Tag Archives: ITE

PR Newswire

500.com Limited to Report Second Quarter 2020 Financial Results on August 28, 2020

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SHENZHEN, China, Aug. 20, 2020 — 500.com Limited (NYSE: WBAI) ("500.com" or the "Company"), an online sports lottery service provider in China, today announced that it plans to release its financial results for the second quarter ended June 30, 2020 after the close of U.S. markets on Friday, August 28, 2020.

About 500.com Limited

500.com Limited (NYSE: WBAI) is an online sports lottery service provider in China. The Company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users. 500.com was among the first companies to provide online lottery services in China, and is one of two entities that have been approved by the Ministry of Finance to provide online lottery sales services on behalf of the China Sports Lottery Administration Center, which is the government authority that is in charge of the issuance and sale of sports lottery products in China.

Safe Harbor Statements

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target," "going forward," "outlook" and similar statements. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For more information, please contact:

500.com Limited
ir@500wan.com

Christensen

In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@ChristensenIR.com

Related Links :

http://ir.500.com/

PR Newswire

SP Madrid enables 100+ Contact Center Agents to Work Remotely using Ameyo

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Ensures business continuity during COVID-19 in less than 2 days with a dramatic increase in call connect rates

MANILA, Philippines, Aug. 19, 2020 — Ameyo, an omnichannel customer engagement platform, today announced that it has enabled SP Madrid, a BPO Collections Leader in Philippines, move its 100+ agents to Remote Contact Center Solutions in less than 2 days, overcoming the challenge of low internet connectivity and bandwidth issues.

SP Madrid was looking for a solution that could help them with a customer engagement process with remote access to ensure business continuity.

With a secure VPN connection, Ameyo helped SP Madrid move its contact center agents to a remote working environment without any hassle. Ameyo’s all-in-one Remote Contact Center Solution backed up with automated dialer, built-in CRM, and comprehensive remote monitoring dashboards ensured that there is no fragmented data. Ameyo’s solution assists SP Madrid’s call center agents with a unified customer interface which allows easy access to all customer information in one place, thus, no information is missed.

Additionally, customer service supervisors, operation heads, and managers at SP Madrid got better hold on business operations and were able to measure and track agents’ performance with quantifiable metrics.

Speaking of the transition to Remote Solutions, Ian Madrid, Co-founder at SP Madrid, says, "Ameyo assisted us to enhance our customer experience with advanced remote contact center capabilities. Throughout the years, Ameyo has helped us enrich our collections process and we have gotten more than what we have paid for."

Sachin Bhatia, Co-founder and Global Sales & Marketing Head at Ameyo, says, "Contact centers are playing a pivotal role in post-COVID-19 times, as they provide the last line of human to human interaction between brands and consumers. Remote contact centers will enable collections brands like SP Madrid to work remotely and increase business productivity."

Ameyo’s Remote-first Contact Center Solution ensures remote IT governance, enables enterprises to run contact center operations with trust and ensures a smooth onboarding and collaboration. 

About SP Madrid

SP Madrid is a reckoned collections company based in the Philippines. Founded in 2008, the company is backed-up with most advanced collection technology and comprehensive DPA data privacy compliance. 

About Ameyo

Ameyo is an Omnichannel customer engagement platform that helps businesses go remote with its virtual contact center solutions and help them streamline their customer service, and collection processes. Know more at www.ameyo.com

Media Contact:
Pushkaraj Phule
pushkarajphule@ameyo.com  
+91-9870039596

Logo – https://techent.tv/wp-content/uploads/2020/08/sp-madrid-enables-100-contact-center-agents-to-work-remotely-using-ameyo.jpg

 

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PR Newswire

CareMonkey becomes ‘Operoo’, launches digital school operations platform

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Education technology provider repositions to meet surging demand to streamline and automate operational school tasks and processes in K – 12 sector

NEW YORK, Aug. 14, 2020 — CareMonkey – the world’s fastest growing cloud-based solution for online school forms, medical data and trip management – has relaunched as ‘Operoo’. The relaunch will see the company trade as Operoo, with its software – rebranded under the same name, emphasizing its power as a School Operations and Productivity Platform.

The brand’s new logo and website were unveiled at www.operoo.com, along with a simple mission statement: To help schools eliminate operational inefficiencies, so that every dollar and every minute possible is focused on student education.

Operoo CEO and CoFounder, Troy Westley, said the new name reflected how the company had evolved to meet growing demand throughout the global K – 12 education sector for solutions that could streamline a broad range of day-to-day school operations.

"The ‘Oper’ part of Operoo is short for ‘operations’, while the ‘roo’ is a reminder of our Australian origins – even though we’re now truly an international company with offices in the USA, UK and Australia," said Westley. "When we began CareMonkey in 2013, the product was all about care – hence the name. The focus was on collecting child medical and emergency information from parents, then making that data securely available to schools and supervisors at other organizations with a duty-of-care.

"Since then, our product has grown and matured. We’ve listened to what our customers want and how they use the product. The feedback was clear: The daily operational and administrative demand placed on schools and their staff is growing fast. As a result, schools are looking for solutions to reduce the resources required to complete those recurring tasks so that they can focus on what really matters; educating young people. Operoo empowers schools to achieve that goal."

