Archive for March, 2011

AVG Receives $235 Million As Part of Financing Deal

Amit Chowdhry | March 21, 2011 | 465 views | Add a Comment
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AVG Technologies has entered a credit agreement with JP Morgan and Morgan Stanley. The company has secured a five-year term loan for $235 million in their first capital markets transaction. AVG said that the financing will give them resources to realize strategic growth opportunities. AVG was founded in 1991 and their anti-virus software is used by over 110 million consumers and small businesses. [TechCrunch]

Sprint Asks FCC To Look At AT&T’s Takeover Of T-Mobile

Amit Chowdhry | March 21, 2011 | 465 views | Add a Comment
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Sprint Nextel Corporation (NYSE:S) has filed a statement to have regulators look at AT&T’s acquisition offer for T-Mobile USA for $39 billion. The combined carrier would be 3 times the size of Sprint. Below is Sprint’s full statement:

Kickstarter Raises $10 Million From Union Square, Betaworks, and Angel Investors

Amit Chowdhry | March 21, 2011 | 757 views | Add a Comment
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Kickstarter is a New York based startup company that helps projects raises money. Kickstarter has raised $10 million in funding from Union Square Ventures, Betaworks, and several angel investors. Kickstart takes a commission from each funded project. One of the most noteworthy projects that Kickstarter funded is a Robocop statue for the city of Detroit. [BusinessInsider]

Charles Schwab Acquires OptionsXpress For $1 Billion

Amit Chowdhry | March 21, 2011 | 347 views | Add a Comment
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The Charles Schwab Corporation (NYSE:SCHW) is going to acquire online options trading company OptionsXpress for $1 billion in stock. 1.02 shares of Schwab stock will be exchanged for each share of OptionsXpress. This values OptionsXpress at $17.91, which is a 17% premium on the company’s closing stock price on Friday. OptionsXpress will remain as separate brand identities for the time being.

Broadcom Acquires Provigent For $313 Million

Amit Chowdhry | March 21, 2011 | 449 views | Add a Comment
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Irvine, California based Broadcom Corporation (NASDAQ:BRCM) has announced that they are acquiring system-on-a-chip solutions company Provigent for $313 million. Provigent’s products enables wireless system vendors to deliver broadband wireless backhaul systems to network operators. Provigent raised a total of $55 million from Sequoia Capital, Lightspeed Venture Partners, and Pitango. [jPost]

HTC Hires Shashi Fernando As Chief Content Officer

Amit Chowdhry | March 21, 2011 | 608 views | Add a Comment
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HTC has hired Shashi Fernando as the chief content officer of the company. Fernando was previously the Saffron Digital CEO. He will report directly to HTC CEO Peter Chou. “Shashi has tremendous experience in the content industry and I am excited to have him leading HTC’s content strategy,” stated Chou. “Content will continue to be a crucial part of our overall proposition and future success.” Saffron Digital was acquired by HTC in February.

Baby Emerson Laughing At Mommy’s Nose Video Goes Viral

Amit Chowdhry | March 21, 2011 | 1,807 views | Add a Comment
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Above is a video of baby Emerson. Emerson went from being terrified to laughing hysterically upon seeing his mom blow her nose. The video has surpassed 7.5 million views in less than a week on YouTube. [Mashable]

Sprint Starts Selling Their First WP7 Phone: HTC Arrive

Amit Chowdhry | March 21, 2011 | 466 views | Add a Comment
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Sprint Nextel Corporation (NYSE:S) has started taking orders for the HTC Arrive, their first Windows Phone 7 device. The Arrive has is the first WP 7 phone to include an update with copy-and-paste function. The HTC Arrive has the Qualcomm 1GHz Snapdragon processor, a slide-out keyboard, 5 megapixel camera, 720p HD camcorder, and weighs 6.5 ounces. You can buy the Arrive from Sprint and Microsoft stores for $199 with a two-year contract. Amazon is selling the Arrive for $49.99 with a contract. [InformationWeek]

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