Ericsson is to divest its power cable unit to Danish firm NKT Cables in a deal worth 250 million Swedish kronor ($38.4 million). Around 320 employees and consultants will be transferred once the formalities have been completed. (See Ericsson Still Under Margin Pressure.)
The European Commission-imposed reduction in mobile termination rates played its part in a year-on-year €28 million ($36.7 million) fall in first-quarter profits at Belgium's Belgacom.
FeedHenry, the hilariously named mobile app startup based in Waterford, Ireland, has secured $9 million in a funding round led by Intel Capital. Those putting money into the pot included VMware Inc., Kernel Capital and Enterprise Ireland. FeedHenry offers a platform that helps enterprises build mobile apps that integrate securely to their business via the cloud. (See Telefónica Digital Teams With FeedHenry.)
Norway's Telenor Connexion has teamed up with KDDI Corp. to bolster the Japanese operator's M2M (machine-to-machine) offering. Under the terms of the agreement Telenor Connexion will provide KDDI with access to Telenor ASA's roaming network, which spans more than 190 countries, and global SIM capabilities, as well as service provisioning and technical support.
U.K. chip technology firm Imagination saw its shares fall on news that it was predicting a 22 percent drop in licensing revenues for the year as a result of expected delays to various licensing deals, reports the Daily Telegraph.
Fierce competition in the German market was blamed by Telefónica Deutschland GmbH for a 0.7 percent fall in first-quarter operating income (before depreciation and amortization) to €278 million ($363 million).
Danish operator TDC A/S
offered little in the way of surprises in its first-quarter results, with revenue down 6.1 percent year-on-year and EBITDA (earnings before interest, tax, depreciation and amortization) down 2.8 percent. Once again, the finger of blame pointed to the regulatory cuts in interconnect fees, reports Reuters, though the state of the Danish economy didn't help.
A lack of "larger orders" was blamed for a SEK5 million ($768,000) first-quarter operating loss at Net Insight AB, the Swedish video transport technology vendor. (See Net Insight CEO Resigns and EuroProfile: Net Insight.)
Euronews takes a break on Monday due to a U.K. public holiday, but will be back on Tuesday May 7.
— Paul Rainford, Assistant Editor, Europe, Light Reading