Tag: acquisition

Ratan Tata Buys Stake in Xiaomi

Recently we heard the Chinese smartphone maker, Xiaomi, claiming that it wants to be an Indian company. Today, according to an official post by Xiaomi, Ratan Tata has acquired stake in the brand, making him the first Indian investor.

[quote text_size=”small” author=”Xiaomi” link=”https://www.facebook.com/MiIndiaOfficial/photos/a.1504141266467106.1073741828.1495988390615727/1614587922089106″]

We are happy to announce that Mr. Ratan Tata, chairman Emeritus of Tata Sons, has made an investment in Xiaomi. This is the first investment by any Indian in Xiaomi.

Lei Jun, founder and CEO of Xiaomi, is happy to say: “Mr. Tata is one of the most well-respected business leaders in the world. An investment by him is an affirmation of the strategy we have undertaken in India so far. This is just the start of an exciting journey, and we are looking forward to bringing more products into India.”

[/quote]

Xiaomi has already made it to number 4 in the Indian smartphone market, and with Tata’s investment the company might get major push in the Indian retail market especially Tata Croma retail stores, which will now carry Xiaomi phones.

Xiaomi recently launched a new cheaper version of the Mi 4 dubbed the “Mi 4i” which is expected to do well in the Indian market.

April 27, 2015
After Acquiring US-Based UrbanSpoon, Zomato to be Available in 22 Countries Globally

It is a big day for foodies, as one of their favourite restaurant guide, Zomato, has entered the US market with the recent acquisition of UrbanSpoon. According to TechCrunch, the acquisition is worth $50-60 million, however, the company didn’t disclose the terms of the deal.

Urbanspoon is an IAC-owned restaurant information and recommendation service that operates in Australia, Canada, New Zealand, Ireland, the United Kingdom and the United States. Urbanspoon’s apps are known for their randomized Slot Machine. Users tap the ‘Spin’ button (or shake the device) to see new places to try based on neighborhood, cuisine or price.

This is one of the biggest deal in the food service industry as well as it marks the entry of Zomato in the USA market. Zomato claims that the deal is one of the largest purchases of a U.S-based consumer Internet company by an Indian start-up.

This latest deal, the sixth and biggest acquisition so far by Zomato, will be an all-cash transaction powered by the Gurgaon-based company’s most recent round of funding that closed in November. According to the founder and CEO Deepinder Goyal, most of Urbanspoon’s current staff will be retained, but its traffic and information will be redirected to Zomato’s apps and website by the end of March.

With US in its portfolio, Zomato has now reached 22 countries. Zomato last year acquired five restaurant search players in New Zealand, Poland, Czech Republic, Slovakia and Italy. The purchase should more than triple its database of restaurants, bringing the total up to over a million. In US, Zomato will compete with the likes of Google-backed online food listing portal Zagat and OpenTable. The deal will also help Zomato enter the Australian and Canadian market.

Zomato has recently revamped its online portal making it more like a Facebook for foodies. In the future, the company intends to add mobile payment options along with the ability to search among specific food items. Right now, Zomato’s biggest competition is Yelp which operates in about 28 countries and lists business ranging from restaurants to beauty salons and spas.

January 13, 2015
With Moto-Power Lenovo Becomes the Third Largest Smartphone Company in India

The acquisition of one of the most adored brands, Motorola by Lenovo was met with a wide negative response in India. But this acquisition did more for Lenovo than just being the owner of an awesome brand. It took an enormous leap in the Indian smartphone market. The Chinese electronics company now is the third biggest smartphone company in India.

Lenovo acquired Motorola from Google for a sum of $2.9-billion. The deal was finalized this Thursday, the 30th of October, and it will give Lenovo the boost in the Indian market that it was looking for. The deal got Lenovo in the third spot in India and many other markets globally.

This may also mean a bit of a pull back for Xiaomi. According to data research by IDC, the company will move down to the fourth spot after just recently hitting the podium stand. Seems like celebrations didn’t last long for the company. This will be a neck and neck competition because both Motorola and Xiaomi are stars of the low-cost markets. This is a market where the maximum amount of sales takes place. Lenovo has a good market stand in the offline channels and combined with the high online demand for Motorola product it can easily set a flag post at the third spot.

