Tag Archives: Maker

Rockwell to take $1 billion stake in software maker PTC
June 11, 2018 6:06 pm|Comments (0)

(Reuters) – Factory automation equipment maker Rockwell Automation said on Monday it would buy an 8.4 percent stake in PTC for $ 1 billion as it looks to build on its software capabilities to make smarter manufacturing processes for customers.

Rockwell — which makes electronic motor starters, relays and timers for industries — has been strengthening its capabilities in the so-called Internet of Things (IoT), or technology that allows different devices and systems to communicate with each other over the internet.

Shares of PTC, which offers computer-aided design (CAD) programs as well as lifecycle management software for manufacturers, rose as much as 10.2 percent to a record $ 95.88.

“We do view this agreement as a strategic positive for PTC as it will help open the doors into thousands of companies that traditionally have not used PTC for its core CAD capabilities,” JP Morgan analyst Sterling Auty wrote in a note.

As part of the deal, Rockwell will acquire 10.6 million newly issued PTC shares for $ 94.50 per share, to become its third-biggest shareholder.

The per-share price represents a premium of 8.6 percent to software maker PTC’s close on Friday.

Leveraging Rockwell’s domain expertise with PTC’s technology will help companies to capitalize on the promise of industrial IoT, PTC Chief Executive Officer Jim Heppelmann said.

Rockwell Automation’s chairman and Chief Executive Officer Blake Moret will join PTC’s board after the deal closes, which is expected within the next two months, according to a joint statement.

Morgan Stanley & Co LLC was the financial adviser to PTC, while Goldman Sachs & Co LLC advised Rockwell.

Goodwin Procter LLP was PTC’s legal adviser to PTC, while Foley & Lardner LLP advised Rockwell.

Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta

Tech

Posted in: Cloud Computing|Tags: , , , , ,
Chip gear maker Applied Materials posts strong results, forecast
November 17, 2017 12:00 am|Comments (0)

(Reuters) – Applied Materials Inc reported better-than-expected quarterly results and gave a strong current-quarter forecast as the world’s largest supplier of tools to make semiconductors enjoys strong demand in its chip and display businesses.

The company’s shares were up about 1 percent in trading after the bell on Thursday, reversing course from a drop of nearly 2 percent immediately after the results were released.

Applied Materials has now topped analysts estimates in each quarter of the latest fiscal year, helping its shares surge about 79 percent this year, making them the fourth best performer on the Philadelphia semiconductor index.

Applied Materials, whose results are seen as a barometer for the semiconductor industry, has been benefiting from higher demand for 3D NAND memory chips from smartphone makers and the shift to organic light-emitting diode technology for displays.

Worldwide shipments of PCs, tablets and smartphones are expected to exceed 2.35 billion units in 2018, an increase of 2.0 percent from 2017, according to a report published by research firm Gartner in October. (gtnr.it/2AUZwTp)

While Applied Materials has benefited from surging sales of smartphones, it is also set to cash in on the rise of new technologies such as AI, big data, machine learning, augmented reality and autonomous driving.

“The semiconductor business has clear tailwinds around next generation areas such as AI and other parts of the tech food chain,” Daniel Ives, analyst at GBH Insights said.

The Santa Clara, California-based company forecast current-quarter adjusted earnings per share of 94 cents to $ 1.02 and net sales of $ 4.00 billion to $ 4.20 billion.

The forecasts were comfortably above analysts’ average estimate of a profit of 91 cents and revenue of $ 3.96 billion, according to Thomson Reuters I/B/E/S.

The company said its net income rose 61 percent to $ 982 million in the fourth quarter. Excluding items, it earned 93 cents per share, 2 cents above analysts’ estimates.

Total net sales rose 20.4 percent to $ 3.97 billion. Analysts were expecting $ 3.94 billion.

Sales from its display business, which caters to television, PC and smartphone makers, rose nearly 50 percent to $ 677 million and handily beat analysts estimates of $ 452 million.

“There is huge demand for new display technology, while … average screen sizes for both TVs and mobile devices are growing considerably,” Chief Executive Gary Dickerson said on a post-earnings call.

Revenue from its semiconductor business, the company’s largest, rose 14.3 percent to $ 2.43 billion, topping analysts’ estimate of $ 2.13 billion.

Reporting by Laharee Chatterjee in Bengaluru; Editing by Savio D’Souza

Our Standards:The Thomson Reuters Trust Principles.

Tech

Posted in: Cloud Computing|Tags: , , , , , , , ,
How Apple’s New iPhone Benefits LG’s Camera Module Maker
November 13, 2016 5:30 pm|Comments (0)

One of the major draws to Apple’s latest smartphones is the dual cameras on the iPhone 7 Plus, which LG Innotek is the exclusive module supplier.


RSS-3

Posted in: Web Hosting News|Tags: , , , , , ,