Tag Archives: ITE

PR Newswire

The Opening Ceremony of All in Print Cloud Will be Held Grandly on August 10th

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SHANGHAI, Aug. 5, 2020 — As one of the organizers, Messe Duesseldorf (Shanghai) Co., Ltd. announces that All in Print China 2020, one of the largest comprehensive printing exhibition across the world this year, will be held as scheduled on October 12-16th, 2020 in Shanghai. Due to the COVID-19 pandemic, many people cannot visit the show on site. Thus, the organizers create a brand-new online platform – All in Print Cloud – which will remain open until the end of the offline exhibition as a value-added service to these visitors. It is also a warm-up of All in Print China 2020. The opening ceremony of All in Print Cloud will be held grandly on August 10th, 2020.

All in Print Cloud aims to bring more business opportunities to enterprises by overcoming communication barriers and integrating online and offline services. It is made up of two parts: Virtual Expo and Live Broadcast.

Visitors can enjoy following services from All in Print Cloud:

  • After registering All in Print China (AIP 2020), visitors will have their own registration ID. Though Virtual Expo platform, visitors can get the information of all exhibitors of AIP 2020 they are interested in and the products.
  • From August 10th, on Live Broadcast platform, visitors can learn the exhibitors’ services and products more directly by watching their introduction videos.
  • Visitors can also communicate with exhibitors in real time and inquire on All in Print Cloud.
  • After pre-registration, visitors can make appointment with exhibitors to book the meeting date and time during offline All in Print China.

All in all, All in Print Cloud integrates presentations, matchmaking and industry exchanges functions for printing and packaging industry, and provides exhibitors and professional buyers with video/live streaming promotions, supplier-buyer matchmaking, real-time communication and online inquiries.

On August 10th, the organizers of All in Print China, local and international industry associations, enterprise representatives will participate in the opening ceremony of All in Print Cloud in the Live Broadcast. They will give more detailed introduction of this platform, and share the show highlights, the latest industry trend with the audience as well.

The opening ceremony of All in Print Cloud will be held at 10 a.m. (Beijing time) on August 10th, visit http://live.shangzhibo.tv/HplqvWxUx for live streaming.

PR Newswire

Donuts Domains releases TrueName(TM). New brand provides more memorable, secure and available names than legacy domains.

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BELLEVUE, Wash., Aug. 4, 2020 — The statistics are startling: seventy-six percent of businesses reported being a victim of a phishing attack in the last year, according to leading cybersecurity firm Retruster. In response, Donuts, Inc. has announced it’s including proprietary anti-phishing technology in every one of their domains.

TrueName(TM) domains by Donuts Inc., the global leader in new top-level domains.
TrueName(TM) domains by Donuts Inc., the global leader in new top-level domains.

Phishing is among the most prevalent forms of online fraud. TrueName offers businesses and individuals the best and now most secure domain names for their websites and other digital destinations. Highly relevant and descriptive TrueName domains protect businesses from imposters using lookalike domains to deceive and defraud their customers.

TrueName parent company Donuts Inc. is the global leader in top-level domains, operating 242 extensions such as .live, .codes, .news and .guru. These top-level domains provide significantly more choice to those searching for their perfect domain name. Relevant domain names ending in .com, .net, and .org are largely unavailable and do not offer the same protection, making TrueName domains uniquely differentiated in the industry.

"If you’re doing business online, you want to focus on innovating and increasing traffic," said Donuts’ Chief Marketing Officer Mina Neuberg.  "TrueName domains are highly brandable and come with security included to prevent phishing attacks, so they offer the best of all worlds to anyone seeking an online edge."

Donuts is working closely with all registrar partners including Name.com, Domene.Shop and Sav.com to integrate branding and messaging so their customers can easily find and register TrueName domains.

To learn more about TrueName, visit www.truename.domains.

About Donuts Inc.
Donuts is the global leader in high-quality, top-level domains for unifying, managing, and amplifying digital identity. We manage the world’s largest portfolio of more than 240 new top-level domains, including: .email, .guru, .social, .restaurant, .live, and hundreds of others. In addition, we provide registrars and resellers with innovative services for the discovery, registration, use, and monetization of high-quality domain names. Learn more at www.donuts.domains.

Press Contact Info: Mina Neuberg, Donuts Inc. Chief Marketing Officer, media@donuts.email

Photo – https://techent.tv/wp-content/uploads/2020/08/donuts-domains-releases-truenametm-new-brand-provides-more-memorable-secure-and-available-names-than-legacy-domains.jpg

 

Related Links :

http://www.donuts.domains

PR Newswire

Airtel Selects Ribbon’s 5G-Native Neptune Platform to Upgrade its Packet Transport Network

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Project will deliver enhanced capabilities and future-proof Airtel’s network

WESTFORD, Massachusetts, Aug. 4, 2020 — Ribbon Communications Inc. (Nasdaq: RBBN), a global provider of real time communications software and network solutions to service providers, enterprises, and critical infrastructure sectors, today announced that Bharti Airtel ("Airtel"), India’s leading integrated telco, has chosen its 5G-Native Neptune platform to enhance its mobile backhaul transport capabilities.

