Yearly Archives: 2022

PR Newswire

project44 Receives $420 Million Investment led by Thoma Bravo, TPG and Goldman Sachs Valuing Business at $2.2 Billion Pre-Money

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– With $100+ million in ARR, 1,000+ team members, 1,000+ customers, 1+ billion packages tracked annually and the top performer in analyst reports, project44 leads the supply chain visibility market

CHICAGO, Jan. 12, 2022 — project44, the leading supply chain visibility platform, announced today that it received an investment totaling $420 million. A syndicate led by Thoma Bravo, TPG and Goldman Sachs Asset Management ("Goldman Sachs") with participation from Emergence Capital, Insight Partners, Chicago Ventures, Generation Investment Management, Sapphire and Sozo Ventures acquired equity interests resulting in a pre-money valuation of $2.2 billion, and Sixth Street committed to make available additional funding, in support of the company’s strategic acquisition program and product development activities. When combined with its $202 million equity raise in May of 2021, project44 has set a funding record for Logistics Tech enterprise SaaS companies. These investments position project44 to accelerate its mission to help leading brands optimize the movement of products across supply chains, delivering better resiliency, sustainability and value for their customers.

project44 Receives $420 Million Investment led by Thoma Bravo, TPG and Goldman Sachs Valuing Business at $2.2 Billion Pre-Money
project44 Receives $420 Million Investment led by Thoma Bravo, TPG and Goldman Sachs Valuing Business at $2.2 Billion Pre-Money

"Today, project44 is helping companies solve supply chain challenges ranging from inflationary pressure and lockdowns to unpredictable weather and bottlenecks at ports. Our growth over the past year speaks to these macroeconomic tailwinds and the competitive edge we can provide to our customers," said Jett McCandless, Founder & CEO of project44. "With ongoing support from our investors, we can offer even more value to our customers and solidify our position as the global network that powers the future of the supply chain."

in Supply Chain Visibility

Throughout 2021, project44 cemented its position as the company in supply chain visibility with global port-to-door coverage across all modes of transportation. The company now generates more than $100 million in annual recurring revenue (ARR), the largest generation 2 logistics tech in the world.

The most influential analysts within the logistics industry also rank project44 ahead of its competitors. Placing first in FreightTech 25, Gartner Voice of the Customer and G2 have all awarded project44 their highest honors. In addition, Chicago Inno named project44 among the best 100 places to work in the city.

"Supply chain visibility has become increasingly important as shortages, delays and bottlenecks ramp up.  project44’s potential to solve even the most complex of these issues is unparalleled," said Robert (Tre) Sayle, Partner at Thoma Bravo. "By continuously evolving to meet customer needs, project44 has developed a revolutionary platform that adds significant value to the entire global supply chain."

"project44 has been scaling at an impressive pace, executing decisively on its vision of a global end-to-end supply chain visibility platform. Supply chain visibility has become a critical technology to solving large-scale problems in the world today, and project44 has emerged as the global market leader," said Malte Janzarik, Partner at TPG based in Europe. "The breadth of data project44 offers and ease of access for shippers, logistics providers and carriers are unmatched. We believe that project44’s next-gen platform and highly valuable network will continue to drive tremendous growth."

TPG is investing in project44 out of TPG Tech Adjacencies (TTAD), an investment vehicle focused on flexible capital solutions for the technology industry.

Meeting a Critical Need for Global Businesses

As the supply chain connective tissue, project44 offers the largest carrier network of any supply chain visibility provider with more than 142,732 multimodal carrier integrations and 2.7 million trucks.  Shippers and logistics providers depend on project44 to help them navigate today’s increasingly complex supply chains, improving their sustainability, building transportation resiliency and meeting the evolving demands of their customers.  project44 supports more than 1,000 organizations across industries including leading brands such as Amazon, Baker Hughes, Coop, CNHI, Danone, Dollar General, FedEx, General Mills, Goodyear, Kuehne & Nagel, Lenovo, McKesson, Mondelez, Nestle, The Home Depot and Unilever.

Record-Shattering Growth

project44’s momentum speaks to its differentiation and immense lead in the supply chain visibility space. Following an exceptional Q3 2021, project44 has landed $12.7 million of newly booked annual recurring revenue (ARR) in Q4. The company has closed 117 logos over that timeframe, contributing to YoY bookings increase of 170% and YoY logo growth of 216%. 

In addition to new business wins, net retention for 2021 is at 133%, while annualized gross retention was 96%. project44’s ARR has reached over $100 million with a subscription gross margin of 70%, which is up 3% year-over-year. To build on this success, project44 will be nearly doubling its investment in product and engineering in 2022 to deliver improved real-time visibility across more modes of transportation in more regions.

Expanding International Team

project44 continues to expand its international footprint, offering supply chain visibility in 166 countries. More than 1,000 team members work with project44 at its 17 global offices. Over the coming year the company plans to hire hundreds of new talented team members in China, Europe, Latin America, North America, and Japan.

project44 also hired its first director of diversity, equity, inclusion & culture executive, Ivana Savic-Grubisich. The company is committed to hiring team members who reflect the rich diversity of the communities in which it operates.

Executive Hires

In 2021, project44 added five new executives to the team to manage its growing footprint. Charlie Ungashick joined as Chief Marketing Officer in February and Diane Gordon joined as SVP, Global Customer Success in March. In November, Elliot Rodgers joined as Chief People Officer, Jennifer Coyne was appointed General Counsel and Andy Grygiel returned as Chief Brand Officer. These experienced executives bring unique insight to accelerate project44’s growth.

Massive Gains Through M&A 

Throughout 2021, project44 increased its value to shippers and logistics providers through acquisitions of leading companies in the market offering complementary solutions. The September acquisition of Convey has enabled project44 to extend real-time visibility and exception management to last-mile, including parcel, courier, white-glove doorstep delivery, and visibility into item returns.  Ocean Insights, acquired in March, brought much-demanded visibility into cargo at sea. ClearMetal, acquired in May, established project44 as the leader in artificial intelligence and machine learning with automation that reduces costs throughout the supply chain.

