Business, Financial & Legal News - Page 276

SANTA CLARA, CA -- (Marketwire) -- 05/09/2011 -- NVIDIA announced today that it has agreed to acquire Icera, a leading innovator of top-performing baseband processors for 3G and 4G cellular phones and tablets.

Icera has more than 550 patents granted or pending worldwide, and its high speed wireless-modem products have been approved by more than 50 carriers across the globe. By combining the companies' products and technologies, including NVIDIA's Tegra processor, NVIDIA will enhance its position as a leading player in the growing mobile market.

The acquisition, for $367 million in cash, has been approved by both companies' boards of directors and is expected to be completed, subject to customary closing conditions, in approximately 30 days. The transaction is expected to be slightly dilutive on an operating basis through the first half of calendar 2012, and accretive on an operating basis in the second half of calendar 2012. This expectation does not take into account significant revenue synergies that the companies anticipate.

By offering the two main processors used in smartphones (the application processor and baseband processor), the combined company will help OEM customers both improve their time to market and deliver the requirements of next-generation mobile computing. NVIDIA will also have approximately doubled its revenue opportunity within each device.

The market for baseband processors is one of the fastest growing segments of the technology industry, worth an estimated $15 billion a year. Icera will be able to leverage NVIDIA's momentum in the smartphone and tablet markets to capitalize on this growth.

CEO Quotes
"This is a key step in NVIDIA's plans to be a major player in the mobile computing revolution," said Jen-Hsun Huang, President and CEO of NVIDIA. "Adding Icera's technology to Tegra gives us an outstanding platform to support the industry's best phones and tablets.

"Icera is a perfect fit for NVIDIA. Our businesses are complementary. Icera has the right team, with a strong, proven track record. And their nimble, entrepreneurial, engineering-focused culture mirrors our own," he continued.

Huang added that NVIDIA intends to continue to collaborate with its existing baseband partners and respect its customers' preferences in combining application and baseband processors.

Stan Boland, President and CEO of Icera, said, "NVIDIA's Tegra processor has the most impressive roadmap in the industry, and it is an ideal match for Icera. As part of NVIDIA, we will be able to reach a broader market. Our team has collaborated closely with NVIDIA for several years on a range of projects, and we're delighted to be joining forces."

Background on Icera
Icera is a pioneer in next-generation, multi-protocol wireless baseband processors with RF components. Its technology scales from 2G to 4G networks, using a custom-built, ultra-low-power processor. Because the baseband is software-based, manufacturers can develop multiple products from a common platform, reduce development costs, accelerate time to market and secure a route to support future baseband standards.

Icera's third-generation Livanto line of chipsets delivers the industry's fastest data rates, cuts user wait times, reduces battery drain and supports multiple standards on the same hardware. And its forthcoming Espresso®450 and Espresso®500 line of platforms provides industry-leading performance for 2G, 3G and 4G networks, low-power optimization for voice and high-speed data, and the industry's smallest form factor. Its portfolio of products will expand significantly in the near future.

Founded in 2002 and based in Bristol, England, the company has approximately 300 employees in seven countries in Europe and Asia, as well as the U.S. It was established by a group of senior executives with strong, shared backgrounds in microprocessor design and cellular communications.

Thursday Conference Call
More details will be provided during NVIDIA's quarterly conference call to be held on Thursday, May 12, 2011 at 2:00 p.m. PT. To listen to the conference call, please dial 706-679-2572; no password is required. The conference call will also be webcast live (in listen-only mode) at the following websites: www.nvidia.com and www.streetevents.com.

A replay of the conference call will be available until May 19, 2011, at (706) 645 9291, conference ID 59360508. The webcast will be recorded and available for replay until the company's conference call to discuss financial results for its second quarter of fiscal year 2012.

About NVIDIA
NVIDIA (NASDAQ: NVDA) awakened the world to the power of computer graphics when it invented the GPU in 1999. Since then, it has consistently set new standards in visual computing with breathtaking, interactive graphics available on devices ranging from tablets and portable media players to notebooks and workstations. NVIDIA's expertise in programmable GPUs has led to breakthroughs in parallel processing which make supercomputing inexpensive and widely accessible. The Company holds more than 1,800 patents worldwide, including ones covering designs and insights that are essential to modern computing. For more information, see www.nvidia.com.

Certain statements in this press release including, but not limited to statements as to: the benefits and impact of the acquisition; NVIDIA's position as a leading player in the growing mobile and tablet markets; addressable markets; future product roadmap; product features and benefits; anticipated revenue synergies; future financial results and the effects of the company's patents on modern computing are forward-looking statements that are subject to risks and uncertainties that could cause results to be materially different than expectations. Important factors that could cause actual results to differ materially include: the failure of the acquisition to close on a timely basis or at all; the failure to successfully integrate the acquired business or retain its key employees; global economic conditions; our reliance on third parties to manufacture, assemble, package and test our products; the impact of technological development and competition; development of new products and technologies or enhancements to our existing product and technologies; market acceptance of our products or our partners products; design, manufacturing or software defects; obtaining sufficient intellectual property rights; changes in consumer preferences or demands; changes in industry standards and interfaces; unexpected loss of performance of our products or technologies when integrated into systems; as well as other factors detailed from time to time in the reports NVIDIA files with the Securities and Exchange Commission, or SEC, including its Form 10-K for the fiscal year ended January 30, 2011. Copies of reports filed with the SEC are posted on the company's website and are available from NVIDIA without charge. These forward-looking statements are not guarantees of future performance and speak only as of the date hereof, and, except as required by law, NVIDIA disclaims any obligation to update these forward-looking statements to reflect future events or circumstances.

