Apple started serving iOS 7 on Sept. 18, and shipped the operating system on its fall wave of new products, including the iPhone 5S and iPhone 5C — which went on sale later that month — and the iPad Air and Retina-equipped iPad Mini that reached retail last month.
According to Apple’s iOS developer support site, 74% of the devices tapping the App Store for seven days prior to Dec. 1 ran iOS 7, more than three times the next-most-popular edition, last year’s iOS 6.
Apple’s number closely matched those of third-party firms that have also measured iOS version traffic.
On Tuesday, for instance, mobile advertising company Chitika, of Westborough, Mass., pegged iOS 7 iPhone trafficthrough its network at 74%. iPad owners have upgraded at a slower pace, with 64% of the tablets running iOS 7. Chitika’s tally was generated between Oct. 25 and Nov. 18.
Mixpanel, a San Francisco-based mobile app analytics vendor, has also tracked iOS 7 uptake. As of Friday, the new operating system accounted for79% of the Apple devices accessing Mixpanel clients’ apps or websites. That was up from 61% in late September, and a slight increase from the 76% of one month ago.
iOS 7 uptake has slowed dramatically since first few days and weeks of the upgrade’s availability –Chitika measured iOS 7′s penetration at 52% just a week after release — but it remains above levels set by its predecessor.
“[It is] very likely that iOS 7 will continue to substantially outpace iOS 6 adoption, which reached 83% close to six months following its release in September 2012,” Chitika said on its blog earlier this week.
A rapid uptake tempo is worth more than bragging rights by Apple partisans, as the faster an operating system is adopted, the more willing developers are to take advantage of its features and refresh their apps. That has special significance with iOS 7, since it was the first design overhaul since the OS’s 2007 debut and boasts a radically different look and feel.
iOS 7 can be installed as an upgrade on the iPhone 4, iPhone 4S and iPhone 5; the iPad 2, the third- and fourth-generation iPads with Retina screens, and 2012′s first-generation iPad Mini; and the fifth-generation iPod Touch that debuted, with different storage sizes, in October 2012 and May 2013.
The phablet cannibalization trend is so significant that IDC lowered its long-term tablet forecast. The research firm slightly lowered its previous 2013 forecast from 227.4 million tablet shipments worldwide to 221.3 million.
IDC lowered its 2017 tablet forecast even further, pegging shipments at 386.3 million, down from the previous 407 million units.
In some markets, especially the Asia Pacific region, consumers have already decided to buy a large smartphone rather than a small tablet, IDC analysts said. Tablet purchases in South Korea have declined while larger smartphone purchases have increased. IDC researchers there are forecasting that 2013 tablet shipments will drop below 2012′s figures.
“Korea is a unique case, but it could very well be the precursor to that happening in more countries and regions,” said Tom Mainelli, an IDC analyst.
“People in some countries have limited money to spend, so they tend to go for a large phone because they can call and browse on it and read email, as opposed to getting a small phone and a tablet,” added IDC analyst Jitesh Ubrani. The phablet becomes the “jack of all trades.”
The cannibalization of tablets is less of a concern in the U.S. and Canada where expendable income is more available. In North America, analysts are more worried about market saturation, with tablets bought up in huge numbers going back to 2010. The market is set to turn from high growth to “mostly a replacement market,” Mainelli said.
IDC also found that tablets in emerging countries aren’t as popular as phablets because there is less Wi-Fi at home and less traditional home PC usage. “We think many of those cheap whitebox tablets being used in emerging markets are essentially replacing DVD players, with the content side-loaded onto them from various sources,” Mainelli said. “Also, larger smartphones took off there first.”
In addition to large smartphones’ cutting into tablet sales, Mainelli said IDC believes that wearable devices and other new computing categories will temper tablet growth in coming years. He didn’t estimate by how much, however.
As large phone use rises, Mainelli said it’s possible that the tablet market will shift back to larger tablets in a reversal of the recent trend toward sub-8-in. tablets. “I tend to think that is what will happen in the U.S.,” he said. One example is the new iPad Air, with a 9.7-in. display.
IDC predicts about 220 million tablets with screens that are under 8 inches will ship globally in 2017, with another 145 million tablets shipping that are between 8 inches and 11 inches, and about 20 million with screen sizes of more than 11 inches.
Analyst firm Canalys said in November that phablets larger than 5 inches accounted for 22% of all smartphones shipped in the third quarter.