What Our Customers Say

"project44 has enabled us to meet our commitment to customers in a year of unpredictability," said Pat Kenefick, Vice President, Global Distribution and Logistics at AbbVie. "With awareness of where our goods are located, we can adapt to interruptions and make proactive decisions to ensure that our distributors are stocked with inventory. Supply chain visibility is a game changer for our ability to drive growth and enhance patient experiences in a challenging economic environment."

"HARIBO is committed to delivering our beloved products on time and at the high level of quality our brand is known for. This is a core piece of what has allowed us to become a successful business. We benefit from being a global company with a decentralized manufacturing structure. A perfectly coordinated global supply chain is essential for us and that is why we continuously invest in it. We chose to work with project44, the leader in real-time transportation visibility," said Stefan Sorce, Head of global logistics and managing director in the Haribo Logistics Company, at Haribo. "These insights will help us increase the resiliency of our supply chain and enable faster and smarter decisions that will get Haribo’s products into the hands of our customers."

"The ongoing events of the last two years have placed unprecedented strain on the supply chains of consumer products manufacturers, and this has only served to highlight the critical need to mitigate risk and increase supply chain resilience," said Alessandro Bonanno, Head of Global Logistics and Customer Service at Beiersdorf AG. "Partnering with project44 will provide Beiersdorf with improved visibility into our transportation flows and shipments, which will help us cope better with any future supply chain disruptions and fulfill consumer demand."

"Our team brought on project44 because of its global visibility into import and export arrival and departures," said Hiroshi Etani, Managing Executive Officer, at Yamato Transport Co., Ltd., Japan’s largest delivery company, "The broad network of multimodal transportation tracking brings more predictability to our business and helps us better communicate with our customers."

About project44

project44 is the world’s leading advanced visibility platform for shippers and logistics service providers as defined by number of happy customers, number of carriers, number of customers, ARR, net retention, shipments per day, growth rate and gross margin. project44 connects, automates and provides visibility into key transportation processes to accelerate insights and shorten the time it takes to turn those insights into actions. Leveraging the power of the project44 cloud-based platform, organizations increase operational efficiencies, reduce costs, improve shipping performance and deliver an exceptional experience to their customers. Connected to thousands of carriers worldwide and having comprehensive coverage for all ELD and telematics devices on the market, project44 supports all transportation modes and shipping types, including Air, Parcel, Final-Mile, Less-than-Truckload, Volume Less-than-Truckload, Groupage, Truckload, Rail, Intermodal and Ocean. In 2021, project44 was named a Leader among Real-Time Transportation Visibility Providers in Gartner’s Magic Quadrant. To learn more, visit www.project44.com.

Contact
project44@nextpr.com

 

PR Newswire

BIGO Awards Gala 2022 Set to Celebrate Exceptional Broadcasters and Give Glimpse of a Virtual Future

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SINGAPORE, Jan. 11, 2022 — BIGO Technology, one of the world’s fastest-growing technology companies will host its third annual BIGO Awards Gala to celebrate its most exceptional broadcasters from around the world. The gala is set to take place at 8:00 pm (GMT+8) on Friday – 14th January 2022 on Bigo Live’s Music Livehouse Channel (Bigo ID: music).


In the lead-up to the 2022 BIGO Awards Gala, musical icons from across the world hosted their own livestreams to support BIGO’s rising stars. French Popstar Kendji Girac and Dutch DJ Quintino hosted pre-event Gala celebrations in Europe for European users. In addition to the stellar lineup, Lebanese singer Yara wowed her audiences with an incredible performance during the MENA Gala on Jan 9. Singer-Songwriter Jessie J will also co-host an epic livestream with top U.S. Bigo Live broadcaster "Palestine" on Jan 11.

 

The theme for the 2022 edition of the BIGO Awards Gala is "Better Live, Better Future", which embodies the company’s commitment to empower millions of people to explore an infinite number of possibilities on its livestreaming platform. Every year, BIGO updates its hall-of-fame at their annual gala. They honour broadcasters who have captivated their livestreaming audience with creativity as well as those who have transformed the community by making the best use of livestreaming in the past year. 

As a leader in the industry, BIGO continuously invests in future-facing technologies such as computer vision, VR, AR and more. The event will also feature DINO – Bigo Live’s mascot – who will make a virtual appearance in 3D to host this exclusive one-night extravaganza whilst giving audiences a rare glimpse into the Metaverse.  


"We constantly improve our streaming technology to empower users and foster creative environments where individuals can fully showcase their talent, creativity and potential," said Mike Ong, Vice President of BIGO Technology. "Thanks to technological innovation, our livestreaming platform, Bigo Live, enables broadcasters to create both content-of-value and content-of-meaning for their viewers. It’s these individuals who have had a positive impact in their respective communities that we would like to celebrate."

During the Awards Gala ceremony, BIGO will honour the top broadcasters and families of 2021 by popularity both in each region and across the world. This year Aley Nguyen, BIGO ID: Aley1609 and KAKA Family from Australia, Filipino winners, Jean Drilon, BIGO ID: JD.09.2016 and BDO Family, will be awarded the "Top Regional Broadcaster" and "Top Regional Family" prizes respectively. Amy and Iwapoyo from Japan and Vanruby from Vietnam held the top spots in the 2021 ranking of Top Global Broadcasters. Furthermore, Japanese family BigWin will be honoured as the Top Global Family on Bigo Live.

Each winner will receive a trophy for his or her achievement, as well as in-app rewards. They will also be featured in prominent places all over the world – such as the coveted billboards at Times Square in New York, USA and the Burj Khalifa in Dubai, UAE. 

Approximately 100 broadcasters from diverse cultural and linguistic backgrounds will participate in the Gala through online performances that include aerial yoga, ethnic music, opera, Tron dance, k-pop dance, cosplay show, and many more. In addition, the Virtual Live 3D avatar that was recently introduced by Bigo Live will also make its stage debut performing a virtual concert with "The Toys"- a highly talented and renowned singer-songwriter from Thailand, offering the audience a fully immersive experience.  

