GA Trade Mar-Apr interactive - page 6

Telenav Acquires German
Skobbler to Get Its Hands on
Crowd-Sourced Mapping
Telenav has acquired German
company Skobbler in an effort to
improve its navigation offerings using
the crowd-sourced and open-sourced
OpenStreetMap (OSM) project. The
acquisition closed on Jan. 29 and
Telenav paid about $19 million in
cash and another $4.6 million in
common stock. With the purchase,
Telenav can improve its own products
and become a bigger contributor to
the underlying map technology.
New General Motors Chief
Mary Barra Promises Invest-
ment for Lossmaking Opel
New General Motors chief Mary
Barra is stressing the company's
support for its struggling Adam Opel
AG subsidiary in Europe, saying Opel
workers will get the job of building a
new vehicle at the company's main
plant in Germany. Barra said it was
"no accident" that Opel's headquar-
ters in Rüsselsheim was the destina-
tion for her first foreign trip since
becoming CEO in January.
Carl Zeiss Meditec Acquires
U.S.-based Aaren Scientific
for $70 Million
Germany's medical technology
company Carl Zeiss Meditec AG
announced its acquisition of the
U.S.-based manufacturer of intraocu-
lar lenses, or IOLs, Aaren Scientific
Inc., for $70 million in cash, on a
cash free/debt free basis. According
to the firm, Aaren will be incorpo-
rated into the strategic business unit
Surgical Ophthalmology of Carl
Zeiss, complementing existing IOL
sites in Berlin, Germany and La
Rochelle, France.
U.S.-based Element Materials
Technology Announces Acqui-
sition of German GEVA
Element Materials Technology
announces the acquisition of GEVA
(Gesellschaft für Entwicklung und
Versuch Adlershof mbH), one of
Germany’s leading aerospace testing
companies which has been a
subsidiary of KST Motorenversuch
GmbH & Co. KG. With the purchase,
GEVA’s world-class facility becomes
Element’s first laboratory dedicated
to aerospace testing in Europe,
representing a significant milestone
in the execution of the company’s
strategic growth plan.
DIHK Survey – International
Business on the Upswing
The results of the online survey of
the DIHK, the Association of German
Chambers of Industry and Commerce,
titled “Going International
2013/2014” and conducted among
2,500 companies with business
operations abroad, show that
international business is on the
upswing in 2014. The Transatlantic
Trade and Investment Partnership
(TTIP) is backed significantly within
the German industry. More than 60%
of companies with business activities
abroad consider an agreement
important or even very important.
Especially companies that already
have business relationships with
North America hope for a push –
here, 78% see the agreement as top
priority. At the top of the list of
required steps for an ease in transat-
lantic trade companies place adapt-
ing and/or acknowledging of norms,
standards and certificates in a
reciprocal way – 75%.
German-based Conergy’s
$100 Million Investment
Fund ‘First Step in New
Strategic Setup’
Germany-based solar company
Conergy plans to move into asset
ownership by establishing a tax
equity fund with an initial target
volume of $100 million. The fund
will enable Conergy to expand its
U.S. and Canada project business by
around 50MW. The fund, Conergy
Fund I, will be used to finance the
construction of large-scale power
plants in the U.S. market, which the
company claims “will make resources
available at a time when consistent
funding is difficult to obtain.”
T-Mobile Buys Wireless Air-
waves from U.S. Rival Verizon
Deutsche Telekom subsidiary
T-Mobile has announced a deal to
acquire spectrum licenses from U.S.
mobile operator Verizon Wireless.
The frequencies are not used by
Verizon, but will improve T-Mobile
services in the country.
TÜV Rheinland Acquires
OpenSky Corporation
TÜV Rheinland has acquired
OpenSky Corporation, a provider of
information technology (IT) consult-
ing services. Merging OpenSky into
TÜV Rheinland will allow both
companies to draw on each other's
strengths, combine services and
expertise for the benefit of their
customers and advance their
positions in the IT market. OpenSky
will continue to operate as a separate
business unit, with the executive and
management team staying in place
under the leadership of current
President and CEO, Roger Levasseur.
German American Trade Mar/Apr 2014
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