News
13 Biggest Tech Acquisitions of 2016 Valued Over $613Bn

Generally, 2016 was busy for the IT/telecoms market, as the world witnessed some mergers and acquisitions.
At the home front, Thursday, January 7, 2016, MTN Nigeria completed the acquisition of Visafone, the only surviving Code Division Multiple Access (CDMA) network in Nigeria’s telecommunications industry.
Nigeria CommunicationsWeek chronicles other acquisitions that will further shape the IT industry across even at the global market.
The year resulted in $612.9 billion in global tech deals, according to Dealogic, which made it the second best year for acquisitions. It nearly kept up the pace of record-setting 2015, where the market recorded $691.4 billion in tech transactions across the world.
So what were the biggest deals of 2016? These were the top 13:
MTN Acquires Visafone
MTN Nigeria on Thursday, January 7, 2016 announced the acquisition of Visafone, the only surviving Code Division Multiple Access (CDMA) network in Nigeria’s telecommunications industry. The acquisition of Visafone was in line with a continued commitment by MTN to improve the quality of broadband services for its subscribers.
The acquisition, which sought to leverage resources for service enhancement, according to MTN, was also reflective of the company’s concerted efforts to deepen the growth and roll out of broadband services across the country. The amount was undisclosed.
Interswitch Acquires Vanso
In a move that further sealed its place as a payments master in the African continent, Interswitch acquired Vanso for a total value of ₦15 billion (in stock and cash) which amounted to about $50 million.
Qualcomm Buys NXP Semiconductors
Qualcomm wasn’t messing around when it announced that it would pay $47 billion for NXP Semiconductors. Slowed smartphone growth was what inspired Qualcomm to make a bid for the biggest chip supplier in the automotive field. The deal was the largest in the chip industry’s history.
Softbank Buys ARM Holdings
$31.6 billion is what it cost Softbank to acquire chip designer ARM Holdings. The UK-based company is a big force in mobile technology and its microprocessors are used in phones from Samsung and Apple. But Softbank said it was their Internet of Things business that excited them the most.
Microsoft Buys LinkedIn
$26.2 billion is what Microsoft paid to have the professional social network join its ranks. LinkedIn’s stock struggled earlier in the year after it neglected to meet investors’ sky-high expectations and Microsoft recognized this as a good time to make an offer. They’re hoping that there will be synergies with Microsoft’s other enterprise businesses.
Analog Buys Linear Technology
Chipmakers dominated the mega mergers space and Linear Technology is set to be acquired for $14.8 billion. The two will form a joint effort in making analog chips, which process things like light and sound and convert them into electronic signals. The deal will also help Analog compete with Texas Instruments, the biggest analog chip vender.
Quintiles Transactional Buys IMS Health
Quintiles Transactional paid $14.7 billion (including debt) to acquire healthcare technology provider IMS Health. The Connecticut-based data company analyzes electronic records and sells the insights to drugmakers. The two businesses will combine forces to aid in research and data services for the pharmaceutical industry.
Oracle Buys NetSuite
Oracle paid $9.5 billion to buy NetSuite, an attempt to boost its enterprise cloud offerings. NetSuite helps businesses manage a variety of services, including accounting, e-commerce and customer relations. Oracle has been slow to develop Internet-based tools and is hoping that the acquisition will accelerate their growth in this category.
Samsung Buys Harman
Samsung Electronics announced in November that it would pay $8.9 billion (including debt) for Harman International Industries. The goal is to boost Samsung’s automotive technology, where Harman has been innovative. In addition to its popular speakers, Harman has developed navigation systems for connected cars.
Mico Focus Buys Hewlett Packard Enterprise (software)
In 2015, Hewlett-Packard split into two companies. And in 2016, HP divided up even more. UK-based Micro Focus unveiled its plans to buy the software assets of HPE for $8.8 billion. Through the deal, the enterprise software company will be inheriting HPE’s big data and security businesses.
Tencent Buys (most of) Supercell
Tencent paid $8.6 billion for 84% of Supercell. The Chinese investment company bought a controlling stake in the Finnish maker of hit games like Clash of Clans, betting that it will continue to recreate this viral success. The deal valued Supercell above $10 billion.
Computer Sciences Corp (CSC) Buys HPE (enterprise services)
Another chunk of HP’s business got separated in 2016. Computer Sciences Corp (CSC) is paying $8.3 billion (including debt) for its IT services business. HPE shareholders will still own 50% of the merged companies.
Didi Chuxing Buys Uber China
After a bitter rivalry, few expected Uber to throw in the towel on its Chinese business and sell to Didi. But $7 billion was what it took for Uber to walk away and focus on the parts of the world where it excels. Many suspect that Uber did this to clean up its balance sheet ahead of an eventual IPO.
News
UK Minister for Africa Visits Nigeria to Deepen Strategic Partnership

