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PR Newswire

Osome Raises a $16M Series A to Expand its AI-based Accounting Platform to Global Markets

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SINGAPORE, June 18, 2021 — Osome, a super-app that digitizes accounting and compliance services for SMEs, has raised $16M in a Series A funding from a group of investors including Target Global, AltaIR Capital, Phystech Ventures, S16VC, and Peng T. Ong, an angel investor. The capital enables Osome to expand its footprint internationally, as well as to fuel product integrations. 

"Back-office operations are annoying, tedious yet mission critical for businesses, especially for SMEs. Remarkably, an average entrepreneur spends 68% of their time to deal with routine tasks vs 32% to strategize and deliver on their long term goals. Osome combines artificial intelligence software with operational excellence to automate administrative, accounting, payroll and tax-related work and help entrepreneurs focus on what they can do the best – growing their business", Victor Lysenko, co-founder and CEO of Osome, says. "We strive to build a future where small business owners can fully rely on the technology in their administrative routine".

The demand for Osome services has accelerated with COVID-19 as clients recognized the importance of automation. This has led to more than 100% YoY revenue growth and $9.5M ARR with over 6,000 happy customers in Hong Kong, Singapore, and the UK. Additionally, the company has identified a product / market fit in the fast-growing e-commerce segment and will double down on it in the next 18 months. 

Osome’s core offering is online accounting services for SMEs, especially those involved in e-commerce — аccountants take over the documents and convert them into actionable numbers, tax filings and reports, making accounting and bookkeeping service for online sellers as simple as ever.

The company also helps with business set up and provides corporate secretary services — Osome checks compliance, tracks deadlines, files documents, and answers questions in a chat at any time of the day or week. The platform categorises and stores any documents users send, so nothing is lost, and then creates and files reports on time. 

"We have supported Osome since the early days and are excited to continue our partnership in the latest round. We are especially happy about the strong growth Osome has shown in the expanding e-commerce segment. Online Sellers require unique tools and custom approaches to be serviced effectively and Osome’s mix of technology and human expertise is the perfect solution", says Mike Lobanov, GP & COO of Target Global.

Media Contact:

Safiah Alias
safiah@osome.com
+65-6589-8807

PR Newswire

Announcement of change in the total number of votes in AB SKF

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GOTHENBURG, Sweden, May 31, 2021 — Due to a conversion of shares from Series A to Series B in accordance with AB SKF’s Articles of Association, the Company confirms the following.

As per 31 May, the Company’s share capital amounts to SEK 1,138,377,670 and the total number of shares amounts to 30,819,375 shares of Series A and 424,531,693 shares of Series B. The number of votes in the Company amounts to 73,272,544.3.

AB SKF does not hold any own shares.

Aktiebolaget SKF (publ)

This is information that AB SKF is obliged to make public pursuant to the Financial Instruments Trading Act. The information was submitted for publication at 8:00 CET on 31 May 2021.

For further information, please contact:

PRESS: Theo Kjellberg, Director, Press Relations
tel: 46 31 337 6576, mobile: 46 725-776576, e-mail: theo.kjellberg@skf.com

INVESTOR RELATIONS: Patrik Stenberg, Head of Investor Relations
Patrik Stenberg, 46 31-337 2104; 46 705-472 104; patrik.stenberg@skf.com

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20210531 Announcement of change in the total number of votes in AB SKF

 

PR Newswire

Drip Capital closes $40M Committed Warehouse Credit Facility from East West Bancorp to facilitate trade finance to small businesses

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PALO ALTO, Calif., March 26, 2021 — Capital, a leading Fintech provider of cross-border trade finance, and East-West Bank (EWB), announce a US$ 40M committed credit facility for the expansion of Drip’s trade finance solutions to small and medium-sized businesses (SMBs).

Drip Capital closes $40M Committed Warehouse Credit Facility from East West Bancorp to facilitate trade finance to small businesses.
Drip Capital closes $40M Committed Warehouse Credit Facility from East West Bancorp to facilitate trade finance to small businesses.

"Drip is growing at a rapid pace and institutional partnerships are a cornerstone of our capital markets strategy. The partnership with East West Bank represents a significant milestone for our Company. It will further accelerate our ability to provide fast and seamless financing to global exporters and importers. We are excited to work with Mark Parsa and the EastWest team as we scale up our operations to service many more customers," said Pushkar Mukewar, Co-Founder and CEO at Drip Capital.

