Read the latest mergers and acquisitions news in the technology world compiled by M&A virtual data room provider ansarada.
Technology deals, people, news 25 - 29 May 2015
The chip maker Avago Technologies will acquire Broadcom, a rival whose semiconductors are used in iPhones, set-top boxes for cable television and other devices, for $37 billion in cash and stock, reports the New York Times Dealbook.
Snapchat co-founder and chief Evan Spiegel said he has a plan for an initial public offering and has no desire to field any acquisitions offers, like Facebook’s $3 billion bid for the company nearly two years ago, reports the Wall Street Journal.
Jawbone has sued Fitbit on the eve of its initial public offering, with the fitness tracking device maker alleging its larger rival poached employees who took with them trade secrets costing it “hundreds of millions of dollars”.
Several Internet giants have inquired about buying Flipboard, maker of a newsreader app that has recently signaled it is open to acquisition discussions, reports the WSJ. In recent weeks, Google and Yahoo have both reached out and held early discussions with Flipboard.
Just weeks after closing funding from growth investors at a $3 billion valuation, DocuSign has raised an additional $45 million from the venture arms of Dell and Intel at the same valuation. some of the money is being spent on a Dublin expansion.
Too many leading private technology companies are putting early shareholders and employees at a disadvantage by offering preferential terms to late-stage investors, the chief executive of Sonos has warned, reports the FT.
China drone company DJI is teaming up with Accel Partners, the venture capital firm that invested $75 million in DJI earlier this month, to launch the SkyFund, reports the FT. Airware, a California-based drone start-up, announced the Commercial Drone Fund, a rival investment vehicle.
Facebook Oculus VR bought an eight-month old startup developing virtual technology that allows users to mingle with the real world. The acquisition of Surreal Vision hints at Oculus’ broader ambitions for virtual reality beyond gaming. Terms of the deal were not disclosed.
Vox Media is acquiring Revere Digital, parent company of the technology-news website and conference business Re/code, less than 18 months after the site’s launch, reports the WSJ. Terms of the deal weren't disclosed.
Munchery is the latest food-delivery startup to raise cash from hungry venture capitalists, reports the WSJ. The San Francisco-based service for ordering quick microwavable meals is closing a funding round of $85 million that would value Munchery at about $300 million, according to a person briefed on the deal. Two previous investors in Munchery, SherpaVentures and Menlo Ventures, led the deal.
When it comes to activist investors, Silicon Valley is still developing ways to defend itself, reports the WSJ. Activists like Carl Icahnand Jana Partners have rattled tech giants including Apple, Microsoft and Qualcomm in recent years, urging strategy shifts or financial moves to boost share prices. Their biggest complaints: excessive spending on pet technology projects and unproductive acquisitions.
Jony Ive, the man responsible for many of Apple’s breakthrough designs, is now the company’s chief design officer, reports the WSJ. In the newly created position, Ive will “focus entirely on current design projects, new ideas and future initiatives,” according to a statement by Apple.
Credit Suisse Group has appointed venture capitalist Cameron Lester as its new global head of internet banking, reports the Wall Street Journal. At a time of heightened IPO and deal activity in Silicon Valley, Mr. Lester is returning to banking and to Credit Suisse, where he worked in the late 1990s as a software banker at the peak of the dot-com boom.