The deployment is part of Airtel’s network strategy to make its network future-proof and ready for a seamless transition to emerging technologies such as 5G. 

Ribbon’s 5G-native Neptune solution will be deployed throughout Bharti Airtel’s India network, providing high capacity, low latency and real time programmability. The Neptune platform enables a powerful, efficient multi-layer next-generation network solution for a seamless evolution to future 5G services.

"Ribbon has been a trusted partner since 2004, and their proven track record gives us confidence that they will successfully manage this upgrade. This compact, robust IP/MPLS-Access solution from Ribbon will both serve our current needs and make the Airtel network 5G ready," said Randeep Sekhon, CTO, Bharti Airtel.

Ribbon’s 5G network solution will be controlled, managed and automated by its cloud-native Muse system, already deployed, which is based on SDN (Software Defined Networking) concepts for real time programmability and network planning applications. Ribbon’s Muse Domain Orchestration provides Airtel with an integrated machine-to-machine ecosystem for end-to-end automated service fulfillment and assurance as well as automated migration from the existing network to the modernized one. 

"5G will unleash a significant array of new applications and services that users around the world will benefit from," said Bruce McClelland, CEO of Ribbon Communications. "We are honored to have been selected by Bharti Airtel for this critical upgrade and look forward to further expanding our relationship while supporting their pioneering vision for the future."  

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, UCaaS/ CPaaS cloud offers, 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 and for more information about our packet and optical networking portfolio visit ecitele.com.

Important Information Regarding Forward-Looking Statements  
The information in this release contains forward-looking statements regarding future events that involve risks and uncertainties. All statements other than statements of historical facts contained in this release are forward-looking statements. The actual results of Ribbon Communications may differ materially from those contemplated by the forward-looking statements. For further information regarding risks and uncertainties associated with Ribbon Communications’ business, please refer to the "Risk Factors" section of Ribbon Communications’ most recent annual or quarterly report filed with the SEC. Any forward-looking statements represent Ribbon Communications’ views only as of the date on which such statement is made and should not be relied upon as representing Ribbon Communications’ views as of any subsequent date. While Ribbon Communications may elect to update forward-looking statements at some point, Ribbon Communications specifically disclaims any obligation to do so.

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

Logo – https://techent.tv/wp-content/uploads/2020/08/airtel-selects-ribbons-5g-native-neptune-platform-to-upgrade-its-packet-transport-network.jpg

Related Links :

http://www.ribboncomm.com

PR Newswire

Sogou Announces Formation of Independent Special Committee to Review Tencent’s Preliminary Non-Binding Proposal to Acquire Sogou

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BEIJING, July 31, 2020 — Sogou Inc. (NYSE: SOGO) ("Sogou" or the "Company"), an innovator in search and a leader in China’s internet industry, announced that today its board of directors (the "Board") has formed a special committee (the "Special Committee") consisting of Mr. Bin Gao, Ms. Jinmei He, and Ms. Janice Lee, each an independent director, to review and evaluate a previously-announced non-binding proposal (the "Proposal") included in a letter that the Board received on July 27, 2020 from Tencent Holdings Limited ("Tencent") for Tencent to acquire all of the outstanding ordinary shares, including ordinary shares represented American depositary shares ("ADSs"), of Sogou that are not already owned by Tencent or its affiliates for US$9.00 in cash per ordinary share or ADS (the "Proposed Transaction"). The Special Committee has retained Goulston & Storrs PC as its United States legal counsel in connection with its review and evaluation of the Proposal.

The Company cautions its shareholders and others considering trading the Company’s securities that that neither the Board nor the Special Committee has made any decision with respect to the Company’s response to the Proposal. There can be no assurance that Tencent will make any definitive offer to the Company, that any definitive agreement relating to the Proposal will be entered into between the Company and Tencent, or that the Proposed Transaction or any other similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.

Safe Harbor Statement

This announcement may contain forward-looking statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. The Company cautions you that a number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. There can be no assurance that Tencent will make any definitive offer to the Company, that any definitive agreement relating to the Proposal will be entered into between the Company and Tencent, or that the Proposed Transaction or any other similar transaction will be approved or consummated.

About Sogou

Sogou Inc. (NYSE: SOGO) is an innovator in search and a leader in China’s internet industry. With a mission to make it easy to communicate and get information, Sogou has grown to become the second-largest search engine by mobile queries and the fourth largest internet company by MAU in China. Sogou has a wide range of innovative products and services, including the Sogou Input Method, which is the largest Chinese language input software for both mobile and PC. Sogou is also at the forefront of AI development and has made significant breakthroughs in voice and image technologies, machine translation, and Q&A, which have been successfully integrated into our products and services.

