Tech wrap: Facebook grabs Gowalla team

December 5, 2011

Facebook has hired the co-founders of Gowalla, one of the pioneering companies that developed the concept of “checking in” at real-world locations with mobile phones. “While Facebook isn’t acquiring the Gowalla service or technology, we’re sure that the inspiration behind Gowalla will make its way into Facebook over time,” Facebook says.

SAP’s $3.4 billion takeover of SuccessFactors will help it keep up with peers in the frenzied race for cloud-computing business, even if the price it paid is very high at first glance, analysts say.

Shares in Samsung Electronics rose more than 2 percent on Monday after Apple’s bid to halt U.S. sales of its Galaxy line of products was rejected, easing concern of slowing growth in its telecom business, which generates revenue of $13 billion per quarter.

Online gaming firm Nexon Co fixed the price for its $1.2 billion initial public offering in Tokyo at the mid-point of a pre-set range, following U.S.-based rival Zynga in settling for a more conservative valuation amid tough stock market conditions.

Comcast Corp will start selling Verizon Wireless products in four markets early next year.

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