Techmeme
August 2, 2016, 1:45 AM

Top News

Eric Newcomer / Bloomberg:
Didi Chuxing acquires Uber China; Uber China investors get a 20% stake of the combined business, which sources say has a $35B valuation  —  Uber Technologies Inc. will merge its China business with Didi Chuxing, the dominant ride-hailing service in the country, according to people familiar with the matter.
Didi Chuxing:
Didi Chuxing to acquire UberChina  —  Combined resources to promote healthy development of the rideshare industry  —  Didi Chuxing today announced a strategic agreement with Uber under which Didi Chuxing will acquire all assets of UberChina—including its brand,business operations and data—for operation within mainland China.
Ingrid Lunden / TechCrunch:
Salesforce buys word processing app Quip, sources say for $750M  —  Salesforce is continuing its buying spree to expand the services that it offers to its customers.  The company has just announced that it is acquiring Quip, the cloud-based word processing app that was co-founded by Bret Taylor, formerly CTO of Facebook.
Jacob Kastrenakes / The Verge:
Washington state sues Comcast for $100M+, saying customers paid $73M for “near-worthless” protection plan over 5 years, had their credit unnecessarily checked  —  Comcast is being sued for more than $100 million by Washington state, which claims that the cable giant illegally deceived customers …
Adi Robertson / The Verge:
New York's correctional dept., at Gov. Cuomo's behest, makes playing online games a parole violation for sex offenders, spurred by report on Pokémon Go usage  —  At the direction of Governor Andrew Cuomo, New York's correctional department has made playing online games a violation …
Peter Sterne / Politico:
Ingrid Lunden / TechCrunch:
Verizon buys Fleetmatics, provider of SaaS GPS and logistics products, for $2.4B in cash  —  Hot off the heels of its acquisition of Yahoo last week for $4.8 billion, today Verizon announced another huge purchase: it's buying Fleetmatics, a telematics company based out of Dublin, Ireland …
Reuters:
Judge voids VirnetX's $625.6M patent infringement verdict in case against Apple, says it was unfair that two lawsuits were combined in one trial; new trials set  —  A federal judge has thrown out a verdict requiring Apple Inc (AAPL.O) to pay VirnetX Holding Corp (VHC.A) …

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