The offer was recommended by Funcom’s board and carries a 27% premium to yesterday’s closing price for the Oslo-traded company.
Tencent was a Funcom investor and took a 29% stake last September.
In the Q3 earnings, Tencent reported $4.1B in online gaming revenue.
PayPal, UnioPay International team up in digital payments
PayPal (NASDAQ:PYPL) agrees to support UnionPay International acceptance globally where PayPal is accepted, giving UnionPay cardholders more choice when shopping.
In the future, UPI will explore opportunities to support PayPal’s merchant and consumer ambitions in China.
UnionPay cards can now be added to PayPal wallets in Australia, Philippines, Singapore, South Korea, and Thailand. During 2020, PayPal and UnionPay plan to add more than 30 markets.
The two companies have also committed to collaborating to better serve joint customers and merchants to grow digital payments in China and globally.
TTM Tech divests four plants for $550M
TTM Technologies (NASDAQ:TTMI) will divest its four China manufacturing plants to a Chinese consortium of investors for $550M in cash.
The sale price doesn’t include certain accounts receivable for the business unit as of the closing date, which the company expects to result in $110M in cash receivable to TTM.
The plants comprise substantially all of the company’s Mobility business unit.
Microsoft raised as bull sees Q4 strength
Raymond James maintains a Strong Buy rating on Microsoft (NASDAQ:MSFT) and raises the target from $163 to $192.
Analyst Micheal Turits cites checks suggesting that Microsoft had a strong quarter driven by software upgrades and Azure.
Turits: “Our Microsoft checks were strong this quarter with the biggest improvement from resellers that were seeing an uptick in Office 365 E3 to E5 conversions, on increased interest in collaboration and integration of Microsoft Teams and from security including EMS, Azure Active Directory and Azure Sentinel.”
Microsoft will report Q4 results on January 29.
MSFT shares are down 0.4% to $165.82. The company has a Very Bullish average Sell Side rating.
