thomson-reuters

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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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A year and a half ago, Apple Inc had applied for just eight patents related to auto batteries. Recently, it has hired a bevy of engineers, just one of whom had already filed for 17 in his former career, according to a Thomson Reuters analysis. The recent spate of hires and patent filings reviewed by Reuters shows that Apple is fast building its industrial lithium-ion battery capabilities, adding to evidence the iPhone maker may be developing a car. Quiet, clean electric cars are viewed in Silicon Valley and elsewhere as a promising technology for the future, but high costs and “range anxiety”, the concern that batteries will run out of power and cannot be recharged quickly, remain obstacles.

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Verizon Communications Inc's quarterly revenue rose 6.8 percent due to an increase in subscribers who pay for services after use, and a rise in average revenue per account as users added more devices to shared data plans. Shares in Verizon dipped slightly to $47.95 in premarket trading after closing at $48.25 on Wednesday. Excluding items, Verizon earned 71 cents per share, matching Wall street estimates, according to Thomson Reuters I/B/E/S. Revenue rose to $33.19 billion from $31.07 billion, slightly higher than analysts' expectations of $32.69 billion. Verizon's retail postpaid average revenue per account rose to $158.82 from $157.21, but was below $161.64 estimated by analysts polled by research firm StreetAccount.

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By Paul Carsten BEIJING (Reuters) – Alibaba Group Holding Ltd reported quarterly results which showed net income rising 15.5 percent to $1.11 billion for the July-September period, meeting forecasts. It was the Chinese e-commerce giant's first report to investors since its record-setting $25 billion listing in September. The non-GAAP net income – which excludes the share-based compensation expenses and amortisation of intangible assets – compared with a consensus estimate of $1.17 billion based on a Thomson Reuters SmartEstimate poll of 21 analysts. Revenue rose 53.7 percent to $2. …