Sprint CEO Dan Hesse on Tuesday shared strong opinions surrounding AT&T’s recent announcement that it plans to acquire T-Mobile USA from Europe’s Deutsche Telekom. Speaking on Tuesday morning at the CTIA Wireless 2011 convention, Hesse said AT&T’s plans to acquire T-Mobile will hurt customers. He also said that if approved by regulators, the deal would leave two big players — AT&T and Verizon Wireless — in control of 79% of the U.S. wireless market. “I do have concerns that it would stifle innovation and too much power would be in the hands of two,” Hesse said during a roundtable discussion. His comments were met with applause from the audience. Hesse added that Sprint will appeal to Congress in an effort to halt the merger. AT&T Mobility boss Ralph de la Vega defended the deal on Tuesday, saying it would address the spectrum shortage the U.S. is currently facing, and would bring mobile broadband service to more people. Verizon Wireless CEO Daniel Mead, who was in attendance at the roundtable discussion, seemed less concerned with the potential merger. “We’re observing what’s going on,” Mead noted. “We’re not going to get distracted by this.” More →
When the news officially broke that HP had put in a winning bid for Palm, it all seemed so simple. HP, a company that has long had its smartphone ambitions beset by poor hardware and execution, seemed to simply be the only company that was really intent on purchasing the troubled company based in Sunnyvale. But according to a recent SEC filing from Palm, what really took place in weeks leading up to HP’s successful bid was a five company bidding war. Click through to get all the facts straight from the horse’s mouth. More →
According to a report from Reuters, HTC has dropped the idea of acquiring Palm after a close examining the ailing company’s books. Reuters quoted an unnamed source in Taiwan who was involved in the dead deal as saying “there just weren’t enough synergies to take the deal forward.” This means HTC has joined a growing list of companies that have decided against making a bid for Palm including Dell and Huawei. The CEO of Huawei-rival ZTE informed Reuters his company has not made a move. At present it seems Lenovo, which had over $2.4 billion in cash reserves at the end of 2009, is the new front-runner having said to be entertaining the idea of making an offer to the tune of $1.3 billion dollar, or 30% above Palm’s market cap. Shares in Lenovo rose in Asia on the news. More →
Although the timing of the announcement is a bit of a surprise given that RIM’s Wireless Enterprise Symposium kicks off in one month’s time, Mark Ruddock, CEO of popular BlackBerry development firm Viigo, announced Friday afternoon that his firm has been acquired by BlackBerry maker Research In Motion. Viigo, whose self-titled application is easily one of the most popular applications for BlackBerry, started out life as an RSS reader but made big waves in 2008 when it began introducing new features to the application such as the ability to track sports scores, weather, movie times, stock performance, flight information and notifications, podcasts and more. Viigo has historically developed for Windows Mobile, although it is unclear whether or not this will continue in the wake of the acquisition. But if Ruddock’s failure in his note to mention any future plans for Windows Mobile is any sign of things to come, then things aren’t looking so rosy for any platform that isn’t in the best interest of BlackBerry.
It looks like Apple is getting ready to take on Google in the mobile ad space as the latter had recently purchased AdMob for $750 million. Quattro Wireless, a direct competitor of AdMob, will be picked up by Apple for a cool $275 million according to BoomTown. The company has already raised approximately $30 million in venture capital funding since starting in 2006 and has worked with big names like the NFL, CBS and Univision. Quattro Wireless has also had a presence on mobile web and in-app ads on the iPhone and Android as well. It will be very interesting to see how mobile ads change in the future and where Apple plans to go with Quattro. So far, neither Apple or Quattro Wireless have confirmed or commented on the buyout but the rumor says the announcement will come very soon even possibly this morning.
UPDATE: It’s confirmed. Check out the confirmation email after the bounce. More →
Is Microsoft looking to buy RIM? According to the latest buzz on Wall Street, the answer is possibly, but only if RIMs shares hit the $40 mark. With RIMs shares hovering around the $60 mark, Microsoft is rumored to be looking for RIM to tumble further before taking action. Said Canaccord Adams analyst Peter Misek, “RIM is a massive strategic fit for Microsoft. I’m fairly certain they have a standing offer to buy them at $50 [a share].” Granted this does sound a bit far fetched, but considering that the market cap of RIM is approximately $34 billion at $60 a share and would equal $28 billion at $50 per share, the move makes sense. But how would Microsoft afford such an expensive purchase? With cash and stock options, something which Microsoft has $23.6 billion to spare. If you were Balmer & Co., would you pursue the purchase of RIM?