Microsoft to invest $100 million in Rio IT hub

Nov 08, 2012

Microsoft says it is investing $100 million in a new technology center in Rio de Janeiro.

The center is to house an advanced technology laboratory, a research and for the company's Bing search engine, as well as a business incubator aimed at promoting local startups.

It will be housed in an abandoned 18th century building, once Rio's first gas factory, in the city's downtown port, a now shabby district undergoing a vast makeover ahead of the 2016 Olympic Games.

Local officials speaking at a news conference where the project was unveiled on Thursday expressed hopes that Microsoft's investment would mark a turning point in their efforts to transform Rio into an IT hub, much like New York, Chicago, Los Angeles or Berlin.

Explore further: Yahoo profit surges on Alibaba divestment, mobile

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Google to correct map highlighting Rio slums

Apr 26, 2011

Internet giant Google has agreed to redo its online map of Rio de Janeiro within a year after being criticized for giving undue prominence to the Brazilian city's notorious favelas.

Rio declares dengue epidemic

Apr 25, 2012

Rio de Janeiro has declared a dengue epidemic after diagnosing more than 50,000 cases of the tropical mosquito-borne infection this year and over 500 in the last week alone.

Recommended for you

Turner channels removed from Dish amid pact spat

7 hours ago

Channels such as Cartoon Network and CNN are no longer part of Dish's programming lineup as a deadline has passed for the satellite TV provider and Turner Broadcasting to renew their distribution agreement.

Verizon reports higher 3Q net income, revenue

8 hours ago

Verizon Communications Inc. on Tuesday reported higher net income and revenue in its third quarter, helped by strong wireless subscriber growth and demand for its high-speed FiOS Internet services.

Amazon, Simon & Schuster sign book retail deal

17 hours ago

Amazon has reached a deal with American book publisher Simon & Schuster, the companies said, though the e-commerce giant remains at loggerheads with France's Hachette over e-book pricing.

User comments : 0