"We are pleased to provide financial support to a global fintech company like Drip Capital to help them achieve their growth plan," said Kristine H. Pfeilsticker, FVP-Relationship Manager of Structured Finance at East West Bank. "We both have extensive experience in cross-border financing and a shared focus on offering innovative solutions to SMBs."

"This new asset-based credit facility provides Drip with considerable incremental financing capacity to help power the next phase of our company’s growth. We are excited to scale our capital markets programs providing unprecedented access to trade finance assets.  Despite the pandemic and resulting dislocation in capital markets, we have been extremely impressed with the execution and solutions-oriented approach by the East West Bank team," said Karl Boog, Head of Capital Markets at Drip Capital.

Drip Capital is a market leader in the global trade finance space. The company offers trade financing solutions in the US and developing markets like India and Mexico by giving their clients access to working capital quickly. Drip works with over 1,500 sellers and buyers spread across 80+ countries. The FinTech firm has financed over US$ 1.2B of international trade since its inception in 2016. 

In the US, Drip provides buyer financing solutions — supply chain finance and inventory finance — to SMB importers, who further cater to the multinationals across the country. The company acts as a strategic financial partner to these SMBs allowing them to effectively manage their cash flows / working capital to accelerate sustainable business growth. 

Drip has raised nearly US$ 200M through venture capital and debt since 2016, including over US$ 45M in equity capital through investors such as Accel Partners, Sequoia Capital, Wing VC, and Y Combinator. 

East West Bancorp is a publicly owned company with total assets over US$ 50B and is traded on the Nasdaq Global Select Market under the symbol "EWBC." The Company’s wholly-owned subsidiary, East West Bank, is one of the largest independent banks headquartered in California and one of the largest minority depository institutions in the United States. The bank provides commercial and consumer banking services that help clients reach further and connect to new opportunities on both sides of the Pacific. East West Bank operates more than 120 locations in key cities in the U.S. and Greater China. The bank’s Structured Finance group provides senior secured lending facilities to specialty finance companies and project finance transactions. For more information about East West Bank, please visit www.eastwestbank.com. 

Media Contact:
Vanita D’souza
Communications Manager at Drip Capital
Mobile Number: +1 650-590-0455
Email: communications@dripcapital.com 
Investor Contact: ir@dripcapital.com 

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PR Newswire

Ericsson Annual Report 2020 published

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– Annual Report 2020 available for download and printed version available for order

– The Annual Report 2020 publication consists of Ericsson’s Financial report 2020, the Corporate Governance Report 2020, the Remuneration Report 2020 and the Sustainability and Corporate Responsibility Report 2020

– Ericsson also publishes Ericsson 2020 in review, including highlights of 2020, which is available for download

STOCKHOLM, March 5, 2021 — The Ericsson (NASDAQ: ERIC) Annual Report 2020 is now available to download from the Ericsson web site: www.ericsson.com/en/investors/financial-reports/annual-reports/ar-and-in-review-2020

Printed copies of the Annual Report 2020 can be ordered by filling in the form on this page: https://www.ericsson.com/en/investors/financial-reports/order-annual-report

Ericsson Annual Report publication 2020 consists of the following four sections:

  • The Financial Report 2020 includes business and strategy descriptions, comments from the President and CEO and the Board Chair, the Board of Directors’ report, the financial statements and consolidated financial statements and notes to the financial statements.
  • The Corporate Governance Report 2020 includes information on how rights and responsibilities are distributed among Ericsson’s corporate bodies. The report also includes information on the decision-making systems and structures through which the owners can utilize their rights in Ericsson.
  • The Remuneration Report 2020 provides information on the implementation of the Guidelines for Remuneration to Group Management, details on total remuneration to the President and CEO and the Executive Vice Presidents and a summary of variable compensation programs to the Executive Team.
  • The Sustainability and Corporate Responsibility Report 2020 includes information on Ericsson’s environmental, social and corporate governance performance, activities and impact. For more details, please download the Sustainability and Corporate Responsibility report 2020 here: https://www.ericsson.com/sustainability-report