The phablets, made mainly by Samsung and running the Android operating system, include the 6.3-in. Galaxy Mega and the 5.7-in Galaxy Note 3. Apple’s new iPhone 4S and 4C are still 4-in. devices, but the company launched a smaller tablet, the iPad mini, with a 7.9-in. screen in November 2012.
Canalys recently predicted that tablet shipments will reach 285 million units in 2014, about 15 million higher than IDC’s forecast for 2014 of 270.5 million.
Also in 2014, Canalys said tablets will almost outship all PCs combined, a category including desktops and laptops.
Apple confirmed the acquisition but would not say why it purchased the company, which specializes in analyzing Twitter data and providing insights into current sentiment on a variety of topics.
The Wall Street Journal, which reported the news earlier, cited people familiar with the deal as saying Apple forked over more than $200 million.
“Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans,” spokeswoman Kristin Huguet said.
Topsy did not respond to requests for comment.
The iPad and iPhone maker often does what it calls “bolt-on” acquisitions, small deals to acquire technology that then gets integrated into existing or future products.
Apple’s main effort in social media has revolved around Ping, a music-centered social sharing network that was at one point integrated into its iTunes app. The service, which lets users post music tracks they liked to a newsfeed, didn’t catch on and was shut down.
But the California gadget maker has been increasingly making it easier for people to share photos, videos and news through its devices and directly to social networks such as Facebook and Twitter.
It also operates iTunes Radio, an online streaming music service that competes with Pandora and could benefit from Topsy’s data on consumer sentiment.
AMD has announced that its proprietary Mantle graphics API is attracting more interest as some big names sign up. Rebellion Entertainment has entered the game with its Asura engine and officially adopted Mantle for their upcoming Sniper Elite V3.
It looks like the first title that will be supported by Mantle will be Sniper Elite 3. So far no one is saying what advantage there will be for Asura to run on Mantle, it seems likely that it will give boosts in performance as well as enhanced graphics quality. Chris Kingsley chief technology officer and co-founder of Rebellion Entertainment said in a press release that his studio was pushing technology as far as it could.
“We are excited about the possibilities that Mantle brings to PC gaming and the industry as a whole. We believe that supporting Mantle will enable us to stay on the bleeding edge of PC gaming and ensure that we don’t leave any performance on the table when it comes to offering gamers amazing experiences,” he said.
Mantle, a cross-platform application programming interface for windows designed specifically for graphics processing units based on graphics core next (GCN) architecture, presenting a deeper level of hardware optimisation. Mantle is supposed to bypass bottlenecks in modern PC/API architectures and enables nine times more draw calls per second than DirectX and OpenGL thanks to lower CPU overhead, AMD claims.
Chip Designer Mediatek has unveiled the first octa-core system on chip (SoC) for mobile devices.
The MT6592 is an ARM based processor capable of running all eight cores at up to 2Ghz and offers a scheduling algorithm to ensure that all eight cores are being managed effectively to control power draw and temperature.
The chip uses its Heterogeneous Computing (HC) architecture to act as foreman, distributing tasks to the best processor for the job, covering CPU, GPU, DSP, and multiple connectivity, multimedia, camera and display engines, including navigation, and sensor cores.
The chip is equipped with Mediatek Clearmotion for automatic upscaling of standard 24/30 frames per second video to high-quality 60fps video. Also onboard is support for 802.11n WiFi, Miracast, Bluetooth, GPS and FM tuner functions. It is also capable of running Ultra HD H.264 and new video standards including H.265 and VP9.
Mediatek Smartphone Business Unit general manager Jeffrey Ju enthused, “The MT6592 delivers longer battery life, low-latency response times and the best possible mobile multimedia experience. Being the first to market with this advanced eight-core SOC is testament to the industry-leading position of Mediatek.”
The prospect of octa-core mobile devices could have huge ramifications for the buying public. Although most everyday web surfers will probably not notice the difference, gamers and multimedia users are likely to find that the next generation of gadgets that have octa-core processors offer an experience on a par with their desktop cousins.
The MT6592 is expected to appear in Android 4.4 Kitkat devices in early 2014, though as yet no manufacturers have announced that they will be using it in their products.
Although its new Mantle API was announced back at the Hawaii launch bash, AMD did not share too many details. As far as technology goes, Mantle is more or less straightforward; it’s a thin layer on top of GCN hardware.
The general idea is that Mantle could drastically reduce API overhead in certain scenarios, allowing developers to tap the full potential of GCN-based GPUs. One of the ways it does this is by batching draw calls, grabbing more polygons to render without placing much strain on the CPU.
