Japan's leading printer and photocopier maker Konica Minolta Inc. announced at the company will be acquiring Ambry Genetic Corp. - a US diagnostic company, in a deal valued at up to USD 1 billion. This is one of the largest deals for Konica Minolta and the company will jointly carry out the acquisition with the funds provided by Innovation Network Corp of Japan. Konica Minolta, which has a market value of around $4 billion, will account for 60 percent of the investment and the Innovation Network Corp of Japan (INCJ) will provide for the remaining 40 percent. Both the companies intend to enter into the precision medicine segment which is expected to have a great potential for the treatment of cancer. KMI has its own diagnostic technique, utilising a High Sensitive Tissue Testing (HSTT) technology, while Ambry excels in genetic tests for breast, colon and cancers, heart and respiratory diseases, etc. Further, the company will combine its HSTT technology and Ambry's genetic diagnostic technology to offer high-standard cancer diagnostic services and aid the development of new reagents which will help produce new medicines. Talking about the acquisition, Shoei Yamana - Chief Executive Officer of Konica Minolta Inc., said, “Together with Ambry, we will have the most comprehensive set of diagnostic technologies for mapping an individual's genetic and biochemical makeup." The companies expect to complete the necessary procedure for the deal by the end of October, 2017 and post which, Ambry will become a subsidiary of KMI while Ambry's business will be continued in the US.
Toshiba Corp. on July 11 had a meeting with its main banks about the negotiation of the sale of its semiconductor memory business with the Japan-US-South Korea ally led by Innovation Network Corp. of Japan (INCJ). The top management of Toshiba explained the negotiation is stalemated because the ally has a difficulty on the roles of SK Hynix of South Korea, which seems to have a stronger interest in NAND type flash memory technology than the other have earlier expected because SK is behind Samsumg in the mass production for NAND memory while it has know-how in DRAM production, which lacks in Toshiba and thinks the company has a merit to join the ally and commit to Toshiba Memory’s production more aggressively. Toshiba revealed it has started to negotiate again with Western Digital and Hon Hai Precision. WD has proposed the acquisition by allying with U.S. fund Kohlberg Kravis Roberts (KKR & Co.), INCJ and Development Bank of Japan. Toshiba wants to decide the sale of Toshiba Memory by the end of March, 2018 in order to have excessive liabilities two years in a row which is to lead to the company going private.
19th August is celebrated as World Photography Day every year. To add to the celebrations, ASUS announced the launch of its latest smartphone ZenFone Zoom S. With its slim and lightweight body, this new phone is specifically built for photography. It features dual 12MP cameras with 2.3X true optical zoom and 12X total zoom. Its SuperPixel camera provides a pixel size of 1.4 micron. It features the Sony IMX362 sensor and provides a large f/1.7 lens aperture. It also features a fouraxis Optical Image Stabilization (OIS) and three-axis Electronic Image Stabilization (EIS), RGB Colour-correction sensor for auto colour adjustments, 48MP Super Resolution mode that combines four native 12MP photos to create a single large image and 19 different capture modes. ASUS ZenFone Zoom S comes with a 5.5in Full HD 1920 x 1080 AMOLED display, along with 2.5D contoured Corning Gorilla Glass 5. It is powered by Qualcomm Snapdragon 625, 14nm Octa-core @ 2.0 GHz processor. This new ZenFone comes with a 5000mAh battery that can last up to 2 days. The new ASUS ZenFone Zoom S is launched online and will be available exclusively on Flipkart at INR 26,999.