Related Links :

http://www.sogou.com

PR Newswire

GigaMedia Announces Second-Quarter 2020 Financial Results

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TAIPEI, July 31, 2020 — GigaMedia Limited (NASDAQ: GIGM) today announced its second-quarter 2020 unaudited financial results.

Comments from Management

In the second quarter of 2020, GigaMedia reported revenues of $1.83 million, with a gross profit $0.98 million, an operating loss of $0.55 million and the net loss of $0.42 million. Total revenues increased by 13.8% if compared to the previous quarter.

"In spite of the ongoing disruption of the pandemic to our operations, we have achieved clear improvements," said GigaMedia CEO James Huang. "We have reshaped our cost structure and remodeled our marketing strategies, thereby approximately halved the operating loss if comparing to the same quarter last year."

"And we are also enhancing the playability and stickiness of FunTown M, our in-house developed mobile platform of casual games," continued GigaMedia CEO James Huang, "which will be the most crucial piece to fall in place for our turning profitable beyond just break-even."

Second Quarter Overview

  • Operating revenues increased by approximately 13.8% quarter-on-quarter, to $1.83 million from $1.60 million in last quarter, and 4.3% year-over-year from $1.75 million the same period last year. The increase was mainly attributable to our efforts in revitalizing Tales Runner, a 14-year-old licensed game we operate in Hong Kong.
  • Gross profit increased slightly by 5.5% to $0.98 million from $0.93 million in last quarter, and increased by 27.2% compared to $0.77 million in the same period last year.
  • The net asset value was $4.96 per share.

Unaudited Consolidated Financial Results

GigaMedia Limited is a diversified provider of digital entertainment services. GigaMedia’s digital entertainment service business FunTown develops and operates a suite of digital entertainments in Taiwan and Hong Kong, with focus on browser/mobile games and casual games.

Unaudited consolidated results of GigaMedia are summarized in the table below.

For the Second Quarter

GIGAMEDIA 2Q20 UNAUDITED CONSOLIDATED FINANCIAL RESULTS

(unaudited, all figures in US$ thousands, except
per share amounts)

2Q20

1Q20

Change

(%)

2Q20

2Q19

Change

(%)

Revenues

1,826

1,604

13.8

%

1,826

1,750

4.3

%

Gross Profit

978

927

5.5

%

978

769

27.2

%

Loss from Operations

(549)

(640)

NM

(549)

(1,122)

NM

Net Loss Attributable to GigaMedia

(419)

(286)

NM

(419)

(614)

NM

Net Loss Per Share Attributable to

   GigaMedia, Diluted

(0.04)

(0.03)

NM

(0.04)

(0.06)

NM

EBITDA (A)

(634)

(536)

NM

(634)

(1,000)

NM

Cash, Cash Equivalents and

   Restricted Cash

56,783

57,311

(0.9)

%

56,783

58,015

(2.1)

%

NM= Not Meaningful

(A)  EBITDA (earnings before interest, taxes, depreciation, and amortization) is provided as a supplement to
results provided in accordance with U.S. generally accepted accounting principles ("GAAP"). (See, "Use
of Non-GAAP Measures," for more details.) 

Second-Quarter Financial Results

  • Consolidated revenues for the second quarter of 2020 increased by 13.8% quarter-on-quarter to $1.83 million from $1.60 million in last quarter, and by 4.3% year-over-year from $1.75 million the same period last year.
  • Consolidated gross profit was $0.98 million, increased by 5.5% quarter-on-quarter and 27.2% year-over-year.
  • Consolidated operating expenses were $1.53 million, comparable to the first quarter of 2020 and decreased by 19.3% if compared to the same period last year, which reflected a decrease in marketing expenses and general expenses.
  • Consolidated loss from operation of the second quarter of 2020 was a loss of $0.55 million, reflecting an improvement from a loss of $0.64 million in the first quarter.
  • Net loss in the second quarter of 2020 was $0.42 million, increasing from a net loss of $0.29 million in the first quarter this year mainly due to lower interest income and exchange loss in this quarter. 
  • Cash, cash equivalents and restricted cash at the end of the second quarter of 2020 amounted to $56.8 million, slightly decreased by 0.9% from $57.3 million as of the end of the first quarter.

Financial Position

GigaMedia maintained its solid financial position, with cash, cash equivalents and restricted cash amounted to $56.8 million, or $5.14 per share, as of June 30, 2020.

Business Outlook

The following forward-looking statements reflect GigaMedia’s expectations as of July 30, 2020. Given potential changes in economic conditions and consumer spending, the evolving nature of digital entertainments, and various other risk factors, including those discussed in the Company’s 2019 Annual Report on Form 20-F filed with the U.S. Securities and Exchange Commission as referenced below, actual results may differ materially.

In the second half of 2020, we will continue improving productivities of the existing games, in which FunTown M, our own mobile platform of casual games, is expected to begin contributing to our revenues. Along with our various product lines and customer platform, we will gradually accumulate the momentum to an upward trend.  

