RIM and Apple Get Hit with Patent Suit, Initial Bids Are In for Hulu: Investing in Tech
Best Buy (NYSE:BBY) is cutting the price of Research in Motion’s (NASDAQ:RIMM) PlayBooks by $40-$150 in a new sale, a sign that the tablet hasn’t been selling well enough clear shelves of the 500,000 PlayBooks that RIM shipped in May.
Glu Mobile (NASDAQ:GLUU), a publisher of mobile social games for smartphones and tablets, is rumored to be the takeover target of Zynga, the maker of popular games for Facebook, Apple’s (NASDAQ:AAPL) iPhones, and smartphones using Google’s (NASDAQ:GOOG) Android operating system.
Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.
Google (NASDAQ:GOOG) was the nation’s most popular website in July, according to Nielsen, with 172.5 million users. However, Facebook followed at a close second with 158.9 million users, but beat Google in terms of average time spent per person, which was 255% higher than Google’s.
IBM (NYSE:IBM) will acquire Algorithmics for $387 million. Algorithmics provides risk analytics software for financial services, and IBM’s analytics sales were up 25% year-over-year during the first half of 2011. Yesterday, IBM announced the acquisition of security analytics software firm I2.
MobiTV, a provider of TV services for U.S. wireless subscribers, is filing for a $75 million IPO under the ticket MBTV. MobiTV’s revenue grew 22% year-over-year in the first half of 2011 to $38.9 million. Sprint (NYSE:S) accounts for 54% of MobiTV’s revenue, while AT&T (NYSE:T) and T-Mobile also account for a significant share.
According to Business Insider, six companies have made informal bids for streaming-video site Hulu, being sold by its owners Comcast (NASDAQ:CMCSA), News Corp. (NASDAQ:NWSA), Disney (NYSE:DIS), and Providence Equity Partners. According to the report, Google (NASDAQ:GOOG), Amazon (NASDAQ:AMZN), and Yahoo (NASDAQ:YHOO) are the most interested parties, with most bids coming in at $500 million to $2 billion. Apple (NASDAQ:AAPL) and Microsoft (NASDAQ:MSFT) declined to make bids.
ValueClick (NASDAQ:VCLK) completed its acquisition of Dotomi yesterday in a deal the firm says will expand its cross-selling opportunities among media platforms.