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
NCAA to Introduce RFID Technology to Tackle Missing Luggages

Nigeria Civil Aviation Authority (NCAA) has announced plans to introduce Radio Frequency Identification (RFID) baggage tracking technology across domestic and international airport terminals to tackle the growing problem of delayed, misrouted and missing luggages

Michael Achimugu, director, Public Affairs and Consumer Protection, NCAA, disclosed this at a stakeholder engagement forum in Lagos.
Achimugu said the RFID-enabled system would replace the traditional barcode-based baggage tracking framework and provide airlines and passengers with real-time visibility of checked luggage from check-in to final collection.
According to him, the technology would improve baggage traceability, reduce mishandling and strengthen accountability across the baggage-handling chain.
Unlike conventional barcode systems, RFID technology allows baggage to be automatically scanned at multiple points without requiring direct line of sight, enabling real-time tracking of luggage throughout its journey.
Achimugu said issues involving short-landed, missing, lost or damaged baggage had remained among the major complaints from air travellers, alongside flight delays.
He said the introduction of RFID technology was therefore aimed at improving baggage-handling standards and restoring passenger confidence in the aviation sector.
The NCAA said the initiative also aligns with IATA Resolution 753, which requires airlines to track baggage at key points during the passenger journey.
The authority expects the technology to provide more accurate information on the location of luggage, facilitate quicker resolution of baggage-related complaints and improve the overall passenger experience.
The NCAA said the initiative would also strengthen accountability among airlines and other stakeholders involved in baggage handling at Nigerian airports.
News
Firm Urges MSMEs to Increase Digital Payments Adoption for Growth

eTranzact International Plc has called for increased adoption of digital payment solutions among micro, small and medium enterprises (MSMEs), saying access to technology is critical to improving business efficiency, financial inclusion and growth.

The company also said it was deepening its partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to expand digital access and financial literacy among small businesses across the country.
In a statement, the Divisional Head, Merchant Services, eTranzact, Mrs. Abimbola Reis, stated this at the SMEDAN/eTranzact Town Hall Engagement in Lagos recently, themed, “Financial Literacy and Inclusion for MSMEs Leveraging on Fintech Innovation.”
Reis described MSMEs as the backbone of Nigeria’s economy, noting that the sector comprises almost 40 million businesses and contributes significantly to economic growth and job creation.
However, she said many businesses continue to face challenges including limited access to finance, inefficient payment systems, weak financial reporting, cash-flow constraints and inadequate access to digital platforms.
She added that trust concerns also affect businesses’ ability to access finance, while heavy reliance on cash increases exposure to theft and makes payment reconciliation more difficult.
Representing the Director-General of SMEDAN, Prof. Yinka Fisher said the town hall was aimed at generating practical ideas and solutions that would support the growth and expansion of MSMEs.
“The essence of this engagement is to share ideas and concepts that will help MSMEs thrive and expand. Our partnership with eTranzact is about expanding the frontiers of MSMEs and ensuring they continue to grow,” he said.
Also speaking, representative of the Director-General of the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), Dr. Praise Adedigba said businesses could no longer depend solely on hard work to remain competitive.
News
PalmPay Reinforces Commitment to Youth Empowerment on International Youth Day

As the world marks International Youth Day, attention once again turns to the opportunities and challenges facing young people as they prepare for work, financial independence, and adulthood.

In Nigeria, the urgency is clear. According to UNICEF, about 7% of young people aged 15–24 possess basic ICT skills, highlighting a wider gap in the skills required to participate effectively in an increasingly digital economy.
At the same time, the Federal Government, through the Federal Ministry of Youth Development, continues to prioritize skills development, job creation, entrepreneurship and social inclusion.
For PalmPay, youth empowerment goes beyond corporate social responsibility. It is an investment in the people who will shape Nigeria’s workforce, businesses and economy.
This belief is reflected in initiatives focused on financial literacy, employability, digital skills and access to opportunities.
Through its Graduate Trainee Programme, PalmPay provides young graduates with opportunities to gain workplace experience, develop professional skills and build careers in a fast-evolving industry.
The investment also extends to financial education. Through its NYSC Financial Literacy Programme, PalmPay brings practical financial education to young Nigerians at an important transition point, helping Corps members develop better habits around saving, spending, budgeting and protecting their money.
For young women, Purple Woman provides another pathway to economic empowerment, creating opportunities for internships, learning and professional development while supporting greater female participation in the technology sector.
Speaking on the importance of youth empowerment, Chika Nwosu, Managing Director of PalmPay Nigeria, said: “Nigeria’s young population is one of its greatest assets, but unlocking its potential requires access to the right skills, knowledge and opportunities. At PalmPay, we are committed to equipping young Nigerians to learn, earn and thrive in an increasingly digital economy. We believe that investing in young people today is an investment in a stronger, more inclusive Nigeria.”
These initiatives reflect a broader belief that youth empowerment is most meaningful when young people are given the knowledge, exposure and opportunities to apply what they learn.
A graduate given workplace exposure today can become tomorrow’s business leader. A Corps member who develops sound financial habits can carry those lessons into their career and personal life. A young woman given access to professional opportunities can gain the confidence, experience, and networks to create opportunities for others.
Investing in young people is a great strategy for building a stronger, more productive, and more inclusive economy.
This International Youth Day, PalmPay reaffirms its commitment to investing in young Nigerians and contributing to a broader national ambition where the young population is not just counted, but equipped, employed, empowered, and positioned to lead.
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