Gerry's Feed
Oct 13, 2014

Intel gains a new ally in China’s chip wars: Beijing

BEIJING/SAN FRANCISCO (Reuters) – Intel’s investment of up to $1.5 billion in two fast-growing Chinese mobile chipmakers has effectively aligned the U.S. giant with a third party – a Beijing government intent on producing a viable domestic challenger to the likes of Qualcomm and Samsung.

For more than a decade, China has targeted semiconductor design and manufacture as a major focus of its industrial policy. Activity has picked up markedly over the past year with a spate of cross-border mergers and cooperation deals.

Sep 29, 2014

Lenovo says $2.1 billion IBM x86 server deal to close on Wednesday

BEIJING (Reuters) – Lenovo Group Ltd (0992.HK: Quote, Profile, Research, Stock Buzz) will close its acquisition of International Business Machines Corp’s (IBM) (IBM.N: Quote, Profile, Research, Stock Buzz) x86 server division on Oct 1 for $2.1 billion, giving the Chinese tech firm the firepower to win business clients from U.S. rivals.

The closing purchase price is lower than the $2.3 billion announced in January because of a change in the valuation of inventory and deferred revenue liability, Lenovo said. Roughly $1.8 billion will be paid in cash and the remainder in stock.

Sep 29, 2014

Lenovo says $2.1 bln IBM x86 server deal to close Wednesday

BEIJING, Sept 29 (Reuters) – Lenovo Group Ltd will
close its acquisition of International Business Machines Corp’s
(IBM) x86 server division on Oct 1 for $2.1 billion,
giving the Chinese tech firm the firepower to win business
clients from U.S. rivals.

The closing purchase price is lower than the $2.3 billion
announced in January because of a change in the valuation of
inventory and deferred revenue liability, Lenovo said. Roughly
$1.8 billion will be paid in cash and the remainder in stock.

Sep 26, 2014

Intel to invest up to $1.5 bln in two Chinese mobile chipmakers

BEIJING/SAN FRANCISCO, Sept 26 (Reuters) – Intel Corp
said it will pay as much as $1.5 billion for a 20
percent stake in two mobile chipmakers with ties to the Chinese
government, in the hopes of catching up in a smartphone chip
industry dominated by rival Qualcomm Inc.

Intel will acquire the stake in Spreadtrum Communications
and RDA Microelectronics through a deal with Tsinghua Unigroup,
a government-affiliated private equity firm which owns the two
mobile chipmakers.

Sep 26, 2014

Intel investing in China mobile chipmakers: sources

BEIJING/SAN FRANCISCO (Reuters) – Intel Corp is close to announcing an investment in Chinese-government affiliated mobile chipmakers Spreadtrum Communications and RDA Microelectronics, its latest move to catch up in a smartphone chip industry led by Qualcomm Inc, according to two sources with knowledge of the plan.

It was unclear how much Intel is paying or what portion of the companies the U.S. chipmaker is buying. The acquisition could be made through Tsinghua Unigroup, a government-affiliated private equity firm controlled by Tsinghua University in Beijing, one of the sources said. Tsinghua Unigroup owns Spreadtrum and RDA.

Sep 25, 2014

Intel investing in China mobile chipmakers

BEIJING/SAN FRANCISCO (Reuters) – Intel Corp is close to announcing an investment in Chinese-government affiliated mobile chipmakers Spreadtrum Communications and RDA Microelectronics, its latest move to catch up in a smartphone chip industry led by Qualcomm Inc, according to two sources with knowledge of the plan.

It was unclear how much Intel is paying or what portion of the companies the U.S. chipmaker is buying. The acquisition could be made through Tsinghua Unigroup, a government-affiliated private equity firm controlled by Tsinghua University in Beijing, one of the sources said. Tsinghua Unigroup owns Spreadtrum and RDA.

Sep 23, 2014

Alibaba’s Jack Ma rises to top of China rich list as tech tycoons gain

BEIJING, Sept 23 (Reuters) – Jack Ma, executive chairman of
Alibaba Group Holding Ltd, has become China’s richest
man with a fortune estimated at $25 billion, underscoring the
ascension of tech tycoons over real estate peers in the world’s
second biggest economy.

Ma knocked Wang Jianlin, head of the Wanda property group,
into second place with $24.2 billion, according to this year’s
list of China’s super-rich published by Hurun Reports Inc.

Sep 18, 2014

Apple’s iPhone 6 still one license away from elusive China launch

BEIJING (Reuters) – Apple Inc (AAPL.O: Quote, Profile, Research, Stock Buzz) is still awaiting a critical license from Chinese regulators before it can sell its new iPhone 6 in one of the company’s most important markets.

The official Xinhua news agency said on Thursday that Apple’s new iPhone had been given regulatory approval for use on domestic frequencies, but the phone cannot be sold in China until a key network license is granted. The Xinhua report did not indicate when this is likely to happen.

Sep 18, 2014

Apple hiring manager to handle China government data requests

BEIJING (Reuters) – Apple Inc is hiring a head of law enforcement in Beijing to deal with user data requests from China’s government, according to a public job listing, after it last month began storing private data on Chinese soil for the first time.

According to the job listing, posted on professional networking site LinkedIn, the position will handle the “increasing number of third-party requests for access to Apple controlled data within China.”

Sep 14, 2014

Insight – Simon Xie: Jack Ma’s unassuming lieutenant at Alibaba

BEIJING (Reuters) – Inside Alibaba, where co-founders are revered like rock stars, relatively few employees know about the soft-spoken executive who for years kept his same cramped office, unfashionable clothes and the self-effacing demeanour of a metalworker’s son.

But for investors in Alibaba Group Holding Ltd’s potentially record initial public offering, Simon Xie, a co-founder and vice president, represents one of the e-commerce company’s most important figures: he’s the only individual besides Executive Chairman Jack Ma who owns the domestic Chinese companies and holds the operating licenses that underpin Alibaba’s corporate structure.