Meanwhile, our management continues evaluating and pursuing prospects of strategic investment targets that are with potential to expand our business and create greater shareholder value.

Use of Non-GAAP Measures

To supplement GigaMedia’s consolidated financial statements presented in accordance with US GAAP, the Company uses the following measure defined as non-GAAP by the SEC: EBITDA. Management believes that EBITDA (earnings before interest, taxes, depreciation, and amortization) is a useful supplemental measure of performance because it excludes certain non-cash items such as depreciation and amortization and that EBITDA is a measure of performance used by some investors, equity analysts and others to make informed investment decisions. EBITDA is not a recognized earnings measure under GAAP and does not have a standardized meaning. Non-GAAP measures such as EBITDA should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, other financial measures prepared in accordance with GAAP. A limitation of using EBITDA is that it does not include all items that impact the company’s net income for the period. Reconciliations to the GAAP equivalents of the non-GAAP financial measures are provided on the attached unaudited financial statements.

About the Numbers in This Release

Quarterly results

All quarterly results referred to in the text, tables and attachments to this release are unaudited. The financial statements from which the financial results reported in this press release are derived have been prepared in accordance with U.S. GAAP, unless otherwise noted as "non-GAAP," and are presented in U.S. dollars.

Q&A

For Q&A regarding the second quarter 2020 performance upon the release, investors may send the questions via email to IR@gigamedia.com.tw, and the responses will be replied individually.

About GigaMedia

Headquartered in Taipei, Taiwan, GigaMedia Limited (Singapore registration number: 199905474H) is a diversified provider of digital entertainment services in Taiwan and Hong Kong. GigaMedia’s digital entertainment service business is an innovative leader in Asia with growing capabilities of development, distribution and operation of digital entertainments, as well as platform services for games with a focus on mobile games and casual games. More information on GigaMedia can be obtained from www.gigamedia.com.tw.

The statements included above and elsewhere in this press release that are not historical in nature are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding expected financial performance (as described without limitation in the "Business Outlook" section and in quotations from management in this press release) and GigaMedia’s strategic and operational plans. These statements are based on management’s current expectations and are subject to risks and uncertainties and changes in circumstances. There are important factors that could cause actual results to differ materially from those anticipated in the forward looking statements, including but not limited to, our ability to license, develop or acquire additional online games that are appealing to users, our ability to retain existing online game players and attract new players, and our ability to launch online games in a timely manner and pursuant to our anticipated schedule. Further information on risks or other factors that could cause results to differ is detailed in GigaMedia’s Annual Report on Form 20-F filed in April 2020 and its other filings with the United States Securities and Exchange Commission.

(Tables to follow)

 

GIGAMEDIA LIMITED

CONSOLIDATED STATEMENTS OF OPERATIONS

Three months ended

Six months ended

06/30/2020

03/31/2020

06/30/2019

06/30/2020

06/30/2019

unaudited

unaudited

unaudited

unaudited

unaudited

USD

USD

USD

USD

USD

Operating revenues

Digital entertainment service revenues

1,825,547

1,603,904

1,749,583

3,429,450

3,232,816

Other revenues

—

—

—

—

—

1,825,547

1,603,904

1,749,583

3,429,450

3,232,816

Operating costs

Cost of digital entertainment service

    revenues

847,906

677,194

980,448

1,525,099

1,725,350

Cost of other revenues

—

—

—

—

—

847,906

677,194

980,448

1,525,099

1,725,350

Gross profit

977,641

926,710

769,135

1,904,351

1,507,466

Operating expenses

Product development and engineering

   expenses

332,745

328,815

325,144

661,560

645,638

Selling and marketing expenses

367,529

410,475

580,539

778,004

1,106,542

General and administrative expenses

825,998

824,442

974,648

1,650,440

1,810,634

Other

(42)

2,984

11,165

2,942

16,380

1,526,230

1,566,716

1,891,496

3,092,946

3,579,194

Loss from operations

(548,589)

(640,006)

(1,122,361)

(1,188,595)

(2,071,728)

Non-operating income (expense)

Interest income

212,881

255,719

414,450

468,600

796,250

Foreign exchange (loss) gain – net

(82,357)

98,887

90,922

16,529

79,520

Other – net

(1,404)

(298)

3,416

(1,702)

50,328

129,120

354,308

508,788

483,427

926,098

Loss before income taxes

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Income tax benefit (expense)

—

—

—

—

—

Net loss attributable to shareholders of
GigaMedia

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Loss per share attributable to GigaMedia

   Basic

(0.04)

(0.03)

(0.06)

(0.06)

(0.10)

   Diluted

(0.04)

(0.03)

(0.06)

(0.06)

(0.10)

Weighted average shares outstanding:

Basic

11,052,235

11,052,235

11,052,235

11,052,235

11,052,235

Diluted

11,052,235

11,052,235

11,052,235

11,052,235

11,052,235

 

