Also in today's EMEA roundup: Tieto cuts jobs; Vodafone completes Kabel Deutschland acquisition; Nokia board gets its skates on.
Onavo Inc. , the Israel-based startup that has developed mobile data compression technology and analytics tools, has is to be acquired by Facebook for an undisclosed amount, reports Bloomberg, though some reports put the price at up to US$200 million. The acquisition is being presented on Onavo's company blog as forming part of the Internet.org program, which, with the backing of Facebook and other big names in the mobile sphere, aims to improve access to the Internet for the "next 5 billion people."
Declining investment levels in the European telecom sector are being blamed by Finnish systems integrator Tieto Corp. for its decision to cut up to 770 jobs, reports Reuters. The latest job losses follow an earlier round of redundancies, announced in March 2012.
Vodafone Group plc (NYSE: VOD)'s acquisition of Kabel Deutschland GmbH has been completed. Vodafone, which struck a deal worth €7.7 billion (US$10.1 billion), now holds 76.57 percent of the share capital of the German cable operator. (See Euronews: Vodafone Clears Hurdle to Kabel Bid and Euronews: Vodafone Strikes €7.7B Kabel Deal.)
It may face anger on its home turf for its proposed program of job cuts, but for Alcatel-Lucent (NYSE: ALU) it's business as usual in hotter climes: It has finished testing a 100G WDM network for Zain KSA (Zain Saudi Arabia) , and it is still in the throes of a 400G trial for the same operator in the city of Jeddah. (See Euronews: French Fury at AlcaLu Layoffs .)
Read what you will into this and then possibly insert your own joke: Nokia Corp. (NYSE: NOK) has changed the venue of its forthcoming Extraordinary General Meeting, which is taking place on November 19 to approve the proposed sale of its handsets business to Microsoft Corp. (Nasdaq: MSFT), from its Espoo HQ to the Helsinki Ice Hall. Will there be a frosty reception for the top brass? Let's hope there no slip-ups on the day.
— Paul Rainford, Assistant Editor, Europe, Light Reading