Monthly Archives: October 2020

PR Newswire

Smartphone-based Solutions Boost the Global Infectious Disease Point-of-Care Testing Market at an Explosive CAGR of 70.2% in 2020

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Digital POCT platforms will enable diagnostic testing beyond the clinic, transforming how assay results are gathered and analyzed, finds Frost & Sullivan

SANTA CLARA, California, Oct. 2, 2020 — Frost & Sullivan’s recent analysis, Smartphone-based Solutions Spur the Global Infectious Disease Point-of-Care Testing Market, Forecast to 2024, finds that the outbreak of the COVID-19 pandemic has transformed the infectious disease point-of-care testing (POCT) market. The emergence of cost-effective lab-on-a-chip and smartphone-based POCTs, alongside increasing reliance on less-invasive testing methodologies, will propel the POCT market. Globally, the infectious disease POCT market is estimated to witness more than a three-fold growth, reaching $26.4 billion by 2024 from $7.9 billion in 2019, up at a compound annual growth rate (CAGR) of 27.3%.

Smartphone-based Solutions Boost the Global Infectious Disease Point-of-Care Testing Market at an Explosive CAGR of 70.2% in 2020
Smartphone-based Solutions Boost the Global Infectious Disease Point-of-Care Testing Market at an Explosive CAGR of 70.2% in 2020

For further information on this analysis, please visit: http://frost.ly/4l1.

"The POCT instrument selection process should involve close collaboration with supply and clinical engineering departments to incorporate their input and feedback," said Amartya Bose, Healthcare Industry Analyst at Frost & Sullivan. "This is a key consideration when the POCT committee reviews all options and makes an informed decision. Hospitals/labs/pharmacies should select regional vendors for device procurement and services. This will reduce the procurement lead time and ensure devices are managed for quality assurance, timely calibrations, and interpretation of results."

Nitin Naik, Life Sciences Vice President at Frost & Sullivan, added: "The application of artificial intelligence (AI) and machine learning (ML) is a key growth opportunity for manufacturers to enhance their product portfolios. By leveraging these platforms, POCT assay menus can be expanded for different patient groups by simply iterating the product development cycle. U.S. healthcare providers are also leveraging digital POCT along with virtual assistants to screen and triage asymptomatic patients."

To capitalize on growth opportunities in the current and post-COVID-19 situation, POCT market participants should focus on the following solutions:

  • Multiplexed POCT: Integrate sample preparation and analysis within one device to offer more advantages in a competitive environment.
  • COVID-19 POCT: Develop accurate serology tests and mHealth-based diagnostics, as they will play a critical role in determining the disease’s full scope, combating the pandemic.
  • Digital POCT: Adopt cloud technologies as an integral part of device development to reduce the footprint and cost of POCT devices.
  • Millennials and sexually transmitted infections (STIs): Produce HIV/syphilis dual tests as evidence suggests a two- to five-fold increased risk of acquiring HIV if exposed to it when syphilis is present.

Smartphone-based Solutions Spur the Global Infectious Disease Point-of-Care Testing Market, Forecast to 2024 is the latest addition to Frost & Sullivan’s Healthcare research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Smartphone-based Solutions Spur the Global Infectious Disease Point-of-Care Testing Market, Forecast to 2024
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Contact:
Mariana Fernandez
Corporate Communications
P: +1 210 348 10 12
E: Mariana.Fernandez@frost.com
http://ww2.frost.com

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PR Newswire

Diginex Lists and Begins Trading on Nasdaq

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Diginex is the first company with a cryptocurrency exchange to be listed on Nasdaq

HONG KONG, Oct. 2, 2020 — Diginex Limited ("Diginex" or the "Company"), a digital assets financial services company, announced today that it has completed its business combination transaction (the "Transaction") with 8i Enterprises Acquisition Corp. (Nasdaq: JFK) ("8i"), a special purpose acquisition company ("SPAC"). The Transaction, which was approved at a Special Meeting of Shareholders on September 15, 2020, creates the first listed company on Nasdaq with a cryptocurrency exchange.

Diginex Limited will trade on Nasdaq under the ticker symbol "EQOS" where it will offer investors the opportunity to participate in the growth of digital assets. The Company’s warrants will trade under the ticker "EQOSW".

Approximately US$50 million was raised, comprising both Diginex’s private raise completed in advance of the listing and the cash remaining in the SPAC. This will strengthen the Company’s balance sheet and will enable it to realize its vision to build a digital assets ecosystem that offers innovative product and services that are compliant, fair and trusted.

