3 Tech Titans Making Noise: Apple Buys Embark, Amazon Dabbles in Wireless, and Microsoft CEO Leaving Sooner than Expected
Apple Inc. (NASDAQ:AAPL): Apple has reportedly purchased Embark, a developer of apps that provides public transit information and trip-planning tools for several major U.S. cities including New York, Chicago, and San Francisco. No terms were revealed, though Apple did confirm that the purchase was made. Embark joins HopStop, a transit app developer that Apple also purchased last month.
Amazon.com (NASDAQ:AMZN): Amazon has apparently been conducting tests on a wireless data network that used spectrum controlled by satellite communications company Globalstar (NASDAQ:GSAT), according to Bloomberg sources. It’s another factor that suggests that Amazon is moving away from its retail core business and branching out into communications and hardware.
Microsoft Corp. (NASDAQ:MSFT): Microsoft shares are up over 6 percent on news that CEO Steve Ballmer will be stepping down within 12 months, a slight bump up from his 2017-2018 timeframe. A special committee — including Bill Gates — has been put together to determine a successor; Ballmer will remain in place until one is found. News of Ballmer’s departure has added $24 billion to the software giant’s market cap.
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