AWS to Open Data Centers in UAE

 New cloud infrastructure region to launch in first half of 2022, allowing customers to run workloads and store data locally while serving end-users with even lower latency

SEATTLE-Monday 31 May 2021 [ AETOS Wire ]

(BUSINESS WIRE)-- Today, Amazon Web Services (AWS), an Amazon.com company (NASDAQ: AMZN), announced that it plans to open an infrastructure region in the United Arab Emirates (UAE) in the first half of 2022. The new AWS Middle East (UAE) Region will consist of three Availability Zones and become AWS’s second region in the Middle East with the existing AWS Region in Bahrain, giving customers more choice and flexibility to leverage advanced technologies from the world’s leading cloud. Globally, AWS has 80 Availability Zones across 25 geographic regions, with plans to launch 18 more Availability Zones and six more AWS Regions in Australia, India, Indonesia, Spain, Switzerland, and the United Arab Emirates. For more information on AWS’s global infrastructure, go to: https://aws.amazon.com/about-aws/global-infrastructure/.

“We are excited to build on the great momentum of cloud adoption in the Middle East by providing more choice for customers in the UAE to run applications and store data locally,” said Peter DeSantis, Senior Vice President of Global Infrastructure, AWS. “The new AWS Region supports the UAE’s focus on promoting technology innovation that has made it a thriving global hub for entrepreneurs, e-governments, and multi-national businesses. With the new region, organizations of all sizes will be able to innovate faster and serve end-users with even lower latency across the region.”

His Excellency Mohammed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development, said, “AWS's expansion into the UAE is a testament to our rapidly growing innovation ecosystem that will benefit from access to the world's leading cloud platform and its advanced technologies and solutions. Building on Abu Dhabi's smart infrastructure and digital transformation, AWS’s investment will further enable innovators and companies with globally-relevant solutions to realize new opportunities in the UAE and beyond.”

AWS Regions are comprised of Availability Zones, which place infrastructure in separate and distinct geographic locations with enough distance to significantly reduce the risk of a single event impacting customers’ business continuity, yet near enough to provide low latency for high availability applications that leverage multiple Availability Zones. Each Availability Zone has independent power, cooling, and physical security and is connected through redundant, ultra-low-latency networks. AWS customers focused on high availability can design their applications to run in multiple Availability Zones and across multiple regions to achieve even greater fault tolerance. The addition of the AWS Middle East (UAE) Region will enable local customers with data residency requirements to store their data in the UAE while also providing even lower latency across the country. Organizations using this region will also be able to access advanced technologies from the broadest and deepest suite of cloud services to drive innovation including compute, storage, networking, database, analytics, machine learning, Internet of Things (IoT), mobile services and more.

His Excellency Dr. Tariq Bin Hendi, Director General of the Abu Dhabi Investment Office (ADIO), said, “We welcome the upcoming AWS Region, which will bring advanced cloud infrastructure to the UAE. This comes in line with our goal of attracting investments that boost technology capabilities. It is another example of the growing partnership between the public and private sectors in the emirate aimed to accelerate breakthroughs and advance large-scale digital transformation, strengthening Abu Dhabi’s position as a global hub for innovation. We look forward to collaborating with AWS across the knowledge economy, including education initiatives, cloud skills training, and startup enablement programs.”

Customers and AWS Partners welcome the news of the AWS Middle East (UAE) Region

Millions of active customers are using AWS each month in over 190 countries around the world, including tens of thousands of customers in the Middle East and North Africa (MENA). Enterprises choose AWS to become more agile and innovative, and include Al Tayer Group, Aramex, AXA Gulf, Axiom Telecom, Emirates NBD, Flydubai, Gulf News, MBC Group, OSN, Seera Group, Virgin Middle East, and many more. MENA public sector organizations are using AWS to drive cost savings, accelerate innovation, and better serve the citizens of the region. They include the Communications and Information Technology Regulatory Authority of Kuwait (CITRA), Dubai Expo 2020, Egypt Ministry of Communications and Information Technology, Government of Bahrain’s Ministries, Hamdan Bin Mohammed Smart University, University of Bahrain, and many more. MENA startups building their businesses on top of AWS to scale rapidly and expand around the world include Alef Education, Anghami, Careem, Dubizzle, EKar, Fetchr, Haraj, Health at Hand, Maestro Pizza, Mawdoo3.com, Property Finder, Sarwa, Souqalmal, StarzPlay, and Yallacompare.

AWS customers welcomed the news of the AWS Region in UAE, including global customers who will be able to leverage the region to serve new audiences, such as Salesforce, the global customer relationship management (CRM) leader. “Salesforce is powering digital transformations for our global customer base that require the modern enterprise features of AWS,” said Srinivas Tallapragada, President and Chief Engineering Officer of Salesforce. “We’re excited to partner with Amazon and bring our trusted platform to new markets, empowering customers to succeed from anywhere by leveraging Hyperforce and all the advantages of public cloud computing.”

First Abu Dhabi Bank (FAB) is the UAE’s largest bank with total assets of AED 955 billion (USD $260 billion) and one of the strongest combined ratings of any bank in the Middle East and North Africa region. “Our cloud approach has been one of the fundamental principles of our technology strategy since the beginning of last year. We have been using AWS Outposts for both development and test and production workloads,” said Yuri Misnik, Chief Technology Officer, FAB. “This has accelerated our digital transformation in the cloud and on-premises with 50% improved time-to-market. We have also seen 60% increased developer and infrastructure team productivity by leveraging the same infrastructure, services, APIs, and tools across the cloud and on-premises. We welcome the upcoming AWS Region in the UAE, which will help us realize our cloud ambitions effectively and securely while being fully compliant with local regulation.”

In February, Mohammed Bin Rashid Space Centre (MBRSC) successfully launched the Hope Probe, the first interplanetary mission for the UAE. AWS is powering the data journey of the mission, enabling data to be processed and analyzed from the probe’s instruments and accessed by the global scientific community in less than 20 minutes. “The Mohammed Bin Rashid Space Centre has always sought to provide innovative solutions that benefit the scientific community. Through our projects, we are playing an important role in global space exploration, and AWS cloud technology has been instrumental in powering many of these capabilities,” said Salem AlMarri, Assistant Director General for Scientific and Technical Affairs, MBRSC. “MBRSC has always supported collaborations with private companies to encourage investments in the UAE’s space sector, further Arab achievements in this field, and keep pace with the progressive approach undertaken by some of the most technologically and scientifically developed nations.”

Majid Al Futtaim is the leading shopping mall, communities, retail and leisure pioneer across the Middle East, Africa, and Central Asia. “We started our digital transformation several years ago, recognizing that to remain ahead of the curve, we would need a dedicated focus on data. AWS has enabled us to build a centralized data management platform, helping to enhance our performance by connecting our operations and customer base through a single source of data across the company’s different businesses,” said Guillaume Thfoin, Head of Data and Analytics for Majid Al Futtaim Holding. “Leveraging advanced analytics and machine learning services such as Amazon SageMaker, we have used predictive models to arrive at new insights that drive performance improvements and an enhanced customer experience. The new platform has helped us become more agile, and a recent case study on our data transformation uncovered an improvement in go-to-market speed by 80%, as well as contributed to multimillion-dollar cost savings projected over the next five years. We look forward to the arrival of an AWS Region next year which will add to the potential of our AWS platform, while ensuring compliance with upcoming regulatory requirements.”

GE Healthcare is a leading global medical technology, diagnostics, and digital solutions innovator. Every year, two billion diagnostic scans are performed on GEHC equipment worldwide. “As the UAE looks to grow as a key global hub for healthcare, the upcoming AWS Region is going to have a significant impact on increasing the pace of innovation in the industry,” said Summer Nasief, General Manager, GE Healthcare Digital. “GE Healthcare’s own Edison Health Services platform, one of the largest artificial intelligence platforms in healthcare built to connect data from millions of imaging devices, uses Amazon SageMaker to build, train, and deploy machine learning algorithms across a wide portfolio of intelligent devices and enterprise software applications. With the new AWS Region, a larger ecosystem of regional developers and providers can take advantage of the Edison platform to aggregate and analyze data securely to create prediction models for the population that will help manage clinical outcomes proactively, establish personalized patient care, and lower the cost of care.”

