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Japan state-backed fund INCJ to sell part of stake in Renesas: NHK
April 3, 2018 6:01 am|Comments (0)

TOKYO (Reuters) – A Japanese state-backed fund plans to sell part of its stake in Renesas Electronics Corp, giving the chipmaker more freedom to make acquisitions as it seeks to bolster its global competitiveness, public broadcaster NHK reported.

FILE PHOTO: Renesas Electronics Corp’s logo is seen on its substrate at the company’s conference in Tokyo, Japan, April 11, 2017. REUTERS/Toru Hanai

The fund, Innovation Network Corp of Japan (INCJ), will reduce its stake to around 33 percent from 45.6 percent, NHK said on Tuesday, without citing sources.

INCJ plans to sell the shares through the market, according to the NHK report.

Renesas shares dived 8 percent following the report.

Representatives for INCJ were not immediately available for comment.

INCJ rescued cash-strapped Renesas in 2013 with an investment of 150 billion yen ($ 1.4 billion), and had received 69 percent of the chipmaker, but whittled down its stake as the company regained its footing.

Last month, INCJ agreed to sell a 4.5 percent stake in Renesas to auto parts supplier Denso Corp.

Renesas last year bought U.S. chipmaker Intersil Corp for $ 3.2 billion and its chief executive said it was constantly reviewing its list of potential acquisition targets.

Reporting by Chris Gallagher; Editing by Subhranshu Sahu and Sherry Jacob-Phillips

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Update: Apple said to move part of cloud business from AWS to Google
March 19, 2016 10:20 pm|Comments (0)

Apple has moved some of its iCloud and services data from Amazon Web Services to Google’s cloud platform, in what is seen as a bid by the iPhone maker to diversify its cloud service providers, according to reports.

The move comes even as the company is building its own new data centers, leading to speculation whether the shift is only temporary.

Google is a rival of Apple in smartphones and other devices, but such deals are common among tech companies in areas where they don’t compete. 

After signing the deal with Google late last year, Apple has significantly reduced its reliance on AWS, whose infrastructure it has been using to run parts of iCloud and other services, reported CRN, quoting sources with knowledge of the matter. The publication put Apple’s spending with Google at between $ 400 million and $ 600 million, though it added it wasn’t clear whether the figures referred to an annual spending rate or a set amount of capacity.

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SoftNAS Expands Management Team as Part of Continued Growth Strategy
December 19, 2015 10:25 pm|Comments (0)

Richtberg’s experience ranges from entrepreneurial product strategies in cloud computing and software-defined infrastructure, to the creation of …


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Pulling up the drawbridge: protecting yourself against cyber attacks Part 1
September 20, 2015 11:45 am|Comments (0)

… cyber risks, through to corporate governance and systems accreditation. In the next issue we’ll focus on the specific challenges of cloud computing.


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