Tech Five: Symantec lands big acquisition
Along with Symantec's acquisition of security firm Blue Coat, Apple is unveiling new iOS features at the Worldwide Developer Conference in San Francisco Monday. Video game conference E3 will also occur on Monday in Los Angeles, where Sony will demo its PlayStation 4 virtual reality game console.
Here are the top tech stocks to watch, plus a heads up the day's biggest tech conferences:
Symantec. The computer security company will acquire Blue Coat, a network security firm based in Sunnyvale, Calif, for $4.6 billion in cash as announced on Monday. With the deal, Blue Coat CEO Greg Clark will become the new CEO of Symantec and join its board of directors. The deal is expected to close out in the third quarter of 2016.
Yahoo. According to Reuters, Verizon and AT&T will head to final round of bidding for Yahoo’s core internet assets, along with a consortium led by Quicken Loans founder Dan Gilbert. The assets include 3,000 patents, which involve the original search technology and date back to 1996.
Twilio. The struggling cloud communications startup Twilio has set terms for its initial public offering, planning to sell 10 million shares at between $12 and $14 per share, according to Fortune. The San Francisco-based company lost $35.5 million last year.
Apple. Apple’s annual Worldwide Developers Conference in San Francisco is kicking off Monday. Among the biggest highlights: the company is said to be expanding iMessage to Android products and Siri will get an upgrade.
E3. The Electronic Entertainment Expo, annual video game conference in Los Angeles, will also be going on Monday. Virtual reality will take center stage at the event, with Sony’s PlayStation VR showing consumers a glimpse of the new PlayStation console, available in October at $399.99. Follow reporter Brett Molina (@brettmolina23) for updates from the conference.