The renewed focus has seen the company grow rapidly, expanding its US and UK client bases by more than 1100% and 260% respectively since early 2019.

Operoo President, Peter Bencivenga, said: "For a long time, there’s been a huge gap in the education technology market, which sat between school administration systems and single use case products; like parent communication or payment apps.

"While we had already been working to address this need leading up to the launch of Operoo, that gap became glaringly obvious when COVID-19 started impacting the global education sector. Not only did the number of operational tasks schools had to manage soar, they simply had to be managed digitally in order to adhere to social distancing requirements and government health guidelines. Paper-based and human-reliant ways of working just weren’t an option. Operoo’s School Operations and Productivity Platform bridges that gap."

Operoo enables schools to automate, manage and track operational tasks in one cloud-based platform. Operoo offers digital workflows for a range of routine school processes – which are often manual, disconnected and paper-based – including distributing and collecting school forms, mobile communications, parental consent, payments, medical and emergency information, staff approvals, incident reporting, activity and group management, paperless school trips and more.

Operoo client and Principal at New York City’s Staten Island Technical High School, Mark Erlenwein, commented: "We started working with CareMonkey, now Operoo, because we were spending too much time and money manually managing routine paper processes. We’ve now digitized and automated over 30 different workflows – from emergency contact cards and consent forms, to reimbursement and leave requests – reducing the manpower required to perform them by 75 percent."

The latest iteration of the OECD’s global Teaching and Learning International Survey found that educators in the developed world are working longer hours than ever before. An increasing amount of time spent on non-teaching tasks was cited as a key contributor to that trend, with ‘skyrocketing administrative requirements’ a primary culprit. In fact, 91 percent of the 18,000 educators who contributed to the University of Sydney’s 2018 study, Understanding Work in Schools, reported experiencing a level of administrative demand so high it was a ‘hindrance’ to their job.

Founded in 2013 from Melbourne, Australia, CareMonkey won numerous awards, including two global start-up competitions in 2015: Talent Unleashed, presented by Sir Richard Branson, and Slush, where the company won a €650,000 investment. Company CoFounders, Troy Westley (CEO) and Martin Howell (CTO), declined the offer in favor of growing the business organically.

In 2019, a consortium led by Peter Bencivenga, New Ground Ventures and ReThink Education, approached and invested in CareMonkey, with Bencivenga becoming CareMonkey’s President.

Today, Operoo has offices in the US, UK and Australia serving thousands of customers from every major continent around the world. The company’s School Productivity and Operations Platform will be generally available under the Operoo name from Friday 14th August 2020.

– END –

About Operoo

Operoo is a School Operations and Productivity Platform. Operoo is helping thousands of schools and other organizations around the world to eliminate slow, expensive and repetitive paper-based tasks. Operoo empowers schools to save time and resources by automating operational tasks and workflows, increasing staff productivity, parental engagement and student participation.

Streamline and digitize any school process, drastically reducing the associated costs: From permission forms, payments, and school trips; to medical information and emergency contacts, incident reporting, staff agreements, student onboarding and more. And, effectively communicate with staff, parents and your whole school community in over 100 languages with Operoo’s multi-language capability.

With Operoo, ensure every dollar and every minute possible is focused on students, rather than wasting resources on operational inefficiencies. For more information, visit www.operoo.com

For further media information, interviews, images or product demonstration, please contact:

Operoo CMO, Lachlan James, on +61 (0)431 835 658 or ljames@operoo.com

Related Links :

http://www.operoo.com

PR Newswire

AGC Networks completes the Acquisition of Pyrios

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DALLAS, PITTSBURGH, MUMBAI, India and AUCKLAND, New Zealand, Aug. 14, 2020 — AGC Networks Limited, (BSE: 500463) (NSE: AGCNET), a Global Solutions Integrator and an Essar enterprise, today announced that it has completed the acquisition of Pyrios Pty Limited (Australia) and Pyrios Limited (New Zealand) through its indirect subsidiary – Black Box Networks Services Australia Pty Ltd and Black Box Networks Services New Zealand Ltd respectively. Pyrios is an expert in communication technology delivering customer engagement and workplace collaboration solutions.

The acquisition of Pyrios will substantially increase and strengthen AGC | Black Box presence and offerings in the Australia and New Zealand market. This will also enhance the current solution portfolio of AGC and Black Box in the UC and Contact center space and Cloud services. 

"We are excited to welcome Pyrios to the AGC family," said Sanjeev Verma, Executive Director and CEO of AGC Networks and President and CEO of Black Box Corporation. "This acquisition is a logical extension to AGC’s leadership in the Unified Communication & Enterprise Communication space.  Our pursuit is to remain the customer’s trusted partner in providing technology solutions and services and this combination of Pyrios and AGC | Black Box will strengthen our relationship and relevance with our combined customers in the region", Verma continued.

Mark Charlesworth, Managing Director Pyrios, said "This acquisition will see the bringing together of two complementary businesses that will provide a broader range of solutions and expertise to the Australian and New Zealand markets, and grow a rapidly expanding Customer Experience Cloud services business with the backing of a global organization."