Richard Byworth, CEO of Diginex, commented, "This is a watershed moment for both Diginex and the cryptocurrency industry with the listing of the first-ever company with a crypto exchange on Nasdaq. This also presents the first opportunity for anyone trading in the US capital markets to buy directly into the equity of a digital asset ecosystem and opens the door for financial institutions to participate in the enormous opportunity that digital assets present."

"Diginex offers a unique set of innovative products and institutional-grade infrastructure. Our EQUOS.io exchange is regulatory-focused and will offer features such as segregation of duties, portfolio margining, and cross collateralization, which are not commonly available in the crypto exchange marketplace."

"While EQUOS.io forms the core of our ecosystem, we are also the first company to have an integrated offering comprising a regulated asset manager, cold and warm custody solutions, and capital markets advisory as well as a multivenue trading platform that plugs into some of the world’s leading trading technology providers."

Chi-Won Yoon, Chairman of Diginex said: "We are delighted to have reached this milestone for both the industry and Diginex. The Nasdaq listing demonstrates our commitment to bringing transparency and accountability to the digital assets industry. This should give investors greater assurance about the long-term growth and viability of this asset class."

Chardan acted as a financial advisor and Loeb and Loeb LLP acted as legal counsel to 8i. Winston & Strawn LLP acted as legal counsel to Diginex.

About Diginex

Diginex is a digital assets financial services company focused on delivering a cryptocurrency and digital assets ecosystem offering innovative product and services that are compliant, fair and trusted. The group encompasses cryptocurrency exchange EQUOS.io as well as an over-the-counter trading platform. It also offers a front-to-back integrated trading platform Diginex Access, a securitization advisory service Diginex Capital, market leading hot and cold custodian, Digivault and funds business Bletchley Park Asset Management. For more information visit: https://www.diginex.com/

Follow Diginex on social media on Twitter @DiginexGlobal, on Facebook @DiginexGlobal, and on LinkedIn. Follow EQUOS.io on social media on Twitter @EQUOS_io and on LinkedIn.

Forward Looking Statements

This press release includes forward looking statements that involve risks and uncertainties. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. These risks and uncertainties include, but are not limited to, those factors described in the section entitled "Risk Factors" in Diginex’s Registration Statement on Form F-4 jointly filed bv Diginex and 8i pertaining to the Business Combination (the "Form F-4"). Important factors, among others, that may affect actual results or outcomes include; the inability to recognize the anticipated benefits of the proposed transaction, which may be affected by, among other things, the amount of cash available following any redemptions by 8i shareholders; the ability to meet Nasdaq’s listing standards following the consummation of the proposed transaction; and costs related to the proposed transaction. Important factors that could cause the combined company’s actual results or outcomes to differ materially from those discussed in the forward-looking statements include: Diginex’s limited operating history and history of net losses; Diginex’s ability to manage growth; Diginex’s ability to execute its business plan; Diginex’s estimates of the size of the markets for its products; the rate and degree of market acceptance of Diginex’s products; Diginex’s ability to identify and integrate acquisitions; potential litigation involving Diginex or the validity or enforceability of Diginex’s intellectual property; general economic and market conditions impacting demand for Diginex’s products and services; and such other risks and uncertainties as are discussed in 8i’s prospectus filed in connection with its initial public offering and the proxy statement to be filed relating to the business combination.

Diginex expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Diginex’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

Related Links :

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PR Newswire

20% of the World’s Countries Now Use BitSight to Protect National Security

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Governments bolster critical infrastructure security through real-time monitoring and information sharing

BOSTON, Oct. 2, 2020 — BitSight, the Standard in Security Ratings, has reached a critical milestone, with 38 countries, representing one-fifth of all governments worldwide, now using BitSight solutions to monitor and manage cyber risk to critical national infrastructure. BitSight works with national governments to help manage national cyber risk through security ratings and analytics, which provide visibility and awareness of security performance of critical national infrastructure that can be used to identify vulnerabilities at scale, model systemic risk, enable close collaboration to reduce the likelihood of a national incident, and measure the effectiveness of policy. Countries with government organizations using BitSight include Belgium, Brazil, Germany, Iceland, The Netherlands, Spain, and the United States.