The top spot in India is still in the hands of Samsung, that has come up to become an alternative recognizable brand after the demise of Nokia. It holds 23.8% of the mobile phone market and is distantly followed by Apple with a market share of 12%.

Lenovo says that it considers India as an important market, and it will continue its original market plan. It will definitely benefit from the brand recognition of Motorola, especially in the youth market. Since its return to Indian shores, the company has sold over 2 million products from its catalog.

The Lenovo-Motorola partnership plans to sell about 100 million smartphones and tablets globally by march of next year which is an audacious task. The part of this acquisition that will be appreciated by most folks casting doubts on the future of Motorola products is that Lenovo and Motorola will continue on as separate entities. So you can expect your next Moto buy to still hold the Moto experience that you have come to love and appreciate.

November 1, 2014
Lenovo Reportedly Bidding to Acquire BlackBerry

Blackberry was once a device of choice for major celebrities and business professionals alike. Now after the emergence of the touch-screen revolution, it has found it hard to cope with the competition. Even though its features have been well appreciated, there have been fewer takers of its devices every quarter.

Now Lenovo, the Chinese company which has gobbled up some iconic business such as IBM’s workstation and Motorola Mobility, is now making a bid to acquire the Canadian firm. Benzinga claims that Lenovo might put forward the bid as early as this week.

The company is expected to make the starting bid of $15.00 per share and is expected to be closed at around $18.00 per share. BlackBerry shares have been hovering around the $9 mark, and this would seem like a profitable option for the company’s shareholders.

Lenovo had previously made a bid for BlackBerry last year. It was though blocked by the Canadian government. One of the major causes cited for the block was that Lenovo is a Chinese company, and the government didn’t want any mobile infrastructure falling into the hands of a Chinese Company.

Though it is unsure whether the Canadian government will allow a merger this time around. It sure will be a long process to convince the government the security of data. It is especially a concern because Blackberry is still used by entrepreneurial and government officials. They deal with sensitive data, and it might be a cause of concern for everyone using the device. This is a developing story, and we’ll keep our eyes on it. Come back for more.

October 21, 2014
Adobe to Expand its Cloud Offering with the New Aviary Acquisition

Adobe offers wide range of cloud-based features for designers and developers which continues to flourish everyday. Now, Aviary just announced that it has been acquired by Adobe. Aviary provides developers (and companies like Yahoo) with a set of photo-editing tools they can build into their own apps.

Adobe plans to integrate Aviary into the Creative Cloud and possibly provide a new “Creative SDK” intended to be more friendly with third-party apps. The two firms will work together on bringing Adobe’s editing tools and Creative Cloud services to more mobile apps.

Adobe said it’s developing a new software library—called Creative SDK—that will allow app developers to tap into the company’s offerings and aim to expand connections between mobile devices and its products. Adobe’s Creative SDK will also give third-party developers access to company application programming interfaces which were previously only available to the company’s internal engineering team.

According to the reports, Aviary has seen 10 billion photos processed through the service last year alone. In addition to a toolkit for developers, Aviary also offers a popular iOS and Android app for editing photos, also called Aviary. Aviary will continue operations as usual for now.

The company hinted at a collaboration with another Adobe unit, Behance, an online social media platform for creative professionals acquired by Adobe in 2012. The Aviary team will work closely with both Adobe-owned creative communities, Behance and Adobe’s creative cloud platform.

September 23, 2014
Microsoft Bags Minecraft With the Mojang Acquisition

Microsoft yesterday released a press statement saying that it has acquired Mojang in a massive $2.5 Billion deal. The Stockholm-based game developer is known majorly for its virtual world creation game, Minecraft. This will be a new addition in the list of several big money acquisitions that we have seen this year.

There were many interested parties who wanted to get the gaming company, but Microsoft moved fast to score a victory. Under the terms of the agreement, Microsoft will acquire Mojang for $2.5 billion. Microsoft expects to close the acquisition in late 2014 and to be break-even in FY15 on a GAAP basis.

The Game lets users make complex structures using lego-like blocks.

