Volvo’s parent company acquires flying car startup

Are flying cars going to finally make a leap from sci-fi fantasy to our reality? Volvo’s parent company Geely just completed its acquisition of Terrafugia, making the US-based company a fully-owned subsidiary of the Chinese automotive giant. Terrafugia under Geely will continue to work on flying cars in the US but will bring in both the deep pockets of Geely and their automotive experience. The company will take on a new board of directors that will have a mix of veteran Terrafugia backers, Geely execs, and Bell Helicopter’s managing director for China.

When it comes to concerns of the acquisition hurting the US economy, Terrafugia says it has received green light from the Committee on Foreign Investment in the country and it has supposedly “tripled” its engineer count to almost 100 in anticipation of the acquisition. So while the company isn’t US-owned anymore, it’ll contribute to the country’s workforce. It aims to release its first flying car in 2019 and the electric TF-X car you see above by 2023. The company seems to have been stuck in limbo when it comes to the development of these cars but perhaps the extra boost of cash and experience will help propel them forward. Of course, what we don’t know is whether the development of flying cars would see a need for them.

Source: Engadget

Qualcomm reportedly asking for more money before accepting Broadcom’s takeover bid

Coolcaesar at en.wikipedia

Looks like Qualcomm wants to resist a bit more before considering accepting a takeover deal from Broadcom, at least according to a Reuters report. Supposedly Broadcom’s US$70 per share offer, while setting a record, “undervalues” Qualcomm and doesn’t take into account any regulatory hurdles that they might need to overcome once the deal is done. According to Reuters sources, Qualcomm might object to the sale as early as November 13 but will probably take a few days before issuing a fuller response.

On Broadcom’s side, it seems they’re ready to raise its bid, according to the report. And it hopes to submit its own selection of directors for Qualcomm’s board. And if the shareholders want a deal, they could possibly vote for new board members and force Qualcomm to negotiate. Neither company is commenting on the report at the moment.

Source: Engadget

Is Hasbro planning to buy Mattel?

This might not seem to be the right space to talk about this a few years back but with gadgets and even connected toys taking up more and more of the attention of children, this doesn’t seem too off tangent. A new report from the Wall Street Journal claims Hasbro recently made an offer to purchase Mattel. It wasn’t said how receptive Mattel was to the idea or how much Hasbro offered but the move would put two hot properties side by side: My Little Pony and Hot Wheels. A merger of the two companies might help both sides. Hasbro, who has been taking advantage of the popularity of its Disney-themed toys as well as licenses from TV and movie deals, can help out Mattel, who is trying to turn around years of failed toy lines.

The acquisition will also give Hasbro access to Mattel’s manufacturing facilities. The former gave up its own facilities a while back. On top of that, Mattel could contribute to building up Hasbro’s tech-driven toys, which they need to develop more of now as they compete with top tech companies for the younger audience. Of course, this might raise concerns about how this could violate US antitrust law but whether this will draw as big a scrutiny and opposition as telecom mergers is something we can’t say yet. Both parties refuse to comment about the rumours.

Source: Engadget

EA buys ‘Titanfall’ studio Respawn

Titanfall 2 didn’t do as well as expected when it came out, leaving the future for the game a bit uncertain. At least, the studio doesn’t seem to be suffering the same fate. EA just announced it acquired Respawn in a deal valued over US$400 million. EA has previously published two Titanfall games so the acquisition doesn’t come as a surprise.

The two are already working on a few projects. One is a third-person Star Wars game, which was announced back in May 2016. Another is a virtual reality experience. And last is another title for the Titanfall universe. What isn’t known is if it’ll be Titanfall 3 or a mobile version of the game.

Source: Engadget