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Does B&N Have A Buyer?
March 6, 2014 by admin
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Investment firm G Asset Management said on Friday that it had offered to acquire a 51 percent stake in either Barnes & Noble Inc or in the bookseller’s Nook digital business.
The little known firm said the proposal for Barnes & Noble as a whole would be for $22 per share, which would value the top U.S. bookstore chain at $1.32 billion. It comes after earlier proposal in November for $20 per share, its second.
G Asset, which not did detail how it would finance a deal, also made an alternative offer to buy Nook for $5 per share, saying spinning off the digital books and device business would create “substantial shareholder value.”
The latest offer for the whole company would value Barnes & Noble at $1.32 billion, while the proposal for Nook would value that unit at about $300 million.
The firm has previously pressed the company to spin off its Nook unit from Barnes & Noble’s bookstore and college units.
Michael Glickstein, G Asset’s Chief Investment Officer, and the only person listed on the firm’s website, did not immediately return a request for comment.
Barnes & Noble shares were up 5.8 percent at $17.75 in afternoon trading after going as high as $19.12 after the news was released, suggesting Wall Street analysts were doubtful a deal would get done.
A Barnes & Noble spokeswoman declined to comment beyond confirming that the company had received G Asset’s offer.
The original Nook device was launched in 2009 to help Barnes & Noble fend off Amazon.com Inc and allowed the retailer to win as much as 27 percent of the U.S. e-books market.
But the company lost hundreds of millions of dollars trying to keep pace with deep-pocketed rivals such as Amazon, Apple Inc and Google Inc. It has scaled back its Nook business and focusing more on content and software.
Two years ago, Microsoft Corp invested $300 million in the Nook unit for a 17.6 percent stake, valuing the division at $1.7 billion. In late 2012, Pearson PLC took a 5 percent stake in Nook for $89.5 million.
Dell Goes A4WP
Dell has become the first major PC OEM to join the Alliance for Wireless Power (A4WP) group, joining over 80 existing members Broadcom, Gill Electronics, IDT, Intel, Qualcomm and Samsung.
Dell’s membership means it could soon be developing mobile devices that do not require a wired power adapter to charge.
The A4WP aims to standardise wireless power transfer using near-field magnetic resonance technology called “rezence”, which seeks to liberate mobile devices from wired chargers, charging multiple devices simultaneously without the need to dock the devices.
“Power levels and charging speed will meet the expectations of today’s ‘always on, always connected’ user,” the A4WP said. “Users can simply ‘drop and go’ their devices onto a charging surface without the hassle of accurate positioning or alignment.”
Along with the news that Dell will jump on board to unshackle users from the curse of wired chargers, A4WP is also introducing a secondary, higher-powered project focusing on wirelessly charging electronic products from 20 to 50 watts, like ultrabooks, laptops, and mid-powered appliances.
“Dell’s addition to the Alliance signifies the importance of defining a wireless power standard that spans these higher power levels thus expanding the range of electronics beyond smartphones,” the group added.
A4WP said it believes the development of magnetic resonance technology will improve the customer experience when it comes to charging and will bring the capability into more homes and businesses over the next few years.
It also said that its development of wireless charging technology will help benefit both industry and consumers as the specification powers broadly adopted wireless technologies such as Bluetooth Smart, “which simplifies development and manufacturing”.
Can BB Benefit From The WhatsApp Deal?
March 3, 2014 by admin
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Facebook Inc’s awe-inspiring $19 billion bid for fast-growing mobile-messaging startup WhatsApp sent shares of BlackBerry Ltd surging after the closing bell as early as Wednesday, as investors were cheered by the lofty valuation for the messaging platform.
The deal sent shares in BlackBerry up as much as 9 percent in trading after the bell because it put a rough valuation metric around the smartphone maker’s own BlackBerry Messaging service.
BlackBerry Messaging, or BBM as it is more commonly known, was a pioneering mobile-messaging service, but its user base has failed to keep pace with that of WhatsApp, in part because BlackBerry had long refused to open the service to users on other platforms.
WhatsApp, with a user base of some 450 million, has grown rapidly. Its service works on Apple Inc’s iOS platform, Google Inc’s market-dominating Android operating system, along with devices powered by both the Windows and BlackBerry operating systems.
BBM remains popular, even though BlackBerry devices have waned in popularity. Late last year, the Waterloo, Ontario-based smartphone maker finally opened the messaging platform to users of iPhones and Android devices, and the service currently has over 80 million active users.
However, investors have attributed little value to the asset within the company. On Tuesday, Raymond James analyst Steven Li, in a note to clients, broke out a sum-of-parts valuation of the company and pegged the value of BBM at merely $240 million, or $3 per user.
Facebook’s valuation of WhatsApp translates into roughly $42 per user, and that could lead investors and analysts to rethink their valuation of the asset within BlackBerry.
BlackBerry has given no indication it is keen to sell the asset. While there has been some speculation that BlackBerry may seek to carve out the unit, or even sell it, the company’s new Chief Executive John Chen has so far said that BBM remains a core asset for the company.