Anghami is the leading music steaming platform in the MENA region, with more than 70 million users who have instant access to over 57 million songs. “We've hosted our infrastructure on AWS since pretty much day one and have grown from a tiny startup with big dreams to the number one streaming platform in the Middle East,” said Raja Baz, Deputy CTO at Anghami. “Building on AWS enables us to deliver a reliable service with the flexibility to cope with as much as 300 percent increased traffic when new music is launched. It also frees us to innovate and expand beyond audio to other forms of entertainment like video, which has grown to over 50,000 daily streams. This is something that would have never been possible without the support of AWS, and today we are heading toward our next phase of growth with a listing on the NASDAQ, becoming the first Arab tech company to do so. AWS’s continued investment in the region is a testament to the potential we have here. We recently moved our headquarters and research and development center to Abu Dhabi to benefit from its rapidly growing innovation hub, and with the new AWS Region, we are excited to see it thrive at an accelerated rate.”

Established in 2002 in Dubai under the presidency of H.H. Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, the Crown Prince of Dubai, Hamdan Bin Mohammed Smart University (HBMSU) is the UAE’s first accredited Smart University. “Last year, HBMSU successfully completed the full migration of our systems and applications from on-premises data centers to AWS, which provided immediate benefits including security, scalability, flexibility, and direct cost savings of up to 30%,” said Dr. Mansoor Al Awar, HBMSU Chancellor. “We have always understood the power of cloud computing in advancing higher education, and the upcoming AWS Region in the UAE is a valuable asset for the local education sector. It will also support HBMSU’s expansion plans and the ability to respond to the demand for our unique model of smart learning in other markets in the Middle East and Africa.”

Sarwa is an investment and personal finance platform that combines innovative technology and human expertise to make investing easy and affordable to everyone. “Sarwa was born on the AWS Cloud in 2017 and has grown four times over in the last year alone, processing hundreds of thousands of transactions,” said Nadine Mezher, Co-Founder and CMO of Sarwa. “With AWS, we are able to innovate at a fast rate to help everyone in this region grow their wealth and invest in companies they believe in. We recently released the Sarwa App that went from design to market in three months, and we just launched the Sarwa Trade waitlist with a beta platform planned to be released in a six-month timeframe. The news of an upcoming AWS Region in the UAE is very exciting and will be an important milestone in supporting the growth of the FinTech sector in the UAE.”

Middle East-based AWS Partner Network (APN) Partners also welcomed the news of the planned AWS Middle East (UAE) Region. The APN includes tens of thousands of Independent Software Vendors (ISVs) and Systems Integrators (SIs) around the world. AWS Partners build innovative solutions and services on AWS, and the APN helps by providing business, technical, marketing, and go-to-market support. APN SIs, ISVs, and consulting partners in the Middle East help enterprise and public sector customers migrate to AWS, deploy mission-critical applications, and provide a full range of monitoring, automation, and management services for customers' AWS environments. Examples of AWS Middle East Partners include Accenture, Deloitte, Bespin Global MEA, Citrus Consulting, Cloud4c, Crayon, Du, Etisalat, F5, Integra Technologies, Keplerworx, Palo Alto Networks, Rackspace, Redington, SAP, Splunk, TCS, Trend Micro, VMWare, Wipro, and Zero & One.

Deloitte is an AWS Premier Consulting Partner and a strategic global systems integrator. Through a strategic collaboration, AWS and Deloitte empower customers to transform their business and innovate faster by combining AWS technologies with Deloitte’s deep industry experience. Richard Hurley, Clients and Industries Leader from Deloitte Middle East Consulting, said, “The UAE’s digital transformation drive is clear and well in motion, both for private enterprise and public sector organizations. We expect that having an AWS Region in the UAE is going to significantly accelerate cloud migration and application modernization that will have meaningful economic impact. The new region will help Deloitte further meet the needs of our UAE customers across many industries—including digital banking platforms, smart factories, and converged health—seeking to digitally transform, requiring reliable and secure infrastructure with the ability to process data locally.”

Supporting startups, skills, and students

The new AWS Middle East Region (UAE) Region will build upon AWS’s existing investment in the country, which includes two AWS Direct Connect locations and two Amazon CloudFront edge locations launched in 2018. AWS also continues to build teams of account managers, technical account managers, partner managers, systems engineers, solutions architects, professional services, and more roles to help customers of all sizes move to AWS. In addition to infrastructure, AWS continues to make investments in education initiatives, training, and start-up enablement programs to support the UAE’s digital transformation and economic development plans. To foster entrepreneurship and the growth of new businesses in the UAE, AWS will be further expanding the AWS Activate program to support the UAE’s startups and SMBs. Through the AWS Training and Certification programs, AWS will also work with government entities to support the up-skilling and re-training of the workforce with the latest cloud computing training curriculum. For students and educators, AWS will provide higher education institutions and their educators with cloud computing courses to prepare students to pursue industry-recognized certifications and careers in cloud computing.

About Amazon Web Services

For over 15 years, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS has been continually expanding its services to support virtually any cloud workload, and it now has more than 200 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, virtual and augmented reality (VR and AR), media, and application development, deployment, and management from 80 Availability Zones within 25 geographic regions, with announced plans for 18 more Availability Zones and six more AWS Regions in Australia, India, Indonesia, Spain, Switzerland, and the United Arab Emirates. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit aws.amazon.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210525006052/en/

Contacts

Amazon.com, Inc.

Media Hotline

Amazon-pr@amazon.com

www.amazon.com/pr

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Experian Partners With Microsoft to Help Global Businesses Prosper in a Data-Driven World

People set to benefit as organisations get quick, efficient, and easy access to cutting-edge technology in the cloud

LONDON-Monday 31 May 2021 [ AETOS Wire ]

(BUSINESS WIRE)-- Experian have today announced a new partnership with Microsoft which will help organisations globally make more informed, intelligent decisions with their data and deliver better outcomes for their customers.

The partnership will support more organisations looking to improve the quality of their data, allowing them to use it more effectively and turn it into actionable insight.

Organisations now have quick, efficient, and easy access to a range of Experian data solutions through Microsoft’s AppSource and Azure Marketplace - the online application stores that provides a tailored catalogue of certified, cloud-based business solutions.

The development comes at a time when the importance of cloud hosted solutions has been further emphasised by the Covid-19 pandemic and the acceleration of digital transformation projects.

Business users globally can access Experian’s Aperture Data Studio as well as real-time address, email and phone validation APIs through Microsoft Azure and Microsoft AppSource marketplaces.

The availability of Aperture Data Studio in Azure Marketplace allows new and existing Microsoft Azure clients to access the product under a BYOL (bring your own license) model. Whilst Experian’s real-time validation APIs can be seamlessly integrated into Microsoft’s suite of business applications to help customers better manage the customer contact data entering their organisations.

Financial service providers in the UK will also be able to take advantage of the latest innovations in open data, which can help their customers successfully manage their money. This is available through Microsoft Azure.

Experian’s Open Data Platform underpins more than 180 million API requests a month and is currently being used by over 200 organisations. The technology has allowed credit card and auto finance providers, rental property agencies, mortgage lenders and gaming companies to better assess whether services are affordable for their customers.

Andrew Abraham, Managing Director of Experian’s Global Data Quality division, said: “Having accurate, complete, valid and well managed data is essential for businesses to deliver better outcomes for their customers. The publication of Experian’s suite of products provides access to the solutions that can really help them achieve this and unlock the many opportunities that data can bring.”

