Yearly Archives: 2022

PR Newswire

Lighting Controls Industry Expands as Awareness of Energy Solutions Grows

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The need to replace conventional lighting systems promotes global lighting controls
market growth, says Frost & Sullivan

SAN ANTONIO, June 21, 2022 /PRNewswire/ — The demand for energy-efficient lighting, alongside regulatory compliance and building codes are key drivers propelling the lighting controls market, finds Frost & Sullivan’s recent analysis, Growth Opportunities in Global Lighting Controls Industry. Growing consumer awareness of sustainable solutions and the need to replace conventional lighting systems will further boost the industry’s growth. The global lighting controls market is expected to reach $11.82 billion by 2028 from $7.13 billion in 2021 at a compound annual growth rate (CAGR) of 7.5%.

Lighting Controls Industry Grows.
Lighting Controls Industry Grows.

For further information on this analysis, please click here.  

“Lighting controls have transitioned beyond energy-saving devices to connected and intelligent devices that store and use data to enhance living conditions,” said Dennis Marcell Victor, Energy & Environment Industry Analyst at Frost & Sullivan. “As light points generate valuable amounts of data, machine learning (ML) and artificial intelligence (AI) can provide lighting controls service providers analytical insights about users to create additional revenue.”

Victor added: “The construction industry’s post-COVID-19 pandemic recovery will encourage stakeholders to prioritize enhancing commercial and residential buildings for additional comfort. This will lead them to install platform solutions that can control, analyze, and integrate all systems in a building, including lighting.”

Growing consumer awareness toward energy efficiency and sustainable solutions presents the following growth opportunities for lighting controls service providers:

  • The utility sector should implement energy management strategies in the industrial segment, as demand response programs are still underutilized in the lighting industry, followed by other commercial buildings.
  • Lighting controls manufacturers should meet codes compliance and obtain certifications to distinguish their products in the market.
  • Companies can offer comprehensive facility support and analytical solutions with data collected from light points as a value-added service of lighting systems.

Global Lighting Controls Growth Opportunities is the latest addition to Frost & Sullivan’s Energy & Environment research and analysis 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 six decades, Frost & Sullivan has been 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.

Contact:
Nicole Ryder
Corporate Communications
E: Nicole.Ryder@frost.com
https://www.frost.com/

Global Lighting Controls Growth Opportunities 
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PR Newswire

IBM, DELTA AIR LINES WPP, 4A’S, IAB, AD COUNCIL AND OTHER INDUSTRY LEADERS ACT TO MITIGATE BIAS IN ADVERTISING TECHNOLOGY

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IBM Delivers Open Source Toolkit to Identify and Mitigate Bias in Advertising Technology

CANNES, France, June 20, 2022 /PRNewswire/ — Today, leading companies committed to improving fairness in marketing campaigns. The initiative, announced at the Cannes Lions International Festival of Creativity 2022, brought together agencies, brands, and other leaders to generate awareness and take action towards mitigating bias in advertising technology. Committing organizations include IBM (NYSE: IBM), Delta Air Lines, WPP, Mindshare, 4A’s, IAB and the Ad Council.

The action is the most recent effort by IBM to drive education and awareness around the impact of bias in advertising technology. In 2021, the company launched a research initiative to explore the hypothesis that bias can exist in ad technology, which initial findings confirmed. The research also showed that mitigating bias in ad technology was possible using AI tools and resources in marketing processes. More industry participation and data collection are needed to better understand the potential impact of bias on these campaigns, but several industry leaders are demonstrating early activism by raising awareness and taking action via IBM’s Advertising Fairness Pledge.

“While the risk of bias in advertising is well known, by making this commitment, these organizations are among the first in the industry to take action,” said Bob Lord, IBM Senior Vice President of The Weather Company and Alliances. “Together, we are agreeing to educate ourselves and our companies and ask other industry leaders to join us in helping to mitigate bias in advertising.”

Toward that effort, IBM also announced the release of its gratis Advertising Toolkit for AI Fairness 360, an open-source solution deploying 75 fairness metrics and 13 state-of-the-art algorithms to help identify and mitigate biases in discrete data sets. A playbook and sample code are also made available for ease of use. Organizations utilizing the toolkit may gain a better understanding of the presence and impact of bias on their ad campaigns, as well as the makeup of their audiences.

“Used correctly, data can help brands personalize consumer engagement and identify the most relevant touchpoints. However, we know that bias can exist in algorithms or technology, and that’s why we’re helping our clients to evaluate how and when to use data in a meaningful way that will benefit the customer experience,” said Mark Read, CEO of WPP. “Through WPP’s GroupM, we’ve developed the Data Ethics Compass to help clients navigate the challenges of using datasets, while IBM’s new Advertising Toolkit for AI Fairness 360 will help us to better understand the potential impact of bias. Consumers rightly expect brands to use their information in a fair way and for the industry to tackle data bias collectively, which can ultimately result in increased engagement and commercial outcomes.”

