Tech Business Wrap: ST-Ericsson Wins With Samsung, Juniper Chatter Continues
A ST-Ericsson (NYSE:STM)(NASDAQ:ERIC) NovaThor baseband/application processor will be used in Samsung’s (SSNLF.PK) new Galaxy S III Mini phone. Just last week, Bloomberg had it that Samsung might be a potential suitor for the mobile chip joint venture which is thought to be mulling a sale.
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Shares of Juniper Networks (NYSE:JNPR) moved up on previously discussed rumor it has recruited JPMorgan to help it find a buyer. Now it is thought that EMC Corporation (NYSE:EMC), which has long been said to be pondering the acquisition of a networking vendor, is identified as a potentially interested party. However, Juniper has a market cap of $9.7 billion which might be a bit much for EMC, given its current market cap of $53.8 billion, and that does not count a premium
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