Qualcomm wants to outbid Magna International and buy Veoneer for $37 a share in an all-cash $4.6 billion transaction that would bring a “competitive and open” combined advanced driver assistance systems platform to automakers and tier 1 suppliers “at scale,” said Qualcomm Thursday. Magna and Veoneer announced a definitive agreement July 22 for Magna to buy Veoneer for $31.25 a share in a $3.8 billion cash deal. Qualcomm “continues to see traction in automotive, with a revenue-design win pipeline of approximately $10 billion,” it said now. Qualcomm’s board unanimously ratified the Veoneer offer, but Qualcomm shareholder approval won’t be required, it said. Veoneer and Magna didn’t respond to queries Thursday.
T-Mobile asked the California Public Utilities Commission to delay a possible status conference on Dish Network’s CDMA complaint at least until after Dish modifies its petition to address the impact of its $5 billion AT&T agreement (see 2107190003). T-Mobile doesn’t think the conference is needed but said it should be held at the earliest the week of Aug. 16, the carrier Monday emailed Administrative Law Judge Karl Bemesderfer through the service list for docket A.18-07-011. Dish replied that it disagreed with T-Mobile’s request except for scheduling the conference for that Aug. 16 week. The companies clashed over the weekend about the AT&T agreement. Dish never told the CPUC the company was in talks with AT&T “or the potential ramifications of the agreement on its migration efforts,” T-Mobile wrote Friday to Commissioner Cliff Rechtschaffen. The timing suggests Dish had “ulterior motives” as it complained about the CDMA shutdown to the CPUC, T-Mobile said. “At a minimum, the timing suggests DISH was focused on negotiating this agreement with AT&T, and thus distracted from executing on CDMA migration efforts over the ten months that have elapsed since T-Mobile first provided DISH with notice of the CDMA sunset. It is also possible that DISH has been purposely dragging its feet in upgrading its Boost CDMA customers so that it can save itself money by finalizing the agreement with AT&T and then transitioning those customers directly to AT&T’s network when it is ready to accept Boost customers, rather than incurring the costs of transitioning them to T-Mobile’s network first.” Dish wrote Saturday to Rechtschaffen that T-Mobile’s arguments lack merit. The AT&T agreement doesn’t alter customer harm that would result from T-Mobile prematurely shutting down the old network, said Dish: AT&T's network doesn’t support CDMA.
Bharti Global plans to exercise its option to invest an additional $500 million in OneWeb, which would give it a 38.7% stake, the satellite operator told the FCC International Bureau Tuesday. The U.K., Softbank and Eutelsat each would have 19.3%, it said.
Silicon Labs completed divesting its Infrastructure & Automotive business to Skyworks in an all-cash transaction for $2.75 billion, it said Monday: The sale lets Silicon Labs focus on “secure, intelligent wireless connectivity" for the global IoT market, it said.
Uber’s announcement it’s buying Transplace for $2.25 billion shows the ride-hailing company is “leaning into Freight” after divesting noncore businesses, Cowen analyst John Blackledge wrote investors Friday. On Thursday, Uber said the purchase from TPG Capital will create “one of the leading logistics technology platforms, with one of the largest and most comprehensive managed transportation and logistics networks.” Uber Freight head Lior Ron said this brings together an “industry-first shipper-to-carrier platform that will transform shippers’ entire supply chains.” Transplace has access to over 30,000 carriers, and is expected to manage about $15 billion worth of freight this year, said Blackledge. Uber Freight would serve more customers at all levels of the freight industry and expand its presence into Mexico, said the company.
Verizon and Tracfone pressed an aide to California Public Utilities Commission President Marybel Batjer for a proposed decision on their combining by Aug. 10, or at latest Sept. 1, in a July 20 videoconference, said a Friday filing in docket A.20-11-001. “A PD issued by early September would allow a decision to be voted on in early October but that further delays in the issuance of a PD creates too many risks for a delayed decision.” FCC OK “could be issued at any time,” it said. The carriers made a similar request to an aide to another CPUC commissioner last month (see 2107020017). Separately, in Dish Network’s complaint about T-Mobile shuttering its CDMA network, CPUC Administrative Law Judge Karl Bemesderfer said he won’t consider scheduling a status conference until the ALJ returns from vacation Aug. 2. Bemesderfer replied Thursday on the A.18-07-011 service list to an email by iCommLaw’s Anita Taff-Rice, Dish outside counsel, asking for a July 26 or 27 conference to talk about next steps including possible evidentiary hearing.
Savant Systems bought Racepoint Energy, said the buyer Tuesday. Terms weren’t disclosed. Savant CEO Bob Madonna founded Racepoint in 2015 when he was Savant chairman and former Barnes & Noble head William Lynch was CEO. Madonna had installed solar panels at home and found the interface “clunky,” he told us. Savant Power is a scalable software platform that manages distributed energy resources such as solar, storage and flexible load management. By adding automated power, which has been renamed Savant Power, the home control company “now addresses every pillar of the connected home" including climate, lighting, entertainment, security and energy, said the company. Savant Power is helping to “transform the grid” with its automation capabilities, boosting the effectiveness of alternative power sources such as solar, batteries or generators “without compromising comfort and convenience,” said Madonna. The two companies have worked closely together, with Racepoint exhibiting in the Savant booth at recent CEDIA Expos; they also collaborated on the Vegas Modern 001 showcase home in Henderson, Nevada, unveiled last week (see 2107140054). “We are seeing an enormous investment in renewable energy, said Madonna, citing events including the Texas grid hack and rolling blackouts in California that are placing energy “top of mind” with consumers. Madonna noted Savant also acquired GE Lighting last year, bringing access to distribution at retail, electrical supply distribution and the CEDIA channel. “All of the pieces fit together to make this timing work now for Savant to acquire Racepoint Energy,” he said, allowing Savant to deliver a comprehensive smart home solution controllable by one app.
Cirrus Logic agreed to buy Lion Semiconductor in an all-cash $335 million deal, said the buyer Thursday. The transaction gives Cirrus access to Lion’s fast-charging power applications portfolio in smartphones and laptops and speeds the growth of the Cirrus high-performance mixed-signal business, it said. The deal is expected to close within 30 days, it said.
Earth imaging satellite operator Planet Labs plans to combine with special purpose acquisition company dMY Technology to become publicly traded with an equity value of roughly $2.8 billion, Planet said Wednesday. It said along with the dMY transaction, investors including a variety of BlackRock funds and Google are investing $200 million in dMY. The combined companies will have the $200 million and $345 million in dMY's trust account to expand into existing and new markets and build more software and machine-learning-enabled data products and services. Planet said the deal is expected to close later this year. It said Planet's current management, including the co-founders, CEO Will Marshall and Chief Strategy Officer Robbie Schingler, will continue to lead the public company.
CBS and Fox affiliates continued to argue that approval of AT&T's spinoff of its U.S. MVPD business should be conditioned on DirecTV providing local-into-local service in all 210 designated market areas (see 2105040055), in conversations with aides to FCC Commissioners Brendan Carr and Nathan Simington, said International Bureau filings (here and here) Tuesday.