San Francisco Chronicle - (Sunday)
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In a week when the Warriors were more beat up than Facebook’s reputation, this also happened: Business software company MapR Technologies signed a letter of intent with a potential buyer and extended the date of a possible shutdown, according to documents filed with the state. The company is continuing to work toward an acquisition, and if it goes through, MapR may not have to shutter its Santa Clara headquarters, according to a letter sent to California’s Employment Development Department from MapR Vice President of Human Resources Cindy Arthur. In the initial WARN notice filed last month, the company said it anticipated closing by June 14 and laying off 122 employees. In the updated documents, it postponed its anticipated closure until between June 19 and July 3.
It was reported that the U.S. dispute with China has landed on the doorstep of
Verizon, with Huawei demanding that the American wireless giant pay licensing fees on hundreds of patents, according to two people briefed on the matter. Huawei, one of China’s largest technology companies and the world’s biggest supplier of networking equipment, accused Verizon in a letter this spring of violating 238 of its patents, the people said. They would speak only on the condition of anonymity because the issue was considered a potential legal dispute.
Some chipmakers ended the week with a brutal Friday. San Jose’s Broadcom, which gets about half its revenue from China, fell 5.6%. Texas Instruments, also very dependent on China, dropped 3.5%.
Immortals Gaming Co. has acquired Infinite Esports in what is believed to be the competitive video gaming industry’s first $100 million deal. The deal lets IGC expand its stable of esports teams by purchasing the parent company for OpTic Gaming. OpTic’s franchises include teams in the League of Legends Championship Series and Overwatch League.
Quicken Loans agreed to pay $32.5 million to settle a lawsuit that accused the company of fraudulently sticking the government with bad mortgages. The government had accused Quicken of cutting corners when verifying the income of certain borrowers.