Jake Zaborowski, General Manager, Microsoft Azure Platform at Microsoft Corp., said: “We’re pleased to welcome Experian to the Microsoft Azure Marketplace, which gives our partners great exposure to cloud customers around the globe. Azure Marketplace offers world-class quality experiences from global trusted partners with solutions tested to work seamlessly with Azure.”

The marketplaces are the go-to for Microsoft customers worldwide to discover, evaluate, and request further information about certified solutions. Experian’s presence on these platforms ensures that the company’s data solutions fit seamlessly into Microsoft’s ecosystem of business applications and further strengthens their status as a Microsoft Gold Partner.

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence.

We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 17,800 people operating across 44 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526006135/en/

---

Contacts

Joe Green, PR Manager, Corporate & Business, UK&I, Experian
Tel: 07812 737 768 / Email: joseph.green@experian.com

Brands2Life for Experian
experian@brands2life.com

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Esri’s ArcGIS Platform Chosen by Relive to Scale Development

 Outdoor Activity App Integrates Esri Platform as a Service



REDLANDS, Calif.-Monday 31 May 2021 [ AETOS Wire ]

(BUSINESS WIRE)-- Esri, the global leader in location intelligence, announced today that Relive, a company which developed an app that chronicles outdoor adventures and journeys by letting users relive those moments, is among the latest to shift to ArcGIS Platform, Esri's new platform as a service (PaaS).

It's a move that more closely fits the needs of the Netherlands-based startup. Relive can buy just what it needs to build and support its app—Esri's World Imagery and World Elevation services as well as use ArcGIS API for JavaScript for extra features. Relive can also continue to scale up with Esri's support as it grows its user base exponentially.

"We're excited to collaborate with Esri to continue providing a world-class outdoor app for our users," said Joris Van Kruijssen, COO and cofounder of Relive. "As a technology startup focused on innovation, it's key for our success to be able to develop and combine different technologies to deliver an ideal user experience. ArcGIS Platform fits this perfectly, and Esri has been of great support for our unique use case."

Relive, an app for Apple and Android phones, was launched by Van Kruijssen along with Lex Daniels and Yousef El-Dardiry in 2016 after the friends had gone on a cycling trip to Spain. Realizing existing apps that tracked their journey only recorded clinical metrics like distance and health, the trio wanted one that could let them easily tell a story they could share with friends and family.

The creators of Relive wanted to keep the technological investments they had made early on when building their app's infrastructure, choosing the right piece of the puzzle for each need as the company grew, without restrictive licensing agreements dictating who would provide what tools. The startup was already working with preferred providers for other needs and had a third-party API but needed high-quality maps and topographical images of the world to chart its users' paths anywhere on the globe, ultimately choosing Esri's rich geographic imagery.

In the app, an animated video shows a moving line tracing a person's route through 3D streets and mountains, marking the time and distance and any stops for photos along the way and revealing the images like a vacation slide show. More than 10 million people now use Relive, and the company's leaders aim to grow this number to 100 million in the coming years.

To learn more about Esri's ArcGIS Platform, visit go.esri.com/Platform-Learn-More.

About Esri

Esri, the global market leader in geographic information system (GIS) software, location intelligence, and mapping, helps customers unlock the full potential of data to improve operational and business results. Founded in 1969 in Redlands, California, USA, Esri software is deployed in more than 350,000 organizations globally and in over 200,000 institutions in the Americas, Asia and the Pacific, Europe, Africa, and the Middle East, including Fortune 500 companies, government agencies, nonprofits, and universities. Esri has regional offices, international distributors, and partners providing local support in over 100 countries on six continents. With its pioneering commitment to geospatial information technology, Esri engineers the most innovative solutions for digital transformation, the Internet of Things (IoT), and advanced analytics. Visit us at esri.com.

Copyright © 2021 Esri. All rights reserved. Esri, the Esri globe logo, ArcGIS, The Science of Where, esri.com, and @esri.com are trademarks, service marks, or registered marks of Esri in the United States, the European Community, or certain other jurisdictions. Other companies and products or services mentioned herein may be trademarks, service marks, or registered marks of their respective mark owners.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005588/en/

Contacts

Jo Ann Pruchniewski
Public Relations, Esri
Mobile: 301-693-2643
Email: jpruchniewski@esri.com

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Titomic & Néos to Manufacture Invar36 Faceplates in the UK

 MELBOURNE, Australia-Monday 12 April 2021 [ AETOS Wire ]

(BUSINESS WIRE)-- Titomic has signed a Heads of Agreement with Neos International Limited to form a joint venture in the United Kingdom which will manufacture and sell Invar 36 Faceplates and multi-metal product solutions for the Aerospace, Defence, Automotive and Nuclear industries. The products will be manufactured using Titomic’s Kinetic Fusion (TKF) Technology and Neos’ specialist engineering and tooling expertise.

The Neos Titomic joint venture will enhance the rapid delivery of Invar and Nickel Shell Tooling and related products to the Aerospace and other vital sectors. The rapid delivery of TKF manufactured tools will assist in the uptake of next generation carbon fibre composite technologies, critical for the production of lightweight fuel-efficient aircraft and equipment to support the UK’s Aircraft and Space Industries.

This joint venture will ensure the high-rate production of mould tools, nickel tools and Defence solutions across the UK supply chain, supporting the UK’s position on next-generation aircraft.

Aircraft manufacturers routinely experience extremely long lead times for tooling required to manufacture carbon fibre parts, caused by limitations of cast and wrought manufacturing. To assist industry in meeting this demand, Titomic has undertaken two years of extensive R&D to validate TKF manufacturing for tooling. This work has culminated in an effective manufacturing process and a commercial relationship with Neos to bring the technology to the UK.

Traditionally, Invar tooling is manufactured by machining billets or casting, which results in up to 90% material wastage or porous tools, respectively. The TKF process addresses these challenges by manufacturing near-net-shape faceplates requiring only 10-20% of material to be machined away to create a finished faceplate in a substantially shorter time. With only 0.5% porosity, these tools exceed all vacuum leak testing standards for aerospace carbon fibre moulding.

With these benefits, clients reduce costs, lead times, and waste thus improving overall productivity.

This joint venture highlights Titomic’s growth strategies, ensuring that the TKF technology adds value and capability to industries around the world.

About NÉOS International Limited:

NÉOS International Limited is a UK headquartered engineering group, supporting many of the world’s leading OEM’s by providing innovative solutions from multiple technology centre’s within the UK, Portugal and India. Please visit: www.neosintl.com

About TITOMIC Limited:

For more information please visit: www.titomic.com .

View source version on businesswire.com: https://www.businesswire.com/news/home/20210412005033/en/

Contacts

Dominic Parsonson

Titomic Limited

Email: info@titomic.com

Phone: +61 (0)484 621 756

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Lenovo Group: Full Year Financial Results 2020/21

 Lenovo delivers record fourth quarter results and new fiscal year milestone - Surges past US$60 billion revenue mark, with record annual profits

HONG KONG-Sunday 30 May 2021 [ AETOS Wire ]

(BUSINESS WIRE) -- Lenovo Group (HKSE: 992) (PINK SHEETS: LNVGY) today announced record results for the Group for both its fourth quarter and fiscal year, with phenomenal growth across all parts of the business. The results demonstrate the Group’s resilience and ability to achieve balanced, consistent, and sustainable growth as it continues to diversify and transform in line with its 3S (Smart IoT, Smart Infrastructure, Smart Solutions) corporate strategy.

Fourth quarter Group revenue grew at 48% year-to-year to US$15.6 billion. Profit recorded its highest growth rate in two years – with pre-tax income of US$380 million and net income of US$260 million – up 392% and 512% respectively. The Q4 results closed out a record year, with annual Group revenue surging past US$60 billion, adding more than US$10 billion on the previous fiscal year. Profit grew even faster, with pre-tax income of almost US$1.8 billion and net income of US$1.2 billion – both up more than 70% year-on-year.