GIGAMEDIA LIMITED

CONSOLIDATED BALANCE SHEETS

06/30/2020

03/31/2020

06/30/2019

unaudited

unaudited

unaudited

USD

USD

USD

Assets

Current assets

Cash and cash equivalents

56,247,678

56,777,472

57,489,563

Accounts receivable – net

349,450

355,225

591,905

Prepaid expenses

228,794

276,010

275,551

Restricted cash

535,153

533,436

525,354

Other receivables

203,671

238,396

458,383

Other current assets

142,230

148,757

131,150

Total current assets

57,706,976

58,329,296

59,471,906

Property, plant & equipment – net

7,740

8,117

92,580

Intangible assets – net

17,111

17,965

23,545

Prepaid licensing and royalty fees

184,365

210,530

574,274

Other assets

290,687

285,319

1,035,529

Total assets

58,206,879

58,851,227

61,197,834

Liabilities and equity

Accounts payable

69,147

60,405

119,597

Accrued compensation

278,622

156,948

253,262

Accrued expenses

1,321,262

1,449,553

1,340,539

Unearned revenue

1,058,940

1,285,399

1,617,881

Other current liabilities

627,162

715,877

197,776

Total current liabilities

3,355,133

3,668,182

3,529,055

Other liabilities

3,653

7,337

781,187

Total liabilities

3,358,786

3,675,519

4,310,242

GigaMedia’s shareholders’ equity

54,848,093

55,175,708

56,887,592

Total liabilities and equity

58,206,879

58,851,227

61,197,834

GIGAMEDIA LIMITED

RECONCILIATIONS OF NON-GAAP RESULTS OF OPERATIONS

Three months ended

Six months ended

06/30/2020

03/31/2020

06/30/2019

06/30/2020

06/30/2019

unaudited

unaudited

unaudited

unaudited

unaudited

USD

USD

USD

USD

USD

Reconciliation of Net Loss to EBITDA

Net loss attributable to GigaMedia

(419,469)

(285,698)

(613,573)

(705,168)

(1,145,630)

Depreciation

535

354

14,769

889

40,156

Amortization

(2,257)

4,657

12,830

2,400

25,729

Interest income

(212,881)

(255,719)

(414,450)

(468,600)

(796,250)

Interest expense

—

—

—

—

—

Income tax (benefit) expense

—

—

—

—

—

EBITDA

(634,072)

(536,406)

(1,000,424)

(1,170,479)

(1,875,995)

 

 

Related Links :

http://www.gigamedia.com

http://www.gigamedia.com.tw

PR Newswire

Mr. Anil Jaggia, Former CIO, HDFC Bank, joins Cloud4C – a CtrlS Company, as a Strategic Advisor

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He will play a pivotal role in designing innovative smart and intelligent technology solutions for the Banking sector

SINGAPORE and HYDERABAD, India, July 31, 2020 —  Mr. Anil Jaggia, former CIO, HDFC Bank, and a technology veteran has joined Cloud4C – a CtrlS company, as a strategic advisor for the banking practice. He will work closely with the organization’s leadership team with a key focus on enabling large banking transformation projects on Cloud, DevOps, Automation, and aid banks in their digital transformation journey. He is a graduate in management from IIM Ahmedabad and holds an engineering degree from IIT Kanpur. He enjoys strong credentials and brings along over 30 years of rich experience across a wide spectrum of financial services, business and IT strategies.

Mr. Anil Jaggia, Former CIO, HDFC Bank, joins Cloud4C – a CtrlS Company, as a Strategic Advisor
Mr. Anil Jaggia, Former CIO, HDFC Bank, joins Cloud4C – a CtrlS Company, as a Strategic Advisor

Earlier, in 2008, Mr. Anil Jaggia – a highly respected and visionary technology leader in the banking sector – had taken over as CIO of HDFC Bank and played a key role in digital transformation of the bank and led it to an enviable leadership position. Some of the key initiatives taken by him at HDFC Bank were around core transformation, data warehouse, Analytics, Digital Banking, Business Continuity, along with additional responsibility to lead a Coordination Council for Financial Inclusion (FI) and Sustainable Livelihood Banking (SLB). Before joining HDFC Bank, he was Chief Operating Officer of Centurion Bank of Punjab Limited, for four years. Before this, Mr. Jaggia worked for over 18 years with Citibank at Chicago, New York, Singapore, Mumbai and Kolkata.

Mr. Anil Jaggia said, “I am happy to join Cloud4C as a Strategic Advisor. The world of banking is now strategically moving from physical banking to contact-less banking. The future is where everything will communicate through internet of things to find and engage customers powered by artificial intelligence, machine learning, social technologies, analytics and efficient storage and computing technologies.” He further said, “I am looking forward to actively and closely working with the Cloud4C leadership team to build innovative, new age, collaborative, agile, open, secure, rapidly scalable and regulatory compliant banking technology solutions to help banking sector embrace the digital future.”

