In a significant development, Russia’s top lender Sberbank said, it is developing an entirely domestic cloud infrastructure following Western sanctions which have caused issues with its foreign cloud partner. Western countries have imposed sanctions on Russian banks. Sberbank has started developing technology… Read More ›
On Tuesday, Zoomo, a startup that designs and sells commercial grade e-bikes for online deliveries said, it had raised an additional $20 million in its latest funding round to fund its European expansion and grow its software and engineering teams…. Read More ›
With German automaker Volkswagen missing its electric vehicles sales target in China in 2021, the carmaker’s works council chief Daniela Cavallo has called on the company to get a deeper understanding of the Chinese car market in order to increase… Read More ›
In a statement McAfee Corp said, a consortium led by U.S. private equity firm Advent International has decided to take it private in a $14 billion deal. The development comes at a time when the coronavirus-induced COVID-19 pandemic had led to… Read More ›
In a statement U.S. Commerce Secretary Gina Raimondo said, if necessary the Biden Administration will take further action against China’s Huawei. Washington continues to see the Chinese tech company as a national security threat on a variety of grounds and… Read More ›
In a significant development that marks the impact of U.S. trade embargoes on embattled erstwhile Chinese telecommunications giant Huawei Technologies, the company reported its biggest ever drop in revenues during the first half of 2021. On Friday, Huawei reported revenues… Read More ›
On Thursday, Procore Technologies Inc, a construction software startup said, it has priced its U.S. initial public offering (IPO) at $67 per share, higher than the range it had announced earlier this month. California-based Procore Technologies is offering around 9.5… Read More ›
According to a source familiar with the matter at hand, private equity investor Thoma Bravo has hired an investment bank to raise funds for an initial public offering for a special purpose acquisition company (SPAC). The development marks one of… Read More ›
On Monday, Luminar Technologies Inc, an autonomous vehicle startup stated, it has decided to go public by merging with blank-check firm Gores Metropoulos Inc in a deal worth around $3.4 billion. The deal includes $400 million of cash from Gores… Read More ›
Microsoft Corp’s co-founder Bill Gates, who made the software giant one of the world’s most valuable technology companies, has stepped down from the board on Friday. He will now focus on philanthropic works related to climate change, global health and… Read More ›
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