Lattice stock soars after China's Tsinghua buys stake; GlobeSherpa to change name after merge; and Intel’s new president overhauls management.
The Portland-based chip manufacturer soared 18% after China-based Tsinghua revealed a stake of about 6% in the company.
Tsinghua said in a regulatory filing its stake in Lattice was for "investment purposes," but that it may also enter into discussions with management about a "possible commercial agreement." It added that it could buy more shares or sell its stake.
…[Lattice] shares rose 99 cents to $6.36, giving it a market capitalization of roughly $740 million.
(READ MORE: Reuters)
GlobeSherpa and RideScout have merged to create Moovel North America. The company is based in Portland and has an Austin office.
Under the new organization, the product is called Moovel Transit.
The first evidence of the newly merged capabilities will come in Portland. This spring, the company is beta-testing a new TriMet ticketing app that will offer the ability to hail a Lyft ride or reserve a car2go from within the TriMet app.
(READ MORE: Portland Business Journal)
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Murthy Renduchintala, Intel’s new president, launches a new leadership initiative to accelerate product development.
"Over the last three months I have conducted numerous project reviews with our execution teams, and there is a clear trend that has emerged in these reviews – a lack of product/customer focus in execution that is creating schedule and competitiveness gaps in our products," Venkata "Murthy" Renduchintala wrote last week in a memo to senior Intel management, obtained by The Oregonian/OregonLive.
To address the shortcomings, Renduchintala wrote, he's creating three-person teams of leaders from across Intel's business functions for each of a half-dozen key products, among them forthcoming generations of Intel's primarily microprocessor technologies.
Each of the teams will come together for the duration of product development, then team members will return to their original roles. Renduchintala wrote that he may look outside the company to fill some of these new posts. Eventually, he said, this program will be a model for developing other new products.
(READ MORE: Oregon Live)