TOKYO & OAKLAND, Calif. - Tuesday, 06. September 2022
(BUSINESS WIRE) -- Skyloom and Space Compass (a newly formed joint venture between NTT and SKY Perfect JSAT) today announced that the companies signed a term sheet aimed to launch the first geostationary-based (GEO) data relay service over Asia that will leverage Skyloom’s cutting-edge communication and networking systems for the purpose of serving the rapidly growing Earth-Observation (EO) market for real-time, high-capacity, direct-to-cloud data transfer. The companies plan to deploy the first network infrastructure node over Asia in 2024 and anticipate expanding the GEO constellation to provide additional capacity and global coverage by 2026.
Global EO providers are rapidly expanding their constellations, thus creating immense amounts of data, typically in low-earth-orbit (LEO). The Compass-Skyloom system will provide an avenue for immediate, cost-effective transfer of EO data via GEO satellite direct to cloud so that their customers and end-users can leverage perishable information on a real-time basis. The system will rely on optical/laser communications terminals, enabling fibreless optical communications at the speed of business. The partnership combines the space heritage and operations experience of SKY Perfect JSAT, the telecommunications prowess of NTT, and the cutting-edge innovation of Skyloom to unveil both a joint architecture and service for the EO market.
"This new team, leveraging the state-of-the-art telecom technology and infrastructure solutions of Skyloom, will enable us to jointly deliver best-in-class service to our earth observation customers,” said Koichiro Matsufuji, Co-CEO, Space Compass.
“Skyloom is thrilled to be joining forces with Space Compass – which draws on the strengths of two market leaders in space operations and telecommunications. Together we look forward to providing groundbreaking data transport capabilities to the earth observation market, and this is only the beginning of what’s to come,” said Marcos Franceschini, Founder & CEO, Skyloom Global.
"By this partnership, we are excited to be able to provide ultra high-speed and real time data relay in a very economical manner for our customers as a first step toward a larger non-terrestrial network. We believe optical data relay technology is a keystone to innovate networking and computing in orbit between GEO, LEO and ground,” added Shigehiro Hori, Co-CEO, Space Compass.
About Space Compass Corporation
Space Compass is a joint venture company between NTT, Japanese ICT giant, and SKY Perfect JSAT Corporation, Asia’s largest satellite operator. We will launch a Space Integrated Computing Network to aid the realization of a sustainable society. For more information, visit our corporate website, space-compass.com.
About Skyloom Global Corporation
Skyloom is an Oakland, CA-based telecommunications innovator founded with the mission to develop, deploy, and operate one of the fundamental pieces of tomorrow's space communication infrastructure for the provision of data transport services on a planetary scale. They leverage deep heritage in space optical communications to enable real time data transfer so that customers and decisionmakers can leverage perishable information. www.skyloom.co
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Contacts
Brittany Solano
brittany@jones-dilworth.com
Wednesday, September 7, 2022
Space Compass and Skyloom Sign a Term Sheet to Bring Optical Data Relay Services to the Earth Observation Market
Tuesday, September 6, 2022
NTT: World's Largest Capacity of 1.2 Tbit/s Per Wavelength Achieved by Newly Developed Digital Coherent Signal Processing Circuit and Optical Device
TOKYO - Tuesday, 06. September 2022
For larger capacity, longer transmission distances, and lower power consumption in optical networks
(BUSINESS WIRE) -- NTT Corporation (NTT, Head office: Chiyoda-ku Tokyo; President & CEO: Akira Shimada) has developed a digital coherent signal processing circuit and optical device that achieves the world's largest capacity of 1.2 Tbit/s per wavelength for optical transmission, which is 1.5 times faster than before. With this development, NTT tackles the challenge of achieving advanced optical transmission technology that can economically and significantly expand the capacity of existing systems while reducing the power consumption of communication devices.
The technology has also achieved the world’s highest optical signal modulation speed of 140 Giga baud and enables double the previous world record optical transmission distance of 800 Gbit/s. As a result, the capacity of optical transmission systems will increase by 12 times and the power consumption per bit will be reduced to 10% of the widely used commercial system. The improvements in the performance and power consumption of optical transmission systems should contribute to the All-Photonics Network foundational to the IOWN1 concept.
