Oracle to Buy NetSuite For US$9.3Billion

Oracle is accelerating its push into cloud services with the agreed takeover of NetSuite for USD 9.3 billion cash. 

Oracle said NetSuite pioneered the idea of cloud computing for business applications already in 1998. NetSuite provides a suite of cloud-based financials, ERP and omnichannel commerce software that services more than 30,000 companies and organizations in more than 100 countries.

The two companies' products are complementary, and NetSuite will benefit from Oracle's bigger scale and distribution. Oracle said it plans to invest in both its own and NetSuite's products going forward, including both distribution and development. 

The acquisition was approved by a committee of independent Oracle directors, as Oracle's

Amazon Boss Becomes World’s Third Richest

Jeff Bezos, Amazon boss

Strong earnings from Amazon and a boost to the company's stock have made its founder, Jeff Bezos, the world's third richest person, according to Forbes.

Mr Bezos owns 18% of Amazon's shares, which rose 2% in trading on Thursday. Forbes estimated his fortune to be $65.3bn (£49.5bn).

Amazon’s revenue beat analysts' expectations, climbing 31% from last year to $30.4bn in the second quarter.

Profit for the e-commerce giant was $857m, compared with $92m in 2015.

According to Forbes estimates, Mr Bezos's fortune is only surpassed by Microsoft founder Bill Gates, worth $78bn (£59bn), and the $73.1bn (£55bn) fortune of Zara founder Amancio Ortega.

Amazon had developed a reputation for announcing little or no profit each quarter, but appeared to hit a turning point last year and has seen improving earnings since.

Amazon shares have spiked 50% since February.

Amazon's Prime membership, which offers extra services including free shipping for an annual fee, saw impressive international growth.

In June, Amazon launched Prime in India to take advantage of the country's large consumer

New Browser to Help Manage Personal Data Online

A group of scientists in Britain have developed a hyperdata Web browser that will make it easier for people to access and use online data about themselves.

Called RUMPEL, the browser was developed at WMG, University of Warwick, with funding provided by the Engineering and Physical Sciences Research Council.  

The browser allows users to look at their private and secure “personal data wardrobe” - called a Hub-of-all-Things or HAT — which organises data about them on the Internet, and control, combine or share it as they wish.

RUMPEL will run on all major operating systems and is due to be released this month.

There are plans to incorporate automated and personalised suggestions, and prompts and reminders based on users' needs, habits and lifestyles.

Professor Irene Ng of WMG, University of Warwick, who has led RUMPEL's development, was quoted as saying: “It’s time for people to claim their data from the Internet. The aim of RUMPEL is to empower users and enable them to be served by the ocean of data about them that's stored in all kinds of places online, so that it benefits them and not just the businesses and organisations that harvest it.

“The strapline 'Your Data, Your Way' reflects our determination to let people lead smarter lives by bringing their digital lives back under their own control.”

RUMPEL will be released under an open source licence, the Mozilla Public Licence, managed by the HAT Community Foundation and available via the RUMPEL repository on GitHub.

Microsoft to Reduce Global Workforce

Microsoft will cut an additional 2850 jobs on top of the 1850 announced in May. The newest round of cuts brings the total job losses at the software giant to more than 12,000, largely as a result of the company’s Nokia fiasco.

In its annual report filing to the US Securities and Exchange Commission, as reported by itwire.com, it revealed it had eliminated 7400 positions in the 2015-16 financial year, primarily from its phone business and that a further 4700 would go before the end of FY 2016-17. Most of those affected have already been advised.

The report says that of its 114,000 employees, 38000 were in operations, including manufacturing, distribution, product support, and consulting services; 37000 in product research and development (14% of revenue is spent here); 29000 in sales and marketing (17% of revenue); and 10000 in general and administration (5% of revenue).

Under the heading “Risk Factors” it warned: “We face intense competition across all markets for our products and services, which may lead to lower revenue or operating margins. Our competitors

T. Y. Danjuma Named ntel’s New Chairman

NatCom Development & Investment Limited, trading as ntel, has announced a key addition to its board and the emergence of elder statesman, accomplished businessman and respected philanthropist, General T.Y. Danjuma as Chairman.