It also allows developers to streamline games for optimum performance, by queuing and distributing threads on the CPU and GPU, thereby harnessing more computing power from both. This process could be improved upon with a bit of help from HSA, which means upcoming AMD APUs could gain a bit of gaming muscle with no added silicon.
Then there’s parallelism – Mantle can use multiple CPU cores more efficiently than DirectX and OpenGL, reducing CPU workloads. It gets even better with multi-GPU support, as Mantle can basically “see” multiple GCN-based GPUs as a single GPU, improving load balancing and eliminating microstuttering in the process. It’s also interesting from an APU perspective, as it could potentially lead to even greater performance gains for users with AMD APUs and discrete graphics, but we’ll just have to wait and see.
So how much of a performance boost are we looking at? Well AMD claims 20 to 50 percent, which sounds very impressive indeed, if not too optimistic – so we’re probably looking at something closer to 20 percent. However, we’re still months away from seeing Mantle in action, which leads us to AMD’s next problem – adoption. Mantle support is coming to BF4 next month and it should give us an idea of what to expect. DICE says Mantle will be supported by no fewer than 15 Frostbite based games. Apart from DICE, AMD says it has a few other developers lined up.
The trouble is multi-vendor support. Oddly enough Frostbite head honcho Johan Andersson said Mantle is actually not tied to AMD’s GCN architecture and it’s forward compatible. This obviously means AMD’s post-GCN GPUs will support it, but it also means Nvidia could embrace it as well, as DICE claims “most Mantle functionality can be supported on today’s modern GPUs” – unless DICE thinks Nvidia doesn’t make modern GPUs, this more or less means Nvidia GPUs could support Mantle sometime in the future.
According to leaked and published advertisements of the sales, which will begin on the evening of Thursday, Nov. 28, Best Buy, Target and Walmart will all sell brand-name tablets at steep discounts.
Electronics chain Best Buy, for example, will sell Apple’s iPad 2, a tablet introduced in 2011, for $300, or $99 off Apple’s list price. Even though Apple recently launched the 9.7-in. iPad Air, and started selling the upgraded 7.9-in. iPad Mini with a high-resolution display, it kept the iPad 2 in its portfolio, reportedly because schools continue to purchase the model and some businesses have standardized on the tablet for point-of-sales devices.
Best Buy will also discount the 16GB iPad Air by $50, selling it for $449, or 10% less than list.
Both Walmart and Target will sells 2012′s iPad Mini — the one that sports 1,024 x 768 screen resolution — at Apple’s $299 stock price, but will throw in a $100 or $75 gift card, respectively, effectively reducing the price to $199 or $224.
Including the gift cards, the Walmart iPad Mini deal represents a 33% discount, while Target’s comes in at 25% below full retail.
Target will also sell the new 16GB iPad Air for $479, then include a $100 gift card, reducing the overall cost to $379, for a 24% savings.
Best Buy was the only one of the three retailers to also list Microsoft’s Surface, formerly tagged the Surface RT, a 32GB tablet that runs Windows RT, the scaled-down version of the legacy application-supporting Windows 8.1. Best Buy’s $200 sale price for the Surface will be 75% below list.
Although Microsoft continues to sell the Surface on its website and online store, the Redmond, Wash. company refreshed the line last month by introducing the Surface 2, which starts at $449.
Apple and Microsoft will probably run Black Friday sales of their own on Nov. 29; both companies did last year.
AMD has confirmed what we knew all along. Although it might announce the first Kaveri products later this year, the first desktop parts will be available on January 14 2014. Although many were hoping to see the first Kaveri chips by the end of the year, having them just two weeks into 2014 doesn’t really make much of a difference.
So what can we expect from the first batch of Kaveri parts?
One part revealed during the APU 13 presentation was the A10-7850K. It appears to be a 3.7GHz quad-core with 512 Radeon cores (R7-series GPU). The theoretical performance calculated by AMD for this particular part is 856 GFLOPs.
However, the trouble with Kaveri is that we still don’t know the impact of HUMA, HSA and Mantle on actual real world performance. HUMA will let the chip share memory between the GPU and CPU, although GDDR5 support is lacking, shattering the wet dreams of many a fanboy. HSA and Mantle could unlock even more performance.
“Kaveri can perform well above its class because of these technologies,” an AMD spokesman told EE Times.
So far AMD is confirming Mantle support in four upcoming games. Mantle could practically allow AMD APUs to do more with less silicon, boosting their price/performance ratio. Of course, more developers need to embrace Mantle in order to give new AMD APUs a competitive edge.