The vulnerability of national critical infrastructure on a global scale is being thrust into the limelight through attacks on hospitals, the defense industrial base, energy companies, and even medical research. Governments around the world lack visibility into the security performance of critical infrastructure and struggle to determine the effectiveness of the policies they enact. By leveraging BitSight, countries across the globe are able to gain new insight into aggregated risk, vulnerability, and security effectiveness of critical infrastructure and make data-driven decisions to reduce risk.

At the onset of the COVID-19 pandemic, BitSight partnered with the National Education and Research Network (Rede Nacional de Ensino e Pesquisa — RNP) in Brazil to help to protect Brazilian health institutions in its backbone against potential cyber attacks. RNP is an advanced national network for higher education, research, and innovation that enables collaboration and communication in the fields of teaching and research. "At this moment, it is fundamental to support health institutions that are experiencing high demand for their services," said the Executive Director of RNP, Eduardo Grizendi. "Any unavailability or security incident can cause serious damage to patients and users."

The BitSight platform makes it possible for the RNP to assess the cyber risk of health institutions during the pandemic. According to Emilio Nakamura, Chief Information Security Officer of the RNP, "there was a great complementarity between BitSight and the other solutions already used by the security team (CAIS) which improved the RNP’s ability to monitor institutions and help them prevent and address their problems."

In Belgium, BitSight partnered with a government agency and Agoria, a large professional association of more than 2,000 technology-inspired companies, to directly engage with a large number of important companies to understand and improve their cybersecurity posture leveraging BitSight data and metrics.

"During the coronavirus pandemic, it was important for us to offer our member organizations a way to better understand their security performance as well as the right data to improve and remediate any risk," said Yves Schellekens, Business Group Leader Industries for Agoria. "BitSight helped us to scale up our efforts and offered a vehicle to continuously measure the effect of this engagement. We will look to enhance our collaboration with member organizations and improve security behaviors within Belgium leveraging the data delivered by BitSight."

"Protecting critical infrastructure from cyber attack is one of the most important governmental missions," said Francisco Fonseca, VP of National Cybersecurity at BitSight. "Countries trust BitSight to provide valuable, real-time security performance insights that they can’t get anywhere else and a method for sharing information that measurably reduces risk. We are honored to partner with so many countries to help them fulfill this critical mission."

For more information on BitSight’s work with national governments, please visit https://www.bitsight.com/national-cybersecurity.

About BitSight
BitSight transforms how organizations manage cyber risk. The BitSight Security Ratings Platform applies sophisticated algorithms, producing daily security ratings that range from 250 to 900, to help organizations manage their own security performance; mitigate third party risk; underwrite cyber insurance policies; conduct financial diligence; and assess aggregate risk. With over 2,100 global customers and the largest ecosystem of users and information, BitSight is the Standard in Security Ratings. For more information, please visit www.bitsight.com, read our blog or follow @BitSight on Twitter.

Related Links :

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https://www.bitsight.com

PR Newswire

244% Percent Return on Investment for Peakon Customers, Total Economic Impact Study Reveals

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Study conducted by independent consulting firm reveals how Peakon enables organizations to generate strong return on investment (ROI) through improved productivity, reduced staff turnover, and less absenteeism

COPENHAGEN, Denmark, LONDON, AUCKLAND, New Zealand, BERLIN and NEW YORK, Oct. 2, 2020 — Peakon – an employee success platform – today released a commissioned Total Economic Impact™ study, conducted by Forrester Consulting, which quantifies the benefits and returns of using Peakon. The study proved a direct correlation between employee success and business success.

A composite organization, made up of interviewed Peakon customers, enjoyed an ROI of 244 percent over three years, equating to a net present value (NPV) of $1.2million.

The study found that, by using Peakon, the composite organization financially benefited in the following ways:

  • Savings of approximately $871,000 driven by a 10% reduction in voluntary staff turnover over three years.
  • Estimated savings of $755,000 as a result of reduced employee absenteeism, with average absenteeism declining by two days after the first year with Peakon.
  • Savings of around $5,200 as HR teams save seven days annually on post-survey analysis: Peakon survey results are delivered directly to managers instead.

When interviewed for the study, one enterprise customer from the recruitment sector said: "The Peakon platform drives engagement results to managers directly through the dashboard. That really empowers them to understand how they’re leading the team, what’s working well, and what improvements they could make."

Another enterprise customer, director of people services in the non-profit industry, said: "The implementation process itself was probably one of the easiest I’ve ever been a part of… It was seamless. It was right on time as promised."