Bias is often unintentional, a result of human assumptions and judgments encoded into algorithms that can result in unfair targeting, exclusion of certain groups, and marketing campaign failures. Organizations taking the pledge can contribute data to ongoing studies that seek to better explain the impact of bias. According to Salesforce’s 2022 State of the Connected Customer survey, nearly 62 percent of consumers surveyed reported they are concerned about bias in AI, up from just 54 percent two years prior, emphasizing the imperative for brands and agencies to better understand its impacts.

“As technology and data prevalence accelerates, the risk for bias in advertising compounds. It is our duty to address this head-on,” said Adam Gerhart, Global CEO of Mindshare. “We believe the industry needs to take clear and intentional action, which is why we are committing to leverage the Advertising Toolkit for AI Fairness 360.”

As the advertising industry continues to face issues related to privacy and transparency, many organizations believe that tackling bias in ad tech could be a next key area of focus for marketers. Nearly $1 trillion was spent on digital advertising globally in 2021, much of which flows through programmatic engines that segment and target specific audiences, sometimes missing large consumer groups in the process. With increasing consumer demand for transparency in how their data is used, marketers must look for new ways to remain effective. Tapping into alternative privacy-forward data sources, such as weather data, can be effective predictors of behavior that could also help rebuild trust with consumers.

“As a global brand, we know that every decision we make, whether it’s about a supplier, an employee or an ad campaign, is a reflection of our values and the change we want to see in the world,” said Emmakate Young, Delta’s Managing Director of Brand Marketing. “We’ve long been focused on inclusive representation in our campaign creative, this effort allows us to go a step further to bring more inclusive representation to our campaign delivery.”

To download the Advertising Toolkit for AI Fairness 360 and the associated playbook, to take the Advertising Fairness Pledge, and to learn more about how bias in advertising can negatively impact businesses and consumers, visit IBM’s Bias in Advertising microsite.

To learn more about IBM Watson Advertising solutions and services, visit here.

Statements regarding IBM’s future direction and intent are subject to change or withdrawal without notice and represent goals and objectives only.

About IBM
IBM is a leading global hybrid cloud and AI, and business services provider, helping clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly and efficiently. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service. Visit www.ibm.com for more information.

IBM Contacts:

Luca Sesti
luca.sesti@ibm.com

Clare Chachere
Clare.chachere@ibm.com

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Accessories, Lifestyle, News

Samsung Announces Creator Focused ViewFinity S8 Monitor

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Samsung seems to be on a roll with all their products this year. The company has only just announced some of the most compelling lifestyle products with the expansion of their BESPOKE line up and their new Smart TV offerings. However, it looks like the company isn’t done just yet. Samsung has announced a brand-new, high resolution display with certified colour accuracy aimed at creators.

ViewFinity S8 1

The new ViewFinity S8 brings 98% coverage of the DCI-P3 gamut with 5ms gray to gray response times. The display seems to want to take on Apple’s Pro XDR display with high resolution IPS panels. The panels come with 1000:1 contrast ratios and a UHD resolution of 3840×2160 pixels.

It will be available in two sizes: 32-inch and 27-inch. Unlike Samsung’s Odyssey G8 monitors, the ViewFinity monitors are flat panels. However, they are made for productivity – particularly if you need colour accuracy. The display is certified by PANTONE and can even support the new 110 colours introduced in PANTONE’s SkinTone Guide. It is also HDR capable; with the 32-inch supporting VESA’s HDR 600 standard while the 27-inch supports HDR 400.

ViewFinity S8 3

The ViewFinity S8 Monitors come with a matte display which is also UL certified to be Glare Free. The matte finish helps disperse glaring lights while preserving colour integrity and reducing eye strain. It also comes with Adaptive Picture which optimises settings to suit your content while preserving eye health and also Eye Saver mode which reduces blue light exposure significantly. The monitors are also flicker free to reduce eye strain.

When it comes to connectivity, the ViewFinity S8 comes with 1 DisplayPort, 1 HDMI port and 1 USB-C. Connecting via USB-C enables deeper colour accuracy and up to 10Gbps data transfers. It also comes with a USB Hub feature which allows you to connect USB interfaces to your computer via the monitor.

ViewFinity S8 Model 1

The monitors also come with an environmentally aware, ergonomic design. Samsung has developed and incorporated new materials made from ocean-bound plastics to help reduce marine waste. These plastics are not only used in the body of the monitor but also in some of the more crucial components of the monitor. They are also more power efficient than before with Samsung’s Eco Savings Plus technology which reduces pixel brightness in sections of the image with black pixels for up to 10% more power savings.