During the highly engaging virtual ceremony, audience members that vote for their favourite broadcasters, families and Glory Region will be presented with tickets to participate in a lucky draw. Winners will have the opportunity to win an Apple iPhone 13, supersize Dino pillows and a variety of virtual gifts that are specially designed for the Gala.

To see how BIGO enliven the virtual world in its upcoming annual Gala, tune in via the Bigo Live app: https://bigo.onelink.me/1168916328/GALA2022Music.  

PR Newswire

vivo Strengthens its Global Presence with User-oriented Innovation and Strategic Partnerships Designed to Inspire Joy

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The company wraps up 2021 with six new markets in its global network and milestone achievements across product innovations and brand partnerships

SHENZHEN, China, Jan. 11, 2022 — Global smartphone maker vivo has concluded an exceptional year, redoubling its efforts to deliver exciting new products and experiences to consumers around the world. In 2021, driven by its user-centered innovation strategy, vivo successfully launched cutting-edge devices across its portfolio, notably pushing the boundaries of mobile imaging technology and product design. The company celebrated six new market entries, a significant step in growing its global presence, and remained a top-three company by market share in several key regions.

Throughout the year, vivo took center stage as the sponsor of some of the most-loved international sporting events, joining hands with global partners to foster joyous moments for its customer base across the world.

These are the key milestones that marked vivo’s journey in 2021.

Connecting with Global Consumers and Partners

vivo strengthens its global presence, celebrating six new market entries in 2021
vivo strengthens its global presence, celebrating six new market entries in 2021

In 2021, a total of six new markets joined the vivo global family, as the company officially expanded into Peru, the Czech Republic, Romania, Austria, Serbia, and Mexico. vivo has steadily expanded its global footprint to more than 60 countries and regions, successfully connecting with a wide range of customers through innovative products adapted to diverse consumer needs and budgets. 

vivo maintained its growth momentum throughout 2021, ranking fourth in the global smartphone market with an impressive 10 percent market share in the third quarter, according to Canalys, a leading global technology market analyst firm. Owing to its "More Local, More Global" strategy and tailored offerings, vivo remained a top-three smartphone brand by market share in key overseas markets, including the Philippines, Malaysia, and India.

Under vivo’s product and market localization strategy, the company has established seven production bases (including brand-authorized manufacturing centers) across China, South- and Southeast Asia, and other regions, with an annual production capacity of nearly 200 million smartphones, with product insight teams in nine major regional markets. vivo’s offline retail network has also been expanding with more than 380,000 sales and after-sales service centres globally.

vivo’s dedication to providing a premium user experience has also translated into a significant expansion of its overseas digital ecosystem, reaching over 120 million monthly Appstore activations, 10.7 billion app downloads, and over 100 million vivo browser users.

In addition, vivo has implemented a strategic development plan to manage long-term and mutually beneficial collaboration with international partners. In 2021, vivo realized its strategic partnership with German optics company ZEISS, bringing breakthrough mobile imaging technology to vivo’s flagship smartphones. The strategic collaboration between vivo and ZEISS exemplifies the value of vivo’s strong partnership growth.

Reaching New Milestones in Pushing the Boundaries of Smartphone Innovation

vivo and ZEISS have further advanced the cutting-edge of professional mobile photography throughout 2021 with a single goal in mind – to put photography capabilities, once only accessible to professional photographers, into the hands of regular smartphone users.

Through its partnership with ZEISS, vivo strengthened its efforts in redefining mobile photography by providing users with professional-grade camera technology via the X Series. The first imaging system co-engineered by vivo and ZEISS, debuted on the vivo X60 Series in early 2021. The X60 series integrated vivo’s user-oriented innovation with ZEISS’s outstanding expertise in mobile imaging to deliver on the brand promise of outstanding software and hardware capabilities.

Its successor, the X70 series, launched globally in September, featuring vivo’s V1 imaging chip, which serves to optimize processing power. The X70 series also marked the next chapter in vivo’s global imaging partnership with ZEISS, dedicated to creating the ultimate mobile photography experience. The entire vivo X70 lineup has achieved certified compliance for ZEISS’ T* Coating, which reduces stray light and ghosting effects to capture true colors in all lighting conditions, significantly enhancing low-light photography capabilities. In addition, vivo’s superb Night Mode captures detailed night scenes with a dynamic range, while its top-notch hardware, complemented by vivo’s AI algorithms and software, ensures optimal performance at night.

The launch of X70 series marks the next chapter in vivo's imaging partnership with ZEISS
The launch of X70 series marks the next chapter in vivo’s imaging partnership with ZEISS

In 2021, vivo also further raised the bar for smartphone selfie cameras with the vivo V Series. The V21 lineup set a new standard for smartphone selfie cameras with its unique Optical Image Stabilization (OIS) front camera. At the end of the year, vivo teased the launch of the V23 Series, setting new standards in combining advanced camera technology and premium design with its dual front camera and sleek color-changing design. The vivo V Series provides consumers with an ultra-thin and stylish selection of devices equipped with best-in-class tools, including 5G tech and smart home features, at a competitive price.

vivo’s independent sub-brand iQOO continued to expand its global user segments with a new performance flagship. The iQOO 7 series infused cutting-edge hardware with astounding software capabilities, creating the ultimate mobile gaming and multi-media entertainment experiences. In 2021, the iQOO 7 Legend was awarded the prestigious Red Dot Product Design Award for its unique aesthetic that exudes powerful performance and speed, recognizing the company’s user-centric design philosophy.

Beyond releasing breakthrough products, vivo has contributed greatly to 5G development in overseas markets. This year vivo conducted its first 5G SA commercial network testing outside of China in partnership with AIS, a leading regional mobile communications provider. The collaboration will accelerate commercial 5G SA network deployment in Thailand and bring enhanced high-speed 5G experiences to local mobile users. vivo has been dedicated to investing in 5G connectivity to reach the stage of product realization and getting this technology into the hands of consumers. It goes without saying that 5G can facilitate limitless applications, on both industrial and consumer levels.