In addition to the Annual Report 2020, Ericsson is also publishing Ericsson 2020 in review which includes highlights of 2020, comments from the President and CEO, the strategy, financial targets, information about Ericsson’s segments and market areas as well as other parts of the business and market. For more details, please download Ericsson 2020 in review here: www.ericsson.com/en/investors/financial-reports/annual-reports/ar-and-in-review-2020

For further information, please visit the Investor Relations pages: https://www.ericsson.com/en/investors

NOTES TO EDITORS:

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FOR FURTHER INFORMATION, PLEASE CONTACT:

Ericsson Newsroom 

Contact person
Peter Nyquist, Head of Investor Relations
Phone: +46 705 75 29 06
E-mail: peter.nyquist@ericsson.com

Investors

Lena Häggblom, Director, Investor Relations
Phone: +46 72 593 27 78
E-mail: lena.haggblom@ericsson.com 

Stefan Jelvin, Director, Investor Relations
Phone: +46 709 86 02 27
E-mail: Stefan.jelvin@ericson.com

Media

Peter Olofsson, Head of Corporate Communications
Phone: +46 702 67 34 45
E-mail: peter.olofsson@ericsson.com

Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com

About Ericsson

Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

This information is information that Telefonaktiebolaget LM Ericsson is obliged to make public pursuant to the Swedish Securities Markets Act. The information was submitted for publication at 08:30 CET on March 5, 2021.

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PR Newswire

IFS growth outperforms market in 2020 with 26% increase in software revenue

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– 60% increase in Cloud revenue and 43% increase in recurring revenue YoY, despite macroeconomic backdrop

– Recurring revenue share now 80% of software revenue

– Service management license revenues increase by 105% YoY

LONDON, Jan. 28, 2021 — IFS, the global enterprise applications company, today announced its financial results for the full year ended December 31, 2020.

2020 saw widespread market disruption due to the Covid-19 pandemic. This has heightened the need for companies to build resilience into their business and adopt digital business models. 

With this backdrop IFS has stood firm in its commitment to deliver measurable benefits to its customers and has doubled down on ensuring a faster time to value. This has been instrumental in delivering sustained growth in revenue and led to a 105-percent increase in Service Management revenue.

Some of the key milestones for IFS in 2020 included:           

  • The acquisition of Clevest that has increased the depth of IFS’s service management proposition           
  • The launch of IFS Remote Assistance, that won Business Innovation of the Year at the Technology Excellence Awards           
  • Growth in IFS’s ecosystem, now with over 8,000 customers and partners having participated in paid-for and free training           
  • The IFS Community growing to over 5,000 active contributors           
  • The launch of the IFS Voice of the Customer program that has helped IFS achieve the highest customer satisfaction scores compared to industry peers (according to Gartner Peer Insights).

Throughout the year, IFS has continued to nurture its customer-first culture, strengthen its partner ecosystem and from a sustainability perspective, support the IFS Foundation, which is building a Technology Lab for Welasiya College in Puttalam District of Sri Lanka, a nation that is home to over 1,500 IFS employees.

IFS CEO Darren Roos commented: "I think that every CEO will have been affected one way or another by 2020. Like many, we had to adapt as individuals and as a business, but the passion this team has for customers continued to shine. I am hugely proud of that."

Roos continued, "I am also really proud to see that a sinificant part of our license revenue has come from new logos, customers who have moved away from their legacy vendor; this combined with our performance in recurring revenue points the performance of a very strong business. 2021 will be a hugely important year for IFS as we launch IFS Cloud on March 10th." 

IFS Chief Financial Officer, Constance Minc, added, "This is the third consecutive year that IFS has delivered double digit growth, and over this period we have grown recurring revenue by 250%. This consistency, together with the improved revenue mix, reveals a strong business that continues to deliver with all the right ingredients to capitalize on our investment cycle. We have real strength in our service proposition, demonstarted by license revenue growing at 105 percent in 2020, as well as an industry focus in sectors like aerospace and defense that will ensure that we continue to deliver value to our customers." 