Minecraft was introduced in 2009 and since then has sold more than 50 million copies for PCs, smartphones and videogame consoles. The game has a huge fan following. YouTube is full of tutorials on Minecraft. There is also an upcoming movie based on the game and Lego also sells toys based on the game. This almost seems like a safe bet from Microsoft and hence they sound so optimistic of their acquisition.

“Gaming is a top activity spanning devices, from PCs and consoles to tablets and mobile, with billions of hours spent each year,” said Satya Nadella, CEO, Microsoft. “Minecraft is more than a great game franchise – it is an open world platform, driven by a vibrant community we care deeply about, and rich with new opportunities for that community and for Microsoft.”

The weird bit of this sale is that the creator of the game Markus Persson and other founders will not be coming to Microsoft. They have decided to undertake new adventures. On his personal website, Markus said, “Thank you for turning ‘Minecraft’ into what it has become, but there are too many of you, and I can’t be responsible for something this big.”

The game has a massive fan following who share tutorials all over the internet

Impressing the fans now would be a big task for Microsoft. Some of them have openly stated that a big corporation will ruin the game. Microsoft though said that it will do everything in its power to sustain the loyalties of the gamers.

The CEO of Mojang, Carl Manneh has this to say “The ‘Minecraft’ players have taken the game and turned it into something that surpassed all of our expectations. The acquisition by Microsoft brings a new chapter to the incredible story of ‘Minecraft.’ As the founders move on to start new projects, we believe the high level of creativity from the community will continue the game’s success far into the future. ”

Microsoft has said that more details about the deal will be published after the finalization of the acquisition. Microsoft is no stranger to gaming and is a market leader in gaming consoles. The innovation it brings to this game remains to be seen. Let’s hope Microsoft doesn’t make a Vista out of this one.

September 16, 2014
Apple to Buy Radio Curation App Swell for $30 Million

In the year of acquisitions, Apple’s latest is a $30 Million purchase of a Radio curation service called Swell. The report was brought out by Recode which said that Apple is close to buying the service.

Swell is a Radio and podcast compiler app which is currently available to iOS device users. It is a great service which is often compared to Pandora but for talk radio. The service offers access to major talk radio content providers.

It is said that under the clauses of the agreement, the team behind Swell will also come work for Apple. Apple might want to utilize their talents to better their own streaming service which is one of their least appreciated products. Swell’s app developers were also working on an Android version of their app, but with this acquisition, that project is probably out the window.

Apple has been seen this year going on a spending spree with a major Beats Audio purchase and other such smaller ones. In total the company has completed about 30 plus acquisitions in the past nine months. With this latest purchase of Swell, the app will now be taken down from the app store by the end of this week. It might be reintroduced with the new iOS 8 release.

July 28, 2014
Facebook Acquires Oculus VR For $2 Billion

Mark Zuckerberg and his team are following up their Whatsapp acquisition with another big acquisition of the virtual reality company Oculus VR for $2 billion in stock and cash.

Confirming this through a Facebook post, Mark Zuckerberg said “I’m excited to announce that we’ve agreed to acquire Oculus VR, the leader in virtual reality technology.

Our mission is to make the world more open and connected. For the past few years, this has mostly meant building mobile apps that help you share with the people you care about. We have a lot more to do on mobile, but at this point we feel we’re in a position where we can start focusing on what platforms will come next to enable even more useful, entertaining and personal experiences.

This is where Oculus comes in. They build virtual reality technology, like the Oculus Rift headset. When you put it on, you enter a completely immersive computer-generated environment, like a game or a movie scene or a place far away. The incredible thing about the technology is that you feel like you’re actually present in another place with other people. People who try it say it’s different from anything they’ve ever experienced in their lives.

Oculus’s mission is to enable you to experience the impossible. Their technology opens up the possibility of completely new kinds of experiences.

Immersive gaming will be the first, and Oculus already has big plans here that won’t be changing and we hope to accelerate. The Rift is highly anticipated by the gaming community, and there’s a lot of interest from developers in building for this platform. We’re going to focus on helping Oculus build out their product and develop partnerships to support more games. Oculus will continue operating independently within Facebook to achieve this.

But this is just the start. After games, we’re going to make Oculus a platform for many other experiences. Imagine enjoying a court side seat at a game, studying in a classroom of students and teachers all over the world or consulting with a doctor face-to-face — just by putting on goggles in your home.