Celebrating Moments of Joy and Creativity

vivo's "To Beautiful Moments" campaign encourages fans to capture joy during the UEFA EURO 2020™
vivo’s "To Beautiful Moments" campaign encourages fans to capture joy during the UEFA EURO 2020™

Throughout 2021, vivo partnered with global organizations to support consumer-favorite sporting events and projects that inspired creativity and joy following a tough year.

As part of its long-term commitment to Europe, vivo joined UEFA as the first-ever presenting partner of the UEFA EURO 2020TM opening and closing ceremonies, in which vivo showcased its user-oriented innovations in front of millions of global spectators. Before the tournament, vivo debuted its "To Beautiful Moments" campaign, encouraging fans to capture their cheers and joy during the games.

The company continued to support sporting events, becoming the exclusive smartphone sponsor of FIFA Arab Cup Qatar 2021TM and connecting with football fans worldwide. The Middle East is a market of critical importance for vivo, constituting an incredible opportunity to engage with local customers in the region.

One of vivo’s highlights of this past year was the VISION+ Mobile PhotoAwards 2021, launched in partnership with National Geographic. The global smartphone photography competition received over 384,878 photo entries from over 40 countries. As a pioneer and innovator in mobile imaging, vivo aims to encourage users to embrace their creativity and accelerate the development and recognition of mobile photography. The VISION+ Mobile PhotoAwards were developed within the larger ecosystem of the VISION+ Project. This initiative fosters the joint creation of images, public education, and the exploration of aesthetics.

Speaking at the vivo 2021 Developer Conference, Senior Vice President of vivo Shi Yujian pointed out that: "2021 is the year for vivo to bring out essential changes, as we are transforming ourselves from a creator of quality products to a creator of revolutionary products underpinned by technological advancement and our design philosophy." Based on the understanding and insight of users and society, vivo will continue to devote itself to technological innovation, creating great products driven by design, while pushing the boundaries of mobile imaging. vivo will continue to grow alongside its consumers, designing technologically advanced and creatively superior products that satisfy the needs of its diverse user base.

About vivo

vivo is a technology company that creates great products based on a design-driven value, with smart devices and intelligent services as its core. The company aims to build a bridge between humans and the digital world. Through unique creativity, vivo provides users with an increasingly convenient mobile and digital life. Following the company’s core values, which include Benfen*, design-driven and user orientation, vivo has implemented a sustainable development strategy, with the vision of becoming a healthier, longer-lasting world-class corporation.

While recruiting and developing the best local talents, vivo is supported by a network of 10 R&D centers in Shenzhen, Dongguan, Nanjing, Beijing, Hangzhou, Shanghai, Xi’an, Taipei, Tokyo and San Diego, focusing on the development of state-of-the-art consumer technologies, including 5G, artificial intelligence, industrial design, photography and other up-and-coming technologies. vivo has also set-up five production hubs (including brand authorized manufacturing center), across China, South- and Southeast Asia, with an annual production capacity of nearly 200 million smartphones. As of now, vivo has branched out its sales network across more than 50 countries and regions, and is loved by more than 400 million users worldwide.

*"Benfen" is a term describing the attitude on doing the right things and doing things right – which is the ideal description of vivo’s mission to build technology for good.

Please stay informed of vivo’s news at https://www.vivo.com/en/about-vivo/news

PR Newswire

Greater China to Dominate the Asia-Pacific Enterprise Video Conferencing Market by 2027, Finds Frost & Sullivan

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The surge in demand in Greater China during the COVID-19 lockdowns helped offset a decline and boost the overall revenues

SAN ANTONIO, Jan. 10, 2022 — The COVID-19 crisis has changed the organizational perspective about remote work and learning and the critical role video conferencing plays in enabling remote collaboration. Though the COVID-19 pandemic continues to hamper economic activities worldwide, the overall investments across the region, especially in China, contributed to a strong performance. The global enterprise video conferencing endpoints and infrastructure market is projected to reach $1.46 billion in 2027, up from $864.4 million in 2020, at a compound annual growth rate of 7.8%.

Greater China to Dominate the Asia-Pacific Enterprise Video Conferencing Market by 2027, Finds Frost & Sullivan
Greater China to Dominate the Asia-Pacific Enterprise Video Conferencing Market by 2027, Finds Frost & Sullivan

For further information on this Asia-Pacific Video Conferencing Endpoints and Infrastructure Market Analysis, Forecast to 2027, please visit: https://frost.ly/6vy

"While the economic contractions led to delays in project rollouts and restricted the growth in most markets, the surge in demand in Greater China during the COVID-19 lockdowns partially offset the decline and helped boost Asia-Pacific’s overall revenue growth," noted Youngso Lee, Senior Research Analyst, ICT at Frost & Sullivan. "Due to the strict virus containment measures and significant government support in the form of fiscal policies and financial aid, many large enterprises in China adopted video conferencing."

Lee added, "In addition to China, the addressable market in Asia-Pacific is expanding with the availability of superior broadband infrastructure extending high-quality network coverage to rural areas. Overall, the use of video conferencing to redefine business models in education, healthcare, and government is becoming a best practice for late adopters in emerging and developing countries in Asia-Pacific."

To tap into the opportunities presented in the market, participants should consider:

  • Enabling a seamless meeting experience for users across a variety of work environments as remote work and virtual meetings become more common.
  • Delivering an integrated platform to reduce complexity and alleviate certain solution management challenges, enabling greater adoption across more businesses and more users within enterprises with existing deployments.
  • Exploring new use cases in education and healthcare, such as virtual classes and using A/V for digital healthcare through vertical-centric channel partners.
  • Highlighting the benefits of using advanced planning and management software to emphasize customized deployment as opposed to a one-size-fits-all approach.
  • Capitalizing on Device-as-a-Service and allowing the IT team to concentrate on other strategic digital transformation projects in their organizations.

Asia-Pacific Video Conferencing Endpoints and Infrastructure Market Analysis, Forecast to 2027 is the latest addition to Frost & Sullivan’s Information & Communications Technologies 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 six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion.