Digital banking is the future as banking products and services will be delivered through mobile apps, processed through API, and delivered through all internet channels making virtual banking a reality. Digital Banking worldwide market is projected to reach $500 billion by 2027 with a digital user base of 4 billion. Cloud4C with its presence in 50 locations across 25 countries plans to serve 25,000 banks worldwide through its banking community cloud and other new age banking technology solutions combined with its intelligent cloud managed services. The company today serves 60 of the Fortune 500 global multinationals and 20+ banks globally compliant with regulations such as GDPR in Europe RBI guidelines in India among others.

Mr. Sridhar Pinnapureddy, Founder and CEO, Cloud4C Services, said, “I am extremely delighted to welcome Mr. Anil Jaggia, a seasoned banking industry veteran who brings deep experience in business-IT alignment, innovation in IT strategies in banking sector. I extend him a warm welcome to the Cloud4C family. He further added, “Mr. Anil will play a key role in shaping our new age technology solutions for the banking sector as banking is becoming embedded and ubiquitous.”

About Cloud4C

Cloud4C is the World’s leading Cloud Managed Services provider and trusted advisor to 4,000 customers in 25 Countries and 50 locations including 60 of the Fortune 500 Global Multinationals. The company provides cloud (public, private, hybrid) and community cloud services (Banking Community Cloud, SAP Community Cloud), cloud migration on hyperscalers such as AWS, Microsoft Azure, Google Cloud, end to end intelligent cloud managed services, disaster recovery services, managed security services and helps businesses comply with  stringent data sovereignty laws in respective countries.

The company plans to expand its geographical footprint to 80 countries and 160 locations worldwide in the next 36 to 48 months.

www.cloud4c.com

Media Contact:
B.S. Rao
Vice President and Global Head (PR and Communications)
Cloud4C Services
bsrao@cloud4c.com
www.cloud4c.com

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PR Newswire

eBaoCloud InsureMO Accelerates Insurance Customer Growth on AWS

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Over the last year, Aegon Life has strengthened its position as a digital insurer by leveraging eBaoCloud’s InsureMO on AWS to gain speed and agility

NEW YORK, July 30, 2020 — eBaoTech Corporation (eBaoTech), a global leader in digital insurance solutions, announced that Aegon Life has joined more than 10 new clients across the US, Brazil, India, Botswana, Philippines, Indonesia, and Singapore – ranging from insurance carriers, insurtech startups, and digital channel partners – that have turned to InsureMO™ on Amazon Web Services (AWS) for increased agility and innovation, including faster product launches and new channel integrations.

Aegon Life India chose InsureMO on AWS, to help extend investments in core systems without wholesale replacement of those systems. Core systems are often a barrier to digital innovation, new products across new channels delivering a better user experience, and replacing them is often too costly and time consuming. eBaoCloud InsureMO provides an API-based modernization layer around core systems that enables configuration of new insurance policy types, integration to new channels and partners, and rapid development and deployment of new products with low launch costs that drive new policy volumes at scale. For example, Aegon Life was able to launch its group platform with an eCommerce company within six weeks, which otherwise would have taken months.

Additional benefits for Aegon Life include:

  • Multiple lines of businesses running off a single platform enabled by InsureMO
  • API support for distribution partners willing to do servicing beyond just sales (making Aegon Life one of a few carriers capable of providing this type of support)
  • Shortening new product launches from months to 2-3 weeks
  • Launching new insurance plans for affinity partners in less than a day
  • Reducing the partner onboarding process from weeks to 1-3 days

All of these benefits are enabled by the scale, resiliency, and agility AWS offers.

eBaoCloud® InsureMO™ platform is based on a microservices architecture and contains common APIs needed to manage the whole lifecycle of General (P&C), Life, and Health insurance policies. This includes quotation, illustration, underwriting, payment, and claims. The platform can seamlessly integrate with external applications and services such as Optical Character Recognition (OCR), voice recognition, payment, and location by API calls. InsureMO also supports third parties to develop APIs and register on InsureMO. The availability of templates enables product configuration and speed. Currently, over 3,000 products templates from over 120 insurance companies across more than 10 countries have been configured on eBaoCloud InsureMO.

“The term ‘Digital Transformation’ in insurance is no longer about just replacing your legacy core with a modern core system. The need is to package and launch products in matter of days and connect to multiple channels. eBaoCloud’s  InsureMO platform solves the same problem with the ‘3V‘ proposition (massive Volume, Velocity and Variation) without waiting for legacy core replacements and driving API-led connectivity to enable any insurance scenarios from Life, General, Group, and Health,”  Rajat Sharma, Corporate VP and Head of Sales and Strategy commented, “We are very excited to work with AWS and rely on them, with the broadest global presence, to quickly roll out InsureMO during this critical industry revolution era.”