This is really a new communication platform. By feeling truly present, you can share unbounded spaces and experiences with the people in your life. Imagine sharing not just moments with your friends online, but entire experiences and adventures.

These are just some of the potential uses. By working with developers and partners across the industry, together we can build many more. One day, we believe this kind of immersive, augmented reality will become a part of daily life for billions of people.

Virtual reality was once the dream of science fiction. But the internet was also once a dream, and so were computers and smartphones. The future is coming and we have a chance to build it together. I can’t wait to start working with the whole team at Oculus to bring this future to the world, and to unlock new worlds for all of us.”

It is clear that Facebook will run Oculus as a seprate entity all together after the Acquisition. Zuckerberg called out virtual reality as one of the computing platforms of the future following desktops and mobile. Stay tuned for more information on this acquisition!

March 26, 2014
Dropbox Acquires Zulip, a Workplace Chat Service

Dropbox has recently acquired a startup company, the workplace chat solutions provider Zulip. The company is still testing out its applications in a beta phase, which allows users to share private and public messages with co-workers.

With Zulip, users can share public messages, conversations between co-workers appearing in streams related to a particular issue or topic in discussion. Several layers of sub-sections can be created as well, allowing for more detailed conversations.

The company says its features will help users in finding conversations that are important. Other features include search, keyboard shortcuts, code syntax highlighting, drag and drop file uploads, group private messaging, email alerts for missed messages, and image sending.

This is not official yet, as both the companies have not issued statements, but a private email circulated by Zulip to its customers read, ‘Dropbox is acquiring Zulip.’

[quote text_size=”small”]

We have some news for you, but you gotta keep it secret. Can you do that? Alright, sweet, Here’s the deal: Dropbox is acquiring Zulip. We’re incredibly excited about working with an awesome group of people on a problem with huge scale, at a company that’s as passionate as we are about helping people work together efficiently.

[/quote]

March 18, 2014
Yahoo Acquires Movie Making Application Ptch

This is not a new story, as we have seen Yahoo and other firms acquiring start up based companies. To name a few, Yahoo has acquired start ups like Bre.ad, IQ Engines, Summly and On the Air.

Yahoo has now acquired another company, a movie making app ‘Ptch’. The company was launched a year ago, with a mission to give users the best way to make and share beautiful movies made from the photos and videos on the phone. The company seems to have done well, as Yahoo noticed them and has now acquired them.

In a blog from the company, it says:

Today, we’re excited to announce that Ptch will be joining Yahoo! As part of the Yahoo team, we’ll be able to focus our efforts and leverage our technology to make Yahoo’s photo and video platforms the best in the world.

The company has also suggested users to keep all there photos and save them, before they shut down(January 2nd 2014). However, it will be interesting to see how will yahoo use this service to enhance Flickr.

[Ptch]

December 4, 2013
Apple Acquires Twitter Analytics firm Topsy, Wants to try hand at Social Again

With many a failed attempts at Social markets, looks like Apple is far from giving up. Apple has acquired Topsy Twitter analytics, for a reported $200 million. Most Companies use Topsy to utilize the data for tweet mapping, and trend filtering on Twitter. What Apple’s intentions are, however is currently unknown.

Apple had earlier launched Ping as a social network which, was a software-based, music-oriented social networking and recommender system service developed and operated byApple. It was announced and launched on 1 September 2010, as part of the tenth major release of iTunes.The service launched with 1 million members in 23 countries. The service allowed users to follow artists and see short timely postings by both friends and artists. Ping was also accessible via iTunes for the iPhone and iPod Touch.

Apple officially closed the service on September 30, 2012 and replaced it in iTunes with Facebook and Twitter integration. Lets hope a better fate can be received to Topsy.

December 3, 2013
Apple Confirms Buyout For PrimeSense, Get Ready For Motion Controlled Future

Apple has confirmed its acquisition of the Microsoft’s Kinect maker, Prime Sense. Last week, an Israeli news source Calcalist confirmed that Apple has acquired PrimeSense for $345 Million.

Now in an official statement to All Things D, an Apple spokesperson said: “Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans”. The deal is said to have been completed on Sunday and the total cost involved was around $360 million.

