Starwood Hotels & Resorts Worldwide Inc and Marriott International Inc said on Friday the... Read More
Starwood Hotels & Resorts Worldwide Inc and Marriott International Inc said on Friday the stockholders of the companies voted to approve Marriott’s acquisition of Starwood to create the world’s largest hotel company.
Holders of more than 97 percent of Marriott shares and over 95 percent of Starwood shares voted in favor of the cash-and-stock deal, which was valued at $12.41 billion as of Thursday.
China’s Anbang Insurance Group Co last week abandoned its $14 billion offer for StarwoodHotels, clearing the way for Marriott to buy the owner of Sheraton and Westin hotel brands.
Marriott raised the cash portion of its offer to $21 per share on March 21 from $2 per share, valuing the total bid at $73.42 per share as of Thursday.
Marriott said the deal was on track to close mid-2016.
“Our teams continue to plan the integration of our two companies,” Marriott Chief Executive Arne Sorenson said.
The deal has cleared the pre-merger antitrust review in the United States and Canada and awaits approvals in the European Union and China. Read Less
Facebook announced today that it plans to open a new data center in Clonee, Ireland —... Read More
Facebook announced today that it plans to open a new data center in Clonee, Ireland — named EU2 — since it's the second data center in the European Union, after the first in Luela, Sweden.
This new data center is Facebook's sixth overall, reflecting the social network's ever-growing need to build more infrastructure to handle all those photos, videos, and 'likes.'
But there's something different about this one, and it's going to make a lot of big tech companies sit up and take notice.
First off, this data center will run on 100% clean, renewable wind power. Second, and more importantly, EU2 is the first data center from Facebook, and therefore in the world, to be 100% powered by Open Compute Project technology.
The Open Compute Project, or OCP, is an initiative started by Facebook in 2011 to completely change how servers and networking hardware is built to better suit the Internet age. It makes Facebook the unlikely vanguard of a movement to rethink large-scale computing and shake up a $141 billion market.
It's making decades-old companies like Cisco very nervous, as the OCP has the potential to provide the lucrative enterprise market with a cheaper, more flexible alternative to their pricey solutions. Meanwhile, companies like Microsoft have already started to work some of the OCP's concepts into their products.
Now, Facebook is already a customer of companies like Cisco and Arista Networks in its existing data centers, though it's been trying to use OCP-based tech to reduce its reliance. In mid-2015, Facebook said that OCP tech had already saved it $2 billion in operating costs.
With EU2, though, Facebook has at least one data facility that's completely and totally built from scratch using OCP tech. If it works, and there's no reason to think it won't, more will probably follow. And then other companies will likely follow in Facebook's footsteps.
The big hardware companies will definitely be watching with interest. Read Less