Pricing & Availability

The Samsung ViewFinity S8 will be available in 32-inch and 27-inch sizes. It is currently available in South Korea for KRW820,000 (MYR2,794.88/USD$634.94) and KRW720,000 (MYR2,454.51/USD$557.60) respectively.

The monitors will be available globally according to regions starting in June 2022.

Official Specifications

image 6
Source: Samsung
PR Newswire

RevBits Endpoint Security Wins the 2022 Fortress Cybersecurity Award for Endpoint Detection Solutions

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Cybersecurity solutions provider RevBits named as a winner for Endpoint Detection in the Product or Service Category for its Endpoint Security solution

MINEOLA, N.Y., June 20, 2022 /PRNewswire/ — RevBits, a unified cybersecurity company for enterprise endpoints, cloud and on-premises systems, today announced it has won the 2022 Fortress Cybersecurity Award for Endpoint Detection for its solution RevBits Endpoint Security in the Endpoint Detection – Product or Services Category. The Fortress Cybersecurity Award, administered through The Business Intelligence Group, seeks to identify and reward the world’s leading companies and products that are working to keep data and electronic assets safe from threats.

RevBits Endpoint Security was named a winner in the Product or Service Category for Endpoint Detection, and RevBits Privileged Access Management was recognized as a 2022 award finalist.
RevBits Endpoint Security was named a winner in the Product or Service Category for Endpoint Detection, and RevBits Privileged Access Management was recognized as a 2022 award finalist.

RevBits is pleased to be awarded in the following categories:

  • 2022 Fortress Cybersecurity Award – Product or Services / Endpoint Detection
    • RevBits Endpoint Security
  • 2022 Fortress Cybersecurity – Recognized as a Finalist
    • RevBits Privileged Access Management

“As a developer of cybersecurity software, our focus is providing customers with sophisticated and robust solutions that improve their security posture,” said David Schiffer, RevBits CEO. “To be awarded for our Endpoint Security solution and receive recognition from Fortress for our Privileged Access Management product is very rewarding. Through the efforts of our development teams and technology road map led by our CTO, Mucteba Celik, we will continue to enhance our solutions to deliver superior detection, blocking, mitigation response, and control for our customers.”

“Endpoint Security (EPS) is a key product in our suite of enterprise solutions,” said Mucteba Celik, RevBits CTO. “The EPS marketplace is competitive, and to have been recognized by Fortress is a great honor. “Our development efforts on EPS have been centered on building a 100% detection capability with a zero false positive reporting. We have made great strides in constructing the most capable endpoint security, detection and response solution available. For example, we developed anti-rootkit technology that protects against kernel-level malware attacks, which has been awarded a U.S. Patent.”

About RevBits

Established in 2018, RevBits is a comprehensive cybersecurity company that is dedicated to providing its customers with superior protection and service. By offering multiple advanced security products, that can be administered through a unified security platform, RevBits delivers protection against the most sophisticated cyber threats companies face. RevBits is headquartered in Mineola, NY, with offices in Princeton, NJ, Boston, MA, London (England), and Antwerp (Belgium). For more information on RevBits please visit www.revbits.com/aboutrevbits.

Media Contact: neal.hesterberg@revbits.com 


Accessories, News

Cisco Urges Customers to Upgrade to Avoid Vulnerability Exploit

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Cybersecurity has come leaps and bounds since we first started exploring the internet. Technology and the knowledge surrounding it have also progressed significantly. With that, so too has our understanding of the need to secure and protect our connections.

Cisco has recently issued an advisory to customers to upgrade their routers. The advisory comes in light of a vulnerability which allows a remote attacker to execute arbitrary code in a series of routers. This would cause a Denial of Service condition which would prevent access to the internet and connected servers.

routers small business rv series routers jpg
Source: Cisco

The vulnerability affects relatively dated business routers – specifically, the Cisco Small Business RV110W, RV130, RV130W, and RV215W Routers. Malicious actors are able to access root privileges through the web management interface of the routers. While Cisco is aware of the exploit, it seems like the company has no plans to patch the vulnerability in these dated devices. Of course, the company has announced the end-of-life status in an advisory released back in 2019.

The only silver lining for those planning to continue using the aforementioned routers is that the vulnerability can only be exploited if the web management interface is enabled. This can be determined by checking the status within the settings of the router. That said, it is definitely advisable to update to a more current router for better coverage and connectivity if not anything else.

Lifestyle, Mobile, News, Social Media

Telegram Goes Premium for MYR 22.99/month

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There were rumours that Telegram will start offering a “premium” plan that allows users to have access to a more powerful Telegram than regular users. That rumour is not a rumour anymore though. As of today, Telegram has made that rumour a reality for about US$ 5 a month (MYR 22.99*).  

Now is the time to ask; “why do you need to pay for Telegram Premium?” 

