European Commission Releases Takeda From Commitment to Divest Shire’s Pipeline Compound SHP647

OSAKA, Japan-Saturday 30 May 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- Takeda Pharmaceutical Company Limited (TOKYO:4502) (NYSE:TAK) (“Takeda”) today announces that on May 28, the European Commission (the “EC”) has released Takeda from the obligation to divest the pipeline compound SHP647 and certain associated rights (“SHP647”), a commitment that was provided by Takeda to secure regulatory clearance of its acquisition of Shire plc (“Shire”). Takeda will discontinue the current SHP647 clinical trial program, and it will be providing all eligible trial participants with the opportunity to have continued access to SHP647 in a post-trial access (“PTA”) study. In addition, subject to obtaining trial participant consents and the satisfaction of regulatory and ethical considerations, Takeda will make SHP647 clinical trial data and biosamples available to the scientific community through the Crohn’s & Colitis Foundation (“Foundation”).

Takeda announced on November 20, 2018, that the EC approved its proposed acquisition of Shire (the “Acquisition”). The EC’s approval was conditioned on Takeda fulfilling commitments provided to the EC in connection with the regulatory clearance. Specifically, in relation to the future potential overlap in the area of inflammatory bowel diseases between Takeda’s marketed product Entyvio (vedolizumab) and Shire’s pipeline compound SHP647, Takeda committed to divest SHP647. The divestment of SHP647 was not a condition to the completion of the Acquisition, which became effective on January 8, 2019.

Subsequent to the completion of the Shire acquisition, the SHP647 clinical trial program was affected by exceptional circumstances, which have caused the EC to conclude that the competition concerns previously identified by the EC no longer arise. Accordingly, the EC found that Takeda’s obligation to divest SHP647 was no longer justified and the EC waived the commitment.

Takeda engaged in two formal and rigorous sale processes spanning 14-months to identify and engage with potential purchasers of SHP647. The first sales process was conducted by Takeda and the second by an independent Divestiture Trustee, which was appointed under the standard procedure provided for in Takeda’s commitments to the EC. Takeda and the Divestiture Trustee each engaged with more than 60 potential purchasers, but the sale process was unsuccessful.

Takeda will no longer develop the SHP647 compound in any inflammatory bowel disease indication, including Ulcerative Colitis or Crohn’s Disease. The SHP647 clinical trial program will be discontinued in an orderly manner over the coming months. New patient enrolment into the study protocols was already stopped in late March due to the risks associated with the COVID-19 pandemic. The trials will be unblinded and not restarted. Takeda is committed to providing all eligible patients already in the SHP647 clinical trials and responding to treatment with the opportunity to have continued access to SHP647 in a PTA study. The parameters for this PTA study will be determined in collaboration with the SHP647 program’s steering committee and relevant regulatory authorities, and subsequently launched, subject to applicable local regulations and ethical considerations. Patients should continue to adhere to the current study protocol until contacted by their study site after guidance has been provided by the Takeda study team members. Treatment will be made available to patients enrolled in this PTA study to meet their individual treatment needs.

In addition, Takeda will make SHP647 clinical trial data and biosamples available to the scientific community through the Foundation, via the IBD Plexus® platform, a first-of-its-kind research information exchange platform and biobank that centralizes data and biosamples from diverse research studies, subject to applicable local regulations and ethical considerations. The Foundation will serve as an independent body to review requests from investigators and physicians seeking access to anonymised SHP647 clinical trial data and biosamples, and to make final decisions on data sharing. Takeda is committed to sharing clinical trial data and biosamples that benefit patients and foster scientific discovery in a way that ensures patient consent to the use of the data, privacy and preserves the integrity of research.

Assets and liabilities related to SHP647, which were previously classified as held for sale on Takeda’s consolidated statements of financial position, have ceased to be classified as held for sale as the result of the EC’s decision. Takeda will reverse previously estimated liabilities and reassess the estimates of the future costs related to SHP647 such as program termination costs, which will have a net impact of gain on our Operating Profit in Q1 of the current fiscal year ending March 31, 2021 (i.e., FY2020). This impact will be disclosed in due course, after it becomes available.