HP has disclosed that it is working to extend its HP Nonstop fault-tolerant server range to include hardware based on Intel x86 processors, a move that will fuel renewed speculation regarding the future of the Itanium processor family.
However, the firm simultaneously unveiled new HP Integrity Nonstop blade servers based on the Itanium 9500 series, the latest version of the processor line, and reiterated again its commitment to customers still running Itanium based systems such as Nonstop and the mission-critical Integrity line of servers.
Neil Pringle, director of HP Business Critical Systems in EMEA, told The INQUIRER that the firm plans to introduce x86 architecture into the Nonstop line in 2015. He said that HP will offer it in parallel with the present Itanium architecture to offer customers greater choice.
“We are continuing that family of products and announcing that the Intel 9500 chip has now been deployed into the NonStop family, but in addition we are planning to extend the family to adopt in parallel the x86 architecture for a set of our customers. It means they can still choose the world’s most available server, but they will have the choice to use Itanium or x86,” he said.
The move mirrors HP’s adoption of Intel Xeon based server blades into the mission-critical Integrity lineup two years ago, as part of HP’s Project Odyssey. The Integrity systems were also given a boost with the release of new blades based on the Itanium 9500 chip almost exactly a year ago.
However, while the move allowed Windows and Linux workloads to run on Integrity systems, HP has declined to port its HP-UX Unix operating system that forms the heart of Integrity onto the x86 architecture. With Nonstop, however, the operating system and applications will run on x86 chips.
Project Odyssey has taken longer to reach HP’s NonStop systems, which are designed to provide the highest level of availability for customers in the banking, telecommunications and manufacturing sectors. Pringle claimed that one customer has been operating services on Nonstop for over 27 years without a single interruption.
Historically, the product line can be traced back to the Tandem Nonstop line, which was acquired by Compaq and subsequently acquired by HP over a decade ago.
Pringle said that customers will be able to seamlessly operate existing Nonstop OS applications on x86 Nonstop blades without recompilation, although recompiling them will deliver optimum performance.
HP said it is developing its x86 Nonstop hardware on the existing Xeon processors, but hinted that this might not be what it is actually based on when it reaches commercial availability.
“It will depend on Intel’s roadmap,” said Pringle, “but also on our customers. While they are looking for choice, they are also looking for stability, so we would look to choose from the Xeon family which is the right chip at the time.”
When asked if HP is making this move because customers want to migrate away from Itanium, Pringle denied this, reiterating that it was about delivering choice.
“If customers are looking to continue to process environments that they do today, they will probably stay with Itanium. But if we have customers looking to extend their capabilities and re-architect their environment to take them forwards for the next 10 to 15 years, which many large institutions are, we will offer them the choice to operate the world’s most available server on Itanium or x86,” he explained.
However, Itanium processor development has stalled over the past decade, with Intel repeatedly failing to hit delivery dates for successive chips on the roadmap, while the Xeon line has continued to improve in both performance and mission-critical features. It would be surprising if some customers were not pushing HP to offer a migration path off Itanium.
The new Itanium-based Nonstop systems, the HP Integrity Nonstop Bladesystem NB56000c and HP Integrity Nonstop Bladesystem NB56000c-cg are available worldwide today, HP said.
Apple’s once-dominant lead in the ever-expanding tablet market is fading as consumers move to Android tablets, which are cheaper and available in different sizes, according to separate research released by IHS and IDC on Wednesday.
Tablet shipments during the third quarter this year totaled 47.6 million units, growing by 36.7% compared to the same quarter last year, according to IDC. Android tablets drove the growth, while Apple’s iPad shipments were flat and Windows tablets continued to struggle.
Apple maintained the top spot in tablet shipments, totaling 14.1 million iPads during the quarter, growing by just 0.6% compared to the previous year. The company’s tablet market share fell to 29.6% during the third quarter, down from 40.2% a year ago.
The current tablet market share of 29.6% is Apple’s lowest to date, IDC said. Research firm IHS pegged Apple’s third-quarter market share at 29.7%.
Apple’s tablet shipments slowed due to a delay in product launches to the fourth quarter from earlier in the year. But the company is poised to regain market share with the new iPad Air and iPad Mini with Retina display, which will start shipping in November.
“With two 7.9-inch [iPad Mini] models starting at $299 and $399, and two 9.7-inch models starting at $399 and $499, Apple is taking steps to appeal to multiple segments,” said Jitesh Ubrani, IDC research analyst, in a statement.