Speaking on the occasion, Robyn O’Reilly, CEO – Pyrios said "We – the team and I are excited and look forward to integrating with AGC | Black Box and being a part of a Global leading organization offering an enhanced portfolio of solutions to our customers in the region". 

Rohit Himatsingka, Senior Vice President & Head Corporate Development & Strategy, AGC Networks said "AGC’s two-pronged approach of focusing on bringing the best-of-breed technology solutions to the customers and augmenting the Glocal organization through local expertise continues to be at the center of our strategic initiatives to deliver value to all stakeholders." 

The current employees of Pyrios will continue to diligently serve the customers with business as usual approach and this acquisition will add additional international expertize and offering portfolio with the parentage of AGC | Black Box within the fold. 

About AGC Networks:

AGC Networks (AGC) is a Global Solution Integrator representing the world’s best brands in Unified Communications, Data Center & Edge IT, Cyber Security (CYBER-i), Digital Transformation & Applications including SimpleEdge and Technology Product Solutions (TPS). 

AGC Networks is an Essar Enterprise. www.agcnetworks.com 

About Black Box:

Black Box is a leading digital solutions provider dedicated to helping customers design, build, manage and secure their IT infrastructure.

http://www.blackbox.com 

About Pyrios:

Pyrios is an expert in communications technology for contact centre and unified communications. We work with customer-driven organisations that want to delight and retain customers, and improve service, productivity and ROI. Built on 20-years of customer success, the Pyrios team stand behind some of Australasia’s smartest communications technology deployments.

www.pyrios.com 

Forward-Looking Statement 

 

Media Contacts: Neelam Kapoor, E-mail: neelam.kapoor@agcnetworks.com, Tel: +91 98197 30611. Mike Carney, Email: legal.us@agcnetworks.com, Tel: +1 214 258 1612    

Logo: https://techent.tv/wp-content/uploads/2020/08/agc-networks-completes-the-acquisition-of-pyrios.jpg  

 

PR Newswire

Scienjoy Holding Corporation Signs Agreement to Acquire BeeLive and Expand Its Global Footprint

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BEIJING, Aug. 13, 2020 — Scienjoy Holding Corporation ("Scienjoy", the "Company", or "We") (NASDAQ: SJ), a leading live entertainment mobile streaming platform in China today announced that it has entered into an Equity Acquisition Framework Agreement (the "Agreement") on August 10, 2020, to acquire 100% of the equity interest in Beelive from its two controlling companies at a total consideration of RMB300 million, including a cash consideration of RMB50 million and share consideration of RMB250 million in ordinary shares to be issued by Scienjoy. The share consideration payments are subject to certain performance conditions and requirements over the following three years.  

BeeLive is a global live streaming platform that initially launched in China in November 2016. After establishing a strong foothold in China’s live streaming industry, BeeLive began expanding into international markets during the second half of 2019. To date, BeeLive has launched its Arabic language live streaming product in the Middle East and its Thai language live streaming product in Southeast Asia.

Although BeeLive’s global expansion is still at an early stage, the platform’s activity in overseas markets has demonstrated potential for future growth. As of June 2020, the number of total registered users on BeeLive exceeded 20 million and the number of active live streaming hosts on BeeLive reached 62 thousand. Additionally, during the first half of 2020, BeeLive’s ARPU reached RMB2,200, which was higher than the industry average.

"We are pleased to announce our acquisition of BeeLive and remain confident that this arrangement will serve to provide increasing shareholder value over the long term," commented Mr. Victor He, Chairman and Chief Executive Officer of Scienjoy. "As BeeLive has come to establish itself as a leader in the provision of engaging talent show live streaming content and continued to make exceptional progress in its overseas expansion initiatives, we have gained a tremendous amount of respect for both the business and its platform capabilities. Based on the similarities between our business models, we believe that this deal has the potential to generate powerful synergies and thus significantly bolster our competitive advantages in the industry going forward. After thorough analysis, we maintain our belief that this acquisition is a true win-win arrangement for both parties and will help to provide our users with an increasingly vibrant and interactive social environment going forward."

About Scienjoy Holding Corporation

Founded in 2011, Scienjoy is a leading show live streaming video entertainment social platform in China. With more than 200 million registered users, Scienjoy currently operates three primary online live streaming brands with their respective websites and mobile apps: Showself, Lehai, and Haixiu, each using Scienjoy’s own mobile applications. Through this collection of online live streaming brands, Scienjoy has created a vibrant, interactive, and close community. Scienjoy operates a mobile live streaming business through which it provides live streaming entertainment from professional "broadcasters" to end-users, allowing for the operation of live social video communities. Using Scienjoy’s mobile applications, users can select broadcasters and enter real time video rooms to interact with them. In addition to real-time interactions, users can also view photos posted by broadcasters on their personal pages, leave comments, and engage in private chats with broadcasters when they are not streaming. In addition, users can also play fun and simple games by using virtual currencies within the video rooms while watching the live streaming of a broadcaster.