About Takeda Pharmaceutical Company Limited

Takeda Pharmaceutical Company Limited (TOKYO:4502) (NYSE:TAK) is a global, values-based, R&D-driven biopharmaceutical leader headquartered in Japan, committed to bringing Better Health and a Brighter Future to patients by translating science into highly-innovative medicines. Takeda focuses its R&D efforts on four therapeutic areas: Oncology, Rare Diseases, Neuroscience, and Gastroenterology (GI). We also make targeted R&D investments in Plasma-Derived Therapies and Vaccines. We are focusing on developing highly innovative medicines that contribute to making a difference in people's lives by advancing the frontier of new treatment options and leveraging our enhanced collaborative R&D engine and capabilities to create a robust, modality-diverse pipeline. Our employees are committed to improving quality of life for patients and to working with our partners in health care in approximately 80 countries.
For more information, visit https://www.takeda.com.

About the Crohn's & Colitis Foundation

The Crohn's & Colitis Foundation is the leading non-profit organization focused on both research and patient support for inflammatory bowel disease (IBD). The Foundation’s mission is to cure Crohn's disease and ulcerative colitis, and to improve the quality of life for the estimated 3 million Americans living with IBD. For over 50 years, we have been inspiring and engaging patients and caregivers in the country’s largest IBD community and helping to dramatically accelerate the pace of research by breaking down traditional barriers to patients, data, funding, and collaborations. We also provide extensive educational resources for patients and their families, medical professionals, and the public.
For more information, visit www.crohnscolitisfoundation.org, call 888-694-8872, or email info@crohnscolitisfoundation.org.

Important Notice

For the purposes of this notice, “press release” means this document, any oral presentation, any question and answer session and any written or oral material discussed or distributed by Takeda Pharmaceutical Company Limited (“Takeda”) regarding this release. This press release (including any oral briefing and any question-and-answer in connection with it) is not intended to, and does not constitute, represent or form part of any offer, invitation or solicitation of any offer to purchase, otherwise acquire, subscribe for, exchange, sell or otherwise dispose of, any securities or the solicitation of any vote or approval in any jurisdiction. No shares or other securities are being offered to the public by means of this press release. No offering of securities shall be made in the United States except pursuant to registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom. This press release is being given (together with any further information which may be provided to the recipient) on the condition that it is for use by the recipient for information purposes only (and not for the evaluation of any investment, acquisition, disposal or any other transaction). Any failure to comply with these restrictions may constitute a violation of applicable securities laws.
The companies in which Takeda directly and indirectly owns investments are separate entities. In this press release, “Takeda” is sometimes used for convenience where references are made to Takeda and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to subsidiaries in general or to those who work for them. These expressions are also used where no useful purpose is served by identifying the particular company or companies.

Forward-Looking Statements

This press release and any materials distributed in connection with this press release may contain forward-looking statements, beliefs or opinions regarding Takeda’s future business, future position and results of operations, including estimates, forecasts, targets and plans for Takeda. Without limitation, forward-looking statements often include words such as “targets”, “plans”, “believes”, “hopes”, “continues”, “expects”, “aims”, “intends”, “ensures”, “will”, “may”, “should”, “would”, “could” “anticipates”, “estimates”, “projects” or similar expressions or the negative thereof. These forward-looking statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those expressed or implied by the forward-looking statements: the economic circumstances surrounding Takeda’s global business, including general economic conditions in Japan and the United States; competitive pressures and developments; changes to applicable laws and regulations; the success of or failure of product development programs; decisions of regulatory authorities and the timing thereof; fluctuations in interest and currency exchange rates; claims or concerns regarding the safety or efficacy of marketed products or product candidates; the impact of health crises, like the novel coronavirus pandemic, on Takeda and its customers and suppliers, including foreign governments in countries in which Takeda operates, or on other facets of its business; the timing and impact of post-merger integration efforts with acquired companies; the ability to divest assets that are not core to Takeda’s operations and the timing of any such divestment(s); and other factors identified in Takeda’s most recent Annual Report on Form 20-F and Takeda’s other reports filed with the U.S. Securities and Exchange Commission, available on Takeda’s website at: https://www.takeda.com/investors/reports/sec-filings/ or at www.sec.gov. Takeda does not undertake to update any of the forward-looking statements contained in this press release or any other forward-looking statements it may make, except as required by law or stock exchange rule. Past performance is not an indicator of future results and the results or statements of Takeda in this press release may not be indicative of, and are not an estimate, forecast, guarantee or projection of Takeda’s future results.

