Tag: Amazon.com Inc

US jury tells Apple to pay $308.5 million for patent infringement – Times of India

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NEW DELHI: A federal jury in Texas said Apple Inc must pay about $308.5 million to Personalized Media Communications LLC (PMC) for infringing a patent associated with digital rights management.
The jurors late no Friday directed Apple to pay a running royalty to PMC, which is generally based on the amount of sales of a product or service.
PMC, a licensing firm, had originally sued Apple in 2015 alleging the tech giant’s iTunes service infringed seven of its patents.
Apple successfully challenged PMC’s case at the US patent office, but an appeals court in March last year reversed that decision, paving the way for the trial.
The iPhone maker did not immediately respond to Reuters’ request for comment but told Bloomberg that it was disappointed with the ruling and would appeal.
“Cases like this, brought by companies that don’t make or sell any products, stifle innovation and ultimately harm consumers,” Apple was quoted as saying by Bloomberg.
Sugarland, Texas-based PMC has infringement cases pending against companies including Netflix Inc, Alphabet Inc’s Google and Amazon.com Inc.
The case is Personalized Media versus Apple Inc.

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Walmart’s Flipkart considers US listing with SPAC as option – Times of India

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NEW DELHI: Walmart Inc’s Flipkart is exploring going public in the US through a merger with a blank-check company as it seeks to quicken its listing process, according to people familiar with the matter.
The Bengaluru-based online retailer has been weighing a US initial public offering and it’s now also looking at other options, the people said. Flipkart’s advisers have approached several SPACs, said one of the people, who asked not to be identified as the information is not public. Flipkart could seek a valuation of at least $35 billion in a blank-check transaction, the people said.
Deliberations are at an early stage and Flipkart could still explore other options, the people said. A representative for Flipkart had no immediate comment.
The e-commerce firm is joining other Indian firms like online grocer Grofers in exploring a US listing through SPAC deals. ReNew Power last week agreed to merge with a US-listed special purpose acquisition company in a deal that will give India’s biggest renewable power producer an enterprise value of $8 billion.
Merging with SPACs, which are shell companies that raise money from public investors intending to acquire a business within two years, will allow Walmart to take its India unit to market at a faster pace than the usual IPO route. As many as 10 Indian companies could go public through SPAC deals before the end of the year, Utpal Oza, head of investment banking for India at Nomura Holdings Inc, said in an interview.
Flipkart, which is battling with e-commerce arch-rival Amazon.com Inc and Mukesh Ambani’s retail venture for market share in India, started operations in 2007 and now sells 80 million products on its platforms. Walmart acquired a majority stake in Flipkart in a $16 billion deal in 2018.

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