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Intel Acquires Semi-Conductor Maker, Altera For $17bn

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Intel confirmed its anticipated acquisition of semiconductor company Altera, with a definitive agreement signed for an approximately $16.7 billion all-cash deal.
In a statement, Brian Krzanich, CEO of Intel, said: “Intel’s growth strategy is to expand our core assets into profitable, complimentary market segments. With this acquisition, we will harness the power of Moore’s Law to make the next generation of solutions not just better, but able to do more.”
The deal will couple Intel’s products and manufacturing process with Altera’s field-programmable gate array technology. This is “expected to enable new classes of products that meet customer needs in the data centre and Internet of Things (IoT) market segments”.
Altera will become an Intel business unit in order to “facilitate continuity of existing and new customer sales and support”. Intel also plans to continue support and development for Altera’s ARM-based and power management product lines.
Intel and Altera were reported to have held talks earlier this year, which ended with a dispute over valuation – although the $54 per share mooted then is the same as for today’s deal.
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Observers at this point question Altera’s ability to deliver shareholder value above that available from Intel’s offer.
The deal has been approved by the boards of Intel and Altera, and is subject to certain regulatory and customary closing conditions, including the approval of Altera’s stockholders.
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NITRA Felicitates with Tijani, States Readiness To Collaborate

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As the newly appointed Ministers settle to their jobs, journalists in the Information and Communications Technology (ICT) industry, under the aegis of the Nigeria Information Technology Reporters Association (NITRA), has felicitated with the Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani over his appointment.

In a letter to the Minister, the Chairman of the Association, Mr. Chike Onwuegbuchi noted that the news of his appointment was a cheery one knowing his antecedent to deliver viable results in past endeavours.

“We have followed your steps in the ICT industry and are assured that without doubt, this is another position that you will make a great deal of impact in.

You are not new in creative, developmental and managerial affairs, but have been an active participant in decision-making and growth plans for the nation, hence our repose of trust in what you can do as the Minister of this expanded Ministry,” he enthused.

In the Association’s letter to the Minister, Mr. Onwuegbuchi further assured the Minister that NITRA is willing to work with the Ministry to ensure the achievement of set goals. He said NITRA is on standby for any collaboration that will guarantee the success of Dr. Tijani’s endeavours as the Minister of Communications, Innovation and Digital Economy .

“We hope to work together to develop the industry and make the Ministry a reference point in the minds of Nigerians both at home and abroad,” he concluded.

The expectation is that the Minister will maintain the upward trajectory of ICTs contributions to the GDP.   His focus should be on leveraging ICT to transform Nigeria into a full digital economy.

Nigeria’s ICT sector contributed a significant 17.47% to Nigeria’s GDP (Real Gross Domestic Product) in the first quarter of 2023. This is according to the latest statistics released by the National Bureau of Statistics (NBS).

According to the NBS report, this amounts to about N3.1 trillion of the total N17.75 trillion of the country’s real GDP in the quarter. This is a notable increase in the ICT sector’s GDP contribution, surpassing the figures for the first quarter of 2022 which stood at N2.86 trillion.

The sector contributed 13.23% to the total nominal GDP in Q1 2023, surpassing the rates recorded in both the same quarter of the previous year (10.55%) and the preceding quarter (10.42%). This nominal growth represents a substantial increase of 41.84% during the quarter, marking a 21.30% point rise compared to the corresponding period of 2022.

The Nigeria Information Technology Reporters Association (NITRA) is the umbrella body for ICT reporters and editors. Its membership is drawn across Print, Broadcast and Online media organisations, and spreads across the country. With its Quarterly and Annual events, which include ‘Breakfast With CEOs’; ‘NITRA Innovative Forum’; ‘NITRA Technology Forum’, among others, the Association has been able to drive conversations on the development of the ICT subsectors and the industry as a whole.

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Computing and Internet

Zinox mourns as Founding Member, Tech billionaire & Whiz kid David Kan, Passes on

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L-R: Chairman and Founder, Zinox, Leo Stan Ekeh (left) with former CEO of Elf Oil, now Total Plc, Pierre Lanversin (middle) and the deceased Mr. David Kan, founder and Chairman of Mustek Plc., all founding Directors of Zinox when the brand was launched in 2001.