Contacts

Media Contacts:
Japanese Media
Kazumi Kobayashi
kazumi.kobayashi@takeda.com
+81 (0) 3-3278-2095
Takeda Pharmaceutical Company Limited

Media outside Japan
Tsuyoshi Tada
tsuyoshi.tada@takeda.com
+1 (617) 551-2933
Takeda Pharmaceutical Company Limited


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Entersekt Offers Guidance on Securing the Mobile Channel Amidst FBI Cautions

US Federal Bureau of Investigation warns that cybercriminals are increasingly targeting mobile banking apps – here’s what banks can do



ATLANTA & CAPE TOWN, South Africa-Monday 29 June 2020 [ AETOS Wire ]

(BUSINESS WIRE) -- Entersekt, a global specialist in digital security solutions, today released its updated guidance for financial institutions, Securing the Mobile Banking Channel, a white paper. This follows the FBI warning that an increase in attacks on banking applications by cybercriminals and fraudsters is likely, as consumers stuck at home during the COVID-19 pandemic rely more heavily on these platforms. And with recent research pointing to a marked distrust in banking communications among banking customers in the United Kingdom, it has never been as important for financial institutions to get the security of the mobile channel right.

“Current solutions to digital fraud have failed to alleviate consumer uneasiness around mobile banking security and have had a negative impact on the user experience,” said Christian Ali, SVP product, Entersekt. “Meanwhile, mobile malware is evolving fast, threatening to make the situation worse. If banks want to protect their customers from account takeover fraud and secure their futures in a disrupted marketplace, they must intelligently reengineer user and transaction authentication on the mobile channel as the first, crucial step on that path.”

Entersekt’s free-to-access whitepaper outlines the opportunities presented by mobile, as well as the new set of threats that arise from it, including the explosive rise of mobile malware, vulnerabilities stemming from poor app design and configuration, weaknesses in mobile device ID, as well as flawed authentication. Importantly, it also addresses the necessary balance of regulatory-compliant security and ease-of-use. In other words, how financial institutions can solve the security and user experience equation.

It then lays out the best practices to secure the mobile channel in order for organizations to take full control over their security. These include:

Avoiding reliance on SMS, OTPs, and native device security

Harnessing the power of public-key infrastructure on mobile phones

Building a second, secure channel for user transaction and authentication

Taking a layered approach to boost security for high-value, high-risk transactions

Involving customers in securing their transactions

Download Securing the mobile banking channel here.

About Entersekt

Entersekt is an innovator of mobile-first fintech solutions. Financial services providers and other enterprises rely on its patented mobile identity system to provide both security and the best in convenient new digital experiences to their customers, irrespective of the service channel. Whether pursuing compliance through strong authentication and state-of-the-art app security or looking to meet consumer demand for on-the-go information sharing and payment capabilities, Entersekt’s clients always enjoy a competitive advantage. For more information on Entersekt, visit www.entersekt.com.

Contacts
Entersekt
Heather Thompson, SVP marketing and communications
021 815 2800




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MSCI 2020 Market Classification Review

LONDON -Thursday 25 June 2020 [ AETOS Wire ]

Warns on the potential reclassification of the MSCI Argentina Index
Notes the deterioration in investability of the MSCI Turkey Index
Reclassifies the MSCI Iceland Index from Standalone to Frontier Markets status
Announces monitoring of accessibility of the Nigeria, Lebanon and Bangladesh equity markets
(BUSINESS WIRE)-- MSCI Inc. (NYSE: MSCI), a leading provider of research-based indexes and analytics, announced today the results of the MSCI 2020 Market Classification Review and warned that the MSCI Argentina Index may be removed from the MSCI Emerging Markets Index if there is further deterioration in market accessibility.

“While volatility increased dramatically due to the COVID19 pandemic, global equity markets remained accessible and continued to function well, allowing issuers to raise capital and investors to manage risk during the crisis,” said Dimitris Melas, Global Head of Equity Research and Chairman of the MSCI Index Policy Committee. However, Dr. Melas added, “In the last 12 months, two important Emerging Markets, Argentina and Turkey, suffered substantial deterioration in market accessibility that could lead to their exclusion from the MSCI Emerging Markets Index.”

