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Totvs SA, the largest Latin American producer of enterprise software, agreed on Friday to buy Brazilian rival Bematech SA for about 556 million reais ($156 million) in cash and stock, creating a company whose software will cater to more than half the restaurants, retailers and hotels in the country. Under terms of the transaction outlined in a public statement, Bematech shareholders will receive 9.35 reais in cash minus intermediary dividends, plus 0.0434 Totvs stock for each of their shares. Based on those terms, Totvs would be paying a premium of about 54 percent over Bematech’s closing price on Thursday and the equivalent of 7.2 times Bematech’s estimated operational earnings this year, according to Thomson Reuters calculations.

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By Christina Farr and Nichola Groom SAN FRANCISCO (Reuters) – Apple Inc will buy about $850 million of power from a new California solar farm to cut its energy bill, the iPhone maker said on Tuesday as its stock market value closed above $700 billion for the first time. The First Solar Inc plant, with the capacity to power the equivalent of 60,000 homes, will be used to supply electricity for Apple's new campus in Silicon Valley, and its other offices and 52 stores in the state, Chief Executive Tim Cook said at a Goldman Sachs technology conference in San Francisco. Cook addressed investors as Apple's stock market value closed at $710.74 billion for the first time, buoyed by record sales of big-screen iPhones and a December-quarter profit that was the largest in corporate history. Apple was already the world's largest publicly traded company by stock value.