Google cancels Project Loon

Google is saying goodbye to Project Loon, its long-running effort to bring broadband connectivity to rural areas via free-floating balloons. The moonshot project launched in 2013 with a mission to deliver Internet access to "all the world's people" including remote locations on every continent." In a blog posting, Alastair Westgarth, CEO of Loon, said the company simply did not find a way "to get the costs low enough to build a long-term, sustainable...

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Citrix to acquire Wrike for $2.25 billion - SaaS work management software

Citrix Systems agreed to acquire Wrike, a start-up offering SaaS-based collaborative work management tools, for $2.25 billion in cash. Wrike, which is based in San Jose, California, helps teams and distributed workers to plan, manage and efficiently complete work tasks at scale. The company claims 18,000 customers globally. Wrike is expected to have approximately 30 percent stand-alone growth to between $180 million and $190 million in unaudited...

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