Samsung has bought a 10-percent stake in Pantech, a South Korean mobile phone maker known primarily for its huge, feature-packed handsets, Yonhap News reports
The deal is valued at around 53 billion won ($47.6 million). With this move, Samsung will become Pantech’s third-largest stake holder, following chip maker Qualcomm, which owns 11.96% of Pantech, and Korea’s Development Bank, which owns a 11.81% of the company
Domestically, Pantech is the third-largest mobile phone maker, behind Samsung and LG. In the U.S., it’s producing branded mobile phones for Verizon and AT&T. Still, the company is struggling with debt, which is exactly how Qualcomm became the company’s largest stakeholder — by converting $75 million of royalty debt into equity Read more…
More about Acquisition, Samsung, Business, Mobile, and Pantech
Source Mashable: http://feedproxy.google.com/~r/Mashable/~3/CON-L085FtY/
Now in its fourth year, tech conference Echelon will gather 52 of the Asia Pacific’s most promising startups from June 4 to 5 in Singapore. The event will also feature more than 50 speakers and judges, including 500 Startups’ Dave McClure and Sahil Lavingia, who raised $8.1 million for his startup Gumroad when he was just 20 years old, and was an early employee at Pinterest.
Source TechCrunch: http://feedproxy.google.com/~r/Techcrunch/~3/ASSsclHBoSU/
Data requests without a warrant. Government refusing to notify journalists they?re being spied on. Equating journalists and reporting to spies and espionage. Potential ?conspiracy to commit espionage? charges. “Virtually every move made by the Justice Department against WikiLeaks has now also been deployed on mainstream US journalists,” writes Trevor Timm at Freedom of the Press […]