Lenovo’s Board of Directors declared a final dividend of 3.09 US cents or 24 HK cents per share for the fiscal year ended March 31, 2021.

Financial Highlights:

 

 

FY 20/21

US$ millions

 

FY 19/20

US$ millions

 

Change

 

Q4 20/21

US$ millions

 

Q4 19/20

US$ millions

 

Change

Group Revenue

 

60,742

 

50,716

 

20%

15,630

 

10,579

 

48%

Pre-tax income

 

1,774

 

1,018

 

74%

380

 

77

 

392%

Net Income

(profit attributable to equity holders)

 

1,178

 

665

 

77%

260

 

43

 

512%

 

 

Basic earnings per share (US cents)

 

9.54

 

5.58

 

3.96

2.19

 

0.36

 

1.83

Chairman and CEO quote – Yuanqing Yang:

“Last quarter, we delivered our fastest growing quarter in almost a decade and closed the fiscal year with the new milestone of passing US$60 billion in revenue and significant growth in profit to a new record. These historic highs were achieved by leveraging our core competencies of a clear strategy, innovative products, operational excellence, and global-local model to meet the new needs in the New Normal.” said Yuanqing Yang, Lenovo Chairman and CEO. “Looking forward, we will capture the huge growth opportunities created by the market trends of information consumption upgrade, infrastructure upgrade and application upgrade to drive long-term sustainable growth and ensure we can build an even smarter future in the years ahead.”

Fourth quarter record driven by simultaneous double-digit revenue growth across all core businesses

Best fourth quarter ever for PC and Smart Devices (PCSD) with US$12.4 billion in revenue, up 46% year-on-year and profitability at an all-time high of 6.7%.

All geographies realized high double-digit growth in PCSD revenue and PC volume outgrew the market – further strengthening the company’s global #1 ranking in PCs.

Tablets had a breakthrough quarter, with shipments growing 157% year-on-year – around three times as fast as the market.

High growth and premium segment volumes (Gaming, Thin & Light, Chromebooks, Visuals) continue to outgrow the market and deliver strong double to triple-digit growth rates.

Revenue from the Mobile Business Group (MBG) achieved hyper-growth, up 86% year-on-year to US$1.54 billion – achieving pre-tax income of US$21 million – a record high since the Motorola acquisition.

Expanded carrier relationships and a strong product portfolio, including 5G products, saw smartphone volumes grow at triple digit rate in North America, Europe, and Asia Pacific.

Smartphone market share in our Latin America stronghold reached a record of nearly 21%.

Revenue for the Data Center Group (DCG) was strong, growing 32% year-on-year to US$1.6 billion, the fifth straight quarter of premium-to-market growth. Profitability improved 4.4 points year-on-year.

The Cloud Service Provider business grew 73% year-on-year and at a 61-point premium to the market.

Record high fourth quarter revenue was achieved for Server, Storage, Software Defined Infrastructure, Software, and HPC/AI. Traditional storage was a particular highlight growing at 73% year-on-year.

Burgeoning Edge business delivering strong signs of future growth.

Transformation businesses also achieved record growth, fueled by ongoing strong growth in services and software revenue* up 44% year-on-year. Managed Services revenue* (DaaS, TruScale) nearly doubled, and Solutions revenue* grew 65% year-on-year.

Fiscal year milestone fueled by leveraging core competencies of clear strategy, product innovation, operational excellence, and Global/Local model

For the first time, Group revenue surged past US$60 billion, adding more than US$10 billion, or 20% year-on-year growth in just one year.

Intelligent Devices Group (PCSD and MBG) and Data Center Group achieved revenue growth of 20% and 15% respectively.

The Group’s Service-led transformation is forging ahead. Software and Services revenue grew twice as fast at the overall Group revenue, at almost 40% year-on-year to a record US$4.9 billion – now makes up 8%* of Group revenue.

Operational highlights

Effective April 1, 2021, the Lenovo Group brought together services and solutions teams and capabilities from across the company to form a dedicated organization - the new Solutions & Services Group (SSG). This business group will further strengthen our attached services portfolio and increase attach rates, enhance and expand managed services, and develop repeatable solutions in key vertical industries.

The Group’s global supply chain continues to be best-in-class with the global footprint expanding to include a new in-house factory in Hungary which will be fully operational later in 2021. Most recently Gartner ranked Lenovo as one of the world’s top 25 supply chains, citing the company as a stand-out performer in customer-driven business transformation, noted for embracing the use of advanced technologies like 5G, blockchain and artificial intelligence to optimize the delivery of products and solutions to customers across 180 markets.

Progress and ambitions around sustainability continue at a significant pace, with Scope 1 and 2 greenhouse gas emissions reduced by 92% over the past decade and have new aggressive science-based targets for 2030 in place to drive progress even harder. The company has also been recognized by the annual Corporate Knights Index as one of the world’s 100 most sustainable companies.

The company was named as one of the world’s most innovative companies by Boston Consulting Group – ranking 25 out of the top 50.

Business outlook

The challenges of FY 20/21 continue, in varying degrees, into the new year. Nevertheless, with the permanent market changes accelerated over the past year the Group’s outlook for the rest of 2021 and the 21/22 fiscal year remains positive. The market changes over the past year are fueling three major trends that the Group is capitalizing on. Firstly, the consumption upgrade, with customers spending more time on their devices, buying more, and upgrading more often. Secondly, the infrastructure upgrade, with customers moving from buying data center products to buying total infrastructure solutions. And finally, the application upgrade, with digitalization greatly accelerated and intelligent transformation, enabled by A.I., becoming a reality. Lenovo’s proven track record for execution, its global-local operating model, and new organizational structure aligns to these trends, will further strengthen the Group’s ability to drive long-term, sustainable growth.

* invoiced revenue

About Lenovo

Lenovo (HKSE: 992) (ADR: LNVGY) is a US$60 billion revenue Fortune Global 500 company serving customers in 180 markets around the world. Focused on a bold vision to deliver smarter technology for all, we are developing world-changing technologies that power (through devices and infrastructure) and empower (through solutions, services and software) millions of customers every day and together create a more inclusive, trustworthy and sustainable digital society for everyone, everywhere. To find out more visit https://www.lenovo.com and read about the latest news via our StoryHub.

 

 

LENOVO GROUP

FINANCIAL SUMMARY

For the fiscal quarter and full year ended March 31, 2021

(in US$ millions, except per share data)

 

 

 

 

Q4

FY20/21

 

Q4

FY19/20

 

 

Y/Y CHG

 

 

FY20/21

 

 

FY19/20

 

 

Y/Y CHG

Revenue

 

15,630

 

10,579

 

48%

 

60,742

 

50,716

 

20%

Gross profit

 

2,688

 

1,861

 

44%

 

9,768

 

8,357

 

17%

Gross profit margin

 

17.2%

 

17.6%

 

(0.4)pts

 

16.1%

 

16.5%

 

(0.4)pts

Operating expenses

 

(2,209)

 

(1,695)

 

30%

 

(7,588)

 

(6,918)

 

10%

Expenses-to-revenue ratio

 

14.1%

 

16.0%

 

(1.9)pts

 

12.5%

 

13.6%

 

(1.1)pts

Operating profit

 

479

 

166

 

188%

 

2,180

 

1,439

 

52%

Other non-operating expenses - net

 

(99)

 

(89)

 

11%

 

(406)

 

(421)

 

(3)%

Pre-tax income

 

380

 

77

 

392%

 

1,774

 

1,018

 

74%

Taxation

 

(95)

 

(14)

 

585%

 

(461)

 

(213)

 

116%

Profit for the period/year

 

285

 

63

 

350%

 

1,313

 

805

 

63%

Non-controlling interests

 

(25)

 

(20)

 

20%

 

(135)

 

(140)

 

(3)%

Profit attributable to equity holders

 

260

 

43

 

512%

 

1,178

 

665

 

77%

Earnings per share (US cents)

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

2.19

 

0.36

 

1.83

 

9.54

 

5.58

 

3.96

Diluted

 

1.94

 

0.35

 

1.59

 

8.91

 

5.43

 

3.48

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526006195/en/

Contacts

Hong Kong – Angela Lee, angelalee@lenovo.com, +852 2516 4810

London – Charlotte West, cwest@lenovo.com, +44 7825 605720

Zeno Group - LenovoWWcorp@zenogroup.com

Leading retailer Lulu awarded first GSAS ‘Gold’ rating in MENA region for sustainable operations

 Doha, Qatar-Sunday 30 May 2021 [ AETOS Wire ]

 Lulu Hypermarket in Qatar has become one of the first retailers in MENA to achieve sustainable operations certification under the Global Sustainability Assessment System (GSAS) from the Gulf Organisation for Research & Development (GORD).

