Welcome to this week’s edition of “The Week in Tech,” where we recap some of the most interesting technology and mobile stories from the past week.
This week we cover YouTube’s impending purchase of Twitch, GoPro filing for IPO, Apple and Google burying the hatchet, and China’s cyber spying ring.
YouTube in Talks to Acquire Twitch
Even if video gaming isn’t a sport, it certainly is big business, as YouTube is in talks to acquire video game streaming site Twitch for $1 billion.
Twitch allows gamers to upload, share and consume live game videos that are streamed online and on game consoles such as Xbox and Playstation. About 45 million people view videos from Twitch each month.
GoPro to Go Public
The acquisition would be the largest for Google-owned YouTube, and while the $1 billion price tag is debatable, Twitch would certainly be a good fit, as video gaming channels are extremely popular among YouTube’s 1 billion users.
Everybody’s favorite action camera maker GoPro has filed to raise $100 million in an IPO.
The company, which manufactures small, high-definition video cameras favored by action sports athletes like snowboarders, surfers and mountain bikers, hopes to buck the trend of delayed or unsuccessful tech IPOs this year. The IPO hopes of Box and Square are fading, and the stock of King Digital, maker of Candy Crush, has performed poorly.
The outcome for GoPro might be different, as the company is profitable and owns over 45% of the camcorder market. Either way, IPOing in this environment is sure to be action-packed. Ha, sorry, I had to write that!
Apple and Google to Dismiss Smartphone Lawsuits
Apple and Google are calling a truce and dismissing all current lawsuits against each other regarding smartphone patents.
Both companies have spent hundreds of millions of dollars battling each other in court over patents for the iOS and Android mobile operating systems, with little to show for it.
If nothing else, this patent war shed some light on how ineffective and dysfunctional the U.S. patent system is. The companies have agreed to work together to push Congress to reform patent litigation laws.
U.S. Charges Chinese Army with Cyberattacks
Cyber security continues to monopolize news headlines, and never in a good way.
The U.S. Justice Department has charged five members of the Chinese People’s Liberation Army for hacking into the networks of Westinghouse Electric, US Steel, and others. The hackers stole secrets, copied emails and infected their computers with malware.
President Obama has been very diplomatic with China on this subject, until now. The Chinese are surely not going to turn the culprits over nor do anything to cooperate. This situation is sure to stir up tensions between the two countries about when spying is legitimate (for national security vs. business competition purposes) and will likely snowball into other huge issues.
Cyber security is a problem that just doesn’t go away.