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Telecom Italia considers divesting mobile phone unit — report

Financial News — Wed, 22 May 2013 08:18:03 +0000

Telecom Italia SpA (BIT:TIT) is considering separating its mobile unit and fixed-line network from the rest of its operations, Reuters reported, quoting three insiders.

The split into three parts would allow the telecoms operator to trim indebtedness and personnel costs, one of the people, a senior political source, told the agency.

The move would also favour investments by new parties, the source said.

Telecom Italia said earlier in May it would end its examination of a plan to separate the fixed-line network, which is valued at between EUR12bn (USD15.5bn) and EUR15bn, on 23 May when its board would meet. The Italian group’s chairman Franco Bernabe has said, as cited by Reuters, the spin-off of the netowrk could be time-consuming and that it could not be predicted whether it could be finalised this year, due to the required government and regulatory approvals.

Following a separation of the network, the group might sell a minority stake in it to Italian state-backed financing institution Cassa Depositie Prestiti SpA (CDP), while still keeping the lion’s share in it, Bernabe said.

Il Messaggero had previously reported that Telecom Italia was considering separating the unit, listing 30% to 40% of it on the local stock exchange and selling the remaining 15% to 20% to an investment fund owned by CDP. The newspaper cited a draft copy of a term sheet by Telecom Italia to CDP, which it had seen.

Tobacco group Philip Morris to take full control of Mexican arm in $700m deal

Financial News — Wed, 22 May 2013 06:10:16 +0000

US tobacco group Philip Morris International Inc (NYSE:PM), or PMI, said it will take full control of its Mexican unit through the purchase of the remaining 20% in Philip Morris Mexico SA de CV (PMM) from Grupo Carso SAB de CV (OTCMKTS:GPOVY).

PMI, who worked in partnership with Grupo Carso in Mexico for more than 30 years, said the final price, estimated at some USD700m (EUR542.3m), will be calculated based on a pre-agreed formula and will be subject to adjustments based on the unit’s future performance for two fiscal years after the closing of the transaction.

The maker of top cigarette brand Marlboro expects to complete the deal by 30 September 2013, anticipating it to contribute to its EPS from the fourth quarter of this year, it said.

Philip Morris claims a 73.5% share of Mexico’s tax-paid cigarette market for 2012, when its flagship brand Marlboro led the market with a 53.6% share.

Oil group Cheveron close to selling Egyptian and Pakistani units — report

Financial News — Tue, 21 May 2013 09:56:53 +0000

US oil group Chevron Corporation (NYSE:CVX) is nearing a deal to offload its Egyptian and Pakistani downstream businesses for a total of some USD300m (EUR233m), Reuters reported today, quoting three banking sources.

Although the operations are small, they have attracted significant interest from local and international sector players and there are at least three-non-binding bids, one of the sources said. It added that some of the interested parties wanted to buy the targets in both countries.

According to the sources, the US oil group has engaged Citigroup Inc (NYSE:C) to advise it on the process.

Chevron refused to comment.

Like other big oil firms, Chevron is trying to reduce its downstream operations in order to concentrate on higher-growth exploration and production activities, Reuters commented.

Mexico’s America Movil agrees to acquire Star Wireless Group

Financial News — Tue, 21 May 2013 05:50:38 +0000

Mexican telecommunications group America Movil SAB de CV (NYSE:AMX) unveiled an agreement to buy US mobile virtual network operator (MVNO) Star Wireless Group Inc.

The Mexican group will carry out the transaction through its unit Tracfone Wireless Inc, it said, without disclosing any financial details.

Star Wireless provides prepaid plans for voice, messaging and data among other services to around 1.4m customers.

Completion is seen to take place in the second quarter of 2013, pending regulatory approvals and other customary conditions.

AMX had a portfolio of 262.9m wireless subscribers and 65.3m fixed revenue generating units in the Americas as of 31 March 2013.

Yahoo! and Tumblr forge USD1.1bn acquisition agreement

Financial News — Mon, 20 May 2013 17:40:01 +0000

Yahoo! Inc. (NASDAQ: YHOO) and Tumblr said they have reached an agreement for Yahoo! to acquire Tumblr.

Tumblr will be independently operated as a separate business, with David Karp remaining as CEO. The product, service and brand will continue to be defined and developed as it has been.

With more than 300 million monthly unique visitors and 120,000 signups every day, Tumblr is one of the fastest-growing media networks in the world. Tumblr sees 900 posts per second and 24 billion minutes spent on site each month.

Total consideration is approximately USD1.1bn, substantially all of which is payable in cash.

The transaction, which is subject to customary closing conditions, is expected to close in the second half of the year.

Yahoo! is focused on making the world´s daily habits inspiring and entertaining. Yahoo! is headquartered in Sunnyvale, CA, and has offices located throughout the Americas, Asia Pacific (APAC) and the Europe, Middle East and Africa (EMEA) regions. For more information, visit the pressroom (pressroom.yahoo.net) or the company´s blog (yahoo.tumblr.com).