Financial and Operational Highlights for FY 2020, growth YoY:           

  • FY2020 software revenue was MSEK 5,092, an increase of 26 percent versus 2019           
  • FY2020 recurring revenue was MSEK 4,081, an increase of 43 percent versus 2019           
  • FY2020 cloud revenue increased 60 percent versus 2019           
  • FY2020 net revenue was MSEK 7,211, an increase of 14 percent versus 2019           
  • In addition, service business license revenue grew 105 percent versus 2019 while aerospace and defense license revenue grew 37 percent.

Additional highlights:            

*Note: all figures based in Swedish Krona and reported in constant currency.

Learn more at www.ifs.com/corp/company/financial-results/.

CONTACT:

Natalie Sutton
IFS Head of External Communications
Phone: +44 (0)1784 278222
press@ifs.com

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PR Newswire

LTI USD Revenues grow 5.8% QoQ and 8.5% YoY; Net Profit up by 37.9% YoY

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Earnings Release and Fact Sheet Third Quarter, Fiscal 2021

MUMBAI, India, Jan. 20, 2021 — Larsen & Toubro Infotech (BSE code: 540005) (NSE: LTI), a global technology consulting and digital solutions company, announced its Q3 FY21 results today.

In US Dollars:

  • Revenue at USD 427.8 million; increase of 5.8% QoQ and 8.5% YoY
  • Constant Currency Revenue increase of 5.3% QoQ and 7.4% YoY

In Indian Rupees:

  • Revenue at INR 31,528 million; increase of 5.1% QoQ and growth of 12.2% YoY
  • Net Income at INR 5,193 million; increase of 13.7% QoQ and growth of 37.9% YoY

"We are pleased to deliver a strong quarter with 5.8% QoQ growth in USD revenues. This has been driven by healthy growth momentum across our portfolio. We continue to see strong demand for cloud-based IT solutions. Our tier 1 level partnership with the hyperscalers enables us to work closely on client outcomes and go-to-market opportunities.

"We are happy to announce two large deals with cumulative net new TCV of USD 278 million. We remain focused on building and scaling differentiated capabilities. A healthy deal pipeline and sustained client mining make us optimistic about the future."

– Sanjay Jalona, Chief Executive Officer and Managing Director, LTI

Recent Deal Wins

  • A UAE-based leader in digital transformation has selected LTI as its partner of choice to provide infrastructure and application operations support and maintenance for its existing and new customers. As part of the deal, LTI will also partner with end customers on their journey to cloud and transform operations to bring in best-shoring and automation.
  • A Global Fortune 500 energy company has chosen LTI as its primary partner for an application managed services agreement to create and consolidate a business-aligned IT services delivery platform across the organization and reduce total cost of ownership.
  • A company located in the U.S providing leading data-driven marketing, loyalty and payment solutions has selected LTI for customer-centric digital transformation initiatives to enhance customer experience, brand reputation, customer acquisition and retention and reduction in costs by virtue of streamlined operations.
  • An engineering, construction and mining company located in South East Asia has partnered with LTI to transform its procurement, sales, bidding, contracting and analytics functions using SAP to enable operational excellence, ensure data-driven insights and informed decision making across the organization.
  • LTI executed a license sale agreement for AI, Decisions and Catalog products on its Mosaic platform with a multinational banking and financial services company to bring about efficiency in their reporting with the regulators. Mosaic will serve as a unified data analytics platform enabling consolidation of all credit risk models and will be hosted in a hybrid cloud setup. As a part of the deal, LTI will be a one-stop shop providing the product as well as handling, deploying, integrating and testing services.
  • A leading European financial services firm has chosen LTI to manage its infrastructure operations through a leaner operating model and by leveraging the Mosaic platform to drive automation.
  • A leading commercial property and casualty insurance group based in Canada has selected LTI to consolidate and transform its policy administration systems and processes onto the Duck Creek platform to ensure streamlining of its operations.
  • A U.S. based real estate investment company has chosen LTI for providing application support, maintenance and development services along with key implementation initiatives to drive cost optimization and digital transformation.