As paying users, you get access to upload files with up to 4GB in size. That means you can technically send out an entire Full HD movie out to your friends via Telegram. Regular users can upload files up to 2GB. Paying users also get to download their files faster than before, as fast as your internet connection can go, which means that a 4GB file might not be too big of an issue when you have high-speed internet. 

You get your limits doubled too with Telegram Premium. You can follow up to 1000 channels and groups. You can pin up to 10 chats instead of five. Instead of two accounts in a single app, premium users get to work with up to four accounts. At the same time, you can now write a longer bio on your Telegram profile with links in it. At the same time, with up to 400 saved GIFs, responding to texts with witty images is faster than ever. 

Paying users can also convert voice to text within the chat now. Instead of listening to a voice note, you can just get Telegram to convert voice messages to texts. It also improves over time with your rating and input.  

At the same time, paying users get to have unique reactions to texts. You have exclusive stickers that is only available to paying users and over 10 new exclusive emoji to react to messages. Even your profile pictures can be animated now, alongside a premium badge on your profile so that others know you are paying for Telegram. If you want, you can even change your app icon on your smartphone. Of course, the other improvement to Telegram with Premium is that you do not get served ads in public channels. 

To get Telegram Premium, you must update your app to version 8.8 which is currently only available on iOS for now. The 8.8 update is coming to Android devices very soon, so we should see some paying users from both the iOS and Android realms. More information and improvements on Telegram version 8,8 can be found on their blog.  

*Official Malaysia Pricing 

Business, Editorial

Enabling Global Expansion Through An Agile & Adaptable Payment System

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This article was written from a sit-down interview withYuval Ziv, President of Nuvei Corporation.

The world we know is ever-changing. With the advent of digital technologies and rapidly adapting legislation, it’s become even more challenging for businesses to grow across borders. Where it once was a matter of having an international website, it’s now a question of localisation and adaptation. This reality rings true even when handling international payments and transactions. However, companies like Nuvei provide a unique proposition of a single, modular interface to manage most, if not all, of the challenges of digitalisation when it comes to payments.

Paypal, VISA, iPay88, Stripe and even Apple Pay are some of the world’s most popular payment methods right now. However, when it comes to accepting these payment methods for businesses, it can be a long, tedious process. What’s more, there is also the added complication of regulatory compliance and knowing the lay of the land.

paying using a card
Photo by Kampus Production on Pexels.com

These hurdles don’t just delay global rollout and expansion. They, can, at times, be the factors that cause businesses and companies to lose momentum. In other words, they can be the straws that break the camel’s back. That said, a business’s aspirations should never be limited by uphill battles. Collaboration and onboarding of the right solutions will always be at the heart of any foolproof strategy. However, too many partners can also create more problems.

A Single Turnkey for Most Hurdles

The need for a single turnkey solution is more than just apparent; it’s imperative. That’s where Nuvei has chosen to develop its single API which brings together everything businesses need when it comes to payment solutions. The API is continually being developed by their in-house team of developers as the company continues to grow even through acquisitions.

In fact, Nuvei has most recently acquired Paymentez, Mazooma and Simplex. These acquisitions expand the reach and scope of services offered by Nuvei. The added features and services that they bring will be integrated seamlessly into the existing Nuvei API. Businesses that have deployed the API will then get an update which will give them access to these new markets and services. The company’s internal development team allows them to have the agility needed to bring new products to market as well as the freedom to adapt near instantaneously. What’s more, its core platform remains unchanged and flexible throughout.

close up photo of a man holding cellphone and a card
Photo by Ivan Samkov on Pexels.com

It is this agile and adaptable approach that makes a viable single turnkey solution. With a continually evolving marketplace and changing legislative environment, partners need to be able to help alleviate some of the burdens of business without becoming a burden themselves.

Payments are just the beginning

Let’s just face the hard truth, dealing with payments across markets can be a headache. Aside from legislative and technological hurdles, the biggest choice a company can make is which payment platform they choose to support. This reality changes from country to country and perhaps even from region to region within a country. There is no single answer that can accurately predict the proliferation of a payment gateway or service.

image 5
Source: Nuvei

That said, a business partner which can provide you with these insights would be invaluable. A business partner that can provide you with insights, as well as access to all the possible payment platforms, is pivotal. Nuvei is poised to be able to do this with access to numerous payment gateways as well as provide you with the insights needed to grow your business effectively. Of course, we’re talking about payment platforms here.

Take for instance, in Malaysia, we have Touch ‘N Go Wallet, Boost, GrabPay and ShopeePay. Each of these platforms is able to not only process digital payments but also bring a large number of potential customers. Choosing between them, if you really need to, could be the difference between success and failure. Without looking at any insights, you think that accepting TnG’s eWallet would be a safer bet when it comes to payment methods. However, factors such as time in the market as well as adoption could be different. In this case, both GrabPay and TnG’s eWallet are front runners perception-wise. That said, we can never 100% that the other methods may not be greater than what’s reported. Getting a dashboard where this information is available would allow businesses to make informed decisions.