InsureMO’s first client in India, Douglas Kennedy, Chief Technology Officer, Aegon Life Insurance said, “We are delighted to be included in the first wave of partnerships for eBaoCloud InsureMO on AWS in India. This association will help us continue to be the differentiators in the industry and achieve greater speed to market and speed to value. The first launch of our group platform with an eCommerce player was achieved within six weeks of signing our partnership with eBaoTech demonstrating by having the right teams, right architecture, right vision you can run at great speed.”

Ralph Severini, Global Strategy Lead, AWS Insurance Independent Software Vendors, Amazon Web Services, Inc. said, “AWS is delighted to support eBaoTech as they leverage the agility and scale of the cloud to bring new and innovative products to market faster with the goal of providing richer experiences for their customers. AWS’s collaboration with eBao provides Aegon Life with the foundation to achieve accelerated growth at scale and support expedited policy delivery, which their customers have come to expect.”

eBaoTech holds AWS Financial Services Competency status and is an Advanced Technology Partner in the AWS Partner Network (APN). Achieving the AWS Financial Services Competency differentiates eBaoTech as an APN member that possesses deep industry expertise, solutions designed with AWS architectural best practices, and staff with AWS certifications. APN Partners are vetted, validated, and verified against a high bar to achieve the AWS Competency designation.

Watch an online video about Aegon Life Insurance Company CTO sharing the success story at https://vimeo.com/442616376

About eBaoTech
eBaoTech is a digital solution provider to the global insurance industry and our mission is to “make insurance easy”. We do business in more than 30 countries globally, serving over 200 carriers and numerous agents, brokers, insurTech’s and others in the insurance ecosystem. Digital insurance is the coming wave and the insurance industry is moving into the API economy. eBaoTech provides solutions and services that enable digital insurance.

eBaoTech has been dedicated to insurtech innovation since its founding in 2000. In 2001, eBaoTech developed the world’s first browser/server-based insurance core system suite, leading the advent and adoption of Java-based 3G insurance IT. In 2015 eBaoTech launched the world’s first distributed, cloud-native and microservices based 4G insurance platform that provides a complete set of insurance APIs across an insurance policy’s full lifecycle. eBaoTech offers a cloud based solution that enables digital insurance and enterprise level core system insurance software. We make insurance easy.

eBaoTech Digital Solutions

eBao Cloud is a family of products based on open API insurance platform that provides real time connectivity and transactional capabilities to insurers, traditional channel partners, affinity partners, and insurTech startups. eBao Software includes core system suites for Life, P&C, and Health Insurers as well Re-Insurers. More information, please visit www.ebaotech.com.

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PR Newswire

Cinemas reopen across China after unprecedented closure

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BEIJING, July 30, 2020 — A news report by China.org.cn on the reopening of China’s cinemas:

 

 

Since last week, cinemas in low-risk regions of China have reopened for business. This means that after six months in the dark, the country’s movie theaters can finally accept customers again, and China’s film market can begin where it left off.

According to the pandemic control requirements, movie theaters are now required to keep attendance under 30% capacity for each screening and strictly disinfect venues every day. Moviegoers must undergo temperature checks prior to admission, should sit in non-adjacent seats, and need to wear face masks when watching films. Currently, theaters are mainly screening hit domestic and foreign films, such as “The Wandering Earth”, “Coco” and “Zootopia.” Several new domestic movies are also set for release in the coming months.

On the first day of reopening, cinemas in cities such as Nanjing, Chengdu and Hangzhou quickly sold out. With the Shanghai International Film Festival opening on July 25 and screening more than 300 films, tickets for the event also sold out almost entirely in three minutes. In total, over 100,000 tickets were sold within just 10 minutes of presales being launched.

This year, the COVID-19 pandemic has resulted in an unprecedented shutdown of the global movie industry. China’s film market has also encountered huge difficulties. By March this year, more than 2,000 cinema enterprises had closed permanently across the country, with estimated losses in box office revenue for the year amounting to more than 30 billion yuan (US$4.27 billion).

China is the world’s second largest film market. During the past two decades, with increases in economic development and consumption, and through the opening-up of markets and deepening reforms, the Chinese film market has maintained rapid growth in terms of market scale and production. In 2019, the country had nearly 70,000 screens, while the annual box office gross peaked as high as 64.27 billion yuan (US$9.17 billion). This shows that China’s film market has robust demand and potential, which will be unleashed gradually over time.

Although there are still many complex and difficult problems facing cinemas as they resume operations, the reopening is significant. It conveys positive signals that China’s economy is starting to recover from the pandemic, and social life is beginning to get back on track. For the global film market, the reopening of Chinese cinemas is also good news. Hopefully, it won’t be long before China’s film market resumes to its usual prosperity.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm

Cinemas reopen across China after unprecedented closure
http://www.china.org.cn/video/2020-07/30/content_76329991.htm

 
PR Newswire

Frost & Sullivan: Proliferation of Edge Computing and Testing M2M Solutions to Drive IoT Test and Measurement Market by 2025

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Understanding the performance of proprietary applications on connected devices outside the enterprise secure network infrastructure will be a key challenge

SANTA CLARA, California, July 30, 2020 — Frost & Sullivan’s recent analysis, Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025, finds that because of COVID-19 the proliferation of machine-to-machine (M2M) devices will decrease during 2020. This will have a significant impact on the demand for testing equipment that validates their performance (with the exception of equipment for connected health applications). Frost & Sullivan expects growth to rebound by 2021, with revenue ultimately expanding at a compound annual growth rate (CAGR) of 5.1% to reach $3.25 billion by 2025, up from $2.40 billion in 2019.