SEC Plans Cybersecurity Meeting
February 27, 2014 by admin
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The Securities and Exchange Commission said that its making plans to conduct a roundtable next month to discuss cybersecurity, after massive retailer breaches refocused the attention of the business community and policymakers on the area.
The SEC said that it would hold the event on March 26 to talk about the challenges cyber threats pose for market participants and public companies.
Recent breaches at Target Corp and Neiman Marcus have sparked concern from lawmakers and revived a long-running spat among retailers and banks over who should bear the cost of consumer losses and technology investments to improve security.
Last Thursday, trade groups for the two industries announced they are forming a partnership to work through the disputes.
U.S. lawmakers have also considered weighing in on how consumers should be notified of data theft. But progress on legislation is not guaranteed in a busy election year.
The SEC in 2011 drafted informal staff-level guidance for public companies to use when considering whether to disclose cyber attacks and their impact on a company’s financial condition.
SEC Chair Mary Jo White last year told Congress that her agency was reviewing whether a more robust disclosure process is needed. But she told reporters last fall she felt the guidance appeared to be working well and that she didn’t see an immediate need to create a rule that mandates public reporting on cyber attacks.
Ubuntu Cross-Platform Delayed
Ubuntu will not offer cross-platform apps as soon as it had hoped.
Canonical had raised hopes that its plan for Ubuntu to span PCs and mobile devices would be realised with the upcoming Ubuntu 14.04 release, providing a write-once, run-on-many template similar to that planned by Google for its Chrome OS and Android app convergence.
This is already possible on paper and the infrastructure is in place on smartphone and tablet versions of Ubuntu through its new Unity 8 user interface.
However, Canonical has decided to postpone the rollout of Unity 8 for desktop machines, citing security concerns, and it will now not appear along with the Mir display server this coming autumn.
This will apply only to apps in the Ubuntu store, and in the true spirit of open source, anyone choosing to step outside that ecosystem will be able to test the converged Ubuntu before then.
Ubuntu community manager Jono Bacon told Ars Technica, “We don’t plan on shipping apps in the new converged store on the desktop until Unity 8 and Mir lands.
“The reason is that we use app insulation to (a) run apps securely and (b) not require manual reviews (so we can speed up the time to get apps in the store). With our plan to move to Mir, our app insulation doesn’t currently insulate against X apps sniffing events in other X apps. As such, while Ubuntu SDK apps in click packages will run on today’s Unity 7 desktop, we don’t want to make them readily available to users until we ship Mir and have this final security consideration in place.
“Now, if a core-dev or motu wants to manually review an Ubuntu SDK app and ship it in the normal main/universe archives, the security concern is then taken care of with a manual review, but we are not recommending this workflow due to the strain of manual reviews.”
As well as the aforementioned security issues, there are still concerns that cross-platform apps don’t look quite as good on the desktop as native desktop versions and the intervening six months will be used to polish the user experience.
Getting the holistic experience right is essential for Ubuntu in order to attract OEMs to the converged operating system. Attempts to crowdfund its own Ubuntu handset fell short of its ambitious $20m target, despite raising $10.2 million, the single largest crowdfunding total to date.
Software Glitch Hits Prius
February 25, 2014 by admin
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Toyota is recalling nearly 1.9 million Prius hybrid automobiles globally in order to fix a software glitch that could damage transistors and cause a loss of power.
Some 700,000 of the Priuses are in the U.S., according to a statement. Another 997,000 are in Japan, 130,000 in Europe and the remainder in other places around the world, according to media reports. Toyota didn’t immediately respond to a request for confirmation of those details on.
Toyota plans to tweak software in the Priuses for the motor/generator ECU (engine control unit) and the hybrid control ECU. The current settings “could result in higher thermal stress in certain transistors, potentially causing them to become damaged,” Toyota said. “If this happens, various warning lights will illuminate and the vehicle can enter a failsafe mode. In rare circumstances, the hybrid system might shut down while the vehicle is being driven, resulting in the loss of power and the vehicle coming to a stop.”
Toyota is also recalling about 260,000 2012 RAV4 compact sport utility vehicles, 2012-2013 Tacoma trucks and 2012-2013 Lexus RX 350 SUVs in the U.S., the company said Wednesday.
Toyota will apply an update to skid control ECU software on cars in this recall to fix an “electronic circuit condition” that could cause the vehicles stability control, anti-lock braking systems and traction control function to shut down intermittently, Toyota said. However, in the event of such a failure the standard brakes will still work, according to the company.
No accidents or injuries have been reported in connection with the software problems, Toyota said. The software update will be applied free of charge at local dealers.
Samsung Joins OpenPower
Samsung has joined Google, Mellanox, Nvidia and other tech companies as part of IBM’s OpenPower Consortium. The OpenPower Consortium is working toward giving developers access to an expanded and open set of server technologies to improve data centre hardware using chip designs based on the IBM Power architecture.
