Menu
Twitter increases top end of IPO price to $25 a share

Twitter increases top end of IPO price to $25 a share

The compnay also reveals that IBM has said that Twitter infringes several patents

Twitter on Monday increased the price of shares in its initial public offering to a range of US$23 to $25 per share and also revealed that IBM has claimed the company has infringed on several patents.

Twitter plans to issue 70 million shares, according to a document filed with the U.S. Securities and Exchange Commission (SEC), which would mean that Twitter could raise $1.75 billion if it sells its shares for the maximum $25 amount. Twitter previously estimated it would sell its shares for between $17 and $20.

Twitter on Monday also updated the risk factors disclosed to the SEC, expanding the intellectual property right threats the company faces, specifically highlighting a claim by IBM.

"From time to time we receive claims from third parties which allege that we have infringed upon their intellectual property rights. In this regard, we recently received a letter from International Business Machines Corporation, or IBM, alleging that we infringe on at least three U.S. patents held by IBM," said Twitter in the filing, adding that IBM has invited Twitter to negotiate a business resolution.

According to IBM, Twitter infringes on a patent that describes a method of providing links to remotely located information in a network of connected computers, as well as a patent that provides a method for presenting advertising in an interactive service. The third patent describes the programmatic discovery of common contacts, according to the filing.

"Based upon our preliminary review of these patents, we believe we have meritorious defenses to IBM's allegations, although there can be no assurance that we will be successful in defending against these allegations or reaching a business resolution that is satisfactory to us," Twitter said.

Twitter is currently involved in a number of intellectual property lawsuits, it said. In addition, because the company faces increasing competition and is gaining an increasingly high profile, it said it expects the number of patent and other intellectual property claims against it to grow.

Loek is Amsterdam Correspondent and covers online privacy, intellectual property, open-source and online payment issues for the IDG News Service. Follow him on Twitter at @loekessers or email tips and comments to loek_essers@idg.com

Follow Us

Join the New Zealand Reseller News newsletter!

Error: Please check your email address.

Tags business issuesIBMSEC Filingstwitter

Slideshows

Top 50 defining moments of the New Zealand channel in 2016

Top 50 defining moments of the New Zealand channel in 2016

Reseller News looks back on a tumultuous 12 months for the New Zealand channel, assessing the fallout from a year of sizeable industry change. Whether it be local or global mergers and acquisitions, distribution deals or job changes, the channel that started the year differs somewhat to the one set to finish it - Reseller News assesses the key moments that made 2016.​

Top 50 defining moments of the New Zealand channel in 2016
​Hewlett Packard Enterprise honours high achieving NZ channel

​Hewlett Packard Enterprise honours high achieving NZ channel

Hewlett Packard Enterprise honoured its top performing Kiwi partners at the second running of its HPE Partner Awards in New Zealand, held at a glitzy ceremony in Auckland. Recognising excellence across eight categories - from distributors to resellers - the tech giant celebrated its first year as a standalone company, following its official split from HP in 2015.

​Hewlett Packard Enterprise honours high achieving NZ channel
Nutanix treats channel partners to Christmas cruise

Nutanix treats channel partners to Christmas cruise

Nutanix recently took to the seas for a Christmas Cruise around Sydney Harbour with its Australia and New Zealand staff, customers and partners to celebrate a stellar year for the vendor. With the sun out, they were all smiles and mingled over drinks and food.

Nutanix treats channel partners to Christmas cruise
Show Comments