Our digital coherent signal processing circuit combines cutting-edge coded modulation with transmission performance approaching the theoretical limit and newly developed forward error correction that can correct bit errors in large amounts of data with low power consumption. This results in flexible coded modulation that maximizes the potential of high-speed optical devices. Furthermore, by utilizing a power-efficient algorithm to equalize signal distortion in the optical fiber transmission channel and the advanced CMOS processes, we have achieved a digital signal processing of 1.2 Tbit/s per wavelength with low power consumption.
The transceiver consists of a cutting-edge digital coherent signal processing circuit and a 140-Giga baud class optical device with the world's widest-class opto-electrical response bandwidth. In our approach, by increasing the modulation speed from 100 Giga baud to 140 Giga baud, higher resistance to waveform distortion and optical amplification noise caused by transmission could be achieved. As a result, the previous record transmission distance of 800 Gbit/s signals can be extended by more than twice that of the 100 Giga baud devices.
Toward the development of IOWN, NTT aims to create an innovative network with high capacity, low latency, flexibility, and low power consumption by continuing to expand and develop end-to-end photonics technology. We will promote the creation of economical, large-capacity, low-power-consumption networks by leveraging advanced optical transmission systems based on innovative technology. We also intend to collaborate with both international and domestic partners so that our developments can be valuable and beneficial for communities worldwide. You can access the full report about this development here.
1 IOWN: https://group.ntt/jp/newsrelease/2019/05/09/190509b.html (Japanese)
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Contacts
Media Contact
NTT Corporation
Science and Core Technology Laboratory Group, Public Relations Section
nttrd-pr@ml.ntt.com
GALDERMA Showcases Its Continued Commitment to Innovation in Dermatology With New Data to Be Presented at 2022 EADV Congress
ZUG, Switzerland - Tuesday, 06. September 2022
- Galderma, the pure-play dermatology category leader with a 40+ year
heritage in dermatology, will present one oral, six symposia and four
hub sessions demonstrating its scientific expertise and ongoing
commitment to advancing dermatology
- 18 scientific and clinical posters will unveil new data on skin
disease awareness and scientific innovation in prurigo nodularis,
sensitive skin, acne, rosacea, non-melanoma skin cancer and
onychomycosis
(BUSINESS WIRE) -- Galderma has announced it will be showcasing its latest scientific updates at the 31st European Academy of Dermatology and Venereology (EADV) congress in Milan, September 7-10, 2022. These include on-site clinical data presentations, a symposia series and booth activities, all focusing on serving patients by providing options across the Therapeutic Dermatology, Dermo-cosmetics and Injectable Aesthetics categories. As the pure-play dermatology leader, Galderma’s significant presence at EADV reaffirms its commitment to delivering a truly innovative, science-based portfolio of premium cutting-edge brands and services.
The latest science presented by Galderma at EADV reflects the company’s significant investments in research and development with large trials across multiple indications for severe conditions such as prurigo nodularis, atopic dermatitis, acne, rosacea, non-melanoma skin cancer and onychomycosis. For over 40 years, Galderma has solely focused on dermatology and has proven to be one of the few players capable of providing not only best-in-class product solutions but also first-in-class solutions with new innovative modes of action. Today, Galderma is a leading scientific voice in these disease areas and remains committed to delivering further advances for patients with these and other severe skin concerns.
One of the most awaited updates from the company this year will be a focus on IL-31, a neuroimmune cytokine that has been demonstrated to be a central mediator in prurigo nodularis and atopic dermatitis. The cytokine acts as a bridge between the immune and nervous systems and plays a crucial role in igniting and fueling the pathophysiological aspects, including itch and inflammation1,2. Two symposia and eight scientific posters will examine the disease burden, the role of IL-31 in these inflammatory skin conditions and treatments under development.
Another area of focus for Galderma will be on sensitive skin, which affects a major portion of the population with over 70% of women reporting suffering from its effects3. With its strong consumer skin range dedicated to sensitive skin including Cetaphil and the recent acquisition of Alastin Skincare, Galderma understands the need for specifically designed treatments and personalized skincare regimes. At the EADV this year, Galderma, along with key opinion leaders, will be challenging the existing paradigms on sensitive skin and challenging the community on whether it should be considered as a standalone skin condition.
