Two stories out of Japan caught our attention and, to our thinking, combine to show that Japan’s tech industry is still not yet out of the woods. The first story, by the Japan Times, says that troubled Toshiba’s half-year fiscal results show that their profits have now tripled. The second story, also from the Japan Times, announced that Japan Display will be laying off thousands of employees – almost a third of their workforce.
Financial
Gibson Brands Hires New COO, Hit With Another Credit Downgrade
Gibson Brands announced Tuesday that it has hired Lee Cheng as its new Chief Operating Officer (COO) and executive vice president. This appointment takes effect immediately and follows a recent additional credit downgrade by the Moody’s Investor Service.
See more on Cheng’s interesting background and the Moody’s downgrade… [Read more…] about Gibson Brands Hires New COO, Hit With Another Credit Downgrade
New, Smaller, More Focused Kaleidescape is Back
In a letter to dealers sent Thursday evening, Kaleidescape CEO Cheena Srinivasan says the company is back in business, but in a leaner, lower overhead way. The news, which the industry rumor mill was buzzing about all day Thursday, is a bit of a surprise considering the company was completely shut down just a couple of weeks ago.
See more about the new Kaleidescape… [Read more…] about New, Smaller, More Focused Kaleidescape is Back
Beats Wins; Monster Loses Lawsuit Over Alleged Dirty Dealing
Trial is Now on Defendants’ Efforts to Recover Lawyers Fees
The fat lady hasn’t sung yet, but it’s pretty much all over for Monster LLC and Noel Lee’s lawsuit against Beats Electronics LLC, Andre Young (a/k/a Dr. Dre), Jimmy Iovine, Paul D. Wachter (a Beats director), HTC America Holding, Inc and Does 1-25 (defendants to be named later). LA Superior Court Judge William F. Fahey has dismissed Monster’s lawsuit in its entirety, and has scheduled a trial that is now only on the claims by the defendants against Monster for attorneys fees and other costs.
See more on this stunning defeat for Monster… [Read more…] about Beats Wins; Monster Loses Lawsuit Over Alleged Dirty Dealing
Sharp in Negotiations to Buy Back Building Sold Only Months Ago
New Owner’s Moves Continue to Confound the Japanese Media
News comes out of Japan that the new owners of Sharp are in the process of buying back a building the old management sold off when seeking to improve profitability by reducing overhead. Now, new management – made up of former Foxconn executives – are doing an about-face and looking to repurchase the building, in a move that has Japanese media scratching their heads.
See more on this new course reversal from Sharp’s new managers… [Read more…] about Sharp in Negotiations to Buy Back Building Sold Only Months Ago
Multiple Reports: Kaleidescape is Closed
BREAKING NEWS
We have been inundated with multiple reports that media server kingpin Kaleidescape has ceased operations as of the end of the day yesterday (Friday). Furthermore, all employees both internal and external, have reportedly been let go.
See more on this sudden – and to many – surprising news… [Read more…] about Multiple Reports: Kaleidescape is Closed
LeEco, the Netflix/Apple/Tesla of China, Acquires Vizio
Le Holdings Co. Ltd. (LeEco), a Chinese company with unusual multi-business aspirations, announced this week that they had acquired Vizio, a U.S. manufacturer of affordable televisions, in a deal worth $2 billion. The deal will serve as LeEco’s entry into the U.S. market with its unusual mix of products.
See more on this deal which will bring a whole new line of technology to the U.S… [Read more…] about LeEco, the Netflix/Apple/Tesla of China, Acquires Vizio
Look Out Nortek, Here Come the Lawyers
Acquirer Melrose Offers a Peek at Its Plans
The ink is barely dry on their agreement to be acquired by Britain’s Melrose Industries PLC, and already Nortek Inc. finds themselves the subject of multiple investigations by several major law firms who have publicly notified shareholders this deal may not be a good one for them. It is not clear if these law firms intend to take action yet, but if so, it could be a complicating factor in the transaction.
See who is stepping up to investigate Nortek… [Read more…] about Look Out Nortek, Here Come the Lawyers
AVAD Sold to Private Equity Company
BREAKING NEWS
Industry Veteran Tom Jacoby is AVAD’s New CEO
News comes this 4th of July holiday week that Ingram Micro, itself just recently acquired by a Chinese shipping company, has sold off AVAD, LLC and AVAD Canada Ltd., to Kingswood Capital Management, a private equity company. In an announcement from Kingswood, the company says it has brought in a new upper management team – including a new CEO, industry veteran Tom Jacoby.
See more on the sale of AVAD to private equity… [Read more…] about AVAD Sold to Private Equity Company
Samsung’s Head is in the Clouds; Acquires Joyent
With Samsung’s Backing, Joyent is Poised to Become Major ‘Cloud’ Player
Samsung announced late Wednesday that it has acquired Joyent, a relatively new start-up company that offers cloud computing services, according to a report by Recode. The specifics of the deal were not disclosed, but Joyent management has said it will be joining the Samsung management team.
