VARINDIA IT MAGAZINE

Fiserv has inked a mega deal of $22 billion acquisition of all-stock deal to buy First Data to create a payments and fintech behemoth. Under the agreement, First Data shareholders will receive a fixed exchange ratio of 0.303 Fiserv shares for each share of First Data common stock they own. The transaction is expected to close in the second half of the year, subject to shareholder and regulatory approval.   Fiserv shareholders will own 57.5% of the combined company and First Data shareholders 42.5%. Followed by this mega deal announcement, the shares of First Data started soaring more than 20% in pre-market trading, while Fiserv saw a six per cent dip. With this deal signed by the two majors players in the fintech industry, the combination entity will offer a range of payments and financial services, including account processing and digital banking solutions; card issuer processing and network services; e-commerce; integrated payments; and the Clover cloud-based point-of-sale ...

Hitachi Vantara has announced its intent to acquire REAN Cloud LLC. This acquisition will reinforce Hitachi Vantara’s ability to accelerate secure enterprise cloud adoption across multi-cloud environments and strengthen its ability to manage and operate traditional applications as well as emerging workloads in Artificial Intelligence and Machine Learning. Hitachi Vantara shares REAN Cloud’s passion for creating leading-edge solutions and will leverage REAN Cloud’s expertise to speed delivery of transformative digital solutions for its combined customers and partners. Bobby Soni, Chief Solutions and Services Officer of Hitachi Vantara, says, “Enterprises today want the ultimate flexibility in selecting the right environment for their varied workloads and development requirements. Moving and managing data and applications across environments requires careful orchestration through a unified cloud platform. Hitachi Vantara already offers trusted and reliable private cloud solut...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Seagate Technology and LaCie have announced that Seagate, Philippe Spruch, LaCie’s Chairman & CEO, and his affiliate, have entered into a binding share purchase agreement to purchase all of the shares of Philippe Spruch and his affiliate, representing 64.5% of the shares of LaCie for a provisional price of €4.05 per share. As previously announced, Ricol Lasteyrie & Associés has been appointed as an independent expert by the Board of Directors of LaCie on June 23, 2012. The transaction has already received clearance from the US Antitrust Authorities, but remains subject to regulatory approval in France and Germany (antitrust filing) and to other customary closing conditions. Following the acquisition of the control of LaCie, Seagate will file an all-cash simplified tender offer on the remaining LaCie shares at a price of €4.05 (as potentially adjusted downwards as set forth above). This price shall be increased by 3% in ...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   Avaya has finalized the acquisition of Radvision. Pursuant to the terms of the merger agreement, each outstanding ordinary share of Radvision that was outstanding immediately prior to the effective time of the merger has been automatically converted into the right to receive US$11.85 in cash, without interest and less any applicable withholding taxes, for a total transaction amount of approximately US$230 million. Radvision will operate as an indirect, wholly-owned subsidiary of Avaya under the Radvision brand. With the close of the acquisition, Avaya is poised to deliver video collaboration solutions suitable for businesses of any size. The combined portfolios tackle the expensive, complex, disconnected experiences that often limit broader adoption of video as a business collaboration tool today. Together, Avaya and Radvision will build on the interoperability that exists between the two portfolios to extend video collaboration in...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE GE has agreed to acquire a majority stake in the Advanced Systek. The transaction will enhance GE's ability to offer solutions to customers in regions such as South Asia and the Middle East. Terms of the transaction were not disclosed. By combining Advanced Systek's capabilities with GE technology and world-class product suite of flow meters, control valves, UPS, controllers and instrumentation, this transaction enables the GE Oil & Gas business to broaden its offerings for the industry and deepen its relationship with customers seeking solutions. Under the terms of the transaction, the senior management team of Advanced Systek will continue to serve as directors and will work with GE to utilize their industry expertise to help the business grow. John L. Flannery, President & CEO, GE India, said, "GE and Advanced Systek complement each other very well. Advanced Systek's capabilities and its established track record in...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Ericsson has completed the acquisition of Telcordia for US$1.15 billion in an all-cash transaction, on a cash and debt-free basis. Telcordia is now part of the Ericsson Group and its approximately 2,600 employees have joined Ericsson. The closing follows the announcement on June 14, 2011, that Ericsson had entered into a merger agreement with LLC and Warburg Pincus to acquire 100 per cent of the shares of Telcordia. Telcordia will be managed by Ericsson's business unit Multimedia but sales and margins will be shared between Multimedia and Services depending on portfolio mix. Per Borgklint, Head, Business Unit Multimedia, Ericsson, said, "The addition of Telcordia's skilled people and knowledge, a good multi-vendor product portfolio and an important customer base in North America, complement Ericsson's already established position in the OSS/BSS space. OSS and BSS are the key to drive the customer experience and serve as the...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE Presidio Inc. has unveiled that it has completed its previously announced acquisition of INX Inc. In accordance with the terms of the definitive agreement, which was announced on November 1, 2011, Presidio has claimed to acquire all outstanding common stock of INX. Going forward, INX is said to operate as a subsidiary of Presidio Networked Solutions, Inc., and is expected to no longer be a publicly traded stock on the NASDAQ exchange. Presidio, Inc. is owned by American Securities LLC and management. Presidio is now said to employ more than 1,800 IT professionals operating out of over 45 offices across the United States as a result of the acquisition. Presidio claims to offer clients unparalleled access to world-class consulting, engineering and technical resources. For More Details See www.varindia.com