Yuval Ziv President Nuvei
Source: Nuvei

“Every market, every user has their payment method… if we enable a merchant to collect or accept payments by only the minority or some of the payment methods, you will cause a merchant to lose users.”

Yuval Ziv, President at Nuvei Corporation

Nuvei’s platform not only allows businesses to see these vital insights but also gives them the freedom to adopt and choose between the payment methods available in the country and region. The flexibility and freedom for businesses to not only accept but also implement their preferred service through a single helps them grow on their terms with access to impactful insights.

Dealing with More than Just Implementation But Remaining Flexible

Today’s marketplace is no longer simply about market access or payments either. It’s about growing while mitigating risks and adapting to new realities as they emerge. Conventional solutions tend to always lock businesses into a single, inflexible mode of operations but it goes without saying, that a one-trick pony can be detrimental when it comes to business growth. In addition, streamlining allows business cost reductions that can be channelled elsewhere.

Yuval Ziv President Nuvei
Source: Nuvei

“The first challenge working globally… is understanding the user’s preferences and then enabling all of those payment methods in our checkout experience.”

Yuval Ziv, President at Nuvei Corporation

If that is true for general business practices, what more for payment solutions. Businesses are flung into a landscape where they will need to keep tabs on regulatory changes as will undoubtedly affect them. If the business has services rooted in the gig economy, it has the added complication of pay-outs.

These complex day-to-day activities can’t be avoided even if we try to. Businesses require visibility and peace of mind when they happen. Nuvei doesn’t just provide businesses with access to payment methods, its single, modular API brings along payment orchestration. Using this, merchants and businesses are able to integrate payments received and pay-outs into a single platform where they have eyes on everything. The platform is also able to generate unified reports that will allow businesses to get a complete picture of their business health.

black samsung tablet computer
Photo by PhotoMIX Company on Pexels.com

In addition to this, Nuvei is constantly updating its business insights and practices. They have teams that are constantly monitoring markets for updates in legislation and impactful insights. The company not only updates their API with these new developments but also reacts to ensure that its client’s businesses remain unaffected. In fact, they also act to help mitigate and manage risk when changes happen and also when required by the client.

Peace of Mind in an Ever-evolving Landscape

There’s nothing better than having peace of mind when it comes to a business’s day-to-day activities. That’s essentially what Nuvei is promising with their Payment platform. However, the company has its eyes on the future as they continue to grow. With the emergence of digital banking and open banking worldwide as well as the continued influence of cryptocurrencies and the blockchain, the company is committed to ensuring that its platform remains one of the most flexible and robust.

Their platform already supports payments via cryptocurrencies and supports clients in the NFT space. In fact, the company sees the emergence of cryptocurrencies and the blockchain as opportunities. Implementation of blockchain and tokenization to increase the security of the platform could be in its future. However, for now, the company remains committed to providing a turnkey solution for customers when it comes to payment management, acceptance and orchestration.

Lifestyle, Mobile, News

WhatsApp Now Allows You to Hide from Select Contacts and Mute Users in Group Calls 

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WhatsApp last week rolled out a new update to their app. No, they have not added the Communities functions yet. They are still testing the feature and they tell us that they are getting ready to launch it soon.  

The update we are referring to last week is mostly an update to their privacy feature and a few other functions. One of the newer things they have finally added to give you more control over your own privacy is the ability to limit the information you share with the people you choose to share or not share them with. You can now block specific contacts from viewing your WhatsApp profile photos and statuses.  

While this is a new feature to WhatsApp, Telegram users are already quite familiar with the function. In Addition to that, Telegram now also do not require users to register a phone number to be attached to the messenger account. WhatsApp still requires you to attach a phone number to your messenger account, which might not change for a while. 

There is more that WhatsApp has updated. While group calls have been a thing for a long time on WhatsApp, the more granular control to group admins has not been a feature. Users must be responsible for their own call controls. While this may not be a bad thing in regular social calls, users who wants to use WhatsApp as their main instrument in corporate calls might find it annoying.  

To address that, WhatsApp now allows hosts of group calls to mute other users. It could help a lot in muting users who might have forgotten to mute themselves in the call. Either that or if you do not want to listen to that person at all.  

Muting people in a smaller group call could be easy but monitoring a large group (up to 32 participants) can be rather difficult. Since you can only rely on the small screens of your smartphones, there is also a limit to how many people can fit in your display. WhatsApp is making the interface much easier to work with though for larger group calls. The indicator not only helps you monitor large group calls but also alert you of late joiners to the call.  