Upon completion of necessary audits by sustainability experts from GORD, LuLu Hypermarket building located in Qatar’s Al Messila area has achieved an overall score of 1.51 which corresponds to a ‘GOLD’ rating under the GSAS Operations certification. Dr. Mohamed Althaf, Director of Lulu Group International, received the GSAS certificate and plaque during the awarding ceremony held at Lulu’s Al Messila branch.

Presenting the plaque and certificate, Dr. Yousef Alhorr, Founding Chairman of GORD, said, “By achieving GSAS Operations certificate with ‘GOLD’ Rating, Lulu International has demonstrated its conscious efforts towards operational excellence which is incomplete without environmental sustainability. We congratulate the organization and hope that its initiative inspires others in the retail sector.”

Dr. Mohamed Althaf said, “Lulu Group has been making serious efforts to minimize our impact on environment and reduce our carbon footprint by half by 2030 and to achieve carbon neutrality by 2050. Our cooperation with GORD began in 2019.  We appreciate the support given by GORD’s Founding Chairman Dr. Yousef Mohammed Alhorr and his dedicated, committed professional team.”

GSAS is MENA region’s first green building certification system that assesses and guides projects on reducing their environmental footprint during design, construction and operations stages. In this context, GSAS Operations aims to reduce the environmental impact of the existing buildings while also improving the health and wellbeing of its occupants.

To achieve ‘GOLD’ rating, several site audits and desk reviews were conducted for the assessment of current operational and maintenance practices at Lulu’s Al Messila branch. All these audits were conducted during operational hours without interrupting the day-to-day business at the hypermarket. The project was evaluated against six categories, namely energy performance, indoor environment, waste management, facility management, water performance, and environmental policy and awareness.

Based on the outcomes of the energy audits conducted during the certification course, Lulu and GORD are now initiating dialogue on facility upgrade through GORD-managed ‘ESCO model’ approach whereby energy saving opportunities will be implemented resulting in cost savings and carbon emission reduction.

Contacts
Hussam Othmany, h.othmany@gord.qa

Shaijan M.O., shaijan@qa.lulumea.com



Permalink : https://www.aetoswire.com/news/leading-retailer-lulu-awarded-first-gsas-lsquogoldrsquo-rating-in-mena-region-for-sustainable-operations/en

OPPO Partners with Thales for World’s First 5G SA-Compatible eSIM

 • The 5G SA-Compatible eSIM features on OPPO's latest flagship 5G smartphone, OPPO Find X3 Pro

• eSIM technology will bring new possibilities for smart devices in the 5G era



SHENZHEN-Sunday 30 May 2021 [ AETOS Wire ]

(BUSINESS WIRE) -- OPPO today announced the world’s first 5G SA-Compatible eSIM on its newly launched flagship 5G smartphone, the OPPO Find X3 Pro, developed in collaboration with the world’s leading eSIM connectivity management company, Thales. The 5G Standalone (SA) eSIM-based OPPO Find X3 Pro will provide users with the advanced 5G experience offered by 5G SA networks, as well as providing both users and mobile operators with the benefits of eSIM technology.

Unlike traditional SIM cards which require to be physically inserted into devices, eSIM, or embedded SIM, is directly built into the device. Users can enjoy a trusted and smooth digital experience when selecting connectivity plans from their preferred mobile operators, from their smartphone. As such, the Thales eSIM also helps mobile operators to take up their digital transformation challenge. In addition to smartphones and wearables such as smartwatches, eSIMs also enjoys a widely growing adoption in Connected Vehicles and Industrial Internet of Things (IIOT).

As the mainstream 5G futureproof infrastructure, 5G SA (Standalone) networks, with lower latency, higher flexibility and a more comprehensive 5G experience, are being deployed by major mobile operators around the world. OPPO and Thales, being the first in the world to support 5G SA network on an eSIM-powered device, spearhead the development of 5G technology.

"As a leading global technology company, OPPO has been spurring the development of 5G technology since the very beginning. We are committed to providing innovative 5G experiences for users and we see eSIM as an exciting prospect in delivering these experiences,” said Xia Yang, Senior Director of Carrier Product, OPPO. “Through our technical collaboration with Thales, we have made the Find X3 Pro one of the first devices in the world to be equipped with 5G SA-Compatible eSIM. As 5G SA networks are being deployed around the world, the addition of 5G SA-Compatible eSIM brings more possibilities for Find X3 Pro users worldwide."

Thales is a world's leading provider in both hardware-based eSIM and eSIM connectivity management with more than 200 eSIM management platforms awarded by mobile operators, operator alliances, MVNOs, and OEMs across all continents. As OPPO's key eSIM solutions partner, Thales eSIM solutions have already been included in the OPPO Watch, OPPO’s first smartwatch with built-in cellular connectivity.

OPPO and Thales worked closely to integrate Thales’ innovative eSIM solution into the Find X3 Pro through eSIM server validation, device debugging, verification, function development, etc. OPPO and Thales have also worked with mobile operators to conduct network interoperability tests, in order to check that users can enjoy two simultaneous active lines (based on removable SIM and an eSIM) with their Find X3 Pro. This collaboration also demonstrates that 5G SA has been successfully implemented on an eSIM-compatible device for the first time.

"We are honored to continue our partnership with OPPO, for validating and commercializing the first 5G SA-Compatible eSIM on the OPPO Find X3 Pro,” said Jérôme Bendell, Vice President of Thales North Asia and CEO of Thales in China. “This is an important milestone in the development of eSIM technology. We believe that with the evolvement and widespread use of eSIM technology, it will further unlock the benefits of 5G to both operators and consumers. In particular, onboarding 5G SA eSIM helps maximize trust and resilience for mobile operators having deployed 5G core networks, and for their customers.”

Driven by user needs and experiences, OPPO began its research and development of eSIM technology in 2018 and has since launched a series of eSIM-Compatible smartphones and smartwatches. The OPPO Find X3 Pro equipped with 5G SA-Compatible eSIM not only demonstrates OPPO's strong technical expertise and insights into eSIM technology but also reflects OPPO’s investments in accelerating the rollout of 5G SA networks, allowing users to benefit from 5G experiences at the earliest opportunity.

About OPPO

OPPO is a leading global smart device brand. Since the launch of its first mobile phone - “Smiley Face” - in 2008, OPPO has been in relentless pursuit of the perfect synergy of aesthetic satisfaction and innovative technology. Today, OPPO provides a wide range of smart devices spearheaded by the Find X and Reno series. Beyond devices, OPPO provides its users with the ColorOS operating system and internet services like OPPO Cloud and OPPO+. OPPO operates in more than 40 countries and regions, with 6 Research Institutes and 5 R&D Centers worldwide, as well as an International Design Center in London. More than 40,000 of OPPO's employees are dedicated to creating a better life for customers around the world.

