Carl Icahn and Darwin Deason are a couple of seasoned billionaire investors, who know a bad deal when they see it, and they definitely don’t like the $6.1 billion deal announced last month to combine Fuji with Xerox. In a blog post published today, they are urging fellow shareholders to reject the offer.
You may recall that it was Icahn and Deason, who together own a 15 percent stake in the printing a copier giant, demanded that Xerox be put up for sale last month. Oh and while they were at it, they also demanded that CEO Jeff Jacobsen be fired immediately. These guys most definitely do not mess around.
But in a case of being careful what you wish for (or demand), Xerox did what it was told, but Icahn and Deason don’t like the terms They believe they unfairly favor Fuji and allows them take Xerox and incorporate it into their company without any assurances that investors like them will get what they see as a fair return.
In a joint statement published on Ichan’s website, the two billionaires did not pull any punches on what they thought of the deal (nothing much, nothing much) when they stated, “The transaction has a tortured, convoluted structure, but it was best summarized by Shigetaka Komori, Fuji’s Chairman and CEO, when he boasted to the Nikkei Asian Review that the “scheme will allow us to take control of Xerox without spending a penny,” they wrote in their blog post.
Neither are they thrilled with the way that Fuji has been run in the past, but beyond governance, it really appears to be an issue of pure economics for the pair. “Beyond the issues of control and governance of our investment going forward, the fundamental economics of this transaction also disproportionately favor Fuji at our expense,” they wrote.
They don’t stop there criticizing the standing partnership deal Xerox and Fuji have had in place for years, writing, “Sadly, as we all know, this is not the first time Xerox has negotiated a dreadful deal with Fuji.” They go onto claim that the terms of that deal have been withheld from shareholders for years. They are clearly not happy campers and they aren’t hiding it.
They close unsurprisingly by asking fellow shareholders to reject the deal. “To put it simply, the current Board of Directors has overseen the systematic destruction of Xerox, and, unless we do something, this latest Fuji scheme will be the company’s final death knell. We urge you – our fellow shareholders – do not let Fuji steal this company from us. There is still tremendous opportunity for us to realize value on our own if we bring in the right leadership,” they wrote.
It’s not often you get such an unfiltered view of how billionaire investors view a deal of this ilk, but in spite of pressing for a sale of Xerox, this is obviously not the deal these men want, and they have made it clear they will fight it tooth and nail.
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Adecco Group acquires recruiting startup Vettery for $100M
The financial terms were not disclosed, but a source with knowledge of the deal told us that the price was a little over $100 million. (It’s not clear how much of that is cash versus stock.)
We’ve reached out to the Adecco Group for confirmation and will update if we hear back. A Vettery spokesperson declined to comment.
Vettery was launched in 2014. Shortly after that, co-founders Brett Adcock and Adam Goldstein told me that they’re hoping to reinvent the traditional recruiting process. They’ve created a marketplace where job candidates browse offers, schedule interviews with the employers that interest them and receive a signing bonus from Vettery when they take a job — all assisted by an on-staff “talent executive.”
The company says it now works with more than 4,000 employers to fill positions in IT, sales and finance. It’s raised a total of $11.9 million from investors including Greycroft and Raine Ventures.
According to Adecco, Adcock and Goldstein will continue to lead the Vettery team.
“The acquisition of Vettery accelerates the development of the Adecco Group’s digital strategy, broadening our offering into the fast-growing digital permanent recruitment market and complementing our professional recruitment businesses,” said Adecco Group CEO Alain Dehaze in the acquisition release. “Digital innovations have the potential to transform the recruitment industry and the Adecco Group is taking the lead.”
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Sonos One is the speaker to beat for those that want great sound and smarts
The connected speaker wars are upon us, and one day they will be detailed in history books for all to remember. But here now, it can be hard to cut through the various narratives surrounding the options out there and pick a winner. Now that the cards are on the table in terms of offerings from the major players, however, it’s pretty clear that Sonos has the best option available for most people.
Sonos One, the connected speaker that the company released last year, is a terrific sounding Wi-Fi-enabled speaker that also has built-in support for Amazon’s Alexa, which is if not the best smart assistant out there, then at least tied for first with Google’s Assistant.
On the sound front, Sonos has the most experience of any of the top three companies making smart speakers worth your consideration, too. The Sonos One is, in many ways, just an updated version of the Sonos Play:1 that’s acoustically very similar – but that’s actually a really good thing. The Sonos One, like the Play:1, is a terrific sounding audio device, especially given its size and physical footprint.
I’ve been using a pair of Sonos Ones for the past couple of weeks, and it’s clear that they do a great job of filling a room with sound, thanks in part to Sonos’ sound shaping tech that uses a two-minute setup process involving waving your phone around to properly model the audio they put out for your space.
Individually, a Sonos One is already a strong contender even against the Google Home Max and HomePod for sound quality for most people (who don’t need the additional power or won’t notice the auditory improvements afforded by the larger speakers) but the Sonos One has a another neat trick up its sleeve, since it can form a stereo pair with a second Sonos One. This provides true sound separation, meaning left and right channels reproduced as they were actually meant to be, instead of via some simulated stereo separation effect (which can be pretty cool, as HomePod reviews show, but which ultimately can’t match true stereo separation).
Another huge benefit of Sonos vs. the competition: the Sonos One integrates out of the box with the rest of your Sonos setup, should you have one. You can control all speakers via voice, and group them together for whole home/room-by-room playback. Google’s Home Max can work together with Chromecast-enabled speakers for similar multi-room streaming setups, and HomePod is set to get an update that will add multi-room and stereo syncing, but Sonos One offers both of these now, and using a method that’s proven to work.
There’s also pricing to consider. Sonos One, in a bundle with two, is available for $349 right now, which is the same price as a single HomePod. It’s an unbeatable deal, given the other advantages listed above, especially since it means you can see if you like it alone, or equip multiple rooms with Alexa smarts and quality connected sound in one go.
There are reasons to consider other options, to be sure, especially if you’re 100 percent committed to the Apple ecosystem of device and services, but in general for most people, for most use cases, Sonos One is the far better choice.
Stride, Atlassian’s Slack competitor, opens its API to all developers
The arrival of Stride, Atlassian’s Slack competitor, was probably the company’s biggest launch of 2017. While the company generally allows developers to easily integrate with its products, Stride’s API remained in closed beta for significantly longer than the product itself, which exited beta last September. Today, however, Atlassian is opening the Stride API to all developers.
As the company notes, this is the first API that sits on top of the new Atlassian API platform. Thanks to this, Stride developers will get access to a new app management console that makes it easier for them to manage their app’s credentials, for example. In addition, Atlassian is also making a new documentation interface available for Stride developers.
Developers can also include app cards inside conversations and create action buttons (or even build a pop up dialog for when they need to show multiple button actions, for example). These buttons can both act on Stride itself (to open the app sidebar or a dialog, for example) or call on a backend service (which could be any REST endpoint). The team also notes that Stride apps can upload files (think presentations, videos and pictures) into conversations.
Atlassian says about 1,000 developer signed up for early access to the API.
What’s maybe more important, though, is that the company also says that “tens of thousands of teams” now use Stride. That’s not exactly at the same level of Slack, which has more than 6 million active users, or Microsoft Teams, which is now in use by more than 125,000 teams, but it shows that there’s some momentum behind the platform. The modern workplace, after all, seems to have a need for an ever increasing number of tools that provide constant interruptions.
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