© 2011 NVIDIA Corporation. All rights reserved. NVIDIA, the NVIDIA logo and Tegra are trademarks and/or registered trademarks of NVIDIA Corporation in the U.S. and other countries. Other company and product names may be trademarks of the respective companies with which they are associated. Features, pricing, availability, and specifications are subject to change without notice.



For further information, contact: Michael Hara Investor Relations NVIDIA Corporation (408) 486-2511 mhara@nvidia.com Robert Sherbin Corporate Communications NVIDIA Corporation (408) 566-5150 rsherbin@nvidia.com

April 27 2011
YouTube Founders Acquire Delicious

Today, we're pleased to announce that Delicious has been acquired by the founders of YouTube, Chad Hurley and Steve Chen. As creators of the largest online video platform, they have firsthand experience enabling millions of users to share their experiences with the world. They are committed to running and improving Delicious going forward.

Providing a seamless transition for users is incredibly important for both companies. Yahoo! will continue to operate Delicious until approximately July 2011. When the transition period is complete, your information will be moved over to Delicious' new owner.

Starting today, we will ask you to login to Delicious again and agree to let Yahoo! transfer your bookmarks to the new owner. That way, you'll enjoy uninterrupted use of the service and will keep your account and all of your bookmarks when we make the transition. For more information on the Delicious transition, please refer to this FAQ.

Thank you for your patience in this time of transition and thank you for using Delicious!

Dresden, 30.03.2011

May 17 - 19, 2011 in Los Angeles/USA

Booth No. 1019, German Pavilion

Fraunhofer IPMS, Dresden carries out customer specific developments in fields of microelectronic and micro systems technology serving as a business partner that supports the transition of innovative ideas into new products. Fraunhofer IPMS develops and fabricates modern MEMS and OLED devices in its own clean room facilities. In addition to R&D services it offers ramp-up within a pilot production. With modern equipment and about 200 scientists and engineers, the range of projects and expertise covers sensor and actuator systems, microscanner, spatial light modulators, wireless microsystems as well as organic materials and systems.

At SID Display Week 2011 (exhibition) Fraunhofer IPMS presents:
OLED microdisplay based Eyetracking HMD

The Fraunhofer IPMS works on the integration of sensors and microdisplays on CMOS backplane for several years now. For example the researchers have developed a bidirectional microdisplay, which could be used in Head-Mounted Displays (HMD) for gaze triggered augmented-reality (AR) aplications.

The chips contain both an active OLED matrix and therein integrated photodetectors. The combination of both matrixes in one chip is an essential possibility for system integrators to design smaller, lightweight and portable systems with both functionalities.

Rigo Herold, PhD student at Fraunhofer IPMS and participant of the development team, declares: »This unique device enables the design of a new generation of small AR-HMDs with advanced functionality«.

The OLED microdisplay based Eyetracking HMD enables the user on the one hand to overlay the view of the real world with virtual contents, for example to watch videos at jog. And on the other hand the user can select the next video triggered only by his gaze without using his hands.

On the SID 2011 a demonstrator will be presented for the first time, that has the following technical specifications:
Monochrome
Special Eyetracking-Algorithm for HMDs based on bidirectional microdisplays
Front brightness: > 1500 cd/m²

Rigo Herold will present the system at the exhibitor forum at May 17, 2011 4:00 p.m.: »Eyecatcher: The Bi-Directional OLED Microdisplay«.

As charged, these defendants concocted an elaborate criminal fraud scheme, alternately tricking some U.S. banks and effectively bribing others to assure the continued flow of billions in illegal gambling profits. Moreover, as we allege, in their zeal to circumvent the gambling laws, the defendants also engaged in massive money laundering and bank fraud

With more than half of the nearly 300 million Americans who watch TV having a second screen experience, the market is ripe for a social TV product that connects with consumers and networks. SocialGuide is the only product that is built around the existing social TV behavior that is happening with millions of consumers across the most popular social networks. Consumers now have one place to enjoy their favorite programming, and networks have a way to more deeply engage with their audience

New York, NY - SocialGuide, Inc. (www.SocialGuide.com), a New York-based social TV company, has secured $1.5 million in funding led by Alex Zubillaga and angel investors. The investment will be used towards technology developments and expanding key business relationships.