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

"5G development for IoT use cases will continue to be important during the pandemic. Given the complex nature of its deployment, there would be a requirement for software-based testing solutions that can test virtualized 5G network slices as well as test broad frequency spectrums," said Rohan Joy Thomas, Measurement & Instrumentation industry analyst at Frost & Sullivan. "Going forward, understanding the performance of proprietary applications on connected devices outside the enterprise secure network infrastructure is a key challenge that test and measurement companies need to resolve.

"Of all the IoT applications, test and measurement solutions that are used to test M2M applications in the connected home environment are the most dominant, representing 45.7% of all IoT test applications. As the healthcare sector plays a crucial role in combating COVID-19, test and measurement solutions used for connected health applications will experience the highest CAGR of all applications over the forecast period."

The proliferation of IoT across industries has presented immense growth opportunities for market participants involved in the IoT test and measurement space. Frost & Sullivan recommends that they:

  • Develop solutions that can test high-speed Ethernet interfaces as well as physical entities.
  • Provide over-the-air testing solutions that can test sub-6 gigahertz as well as higher millimeter wave applications.
  • Introduce enhanced software testing capabilities along with artificial intelligence, machine learning, and cybersecurity to enhance the portfolio
  • Provide solutions that can regulate the consumption of energy from connected devices operating at narrowband frequencies and low energy levels, thereby increasing the device’s longevity.

Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025 is the latest addition to Frost & Sullivan’s Measurement & Instrumentation 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, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Growth Opportunities in Test and Measurement in the IoT Market, Forecast to 2025
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Media Contact:
Srihari Daivanayagam
Corporate Communications 
M: +91 9742676194; P: +91 44 6681 4412
E: srihari.daivanayagam@frost.com

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Mobile Field Service Management Market in North America Set to Surpass $4 Billion by 2025

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Increasing migration towards cloud-based field service management solutions presents immense growth prospects finds Frost & Sullivan

SANTA CLARA, California, July 30, 2020 — Frost & Sullivan’s recent analysis, North American Mobile Field Service Management Market Continues to Offer Expansion Opportunities: Forecast to 2025, reveals that the mobile field service management (FSM) market in North America is expected to surpass $4 billion by 2025, exhibiting a compound annual growth rate of 17.4%. FSM’s mobility component continues to spur market adoption by expanding its addressable market and introducing new cutting-edge technologies and partnerships to the FSM ecosystem. Although user growth is expected to slow down due to COVID-19, it is likely to recover by 2022 and witness more than two-fold growth over the forecast period.


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

"Mobilized FSM solutions enable remote service workers to receive and transmit work-related information and guidance on a real-time basis," said Jeanine Sterling, Information & Communication Technologies Industry Director at Frost & Sullivan. "Going forward, we expect these solutions to continue to produce impressive hard-dollar results by improving field response times, reducing paperwork, decreasing labor expenses, expediting cash flow, and increasing new sales leads."

Sterling added: "Users of mobilized FSM solutions are demonstrating an increasing level of interest in cutting-edge technologies as they can offer a differential advantage in highly competitive sectors. For example, the escalating deployment of machine learning and artificial intelligence in the FSM space alongside the integration of mobile FSM solutions with Internet of Things platforms enabling a more proactive and highly-valued approach to both machine maintenance and technician workflows."

Customers’ increasing migration towards cloud-based FSM solutions versus purchasing on-premise offerings presents immense growth prospects for mobile FSM solutions providers.

  • Vertical-specific solutions will create new revenue streams for FSM solutions providers and their channels.
  • High-powered, low-latency 5G networks can pave the way to a new level of FSM apps and capabilities.
  • Sharpening predictive and proactive field service capabilities will optimize the service experience and increase profitability.
  • Implementing high-touch post-sale communications strategies will uncover and capture incremental sales opportunities.
  • Optimizing FSM solution integration will enhance customer satisfaction, expedite service response intervals, and increase profits.

North American Mobile Field Service Management Market Continues to Offer Expansion Opportunities: Forecast to 2025 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, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

North American Mobile Field Service Management Market Continues to Offer Expansion Opportunities: Forecast to 2025

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Media Contact:

Srihari Daivanayagam
Corporate Communications
M: +91 9742676194; P: +91 44 6681 4412
E: srihari.daivanayagam@frost.com

http://ww2.frost.com

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