Potential exclusion of the MSCI Argentina Index from the MSCI Emerging Markets Index

MSCI announced today that it will continue consulting with market participants on the classification of the MSCI Argentina Indexes, as international institutional investors continue to be subject to stringent capital controls which were put in place in September 2019, making it impossible for international investors to access the domestic equity market.

“The MSCI Argentina Indexes remain replicable, as only foreign listings are currently eligible for index inclusion, but the imposition of the current capital controls is not in line with the market accessibility criteria of the MSCI Emerging Markets Indexes,” said Sebastien Lieblich, Global Head of Index Solutions and Chairman of the MSCI Equity Index Committee. Mr. Lieblich added, “The Argentinian authorities must realize that the prolonged application of capital controls or the introduction of further capital controls may force the reclassification of the MSCI Argentina Indexes from Emerging Markets status to either Frontier Markets or Standalone Markets status.”

MSCI will consult on the potential reclassification of the MSCI Argentina Index as part of the MSCI 2021 Market Classification Review. However, any event that results in further deterioration of market accessibility will prompt MSCI to remove the MSCI Argentina Indexes from Emerging Markets as soon as practicable.

Marked deterioration in investability of the MSCI Turkey Index

Additionally, MSCI announced that it may launch a consultation on a reclassification proposal for the MSCI Turkey Index to Frontier Markets or Standalone Markets status if the already deteriorating accessibility level of the Turkish equity market were to worsen further. As highlighted in the MSCI 2020 Market Accessibility Review released on June 17, 2020, the accessibility level of the Turkish equity market has been adversely impacted by the introduction of short selling and stock lending bans in October 2019 and February 2020, respectively. These bans severely restrict the ability of institutional investors to express active investment views and hedge portfolio risk.

MSCI Iceland Index reclassification to Frontier Markets status

MSCI also announced today that it will reclassify the MSCI Iceland Index from Standalone Markets to Frontier Markets status. The capital controls, including the Special Reserve Ratio, were removed on March 6, 2019. While certain reporting requirements for fund repatriation remain in place, based on feedback from market participants, this no longer materially impacts the accessibility of the Icelandic equity market for international institutional investors.

MSCI will include the MSCI Iceland Index in the MSCI Frontier Markets Index in one step coinciding with the May 2021 Semi-Annual Index Review. Based on the simulation using pro forma data as of June 18, 2020, this would lead to the inclusion of two securities in the MSCI Frontier Market Index (excluding Kuwait) with an estimated index weight of 5.24%. The simulated list of constituents for the MSCI Iceland Index in the MSCI Frontier Markets Index (excluding Kuwait) has been made available at https://www.msci.com/market-classification.

Accessibility issues in select Frontier Markets

Some market accessibility issues have been recently observed in select Frontier Markets. The Nigerian equity market has been impacted by the significant deterioration of liquidity in the Nigerian FX market. Lebanon has been subject to capital controls which were introduced in October 2019. The Bangladesh Securities and Exchange Commission (BSEC) introduced a floor price (set at the average of the closing price of the immediately preceding five trading days) applicable to all securities listed on the Dhaka Stock Exchange in March 2020, resulting in substantial drop in trading liquidity.

While such accessibility issues may be viewed by market participants as part of the inherent characteristics of Frontier Markets, these developments have a negative impact on the replicability of the indexes. Therefore, MSCI will continue classifying these markets as Frontier Markets until further notice, while applying a special treatment to potentially reduce the number of changes in the related indexes and mitigate the index replication concerns.

MSCI will not implement selected changes for any securities classified in Nigeria, Lebanon or Bangladesh in the relevant MSCI Country Indexes or in any derived indexes that contain these markets. This special treatment will apply to any potential changes that would be part of upcoming index reviews, as well as certain corporate event implementations. This treatment has been in effect for the MSCI Nigeria Indexes since May 13, 2020 and will be applicable to the MSCI Lebanon Indexes and the MSCI Bangladesh Indexes effective immediately.

MSCI welcomes feedback on the level of accessibility of equity markets in Nigeria, Lebanon and Bangladesh and will continue to monitor the situation. In the event of further deterioration of market accessibility, MSCI may reclassify the MSCI Nigeria Indexes, the MSCI Lebanon Indexes or the MSCI Bangladesh Indexes to Standalone Markets status as soon as practicable. MSCI would provide sufficient lead time prior to implementation and would consult with market participants about the details and timing of the reclassification.

