UK Cybersecurity firm Sophos goes private in biggest takeover of the year
UK cybersecurity firm Sophos has been taken private by private equity firm Thoma Bravo, in a deal worth $3.8 billion. The sale becomes the year's largest takeover in the UK. Sophos' CEO, Kris Hagerman said that Thoma Bravo's "experience with software and cyber security" makes for a “compelling fit”. Hagerman said the company is likely to continue with a similar strategy under their new ownership.
Huawei's revenue rises 24.4% despite U.S. sanctions
Huawei's revenue rose 24.4% in the first three quarters of 2019 to $86 billion, despite being blacklisted by the US. The company stated that the impact of the sanctions were less than originally feared, but could still sting its smartphone division for around $10 billion. Huawei is currently the world's largest manufacturing of telecom network equipment and the second largest smartphone maker.
Hyundai unveils a $35 billion self-driving investment plan
Hyundai will invest $35 billion in mobility and emerging auto technologies by 2025. The motoring giant has also received government backing to further bolster its bid to become a competitive force in the market. “The self-driving market is a golden market to revitalise the economy and create new jobs,” South Korea's President Moon Jae-in said in a speech at Hyundai Motor’s research centre.
Uber lays off 350 from Eats, marketing and self-driving
Uber just laid off 350 members of staff. The third and final phase of Uber's layoffs has seen employees from performance marketing, self-driving, Eats, Advanced Technologies Group, and recruiting affected. Teams were told of the "difficult but necessary changes" in an email by CEO Dara Khosrowshahi. In Q2 2019, Uber lost more than $5 billion — its biggest quarterly revenue loss to date.
Apple's 500-acre data centre site is up for sale in Ireland
Apple's 500-acre data centre site near Athernry is up for sale. The "ready-to-go data centre development site" was originally intended for Apple's €850m data centre, but is now being sold by property agents in the US and Ireland following major delays and supreme court rulings last year. The price of the site has not been disclosed, nor that it's owned by Apple.
SEC takes emergency action over Telegram's planned $1.7 billion ICO
The SEC has filed a temporary block on Telegram's planned $1.7 billion Initial coin offering (ICO), to prevent "flooding the U.S. with digital tokens" that the SEC alleges were "unlawfully sold", said Stephanie Avakian, co-director of the SEC’s enforcement division. Telegram has until the end of October to launch its blockchain network - allowing anyone to buy the "gram" currency.
UK government RPA drive faces renewed PR challenge
The UK government's Department of Work and Pensions (DWP) - managing a £95bn annual welfare budget - has accelerated its intelligent automation drive with 1,000 new hires and a budget increase to £8m annually. UiPath is central to the drive for substantial process efficiency at the enormous bureaucracy, but social media is afire after press claims that robots will soon be making all the decisions.
Softbank in talks to take control of WeWork
Softbank is putting together a bid to take control of WeWork's parent company, We Co., amid a major cash crash. The attempt to save WeWork comes just weeks before its imminent collapse, according to The Wall Street Journal. Softbank isn't the only option for WeWork - WSJ also reported that there’s a plan to raise billions of debt through a process being managed by JPMorgan Chase & Co.
Equinix and GIC kick-start $1bn data centre JV
Equinix and GIC have officially started a $1 billion JV to develop and operate xScale data centres in Europe. xScale data centres will serve the unique core workload deployment needs of a targeted group of hyperscale companies, including the world's largest cloud service providers. The initial six facilities in the JV will be located in the Amsterdam, London (two), Frankfurt (two) and Paris.
Issue 9
This month's lead interview is with one of the world's leading data scientists, Anthony Scriffignano, in which he discusses his role as Dun & Bradstreet's Chief Data Scientist, Big Data and the importance of AI. There are also deep dives on u-blox, Smooch and more.
Sponsored by
Google's fight against EU antitrust fine just got a major boost
Google has received backing from phone makers Gigaset and HMD Global Oy as it prepares to fight its record fine from the European Commission. The two phone makers can assist Google in its bid to overturn a 4.34 billion euro fine and an order to drop anti-competitive business practices aimed at blocking rivals in internet browsing, according to Reuters. Court proceedings are to begin next year.
Dyson pulls the plug on EV dreams
Dyson has cancelled its plans to launch an electric car. Founder James Dyson sent an email to employees praising their efforts in creating a "fantastic" car, but said that the £2.5 billion project is not “commercially viable”. Dyson will close its operations in the UK and Singapore, but will likely absorb the 500 plus EV staff into its home division. Dyson's EV was due to launch next year.
SAP CEO Bill McDermott steps down with immediate effect
SAP has today announced that its CEO, Bill McDermott has decided not to renew his contract, and is leaving with immediate effect. McDermott served as Chief Executive Officer for 9 years. SAP Executive Board members Jennifer Morgan and Christian Klein have been appointed co-CEOs. The reason for McDermott's departure is unclear. He will remain with the company as an advisor for the next two months.

VMware acquires Carbon Black for $2.1 billion
Cloud computing heavy hitter VMware has acquired Carbon Black, a leader in cloud-native endpoint protection, in an all-cash transaction. Following the acquisition, VMware is launching a new Security Business unit with Carbon Black CEO, Patrick Morley serving as General Manager. “Carbon Black brings us an industry-leading security platform” said Sanjay Poonen, COO, VMware.
Automotive leaders form autonomous driving consortium
A group of leading automotive and technology industry companies have joined forces to help accelerate the delivery of safer and affordable autonomous vehicles at scale. They include including Arm, Bosch, Continental, DENSO, General Motors, NVIDIA, NXP Semiconductors and Toyota. It will start its work by developing a set of recommendations of a system architecture.
Waymo to go "completely driverless" sooner than you think
In an email sent to members of Waymo's early rider program, the autonomous vehicle giant revealed that its users could expect their next trip to be "completely driverless". The program is being tested in the state of Phoenix, in a geofenced area covering several suburbs. Waymo - formerly the Google self-driving project - has been testing its technology since 2009, and began open testing in 2016.
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