Asia-Pacific Video Conferencing Endpoints and Infrastructure Market Analysis, Forecast to 2027

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Contact:

Melissa Tan
Corporate Communications
T: +65 6890 0926
E: melissa.tan@frost.com
http://www.frost.com

PR Newswire

Foodics Acquires POSRocket And Becomes The Dominant Restaurant-Tech Provider In MENA

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  • Strategic Landmark first acquisition for Foodics to consolidate the market
  • Deal positions Foodics as the dominant Restaurant-tech provider in MENA
  • POSRocket is the second largest restaurant Cloud technology player in the region
  • First acquisition also opens the door to further upcoming M&A activities

RIYADH, Saudi Arabia, Jan. 10, 2022 — FOODICS, the leading GCC Restaurant-Tech company based in Saudi Arabia, has announced today its first acquisition, with the full ownership of POSRocket, the second largest restaurant Cloud technology provider in MENA. 

Photo of Foodics CEO - Ahmad Al Zaini and Chief Executive Astronaut POSRocket - Zeid Husban (left to right)
Photo of Foodics CEO – Ahmad Al Zaini and Chief Executive Astronaut POSRocket – Zeid Husban (left to right)

This landmark acquisition is a strategic move by both companies and one that enables Foodics to consolidate the market, as well as take market leadership position in Egypt, Kuwait, Oman and Jordan on top of the dominant position it already had in the rest of GCC. This first acquisition also opens the door to further upcoming M&A activities and international expansion from Foodics.

Founded in 2016 in Jordan, POSRocket offers cloud-based POS software for restaurants and retailers, allowing owners to remotely manage operations in real-time. The acquisition will allow POSRocket merchants to benefit from Foodics’ ecosystem in managing payments, supplies and capital lending infrastructure.

Ahmad Al-Zaini, Foodics CEO and Co-founder commented, "We are delighted to welcome the POSRocket astronaut team, its clients and partners to the Foodics family and look forward to growing together for the benefit of the wider ecosystem. Our acquisition of the fast growing and second largest restaurant Cloud technology provider in the region is very strategic as it naturally establishes our position as the dominant player across MENA and beyond."

Zeid Husban, POSRocket Chief Executive Astronaut and Founder commented, "Foodics is a natural fit for POSRocket, as both brands are driven by helping business owners grow their operations. Bringing our talented teams together is a strategic move that yields us a unique competitive advantage. Now powered by Foodics, the POSRocket astronauts are delighted to be joining a larger team and brand, and with access to funding, we are looking forward to a bright future together."

Since its inception in 2014, Foodics has successfully already processed over US$5 billion worth of orders through its platform, and is targeting 150,000 terminals by the end of 2024.

More information about FOODICS:

https://www.foodics.com/

PR Newswire

HHI Group and ABS to collaborate on real-life trials of autonomous ship technologies

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LAS VEGAS, Jan. 9, 2022 — Avikus, Hyundai Heavy Industries (HHI) Group’s subsidiary specializing in autonomous navigation technologies for ships, partners with the American Bureau of Shipping (ABS) to collaborate on real-life trials of autonomous ship technologies.

Avikus, HHI Group’s subsidiary specializing in autonomous navigation technologies for ships, signed an MOU with ABS in Las Vegas to obtain the Approval in Principle (AIP) for the implementation of autonomous ship technologies and collaborate on real-life trials of autonomous ship technologies. (From left: WonHo Joo, CTO of HHI; Kisun Chung, CEO of HHI Holdings; Sungjoon Kim, Head of KSOE's Advanced Research Center; Patrick Ryan, CTO of ABS; John McDonald, Executive Vice President of ABS; and Do-hyeong Lim, CEO of Avikus)
Avikus, HHI Group’s subsidiary specializing in autonomous navigation technologies for ships, signed an MOU with ABS in Las Vegas to obtain the Approval in Principle (AIP) for the implementation of autonomous ship technologies and collaborate on real-life trials of autonomous ship technologies. (From left: WonHo Joo, CTO of HHI; Kisun Chung, CEO of HHI Holdings; Sungjoon Kim, Head of KSOE’s Advanced Research Center; Patrick Ryan, CTO of ABS; John McDonald, Executive Vice President of ABS; and Do-hyeong Lim, CEO of Avikus)

Avikus announced on January 9, 2022, in Las Vegas, where the world’s biggest tech show CES 2022 is taking place that it signed a memorandum of understanding (MOU) with ABS to obtain the Approval in Principle (AIP) for the implementation of autonomous ship technologies.

Kisun Chung, President and CEO of Hyundai Heavy Industries Holdings and Korea Shipbuilding & Offshore Engineering (KSOE), Do-hyeong Lim, CEO of Avikus, and John McDonald is Executive Vice President and Chief Operating Officer (COO) of ABS, attended the signing ceremony.

As a member of the International Association of Classification Societies (IACS), ABS is a maritime classification society that identifies technological suitability and selects the relevant criteria for cutting-edge maritime technology and offshore structures while promoting stable maritime industry development.

With the MOU signed, Avikus starts stage-by-stage demonstration tests for its various solutions including Hyundai Intelligent Navigation Assistant System (HiNAS): Hyundai Intelligence Berthing Assistance System (HiBAS): and Hyundai Intelligent Navigation Assistant System 2.0 (HiNAS2.0), in compliance with the ABS Guide for Autonomous and Remote Control Functions published in July 2021.

Through the tests, Avikus will be capable of obtaining each certificates by stage for its autonomous vessel technologies, while ABS will review the design, regulate testing procedures and verify the implementation for each stage based on the actual operation data of Avikus. From trials of the autonomous technologies in real-life conditions, the joint efforts from the two companies will be an important step in making maritime autonomous operations a practical reality. Lessons learnt from this collaboration will also contribute to the development and improvement of standards and regulations for autonomous technology and operations.

After the successful demonstration of the full autonomous cruising as the first in Korea in June 2021, Avikus plans to jointly demonstrate the autonomous shipping technology with ABS for a transoceanic voyage of a large-scale commercial vessel which is currently under development.