Awards and Recognitions

  • LTI Recognized as a Leader in the ISG Provider Lens™ Digital Business – Solutions and Service Partners Report, US 2020
  • LTI Recognized as Leader and Star Performer in Everest Group’s Application and Digital Services in Capital Markets PEAK Matrix® Assessment 2021
  • LTI positioned in "Leaders" Quadrant within NelsonHall’s Software Testing: Quality Engineering NEAT 2020
  • LTI Recognized as a Leader in the ISG Provider Lens™ Public Cloud — Solutions and Services Report, Nordics 2020
  • LTI recognized as a Leader in Everest Group Insurance Business Model Innovation Enablement Services PEAK Matrix® Assessment 2021

Other Business Highlights

  • LTI won in the Outstanding Value Category at the Honda Indirect Procurement Supplier 2020 Awards, US. The outstanding value category acknowledges suppliers providing the most value to Honda by recognizing the total cost of ownership
  • LTI is now an "Elite" level partner of Snowflake, the data cloud company. LTI has also become the maiden partner for Snowcase – a program that Snowflake is launching to develop and market industry-specific solutions to accelerate cloud data transformation journey of enterprises
  • LTI is now a "Premier" level partner of Google Cloud
  • LTI is now a "Platinum" tier partner of IBM
  • LTI has partnered with Temenos to launch a Digital Banking Platform in the Nordic region
  • LTI was ranked among the top 50 companies (Rating "A") in the BW BusinessWorld India rankings for Most Sustainable Companies 2020

About LTI

LTI (NSE: LTI) is a global technology consulting and digital solutions company helping more than 400 clients succeed in a converging world. With operations in 31 countries, we go the extra mile for our clients and accelerate their digital transformation with LTI’s Mosaic platform enabling their mobile, social, analytics, IoT and cloud journeys. Founded in 1997 as a subsidiary of Larsen & Toubro Limited, our unique heritage gives us unrivalled real-world expertise to solve the most complex challenges of enterprises across all industries. Each day, our team of more than 30,000 LTItes enable our clients to improve the effectiveness of their business and technology operations and deliver value to their customers, employees and shareholders. Find more at http://www.lntinfotech.com or follow us at @LTI_Global.

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Related Links :

https://www.lntinfotech.com

PR Newswire

China Literature Announces Sale of its Equity Interest in Lazy Audio for RMB1.08 Billion

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HONG KONG, Jan. 15, 2021 — China Literature Limited ("China Literature" or "the Company", stock code: 0772.HK), a leading online literature platform in China, today announced that it entered into a definitive agreement to sell a 39.8821% equity interest in Shenzhen Lanren Online Technology Co, Ltd ("Lazy Audio"), an audio platform in China, to Tencent Music Entertainment Group ("Tencent Music" or "TME", NYSE: TME), a leading innovative online music entertainment platform in China, for a total consideration of RMB1.08 billion in cash. The transaction is expected to close in the first half of 2021, subject to customary closing conditions. China Literature will no longer hold an equity interest in Lazy Audio upon the completion of the transaction.

Mr. Edward Cheng, Chief Executive Officer of China Literature, commented, "Our investment in Lazy Audio was a test pilot for China Literature’s audiobook strategy where we collaborated with Lazy Audio to convert China Literature’s premium IPs into audiobooks and deliver to a vast user base. In terms of corporate strategic outcome and generating a return on investment, the overall investment was, without a doubt, a huge success. The TME-Lazy Audio transaction will continue to elevate TME’s and Lazy Audio’s audio content production and distribution capability. This will in turn benefit China Literature, as our business partnership with both TME and Lazy Audio will continue. As we join forces on future collaboration with TME and other audio platforms, we expect to continuously distribute China Literature’s premium content to our expanding user base. We believe this marks an important step to further maximize the value of China Literature’s IPs."

About China Literature Limited

China Literature Limited is a pioneer in the online literature market and operates China’s leading online literature platform. The Company owns nine major branded products. Among these, QQ Reading, a unified mobile content aggregation and distribution platform, is the flagship product. Other branded products focus on individual genres and their respective fan bases. China Literature’s shareholder and strategic partner, Tencent, provides the Company with exclusive content distribution access via its suite of leading mobile and Internet products, including Mobile QQ, QQ Browser, Tencent News, Weixin Reading and Tencent Video. The Company also has distribution beyond the Tencent platforms by pre-installing Apps on handsets partners such as OPPO, Huawei and VIVO, as well as licensing content to third-party partners such as Baidu, Sogou, JD.com and Xiaomi Duokan. China Literature monetizes its vast and proprietary content library mainly through online paid reading and content adaptations for a variety of entertainment formats. China Literature’s diverse and high-quality content library is a significant competitive advantage that lies at the core of its business model. In 2018, China Literature further expanded its content capabilities downstream by acquiring New Classics Media, a renowned TV series, web series and film production company in China. For more information, please visit http://ir.yuewen.com/.  