In a statement made available by the telco to digitaltimesng.com, with the latest development, Dr. Tunde Ayeni, becomes Vice Chairman, while other members of the board include Captain Idahosa Okunbo, Abiola Ayeni, Kasheem Shettima, Philip Chukwu, Kola Adesina, John Darlington, Dan Kunle, Babatunde Omotoba and Kamar Abass.

A respected environmentalist and philanthropist, General Danjuma, fondly known as ‘the green general’ on account of his environmental activism, has interests in oil and gas, banking and shipping.

He was Chairman of Abuja Green Society and through his own Danjuma Foundation, established in 2009, passionately supports poverty alleviation, education and medical aid initiatives across Nigeria.

General Danjuma brings to the ntel board robust commercial experience covering some three decades in the public and private sectors, following a successful career in the army from where he retired

FG Reiterates Support For Innovation Hubs

Nigeria’s Minister of Communications, Barrister Abdul-Raheem Adebayo Shittu has disclosed the readiness of the Federal Government to do everything possible for the provision of effective support for innovation Hubs across the length and breadth of Nigeria.

Towarsd this end, the Federal Ministry of Communications will establish and provide support for existing innovation Hubs across the country as part of the priority projects identified in its ICT Sector Roadmap.

In a statement made available to digitaltimesnigeria by the Minister’s Special Assistant on Media, Victor Oluwadamilare, the Minister said “If equitably established across the country, the innovation Hubs will provide unique opportunities for start-ups and SMEs to acquire important ICT skills, build key networks and access necessary funding.”

The Minister said in a keynote address delivered at the public presentation of the Delta State Innovation Hub in Asaba on Monday that, “We, at the Federal Ministry of Communications, are keen to support you in this process. Our policies are geared towards using Information and Communications Technologies (ICTs) as a catalyst for innovation in every sector of

Verizon Buys Yahoo! For US$4.83B

Eight years after Microsoft made an offer of US$44 billion to buy Yahoo!, the company that once was synonymous with Internet search has been sold to Verizon for US$4.83 billion.

The sale was announced on Monday US time and is expected to be completed in the first quarter of 2017.

The sale does not include Yahoo!'s cash, its shares in Alibaba, its shares in Yahoo! Japan, its convertible notes, certain minority investments, and Yahoo's non-core patents (called the Excalibur portfolio), according to retorts by itwire.com.

These assets will continue to be held by Yahoo!, which will change its name at closing and become a registered, publicly traded investment company.

Verizon chairman and chief executive Lowell McAdam said: "Just over a year ago we acquired AOL to enhance our strategy of providing a cross-screen connection for consumers, creators and advertisers."

He said the acquisition of Yahoo! would make Verizon a top global mobile media company, and increase its digital advertising revenue.

Yahoo! will be integrated with AOL under Marni Walden, executive vice-president and

Smile Excites Subscribers With Lowest Call Rate

Nigeria’s ever exciting telecommunications sector received further boost on Wednesday in Lagos, when Smile Communications Ltd launched the lowest call rate in Nigeria, using the very latest 4G LTE technology.

Subscribers to the telecommunications company can now make voice calls at 8kobo per second to any network in the country. In addition, they can also make and receive calls at the same rate from any country in the world.

Smile had made the first ever Voice over LTE (VoLTE) call in Nigeria during the beta testing of its voice service in October 2015. Since then, it has introduced SmileVoice to its customers who can use SmileVoice from a VoLTE-enabled handset with Smile SIM card or downloaded SmileVoice App on their Android or Apple iPhone device.

Speaking at the launch of the service in Lagos, the new managing director of Smile Communications Nigeria, Mr. Godfrey Efeurhobo said the SmileVoice App is a world-first, free mobile App that gives all Smile customers access to super-clear voice calls over 4G LTE network, without the need for a Voice over LTE handset.

“Having the SmileVoice app on your mobile is like having a second SIM card in your phone. Our customers can use their data plan to make SuperClear voice, video calls and send SMSs to any number locally and internationally. There is no need for the recipient to also have SmileVoice. With SmileVoice, thousands of Nigerians are enjoying seamless, SuperClear voice calls to their loved ones to and from anywhere in the world,” he said.

Efeurhobo noted that on the Smile network now, subscribers can make calls to any