According to Acute Market Reports, a global market research firm, the autonomous vessel and related material and equipment markets are expected to grow by 12.6% annually and reach USD 235.7 billion in its market size by 2028.

"The agreement with ABS holds a great significance as it promotes the technology standardization through the stage-by-stage certification of Avikus’ proprietary technologies. With these commitments, we will contribute to expanding the autonomous vessel market and proactively preoccupy the related markets," Avikus CEO Lim said.

"Autonomous vessels will have a significant role to play in the future of maritime transportation but they will need to be at least as safe as existing vessels. It will take extensive research and development activity, teamwork and sharing of expertise among the leading maritime players to get us there. That’s why this agreement is a game changer, as it unites ABS’ insight with HHI’s expertise to develop practical applications of the technology,"said John McDonald, ABS Executive Vice President and Chief Operating Officer.

Avikus introduced a leisure boat equipped with the full autonomous navigation technology at CES 2022 and presented a future vision of the maritime mobility sector centering on autonomous vessel technology through simulated navigation applying the virtual reality technology.

PR Newswire

SK Telecom, SK Square and SK hynix Launch ‘SK ICT Alliance’ for Synergies

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LAS VEGAS, Jan. 9, 2022 — At CES 2022, SK Telecom, SK Square and SK hynix announced the launch of the ‘SK ICT Alliance’ to jointly develop and invest in ICT convergence technologies, and create global market opportunities. 

Park Jung-ho, Vice Chairman and CEO of SK Square and SK hynix
Park Jung-ho, Vice Chairman and CEO of SK Square and SK hynix

The alliance comes as SK hynix celebrates the tenth year since joining the SK Group and SK Square successfully spun off from SK Telecom, marking the beginning of a new era of synergies between semiconductor, telecommunication and investment. 

Ryu young-sang, CEO of SK Telecom
Ryu young-sang, CEO of SK Telecom

With the aim to secure global competitiveness in diverse ICT areas such as semiconductors, 5G and AI, the three companies plan to carry out joint business activities in the global market by leveraging SK Square’s innovative investment, SK Telecom’s AI and 5G technologies and SK hynix’s  future semiconductor technologies.

Lee Seok-Hee, CEO of SK hynix
Lee Seok-Hee, CEO of SK hynix

From January 2022, the three companies will operate ‘Synergy Council’ chaired by Vice Chairman Park Jung-ho, and joined by Ryu Young-sang, CEO of SK Telecom, and Lee Seok-Hee, CEO of SK hynix. The Synergy Council will be the highest decision making body, where the executives discuss R&D cooperation and joint investments in semiconductor and ICT areas, and promote global market expansion. 

  • Increasing the presence of SK Telecom’s self-developed AI semiconductor SAPEON

SK Telecom, SK Square and SK hynix will first create synergies in introducing SK Telecom’s AI chip SAPEON* to the global market. The three companies will jointly invest to establish SAPEON Inc. in the U.S. and make inroads into the global AI semiconductor market. 

* SAPEON is SK Telecom’s self-developed AI chip launched in November 2020. Although it is about half the price of a Graphics Processing Unit (GPU), its deep learning computation speed is 1.5 times faster and it uses 20% less power than GPU.

SK Telecom plans to lead the development of SAPEON-related technologies by leveraging its R&D capabilities and service experience accumulated in 5G and AI. In the mid-to long-term, the company will expand its SAPEON model lineup by developing AI chips dedicated to data centers and autonomous driving. 

SK Telecom, SK Square and SK hynix Launch 'SK ICT Alliance' for Synergies
SK Telecom, SK Square and SK hynix Launch ‘SK ICT Alliance’ for Synergies

SK Telecom will also promote synergies between its AI semiconductor and SK hynix’s semiconductor memory technologies, while also attracting strategic and financial investors in cooperation with SK Square. 

SAPEON Inc. will serve as an outpost for expanding the AI semiconductor business to the global market by attracting U.S.-based big tech companies as major clients. It will also secure an edge in luring semiconductor development experts and drawing in outside investors. Moreover, as the subsidiary of SAPEON Inc., SAPEON Korea will take charge of business in Korea and the Asian region. 

Projecting that the convergence of AI and metaverse will define the future world of ICT, SK Telecom plans to innovate its three key services, T Universe, Ifland and AI Agent, in an accelerated manner. Moreover, it will also introduce new services by adding connected intelligence to future devices such as UAM aircrafts, self-driving cars and robots. 

"By proactively responding to changes taking place in the areas of AI, metaverse and 5G, we will prepare ourselves for the next decade," said Ryu Young-sang, CEO of SK Telecom.   

  • Creating an ICT investment capital of over KRW 1 trillion

SK Telecom, SK Square and SK hynix plan to establish a base to make investments overseas this year and attract investment from overseas financial investors to create and operate a total investment capital of over KRW 1 trillion. Detailed discussions on investments are already underway with prominent global investors.

With this investment capital, the three companies will actively invest in companies with innovative technologies such as AI, metaverse, block chain and semiconductors. 

Through these investment activities, they will be able to stay ahead of the convergence trend within the ICT industry and discover unicorns that can change the industrial landscape, which will lead to valuable business synergies. 

SK Telecom and SK hynix will be able to strengthen business partnerships with the companies they invested in or even secure an advantage in the acquisition of these companies in the future. SK Square expects to build a good track record as an investment company, while increasing its corporate value. 

According to market research company Mergermarket, the size of the global buyout market reached around KRW 1,400 trillion (USD 1.172 trillion) in 2021, increasing by about twofold from the previous year. Industries are being rapidly reorganized via M&As between global companies, and those that fail to keep up with this trend are left behind the competition. 

  • SK hynix to increase its global market presence through ‘Inside America’ strategy

SK hynix aims to become a top global tech company that leads the rapidly changing ICT industry.

Recently, the semiconductor market is witnessing more diversified demand from sectors like AI, autonomous driving and metaverse, and pluralization is taking place within the system architecture field like CPU, GPU and MPU. Since the existing law of competition no longer applies to this market, it is imperative for companies to develop new business models and technologies to remain competitive. 