Contact

For investors / analysts:

For media:

Maggie Zhou

Vivian Wang

Tel: +8621 6187 0500 ext. 80605

Tel: +852 2232 3978

Email: IR@yuewen.com

Email: vwang@Christensenir.com

Forward-Looking Statements

This press release contains forward-looking statements relating to the industry and business outlook, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in future. Underlying the forward-looking statements is a large number of risks and uncertainties. Further information regarding these risks and uncertainties is included in our other public disclosure documents on our corporate website.

Related Links :

http://ir.yuewen.com/

PR Newswire

Osome wins Singapore Partner of the Year at Xero Asia Awards

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SINGAPORE, Dec. 11, 2020  — Osome has been awarded Xero’s Singapore Partner of the Year for Xero Awards Asia 2020. The annual Xero Awards for Asia recognises excellence among their accounting and bookkeeping partners and celebrates the role of its partners in helping small businesses across Asia thrive.

"It was incredibly tough to judge the many entries in this year’s Xero Awards: Asia – so many of our accounting, bookkeeping and app partners are doing amazing things to help small businesses thrive," as stated on the Xero Awards: Asia website.

Finalists were assessed on innovation, marketing strategy, knowledge of Xero’s products and tools, amongst other criteria for the Singapore Partner of the Year award. 

Osome, which has been a Platinum Partner of Xero since March 2020, is a technology company that disrupts traditional business administration. It provides online accounting services for SMEs especially those involved with selling their products via e-commerce platforms like Amazon, Lazada and Shopee. In addition to that, Osome also provides a comprehensive range of back-end services like incorporation, payroll and corporate secretarial service. These are tedious but unavoidable tasks which entrepreneurs usually outsource. With over 5000 clients across Singapore, Hong Kong and the United Kingdom, the company has recently raised USD$3 million in funding from XA Network and AltaIR Capital.

"This is amazing news to receive at the end of 2020. It strengthens our commitment to free up entrepreneurs’ mind and time by turning painful paperwork tasks into an Osome experience, while they grow their business. As we enter 2021, we will be improving the technology behind our service to focus on customer experience," said Victor Lysenko, CEO and Founder of Osome. 

About Osome

Osome, which is based in Singapore, was launched in January 2018 to facilitate business management for small and medium-sized enterprises (SMEs). Its suite of services includes online business registration, accounting, taxation, corporate secretary services, and payroll management. Its platform uses automation tools and AI (artificial intelligence) to increase response time and accuracy, and to lower cost. It has market presence in Singapore, United Kingdom, Hong Kong. In 2020, it raised US$3 million in funding led by Target Global, including Phystech Ventures, AD.RU funds, and several angel investors.

Find out more about Osome at http://osome.com. 

Media Contact

Osome
Safiah Alias
safiah@osome.com

PR Newswire

Entain Marks Its First Day With Measures To Deliver On Its New Strategy

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– U.S. growth accelerates as BetMGM plans to double its footprint in three months

– Entain to seek licence in Canada and becomes the first global sports betting and gaming operator to gain a licence in Latin America

LONDON, Dec. 10, 2020 — The global sports betting and gaming group previously known as GVC Holdings plc, marked the first day of trading under its new name with a range of measures to deliver on the vision and direction recently outlined by its CEO Shay Segev. The new measures extend across all the countries in which it operates with brands including bwin, PartyPoker, Ladbrokes, Coral, FoxyBingo and BetMGM.

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Last month Entain announced a new strategy to deliver significant growth, driven by expansion in the U.S., growth across its core business, entry into new markets, and to new audiences. Entain, which has a very strong track record of 19 consecutive quarters of double-digit growth in its online business, also committed to lead responsible gaming with a new Sustainability Charter. Under this charter, the business pledged to focus only on regulated markets and use its proprietary technology to raise levels of player protection. 

