THE NEWS WRAP: Square gets a taste for the gourmet with $90 million deal

Mobile payments company Square has acquired food delivery service Caviar.

 

The two companies had reportedly been in talks on a deal worth about $100 million, but the price of the deal is said to be for $90 million in stock.

 

Like many startups Caviar enables customers to order meals online and have them delivered in a short period of time, but it differentiates itself by providing delivery to restaurants that don’t already offer a delivery service.

 

In a statement on the company’s blog, Caviar’s Jason Wan says the team is excited to be joining Square.

 

“Together we’ll double down our mission of delivering premium food through a premium delivery service with no compromises – giving buyers easy access to the food and restaurants they love so much.”

 

Apple hires former Nike exec to lead social media efforts

 

Musa Tariq, the former social media chief for both Nike and Burberry, has been hired by apple, 9to5mac reports.

 

While at Nike, Tariq ran general social media marketing as well as social media partnerships with athletes across all Nike’s product platforms, and led strategy and innovation for social media at Burberry.

 

Are passenger jets at risk of cyber-attack?

 

Cyber security researcher Ruben Santamarta claims he has figured out how to hack the satellite communications equipment on passenger jets through their Wi-Fi and inflight entertainment systems, Reuters reports.

 

If confirmed, it could prompt a review of aircraft security.

 

Overnight

 

The Dow Jones Industrial Average up 75.91 to 16,569.28. The Australian dollar is currently trading at US93 cents.

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