The accessibility reports for Argentina, Iceland and Nigeria are now reflected in the MSCI 2020 Global Market Accessibility Review report available at https://www.msci.com/market-classification.

Reclassification of the MSCI Kuwait Index to Emerging Markets Status

As a reminder, MSCI will implement the reclassification of the MSCI Kuwait Indexes from Frontier Markets status to Emerging Markets status in one step coinciding with the November 2020 Semi-Annual Index Review (SAIR).

About MSCI

MSCI is a leading provider of critical decision support tools and services for the global investment community. With over 45 years of expertise in research, data and technology, we power better investment decisions by enabling clients to understand and analyze key drivers of risk and return and confidently build more effective portfolios. We create industry-leading research-enhanced solutions that clients use to gain insight into and improve transparency across the investment process. To learn more, please visit www.msci.com.

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Contacts
Media Inquiries
PR@msci.com
Sam Wang +1 212 804 5244
Melanie Blanco +1 212 981 1049
Rachel Lai +852 2844 9315

MSCI Global Client Service
EMEA Client Service +44 20 7618.2222
Americas Client Service +1 888 588 4567 (toll free)
Asia Pacific Client Service +852 2844 9333

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Moody’s Analytics Wins Seven Risk Technology Awards

NEW YORK-Monday 29 June 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- Moody’s Analytics has won seven categories in this year’s Risk Technology Awards. Five are repeat wins.

3 years in a row:

• Credit Data Provider of the Year
• Wholesale Credit Modelling Software of the Year

2 years in a row:

• Enterprise-Wide Stress Testing Product of the Year
• IFRS 9 – ECL Modelling Solution of the Year
• IFRS 9 – Enterprise Solution of the Year

First-time wins:

• Credit Stress-Testing Product of the Year
• Life and Pensions ALM System of the Year

“We’re honored to have earned seven Risk Technology Awards this year,” said Steve Tulenko, President of Moody’s Analytics. “It is particularly gratifying that these awards recognize both our longstanding capabilities, like credit data and modeling, and newer offerings like pensions ALM and IFRS 9 accounting.”

“We congratulate Moody’s Analytics on another fine showing,” said Antony Chambers, Publisher of Risk. “Seven awards is an impressive accomplishment and showcases their capabilities across credit, finance, regulatory, and accounting functions.”

The Risk Technology Awards recognize outstanding vendors helping the industry in the fields of ALM, credit, operational risk, and enterprise risk management. They are decided by a judging panel of technology users and the editors of Risk.net.

These wins add to our growing list of awards and industry accolades.

About Moody’s Analytics

Moody’s Analytics provides financial intelligence and analytical tools to help business leaders make better, faster decisions. Our deep risk expertise, expansive information resources, and innovative application of technology help our clients confidently navigate an evolving marketplace. We are known for our industry-leading and award-winning solutions, made up of research, data, software, and professional services, assembled to deliver a seamless customer experience. We create confidence in thousands of organizations worldwide, with our commitment to excellence, open mindset approach, and focus on meeting customer needs. For more information about Moody’s Analytics, visit our website or connect with us on Twitter and LinkedIn.

Moody's Analytics, Inc. is a subsidiary of Moody's Corporation (NYSE: MCO). Moody’s Corporation reported revenue of $4.8 billion in 2019, employs approximately 11,300 people worldwide and maintains a presence in 40 countries.

Contacts

JUSTIN BURSZTEIN
Moody’s Analytics Communications
+1.212.553.1163
justin.bursztein@moodys.com
Moody’s Analytics Media Relations

moodysanalytics.com
twitter.com/moodysanalytics
linkedin.com/company/moodysanalytics


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AMAALA Selects Mirage-Inspired Airport Design by Foster + Partners to Take Ultra-Luxury Destination to New Heights

The airport takes inspiration from its dramatic desert environment and will accommodate one million travellers per year on completion

Riyadh, Saudi Arabia-Wednesday 24 June 2020 [ AETOS Wire ]

AMAALA, the ultra-luxury destination located along Saudi Arabia’s northwestern coast, has unveiled plans for a new international airport, with a design inspired by the optical illusion of a desert mirage.