In addition to the quantifiable benefits above, the composite organization also reaped the following unquantified benefits:

  • Improved Employee Experience (EX). Peakon customers interviewed for the study repeatedly stated that their EX scores improved following the implementation. As we know from previous research, engaged employees positively impact customer experience, productivity, hiring, and overall profitability.
  • Empowered managers. The composite organization found that Peakon helps to empower managers. It makes it easier for managers to address difficult issues, implement changes, and to improve team engagement. Peakon provides suggestions for training and follow-up, in addition to the initial data and team insights.
  • Initiating organizational culture change. The study also found that, with Peakon, employees feel heard, and managers can identify and address issues quickly. This helps to facilitate a change in established attitudes and behaviors – and ultimately a culture shift.

All interviewees flagged their appreciation of Peakon’s continued platform development. Ongoing updates provide additional benefits and use cases, allow for greater flexibility, and further cost avoidance.

Commenting on the findings, Peakon CEO and co-founder Phil Chambers said: "More companies are partnering with Peakon as they begin to understand the direct and inextricable correlation between strong employee engagement and better business outcomes.

"As this study shows, Peakon customers enjoy benefits that extend far beyond improved employee engagement scores. This includes reduced staff turnover and absenteeism, better customer experience and productivity, and healthier profits as a result."

Chambers adds: "We’ve long since understood the business benefits of making your people the top priority. We believe that this study by Forrester Consulting just proves it further by quantifying the impact Peakon can have on businesses worldwide."

Download THE TOTAL ECONOMIC IMPACT™ OF PEAKON here.

Forrester developed the Total Economic Impact™ of Peakon, commissioned by Peakon, through four enterprise customer interviews at organizations using Peakon to obtain data with respect to costs, benefits, and risks, and subsequent financial analysis. Forrester conducted customer interviews across recruiting, defense, non-profit and media industries.

Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists vendors in communicating the value proposition of their products and services to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders.

About Peakon

Peakon is an employee success platform that converts feedback into insights. It makes the employee conversation quantifiable and actionable to increase employee engagement – not simply measure it. Peakon’s core belief is that work should work for people, and with the largest standardised data set of employee feedback in the world, Peakon provides customised benchmarks and personalised insights to support our mission of helping every employee drive the change they want to see. To date, Peakon has helped organisations like Capgemini, Verizon, Pret, Trustpilot, and easyJet make fundamental changes in how they operate to improve employee experience, driving greater business results.

press@peakon.com

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PR Newswire

Drone Industry Powers on in a Post-COVID-19 World to be Worth US$92 billion by 2030

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Looking past COVID-19, new regulatory changes and the slow rollout of remote ID and 5G will enable an enormous upscaling of drone operations

LONDON, Oct. 2, 2020 — The small Unmanned Aerial System (sUAS) market continues to develop at an impressive pace and is unmarred by the challenges of COVID-19. Global tech market advisory firm, ABI Research, predicts strong growth of the industry worth US$92 billion by 2030. While the pandemic has dented consumer shipments and hindered commercial rollout, this has been mitigated by increased use of drones for public service responses and surveillance by both local and national police forces. Looking forward, new regulatory changes and the slow rollout of remote ID and 5G will enable an enormous upscaling of drone operations, from single remotely operated aircraft to semi-autonomous fleets that will be able to operate beyond visual line of sight courtesy of impending unmanned traffic management (UTM) infrastructure. This will provide the base from which companies like Amazon can launch drone delivery services.

"We have gone through various phases of the drone industry, from its genesis in the military, to the proliferation of consumer drones. Since Chinese developer DJI monopolized that space, the attention has shifted to commercial applications," explains Rian Whitton, Senior Robotics Analyst at ABI Research. "While some of the initial hype has subsided, providers and end users are refocusing on developing the necessary supporting infrastructure and services to make drone technology viable at scale."

Overall, the drone market is set to be worth US$92 billion by 2030, with a CAGR rate of 25% over the US$9.5 billion in annual revenue for 2020. Of this revenue, 70% is in the commercial sector (US$63 billion). The largest number of drone registrations are currently in the United States, where the Federal Aviation Authority (FAA) tracks 1.7 million consumer drone pilots and 400,000 commercial operators. China is catching up with 400,000 registered drones, while the European Union (EU) has over 1 million registrants. Among the biggest markets are security and industrial inspection, with growing opportunities in delivery, agriculture, and emergency services.

