Finance News from the Tech Industry
February 2016 saw some action in the M&A world. The biggest deal saw HNA Group of China pay $6 billion for Ingram Micro. Two other billion dollar deals included Cisco paying $1.4 billion for IoT company, Jasper Technologies and a consortium of Chinese internet firms making a $1.2 billion bid for Opera. Microsoft was busy with a couple of acquisitions, Xamarin a cross platform mobile application development company, and Swiftkey which produces predictive keyboard technology. Another busy company was Alibaba Group which was investing in a bunch of companies, including a $100 million investment in Groupon, and smaller investments in microblogging site Weibo; software company Momo; augmented reality startup Magic Leap; Chinese retail chain Suning; and Singapore telco SingPost. Other companies of note out buying included IBM who bought digital agency Aperto and Blackberry acquired cybersecurity company Encription.
In other news, Apple is in a battle with the US government about privacy concerns after being ordered to develop a back door into its operating system. It was also interesting to see the projected growth in the mobile space with 5.5 billion users expected by 2020.
There wasn’t much good news on the economic front as both Canada and the US had a bit of a slow month. Canada lost about 5,700 jobs and the unemployment rate jumped a little to 7.2%. Various US indicators were down but everything is relative and general consensus is that things overall are still positive for the US economy.