Crain’s NY

Cemtrex closes in on key VR software acquisition

By GREGORY ZELLER // Reality check: A Farmingdale-based tech firm is reinforcing a lucrative virtual vertical with a big push into VR. International tech manufacturer and distributor Cemtrex Inc. announced Monday that it has signed a letter of intent to acquire a New York City-based virtual-reality software-development firm. While it has revealed some clues as to the target company’s identity – it was founded in 2010, employs more than 30 programmers and boasts annual sales…


Report: Armstrong will head Verizon bid for Yahoo

Verizon Communications has reportedly tapped Tim Armstrong, chief executive of its AOL unit, to head a possible bid for Yahoo’s assets. Verizon has expressed interest in the troubled firm for months as Yahoo CEO Marissa Mayer has announced staff cuts and expressed on-and-off interest in selling the company, in whole or part. Crain’s NY, quoting unidentified people with knowledge of Verizon’s internal moves, said Armstrong has known Mayer for years, when both were Google executives…