The terminal and control tower design was conceptualised by UK-based architectural and design firm Foster + Partners, while the airport master plan was designed by Egis, an international consultancy and engineering group. It will incorporate unique design practices, drawing inspiration from its location. The airport is due for completion in 2023 and is estimated to accommodate one million travellers per year once it officially opens.

Commenting on the announcement of the new international airport, the Chief Executive Officer of AMAALA, Nicholas Naples, said: “A gateway to AMAALA, visitors will be greeted by personalised experiences from the moment they step off the plane. From design to personalisation, this will be no ordinary airport. Immersed in the spirit of AMAALA, the airport will create an environment that embodies the philosophy of the destination beyond. This will be a unique space that personifies luxury and marks the start of memorable experiences for the world’s most discerning guests. We are delighted to work with Foster + Partners and Egis on this project.”                                                                                     

On approaching the airport, travellers will see stunning land art from the air. Entering the terminal, visitors will be greeted with a sleek mirrored edifice rising from the desert. The structure takes its inspiration from the surrounding environment, resulting in a mesmerising mirage effect. A spacious courtyard will anchor the terminal and will be complemented by contemporary interiors complete with unique artwork and tailored experiences. The airport will reflect AMAALA’s ultra-luxury hospitality spirit, providing an exclusive private-club experience perfectly encapsulating AMAALA’s pillars of art and culture; wellness and sport; and sea, sun, and lifestyle.

Among the list of amenities provided by the airport are climate-controlled hangars that will be available for private jets as well as a ground transfer service that is accessible from inside the arrival hangar.

Senior Executive Partner of Foster + Partners, Gerard Evenden, said, “Responding to the surrounding landscape, the terminal building will form an exclusive gateway to the AMAALA resort. The passenger experience through the entire building will be akin to a private members club – luxurious and relaxing. Focusing on the themes of art, wellbeing and sport, the design seeks to establish a new model for private terminals that provides a seamless experience from resort to aeroplane.”

Middle East & South Asia Aviation Director of Egis, Jacques Khoriaty, said: “Along with embodying the luxurious spirit of the resort, the AMAALA airport meets the highest environmental design and sustainability standards, is operationally versatile and incorporates the latest airport technology and best practice standards on offer. It has been a privilege to have worked closely with AMAALA to define the requirements of this unique project and we look forward continuing our support all the way through to the opening of the airport in 2023.”

For the airport video rendering, please visit here.

Contacts
Muneira Al Adwani

Senior Account Executive

Hill+Knowlton

E: muneira.aladwani@hkstrategies.com

T: +971 4 553 9543





Julia Gajcak

Head of Communications and Events

AMAALA

E: jgajcak@projects.pif.gov.sa

T: +966 53 258 0725

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Downies Collectables Switches to Rimini Street Support for Its SAP Applications

 Australian-based coin and collectables retailer reduces annual IT support costs by 50% and receives ultra-responsive, award-winning support



LAS VEGAS-Tuesday 23 June 2020 [ AETOS Wire ]

(BUSINESS WIRE) -- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that Downies Collectables, one of the southern hemisphere’s largest online retail and auction sites for collectables and numismatic products, has shifted support for its SAP ECC system to Rimini Street Support. The company was not seeing a good ROI for the high support and maintenance costs they were paying the vendor, and needed a responsive support provider that would be available after standard business hours. By switching to Rimini Street Support, Downies Collectables immediately reduced its annual software support spend by 50% and has gained a premium-level, ultra-responsive 24/7/365 support model for its ERP system. Downies Collectables can also maintain its current system for a minimum of 15 years from the time that they switched to Rimini Street, with no required upgrades to remain in full support.

Saving Costs While Unlocking Superior, Around-The-Clock Support

Established in 1932 in Australia, Downies Collectables is a family business specializing in the auction and distribution of numismatics (coins, paper currency, and medals) and collectables, and one of the world’s largest distributors for the Royal Australian Mint and Perth Mint. Seven years ago, the company migrated its SAP system from Business One to ECC. During this time, the company lodged only a few support tickets, and mostly in the early days of the system’s operation. Downies Collectables realized it was paying expensive maintenance and support to the vendor for its robust ECC system, and they felt this was an unnecessary expense.

“We saw maintenance and support from SAP as an important insurance policy, but we were spending far too much on an annual basis for that peace of mind,” said Chris Sealey, Operations Director, Downies Collectables. “Even though we rarely used the support, it was only available during standard business hours. For a website with global reach, coupled with the vendor’s high support costs, we weren’t getting an assurance that we’d receive assistance when we needed it.”