With their involvement in the public response to the pandemic, drone companies highlighted their value. Now, the story of the next decade will be the development of key technologies like edge computing, cloud services and 5G connectivity enabling mass deployments, in tandem with regulatory harmonization. "While cloud services will help enable the collection and orchestration of massive amounts of data, 5G will significantly reduce latency for mission-critical drone operations. The advancement of edge computing and processing hardware will also be important, as drones can be untethered from remote operation and become truly autonomous," Whitton concludes.

These findings are from ABI Research’s Small Unmanned Aerial Systems: Annual Update application analysis report. This report is part of the company’s Industrial, Commercial and Collaborative Robotics research service, which includes research, data, and analyst insights. Based on extensive primary interviews, Application Analysis reports present in-depth analysis on key market trends and factors for a specific application, which could focus on an individual market or geography.

About ABI Research
ABI Research provides strategic guidance to visionaries, delivering actionable intelligence on the transformative technologies that are dramatically reshaping industries, economies, and workforces across the world. ABI Research’s global team of analysts publish groundbreaking studies often years ahead of other technology advisory firms, empowering our clients to stay ahead of their markets and their competitors. 

ABI Research提供开创性的研究和战略指导，帮助客户了解日新月异的技术。 自1990年以来，我们已与全球数百个领先的技术品牌，尖端公司，具有远见的政府机构以及创新的贸易团体建立了合作关系。 我们帮助客户创造真实的业务成果。 

For more information about ABI Research’s services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific or visit www.abiresearch.com.

Contact Info:                                                               

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Deborah Petrara 
Tel: +1.516.624.2558 
pr@abiresearch.com

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PR Newswire

Subaru Selects Veoneer to Manufacture New Generation Eyesight

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STOCKHOLM, Oct. 2, 2020 — The automotive technology company Veoneer, Inc. (NYSE: VNE and SSE: VNE SDB), has partnered with Subaru to introduce the new generation EyeSight on the all-new Subaru Levorg.  Veoneer will begin producing systems for the Japan market starting later this year.     

Veoneer was selected by Subaru due to its experience in stereo vision systems and opto-mechanical design capabilities. This business is included in Veoneer’s previously announced backlog.  The new generation EyeSight hardware is a variant of Veoneer’s 4th generation stereo vision system, re-engineered to meet Subaru’s original specification. 

Subaru first introduced EyeSight in the U.S. in 2012, which has become a leading system in the automotive industry. The new generation EyeSight has two cameras mounted on a wide-baseline design allowing for better detection of pedestrians and vehicles in intersections and on curved roadways.   The system doubles the field-of-view and substantially increases the resolution over previous generations.  The system also has enhanced optical robustness and mechanical rigidity which improves detection performance while retaining a compact design package.  Integrated in the system package is a Xilinx Zynq XA processor hosting algorithms developed by Subaru.  

 "We are proud to have partnered with Subaru on the next generation EyeSight system for the all-new Levorg," says Jan Carlson, Veoneer Chairman, President and CEO. "Veoneer is leading the industry in stereo vision systems and is honored to custom design a version that is at the heart of Subaru’s ADAS solutions."

For more information please contact:

Thomas Jönsson
EVP Communications & IR
tel +46 (0)8 527 762 27

Ray Pekar
VP Investor Relations
tel +1 (248) 794-4537

Veoneer, Inc. is a worldwide leader in automotive technology. Our purpose is to create trust in mobility. We design, manufacture and sell state-of-the-art software, hardware and systems for occupant protection, advanced driving assistance systems, and collaborative and automated driving to OEMs globally. Headquartered in Stockholm, Sweden, Veoneer has 7,100 employees in 13 countries. In 2019, sales amounted to $1.9 billion. The Company is building on a heritage of close to 70 years of automotive safety development. In 2018, Veoneer became an independent, publicly traded company listed on the New York Stock Exchange (NYSE: VNE) and on the Nasdaq Stockholm (SSE: VNE SDB).

Safe Harbor Statement: This release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that Veoneer, Inc. or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations, various assumptions and/or data available from third parties. Our expectations and assumptions are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including general economic conditions and fluctuations in the global automotive market. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events, except as required by law.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/veoneer/r/subaru-selects-veoneer-to-manufacture-new-generation-eyesight,c3208391

 

PR Newswire

AutoStore sues Ocado for infringing technology patents central to the Ocado Smart Platform

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– Ocado Smart Platform’s automated storage and retrieval system unlawfully infringes AutoStore’s patented technology

– Ocado has signed agreements with retailers such as Kroger, Marks & Spencer and Morrisons for systems that infringe AutoStore’s intellectual property

– Complaints filed in both United States (US International Trade Commission; US District Court for the Eastern District of Virginia) and United Kingdom (High Court of England and Wales)

– AutoStore seeks orders barring Ocado and its partners from manufacturing and selling infringing products and importing them into the United States, as well as financial damages

NEDRE VATS, Norway, Oct. 2, 2020 — AutoStore, the pioneer and global leader in automated storage and retrieval systems (AS/RS), today filed patent infringement lawsuits in the United States and the United Kingdom against the UK FTSE 100-listed online grocery retailer and technology company, Ocado Group Plc.