Other skin conditions that drive patients to their dermatologist are acne, rosacea, actinic keratosis and non-melanoma skin cancer, conditions that affect a significant cross-section of society. Galderma has been researching these conditions and bringing innovative products to patients and consumers for decades. At EADV, the company will present new data and host scientific meetings and discussions to look at novel patient-centered, holistic approaches in each of these areas to support the identification of the best personalized treatment regimens for each patient.
Galderma’s significant presence at EADV this year reflects its expertise across these common and often severe skin conditions and is testament to its commitment to advancing dermatology for every skin story.
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“We look forward to engaging with the dermatology community at the BALDO SCASSELLATI SFORZOLINI, M.D.
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Below is a full list of activities taking place.
Prurigo nodularis and atopic dermatitis
- Thinking differently about atopic dermatitis: It’s time for a new perspective – September 9, 1:00 PM - 2:00 PM CEST (Room: AMBER 3 and 4). Chaired by Professor Diamant Thaçi (Germany) and featuring Professor Marjolein de Bruin-Weller (Netherlands) and Professor Andreas Wollenberg (Germany)
- Navigating new data in prurigo nodularis: restoring hope for patients – September 10, 1:00 PM - 2:00 PM CEST (Room: CORAL 6). Chaired by Professor Sonja Ständer (Germany) and Professor Giampiero Girolomoni (Italy), and featuring Professor Doctor Shawn Kwatra (U.S.) and Professor Doctor Bernhard Homey (Germany)
Sensitive skin
- Simplifying sensitive skin: can we define it as a standalone skin condition? – September 7, 1:00 PM - 2:00 PM CEST (Room: CORAL 6). Chaired by Professor Giovanni Pellacani (Italy) and featuring Professor Adam Friedman (U.S.) and Doctor Krzysztof Piotrowski (Switzerland)
Acne
- A novel patient-centered approach for acne management – September 8, 1:00 PM - 2:00 PM CEST (Room: CORAL 6). Co-chaired by Professor Alison Layton (UK) and Professor Doctor Jerry Tan (Canada), and featuring Doctor Vincenzo Bettoli (Italy)
- Opportunities for a holistic approach to acne vulgaris management – September 9, 9:15 AM -10:00 AM CEST (Room: HUB 2.05). Featuring Professor Brigitte Dreno (France), Professor Gabriella Fabbrocini and Doctor Magda Belmontesi (Italy)
- Acne update: Recent advances on skin microbiome, strain co-residence of C. acnes and treatment best practices – September 9, 4:00 PM - 4:45 PM CEST (Room: HUB 2.08). Featuring Professor Brigitte Dreno (France) and Professor Tami Lieberman (U.S.)
Rosacea
- Clinical challenges in rosacea: overcoming obstacles on the road to treatment optimization – September 8, 6:00 PM - 7:30 PM CEST (Room: CORAL 6). Featuring Professor Doctor Giuseppe Micali (Italy), Professor Doctor Martin Schaller (Germany) and Professor Doctor Jerry Tan (Canada)
Actinic keratosis / non-melanoma skin cancer
- An integrated approach for actinic keratosis and non-melanoma skin cancer management – September 8, 2:30 PM - 3:15 PM CEST (Room: HUB 2.03). Chaired by Professor Merete Haedersdal (Denmark) and featuring Professor Claas Ulrich (Germany) and Doctor Magda Belmontesi (Italy)
- Beyond the lesion: Expert recommendations for longitudinal, patient-centered actinic keratosis management – September 9, 6:00 PM - 7:30 PM CEST (Room: AMBER 3 and 4). Co-chaired by Professor Rolf-Markus Szeimies (Germany) and Professor Colin Morton (UK) and featuring Professor Piergiacomo Calzavara-Pinton (Italy)
- Personalizing Actinic Keratosis Treatment (PAKT): Expert recommendations to support patient-centered management of actinic keratosis (oral presentation) – September 10, 10:15 AM CEST (Room: BROWN 2, FC05: Free comms in cutaneous oncology and genetics). Featuring Professor Rolf-Markus Szeimies (Germany)
Onychomycosis
- Onychomycosis update: Quantified penetration profile of topical amorolfine in infected human nails – September 8, 9:15 AM - 10:00 AM CEST (Room: HUB 2.01). Featuring Professor Martin Schaller (Germany)
A broad range of new scientific data posters has been accepted for EADV this year and can be provided upon request.