“Rimini Street was brought to my attention by a network of people, and we discovered just how significant the savings would be if we made the switch. From there, the process to switch was smooth, and our discussions were always open with Rimini Street’s team – there were no agendas. And with Rimini Street, we now have access to a higher value, around-the-clock, personalized support for half the cost,” added Sealey.

Achieve IT Cost Optimization Goals While Maintaining Business Continuity

Rimini Street supports clients with uninterrupted service worldwide at all times, including during times of global disruption. Every Rimini Street client benefits from the company’s flexible, premium-level enterprise software support model, including its industry-leading Service Level Agreement (SLA) of less than 15-minute response times for all critical Priority 1 cases. Clients are also assigned a Primary Support Engineer (PSE), backed by a team of technical experts, who have an average of 15 years’ experience in the client’s particular enterprise software system.

“Organizations such as Downies Collectables realize that the annual cost of maintenance and support provided by the vendor is far too expensive for the value received and are increasingly looking at more cost-effective, higher service level options, especially during this time of economic uncertainty,” said Emmanuelle Hose, regional general manager, Australia and New Zealand, Rimini Street. “In a global economy, online operations need to be always on, which means 24/7/365 support is paramount. Our premium support model and industry-leading SLAs ensure that our clients are covered regardless of geography or support issue to ensure business continuity.”

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. Nearly 2,100 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries rely on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (C-RMNI)

Forward-Looking Statements

Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, the duration of and economic, operational and financial impacts on our business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the terms and impact of our outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services we expect to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 7, 2020, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.

© 2020 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200622005380/en/

Contacts

Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
mmcglocklin@riministreet.com


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Sisvel Settles a Dispute With Arris and Ruckus and Provides a License Under Its Wi-Fi Patents

LUXEMBOURG-Tuesday 23 June 2020 [ AETOS Wire ]

(BUSINESS WIRE) -- Sisvel Group, Arris and Ruckus Wireless today announced that they have entered into a Wi-Fi patent license agreement, managed by Sisvel International S.A. Arris and Ruckus Wireless thereby join the growing list of companies around the world that have access to patents licensed by Sisvel Group, including portfolios owned by Hera Wireless S.A., Aegis 11, Enact IP S.A., Fraunhofer IIS, Orange S.A., Koninklijke KPN N.V., Columbia University and Mitsubishi Electronic Corporation, which include patents related to the IEEE Wi-Fi Standards.

The agreement between Arris, Ruckus Wireless and Sisvel settles a dispute related to Arris’s and Ruckus Wireless’s alleged infringement of a number of Wi-Fi patents held by Hera Wireless and Aegis 11 and it provides for a worldwide patent license covering the sale and distribution of certain Wi-Fi enabled Arris and Ruckus Wireless products.

The Hera portfolio originated with Sanyo Electric of Japan and the patents comprising the Aegis portfolio originated with LG Electronics. The Hera and Aegis portfolios are comprised of over 100 and 140 patents respectively and claim a large international coverage with filings in over 40 countries.

“We are pleased to conclude an agreement with Arris and Ruckus Wireless that reflects the strength of Hera’s and Aegis’s patent portfolio, and we are very happy to welcome them to our ever-growing family of licensees.” said Nick Webb, Managing Director of Sisvel Spain S.L.

About Sisvel

Sisvel International S.A. is the holding company of the Sisvel Group. Sisvel is a world leader in fostering innovation and managing IP. The group identifies, evaluates and maximizes the value of IP assets for its partners around the world, providing firms with a revenue stream which can be reinvested in innovation for the generation of future revenues. Sisvel has more than 35 years’ experience in the management of successful patent portfolios, including those relating to audio compression standards (MP3 and MPEG audio), as well as broadcasting and digital terrestrial television standards maintained by the Digital Video Broadcasting Project. Sisvel operates patent pools and joint licensing programs in the fields of mobile communication, wireless local area networking 802.11, video coding, digital video broadcasting, recommendation engines and broadband access to data networks.

For additional information, please visit: www.sisvel.com

Contacts

Media Contact Sisvel Group
Giulia Dini
Communications Manager
Tel: +34 93 131 5570
press@sisvel.com



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