The management of Zinox Technologies Ltd., Nigeria’s foremost tech giant, has reacted with sadness to the news of the passing of David Kan, a founding member of its Board of Directors and CEO of Mustek Plc, a leading integrated technology group listed on the Johannesburg and Taiwan Stock Exchange.

David Kan, 62, died on Thursday, May 19, 2022.

Originally from Taiwan, the late David Kan settled in South Africa. He was a founding member of the Board of Directors of Zinox at the launch of the tech brand in 2001 alongside Pierre Lanversin, a former Managing Director of Elf (Nigeria). He was also a very close associate of the Chairman, Zinox Group, Leo Stan Ekeh, who expressed shock at his passing.

‘‘It is with a great sense of sadness and loss that I received news of the death of Mr. David Kan. He was a gentleman, a tech whiz kid, very knowledgeable and blessed with a good business brain.

‘‘David’s Mustek taught South Africa local content and was the main technology backbone during the apartheid regime when major tech companies terminated business relationships with South Africa as he comfortably filled the gap. He will be greatly missed,’’ Ekeh added.

David Kan’s death was announced by Mustek on Thursday, with the company revealing that further details of his demise will be made available at a later stage.

“It is with profound sadness that Mustek Plc confirms that David Kan, our much loved and respected co-founder and CEO since the group’s inception in 1987, has passed away. We extend our most heartfelt condolences and sympathy to David’s family. Our thoughts are with them at this most difficult time,” a statement from Mustek read.

Kan founded Mustek in 1987 and was the major shareholder of Mustek at the time of his death and had, over the years, guided the company to growth. Kan claimed that he knew nothing about computers or how to operate a business because he had never been in charge, but that his move came at the right time.

He was a highly respected icon and legendary figure in the IT industry in South Africa and beyond.

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Computing and Internet

Tecnotree Partners MTN Nigeria On Education and Gaming Platform

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MTN Nigeria and Tecnotree, a Finnish based global provider of digital transformation solutions for have launched a digital services multi-experience platform called Tecnotree Moments.

 The multi-experience partner ecosystem offering aims to create lifestyle bundles of content, applications and connectivity through a pre-integrated digital partner ecosystem for global and local high-demand and hyper growth sectors.

The platform will attract leading partners across different sectors such as education, entertainment, gaming, sports, health and wellness, to enter Nigeria and using direct customer billing to convert ecosystem partners into instant revenue generators across enterprise and consumer segments.

MTN’s acting chief digital officer, Aisha Mumuni said, “MTN is constantly seeking partnerships to build platforms that provide superior service to our customers. We have always been deliberate about giving our customers the very best in digital content.

“This partnership is a reinforcement of that commitment. The platform will provide enormous quality content that cuts across education and entertainment for our customers,” said.

This collaboration between ‘Tecnotree Moments’ and MTN Nigeria is path-breaking for realising the full human potential of Nigerians across the country and creating an inclusive society that is key to promoting national development. Moments contains the complete Nigerian JSSCE, SSSCE and IGCSE syllabus in the form of interactive and immersive content and live classes.

Also, to remain relevant in the rapidly evolving digital economy, the MTN-Moments partnership will look at providing Massive Online Open Curriculum (MOOC) for career development and progression facilitating the acquisition of soft and technical skills just in time, not just in case. 

Considering the local skills and talent pool in the country, the platform will be launched first in Nigeria, with further plans to launch these services across other MTN OpCos in Africa and extend these services to Health Care, Fintech Sports and much more. 

‘Tecnotree Moments’ is a gateway of digital services and lifestyle bundling products, being launched with e-sports content such as PUBG Mobile Daily, FIFA Daily, Rocket League Daily, Fortnite Monthly and Fantasy Football. Its offerings also include Africa’s top-played games, with fresh games being updated regularly.

With dynamic brands including GamersHub Media Events (GHME), Smartlink, Hurix, MTutor and more the platform is uniquely positioned to cater for the convergence in education and gaming content around the globe that fosters social and emotional learning, imperative for personalized and adaptive experiences.

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