With the acquisition of Intel’s NAND and SSD business, SK hynix is now fully set to strengthen the competitiveness of its NAND flash business. The company also aims to break away from its existing role as a semiconductor supplier and become a company that leads future technologies along with global ICT companies. 

Moreover, SK hynix will carry out its ‘Inside America’ strategy in the U.S., world’s largest ICT market and battlefield, to enhance its business competitiveness and expand into new partnerships. It will also establish a new business unit and R&D center in the U.S. Based on SK hynix’s competitiveness, the three companies expect to strengthen their collaboration with global ICT companies.

"SK hynix will take a leap to become a top-notch global tech company by offering more innovative technologies and products, and creating value for the society and humanity," said Lee Seok-Hee, CEO of SK hynix. 

Meanwhile, SK Square plans to accelerate the creation of synergies among the three companies by making innovative investments. In response to SK hynix’s moves towards global market expansion and new technology development, SK Square will make joint investments in the semiconductor ecosystem. In parallel, it will increase its investment in platforms that will drive future innovations such as metaverse and blockchain.

SK Square will also enter the new global block chain market by leveraging Korbit, a virtual asset exchange it recently invested in, and build a blockchain-based economic system in collaboration with SK Telecom’s metaverse platform Ifland.

"This year, the SK ICT Alliance will join forces to achieve new innovations and make a big leap forward in the global market," said Park Jung-ho, Vice Chairman and CEO of SK Square and SK hynix. "As leading players in the global semiconductor and ICT industries, we will also make best efforts to contribute to the Korean economy."  

About SK Telecom

SK Telecom (NYSE:SKM) is Korea’s leading ICT company, driving innovations in fixed & wireless telecommunications, AI service, and digital infrastructure service. Armed with cutting-edge ICT including AI and 5G, the company is ushering in a new level of convergence to deliver unprecedented value to customers. As the global 5G pioneer, SKT is committed to realizing the full potential of 5G through ground-breaking services that can improve people’s lives, transform businesses, and lead to a better society.

SKT boasts unrivaled leadership in the Korean mobile market with over 30 million subscribers, which account for nearly 50 percent of the market. 

For more information, please contact skt_press@sk.com or visit our LinkedIn page www.linkedin.com/company/sk-telecom.

About SK hynix Inc.

SK hynix Inc., headquartered in Korea, is the world’s top tier semiconductor supplier offering Dynamic Random Access Memory chips ("DRAM"), Flash memory chips ("NAND Flash") and CMOS Image Sensors ("CIS") for a wide range of distinguished customers globally. The Company’s shares are traded on the Korea Exchange, and the Global Depository shares are listed on the Luxemburg Stock Exchange. Further information about SK hynix is available at www.skhynix.com, news.skhynix.com.

Computers, Gaming, News

MSI Unleashes A New Stable of Laptops Powered by Intel’s 12th Generation Processors

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Intel only recently announced their latest 12th Generation processors. These processors bring improved performance and better battery life. MSI is banking on the “Metaverse” as it moves forward with a new redesigned logo, slimmer, more powerful laptops and feature-packed offerings. The new lineup takes advantage of the latest and greatest from Intel and also NVIDIA.

In addition to bringing the latest from Intel and NVIDIA, MSI is also bringing a few new upgrades of its own. The company is introducing a new cooling technology they call “Phase Change Liquid Metal Pad” which has better thermal conductivity thanks to its change in state. According to MSI, as temperatures hit 58°C (136° F), the Liquid Metal Pad liquefies which allows it to fill the gaps between the CPU and thermal block providing better cooling. In fact, MSI is attributing a 10% increase in overall performance to its new cooling technology. This feature is making its way to most, if not all of MSI’s “Meta Ready” Laptops.

A Gamer in Plain Sight: MSI Stealth GS77/66

It seems that more and more people are looking for a laptop that can seamlessly blend into their work and play. The MSI Stealth GS series is built to do just that. MSI has bolstered the durability of the Stealth with better more robust materials. They’ve also shifted the hinges towards the centre of the laptop for better stability and sturdiness. It also comes with a 50% larger trackpad and larger keycaps for better productivity. The Stealth will also feature a physical camera lock allowing you to deactivate the webcam when not in use.

MSI CES2022 006

The Stealth will come with configurations supporting up to the Intel Core i9 and the NVIDIA GeForce RTX 3080 Ti Laptop GPU. It also comes with support for DDR5 RAM and Thunderbolt 4. It comes with options supporting 4K and UHD displays with up to 360 Hz refresh rates. It also comes with 6 speakers for a more immersive sound experience. Connectivity-wise, the MSI Stealth GS77/66 comes with support for WiFi 6E and also comes built-in with Intel’s Killer AX1675 and E3100 controllers.

Maxing out performance with the MSI Raider GE

MSI’s Raider GE is made to be a powerhouse gaming experience. Like the Raiders of the past, the new one comes with configurations to empower gaming without limits. This year, it comes with configurations supporting up to the Intel Core i9 and the NVIDIA GeForce RTX 3080Ti Laptop GPU. This is complemented by MSI’s own OverBoost technology which allows users to get every drop of performance from their laptop. It delivers up to 220 watts of power to unlocked unrivalled performance.

MSI CES2022 005

Similar to the Stealth GS, the Raider GE will come with support for DDR5 RAM and PCIe Gen4 SSDs. It comes with MSI’s new cooling technology and also supports multidisplay setups. The Raider is also one of the only laptops on the market to sport a 1080p webcam. Like it’s sibling it comes equipped with high refresh rate displays sporting up to QHD resolutions. It also has the Intel Killer E3100 ethernet and Intel Killer AX1675 WiFi controllers.

Putting Power In the Hands of Creators

Content Creation KV

MSI is also imbuing the Creator Z16 and Z16P with a boost in power. The latter is getting an extra 20% boost in performance thanks to the new Vapour Chamber Cooler which cools better and decreases the temperature further. In addition to this, the Creator Z laptops will be also be getting pen touch support.

