A couple of high-profile takeovers of videogame companies has stirred optimism that acquisitions will help technology stocks recover. That sentiment may be premature.
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Oracle opened a data centre in South Africa on Wednesday to provide local cloud services across Africa for the first time.
Sony Group shares fell as much as 9.6% after Microsoft announced a $69-billion deal to acquire games publisher Activision Blizzard.
Microsoft’s pitch, as with its other large gaming deals, heavily leveraged gaming chief Phil Spencer’s decades-long industry experience.
Microsoft said on Tuesday it would buy videogame publisher Activision Blizzard in an all-cash transaction valued at $68.7-billion. It’s the biggest-ever acquisition in the IT industry.
Microsoft said it has observed “destructive malware” in systems belonging to several Ukrainian government agencies and organisations.
Microsoft has lured away a veteran semiconductor designer from Apple as it looks to expand its own semiconductor efforts.
In a surprise development, Altron has announced that its CEO, Mteto Nyati, will step down at the end of June.
Investors have enjoyed world-beating returns for years by owning shares of trillion-dollar technology companies.
Big Tech powered US stocks to a third straight winning year in 2021, as giants such as Apple and Microsoft continued to see strong demand.