offers a diversified game portfolio, which includes some of the most popular massively multiplayer online role-playing games (MMORPGs) and advanced casual games in China, targeting a large and diverse community of users.

Bottomline Technologies releases new C-Series payments platform

Bottomline Technologies (NASDAQ: EPAY) has announced general availability of its latest C-Series release for corporate payments and cash management.

Bottomline Technologies (NASDAQ: EPAY) has announced general availability of its latest C-Series release for corporate payments and cash management.

C-Series provides organizations with a real-time view of cash positions and helps streamline global payment processes by consolidating domestic payments, international financial transactions, and cash reporting into a single, browser-based platform.

C-Series version 3.5 offers a mix of global enhancements for both US and EMEA geographies. These include additional XML support for the Corporate Trade Exchange ACH payment type, as well as new features for SEPA Direct Debit processing and messaging.

Bottomline Technologies provides cloud-based payment, invoice and banking solutions to corporations, financial institutions and banks around the world. The company’s solutions are used to streamline, automate and manage processes involving payments, invoicing, global cash management, supply chain finance and transactional documents. For more information, visit www.bottomline.com.

Advent, Kreke family to squeeze out remaining Douglas shareholders

Advent International Corp and the Kreke family said today that they had so far accumulated a 95.33% stake in German retailer Douglas Holding AG (ETR:DOU).

Together with the 12.73% already owned by the Douglas founding family Kreke, Beauty Holding Three AG, a firm controlled by funds advised by the private equity firm, secured an ownership level of 93.09% in Douglas by 4 December. Another 2.24% stake was bought outside the EUR38.00 (USD50.34) tender bid, whose additional acceptance period is set to expire on 21 December.

Having secured over 95% of the German firm, Beauty Holding can now proceed with a squeeze-out for the rest of the Douglas stock, with the procedure to be carried out until 20 March 2013 at the same price per share, the pair added.

The EUR1.5bn transaction, which was launched in October, will see the Kreke family holding an indirect stake of 20% in Beauty Holding, while Advent funds will own the rest.

Arris acquires Google’s Motorola Home after Pace walks away

UK set-top boxes maker Pace Plc (LON:PIC) said today it was unable to agree satisfactory terms for a potential acquisition of Google Inc’s (NASDAQ:GOOG) Motorola Home business, allowing Arris Group Inc (NASDAQ:ARRS) to ink its own deal for the purchase of that unit.

In a statement, Pace noted it had requested that the Financial Services Authority (FSA) lifted the suspension of its securities from the Official List. The shares were suspended from trading earlier this month, after the company announced it had made an indicative, non-binding proposal for the Internet group’s Motorola Home subsidiary.

In his comment on the matter, Pace CEO Mike Pulli said that the UK firm had considered the potential move to be an opportunity to step up its strategy of transforming core economics, strengthening its position in the PayTV hardware area and extending its operations into software, services and integrated solutions. However, Pace had failed to reach an agreement on terms that would have been in the interests of its stockholders.

Arris announced it had signed a cash-and-stock deal worth USD2.35bn (EUR1.8bn) to acquire the particular business from Google. About USD2.05bn of the consideration will be provided in cash and funded with debt. Following completion, Google will hold a 15.7% stake in the US communications technology specialist.

BNP Paribas to sell Egyptian arm to Dubai-based Emirates NBD

French lender BNP Paribas SA (EPA:BNP) has entered into an agreement to sell its entire 95.2% interest in its Egyptian unit to Dubai-based bank Emirates NBD PJSC (DFM:ENBD), the parties announced today.

In addition, Emirates NBD will acquire the rest of the shares in BNP Paribas Egypt SAE from minority shareholders at the same price, paying a total of about USD500m (EUR377.9m) for the entire business. The figure represents a multiple of 1.6 times the unit’s book value as of September 2012.

The transaction is pending clearance from the Central Bank of Egypt and certain local and UAE regulators. It is seen to be finalised by the end of next year’s first quarter. Through the acquisition, Emirates NBD would enter the Egyptian market as part of its plan to boost presence in retail and corporate banking outside of the UAE.

The Cairo-based bank has a network of 69 branches across the country, some 1,450 employees and about 200,000 retail and 3,000 corporate customers. Last year, it registered net earnings of EGP222m (USD36m/EUR27m) on revenues of EGP731m.

BNP Paribas Corporate Finance and Allen & Overy LLP are consulting the vendor, while Perella Weinberg Partners, HC Securities and Investment, Freshfields Bruckhaus Deringer LLP, Matouk Bassiouny as well as Deloitte and McKinsey & Company Inc are advising the buyer.