Safe Harbor Statement

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements include, without limitation, Company’s expectations with respect to future performance and anticipated financial impacts of the acquisition, the satisfaction of the closing conditions to the acquisition and the timing of the completion of the acquisition. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside the control of the Company and are difficult to predict. Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the Agreement relating to the acquisition; (2) the inability to complete the acquisition, including due to failure to satisfy conditions to closing in the Agreement; (3) delays in obtaining or the inability to obtain necessary regulatory approvals required to complete the transactions contemplated by the Agreement; (4) the risk that the acquisition disrupts current plans and operations as a result of the announcement and consummation of the acquisition; (5) the ability to recognize the anticipated benefits of the acquisition; (6) costs related to the acquisition; (7) changes in applicable laws or regulations; and (8) the possibility that Beelive or the Company may be adversely affected by other economic, business, and/or competitive factors.  These forward -looking statements are subject to the filings with the Securities and Exchange Commission ("SEC") made by the Company.  Company cautions that the foregoing list of factors is not exclusive and cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made.  Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based, subject to applicable law. The information contained in any website referenced herein is not, and shall not be deemed to be, part of or incorporated into this press release.

Contacts

Ray Chen
VP, Investor relations
Scienjoy Inc.
+86-010-64428188
ray.chen@scienjoy.com

Jack Wang
ICR Inc.
+1 (212) 537-9254
scienjoy.ir@icrinc.com

PR Newswire

SINA Special Committee Retains Financial Advisor and Legal Counsel

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BEIJING, Aug. 7, 2020 — SINA Corporation (the "Company" or "SINA") (NASDAQ: SINA), a leading online media company serving China and the global Chinese communities, today announced that the independent special committee (the "Special Committee") of the Company’s Board of Directors (the "Board") has retained Morgan Stanley Asia Limited as its financial advisor, and Gibson, Dunn & Crutcher LLP as its U.S. legal counsel to assist the Special Committee in its evaluation and consideration of the previously announced preliminary non-binding proposal from New Wave MMXV Limited ("New Wave") that the Board received on July 6, 2020, proposing to acquire all the outstanding ordinary shares of the Company not already owned by New Wave for US$41 per share in cash in a going private transaction (the "Proposed Transaction"). New Wave is a company incorporated in the British Virgin Islands and controlled by Mr. Charles Chao, Chairman and Chief Executive Officer of the Company.

The Board cautions the Company’s shareholders and others considering trading in its securities that no decisions have been made by the Special Committee with respect to the Company’s response to the Proposed Transaction. There can be no assurance that any definitive offer will be made, that any agreement will be entered into or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to the Proposed Transaction, except as required under applicable law.

About SINA

SINA is a leading online media company serving China and the global Chinese communities. Its digital media network of SINA.com (portal), SINA mobile (mobile portal and mobile apps) and Weibo (social media) enables internet users to access professional media and user generated content in multi-media formats from personal computers and mobile devices and share their interests with friends and acquaintances.

SINA.com offers distinct and targeted professional content on each of its region-specific websites and a full range of complementary offerings. SINA mobile provides news information, professional and entertainment content customized for mobile users through mobile applications and mobile portal site SINA.cn.

Weibo is a leading social media platform for people to create, distribute and discover content. Based on an open platform architecture, Weibo provides unprecedented and simple way for people and organizations to publicly express themselves in real time, interact with others on a massive global platform and stay connected with the world.

Through these properties and other product lines, SINA offers an array of online media and social media services to its users to create a rich canvas for businesses and advertisers to effectively connect and engage with their targeted audiences.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. SINA may also make forward-looking statements in the Company’s periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "confidence," "estimates" and similar statements. SINA assumes no obligation to update the forward-looking statements in this press release and elsewhere. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statements. Potential risks and uncertainties include, but are not limited to failure to meet internal or external expectations of future performance given the rapidly evolving markets; condition of the global financial and credit market; the uncertain regulatory landscape in China; fluctuations in the Company’s quarterly operating results; the Company’s reliance on online advertising sales and value-added services for a majority of its revenues; failure to successfully develop, introduce, drive adoption of or monetize new features and products, including portal, Weibo and Fintech products; failure to enter and develop the small and medium enterprise market by the Company or through cooperation with other parties, such as Alibaba; failure to successfully integrate acquired businesses; risks associated with the Company’s investments, including adverse impacts on our financial results from equity pick-up, fair value changes and impairment; and failure to compete successfully against new entrants and established industry competitors. Further information regarding these and other risks is included in SINA’s 2019 annual reports on Form 20-F and other filings with the Securities and Exchange Commission.

Contact:

Investor Relations
SINA Corporation
Phone: +86 10 5898 3336
Email: ir@staff.sina.com.cn

Related Links :

http://www.sina.com

PR Newswire

Guiyang Advocates the Integration of Big Data and Local Industries

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GUIYANG, China, Aug. 7, 2020 — At Guizhou Xingdaxing Building Material Co., Ltd., a worker was controlling three production lines through a big data platform."Today we have produced 939.38 cubic meters, and 0.48 cubic meters are left," he told the journalist of Huanqiu.com.

This system the staff operates is called High-Performance Concrete Smart Manufacturing Big Data Cloud Platform, which demonstrates how Guiyang leverages big data to develop industries.

Guiyang, a previously less developed city in Southwest China, has been known for the application of big data to a great variety of sectors in recent years. As China’s "Big Data Valley", how Guiyang utilizes big data in industries? The journalist of Huanqiu.com interviewed several players in local industries.

