Shazam, the U.K.-based content tagging specialist, has attracted a US$40 million investment from América Móvil, the Latin American mobile operator owned by famed moneybags Carlos Slim. Shazam, which claims a global user base of around 350 million, says the investment will help it expand further beyond music and TV/video content with its "media engagement" strategy. (See América Móvil Invests in Shazam and App Focus: Premium Shazam Comes to Android.)
Standard & Poor's has lowered Nokia's long-term credit rating by one notch to B+ following the news that the Finnish handset giant is to acquire full control of Nokia Siemens Networks for €1.7 billion ($2.2 billion). The influential ratings agency said that the NSN deal will weaken Nokia's balance sheet, stating that it has lowered its estimate of Nokia's net cash to €1.3 billion ($1.67 billion) or more at the end of 2013 from €3 billion ($3.85 billion) or more previously. (See Nokia to Take Full Control of NSN.)
Telekomunikacja Polska SA, the Polish unit of Orange, plans to replace its chief executive in the fall, reports Reuters, citing Polish daily Puls Biznescu. The operator has seen its profits slump this year in the face of increased competition.
On a more positive note, Orange has also unveiled its smart cities strategy, comprising a five-point development program that looks at private transport, public transport, smart grids, "urban services," and smart buildings. "Smart pants" can only be a matter of time. (See Orange Unveils Smart Cities Strategy.)