Apple’s intentions behind this acquisition is not clear, but one can sense a motion controlled future ahead. Apple is also believed to use this technology for its rumored iTV. Like many other Apple rumors, only time will tell what Apple will do with this tech.

[via]

November 25, 2013
Apple Buys Kinect Co-Creator: PrimeSense

Apple has just acquired Kinect Co-Creator PrimeSense for a whopping sum of US $ 345 Million, according to Israeli news source Calcalist.

If the news is true, this could mean that Apple’s future devices may have motion sensing technologies. Alternatively it could mean that Apple could make displays with this technology built in. Maybe Apple’s rumored iTV will have this tech inbuilt to interact with the hardware. According to reports, the last time Apple tried to acquire PrimeSense, the deal was scrapped due to legal woes. However this time around the company was eager to acquire the ex-kinect maker to improve on the Apple TV.

[VIA]

November 18, 2013
Facebook Acquires Onavo To Speed Up Its Mobile Application

Facebook announced on Monday it has acquired Onavo, an Israel based startup focused on intelligence around mobile application data. For more than three years, Onavo has plied its trade reducing internet costs for smartphone users.

Under Facebook’s guidance, Onavo will work with members of the Internet.org coalition to increase the efficiency and lower the cost of web access. Expect Facebook’s apps to get a speed boost in the future, helping it deliver its growing influx of ads. Users if Onavo app may not worry as the company will continue to operate under its own brand.

Our service helps people save money through more efficient use of data, and also helps developers, large and small, design better experiences for people,” Onavo co-founders Guy Rosen and Roi Tiger wrote in a company blog post early Monday morning. “We’re excited to join their team, and hope to play a critical role in reaching one of Internet.org’s most significant goals – using data more efficiently, so that more people around the world can connect and share.”

[via]

October 14, 2013
BlackBerry Enters Agreement for $4.7 billion Sale of Company to Consortium led

While people continue struggling to get BBM on Android and iOS, BlackBerry has just announced that it has signed a letter of intent agreement for a sale of the company valued at $4.7 billion to consortium led by Fairfax Financial. The deal is expected to be completed by November 4th and would see BlackBerry go private.

In a statement, Fairfax Chairman and CEO Prem Watsa said:

we believe this transaction will open an exciting new private chapter for BlackBerry, its customers, carriers and employees,” adding, “we can deliver immediate value to shareholders, while we continue the execution of a long-term strategy in a private company with a focus on delivering superior and secure enterprise solutions to BlackBerry customers around the world.”

Barbara Stymiest, Chair of BlackBerry’s Board of Directors, said: “The Special Committee is seeking the best available outcome for the Company’s constituents, including for shareholders. Importantly, the go-shop process provides an opportunity to determine if there are alternatives superior to the present proposal from the Fairfax consortium.”

The letter of intent holds a transaction in which BlackBerry shareholders would receive U.S. $9 in cash for each share of BlackBerry share they hold.

[toggle title=”Press Release”]BlackBerry Enters into Letter of Intent with Consortium led by Fairfax Financial

– BlackBerry shareholders would receive U.S. $9 per share in cash – Transaction valued at approximately U.S. $4.7 billion – Consortium permitted 6 weeks to conduct due diligence – BlackBerry entitled to go-shop during due diligence period, subject to payment of a termination fee in the event alternative offer accepted

WATERLOO, ONTARIO, Sep 23, 2013 (Marketwired via COMTEX) — BlackBerry Limited BBRY -5.67% CA:BB -6.61% today announced it has signed a letter of intent agreement (“LOI”) under which a consortium to be led by Fairfax Financial Holdings Limited (“Fairfax”) has offered to acquire the company subject to due diligence.

The letter of intent contemplates a transaction in which BlackBerry shareholders would receive U.S. $9 in cash for each share of BlackBerry share they hold, in a transaction valued at approximately U.S. $4.7 billion. The consortium would acquire for cash all of the outstanding shares of BlackBerry not held by Fairfax. Fairfax, which owns approximately 10 percent of BlackBerry’s common shares, intends to contribute the shares of BlackBerry it currently holds into the transaction.