As the administrative director of Xingdaxing, Li Fuhui told Huanqiu.com, "launched in 2018, this big data system has become the first high-performance concrete big data project in China. Thanks to the platform, big data has been integrated into all aspects of enterprise production and management. We can monitor and track the whole production cycle, including ordering, manufacturing and delivering."

The corporation currently gains unprecedented visibility into its operations. On this basis, Xingdaxing can immediately spot a market trend and accordingly optimize the value chain, thus maximizing the profit and minimizing the costs.

Li said to Huanqiu.com, "Our production efficiency has increased by 10 percent. Moreover, transaction costs, management costs and product development costs have separately reduced by 40 percent, 50 percent and 40 percent."

It notes that Xingdaxing has advocated the intersection of big data with traditional building material industry. The company derives insight from data-driven solutions to boost productivity and profitability.

In addition to the building material industry, big data solutions can also be employed in the pharmaceutical industry to improve product quality and production efficiency. Guizhou Hanfang Pharmaceutical Co., Ltd. is a case in point.

As director of the Hanfang Pharmaceutical Technology Innovation Center, Zhang Shilin was sitting in the extraction workshop, where a large screen displays the real-time process flow, production parameters and the temperature.

Through automatic detection equipment such as temperature control probes and sensors, the workers can monitor and operate the production line in real time.

He pointed to the screen and told Huanqiu.com, "You can imagine how hard it is to control a two-storey high medicine extraction tank with a storage capacity of six tons. But thanks to the data-driven system, the pharmaceutical temperature range can be accurately controlled within two degrees Celsius, guaranteeing the quality of the medicine."

Furthermore, armed with big data, the workers can save time costs to a large extent. According to Zhang, in the past, it required a great number of manual efforts to submit applications and get instructions.

By comparison, Hanfang has built a data warehouse that gathers information in the production, sales, marketing, testing, management and other links of the entire industry chain.

Guizhou Hanfang Pharmaceutical Co., Ltd. has built a data warehouse that gathers information in the entire industry chain.
Guizhou Hanfang Pharmaceutical Co., Ltd. has built a data warehouse that gathers information in the entire industry chain.

In order to complete the production process, the staff currently just need to log in to the production management system, enter the necessary information. Therefore, the manufacturing operation can be simplified to a great extent, which facilitates efficiency.

It can be seen that the big data solution replaces the previous manual method, hence effectively improving the product quality and production efficiency.

In fact, the successful utilization of big data in local industries is inseparable from government support. As China’s Big Data Valley, Guiyang has accelerated the advancement of smart manufacturing and promoted the intersection of industries with big data in recent years.

In 2019, the local government completed 25 bench-marking projects and 308 demonstration projects for big data, and 7 provincial smart manufacturing pilot projects. Major equipment manufacturing projects include Evergrande new energy vehicles, BYD smart manufacturing and Guiyang Geely engines.

According to the municipal government, in the future, Guiyang will continue the in-depth integration of big data with local industries.

On one hand, the government will cultivate new industries, strengthen the real economy and adhere to supply-side structural reform. In 2020, it plans to introduce more than 120 emerging industrial projects, ensuring the output value of new industries accounts for over 20 percent of the total industrial output value.

On the other hand, Guiyang will take advantage of big data to transform and upgrade traditional industries. In 2020, the local government will implement an internal network transformation of more than 50 industrial enterprises, organize over 20 key service providers to build industrial Internet service resource pools.

Photo – https://photos.prnasia.com/prnh/20200807/2879476-1?lang=0

Related Links :

http://www.huanqiu.com

PR Newswire

Senmiao Technology Limited Announces Closing of US$6.0 Million Public Offering of Common Stock

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CHENGDU, China, Aug. 7, 2020  — Senmiao Technology Limited ("Senmiao") (NASDAQ: AIHS), a provider of automobile transaction and related services targeting the online ride-hailing industry in China, today announced the closing of its previously announced underwritten public offering of 12,000,000 shares of common stock at a price of $0.50 per share.  The total gross proceeds from the offering are US$6.0 million, prior to deducting underwriting discounts and offering expenses.

Mr. Xi Wen, Senmiao’s Chairman and Chief Executive Officer stated, "This financing not only strengthens our balance sheet, but also brings new investors to our company and will help us in regaining compliance with the Nasdaq minimum equity requirement.  We are grateful for this opportunity and plan to utilize the proceeds to further augment our business and help drive value for all shareholders."

Senmiao has granted the underwriters a 45-day over-allotment option to purchase an additional 1,800,000 shares of common stock at the same price, less underwriting discounts and commissions.

The Benchmark Company, LLC and Axiom Capital Management, Inc. acted as joint book-running managers for the offering. Ellenoff Grossman & Schole LLP acted as the Company’s legal counsel and Sheppard, Mullin, Richter & Hampton, LLP acted as legal counsel for the joint bookrunning managers.