About Thales

Thales (Euronext Paris: HO) is a global leader in advanced technologies, investing in digital and “deep tech” innovations – connectivity, big data, artificial intelligence, cybersecurity and quantum computing – to build a confident future crucial for the development of our societies. The Group provides its customers – businesses, organisations and governments – in the defense, aeronautics, space, transport, and digital identity and security domains with solutions, services and products that help them fulfil their critical role, consideration for the individual being the driving force behind all decisions.

Thales has 81,000 employees in 68 countries. In 2020 the Group generated sales of €17 billion.

Contacts

For more details, please contact
OPPO International PR Team
Email: press@oppo.com

Thales in China, Head of Government Affairs & Communications
Tammy QIU
+86 10 65875066
tammy.qiu@asia.thalesgroup.com

Permalink : https://www.aetoswire.com/news/oppo-partners-with-thales-for-worldrsquos-first-5g-sa-compatible-esim/en

Orbia Announces Final Results of Its Cash Tender Offer

 MEXICO CITY-Saturday 29 May 2021 [ AETOS Wire ]

(BUSINESS WIRE) -- Orbia Advance Corporation, S.A.B. de C.V. (“Orbia”) (BMV: ORBIA) announces the final results of the previously announced offer (the “Tender Offer”) to purchase for cash any and all of its outstanding US$750,000,000 principal amount of 4.875% Senior Notes due 2022 (CUSIP/ISIN: 59284BAB4; P57908AD0 / US59284BAB45; USP57908AD01) (the “Securities”).

The Tender Offer was made pursuant to the terms and conditions set forth in the offer to purchase dated May 17, 2021 (the “Offer to Purchase”) and the related notice of guaranteed delivery (together with the Offer to Purchase, the “Offer Documents”).

The Tender Offer expired at 5:00 p.m., New York City time, on May 21, 2021, and settled today (the “Settlement Date”).

The table below sets forth the aggregate principal amount of Securities validly tendered in the Tender Offer or validly delivered through guaranteed delivery procedures, that Orbia accepted for purchase, as well as the consideration payable for such Securities.

Title of Security

 

 

CUSIP/ISIN

 

Principal Amount

Outstanding

 

Tender Consideration(1)

 

Principal Amount of

Securities

Tendered and Accepted

4.875% Senior Notes

due 2022

 

 

59284BAB4;

P57908AD0 /

US59284BAB45;

USP57908AD01

 

US$750,000,000

 

US$1,055.75

 

US$327,577,000

__________________________________________

Per each US$1,000 principal amount of Securities. Holders who validly tendered Securities and whose Securities were accepted for purchase also received accrued and unpaid interest on such Securities from, and including, the last interest payment date for the Securities to, but not including, the Settlement Date.

The aggregate amount paid by Orbia to holders whose Securities were accepted for purchase, including accrued and unpaid interest, was approximately US$349 million.

Orbia retained BBVA Securities Inc. and Morgan Stanley & Co. LLC to act as dealer managers in connection with the Tender Offer. D.F. King & Co., Inc. acted as the tender agent and information agent for the Tender Offer.

Any questions or requests for assistance regarding the Tender Offer may be directed to BBVA Securities Inc. at +1 (800) 422 8692 (toll-free) and +1 (212) 728 2446 (collect) and Morgan Stanley & Co. LLC at +1 (800) 624-1808 (toll-free) and +1 (212) 761-1057 (collect). Requests for additional copies of the Offer Documents may be directed to D.F. King & Co., Inc. at + (800) 848-2998 (toll-free) or +(212) 269-5550 (collect). The Offer Documents can be accessed at the following link: www.dfking.com/orbia.

This press release is for informational purposes only. This press release shall not constitute an offer to purchase or sell or the solicitation of an offer to sell or purchase any securities.

The Tender Offer was made solely pursuant to the Offer Documents. The Offer Documents have not been filed with, and have not been approved or reviewed by any federal or state securities commission or regulatory authority of any country. No authority has passed upon the accuracy or adequacy of the Offer Documents or any other documents related to the Tender Offer, and it is unlawful and may be a criminal offense to make any representation to the contrary.

THE INFORMATION CONTAINED HEREIN AND IN THE OFFER DOCUMENTS IS EXCLUSIVELY ORBIA’S RESPONSIBILITY AND HAS NOT BEEN REVIEWED OR AUTHORIZED BY THE MEXICAN NATIONAL BANKING AND SECURITIES COMMISSION (COMISIÓN NACIONAL BANCARIA Y DE VALORES, THE “CNBV”). ORBIA HAS NOT FILED WITH THE CNBV A REQUEST FOR AUTHORIZATION OF THE TENDER OFFER. THE TENDER OFFER DOES NOT CONSTITUTE A PUBLIC OFFERING IN MEXICO AND IT MAY NOT BE PUBLICLY DISTRIBUTED IN MEXICO. THE TENDER OFFER MAY ONLY BE MADE AVAILABLE IN MEXICO TO INVESTORS THAT QUALIFY AS INSTITUTIONAL OR ACCREDITED INVESTORS (INVERSIONISTAS INSTITUCIONALES OR INVERSIONISTAS CALIFICADOS), SOLELY PURSUANT TO THE PRIVATE OFFERING EXEMPTION SET FORTH IN ARTICLE 8 OF THE MEXICAN SECURITIES MARKET LAW (LEY DEL MERCADO DE VALORES) AND REGULATIONS THEREUNDER. NEITHER THE OFFER TO PURCHASE, THE NOTICE OF GUARANTEED DELIVERY OR ANY OTHER OFFERING DOCUMENT MAY BE PUBLICLY ADVERTISED, MARKETED, DISTRIBUTED IN MEXICO. FURTHERMORE, THE CNBV HAS NOT CONFIRMED THE ACCURACY OR DETERMINED THE ADEQUACY OF THIS OFFER DOCUMENTS. IN MAKING A DECISION AS TO WHETHER TO TENDER ANY OF THEIR SECURITIES, ALL HOLDERS MUST RELY ON THEIR OWN REVIEW AND EXAMINATION OF THE TERMS OF THE TENDER OFFER.

The communication of this press release and any other documents or materials relating to the Tender Offer is not being made and such documents and/or materials have not been approved by an authorized person for the purposes of Section 21 of the Financial Services and Markets Act 2000. This press release and any other documents or materials relating to the Tender Offer are for distribution only to persons who (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”), (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order, (iii) are members or creditors of certain bodies corporate as defined by or within Article 43(2) of the Order, (iv) are outside the United Kingdom, or (v) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000) in connection with the offer to purchase any securities may otherwise lawfully be communicated (all such persons together being referred to as “relevant persons”). This press release and any other documents or materials relating to the Tender Offer are directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this press release and any other documents or materials relating to the Tender Offer are available only to and will be engaged in only with relevant persons.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements are information of a non-historical nature or which relate to future events and are subject to risks and uncertainties. No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transactions. Orbia undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information or future events or for any other reason.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005931/en/

Contacts

Investors

Javier Luna, Capital Markets and Investor Relations Director

+52 55 5366 4151

javier.luna@orbia.com

Media

Kacy Karlen, Corporate Communications Director

+1 865-410-3001

kacy.karlen@orbia.com

 

Permalink : https://www.aetoswire.com/news/orbia-announces-final-results-of-its-cash-tender-offer/en

Hanwha Systems $30M Investment into Kymeta Corp. Approved by CFIUS

 Kymeta and HSC move closer toward the development of Flat Panel Electronically Steered LEO and GEO antenna solutions for South Korean markets and beyond

REDMOND, Wash-Friday 28 May 2021 [ AETOS Wire ]

(BUSINESS WIRE)-- Kymeta Corporation (www.kymetacorp.com)—the communications company making mobile global—announced today that the Committee on Foreign Investment in the United States (CFIUS) has approved a $30 million investment by Hanwha Systems Co., Ltd. (HSC) (www.hanwha.com), a leading global solutions company that provides differentiated smart technologies in defense electronics and information infrastructure, in Kymeta.

