A majority of banks globally may not be economically viable because their returns on equity aren’t keeping pace with costs, McKinsey said in its annual review of the industry released Monday. From a report: It urged firms to take steps such as developing technology, farming out operations and bulking up through mergers ahead of a potential economic slowdown. “We believe we’re…
Tag: acquisitions
VMware Buys Carbon Black and Pivotal, Valued Together at $4.8 billion
Software company VMware on Thursday said it’s acquiring Carbon Black at an enterprise value of $2.1 billion and Pivotal at an enterprise value of $2.7 billion. The deals are expected to close by the end of January 2020. From a report: These are VMware’s largest acquisitions yet. The deals build on VMware’s strength helping companies run their software in their own…
Facebook To Add Its Name To Instagram, WhatsApp
According to The Information, Facebook is planning to add its name to both Instagram and WhatsApp. “The social network will rebrand the apps to ‘Instagram from Facebook’ and ‘WhatsApp from Facebook,'” the report says, citing people familiar with the matter. From the report: Employees for the apps were recently notified about the changes, which come as antitrust regulators are examining Facebook’s…
Facebook’s Co-Founder Is Now Lobbying the Government To Break Up The Company
Facebook cofounder Chris Hughes isn’t just idly wondering if regulators might break up the tech behemoth he helped launch. He’s going on a personal tour, meeting with state and federal officials to lay out in detail the way he thinks it could be done. Hughes has met with members of Congress, the Justice Department’s Antitrust Division, the Federal Trade Commission, and…
SUSE Names Melissa Di Donato New CEO
Melissa Di Donato, SAP’s former COO, has been named SUSE’s new CEO. ZDNet reports: London-based Di Donato is a well-known technology leader. In particular, she has a proven track record in sales and business operations. Besides being SAP’s COO, she was also the company’s chief revenue officer. In SAP’s latest quarter, SAP saw an increase of 11% year-over-year revenues. Much of…