As part of these plans to deliver growth and sustainability, Entain today confirmed strong momentum and market share gains in the U.S. for BetMGM, its joint venture with MGM Resorts. Between October and January BetMGM is adding five new states, doubling its population reach in three months to around 75 million across 12 states. Entain also disclosed that BetMGM’s most recent state launch in Tennessee has been its most successful go-live yet with revenues already ahead of those in more established states. Powered by Entain technology, BetMGM expects to be in over 20 states by the end of 2021.  

"We are firmly on track to take further leadership in the U.S. as well as in many other newly regulated markets that are now opening around the world." said Segev. "At the heart of our growth strategy is a determination to bring the best player experiences and protections to our industry as technology moves sport and interactive entertainment into a new era. In the U.S., we invested in building the right building blocks for the BetMGM platform to grow and become a long-term leader in the U.S., with superior technology and capabilities, and this is now paying off."

Entain also fleshed out its new Sustainability Charter, allocating money to new projects which will be delivered through its international Foundation around the world. It also gave further detail on its new Advanced Responsibility and Care (ARC) initiative, seeking to revolutionise player experiences and protection through world-leading research, data science and technology. Other new measures include:

Focus on new regulated markets: In line with its stated intention to focus on fully regulated markets, Entain today announced it has become the first global sports betting and gaming operator to gain a licence in Latin America and expects to go live in Colombia over the next month. Colombia is one of the first countries to issue licences in Latin America with others, such as Brazil preparing to follow. Elsewhere in the Americas, Canada is also moving ahead with regulation and Entain confirmed it will be applying for licencing in Canada.

  • Investing in people and communities: Entain has pledged to invest £100 million over five years in the Entain Foundation to fund responsible gaming initiatives and to support people and communities around the world where it operates. Today, it announced a series of international commitments: 

    UK: Entain and the three Trident Leagues (The Isthmian, Northern Premier and Southern Leagues) are to launch the Trident Community Foundation to help fund community-based projects. Grants will be open for the 228 football clubs that participate in the leagues.
    "Pitching In", Entain’s recently launched grassroots sport investment programme, is the founding partner of the Trident Community Foundation (TCF) and has donated £150,000 to establish the TCF fund, for distribution over the rest of the 2020/21 season.

    US: The Entain Foundation is rolling out an extensive state-by-state program with EPIC, a charitable organisation which works with former athletes and people who have overcome gambling addiction to help educate people on how to play safely.

    The U.S. project announced today with EPIC extends the program to a total of 15 Pro Sports teams and over 20 colleges across the country, including Harvard University, University of Oregon, and the Mid-American Conference. Entain and EPIC plan to work together to add additional professional sports leagues and colleges across the US during 2021. 

    Germany: The Entain Foundation will continue existing sports integrity projects in Germany and receive early funds to initiate further activities around responsible gaming.

    Australia:  The Foundation has announced initial new projects to advance responsible gaming with Relationships Australia, a community-based not for profit organisation which provides a range of counselling and support services to problem gamblers and their families. The new funding will be used to support a social media campaign to reach vulnerable audiences and to raise awareness of the signs of gambling addiction.

  • Advanced Responsibility and Care (ARC): Under this recently announced programme, Entain will combine its technology with research and insight from leading psychologists and Harvard to develop innovative experiences and safeguards for a new era in interactive sport and entertainment. To this end, Entain today announced that:

    Dr. Michael Auer,     a leading academic and member of the scientific community at the University of Hohenheim in Germany, specialising in behavioural psychology and addiction, will join Entain alongside Professor Mark Griffiths, Distinguished Professor of Behavioral Addiction and Psychology at Nottingham Trent University. They will evaluate and advise on improvements to Entain’s guidelines and processes in relation to responsible gaming.

For more information see the Group’s website: www.entaingroup.com

Video – https://mma.prnasia.com/media2/1372389/Entain.mp4?p=medium600

PR Newswire

Correction of date for Ericsson’s fourth quarter report 2020

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STOCKHOLM, Nov. 20, 2020 — Ericsson’s (NASDAQ: ERIC) financial report for the fourth quarter 2020, will be issued on January 29, 2021. By mistake an incorrect date is stated in the financial report for the third quarter of 2020, published on October 21. The error occurs on page 12, last sentence, "Date for next report: January 26, 2021".

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Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

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Correction of date for Ericsson’s fourth quarter report 2020