The approval provided by CFIUS clears the way for HSC and Kymeta to close on the transaction that was jointly announced last December. The investment moves Kymeta one step closer toward developing solutions that are future proof and interoperable with both LEO and GEO mega constellations. Today, the Kymeta™ u8 is the only commercially available flat panel antenna that is compatible with LEO and GEO satellite constellations and enabled to take advantage of the growing capacity within space.

“We are thrilled that the investment is approved and eager to leverage Kymeta’s expertise in hybrid satellite and cellular connectivity solutions,” said Youn Chul Kim, CEO of HSC. “Kymeta’s solutions will further our aerospace capabilities and deliver reliable communications for our defense customers.”

“We look forward to moving ahead and working with HSC,” said Doug Hutcheson, Executive Chairman, Kymeta. “We believe this investment will be instrumental in enabling the continued innovation, advancement and commercialization of Kymeta’s connectivity solutions. We’re excited about the future of Kymeta and the LEO satellite market.”

The investment from HSC will further Kymeta’s global market reach, accelerate production, and improve the overall growth trajectory of the company. The funding will support increased unit production, enhanced customer experience, and the ongoing development of Kymeta’s next generation capabilities. With the capital investment HSC will also receive a seat on the Kymeta Board of Directors.

HSC plans to support Kymeta’s metamaterial-based antenna technology and gain a foothold in the rapidly growing Low Earth Orbit (LEO) antenna market.

About Kymeta

Kymeta is unlocking the potential of broadband satellite connectivity, combined with cellular networks, to satisfy the overwhelming demand for comms on the move and making mobile global. Lepton Global Solutions, a Kymeta company, hosts the company’s satellite connectivity solutions and offers unique, complete, and turnkey bundled solutions to the market based on best-in-class technologies and tailored customer-centric services that meet and exceed customer mission requirements. These solutions in tandem with the company’s flat-panel satellite antenna, the first of its kind, and Kymeta Connect™ services provide revolutionary mobile connectivity on satellite and hybrid satellite-cellular networks to customers around the world. Backed by U.S. and international patents and licenses, the Kymeta terminal addresses the need for lightweight, slim, and high-throughput communication systems that do not require mechanical components to steer toward a satellite. Kymeta makes connecting easy – for any vehicle, vessel, or fixed platform.

Kymeta is a privately held company based in Redmond, Washington.

For more information, visit kymetacorp.com.

About Hanwha Systems

HSC is a leading global solutions company providing differentiated smart technologies in defense electronics and information infrastructure. Since its founding in 1978, the Hanwha Systems has significantly advanced the defense capabilities of South Korea’s military. The company has spent more than 40 years developing systems used globally, which are used to develop advanced systems for surveillance, reconnaissance, control, communication, computer, and intelligence (C4I), naval and land.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005324/en/

 

Contacts

Business Inquiries for Kymeta:

Brenda Kuhns

Director of Marketing

Kymeta Corporation

bkuhns@kymetacorp.com

Media Inquiries for Kymeta:

Amanda Barry

Director of PR & Content

The Summit Group

abarry@summitslc.com

Permalink : https://www.aetoswire.com/news/hanwha-systems-30m-investment-into-kymeta-corp-approved-by-cfius/en

Europe's Software Vendors Highly Valued in US Comparison

 Study by Bryan, Garnier & Co refutes alleged valuation discount on Europe's stock exchanges

PARIS-Saturday 29 May 2021 [ AETOS Wire ]

Surprising result of an analysis of Refinitiv data on 95 European and 97 US software companies, including 29 and 67 SaaS providers respectively

Compared to the US, the European companies have a valuation premium of nine percent on average when the revenue multiples are weighted by the average expected 3-year growth (CAGR)

Stock market success ultimately independent of the stock exchange chosen

(BUSINESS WIRE) -- European investment bank Bryan, Garnier & Co today presented a study that clearly refutes the widespread structural undervaluation of European software vendors. When the usual EV/sales multiples (enterprise value / expected sales for the next year) are related to the average expected growth over three years (CAGR), European software vendors are even trading at a valuation premium of around nine percent (eight percent in the case of SaaS providers) compared to their US competitors.

For this analysis, software analyst Gregory Ramirez compared the valuations of all 95 European-listed and 97 US-listed software vendors between 2006 and 2020, for which there is historical analyst consensus data from Refinitiv. These companies include 29 European and 67 US SaaS vendors.

A superficial look at the simple sales multiples shows that the US providers' multiple of 9.9 over the last 15 years is significantly higher than the 5.6 of their European competitors. However, if the stock market value is not only assessed on the basis of the simple sales multiple, but average growth1 is taken into account and both are placed in relation to each other, a completely different picture emerges. This puts the significance of the sales expectation for the next year into perspective.

For example: if in April 2021 Salesforce shares were trading at a revenue multiple of 10 (10x expected revenue in 2022) and the expected average revenue growth (CAGR) for 2020-2023 is 20%, the ratio is 10 / 0.2 / 100 and the newly calculated ratio is 0.50. The analyst did this calculation for the 15 years up to April 2021 and came up with a surprising result, which is that the valuations of software companies on the European stock exchanges are not only on par with the companies listed in the US, they are slightly higher. For the Europeans, this results in an average valuation that is nine percent higher than that of their US competitors. The same principle applied to the 29 or 67 (US) listed SaaS providers over a four-year period yields almost the same result: here, the average premium is eight percent.

Ramirez explains: "This picture is much closer to the reality of the stock market valuation. This weighting with the average growth rate normalizes the multiples and thus relativises the significance of the short-term growth expectation for a single year.”

The study also shows that the differences in the individual valuations of software providers listed in Europe are wider than those of their US competitors. This dispersion cannot be explained by a significant number of loss-making companies among European software vendors, nor by the liquidity of their shares. Contrary to another common prejudice, the most highly valued European software stocks are by no means always the most liquid, nor are they necessarily listed on the most liquid markets.

Valuation is not decided by the stock market

Bryan, Garnier & Co explain that the heterogeneity of the valuation of European software providers is a result of very different business models, track records and corporate governance. Above all, the degree of maturity of the European companies is very different, while US companies almost always have a long maturation process with numerous financing rounds behind them before going public.

"This makes it clear that the stock exchange location is not decisive for the valuation of a software company. It's all about the quality of the business model and management, the degree of maturity and the track record to date," explains Greg Revenu, Managing Partner of Bryan, Garnier & Co. This is an important insight, he says, "because for Europeans an IPO in the USA is usually associated with many difficulties.” Pierre Kiecolt-Wahl, Partner and Head of ECM at Bryan, Garnier & Co adds: "If the stock market success of European software companies is ultimately independent of the chosen stock exchange, there is not the slightest argument against an IPO on a European stock exchange."

WEBINAR:

Debunking the software valuation gap: European software companies going public in the US

Bryan, Garnier & Co will be hosting a webinar on Thursday 27 May, 10h CET – 10h45 to discuss the report findings in more detail. Join us >>

About Bryan, Garnier & Co (www.bryangarnier.com)

Bryan, Garnier & Co is a European, full-service growth-focused independent investment banking partnership founded in 1996. The firm provides equity research, sales and trading, private and public capital raising as well as M&A services to growth companies and their investors. It focuses on key growth sectors of the economy including Technology, Healthcare, Consumer and Business Services. Bryan, Garnier & Co is a fully registered broker dealer authorized and regulated by the FCA in the UK, the AMF in Europe and the FINRA in the U.S. Bryan, Garnier & Co is headquartered in London, with additional offices in Paris, Munich, Stockholm, Oslo, Reykjavik and New York.