The securities described above were offered by Senmiao pursuant to a "shelf" registration statement on Form S-3 (File No. 333-230397) previously filed with the Securities and Exchange Commission (the "SEC") on March 19, 2020, and declared effective by the SEC on April 15, 2020.  A final prospectus supplement and the accompanying prospectus relating to and describing the offering was filed with the SEC. Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained by visiting the SEC’s website at www.sec.gov or by contacting The Benchmark Company, LLC, Attn: Prospectus Department, 150 E. 58th Street, 17th floor, New York, NY 10155, by calling (212) 312-6700 or by e-mail at prospectus@benchmarkcompany.com.

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

About Senmiao Technology Limited

Headquartered in Chengdu, Sichuan Province, Senmiao provides automobile transaction and related services including sales of automobiles, facilitation and services for automobile purchase and financing, management, operating lease, guarantee and other automobile transaction services aimed principally at the growing ride-sharing market in Senmiao’s areas of operation in China. For more information about Senmiao, please visit: http://www.senmiaotech.com.

Cautionary Note Regarding Forward-Looking Statements 

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995, including the statements regarding the use of proceeds of the public offering and Senmiao’s ability to regain compliance with Nasdaq listing standards. These forward-looking statements also are subject to risks, uncertainties and assumptions, including those detailed from time to time in the Senmiao’s filings with the SEC, and represent Senmiao’s views only as of the date they are made and should not be relied upon as representing Senmiao’s views as of any subsequent date. Senmiao undertakes no obligation to publicly revise any forward-looking statements to reflect changes in events or circumstances. 

For more information, please contact:

At the Company:
Yiye Zhou
Email: edom333@ihongsen.com
Phone: +86 28 6155 4399

Investor Relations:
Rene Vanguestaine
Christensen
Email: rvanguestaine@ChristensenIR.com
Phone: +86 178 1749 0483

Linda Bergkamp
Christensen
Email: lbergkamp@ChristensenIR.com
Phone: +1 480 614 3004

 

Related Links :

http://www.ihongsen.com

PR Newswire

AVCtechnologies Announces Agreement to Buy Ribbon’s Kandy Communications Business

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Kandy acquisition adds industry-leading proprietary, multi-tenant cloud communications platform

Combination creates a comprehensive suite of Unified Communications as a Service (UCaaS), Communications Platform as a Service (CPaaS), and Contact Center as a Service (CCaaS) capabilities

ATLANTA and WESTFORD, Massachusetts, Aug. 6, 2020 — American Virtual Cloud Technologies, Inc. (NASDAQ: AVCT) and Ribbon Communications Inc. (NASDAQ:RBBN) today announced they have entered into a definitive agreement for AVCtechnologies to acquire Kandy Communications, an industry-leading proprietary, multi-tenant, highly scalable cloud communications platform, from Ribbon, in an all-stock transaction.


The proposed acquisition combines AVCtechnologies’ 30+ years of experience delivering exceptional white-glove customer service to enterprise customers across a range of managed IT solutions with Kandy’s pure-play, industry-leading, proprietary UCaaS, CPaaS, and CCaaS platform to provide a best-in-class, end-to-end communication experience for channel partners, their customers and end users.

"We are delighted to announce the acquisition of Kandy, which is a major step in strengthening our ability to deliver a comprehensive set of cloud solutions and managed services offerings to our customers," said AVCtechnologies CEO Darrell J. Mays. "We are extremely fortunate to be able to acquire Kandy, which has built one of the most impressive and advanced cloud communication platforms in the world."

"This acquisition significantly accelerates our growth strategy and vision to become a leading provider in the large and fast-growing cloud communications industry while increasing our penetration into global medium-sized and large enterprise clients," added Graham McGonigal, AVCtechnologies Chief Operating Officer.

Founded in 2014, Kandy is a global provider of complex deployments of UCaaS, CPaaS, and CCaaS for mid-market and enterprise customers across its powerful, proprietary multi-tenant, highly scalable cloud platform. The Kandy platform also includes pre-built customer engagement tools, based on WebRTC technology, known as Kandy Wrappers, and provides white-labeled services to a variety of customers including communications service providers and systems integrators. 

Kandy was created to help enterprise adopt the cloud, embrace agile innovation and enable programmable communications to save cost, increase productivity, and grow revenues. With Kandy, communication becomes more immediate and contextual resulting in better business outcomes.

Kandy has built a comprehensive roster of globally recognized customers, including AT&T, City of Los Angeles, IBM, and Etisalat (the largest telecom provider in the UAE).

Bruce McClelland, Ribbon’s CEO, stated "We are extremely impressed with the tremendous depth of talent and vision of the AVCtechnologies’ management team and believe that with the addition of the talented and innovative Kandy team, the company will continue to thrive and flourish. We expect the combination of the two entities to generate significant growth and value, and we are excited to be a shareholder of the combined company."

Upon closing, the senior leadership team of Kandy and its personnel, composed of talented business and technology professionals, are expected to join AVCtechnologies.

Under the agreement, AVCtechnologies will issue thirteen million shares of its common stock to Ribbon Communications. The transaction is expected to close in the second half  of 2020 and is subject to standard regulatory review and receipt of the approval of AVCtechnologies’ stockholders, AVCtechnologies’ completion of an equity offering, as well as other customary closing conditions.