The BlackBerry Board of Directors, acting on the recommendation of a special committee of the board of directors (the “Special Committee”), approved the terms of the LOI under which the consortium, which is seeking financing from BofA Merrill Lynch and BMO Capital Markets, would acquire BlackBerry and take the company private subject to a number of conditions, including due diligence, negotiation and execution of a definitive agreement (the “Definitive Agreement”) and customary regulatory approvals.

The Special Committee, chaired by Director Tim Dattels, was formed in August 2013 to review strategic alternatives for the company. J.P. Morgan and Perella Weinberg are acting as financial advisors and Skadden, Arps, Slate, Meagher & Flom LLP and Torys LLP are acting as legal advisors.

Diligence is expected to be complete by November 4, 2013 (“Diligence Period”). The parties’ intention is to negotiate and execute a definitive transaction agreement by such date. During such period, BlackBerry is permitted to actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals (“Alternative Transactions”).

If (A) during the Diligence Period (i) BlackBerry enters into any letter of intent or definitive agreement providing for an Alternative Transaction, (ii) BlackBerry ceases to negotiate with the consortium in good faith with a view to entering into the Definitive Agreement by the end of the Diligence Period, or (iii) an Alternative Transaction is publicly proposed or publicly announced and is consummated within 6 months following the end of the Diligence Period, or (B) during the 3 month period following the end of the Diligence Period, BlackBerry enters into any agreement providing for an Alternative Transaction with a person with whom discussions were held before or during the Diligence Period, then BlackBerry shall pay Fairfax a fee of U.S. $0.30 per BlackBerry share, provided, however, that no such fee shall be payable if the consortium shall have reduced the price offered below U.S. $9.00 per share without the approval of the board of directors of BlackBerry. In the event that a definitive agreement is signed with Fairfax the termination fee will increase to U.S. $ 0.50 per share.

Barbara Stymiest, Chair of BlackBerry’s Board of Directors, said: “The Special Committee is seeking the best available outcome for the Company’s constituents, including for shareholders. Importantly, the go-shop process provides an opportunity to determine if there are alternatives superior to the present proposal from the Fairfax consortium.”

Prem Watsa, Chairman and CEO of Fairfax, said: “We believe this transaction will open an exciting new private chapter for BlackBerry, its customers, carriers and employees. We can deliver immediate value to shareholders, while we continue the execution of a long-term strategy in a private company with a focus on delivering superior and secure enterprise solutions to BlackBerry customers around the world.”

In addition to the consortium and its lenders being satisfied with all aspects of the due diligence to be carried out by them during the Diligence Period and the negotiation and execution of a binding definitive agreement approved by the board of BlackBerry, completion of the transaction will be subject to other customary conditions, including receipt of required regulatory approvals. There can be no assurance that due diligence will be satisfactory, that financing will be obtained, that a definitive agreement will be entered into or that the transaction will be consummated.

BDT & Company, LLC, BofA Merrill Lynch and BMO Capital Markets are acting as financial advisors, and Shearman & Sterling LLP and McCarthy Tetrault LLP are acting as legal advisors to Fairfax in connection with the transaction.

About BlackBerry

A global leader in wireless innovation, BlackBerry(R) revolutionized the mobile industry when it was introduced in 1999. Today, BlackBerry aims to inspire the success of our millions of customers around the world by continuously pushing the boundaries of mobile experiences. Founded in 1984 and based in Waterloo, Ontario, BlackBerry operates offices in North America, Europe, Asia Pacific and Latin America. BlackBerry is listed on the NASDAQ Stock Market BBRY -5.67% and the Toronto Stock Exchange CA:BB -6.61% . For more information, visit www.blackberry.com.

Forward-looking statements in this news release are made pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used herein, words such as “plan”, “target”, “will”, “expect”, “anticipate”, “estimate”, “may”, “should”, “intend”, “believe”, and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are based on estimates and assumptions made by BlackBerry Limited in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that BlackBerry believes are appropriate in the circumstances. Many factors could cause BlackBerry’s actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including those described in the “Risk Factors” section of BlackBerry’s Annual Information Form, which is included in its Annual Report on Form 40-F (copies of which filings may be obtained at www.sedar.com or www.sec.gov). These factors should be considered carefully, and readers should not place undue reliance on BlackBerry’s forward-looking statements. BlackBerry has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.[/toggle]

September 24, 2013