1 CAGR - in this case a three-year moving average of the expected growth rates of the current year and the next two years

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005057/en/

Contacts

FRANCE - Profile

Margaux Frantz – Caroline Matuszewski

+33 1 56 26 72 23 / 32

mfrantz@agence-profile.com

cmatuszewski@agence-profile.com

GERMANY – Advice Partners

Regine Petzsch

+49 175 935 2860

regine.petzsch@advicepartners.de

Permalink : https://www.aetoswire.com/news/europe39s-software-vendors-highly-valued-in-us-comparison/en

BIO KOREA 2021 International Convention to Unlock the Secret of Future Technologies

 

SEOUL, South Korea-Friday 28 May 2021 [ AETOS Wire ]

(BUSINESS WIRE)-- As one of the most important global bio-health conventions, BIO KOREA 2021 International Convention has garnered great attention from home and abroad. To facilitate the discussion on the future bio-health industry in the ‘COVID-19 era’, the BIO KOREA 2021 to be held on June 9 to 21 will evolve around the theme of “New Normal: Breaking Barriers with Bio Innovation”.

BIO KOREA organizing committee announced the main programs, deep-diving into business strategies in the post-pandemic era.

The Four Programs Focusing on Biohealth Industry and Business

BIO KOREA 2021 Business Forum will focus on a virtual partnering system allowing attendees to schedule virtual meetings to maximize their business development and licensing potential.

International participation continues to grow. Numerous companies from 20+ countries already joined and are expected to showcase their advanced technologies at BIO KOREA 2021.

As an event involving various kinds of discussion, BIO KOREA attracts not only leading biohealth companies in Korea such as SK Chemicals, Chong Kun Dang, ShinPoong Pharm, Kolon Life Science, etc, but also promising SMEs like PharmCADD, WELT, Oncocross, Biot Korea, all of which are eager to grow their business. 24-hour meeting slots will strengthen your digital network across time zones. Also, company presentations will be livestreamed on the official BIO KOREA platform.

The Exhibition will be held both online and on-site, as a hybrid format, which will showcase the cutting-edge technologies and products of exhibitors in various ways. 300+ exhibitors, from start-up to global enterprise, will be at BIO KOREA’s exhibition. Participants can meet on-site exhibitors through live streaming on the online platform during the event.

There will be a Digital Healthcare-themed pavilion introducing the industrial rookies of Digital Wellness, Mobile Healthcare, Digital Therapeutics, Big Data, and AI, etc. Also, COVID-19 show room will show participants how biohealth serves as a cure for the pandemic.

The Conference of BIO KOREA will consist of valuable expert-level lectures regarding the most pressing industry topics including Digital Health, Drug Development, and Post COVID-19. BIO KOREA 2021 conference covering 18 topics with 170+ speakers, will bring the most up-to-date conversations of biohealth both online and on-site.

Invest Fair is an event where pharmaceuticals, bio, and healthcare companies that are advancing into the global market and developing new drugs introduce their leading technology, vision and strategy to the investors. Along with online hosting, it maintains the participants’ attendance with impressive lineups of 19 companies such as Lunit, Tium BIO, VaxcellBio and Genesystem.

BIO KOREA 2021 will be available both Online and On-site

BIO KOREA presents invaluable information on the industry’s trends around the world. This year, the global audience will have a front-row seat to discover and see the latest technology. All BIO KOREA programs will be livestreamed from June 9 to June 21. The program at a glance is on https://www.biokorea.org/program/schedule.asp.

For more updates: https://www.biokorea.org

About BIO KOREA

BIO KOREA serves as a venue place for practical business correspondence as well as international information and technology exchange, invigorating the bio industry. For 15 years, BIO KOREA has been a place of bringing together various international academics, professionals, and CEOs of global bio companies to obtain, exchange, and discuss diverse affairs. It has been providing abundant opportunities to enhance competitive edges within the convergence industry centered around biotechnology.

Contacts

BIO KOREA Organizing Committee
Jung-sun Park
+82-1661-0810 (O! BIO)
biokorea@biokorea.org

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Lineage Logistics Named to the 2021 CNBC Disruptor 50 List

 ~Recognition underscores Lineage’s commitment to living its purpose to transform the food supply chain to eliminate waste and help feed the world~

~Annual list recognizes forward-thinking private companies whose innovations are changing the world~

NOVI, Mich.-Saturday 29 May 2021 [ AETOS Wire ]

(BUSINESS WIRE) -- Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it was named to the 2021 CNBC Disruptor 50 list.

The annual list features forward-thinking private companies in a range of industries that are growing quickly and whose innovations are changing the world. Companies named as a CNBC Disruptor 50 are selected by CNBC and CNBC.com editorial staff using a proprietary blend of quantitative and qualitative information submitted by more than 1,500 nominated companies.

“At Lineage, we’re constantly challenging the status quo by applying Silicon Valley-style technology to the generations-old temperature-controlled logistics industry,” said Greg Lehmkuhl, President and CEO of Lineage. “Lineage’s unique, innovation-first approach not only delivers value to our customers, but also drives our industry forward. We are incredibly proud to be recognized by CNBC as one of the select companies disrupting their industries during such a critical time – particularly in the food supply chain.”

Since January 2020, Lineage has raised $4.3 billion from new and existing investors to fund its global network capacity and to double down on new and disruptive technologies to design the temperature-controlled warehouse of the future. In 2020 alone, Lineage opened or broke ground on 16 new construction projects around the world, completed 38 acquisitions, and entered eight new countries to add over 130 locations to its global facility network. Additionally, Lineage now has 15 patents for technology innovations, including automation and energy efficiency algorithms that reduce both cost and waste.

Lineage was founded in 2008 and has since remained grounded in its purpose of transforming the food supply chain to eliminate waste and help feed the world. As a result, Lineage has developed solutions to global macro and socio-economic issues such as energy consumption, minimizing food waste and reducing food insecurity.

Highlights of Lineage’s recent innovation include:

The Company achieved Visionary Partner status with Feeding America®, the nation’s largest domestic hunger-relief organization, as a result of financial donations made through Lineage’s “Share A Meal” campaign which provided over 100 million meals to people in need in response to COVID-19.

Lineage was recognized for three consecutive years (2019, 2020 and 2021) by the US Department of Energy (DOE) for innovations in energy efficiency.

In recognition of Black History Month, Lineage hosted a virtual fireside chat with Martin Luther King III on his perspectives and experiences as well as what it takes to bring people from different backgrounds together to achieve a common success.

In 2020, Lineage announced that it made a $500,000 investment in its inclusion and diversity programs. This commitment began with a donation to the Equal Justice Initiative, a nonprofit organization committed to challenging racial and economic injustice and protecting basic human rights.

For the full list of CNBC Disruptor companies, visit: cnbc.com/disruptors

About Lineage Logistics

Lineage Logistics is the world’s largest temperature-controlled industrial REIT and logistics solutions provider. It has a global network of over 340 strategically located facilities totaling over 2 billion cubic feet of capacity which spans 15 countries across North America, Europe, Asia-Pacific, and South America. Lineage’s industry-leading expertise in end-to-end logistical solutions, its unrivaled real estate network, and development and deployment of innovative technology help increase distribution efficiency, advance sustainability, minimize supply chain waste, and most importantly, as a Visionary Partner of Feeding America, help feed the world. In recognition of the company’s leading innovations and sustainability initiatives, Lineage was recognized as the No 1. Data Science company, and 23rd overall, on Fast Company’s 2019 list of The World’s Most Innovative Companies, in addition to being included on Fortune’s Change The World list in 2020. (www.lineagelogistics.com)

View source version on businesswire.com: https://www.businesswire.com/news/home/20210526005434/en/

Contacts

Media Contacts:

Lineage Logistics

Megan Hendricksen

949.247.5172

mhendricksen@lineagelogistics.com

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