JC Penney Co Inc CEO Mike Ullman told Reuters exclusively that the company is planning to dispose and trim some of its top name brands like Joe Fresh clothes and its own jcp menswear in order to focus on brands that generate more sales for the company.
Tags: Acquisition
Former HP unit Avago to acquire disk drive and electronic semiconductors maker LSI for $6.6B
The acquisition by dual location-based chip manufacturer Avago Technologies Ltd of LSI Corp marked the second biggest acquisition in the semiconductor industry for this year, said a Businessweek report.
Germany-based 6Wunderkinder acquires and winds down Moped
Moped, a messaging platform startup, had been acquired by local cloud-based software startup 6Wunderkinder, according to the former's announcement on its website. Financial details of the transaction were not disclosed.
Processor design firm ARM acquires Need for Speed graphics and lighting tech provider Geomerics
Cambridge, England-based ARM's acquisition of graphics and lighting tech for games maker Geomerics was strategic, as the former intends to extend its reach in visual computing.
Sycamore to announce $1.2 billion Jones Group acquisition by next week - sources
According to one of the two sources who were knowledgeable of the process, private-equity firm Sycamore Partners might announce its $1.2 billion acquisition of Jones Group Inc as early as next week.
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A joint announcement today revealed that digital wallet platform Lemon will be merging with Identity theft protection service LifeLock in a $42.6 million transaction, which also resulted to a modified digital wallet service platform.
The National Stock Exchange data revealed Heineken International BV today increased its shareholder interest in India's United Breweries for USD45.8 million or INR2.8 billion.
Dailymotion's acquisition of Jilion was said to be because of the opportunities SublimeVideo's cutting-edge HTML5 video technology platform could provide to the French video-sharing site.
Volvo AB has entered into a definitive agreement to divest its construction-equipment rental business Volvo Rents to Platinum Equity in a SEK7.2 billion or USD1.1 billion debt sale deal.
Sources noted that Nokia Oyj is in danger of finding a new buyer for its mobile handset business if it failed to lift the freeze on its Indian assets to be able to transfer them to Microsoft as part of its acquisition agreement.
A press release from Verizon Communications Inc read that it has acquired content delivery network EdgeCast to be consolidated to its Verizon Digital Media Services at an undisclosed amount.
Dairy products company WhiteWave Foods is set to acquire organic food producer Earthbound Farm from its existing shareholders including founders Drew and Myra Goodman and Kainos Capital for USD600 million.
Switzerland's third largest wealth manager Julius Baer Group Ltd said it has already acquired the Middle Eastern wealth management units of Merrill Lynch located in Lebanon, Bahrain and the United Arab Emirates.
Shares of Israel-based Given Imaging got a boost after news broke that Dublin, Ireland-based Covidien would be buying the firm's outstanding shares at a premium.
