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Peerless-AV Partners with Almoe Digital Solutions at Gitex 2016

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Peerless-AV Partners with Almoe Digital Solutions at Gitex 2016

Peerless-AV and Almoe Digital Solutions, distributor of AV and IT products and supplier of customised business technology solutions across the UAE, announce their new partnership-- and the launch of new solutions at the 36th Gitex Technology Week (at the Dubai World Trade Centre from 16th to 20th October).

On the Almoe Digital Solutions stand, Peerless-AV will be exhibiting a range of versatile and installer-friendly video wall mounts and kiosk solutions to GITEX's international audience of more Continue reading...

Apple Moves London HQ to Battersea Power Station

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Apple Moves London HQ to Battersea Power Station

Apple takes over a famed "cathedral of power" as it announces plans to move 1400 staff from 8 locations in London to the restored Battersea power station, making it one of the biggest Apple sites outside of the US.

The iPhone maker will occupy all top 6 office floors in the Grade II listed building, which has stood derilict for 33 years on the bank of the Thames. The actual move to the building should take place in 2021, and makes Apple the biggest single tenant in the 42-acre complex comprising homes, offices, shops and leisure facilities.

“This is a great opportunity to have our entire team working and collaborating in one location while supporting the renovation of a neighborhood rich with history,” an Apple statement to the Evening Standard reads.

Apple's European HQ will remain in Cork, Ireland, where it employs around 6000 people. The company has 2530 staff in the British capital, 1100 of which work in its retail operations. Its biggest London office is in Hanover Street, Mayfair, near the flagship Regent Street store.

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Logitech Buys Saitek

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Logitech Buys Saitek

Logitech acquires more gaming capability with Saitek, the UK-based maker of high-end flight, farm and space simulation game controllers designed for titles such as Elite Dangerous and Star Citizen.

"We’re pleased with this tuck-in acquisition of the Saitek product portfolio," Logitech says. "The Saitek product line complements our market-leading portfolio of Logitech G gaming products, including simulation products like our G29 and G920 Driving Force steering wheels, and expands our leadership position at a very exciting time for gaming.”

The acquisition brings up questions on the health of Saitek's previous owner, Mad Catz, who acquired the controller maker for $30 million back in 2007. Under Mad Catz ownership Saitek produced two of its most popular controllers, the X-52 and X-55.

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A New McAfee is Born: Intel Sells Majority Stake

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A New McAfee is Born: Intel Sells Majority Stake

Intel sells 51% of its security business to private equity firm TPG to create an independent company in a deal worth about $4.2 billion.

While Intel paid $7.6 billion for McAfee in 2010, the $3.4 billion difference belies the fact that the security unit is still financially strong and Intel's minority position should generate cash for some years to come.

Last quarter it generated $537 million, a 10% revenue increase over the same 2015 period, and through the first half of 2016, revenue grew 11% to $1.1 billion.

Intel Security Group says it protects more than 250 million endpoints, counts almost two-thirds of the world's largest 2000 companies as customers, defends more than 200 million consumers and detects more than 400,000 new threats each day. That seems healthier than the PC business...

Private equity firm TPG will take a 51% stake and Intel will keep a 49% share in a security company that will now revert to the McAfee name. "We believe that McAfee will thrive as an independent company," TPG co-founder and co-CEO Jim Coulter says. "With TPG's investment, along with continued support from Intel, McAfee will sharpen its focus and become even more agile in its response to today's rapidly evolving security sector." Continue reading...

Intel Buys Machine Vision Specialist Movidius

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Intel Buys Machine Vision Specialist Movidius

Intel invests in improving the way computers see the world as it acquires Movidius, a machine vision specialist whose technology is found in products from the likes of DJI, Lenovo and Google.

The financial details of the deal are not available.

One might recall Chipzilla already has an interest in machine vision, having developed the RealSense depth-sensing camera system. As such, Movidius technology will surely be integrated with the Intel offering, not to mention other recent Chipzilla acquisitions in the field such as machine-learning startup Nervana systems.

“The ability to track, navigate, map and recognise both scenes and objects using Movidius’ low power and high performance (chips) opens up opportunities in areas where heat, battery life and form factors are key,” Intel says. “Specifically, we will look to deploy the technology across our efforts in augmented, virtual and merged reality, drones, robotics, digital security cameras and beyond.”

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EC Hits Apple With €13 billion Tax Bill!

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EC Hits Apple With €13 billion Tax Bill!

Following a lengthy investigation the European Commission (EC) concludes the Irish government granted "undue tax benefits" to Apple-- leading to a tax bill worth up to €13 billion plus interest.

According to Reuters the sum is 40x bigger than any previous EC demand to a company in a tax-related case. However it can be reduced if other countries do like Ireland and demand more tax from Apple.

Ireland already has a relatively low corporation tax rate of 12.5%, but Apple managed to get a deal from the Irish government of a corporate tax rate of just 1% in 2003. This was lowered even further to 0.005% in 2014. Such selective tax treatment is deemed illegal under EU state rules, and as a result EC demands the Irish government has to recover unpaid taxes for the 2003-2014 period.

The investigation kicked off in 2014 following claims the Irish government broke EU laws with tax rulings agreed with Apple in 1991 and 2007.

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Microsoft and Lenovo Deepen Relationship

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Microsoft and Lenovo Deepen Relationship

Microsoft announces a "deepening of strategic relationships" with Lenovo in a deal having Lenovo preload Microsoft apps on select devices, as well as a "patent cross-licensing agreement."

The Microsoft apps in question are of the productivity variety, such as Office, OneDrive and Skype. They will be found in premium Android-powered Lenovo smartphones and tablets.

“Our collaboration with Microsoft will create new opportunities for our customers to take advantage of some of Microsoft’s most popular apps,” Lenovo says. “Installing Microsoft apps and services on our devices will bring additional value to consumers around the globe.”

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Foxconn Completes Sharp Takeover

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Foxconn Completes Sharp Takeover

Foxconn finalises the $3.5 billion acquisition of struggling Japanese display maker Sharp after months of negotion, not to mention a prolonged review of the deal by Chinese anti-monopoly authorities.

"Sharp hereby announces that all examinations by the competition authorities of the relevant countries have been completed," a statement from the company reads. "Herewith, the conditions precedent to the payment of the New Shares have been satisfied. Therefore, transaction from the Planned Allottees are expected to be made in accordance with our agreement as soon as possible."

Following the acquisition Sharp CEO Kozo Takahashi steps down. Replacing him is Foxconn vice chairman Tai Jeng-wu.

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Incipio Buys Griffin

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Incipio Buys Griffin

Incipio follows the June Skullcandy buy with the acquisition of Griffin Technology, the maker of mobile device accessories, for an undisclosed sum.

"Griffin has a 25-year history of designing, manufacturing and distributing iconic mobile accessories," Incipio says. "As part of Incipio Group, Griffin strengthens our product development and manufacturing capabilities, complements our existing product lines in rugged cases, power and connectivity, and allows our brands to reach a broader domestic and international audience through enhanced distribution in the business-to-business, enterprise and education verticals."

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