About Galderma
Galderma is the pure-play dermatology category leader, present in
approximately 90 countries. We deliver an innovative, science-based
portfolio of premium flagship brands and services that span the full
spectrum of the fast-growing dermatology market through Injectable
Aesthetics, Dermo-Cosmetics and Therapeutic Dermatology. Since our
foundation in 1981, we have dedicated our focus and passion to the human
body’s largest organ – the skin – meeting individual consumer and
patient needs with superior outcomes in partnership with healthcare
professionals. Because we understand that the skin we’re in shapes our
lives, we are advancing dermatology for every skin story. Galderma’s
portfolio of flagship brands includes Restylane, Dysport, Azzalure,
Alluzience and Sculptra in Injectable Aesthetics; Soolantra, Epiduo,
Differin, Aklief, Epsolay, Twyneo, Oracea, Metvix, Benzac and Loceryl in
Therapeutic Dermatology; and Cetaphil and Alastin in Dermo-cosmetics.
For more information: www.galderma.com.
References
1.Williams KA, Roh YS, Brown I, et al.
Pathophysiology, diagnosis, and pharmacological treatment of prurigo
nodularis. Expert Rev Clin Pharmakoi.2021;14(1):67-77.
doi:10.1080/17512433.2021.1852080
2. Nemmer JM, Kuchner M, Datsi A, et al. Interleukin-31 signaling
bridges the gap between immune cells, the nervous system and epithelial
tissues. Front Med (Lausanne). 2021;8: 639097.
doi:10.3389/fmed.2021.639097
3. Farage, Miranda A. “The Prevalence of Sensitive Skin.” US National Library of Medicine National Institutes of Health, www.ncbi.nlm.nih.gov/pmc/articles/PMC6533878.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220905005330/en/
Contacts
Christian Marcoux, M.Sc.
Chief Communications Officer
christian.marcoux@galderma.com
+41 76 315 26 50
Rachel Mooney
Global Franchise Communications
rachel.mooney@galderma.com
+41 76 261 64 41
Tracy Krumme
Global Head of Investor Relations
investors@galderma.com
+1-817-961-5530
Sébastien Cros
Corporate Communications Director
Sebastian.cros@galderma.com
+41 79 529 59 85
Andersen Global Broadens Footprint in Ethiopia with Tax Firm HIMA
SAN FRANCISCO - Tuesday, 06. September 2022 AETOSWire
(BUSINESS WIRE)--Andersen Global continues its African expansion with the addition of collaborating firm HIMA, an Ethiopian tax firm based in Addis Ababa.
Led by Managing Partner Nabiyu Feto and founded in 2015, HIMA works closely with clients to provide comprehensive tax solutions for their business needs in the emerging Ethiopian market.
“The Ethiopian tax market is a developing industry and continuously evolving,” said Nabiyu. “Over the past few years, our firm has become one of the leading firms in the market. Our collaboration with Andersen Global enhances our service capabilities so we can continue to meet client needs with the additional resources and support from a global firm.”
“Nabiyu has built a strong practice in Ethiopia, demonstrating the firm’s commitment to stewardship,” said Andersen Global Chairman and Andersen CEO Mark Vorsatz. “Their extensive knowledge of the market will be invaluable to our clients as tax is still a developing industry in the country and they maintain a competitive edge in the market. This collaboration positions us for further growth as we aim to build out our presence and capabilities in Africa.”
Andersen Global is an international association of legally separate, independent member firms comprised of tax and legal professionals around the world. Established in 2013 by U.S. member firm Andersen Tax LLC, Andersen Global now has more than 12,000 professionals worldwide and a presence in over 380 locations through its member firms and collaborating firms.
