It's been a historic week: Britons voted to leave the European Union, the Cavaliers brought a championship to Cleveland and Orlando began trying to heal from the massacre at the Pulse nightclub. The world of telecom had its share of news too.
Here's a wrap-up of some service provider news items that caught our attention over the last few days.
The MTN Group named former Vodacom and Vodafone executive Rob Shuter its new president and CEO. Shuter, previously a chief financial officer at Vodacom and CEO for Vodafone's European operations, will join MTN in 2017, the South African-based telecom company says. In addition, MTN plans to announce a new vice president of mergers and acquisitions and strategies before the end of June, while ex-Vodacom exec Godfrey Mosta will lead MTN in the Southern and Eastern Africa area, starting in July.
In other executive news, AT&T appointed Geoffrey Yang, a founding partner and managing director of Redpoint Ventures, to its board of directors. Yang will serve on the communication service provider's Corporate Development and Finance Committee. Yang, who co-founded Redpoint in 1999, is one of a team who supported more than 40 IPOs and 60-plus acquisitions; he's funded, helped found or served on the board of companies such as Juniper Networks, Netflix and Arista Communications.
Nikesh Arora resigned as president and chief operating officer of Softbank on June 22, then on June 24 took a similar step when he left Sprint's board. (See: Arora Removes Aura From SoftBank.) Arora resigned after
SoftBank Corp. CEO and founder Masayoshi Son said he would stay at the company's helm for another five to ten years, not the previously anticipated one to two years. At least initially, investors liked the news, with both Softbank and Sprint Corp. (NYSE: S) stock increasing.
Verizon this week further extended its focus on the Internet of Things (IoT) with the acquisition of Telogis, developer of a software-as-a-service (SaaS) solution for connected vehicles and mobile enterprise management. Terms of Verizon's deal with the privately held company were not disclosed. Telogis provides Verizon Communications Inc. (NYSE: VZ) with both products and access to vehicle and equipment manufacturers plus new distribution relationships, says Andres Irlando, CEO of Verizon Telematics in a statement.
Altice this week finalized its acquisition of Cablevision, the leading CSP in the New York metro area. In partnership with Suddenlink, Cablevision will now form Altice USA, making the Netherlands-based company the fourth-largest cable operator in the United States. The acquisition of Cablevision by Altice represents an enterprise value of $17.7 billion. (See: Altice Closes On Cablevision.)
— Alison Diana, Ambassador, The New IP Agency
. Follow her on Twitter @alisoncdiana