The Bulldog Blog, which is nWRALTechWire’s regular roundup of local and international news: Google buys an artificial intelligence startup in the U.K.; the CED kicks off its 30th year this week; Apple is expected to report a boost in earnings; AT&T gives up its rights to bid for Vodafone; tech giants Google and Samsung strike a deal on patents.
- Google buys artificial intelligence startup in UK
LONDON – Google says that it has purchased the British startup DeepMind, an artificial intelligence company founded by a 37-year old former chess prodigy and computer game designer.
The American tech giant’s London office confirmed a deal had been made but refused to offer a purchase price, which is reportedly $500 million. The company was founded by researcher Demis Hassabis together with Shane Legg and Mustafa Suleyman.
Hassabis, who is on leave from University College London, has investigated the mechanisms that underlie human memory.
Artificial intelligence uses computers for tasks normally requiring human intelligence, like speech recognition or language translation. DeepMind says the company, based in London, specializes in algorithms and machine learning.
Google, like other tech giants such as Facebook, are anxious to develop systems that work like the human brain.
- CED’S 30th Anniversary Kickoff
DURHAM, N.C. – The CED will kick off its 30th year of operations with its annual meeting on Thursday, Jan. 30, at Bronto’s recently expanded headquarters in Durham.
CED plans news and updates from the past year and discuss what is planned for 2014. The event also will include a panel discussion about the “State of the Capital Markets:”
- Who is funding innovation?
- What role do corporate VC’s play?
- What does it all mean, for entrepreneurs and their investors?
Speakers include: Mary Dent, Co-founder, dcIQ; Former General Counsel of Silicon Valley Bank; Dan Keoppl, Executive Director, Verizon Ventures; David Zilberman, Venture Partner Comcast Ventures
- Apple Buoyed as Holiday Penny Pinchers Make IPad Exception
SAN FRANCISCO – Apple is poised to record its first profit gain in more than a year after shoppers who shunned clothes and purses during the holidays shelled out for iPads and iPhones.
The world’s most valuable company is projected to report 5 percent sales growth and a 2 percent profit increase today for its fiscal first quarter, typically the period when Apple generates its biggest chunk of revenue.
Chief Executive Officer Tim Cook is under pressure to reverse sliding profits, hurt by the dearth of new product categories since the iPad’s 2010 debut, and to return more cash to shareholders such as activist Carl Icahn. The company likely benefited from the latest versions of the iPhone and iPad, which were released late last year, helping Apple eke out gains during a dismal period for retailers as varied as Best Buy Co. to Victoria’s Secret owner L Brands Inc. That may lead to a profit upswing over the next quarters, according to data compiled by Bloomberg, amid new iPhone sales in China.
“Everyone is looking for signs that the worst is behind Apple,” said Alex Gauna, an analyst at JMP Securities LLC in San Francisco, who has the equivalent of a hold rating on the stock.
- AT&T Gives Up Right to Offer to Buy Vodafone Within 6 Months
NEW YORK – AT&T Inc., responding to speculation over a possible takeover bid for Vodafone Group Plc, said it doesn’t plan to make an offer for the U.K. mobile-phone company. Vodafone shares fell the most in five years.
The statement means AT&T can’t offer to buy Vodafone or a stake of 30 percent or more in the company for the next six months, according to U.K. takeover rules. AT&T made the announcement today at the request of the U.K. takeover panel.
Executives of Dallas-based AT&T were laying the groundwork internally for a potential acquisition of Vodafone this year, people with knowledge of the matter told Bloomberg News in November. While AT&T is now ruling out an immediate offer for Vodafone, with a market value of $177 billion before a sale of its U.S. venture is completed, it could make a bid later on, said Simon Weeden, an analyst at Citigroup Inc. in London.
“The move could indicate that AT&T is either uninterested altogether or merely unprepared to start a process today given time constraints,” Weeden said in a note to clients.
AT&T is looking to Europe for growth as its home market becomes more competitive. T-Mobile US Inc. and Sprint Corp., the fourth- and third-largest players, are cutting prices and offering additional mobile data in an effort to break the dominance of AT&T and Verizon Communications Inc.
- Samsung, Google sign patent agreement
SEOUL, South Korea – Samsung Electronics Co. has signed an agreement with Google Inc. to cross-license their patents, reducing the risk of costly legal disputes over intellectual property and likely fostering greater collaborate between the two tech giants.
Seoul-based Samsung said Monday that the deal covers patents to be filed over the next 10 years as well as existing patents. Financial terms were not disclosed.
Allen Lo, a deputy general counsel at Google, said in a statement that the deal allows the two to reduce the potential for litigation and to focus on innovation.
Samsung said it also paves the way for deeper collaboration on research and development for Samsung and Google. The two already collaborate on smartphones and televisions.