WhatsApp is looking to transform itself from being a simple messenger service to something that users can even rely on in a corporate setting. They announced the Communities feature a few months ago and that is still on track to becoming available to every WhatsApp user by the end of the year. It is now also a video calling and audio calling tool for its users as long as they get data or internet. Even with the backlash that was their privacy policy update last year, WhatsApp is still one of the most popular mobile messenger services we have come across and is still the messenger of choice by many Malaysians. The announcements made today are mentioned on WhatsApp’s Twitter account.  

PR Newswire

Aiken Digital – SG / MY Join Forces with Onyx Island

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SINGAPORE, June 20, 2022 /PRNewswire/ — Aiken Digital, a global growth agency that specialises in growth consulting, experience design, system development, creative & content, XB ecommerce and SaaS products, and Onyx Island, a leading digital experience agency in APAC, announced today on the completion of the merger between Aiken Digital and Onyx Island with a total workforce strength of 80 based in Singapore, Malaysia and Indonesia.

In connection with the merger, Onyx Island will become a wholly owned subsidiary of Aiken Digital. This merger will see a synergistic collaboration between the both agencies and evolve its offerings to serve the combined customer base of Aiken Digital & Onyx Island. Currently, the combined clientele includes Mastercard, L’Oréal, Luxottica, LVMH, Sotheby, L.D. Waxson, Beam Suntory, Cortina Watch, Philip Morris SG/MY, Salesforce APAC, NTUC and more.

From this merger, Aiken Digital will be known as Aiken Group, which will streamline its core businesses into 4 key business units as follows:

  1. Aiken Digital – Digital Consulting & Services
  2. Fixx Labs – Web 3.0 & Blockchain Solutions
  3. Social Commerce Cloud
  4. Esports & Gaming

Joseph Chua, CEO of Aiken Group, said, “Building upon our proven track record of successful M&A, this merger combines our expertise in consulting and digital experiences as we reimagine what we can deliver to customers as a leading global growth agency. We look forward to Onyx Island’s team joining Aiken Digital, further cultivating a shared culture of innovation and driving even greater value for Aiken Group’s stakeholders and partners.”

Danny Murong, Managing Director of Onyx Island, said, “Onyx Island has been reshaping the digital experience landscape for the past 10 years, helping our clients to improve the user’s experience through digital platforms/products. We stand for innovation and unwavering support of our clients and their business operations and now we are extending our commitment to exceptional service and innovation. Combining our assets and talented team with Aiken Digital’s experience in this field creates a remarkable growth agency to serve the needs of all our existing and future clients. Collectively, we will deliver even more value and innovation to customers, enabling them to thrive in this increasingly complex multi-cloud era.”

Danny Murong (pictured 5th from left), Zhi Wei Koh (pictured 3rd from left), Joshua Ooi (pictured 1st from right) & Wei Liang Lee (pictured 4th from right)
Danny Murong (pictured 5th from left), Zhi Wei Koh (pictured 3rd from left), Joshua Ooi (pictured 1st from right) & Wei Liang Lee (pictured 4th from right)

Following the closing of the merger, Aiken Digital will strengthen their ranks with a few key leadership positions within Singapore & Malaysia operations. The agency will appoint Danny Murong as the Chief Operating Officer (COO) – Aiken Group, Zhi Wei Koh as the Creative Director, Joshua Ooi as the Project Management Office Lead (PMO) and Wei Liang Lee as the Technical Lead.

About Aiken Digital

Aiken Digital is an established growth agency that focuses on developing technology solutions powered by AI to ignite a new generation of growth for companies.

Aiken has a global footprint with 7 offices worldwide in Malaysia, Singapore, China and UK. Founded in 2006 and head-quartered in China, Aiken serves multiple large clients such as Mastercard, Sotheby, L’Oréal, and more.

About Onyx Island

Onyx Island’s expertise in Digital Marketing, Social Media, UI/UX Design, Web Development, CRM Implementation & System Integration, Marketing & Sales Automation has helped key clients such as Beam Suntory, Cortina Watch, Luxottica, Philip Morris and Salesforce APAC build a positive user experience for their brands, fostering lasting and valuable relationships with their customers.

Founded in 2010, Onyx Island is headquartered in Singapore with regional operations in Bangladesh, Indonesia and Malaysia.