Truist Securities, Inc. is serving as sole financial advisor and Greenberg Traurig LLP is serving as legal counsel to AVCtechnologies. Q Advisors is serving as sole financial advisor and Latham & Watkins LLP is serving as legal counsel to Ribbon.

About American Virtual Cloud Technologies, Inc.
AVCtechnologies makes comprehensive and innovative cloud-based UCaaS, Cybersecurity, and IT solutions simple for over 900 enterprise customers, including 350+ managed service clients. Our mission is to be your single destination partner for the white-glove delivery of reliable and secure managed cloud services, hardware, and software. For more information, visit avctechnologies.com.

About Kandy
Kandy, a division of Ribbon, is a cloud-based, real-time communications platform offering proprietary UCaaS, CPaaS, and CCaaS capabilities. Kandy enables service providers, enterprises, software vendors, systems integrators, partners and developers to enrich their applications and services with real-time contextual communications, providing a more engaging user experience. With Kandy, companies of all sizes and types can quickly embed real-time communications capabilities into their existing applications and business processes. For more information visit kandy.io.

About Ribbon
Ribbon Communications (Nasdaq: RBBN), which recently merged with ECI Telecom Group, delivers global communications software and network solutions to service providers, enterprises and critical infrastructure sectors. We engage deeply with our customers, helping them modernize their networks for improved competitive positioning and business outcomes in today’s smart, always-on and data-hungry world. Our innovative, end-to-end solutions portfolio delivers unparalleled scale, performance, and agility, including core to edge IP solutions, leading-edge software security and analytics tools, as well as packet and optical networking leveraging ECI’s Elastic Network technology. To learn more about Ribbon visit rbbn.com.  For more information about our Elastic Network technology packet-optical portfolio visit ecitele.com.

Important Information and Where to Find It

A full description of the terms of the transaction will be provided in a proxy statement for the stockholders of AVCtechnologies (the "Proxy Statement"), to be filed with the SEC. AVCtechnologies urges investors, stockholders and other interested persons to read, when available, the preliminary proxy statement as well as other documents filed with the SEC because these documents will contain important information about AVCtechnologies, Kandy and the proposed transaction. The definitive proxy statement will be mailed to stockholders of AVCtechnologies as of a record date to be established for voting on the proposed transaction. Stockholders will also be able to obtain a copy of the definitive proxy statement (when available), without charge, by directing a request to: American Virtual Cloud Technologies, Inc., 1720 Peachtree Street, Suite 629, Atlanta, GA 30309. The preliminary and definitive proxy statement, once available, can also be obtained, without charge, at the SEC’s website (www.sec.gov).

Participants in the Solicitation

AVCtechnologies and its directors and executive officers may be considered participants in the solicitation of proxies by AVCtechnologies in connection with the proposed transaction. Information about the directors and executive officers of AVCtechnologies is set forth in its Annual Report on Form 10-K for the fiscal year ended March 31, 2020, which was filed with the SEC on June 29, 2020, and will be set forth in its proxy statement, which will be filed with the SEC when it becomes available. You may obtain these documents (when they become available, as applicable) free of charge through the sources indicated above.

Non-Solicitation

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

Important Information Regarding Forward-Looking Statements  

This release contains forward-looking statements concerning AVCtechnologies, Kandy and Ribbon, the proposed transaction and other matters.  These statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, or otherwise, based on current beliefs of the management of AVCtechnologies and Ribbon, as well as assumptions made by, and information currently available to, such management.  Forward-looking statements may be accompanied by words such as "aim," "anticipate," "believe," "seek," "see," "plan," "could," "would," "should," "estimate," "expect," "forecast," "future," "guidance," "intend," "may," "will," "possible," "potential," "predict," "project," "target" or similar words, phrases or expressions, and include statements regarding the anticipated benefits of the acquisition of Kandy by AVCtechnologies, the required equity offering and anticipated timing of closing of the transaction.  These forward-looking statements are subject to various risks and uncertainties, many of which are outside the parties’ control, such as statements about the consummation of the proposed transaction. 

Factors that could cause actual results to differ materially from those in the forward-looking statements include failure to consummate the proposed transaction; failure to make or take any filing or other action required to consummate the proposed transaction in a timely matter or at all; failure to obtain shareholder approvals in a timely manner or otherwise; failure to satisfy other closing conditions to the proposed transactions; risks that the new businesses will not be integrated successfully; failure to realize anticipated benefits of the combined operations; potential litigation relating to the proposed transaction and disruptions from the proposed transaction that could harm AVCtechnologies’ or Ribbon’s business; ability to retain key personnel; the potential impact of announcement or consummation of the proposed transaction on relationships with third parties, including customers, employees and competitors; and conditions in the capital markets.  The foregoing list of factors is not exhaustive.  All of the parties’ forward-looking statements involve risks and uncertainties (some of which are significant or beyond the parties’ control) and assumptions that could cause actual results to differ materially from their respective historical experience and present expectations or projections.  You should carefully consider the foregoing factors and the other risks and uncertainties that affect the parties’ businesses, including those described in the most recent respective  Annual Report on Form 10-K and Quarterly Reports on Form 10-Q of the parties, as well as the other documents filed by the parties from time to time with the SEC.  The parties caution you not to place undue reliance on any forward-looking statements, which speak only as of the date hereof.  Neither AVCtechnologies nor Ribbon undertakes any obligation to publicly update or revise any of forward-looking statements after the date they are made, whether as a result of any changes in circumstances or new information, future events or otherwise, except to the extent required by applicable law.