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Contacts
Megan Tsuei
Andersen Global
415-764-2700
CellPoint Digital partners with Radisson Hotel Group
The new strategic partnership will deliver a range of benefits to the Group and its customers
(BUSINESS WIRE) -- CellPoint Digital, the global leader in payment orchestration, today announces a new partnership with Radisson Hotel Group.
Radisson Hotel Group is one of the largest international hotel groups. The Radisson family of brands can be found around the world in more than 120 countries. Radisson Hotel Group operates the business in EMEA and APAC with over 1,000 hotels in operation and under development. The Group will now use CellPoint Digital’s full payment orchestration platform to seamlessly integrate new payment methods, new acquirers and stored card facilities. By orchestrating payments across regions and payment methods, CellPoint Digital’s innovative platform will allow Radisson Hotel Group to optimize a multi-acquirer payments model that opens new opportunities for growth.
It also helps increase top-line revenue by utilizing intelligent routing, increasing authorizations, providing system uptime transparency, and reduces the cost of accepting cross-border payments. This will reduce costs, increase acceptance rates and ultimately lead to a better customer experience.
Commenting on the partnership, CellPoint Digital CEO, Kristian Gjerding, said: “After researching the impressive results our global airline clients have enjoyed, Radisson Hotel Group decided we were the right Payment Orchestration partner to help it revolutionize how payments are handled across its locations. This is a very competitive environment, and we are proud to have been chosen by the Group, which has such an incredible reputation in the hospitality field.
“For many hotels, local payment methods and alternative payment options can be challenging to navigate. But getting payments right can unlock new opportunities for hotels to grow revenue, both in the short and long term. CellPoint Digital’s aim for this partnership is to help Radisson Hotel Group achieve its vision of transforming how it orchestrates international payments.”
This is a strategic win for both CellPoint Digital and Radisson Hotel Group. It allows CellPoint Digital to capitalize on its leadership position within the airline space for Payment Orchestration to deliver significant value to the hospitality industry.
Philippe de Roose, SVP Tax & Treasury Radisson Hotel Group, added: “We chose CellPoint Digital because the senior team was impressed with their solution and appreciated its flexibility and innovative approach to help our customers pay in the payment method and currency that they prefer in the most optimal and beneficial way for Radisson Hotel Group. Crucially, both organizations have a shared desire to work collaboratively and get things done.”
News of the partnership comes after it was revealed that business leaders within the hospitality industry see the offering of a variety of payment choices (42%), payment fraud and security (40%) and the refund process (28%) as their most significant challenges this year.
For more details, visit https://cellpointdigital.com/.
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Contacts
Cellpointdigital@skyparlour.com
07803204780
BRINGING AN ARAB PERSPECTIVE TO AI
Doha, Qatar
QF’s edutainment TV show Stars of Science highlights innovators looking to write locally relevant narratives about Artificial Intelligence
When hundreds of aspiring young Arab innovators converged in Doha this week to audition to be a part of the top seven on Qatar Foundation’s Stars of Science Season 14, Artificial Intelligence featured prominently throughout.
Stars of Science hosted the auditions at Qatar Science & Technology Park, a member of Qatar Foundation (QF), with a wide range of ideas spanning from healthcare and education to environmental sustainability and workplace safety. Terms such as machine learning, speech recognition, and expert systems were commonplace throughout this year’s auditions.
The heavy use of artificial intelligence (AI) mirrors a rapidly growing trend throughout the world – and especially the Arab world. According to a report published by Economist Impact and Google titled ‘Pushing Forward: The Future of Artificial Intelligence in the Middle East and North Africa’, the region is estimated to accrue $320 billion by 2030 from value added by AI.
“We are entering a golden age for AI research and development in the Arab world. Ambitious national strategies and staggering amounts of investment symbolize just how the region has embraced the potential of AI and the endless opportunities that come with it,” said Dr. Ahmed Elmagarmid, Executive Director of Qatar Computing Research Institute, part of Hamad Bin Khalifa University – also a member of QF – who returns to this year’s season of Stars of Science as an AI expert.
However, while the region has demonstrated a deep commitment to realizing a future with AI, the global discourse surrounding this field of study often excludes Arab perspectives, according to the Global AI Narratives Project, a collaboration between the Leverhulme Centre for the Future of Intelligence at the University of Cambridge.