The Black Line(TM): One of AutoStore’s Automated Storage & Retrieval Systems
The Black Line(TM): One of AutoStore’s Automated Storage & Retrieval Systems

AutoStore is seeking court orders barring Ocado and its partner, Tharsus Group (of Blyth, UK), from manufacturing, importing, using and selling technology that infringes AutoStore’s patents, as well as monetary damages. Ocado has signed agreements with retailers such as Kroger (US), Marks & Spencer (UK), and Morrisons (UK) that rely on the continued infringement of AutoStore’s intellectual property.

AutoStore has filed complaints in the following tribunals:

  • The US International Trade Commission, seeking an exclusion order preventing the importation of Ocado’s infringing products into the United States;
  • The US District Court for the Eastern District of Virginia, seeking an injunction against, among other things, the manufacture, sale, and use of Ocado’s infringing products, as well as monetary damages for Ocado’s past and ongoing infringement of AutoStore’s intellectual property; and
  • The High Court of England and Wales, seeking, among other remedies, an injunction barring the manufacture, sale, and use of Ocado’s infringing products in the United Kingdom, as well as monetary damages.

The complaint filed with the US International Trade Commission also names Printed Motor Works (of Hampshire, UK), an Ocado supplier, as a respondent.

"Since 1996, AutoStore has developed and pioneered technology that has revolutionized retail storage and order fulfillment, and is driving the growth of online retail," said Karl Johan Lier, CEO and President of AutoStore. "Our ownership of the technology at the heart of Ocado’s warehousing system is clear. We will not tolerate Ocado’s continued infringement of our intellectual property rights in its effort to boost its growth and attempt to transform itself into a global technology company." 

AutoStore’s innovative automated storage and retrieval systems provide unprecedented configurability and flexibility to warehouse owners and operators. In the AutoStore system, storage bins are stacked vertically in a grid and stored in a cubic structure, with the bins retrieved by robots that travel on the top of the structure. AutoStore currently supports more than 500 installations and 18,000 robots across 30 countries, serving markets from grocery and healthcare to aviation for customers including ASDA (UK), Best Buy (USA), and Lufthansa (Germany).  Ocado too is an AutoStore customer, having first purchased AutoStore technology in 2012.

Ocado’s infringement of AutoStore’s AS/RS intellectual property – including the storage system and robots – is the foundation on which the "Ocado Smart Platform" (OSP) was built and on which Ocado’s business today is based. 

Ocado infringes the AutoStore patented technology, deploying it in Customer Fulfillment Centers ("CFCs") for its own online grocery business and for its customers, such as Morrisons in the UK. Ocado also entered into a partnership with Kroger (US) in 2018 to establish up to 20 CFC sites in the US based on AutoStore’s patented technology.

Ocado’s OSP infringes several AutoStore patents, including those relating to the fundamental central cavity design of the AS/RS robots; the arrangement of the lifting mechanism that enables those robots to lift and place bins in their cavities; and the robots’ in-wheel motors. A court in Norway has already found that AutoStore is entitled to ownership of its patents covering the robots’ central cavity technology, yet Ocado has continued to pursue lucrative partnerships by selling that technology – as well as other AutoStore-owned technology – as its own.

About AutoStore
Founded in 1996 as Jakob Hatteland Logistics AS, AutoStore is a robotics technology company that invented and continues to pioneer Cube Storage Automation, the densest storage technology. Its focus is to combine software and hardware with human capabilities to further develop the future of efficient warehouses. With more than 500 installations in 30 countries, the company is represented in a variety of industries. Sales, designs, and installations are carried out by a network of qualified integrators who are its partners. Its headquarters are in Nedre Vats, Norway, and it has offices, warehouses and / or manufacturing sites in the USA, UK, Poland, Germany, France, Korea and Japan.