The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties, including statement regarding the parties’ ability to consummate the proposed transaction, the timing to consummate the proposed transaction and the anticipated benefits of the proposed transaction. All statements other than statements of historical facts contained in this release are forward-looking statements. The actual results of AVCtechnologies and/or Ribbon Communications may differ materially from those contemplated by the forward-looking statements. Risks and uncertainties that may impact the forward-looking statements contained in this release include, without limitation, the potential that one or more conditions to closing the proposed transaction, including the requisite receipt of AVCtechnologies’ shareholders approval, AVCtechnologies’ ability to successfully complete the required equity financing and the receipt of required regulatory approvals, will not be satisfied. For further information regarding risks and uncertainties associated with AVCtechnologies’ and Ribbon Communications’ respective businesses, please refer to the "Risk Factors" section of their respective most recent annual or quarterly reports filed with the SEC. Any forward-looking statements represent AVCtechnologies’ and/or Ribbon Communications’ views only as of the date on which such statement is made and should not be relied upon as representing either such company’s views as of any subsequent date. While AVCtechnologies and/or Ribbon Communications may elect to update forward-looking statements at some point, each such company specifically disclaims any obligation to do so.

PRESS / ANALYST CONTACTS

American Virtual Cloud Technologies

Thomas King

+1 (404) 239-2863 

info@avctechnologies.com 

Ribbon

Investor Relations

APAC, CALA & EMEA Press

Monica Gould

Catherine Berthier

+1 (212) 871-3927

+1 (646) 741-1974

IR@rbbn.com

cberthier@rbbn.com       

North American Press

Analyst Relations

Dennis Watson

Michael Cooper

+1 (214) 695-2224

+1 (708) 212-6922

dwatson@rbbn.com

mcooper@rbbn.com

 

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PR Newswire

Customer Experience Outsourcers Launch Intelligent and Self-service Options to Improve Business Outcomes in Europe

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Outsourcers integrate advanced analytics, artificial intelligence, and machine learning to improve the customer journey and agent experience, finds Frost & Sullivan

SANTA CLARA, Calif., Aug. 5, 2020 — Frost & Sullivan’s recent analysis, European Customer Experience Outsourcing Services Market, 2020, reveals that outsourcers are increasingly relying on advanced technologies to meet client requirements in the customer experience (CX) outsourcing services industry. The European market is mature and characterized by demands for specific languages, cultural affinity, and nearshoring. COVID-19 has adversely affected the industry in 2020 and Frost & Sullivan expects total market revenue to reach €16.23 billion, a 7.5% decline. Outsourcers, however, display exceptional agility and flexibility when meeting the business continuity challenge. Assuming a reversal of fortune in the next 3 to 4 months, Frost & Sullivan expectsthe market to recover to €20.03 billion by 2024. To stay relevant in the rapidly evolving market, outsourcers must develop new tools to address digitally native customers, cybersecurity challenges, and business continuity as a service.     


For further information on this analysis, please visit: http://frost.ly/49w

"By integrating advanced analytics, artificial intelligence, and machine learning, outsourcers transform the customer journey. Offering customized, automated, and self-service solutions, outsourcers have moved beyond cost and labor arbitrage to instead focus on seamless, omni-channel, value-added experiences," said Deepali Sathe, Information & Communication Technologies Senior Industry Analyst at Frost & Sullivan. "Customers have evolved and expect intelligent interactions and immediate responses. True partnerships developing between clients and outsourcers will enhance the agent experience, mitigate complexity, and encourage empathy."

Leonardo Sampieri, Information & Communication Technologies Industry Analyst at Frost & Sullivan, added, "Sectors such as telecom, banking, financial services, and insurance (BFSI),  and travel and hospitality will see the most changes and will need service providers to help them drive a digital transformation in CX. Healthcare is an area of fast growth, and with COVID-19, the vertical is expected to see rapid growth across Europe that significantly affects outsourcers."

Some of the other areas of focus that can help outsourcers gain competitive advantage are:

  • Cybersecurity and customer trust: European customers in particular are more concerned about data privacy. To enhance CX, companies need to strike a balance between user friendliness and effectiveness.
  • Personalization: Utilize technology and expertise to enhance CX outcomes with customization. CX reflects the effectiveness of operational excellence and outsourcers must integrate technologies that enable better management of customer sentiments.
  • Partnerships: Focus heavily on partnering and expanding the ecosystem. Thinking beyond products and services to identify other important parameters to differentiate in a rapidly commoditizing market will require a flexible and innovative strategy. 
  • Portfolio diversification: Outsourcers that cater to the diverse requirements of specific verticals will enjoy immense growth prospects, as it adds another dimension to the overall value proposition and extends ease of deployment.

European Customer Experience Outsourcing Services Market, 2020 is the latest addition to Frost & Sullivan’s Information & Communication Technologies 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 over five decades, Frost & Sullivan has become world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action. This results in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

European Customer Experience Outsourcing Services Market, 2020
K473-65

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