Microsoft said today that it agreed to buy ScreenTonic, a European mobile phone advertising company. The companies didn't disclose the financial terms of the deal. Mobile phone advertising is still a young industry compared to Web advertising, but it's a venue being pursued by Microsoft and Web rivals Google and Yahoo.
Texas Instruments said today that it would invest around $1 billion over 10 years in a new test and assembly facility in the Philippines. Texas Instruments was considering other sites in Thailand, Vietnam, and China. The company said the investment was important because it will add capacity to support business growth.
IBM has developed a new process to make computer chips using nanotechnology. The company hopes the breakthrough will help it compete better for chip customers. Last year IBM saw Intel win the contract to supply Apple with microprocessors for its computers.
The U.S. service sector grew at a faster pace last month after dipping to a four-year low in March, a trade group said today. The Institute for Supply Management said its index of business activity in the non-manufacturing sector registered 56 in April, up from 52.4 in March. Despite the growth, businesses are still concerned about fuel and energy costs.