"The social TV space is nascent and is still being defined," said Sean Casey, Founder and CEO of SocialGuide. "This funding will allow us to continue on the path of creating a true social TV platform that goes beyond check-in, to driving tune-in and creating deep social engagement experiences for consumers and networks."

"With more than half of the nearly 300 million Americans who watch TV having a second screen experience, the market is ripe for a social TV product that connects with consumers and networks," said Alex Zubillaga. "SocialGuide is the only product that is built around the existing social TV behavior that is happening with millions of consumers across the most popular social networks. Consumers now have one place to enjoy their favorite programming, and networks have a way to more deeply engage with their audience."

About SocialGuide
SocialGuide (www.SocialGuide.com) is a privately held company based in Brooklyn, NY that is the first real-time social guide for TV and social TV platform that makes every show across every network instantly social. SocialGuide mines, filters, displays and ranks the millions of discussions happening on the most popular social networks about TV as it airs, enabling users to discover new shows and interact with their friends, fellow fans and stars of their favorite shows.

That's the equivalent of taking more than 90,000 cars off the road over the lifetime of the plant, projected to be more than 25 years.

It's important to us that ITA continue with business as usual, providing great service to its business partners. We indicated last July that we would honor ITA's existing contracts. Today we've formally committed to let ITA's customers extend their contracts into 2016. We've also agreed to let both current and new customers license ITA's QPX software on "fair, reasonable and non-discriminatory terms" into 2016-along with related commitments aimed at making ITA's technology available to other travel sites.

Friday, April 8, 2011
Justice Department Requires Google Inc. to Develop and License Travel Software in Order to Proceed with Its Acquisition of ITA Software Inc.
Mandatory Licensing, Research and Development Commitments and Firewall Requirements Will Preserve Competition in Online Airfare Search in the United States

WASHINGTON - The Department of Justice announced today that in order for Google Inc. to proceed with its proposed acquisition of ITA Software Inc., the department will require Google to develop and license travel software, to establish internal firewall procedures and to continue software research and development. The department said that the proposed settlement will protect competition for airfare comparison and booking websites and ensure those websites using ITA's software will be able to power their websites to compete against any airfare website Google may introduce. The department said that the acquisition, as originally proposed, would have substantially lessened competition among providers of comparative flight search websites in the United States, resulting in reduced choice and less innovation for consumers.

The department said that Google will also be required to provide mandatory arbitration under certain circumstances and provide for a formal reporting mechanism for complainants if Google acts in an unfair manner.

The Department of Justice's Antitrust Division filed a civil antitrust lawsuit today in U.S. District Court in Washington, D.C., to block the proposed acquisition. At the same time, the department filed a proposed settlement that, if approved by the court, would resolve the competitive concerns of the lawsuit.

"The Department of Justice's proposed remedy promotes robust competition for airfare websites by ensuring those websites will continue to have access to ITA's pricing and shopping software," said Joseph Wayland, Deputy Assistant Attorney General of the Department of Justice's Antitrust Division. "The proposed settlement assures that airfare comparison and booking websites will be able to compete effectively, providing benefits to consumers."

Under the proposed settlement, Google will be required to continue to license ITA's QPX software to airfare websites on commercially reasonable terms. QPX conducts searches for air travel fares, schedules and availability. Google will also be required to continue to fund research and development of that product at least at similar levels to what ITA has invested in recent years. Google will also be required to further develop and offer ITA's next generation InstaSearch product to travel websites, which will provide near instantaneous results to certain types of flexible airfare search queries. InstaSearch is currently not commercially available, but is in development by ITA.

To prevent abuse of commercially sensitive information, Google will be required to implement firewall restrictions within the company that prevent unauthorized use of competitively sensitive information and data gathered from ITA's customers. The proposed settlement delineates when and for what purpose that data may be used by Google. Google is also prohibited from entering into agreements with airlines that would inappropriately restrict the airlines' right to share seat and booking class information with Google's competitors. Finally, the proposed settlement provides for a formal reporting mechanism for complainants if Google acts in an unfair manner.

Google Inc. is the largest search engine in the United States. Google is a Delaware corporation with its principal place of business in Mountain View, Calif., and with 2009 revenues of more than $23 billion.

ITA Software Inc. is a leading producer of airfare pricing and shopping systems in the United States. ITA is headquartered in Cambridge, Mass.

As required by the Tunney Act, the proposed five-year settlement, along with the department's competitive impact statement, will be published in the Federal Register. Any person may submit written comments concerning the proposed settlement during a 60-day comment period to James J. Tierney, Chief, Networks and Technology Enforcement Section, 450 Fifth Street, N.W., Suite 7100, Washington, D.C. 20530. At the conclusion of the 60-day comment period, the U.S. District Court for the District of Columbia may enter the proposed settlement upon finding that it is in the public interest.

To get [MySpace] back on track is going to require a massive investment - one which News Corporation it not prepared to make. It has many other priorities to put its money into. So instead, it needs to keep taking costs out of the business while it's still in its hands.

I'm not going to break down [the number of] quarters. It's not years ... we need to deal with this with urgency.