Days after Apple rescinded its March quarter sales guidance, supplier Foxconn (OTC:FXCOF) has warned of a hit from the coronavirus outbreak, though it did not elaborate on how big the impact to revenue might be.
Its plants in Vietnam, India and Mexico continue to operate at full capacity with expansion plans under way, though in mainland China manufacturers are grappling with a logistical nightmare.
Many workers companies depend on cannot return to work due to travel and quarantine restrictions.
DOJ backs Oracle in Google copyright battle
The DOJ has thrown its weight behind Oracle (NYSE:ORCL) in a pivotal Supreme Court case against Google (GOOG, GOOGL) that was once referred to as the “copyright case of the decade.”
At issue is the way Google used Java in Android. Oracle argues the tech giant copied 11,500 lines of its code more than 10 years ago, though Google posits it was legal under the fair use doctrine.
The entire case hinges on whether it’s possible to copyright APIs and could have significant consequences as the high court weighs the limits of copyright law in the digital age.
Dialog Semiconductor to acquire Adesto Technologies for $12.55/share
Dialog Semiconductor (OTCPK:DLGNF) will acquire Adesto Technologies (NASDAQ:IOTS) for $12.55/share in cash, or for ~$500M enterprise value.
Adesto accelerates Dialog’s expansion into the growing IIoT market that enables smart buildings and industrial automation, seamlessly driving cloud connectivity.
DLGNF sees transaction EPS accretive within the first calendar year following the close, and expects annual cost synergies of about $20 million within the first year across the combined company.
The transaction is subject to certain regulatory approvals and customary closing conditions, and is expected to close in Q3 ’20.
The Board of Directors of Adesto has unanimously approved the transaction and recommends that Adesto stockholders vote in favor of the transaction.
IOTS shares +57% PM
TSMC, STMicroelectronics team on gallium nitride
TSMC (NYSE:TSM) and STMicroelectronics (NYSE:STM) will collaborate to develop gallium nitride technology.
GaN is a wide bandgap semiconductor material that offers greater energy efficiency at higher power than traditional, silicon-based semiconductors.
The companies say the partnership combines STM’s automotive expertise with TSMC’s foundry strength, which includes GaN process technology.
ST expects to deliver the first samples of power GaN discrete devices to key customers later this year.
