If approved it will be the third biggest tech merger in history, according to business news site CNBC. Red Hat said it was the biggest involving a software company. The deal will see IBM acquire all of the issued and outstanding common shares of Red Hat for $190.00 per share in cash, more than $70 above the $116.68 at which Red Hat was trading on close of business Friday. "The acquisition of Red Hat is a game-changer. It changes everything about the cloud market," said Ginni Rometty, IBM's chairman, president and CEO. "IBM will become the world's number one hybrid cloud provider, offering companies the only open cloud solution that will unlock the full value of the cloud for their businesses." Cloud computing refers to the delivery of computing services, including storage and software, over the internet to achieve economies of scale. Hybrid cloud relates to the linking of public and private cloud platforms. IBM's Rometty added that most companies are currently being held back in their … [Read more...] about IBM buys software company Red Hat for $34bn in bid for cloud dominance
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BUSINESS NEWS IN BRIEF 16/8
Vietnam firms join Tamil Nadu food expo in India Seven Vietnamese enterprises are showcasing their products at Vibrant Tamil Nadu - Global Expo & Summit 2018 in the Indian state of Tamil Nadu, which runs from August 12-15. The food and beverage expo also features nearly 200 Indian firms and representatives from 29 other nations. Several workshops on food, processed food and beverages and measures to boost the sector’s development have been held at the event, along with meetings between participating firms and state authorities. The Vietnamese enterprises discussed the possibility of signing some memoranda of understanding on cooperation in food production and processing and on investment in industrial zones with Indian partners. Bui Trung Thuong, Chief of the Vietnam Trade Office in India, briefed Indian partners on Vietnam-India economic and trade ties, the prospects of the Vietnamese food sector and opportunities for the two countries’ businesses. India ranks 27th … [Read more...] about BUSINESS NEWS IN BRIEF 16/8
Sci-tech News 6/8
CMC Telecom awarded world’s first MEF 3.0 certification Dang Tung Son, CMC Telecom’s deputy chief executive officer. CMC Telecom on Sunday announced it has become the first service provider in the world to achieve Metro Ethernet Forum (MEF) 3.0 certification. The certification represents CMC Telecom’s ability to deliver standards-based local, national and global Ethernet services that are seamless, with the same interoperability and performance features no matter the location. The world’s three first certified MEF 3.0 service providers included CMC Telecom, Ciena and H3C. Dang Tung Son, CMC Telecom’s deputy chief executive officer said MEF 3.0 certification demonstrated the company’s continuing commitment to offer today’s most advanced, high-performance and secure Ethernet services across its global footprint. “This achievement validates CMC’s ability to provide the highest level of performance and assurance available in … [Read more...] about Sci-tech News 6/8
BUSINESS NEWS IN BRIEF 2/8
Can Tho invites investors to investment promotion conferenceThe Mekong Delta city of Can Tho will hold an investment promotion conference on August 10, inviting investors for 54 projects worth nearly 124 trillion VND (5.44 billion USD). At a press conference on the conference on August 1, Chairman of the municipal People’s Committee Vo Thanh Thong said investors have already expressed interest in 44 out of the 54 projects on offer, and some are ready to start work immediately on 22 projects. He added that some projects attracted two or more investors, so the city will set criteria to select the best among them. Among the 54 projects, 21 are in real estate, 9 in culture-sports and tourism, 9 in agricultural and industrial infrastructure, 8 in transport, 4 in logistics and power, 2 in cultural-sport and health care infrastructure and 1 in information technology. Prime Minister Nguyen Xuan Phuc is expected to deliver a keynote speech and chair the conference, … [Read more...] about BUSINESS NEWS IN BRIEF 2/8
Car crash victim Degenkolb back in business on Tour
Viet Nam News Cycling ROUBAIX — John Degenkolb won the Arras-Roubaix ninth stage of the Tour de France on Sunday ahead of Greg Van Avermaet as dozens of falls and multiple withdrawals made for a slapstick spectacle amidst clouds of dust on its famed cobbled sections. The win marks a return to form for the German, a former winner of Paris-Roubaix, who was knocked down by a car in Mallorca two years ago. "I love Roubaix," said Degenkolb, who was one of six riders badly injured when knocked down by a British tourist. Van Avermaet kept hold of the overall leader’s yellow jersey on a day when his team captain Richie Porte withdrew after a fall and the main contenders all finished more or less together. The lead trio broke with 15km to go and quickly agreed to cooperate taking turns at the head of the group to distance the peloton. Degenkolb was always the more likely of the trio to win the stage due to his sprinting skills while the Belgian Van Avermaet was keen to take … [Read more...] about Car crash victim Degenkolb back in business on Tour