PR Newswire

Trajan to acquire leading chromatography consumables and tools business building critical mass in the gas chromatography portfolio

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Highlights

  • Trajan to acquire Chromatography Research Supplies, Inc. (CRS), a leading global manufacturer of high-quality analytical consumables
  • Provides Trajan with enhanced and extended production capabilities to service its growing gas chromatography business. Strengthens Trajan’s product portfolio particularly in the critical area of the gas chromatography inlet and sample introduction
  • Expands global infrastructure footprint with the acquisition of manufacturing real estate assets in the US
  • Follows three successful acquisitions and one strategic investment since listing on the ASX in June 2021
  • Acquisition delivers FY22 forecast revenues of US$14.1 million (A$20.1 million[1]) and EBITDA of US$4.2 million (A$6.0 million[1])[2], and estimated annual synergies of ~A$1.3 million[7]
  • Acquisition price of US$43.3 million (A$61.9 million[1]) implies ~9.5x FY22F EBITDA (pre synergies)[3]
  • Expected to deliver FY23F earnings per share accretion of >31%[1],[4],[5],[6] (excluding the impact of synergies) or >42% (including 100% of the pro forma impact of identified corporate savings and product line synergies[7])
  • Acquisition to be funded via a fully underwritten A$29.7 million institutional placement (Placement), A$20.0 million in acquisition debt financing through a facility with HSBC and $13.4 million from existing cash
  • Investor webinar to be held at 10:30am (AEST) Friday 17th June 2022. Register via this link.

MELBOURNE, Australia, June 19, 2022 /PRNewswire/ — Global analytical science and device company Trajan Group Holdings Limited (ASX: TRJ) (Trajan or the Company) has today announced the signing of a binding share purchase agreement and a real estate purchase agreement to acquire 100% of Chromatography Research Supplies, Inc. (CRS), a leading global manufacturer of high-quality analytical consumables based in Kentucky, USA.

Having operated for over 25 years, CRS is a leading manufacturer of electronic and manual crimping tools, gas filters, ferrules, and injection port septa. Its products are used in analytical laboratories and various other industries worldwide and are known for their quality, ease of use and high levels of support.

The acquisition is highly complementary to Trajan’s existing product portfolio in the analytical workflow and consolidates Trajan’s current market leading position in gas chromatography sample introduction, supporting the quality of flow path connection and sealing functions with two leading product lines – septa and ferrules. CRS has been a long-term supplier of consumables to Trajan since Trajan’s acquisition of SGE Analytical in 2013.

In addition, the acquisition extends Trajan’s portfolio via CRS’ other product lines. Such product lines include tools that relate to sealing sample vials which are highly complementary to the Trajan Soltec business acquired in late 2018, and coating technologies that align strongly with Trajan’s automation businesses Axel Semrau and LEAP Pal Parts which were both acquired in late 2021.

CRS has a track record of strong financial performance, with accelerated growth expected in FY22F, adding FY22 forecasted revenue of US$14.1 million (A$20.1 million[8]) and forecast EBITDA of US$4.2 million (A$6.0 million[8])[9]. The acquisition price of US$43.3 million (A$61.9 million[8]) implies a ~9.5x EV/FY22F EBITDA[10] on a pre synergies basis.  

Trajan has identified significant revenue and cost synergies as well as corporate savings realised from the date of acquisition and product line alignment, for total estimated annual synergy benefits of ~A$1.3 million[11], expected to ramp up within the first 2–3 years of ownership. Through the consolidation of current manufacturing facilities, Trajan can realise additional synergies over the medium to long term.

Stephen Tomisich, Chief Executive Officer and Managing Director of Trajan said: “The acquisition of CRS enhances multiple areas of our business and builds on our previous successful acquisitions to deliver comprehensive and best in class products in the analytical workflow.”

“Our market leadership in gas chromatography is enhanced with the addition of septa and ferrules components, as well as introducing a broader portfolio of products in other areas of the analytical workflow that build on our automation business.

As with our previous acquisitions, we have partnered with CRS for many years, understand their business, and know precisely where they fit within Trajan. The acquisition is earnings accretive and able to be rapidly integrated. Importantly, our acquisitions are building on capabilities to achieve our vision of personalised, preventative, data-based healthcare.”

Trajan has a proven framework to identify, acquire and integrate complementary businesses into its infrastructure. This framework involves a ‘founder friendly’ approach which is driven by deep industry relationships, targets solutions within the analytical workflow that have the potential to become industry best standard, is complementary to one or multiple business segments, and provides accretive and strategic opportunity to enhance shareholder value. 

Utilising this framework Trajan has, over the past 11 years, built a strong track record of delivering acquisitive and organic growth. That process has accelerated since the Company’s IPO in June 2021, having acquired laboratory automation business Axel Semrau GmbH in November 2021, microsampling business Neoteryx LLC in December 2021, and LEAP PAL Parts and Consumables in December 2021, as well as entered a strategic investment in consumer health monitoring with Humankind Ventures Ltd (trading as Forth) in November 2021.

Acquisition consideration

Trajan is acquiring CRS for US$43.3 million (A$61.9 million[12]) through a share purchase agreement and a real estate purchase agreement, the latter being for the purchase of the land and building from which CRS operates in Kentucky, USA.   