Enquiries 
Brunswick Group

US – Matt Levine – +1-212-333-3810 or mlevine@brunswickgroup.com
UK & Europe – Tim Danaher – +44-20-7404-5959 or tdanaher@brunswickgroup.com
All other markets: autostore@brunswickgroup.com

The Black Line(TM): One of AutoStore’s Automated Storage & Retrieval Systems
The Black Line(TM): One of AutoStore’s Automated Storage & Retrieval Systems

 

Ocado Automated Storage & Retrieval System
Ocado Automated Storage & Retrieval System

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PR Newswire

Giift launches “GiiftPay”

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A Mobile Payment Loyalty App for SMEs and Consumers

SINGAPORE, Oct. 2, 2020 — Today, Giift, the Loyalty Marketplace specializing in the exchange of loyalty currencies (points, miles, gift cards, rewards) announced that it has launched GiiftPay, a Coalition Reward Program for SMEs and consumers.

 

 

A turnkey solution, GiiftPay enables merchants to enroll to the Giift Coalition Program, deploy it instantly through their payment gateway, and issue coalition points to consumers when they pay. GiiftPay also empowers merchants to create and push digital offers to millions of consumers driven by the Coalition Program and boost their business.

GiiftPay is a state-of-the-art solution aligns perfectly the interests of:

  • Small merchants, willing to be part of a large reward program, and to acquire additional customers from the program network;
  • Payment processors, gateways or e-wallets, ready to provide added value services to their merchants, in addition to their standard transactional solutions;
  • Consumers, eager to earn coalition points that they can redeem anywhere.

"GiiftPay offers a unique value proposition for payment gateways, mobile payment technologies, small merchants and consumers at the same time. With GiiftPay, we address a massive market made of thousands of payment processors and e-wallets, millions of SMEs and billions of dollars of daily transactions. Our objective is to deploy GiiftPay within such ecosystem," adds Pascal Xatart, Co-Founder & Director, Giift.

About Giift.com: Giift innovative end to end loyalty technology turns rewards programs into fungible currencies. Giift operates in more than 50 countries, with offices in New York, London, Singapore, Wuhan, Nairobi, Dubai, Jakarta, Mumbai, Colombo, Doha, and Dhaka. Giift business model is transaction based.

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For more information about this story, contact:
pascal.xatart@giift.com
www.giift.com

 

 

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PR Newswire

Nintex Announces Agreement to Acquire K2 Software, Inc.

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MELBOURNE, Oct. 2, 2020 — Nintex, the global standard for process management and automation, today announced a definitive agreement to acquire K2 Software Inc., an innovative provider of digital process automation (DPA) software solutions.

K2 is Nintex’s third acquisition since Thoma Bravo became the company’s majority investor in early 2018. Upon closing this transaction, Nintex will serve more than 10,000 customers including approximately 50 per cent of the Fortune 500 and will generate over $200 million in annual recurring revenue, making Nintex one of the largest independent software vendors for process automation.

"We are excited to be bringing together leading innovators in the digital process automation software market," said Nintex CEO Eric Johnson. "Upon closing, Nintex and K2 customers and partners will benefit from an even broader range of process management and automation solutions. The combination of our respective development teams will further accelerate our pace of innovation in this growing market."

Organisations in every region of the world are saving costs and improving operations by using Nintex’s easy-to-use, powerful process platform to visually map and manage business processes with Nintex Promapp® and to accelerate digital transformation with mobile apps, digital forms, workflows, robotic process automation (RPA), document automation and eSignatures.

K2 Software, Inc. helps enterprises digitally transform faster by simplifying the creation of modern process applications and automated workflows with robust developer tools. Over 1.5 million users in more than 84 countries, including 30 per cent of Fortune 100 companies, have leveraged K2 software solutions to take control of their business processes, increase visibility and improve operational efficiency.

"We are looking forward to delivering even greater value to our K2 customers by joining forces with Nintex," said K2 CEO and President Evan Ellis. "Combining Nintex’s solution portfolio with K2’s complementary technologies will further enhance what commercial enterprises and government agencies can achieve through the power of digital process automation."

Industry comments on the automation market

"With Nintex’s latest acquisition announcement, the company will further enhance its position as a leading digital business platform and its role as a leader in workflow and content automation and digital transaction management," said Aragon CEO and Lead Analyst Jim Lundy. "Nintex is demonstrating that it is built to last and one to watch in the world of process and automation."

"Enterprises are re-thinking their automation strategy and adding more business process assets to their portfolio," said IDC Program VP, Integration and Process Automation, Maureen Fleming. "Our forecast for intelligent process automation will reach $30.5 billion by 2024, and we expect to see newer and simpler types of modelling, workflow and case management cloud software factor more heavily into the portfolio mix."