The United Kingdom’s Minister for Africa, Lord Collins of Highbury, has concluded a three-day visit to Nigeria, aimed at reinforcing the UK-Nigeria Strategic Partnership.
He reaffirmed the UK Government’s strong commitment to deepening trade and investment ties between the United Kingdom and Nigeria.
During his visit, Lord Collins met with senior Nigerian government officials, business leaders, civil society representatives and United Nations agencies.
These engagements underlined the UK’s long-term drive to support Nigeria’s prosperity and stability while deepening bilateral cooperation for transformative growth across our shared priorities.
A key highlight of the visit was Lord Collin’s bilateral meeting with Nigeria’s Minister of Foreign Affairs, Yusuf Tuggar, in which both parties reaffirmed their unwavering commitment to strengthening economic ties and promoting regional security. The Minister was joined by the UK’s Trade Envoy to Nigeria, Florence Eshalomi MP.
Lord Collins also met with Deputy Speaker of the House of Representatives, Hon. Benjamin Kalu, and discussions focused on opportunities to strengthen engagement between UK’s parliament and Nigeria’s National Assembly and the importance of furthering women’s participation in politics.
Speaking on his visit, the UK Government’s Minister for Africa, Lord Collins said: “Nigeria and the UK share a rich, ambitious relationship: one that is deeply rooted in respect.
“Our Strategic Partnership is at the forefront of this, and my visit has focused on how our countries can continue deepening our cooperation on key issues such as trade and investment to drive economic growth and deliver prosperity for us all.”
The Minister held discussions with United Nations representatives on the ongoing reform of the UN system, its implications for Nigeria and how the reform can effectively support those most in need, particularly in Northeast Nigeria, whilst also contributing to global humanitarian efforts.
Lord Collins also met with civil society leaders to discuss electoral integrity and governance reforms, reinforcing the UK’s commitment to democratic values and community empowerment.
He later visited Nigeria’s Anti-Kidnap Fusion Cell: a key security initiative supported by UK expertise through the National Crime Agency and the Integrated Security Fund, which plays a vital role in enhancing local safety and combating serious crime.
Also commenting on the visit, the British High Commissioner to Nigeria, Dr Richard Montgomery, said: “Driving growth is central to the UK’s foreign and development policy. Lord Collins’ visit to Nigeria underscores the UK’s unwavering commitment to deepening our shared prosperity through expanded trade and investment. We are proud to stand alongside Nigeria as it forges a resilient and dynamic economy.”
This visit underscores the UK’s enduring partnership with Nigeria – built on mutual respect, shared goals, and a vision for a prosperous future for both nations.
News
PalmPay Launches CSR Initiatives to Empower Women, Foster Financial Literacy in Northern Nigeria

In a strategic move to expand financial inclusion in Nigeria, leading mobile banking platform, PalmPay has launched a series of CSR programs across Kano and Kaduna. The CSR initiative named “Passing the Baton” represents the brand’s commitment to passing on knowledge and providing the resources individuals and businesses need to achieve financial independence and drive economic empowerment.
This initiative is a bold move by PalmPay to bridge the opportunity gap in the North by providing financial literacy training and micro-business branding support to 5,000 women-owned businesses in Kano and Kaduna. This strategic initiative reaffirms PalmPay’s commitment to inclusive development and economic empowerment, particularly in underserved regions.
“At PalmPay, we believe that real financial inclusion must be far reaching and cover the grassroots,” said Chika Nwosu, Managing Director of PalmPay. “Our new CSR program is focused on supporting gender equity by equipping women with the knowledge, tools, and visibility they need to thrive as entrepreneurs in their communities.”
Through this initiative, beneficiaries will receive free health insurance, hands-on training workshops, enhanced store branding to boost visibility, and branded merchandise to strengthen their business presence.
The initiative is part of PalmPay’s broader strategy to extend its innovative solutions, expand its footprint in Northern Nigeria, while building sustainable partnerships with local stakeholders for long-term impact.
In a show of support, His Royal Highness, the Emir of Kano, Dr. Muhammadu Sanusi II, has endorsed the initiative, calling on other stakeholders to join forces with PalmPay in ensuring the North benefits fully from the growing digital economy. PalmPay has received commendation from community stakeholders, as the initiative aims to serve as a model for similar projects across other northern states.
As PalmPay continues to scale across Nigeria, the company remains committed to bridging the financial inclusion gap and empowering underserved groups, particularly women and youth, through its innovative solutions and impact initiatives.
News
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