Two of the biggest European communication companies are merging, Today, Nokia will officially acquire Alcatel-Lucent in an all-share transaction valued at €15.6 billion. The deal has been approved by the Board of Directors of each company and is expected to close in the first half of 2016, pending approval by Nokia's shareholders, regulatory bodies and other considerations.
It's important to note that Alcatel-Lucent is not connected to the Alcatel phones other than by name, AL manufactures networking equipment similar to Nokia Networks. With their forces combined, the two will tackle the development of 5G tech, the Internet of Things and the increased reliance on cloud services.
In 2014 there were 40,000 R&D employees (20,000 of which from AL) working on a budget of €4.7 billion combined. Both have strong presence in the US, Europe, China and the Asia pacific and work on anything from core networks to cell networks. For last year, the combined sales of the two companies comes out to €25.9 billion with a non-IFRS profit of €2.3 billion.
The company will be called Nokia Corporation and keep the headquarters in Finland (but with a strong presence in France). Current Nokia CEO Rajeev Suri will keep his postion in the new company, Chairman Risto Siilasmaa will keep his post too.
Google continues on its selective shopping spree, having acquired Odysee, a photo and video back-up platform whose apps used to be available for iOS and Android.
Odysee was more than a simple back-up though, it would upload pictures and video files off your mobile device and feed them to your home computer. There were a number of private sharing features as well as an open API for developers to integrate their apps with the service.
Terms of the buy-out have not been announced. The most detail comes from Odysee's main site saying that the team will be joining Google+. What does that mean to how Google seamlessly backs up, and applies "auto-awesome" to our pictures? We do not know yet, exactly.