Samsung was the biggest beneficiary of the growth in Android tablets, holding 20.4% market share during the third quarter, up from 12.4% a year ago. The South Korean company’s tablet shipments totaled 9.7 million units, growing by 123% compared to last year. Asustek was in third place with shipments up 53.9% to 3.5 million. Lenovo was in the fourth spot, with tablet shipments of 2.3 million, growing by a whopping 420.7%. Acer was in fifth place, with quarterly shipments growing by 346.3%.
While Apple is the solo tablet vendor with iOS, the sheer volume and spate of sub-$250 tablets has made Android a leading tablet OS, said Rhoda Alexander, director of tablet research at IHS.
According to a new report from research firm Strategy Analytics, global shipments of mobile SoCs in the second quarter of 2013 were 44 percent higher than in the same period last year.
Qualcomm still dominates the market, with a 53-percent revenue share. Apple ranks second at 15 percent, while MediaTek got the bronze with an 11-percent share. Samsung came in fourth, trailed by Spreadtrum, a fabless Chinese chipmaker that specializes in TD-SCDMA 3G-enabled parts.
So how did it end up so high in the rankings? Well, Spreadtrum is the third biggest player in China, a market traditionally dominated by MediaTek. While Qualcomm and MediaTek started to focus on mid-range parts for the local market, Sptreadtrum decided to churn out cheaper, low-end parts.
“Strategy Analytics estimates that low-cost suppliers MediaTek and Spreadtrum together captured over one-third volume share in the smartphone applications processor market in Q2 2013, thanks to the smartphone boom in emerging markets,” said Sravan Kundojjala, Senior Analyst, Strategy Analytics. “MediaTek and Spreadtrum’s improving global footprint coupled with their maturing product portfolio could spell a threat to global players such as Qualcomm, Broadcom, NVIDIA and Intel.”
Qualcomm still has a virtual monopoly in the LTE market and it is expected to further strengthen its position as Snapdragon 800 parts end up in more designs. However, it is losing share in China.
Although Samsung and Apple rank relatively high, they don’t exactly have a habit of selling their chips to competing handset makers, and even if they did, they don’t exactly make cheap chips, so the China market is practically up for grabs.
MediaTek raised quite a few eyebrows earlier this year when it announced it would build the world’s first proper ARM octa-core, not a big.LITTLE design. The MT6592 has now popped up on a Chinese site, with the first Antutu results.
It scored 25,496, which places it behind the 1.7GHz Snapdragon in the HTC One, but it’s still a lot faster than the Nexus 4’s Qualcomm APQ8064, although throttling may have something to do with that. The score seems too high, but not long after the results emerged, a number of mobile sites started talking about disappointing results, claiming that MediaTek’s octa-core was somehow supposed to end up on a par with Samsung’s latest Exynos 5 big.LITTLE chip and the Qualcomm 800.
This of course is utter rubbish and FUD of the highest order.
The 28nm MT6592 is indeed an octa-core, but it has eight A7 cores, not a combo of A15 and A7 cores. The A7 is about one fifth of the die area of an A15 and according to ARM it consumes one quarter to one fifth of the power, making such comparisons asinine. In other words, MediaTek’s octa-core should end up a lot smaller and cheaper than a quad A15, maybe even a quad A12. That is why we find the 25,496 result hard to believe – it should be less, not more. For example, the Tegra 4 on Shield hits about 36,000, yet it’s a much bigger chip, on a device with more RAM.
The benchmarked chip ran at 1.7GHz, but MediaTek said the MT6592 should have no trouble hitting 2GHz, which could make it faster than a Snapdragon 600. What’s more, the tested device featured 1GB of RAM, 720p display and a Mali-450 GPU, so it is clearly not high-end.
However, the big problem for MediaTek’s curious new SoC is the sheer number of cores. Most apps simply can’t put them to good use and unless MediaTek has a clever trick up its sleeve, the chip might not be nearly as fast in real world applications. It does look promising in benchmarks, though.
Microsoft detailed the improvements at an event it held in San Francisco for Yammer customers that kicks off its Working Social Tour, scheduled to land in up to 200 cities worldwide, including New York City, Amsterdam, Sao Paulo and Tokyo.
“It’s part of our push to connect with Yammer customers,” said Jared Spataro, general manager, Microsoft Office, in an interview. Attendees are expected to be both Yammer customers as well as those who are using Office 365, Microsoft’s cloud email and collaboration suite, which includes online versions of Exchange, Lync, SharePoint and Office.
