Technology Roundup- Google finalizes $2.6B purchase of Looker, Apple reopening some Beijing stores

Published on: February 13, 2020
Author: Amy Liu

Google finalizes $2.6B purchase of Looker

  • Winning clearance from the U.K.’s competition watchdog, Google (GOOG, GOOGL) has completed its $2.6B buyout of Big Data analytics firm Looker Data Sciences.
  • The regulator said the acquisition was unlikely to lead to increased prices or lower quality, as the two are not considered close competitors by companies who use business intelligence tools.
  • Looker was the first major acquisition for Google’s new cloud business CEO Thomas Kurian, and it aims to build upon the success of Google Cloud’s BigQuery, a tool for managing large datasets.

Apple reopening some Beijing stores

  • Apple (NASDAQ:AAPL) will reopen some stores in Beijing with limited hours starting February 14.
  • Last week, Apple extended its store closures in China from February 10 until February 13-15 due to the ongoing coronavirus outbreak.
  • Apple has 42 stores in the region, but the outbreak has also impacted Foxconn and other key suppliers for the tech giant.

Smith Micro acquires operator business from Circle Media Labs

  • Smith Micro Software (NASDAQ:SMSI) has acquired the operator business of Circle Media Labs Inc. The operator business is expected to report 2019 revenue of $4M.
  • Smith Micro acquired certain assets, including customer contracts and a perpetual software license for a purchase price of ~$13.5M in cash.
  • This acquisition expands the Smith Micro portfolio and will enhance the overall capabilities of the SafePath platform.
  • SMSI +3.2% pre-market.

Uber gets date for London license appeal

  • Uber’s (NYSE:UBER) legal battle for its London license will begin on July 6.
  • The four-day hearing is appealing a Transport for London decision to revoke its license for the second time, partly citing safety issues.
  • Last year, an appeal led to a 15-month probationary license.
  • Uber can continue to operate in the city while the appeal is pending.
  • Source: Bloomberg.
  • Uber shares are down 1.6% pre-market to $40.60.

First American Financial to buy Docutech

  • First American Financial (NYSE:FAF) agrees to acquire Docutech, a provider of document, eClose, and fulfillment technology for the mortgage industry, a move that advances FAF’s ability to provide lender customers with end-to-end digital mortgage and settlement services.
  • Terms of the deal weren’t disclosed.
  • The acquisition is expected to add to FAF’s earnings in 2020 and is expected to close in March.