Empowering Every Gamer

MSI CES2022 001

In addition to the two hero gaming laptops, MSI is also updating its other lineups including the MSI Crosshair 15, the MSI Pulse GL76/77, the MSI Katana and the MSI Sword. These laptops will be coming with Intel’s 12th Generation processors and also configurations supporting up to NVIDIA’s GeForce RTX 3070Ti Laptop GPU. They will also support DDR5 RAM and PCIe Gen4 storage.

PR Newswire

ThunderSoft Announces New Smart Cockpit Solution Based on Qualcomm SA8295 at CES 2022

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LAS VEGAS, Jan.7, 2022 — ThunderSoft, the world’s leading intelligent operating system product and technology provider released an all-new smart cockpit solution based on Qualcomm’s hardware platform SA8295 at the on-going CES 2022, to better satisfy the diversified demands from clients worldwide and accelerate the development of smart vehicle industry.

The latest smart cockpit solution leverages Qualcomm SA8295 platform’s outstanding performance regarding computing, graphic and image processing to build the one-chip multi-screen smart cockpit domain covering digital cluster, central console entertainment, front passenger entertainment, rear seat entertainment, streaming media rearview mirror, and head-up display, etc.

With SA8295’s unparalleled AI computing performance and multi-camera supporting capabilities, ThunderSoft’s new smart cockpit solution integrates low-speed driver assistance with the cockpit domain to better support 360° surround view and smart parking. In addition, SA8295’s new features in security and safety brought onboard the comprehensive security including user data encryption, the security of storage, function, and car-to-cloud, etc.

The full-screen scenario, supported by ThunderSoft advanced multi-screen linkage technology, can provide users with a more diversified and smarter immersive interactive experience. Meanwhile, the proven virtual assistant with voice recognition technology transformed the smart cockpit into a brand new personalized intelligent partner in the mobility space.

The movie-level visual effects 3D design and unprecedented human-machine interaction experience is also realized in the latest smart cockpit solution by Kanzi One that was newly launched by Rightware, ThunderSoft’s solely owned world’s leading user interface design tool provider. Besides, the one-stop screen projection solution integrated CarLink for the first time in the industry to fully meet the diversified consumer needs for smart vehicles.

ThunderSoft, as the world’s leading intelligent operating system product and technology provider, has been centering on the operating system as the core business, and devoting to the core technologies. It will create more products and solutions to keep up with the times, with an aim to meet the growing demands on intelligent products, and to build a colorful and intelligent world.

About ThunderSoft:

ThunderSoft, the world leading intelligent operating system products and technologies provider, has been continuously accumulating and innovating in the operating system field, with its business expanding gradually from smart terminals to AIoT, smart vehicle and smart industries. It has been successfully listed in 2015, which leads it to be China’s first listed technical company specialized in the intelligent operating system. Till now, the branches, subsidiaries and R&D centers of ThunderSoft have covered 37 cities around the world, with a total of nearly 10,000 employees.

PR Newswire

Luokung Announces Receipt of Nasdaq Notification Regarding Minimum Bid Price Deficiency

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BEIJING, Jan. 7, 2022 /PRNewswire/ — Luokung Technology Corp. (NASDAQ: LKCO) ("Luokung" or the "Company"), a leading spatial-temporal intelligent big data services company and provider of interactive location-based services ("LBS") and high-definition maps ("HD Maps") in China, today announced that it has received a notification letter from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it is not in compliance with the minimum bid price requirement set forth in Nasdaq Listing Rules 5550(a)(2) and 5810(c)(3)(A), which require that the closing bid price for the Company’s ordinary shares listed on Nasdaq be maintained at a minimum of US$1.00 and failure to maintain it for 30 consecutive trading days constitutes a compliance deficiency.

The notification has no immediate effect on the listing of the Company’s ordinary shares on Nasdaq.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has 180 calendar days from the date of notification, or until July 5, 2022, to regain compliance with the minimum bid price requirement, during which time the Company’s ordinary shares will continue to trade on the Nasdaq Capital Market. If at any time before July 5, 2022, the bid price of the Company’s ordinary shares closes at or above US$1.00 per share for a minimum of 10 consecutive business days, Nasdaq will provide written notification that the Company has achieved compliance with the minimum bid price requirement. In the event the Company does not regain compliance by July 5, 2022, the Company may be eligible for additional time to regain compliance or may be delisted from Nasdaq.

The Company intends to monitor the closing bid price of its ordinary shares and may consider options that may be available to achieve compliance, including, but not limited to, implementing a reverse share split of its outstanding ordinary shares at the end of the first or second compliance period, as the situation applies.

About Luokung Technology Corp.

Luokung Technology Corp. is a leading spatial-temporal intelligent big data services company, as well as a leading provider of LBS and HD Maps for various industries in China. Backed by its proprietary technologies and expertise in HD Maps and multi-sourced intelligent spatial-temporal big data, Luokung established city-level and industry-level holographic spatial-temporal digital twin systems and actively serves industries including smart transportation (autonomous driving, smart highway and vehicle-road collaboration), natural resource asset management (carbon neutral and environmental protection remote sensing data service), and LBS smart industry applications (mobile Internet LBS, smart travel, smart logistics, new infrastructure, smart cities, emergency rescue ,among others). The Company routinely provides important updates on its website: https://www.luokung.com.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements. Forward-looking statements include, but are not limited to, statements regarding our or our management’s expectations, hopes, beliefs, intentions or strategies regarding the future and other statements that are other than statements of historical fact. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "might", "plan", "probable", "potential", "should", "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination and analysis of the existing law, rules and regulations and other data available from third parties. Although we believe that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, we cannot assure you the statement herein will be accurate. As a result, you are cautioned not to rely on any forward-looking statements.

CONTACT:

The Company:
Mr. Jay Yu
Chief Financial Officer
Tel: +86-10-6506-5217
Email: ir@luokung.com

Investor Relations:
Ms. Carolyne Sohn
Vice President
The Equity Group Inc.
Tel: 415-568-2255
Email: csohn@equityny.com