Last summer, IBM announced the formation of the consortium, following its decision to license the Power architecture. The OpenPower Foundation, the actual entity behind the consortium, opened up the Power architecture technology, including specs, firmware and software under a license. Firmware is offered as open source. Originally, OpenPower was the brand of a range of System p servers from IBM that utilized the Power5 CPU. Samsung’s products currently utilize both x86 and ARM-based processors.
The intention of the consortium is to develop advanced servers, networking, storage and GPU-acceleration technology for new products. The four priority technical areas for development are system software, application software, open server development platform and hardware architecture. Along with its announcement of Samsung’s membership, the organization said that Gordon MacKean, Google’s engineering director of the platforms group, will now become chairman of the group. Nvidia has said it will use its graphics processors on Power-based hardware, and Tyan will be releasing a Power-based server, the first one outside IBM.
Did Intel Kill Bay Trail?
Intel has decided that some of its budget Bay Trail parts have been out evolved and flung them into a tar pit. According to CPU World the parts first appeared in September. Intel released budget Bay Trail systems on a chip for mobile and desktop markets, under Celeron and Pentium brands.
They were manufactured on 22nm technology, and featured such enhancements as greater number of CPU cores, higher clock speeds, beefed up graphics unit, not to mention an out-of-order microarchitecture, that improved per-clock CPU performance by up to 30 per cent faster compared to their predecessors. With this performance goodness it is a little surprising the Intel has decided that all the all Bay Trail SoCs will be discontinued in a matter of a few months. Details of the planned discontinuation were published this week by Intel in several Product Change Notification documents.
The Desktop Pentium J2850, along with mobile Celeron N2810 and Pentium N3510 are already End of Lifed and its last orders will be in two weeks, on February 11. The chips will ship until April 25, 2014. Also retired are mobile Celeron N2806, N2815, N2820, N2920, and Pentium N3520. Their EOL date is April 11, 2014, and they will ship until May 30, 2014. On August 22, 2014, Intel is going to discontinue Celeron J1750, J1850, N2805 and N2910. The “J” models are desktop processors, and the “N” are mobile ones. There is no word on Z-series Bay Trail-T parts, none appear to be EOL’d at this time.
Furthermore, on the same date Intel will retire Core i7-3940XM Extreme Edition, and boxed and tray versions of Core i7-3840QM and i7-3740QM CPUs. The last shipment date for the Celerons and Core i7s is February 6, 2015.
IBM’s Watson Goes To Africa
IBM has detailed plans to apply its Watson supercomputer the critical development issues facing Africa.
The machine is capable of holding more intelligent conversations than most Big Brother contestants, and in 2011 it beat human contestants on the US TV game show Jeopardy.
However, in Africa it will be used to help solve the pressing problems facing the continent such as agricultural patterns and famine relief.
The initiative, named Project Lucy after the earliest human remains discovered on the continent, will take 10 years and is expected to cost $100m.
“I believe it will spur a whole era of innovation for entrepreneurs here,” IBM CEO Ginni Rometty told delegates at a conference on Wednesday.
“Data… needs to be refined. It will determine undisputed winners and losers across every industry.”
The technology will be used to find ways to enable the developing world to leapfrog over stages of development that have hitherto been too expensive.
One example cited was Nigeria, where two companies have already committed to use Project Lucy to analyse the poorly maintained road system and determine project priorities for repair.
IBM recently announced that it will invest $1bn to spin off Watson into a separate business unit, however this could be quite a gamble as Reuters reported that although Watson has proved to be a quantum leap, it has yet to make any significant money for the company, netting less than $100m in the past three years.
Sony Exits PC Business
Sony will unload its struggling PC business to a Japanese investment firm, the company said Thursday, raising the possibility that the “Vaio” brand could all but disappear from markets outside Japan.
Tokyo-based investment fund Japan Industrial Partners (JIP) will operate the Vaio PC brand under a newly established firm and initially sell PCs in Japan only.
In another reform aimed at bolstering its restructuring efforts, Sony also said it would turn its beleaguered TV business into a subsidiary.
The moves come as Sony said it now expects a net loss of $1.1 billion for the year to the end of March, a reversal of its October profit forecast.
Vaio, which Sony introduced in 1996, looks set to vanish from most markets, at least for short term, as the new company will initially concentrate on selling consumer and corporate PCs in Japan. Whether or not Sony will continue to produce products under the Vaio brand remains to be seen, Sony said.
Although Sony is selling its PC business, it will continue to produce tablet computers, part of its renewed focus on mobile devices including smartphones.
Sony did not put a price on the sale. Sony will take a 5% stake in the new firm, it said.
Sony will stop making and selling PCs after its 2014 Spring lineup launch, but about 250 to 300 Sony staff, including some from a subsidiary that produces TV sets, cameras and computers at factories in Japan, will be hired by the new company, which is to be based at the hub of Sony’s current PC business in Japan’s Nagano Prefecture.
Meanwhile, Sony said it will turn its TV business, which has faced a decade of losses, into a wholly owned subsidiary by July 2014.