The Company will fund the acquisition of CRS via a fully underwritten A$29.7 million Placement to eligible institutional, sophisticated, and professional investors, an acquisition debt facility from HSBC of A$20.0 million and A$13.4 million from existing cash. Completion of Trajan’s acquisition of CRS is conditional on completion of the Placement and on Trajan satisfying customary conditions to drawdown under the HSBC acquisition financing facility.

The Placement is being issued at an offer price of $2.00 per new share (Offer Price), which represents a 11.1% discount to the last closing price of $2.25 on 16 June 2022.

The Placement will result in the issue of approximately 14.8 million new shares (New Shares), representing approximately 11.0% of Trajan’s existing shares on issue. The New Shares issued under the Placement will rank equally with existing Trajan shares at their date of issue.

Share Purchase Plan

Trajan will also offer eligible shareholders in Australia and New Zealand the opportunity to participate in a non-underwritten Share Purchase Plan (SPP). The SPP has a limit of $30,000 per eligible shareholder.

  • New Shares under the SPP will be issued at $2.00 per share, being the same price as the Offer Price under the Placement.
  • The SPP is being undertaken to raise up to $5.0 million[13].
  • Trajan intends to use the proceeds of the SPP to support the Company’s growth objectives through further strategic acquisitions and organic growth opportunities.
  • The SPP will open on Friday, 24 June 2022 and is expected to close at 5.00pm (AEST), Tuesday 12 July 2022.
  • Further details relating to the SPP will be provided to eligible shareholders in Australia and New Zealand in due course.

Canaccord Genuity (Australia) Limited and Ord Minnett Limited are joint lead managers and underwriters to the Placement and DLA Piper is acting as legal advisor to Trajan.

Indicative timetable

The timetable below is indicative only and subject to change. The Company reserves the right to alter the dates at its discretion and without prior notice, subject to the ASX Listing Rules and Corporations Act 2001 (Cth).

Event

Date[14]

SPP Record Date

7:00pm, Thursday, 16 June 2022

Offer announcement

Friday, 17 June 2022

Placement bookbuild opens

Friday, 17 June 2022

Placement bookbuild closes (all jurisdictions)

2:00pm, Friday, 17 June 2022

Announce completion of Placement and trading halt lifted

Monday, 20 June 2022

Settlement of New Securities under the Placement (DvP)

Wednesday, 22 June 2022

Allotment and normal trading of New Securities issued under the Placement

Thursday, 23 June 2022

SPP opens

Friday, 24 June 2022

SPP closes

5:00pm, Tuesday, 12 July 2022

SPP results announced to the ASX

Friday, 15 July 2022

SPP Securities issued

Tuesday, 19 July 2022

Authorised for ASX release by the Board of Trajan Group Holdings Limited.

[1] AUD/USD 0.70 based on assumed AUD/USD exchange rate

[2] CRS FY22F EBITDA includes a rent expense of US$228K

[3] EV / FY22F EBITDA multiple of 9.5x is based on an enterprise value of US$40.2 million (excluding the acquisition of freehold title to real estate owned by CSR for US$3.1 million) and an FY22F EBITDA of US$4.2 million converted to AUD at AUD/USD0.70

[4] Before one-off transaction and implementation costs

[5] Accretion assumes a pre-tax interest rate of 4%

[6] FY23F accretion assumes analyst consensus NPAT estimate of A$8.8m and CSR NPAT of A$4.7m (excluding corporate savings and product line synergies) and an effective tax rate of 20% for CSR based on Trajan management’s due diligence

[7] Refer to page 17 of the ASX Investor Presentation dated 17 June 2022

[8] AUD/USD 0.70 based on assumed AUD/USD exchange rate

[9] CRS FY22F EBITDA includes a rent expense of US$228K

[10] EV / FY22F EBITDA multiple of 9.5x is based on an enterprise value of US$40.2 million (excluding the acquisition of freehold title to real estate owned by CSR for US$3.1 million) and an FY22F EBITDA of US$4.2 million converted to AUD at AUD/USD0.70

[11] Refer to page 17 of the ASX Investor Presentation dated 17 June 2022

[12] AUD/USD 0.70 based on assumed AUD/USD exchange rate at time of completion

[13] The Company reserves its discretion regarding the final amount to be raised under the SPP

[14] The above timetable is indicative only and is subject to change without notice. All dates and times are Australian Eastern Standard Time (AEST).

About Trajan

Trajan is a global developer and manufacturer of analytical and life sciences products and devices founded to have a positive impact on human wellbeing through scientific measurement. These products and solutions are used in the analysis of biological, food, and environmental samples. Trajan has a portfolio and pipeline of new technologies which support the move towards decentralised, personalised data-based healthcare.

Trajan is a global organisation of 600 people with seven manufacturing sites across the US, Australia, Europe, and Malaysia, and operations in Australia, the US, Asia, and Europe.

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