“We in the Arab world are clearly underrepresented in the ongoing discussions surrounding AI, which has a tangible impact on those of us who masterfully engage with the technology and its various applications. Our concerns, needs, and ideas of what role AI can serve are often overshadowed, and so we must work even harder to overcome these biases,” added Dr. Elmagarmid.
QF’s Stars of Science tackles this issue and empowers Arab innovators aiming at introducing new AI-powered solutions. The show puts contestants in touch with experts from the country’s various AI-focused research entities, encouraging them to turn ideas into tangible products that envision locally relevant applications of this powerful technology.
Several of the show’s alumni have tailored AI to better suit the region’s culture and needs. Season 12 contestant Eiman Al Hamad, from Qatar, created the Arabic Conversation Fraud Detection program, filling in the Arabic-language gap among contemporary phone fraud prevention technologies. Her fellow contestant Ahmad Fathalla, from Egypt, designed the Educational Platform Using Electronic Cubes, which utilizes machine learning algorithms to analyze children’s learning patterns to better diagnose early development problems.
Another aspect that is helping Arab youth challenge these narratives is the promising state of talent development in the region. Local educational institutions focusing on AI are keeping pace with the rest of the world, with three Arab institutes – all established from as recently as 2009 onwards – ranking among the top 210 in the world in the fields of AI, computer vision, machine learning, and natural language processing, according to CSRankings.org.
Qatar is also adapting to this new landscape with the recently established University of Doha for Science and Technology (UDST), the country’s first university of applied sciences. This year, the university celebrated its first graduating cohort – including its first class of B.S. in data science and artificial intelligence graduates.
“The region is tapping into the incredible potential of AI. By setting up world-class institutions locally, we can ensure that we retain our brightest minds and bring an Arab perspective to the prevailing AI narrative. This will help develop new AI applications to solve problems relevant to our region, enabling our communities to develop exponentially,” said Dr. Rachid Benlamri, Vice President, Academic Affairs, UDST.
While AI continues to play a larger role in our lives, the global discourse surrounding it often excludes Arab perspectives, leading to technologies that do not adequately serve the region’s needs. Talent development initiatives throughout the region, such as Stars of Science, are helping young Arabs change the narrative to include their voices and that of their communities.
Stars of Science will air every Friday and Saturday from September 2, 2022, to October 14, 2022, on six channels in the region and online. Please visit the broadcast guide for channels and timings at starsofscience.com.
About Stars of Science:
As the premier innovation show in the Arab world, Stars of Science – the edutainment TV initiative of Qatar Foundation (QF) – empowers Arab innovators to develop technological solutions for their communities aiming to improve people’s well-being, provide financial opportunities to their local citizens, and advance sustainable development.
Over a 12-week process, the contestants demonstrate the effectiveness of their solutions in a shared innovation space, competing against time with the support of a team of experienced engineers and product developers.
An expert panel of jurors assess and eliminate innovators and their projects every week across several prototyping and testing rounds, until three finalists remain to compete for a share of the Grand Prize. Jury deliberation and online voting from the public determine the rankings of the two winners.
Please visit:
Website - www.starsofscience.com
Facebook - https://www.facebook.com/StarsofScienceTV
Twitter - https://twitter.com/starsofscience
YouTube - http://www.youtube.com/user/Starsofsciencetv
Instagram - https://www.instagram.com/starsofsciencetv/?hl=en
Tik Tok - https://www.tiktok.com/@starsofscience?lang=en
About Qatar Foundation – Unlocking Human Potential
Qatar Foundation for Education, Science and Community Development (QF) is a non-profit organization that supports Qatar on its journey to becoming a diversified and sustainable economy. QF strives to serve the people of Qatar and beyond by providing specialized programs across its innovation-focused ecosystem of education, research and development, and community development.
QF was founded in 1995 by His Highness Sheikh Hamad bin Khalifa Al Thani, the Father Amir, and Her Highness Sheikha Moza bint Nasser, who shared the vision to provide Qatar with quality education. Today, QF’s world-class education system offers lifelong learning opportunities to community members as young as six months through to doctoral level, enabling graduates to thrive in a global environment and contribute to the nation’s development.