Microsoft bought Yammer in mid-2012 for $1.2 billion in order to extend the enterprise social networking (ESN) capabilities of its SharePoint collaboration server and of other products in the Office family and beyond. Microsoft is in the process of integrating Yammer’s cloud suite with those products now.
The mobile improvements include a revamped iPad application and tweaks to the Windows 8 and Windows Phone 8 applications. The overhaul of the iPad app is supposed to simplify the user experience, while the Windows apps got improvements to live tiles and a better inbox.
Microsoft also deepened the interoperability between Yammer and email systems, making it possible for people to participate in Yammer group discussions through email messaging and without necessarily having a Yammer account.
Establishing bridges between Yammer and email is important because many customers are still trying to figure out the best way to use the ESN suite with email, according to Spataro.
“They’re looking for a mental model for how to use email and Yammer and how to think about those two worlds coming together because not everyone jumps on Yammer or enterprise social networking at the same time,” he said.
Unlike other vendors, Microsoft doesn’t see ESN suites as a replacement for email communications. “We believe they’re very complementary tools, that they can and should coexist, and that when used together they provide a very good, rounded experience,” Spataro said.
Microsoft has also started to add features to Yammer so that it can be used as a more structured tool for getting things done and managing tasks, not just as a social conversation meeting place, he said.
In addition, it’s now also possible to launch a Yammer conversation from an Office 365 document stored in SharePoint Online by hitting a “Post to Yammer” button. That way people can have discussions about the document on Yammer.
Whether it’s a heartfelt note to a loved one or a thank you letter following a job interview, new apps are attempting to breathe new life into the tradition of hand-written notes with a high-tech twist.
Bond Gifts, a free app for iPhones, lets users write a digital message that is converted into a hand-written note. A robot called Giles at the company’s New York headquarters writes the letter with a fountain pen on embossed stationery.
The notes are sent in the mail, complete with a wax seal, to the recipient.
“It’s a way to marry technology with tradition. When you get the mail there’s never anything good anymore because we’re all communicating digitally,” said Sonny Caberwal, founder and chief executive officer of Bond Gifting, which created the app.
“People might think about writing a note, but very few people actually do it,” he said, adding it is a quick way to provide a personal touch.
The user types the message and provides the recipient’s address, or the app can find the address for the sender. Each hand-written note costs $5.
The app also sells and sends gifts, such as books and candles, with a hand-written note within the United States. It also keeps track of birthdays and special events.
“Remember when you a had a box of printed photos? They had permanence. We want to bring that same feeling back,” said Caberwal.
Felt, an app for the iPad, also sends hand-written notes and lets users select from multiple designs, pen styles and ink colors.
Tomer Alpert, the CEO of the Telluride, Colorado-based company, said he got the idea for the app after driving home from a dinner party. He wanted to send a thank you card but was too tired to stop to find one.
Other apps converted text to computer-generated cursive font, but didn’t use people’s actual hand-writing, according to Alpert.
“There wasn’t a simple option to hand write your card and hand address the envelope, and just let someone else deal with the stamps,” he explained.
With Felt, users write their message on the iPad and it is printed in their own handwriting on the card. The notes, only available in the U.S., cost $3.99.
Bond Gifting’s Caberwal said some of the most interesting messages his company has seen involve the U.S. government shutdown.
“We’re starting to see people write notes to Congress telling people to get back to work,” he said.
The Delaware Supreme Court has overturned a preliminary injunction preventing Activision Blizzard from buying Vivendi’s stake in the company. In September, the Delaware Court of Chancery blocked the sale due to a lawsuit filed against Activision by shareholder Douglas Hayes. Hayes argues that the sale requires the approval of shareholders to proceed. Vivendi filed an emergency appeal against the ruling in late September, attempting to remove the injunction before the October 15 termination date on the agreement.
The Delaware Supreme Court agreed with Activision’s assertion that the sale was a stock repurchase and did not require the approval of minority shareholders.
With the injunction gone, Vivendi and Activision expect the deal to close by October 15. The deal will have ASAC II, an investment group led by Activision Blizzard CEO Bobby Kotick, buying 172 million shares from Vivendi for $2.34 billion and Activision Blizzard buying 429 million shares for $5.83 billion. The two transactions would give Activision control over Vivendi’s 61 percent stake.
Wedbush Securities expects Activision’s stock to outperform once the deal is completed, with a 12-month price target of $22 per share.
“While some investors may have concerns about declines for the company’s core businesses, we remain fans of Activision Blizzard. The company communicates clearly, executes well, and its management appears to truly understand how to make money,” said Wedbush is a recently released note.