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Samsung SDI Sells Polarizing Film Business to Wuxi Hengxin for $836 Million

The company announced on Tuesday that the polarising film business of South Koreas Samsung SDI will be sold to Chinas Wuxi Hengxin Optoelectronic Mate

The company announced on Tuesday that the polarising film business of South Koreas Samsung SDI will be sold to Chinas Wuxi Hengxin Optoelectronic Materials for a price of 1.12 trillion won $836.47 million. The polarising film businesses of Samsung SDI in Cheongju and Suwon, South Korea, as well as its Wuxi, China branch, are included in the purchase. With further investment, Samsung SDI hopes to increase competitiveness and forge synergies with its core battery operations by strengthening its semiconductor, OLED, and battery materials businesses. This strategic decision enables the company to focus on these areas. Read More..

B2B Tech News | 11 months ago        

Oracle Surpasses Earnings Estimates with 21% Cloud Revenue Surge, Shares Jump 9%

Driven by higher demand for cloud services, Oracle beat quarterly profit projections and predicted strongerthanexpected revenue growth for the second

Driven by higher demand for cloud services, Oracle beat quarterly profit projections and predicted strongerthanexpected revenue growth for the second quarter. The news caused shares to rise by more than 9%. Oracles cloud computing business, particularly Oracle Cloud Infrastructure, is gaining ground and getting closer to market leaders Amazon Web Services and Microsoft. Surpassing analysts estimates, the corporation announced a 21% increase in cloud services revenue, hitting $5.6 billion and overall revenue of $13.31 billion. Additionally, Oracle disclosed new alliances with Google Cloud and AWS to improve its database offerings. Oracle anticipates a sales increase in Q2 of 8% to 10%, above the projected 8.72%. Read More..

B2B Tech News | 11 months ago        

Russian Foreign Minister Lavrov and Saudi Crown Prince Salman Discuss IsraelPalestine Conflict and OPEC+ Cooperation

Meetings with Crown Prince Mohammed bin Salman took place during the visit of Russian Foreign Minister Sergei Lavrov to Saudi Arabia. Various subjects

Meetings with Crown Prince Mohammed bin Salman took place during the visit of Russian Foreign Minister Sergei Lavrov to Saudi Arabia. Various subjects were discussed, such as energy cooperation and the IsraelPalestine conflict. Regarding the role that OPEC+ plays in preserving the stability of the world oil market, both sides commended continued cooperation within the framework. To balance supply and demand in the energy industry, they pointed out that recent choices highlight the frameworks increasing independence and efficacy. The talks highlighted the value of this international coordinating framework and the pleasure both parties have with the present partnerships. Read More..

B2B Tech News | 11 months ago        

Salesforce to Acquire Own Company for $1.9 Billion, Strengthening Data Security and Privacy Offerings

The provider of data management and protection solutions, Own Company, will be acquired by Salesforce for a cash price of $1.9 billion. With growing w

The provider of data management and protection solutions, Own Company, will be acquired by Salesforce for a cash price of $1.9 billion. With growing worries over data loss from system malfunctions, human mistakes, and cyberattacks, this action attempts to strengthen Salesforces data security and privacy services. Without impacting Salesforces capital return plan or fiscal year 2025 estimate, the purchase, projected to finalise in Q4 of fiscal 2025, is expected to improve free cash flow starting in the second year. Own Company has formed relationships with Microsoft Dynamics 365 and ServiceNow and has previously garnered over $500 million from investors, including BlackRock, Salesforce Ventures, and Tiger Global. To improve its AIdriven products, Salesforce also recently decided to buy Tenyx. Read More..

B2B Tech News | 11 months ago        

Panasonic Energy Readies for Mass Production of 4680 EV Batteries at Renovated Wakayama Plant

The upgraded Panasonic Energy facility in Wakayama, Japan, is ready to produce its 4680 electric car batteries in large quantities. Improved EV drivin

The upgraded Panasonic Energy facility in Wakayama, Japan, is ready to produce its 4680 electric car batteries in large quantities. Improved EV driving range and fewer cells required per battery pack are the goals of the new 4680 cells, which have five times the capacity of the smaller 2170 batteries. With production commencing following automobile clients approval, the factory will play a pivotal role in manufacturing these cuttingedge batteries. In addition to housing 400 workers by March 2025, the facility will test manufacturing procedures that might be used in other battery facilities worldwide. Panasonic now produces 2170 and 1860 cylindrical batteries in its additional Japanese plants. Read More..

B2B Tech News | 11 months ago        

Fuji Soft Shares Surge 7% Above KKRs $3.9 Billion Bid, Sparking Speculation of Rushed Sale

As of right now, shares of Fuji Soft are trading 7% higher than the $3.9 billion takeover price made by American buyout group KKR, raising the possibi

As of right now, shares of Fuji Soft are trading 7% higher than the $3.9 billion takeover price made by American buyout group KKR, raising the possibility that the business acted hastily to accept the offer. The offer from KKR, which values Fuji Soft at 8,800 yen per share, came after a significant selloff in stocks worldwide. Bain Capital, however, has stated that if it had known Fuji Soft was interested in selling, it would have offered a more extensive offer. With the approval of the companys board, Bain Capital is now working on a legally binding proposal that would relieve 3D, the largest shareholder of Fuji Soft, of its need to offer shares to KKR. The status quo persists while investors want a better offer. Read More..

B2B Tech News | 11 months ago        

Wardwizard Innovations to Form Joint Venture in Saudi Arabia for Electric Vehicle Assembly and Cell Production

The Saudi Arabian joint venture, Wardwizard Innovations and Mobility, an Indian manufacturer of electric vehicles, said that it had received a letter

The Saudi Arabian joint venture, Wardwizard Innovations and Mobility, an Indian manufacturer of electric vehicles, said that it had received a letter of intent. As part of this endeavour, an assembly facility for electric two, three, and fourwheelers will be established, and there are also plans to produce electric buses in the future. The joint venture will also include an EV cell factory that produces electric car cells. The corporation did not make the joint ventures financial information public. Read More..

B2B Tech News | 11 months ago        

Japans Economy Grows at Slower Pace in Q2 2024, Annualized GDP Expansion Cut to 2.9%

According to updated estimates, Japans economy expanded by 2.9% annually in Q2 2024 instead of 3.1%, the first announced rate. The revised estimate in

According to updated estimates, Japans economy expanded by 2.9% annually in Q2 2024 instead of 3.1%, the first announced rate. The revised estimate indicates a more uncertain economic picture for the years second half, primarily due to lower business and consumer expenditure. The preliminary 0.8% growth rate was reduced to 0.7% quarteroverquarter. Capital spending and private consumption were both revised lower. Though they caution against prospective slowdowns brought on by outside causes, such as potential slowdowns in the US and China, analysts predict a steady economic rebound. A probable rate rise by December challenges the Bank of Japan as it works to normalise its monetary policy while navigating these dynamics. Read More..

B2B Tech News | 11 months ago        



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1.  Global online sales are predicted to reach 22% of all retail sales in 2023.
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2.  Global tablet shipments are expected to hit 142 million by 2025, reports Statista.
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5.  Approximately 8 billion gadgets connect on the internet every day.
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