QF is also creating a multidisciplinary innovation hub in Qatar, where homegrown researchers are working to address local and global challenges. By promoting a culture of lifelong learning and fostering social engagement through programs that embody Qatari culture, QF is committed to empowering the local community and contributing to a better world for all.
For a complete list of QF’s initiatives and projects, please visit: www.qf.org.qa
To stay up to date on our social media activities, follow our accounts on: Instagram, Facebook, Twitter and LinkedIn.
For any media inquiries, please contact: pressoffice@qf.org.qa
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Contacts
Salma Sadek – Weber Shandwick
SOS@webershandwick.com
+974 3107 3584
Monday, September 5, 2022
3i Infrastructure plc Completes Acquisition of Global Cloud Xchange
HAMILTON, Bermuda - Monday, 05. September 2022
Investment strengthens global position of world’s largest private subsea fiber optic network operator
(BUSINESS WIRE)--Global Cloud Xchange (“GCX” or “the company”) today announces the completion of 3i Infrastructure plc’s (“3i Infrastructure”) $512m investment to acquire a 100% stake in GCX, a leading global data communications service provider and owner of the world’s largest private subsea fiber optic networks. The transaction closed with the help from advisors, Moelis & Company, and following receipt of all required regulatory approvals.
GCX provides high-bandwidth connectivity and global managed network services including managed ICT, cyber security, and UCaaS solutions, to a range of blue-chip customers inclusive of hyperscalers, telecommunications operators, new media providers and enterprises throughout the world. Its 66,000km of cables span 46 countries from North America to Asia, with a particularly strong position on the Europe-Asia and Intra-Asia routes. 3i Infrastructure is partnering with GCX’s management team to invest in a leading platform for the sector, with the goal to increase the utilized capacity on GCX’s existing routes as well as to add new routes, services and customers.
During this period, global data traffic demand growth continues to exceed 25 percent per annum. At the same time, increasing demand for digital transformation is driving demand for global managed network services, with growth estimates approaching 10 percent per year. 3i’s acquisition of GCX will enable additional strategic investment in systems and services to create future value for customers. In July, GCX announced strong cash flow and steady linear growth, supporting increasing needs for fiber optic interconnectivity in both established hubs and emerging markets across its world-leading privately owned submarine networks.
“With 3i Infrastructure’s backing, GCX is well-positioned to support global growth and customer needs in key markets, including connectivity to India, across the Middle East, and enhanced managed services opportunities across Europe,” said Carl Grivner, GCX CEO. “Our global teams continue to create innovative solutions to help customers grow with us.”
GCX enables new media providers, telecom carriers and enterprises to leverage growth opportunities and improve resilience through strategic subsea network capacity and diverse route offerings in high growth markets. The company’s network capabilities are supported by a team of industry experts providing consultative solutions, managed ICT, cyber security, and UCaaS services to some of the world’s most notable brands.
“GCX represents a great addition to the 3i Infrastructure portfolio,” said Scott Moseley, 3i Managing Partner and Co-Head of European Infrastructure. “The company holds a valuable leadership position in an attractive and growing sector and we look forward to working with Carl Grivner and his experienced management team to continue GCX’s growth.”
For more information, visit www.globalcloudxchange.com.
About Global Cloud Xchange
GCX Holdings Limited (Bermuda), operating as Global Cloud Xchange (GCX), offers network services that power digital transformation for enterprises, new media providers, and telecoms carriers. We cover all aspects of cloud-centric connectivity from managed SD-WAN and hybrid networks, to direct Cloud connections and 100 Gbps+ waves. With a pedigree going back 30+ years, GCX are experts in providing connectivity throughout Europe, Middle East, Asia and North America via the vast GCX subsea network (the world’s largest private submarine cable network), with extensions available into more than 200 countries worldwide. To learn more about GCX, follow us on Facebook, LinkedIn, and Twitter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220902005166/en/
Contacts
Media Contact for GCX:
Ilissa Miller
iMiller Public Relations
Tel: +1.866.307.2510
Email: gcx@imillerpr.com