"Automation remains at the heart of many current digital transformation initiatives," said Senior Research Analyst at 451 Research, part of S&P Global Market Intelligence, Carl Lehmann. "But to industry-leading organisations, automation is more than just a means to reduce redundant and error-prone manual activities or do things faster by streamlining and reducing cycle times. Industry leaders are investing in automation initiatives that bring to bear new resources that can predict change, risk and opportunity, and/or respond to it rapidly. They seek to empower the workforce with newfound intelligence and deliver new forms of value recognised by customers as superior to rivals. When this occurs, digital transformation creates new competitive advantage."

The transaction is subject to the completion of regulatory review and other closing conditions.  Nintex and K2 are working together to close the transaction in the coming weeks.

Deal terms will not be disclosed. 

Media Contact
Kristin Treat
kristin.treat@nintex.com 
cell: (215) 317-9091 

About Nintex
Nintex is the global standard for process management and automation. Today more than 8,000 public and private sector clients across 90 countries turn to the Nintex Platform to accelerate progress on their digital transformation journeys by quickly and easily managing, automating and optimising business processes. Learn more by visiting www.nintex.com and experience how Nintex and its global partner network are shaping the future of Intelligent Process Automation (IPA).

Product or service names mentioned herein may be the trademarks of their respective owners.

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PR Newswire

Future FinTech Appointed Weicheng Pan as Chief Strategy Officer

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BEIJING, Oct. 1, 2020 — Future FinTech Group Inc. (NASDAQ: FTFT) (hereinafter referred to as "Future Fintech", "FTFT" or "Company" ) a leading blockchain e-commerce company and a service provider for financial technology, today announced it has appointed Mr. Weicheng Pan as Chief Strategy Officer of the Company. Mr. Pan will be responsible for the Company’s strategic planning, international M&A, investment and financing activities, and will support the management team to promote the Company’s global development strategy.

Mr. Weicheng Pan is an angel fund investor in China and a trainer for Chinese enterprises. Since November 2019, Mr. Pan has served as dean of Guangdong Jewish Mindset Business School and president of Malaysia Chengji Business School. From January 2016 to October 2019, Mr. Pan served as chairman of Chengji Group, a company incorporated in China.

Mr. Pan has conducted over 100 lectures in Malaysia and Singapore with over 10,000 students attendance with the "Jewish business thinking" as its main lecturing topic. In September 2019, Mr. Pan was awarded the Asia-Pacific Education Lifetime Achievement Prize. From April 2014 to December 2015, Mr. Pan served as an investment banking adviser of Huatai Securities and he assisted several Chinese companies listed on the ChiNext and NEEQ in China. Currently Mr. Pan serves as an independent director of the Board of TD Holdings, Inc. (NASDAQ: GLG)

In July 1999, Mr. Pan graduated from Wuhan University of Science and Technology with a Bachelor degree in Business Administration.

"Mr. Pan is a leader with innovative ideas and forward thinking. He has more than 20 years of experience in corporate strategic planning, M&A, financing and investment strategies, and has extensive expertise in negotiating and executing complex transactions. "Future FinTech CEO, Mr. Shanchun Huang, said, " Mr. Pan will greatly enhance the strength of FTFT management team and guide FTFT to a new growth stage. He has the business acumen to evaluate investment opportunities and has many successful M&A experience. We are very happy to have Mr. Pan as our chief strategy officer and join the Company’s management team which will benefit the Company and its shareholders."

Mr. Weicheng Pan said: "I am very happy to join a dynamic team such as FTFT. I am believe that with my years of experience and channels in global business, I could help the Company making the right decisions and providing new solutions to assist FTFT’s business transformation into challenger banking and online payment fields. I look forward to working with the FTFT team to implement our growth strategy in these new fields."

About Future FinTech Group Inc.

Future FinTech Group Inc. ("Future FinTech", "FTFT" or the "Company") is a leading blockchain e-commerce company and a service provider for financial technology incorporated in Florida. The Company’s operations include a blockchain-based online shopping mall platform, Chain Cloud Mall ("CCM"), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain based application projects. The Company is also engaged in the development of blockchain based e-Commerce technology as well as financial technology. For more information, please visit http://www.ftftex.com/.

Safe Harbor Statement

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.

All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2019 and our other reports and filings with SEC. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.