Alvarion Reports First Quarter 2013 Results

Financial News — Mon, 20 May 2013 17:24:01 +0000

Alvarion Ltd. (NASDAQ: ALVR) said its first quarter revenues totaled USD8.5m, a 4.5% sequential increase.

The company noted its earnings per share were adjusted for its April 1-for-10 reverse split.

“Following the sale of our licensed carrier business, Alvarion is focusing on providing wireless solutions to high growth markets, including solutions for vertical markets, mobile offload and Wi-Fi access,” said acting CEO Assaf Katan.

In the fourth quarter of 2012, revenues were USD8.2m, and the first quarter of 2012 boasted USD15.6m..

Alvarion provides optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of telecom operators, smart cities, security, and enterprise customers. The company´s website is at.alvarion.com.

Perficient buys Clear Task

Financial News — Mon, 20 May 2013 17:08:01 +0000

Perficient, Inc. (NASDAQ: PRFT) reported it has acquired San Francisco-based Clear Task, Inc., an USD8m annual services revenue consulting firm focused entirely on the salesforce.com product suite.

Perficient´s current annualized revenues are now approaching USD380m, and the transaction is expected to be accretive to adjusted earnings per share immediately. With the acquisition, the company is raising its full year 2013 revenue guidance to a range of USD362m to USD382m from the previously provided range of USD358m to USD378m.

Clear Task CEO Andrew O´Driscoll and vice president of sales and services Marc LeCours join Perficient in key leadership roles.

The consideration paid in the transaction is approximately USD7.9m and includes USD6.3m in cash and approximately USD1.6m worth of Perficient common stock.

Randy Grigg, managing partner of Ridgecrest Advisors, advised Perficient on the transaction in his capacity as a registered investment banking agent of M&A Securities Group, Inc.

Perficient is a leading information technology consulting firm serving Global 2000 and enterprise customers throughout North America. Perficient´s professionals serve clients from a network of offices across North America and three offshore locations, in Eastern Europe, India, and China.

Recognized as one of the 50 fastest growing businesses in San Francisco, Clear Task provides sales force implementations and customizations for enterprise customers.

Kohl's picks Interactive Intelligence cloud communications solution

Financial News — Mon, 20 May 2013 16:56:01 +0000

Interactive Intelligence Group Inc. (NASDAQ: ININ) said its long-time customer Kohl´s Department Stores (NYSE: KSS) has entered into a long-term, multi-year contract to migrate its contact centre to the Interactive Intelligence Communications-as-a-Service solution.

While Kohl´s has seen benefits from the Interactive Intelligence on-premises solution, the company decided that a move to the cloud would enable it to continue to focus on its core business and effectively meet peak seasonal demands. The Interactive Intelligence cloud solution includes a service level agreement that ensures Kohl´s will get optimal maintenance and support.

The migration will begin immediately and is planned for completion by the end of 2014.

Interactive Intelligence Group is a global provider of contact centre, unified communications, and business process automation software and services. The company´s website is at www.inin.com.

CSG International solution wins innovation award

Financial News — Mon, 20 May 2013 16:40:01 +0000

CSG Systems International, Inc. (NASDAQ: CSGS) said its Content Direct solution has received a Content Innovation of the Year award in the vendor section of the Pipeline´s 2013 COMET Innovation award competition.

The awards recognize advancement and innovation in communications and entertainment technology (COMET).

Content Direct offers content providers the opportunity to capitalize on the explosive demand for multi-device, direct-to-consumer digital content by providing interactive storefronts where consumers can browse, rent, purchase, and subscribe to premium digital content. It also gives the provider all of the content management, customer management, digital rights management, commerce management, customer care, and analytics capabilities required to operate a complete digital content business, including the most comprehensive UltraViolet solution.

CSG Systems International is a market-leading business support solutions and services company serving the majority of the top 100 global communications service providers, including leaders in fixed, mobile and next-generation networks such as AT&T, Comcast, DISH Network, France Telecom, Orange, T-Mobile, Telefonica, Time Warner Cable, Vodafone, Vivo and Verizon. For more information, visit our website at www.csgi.com.

Direct Insite partners with Data Dimensions on invoice automation solution

Financial News — Mon, 20 May 2013 16:24:01 +0000

Direct Insite (OTCBB: DIRI) reported it has added Data Dimensions Corp as a preferred partner for mailroom, scanning and data capture.

Partnering with Data Dimensions provides Direct Insite´s clients with a modular, end-to-end service for automating the capture of data from mailed-in, faxed or e-mailed invoices. Images and data from the invoices captured by Data Dimensions are electronically transmitted to Direct Insite´s Invoices On-Line e-invoicing platform, where they are processed. Consolidating all invoices into Invoices On-Line eliminates standalone systems and processes, streamlines approval workflows, ensures processing consistency, and provides greater visibility into invoice status and information.

Since 1982, Data Dimensions has been helping clients better manage business processes and workflows by bridging the gap of automation, technology, and physical capabilities. To learn more about Data Dimensions, visit www.datadimensions.com.

Direct Insite delivers cloud-based e-invoicing solutions for AP, AR and payments automation. For nine years, Direct Insite has built a track record in automating some of the most demanding financial environments. To learn more, visit www.directinsite.com.