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Vectorworks and Solibri Inside Integration to Save Architects Time and Money


New, SaaS-Based Solution from Solibri Provides In-Design Model Checking for Vectorworks Users.

COLUMBIA, MD., Jan. 23, 2023 /PRNewswire/ — Global design and BIM software provider Vectorworks, Inc. has partnered with fellow Nemetschek Group brand Solibri to offer users a new way to deliver quality designs confidently. With Solibri Inside, you can validate, report and modify design errors in an easy-to-use model checker directly inside Vectorworks. Created with designers’ needs in mind, the new feature helps to reduce risk with fewer errors and improves efficiency with fewer file exchanges, saving architects, their consultants and clients valuable time and money.

“Quality assurance is a critical component of BIM, but many architecture firms have historically lacked a robust way to accurately and efficiently check their models,” said Vectorworks CEO Dr. Biplab Sarkar. “We’re proud to alleviate this pain point for our users in collaboration with Solibri through this integrated, flexible and time-saving solution. Solibri Inside provides automatic rule-based checking in a convenient application, so architects can confidently deliver high-quality, precise designs every time.”

This innovative feature now works within the latest version, Vectorworks 2023 Service Pack 3, eliminating the need for users to open another software platform to perform basic model checking. Users can ensure their BIM models comply with building regulations, national and international standards or a specific project’s BIM requirements seamlessly before sharing with other project stakeholders within their workflow.

“Today sees another step towards ‘better BIM,'” said Solibri CEO Ville Kyytsönen. “Solibri’s mission is to improve the quality of digital construction. BIM is essential in this mission – it is the ‘single source of truth.’ Solibri is improving the quality of models by bringing quality checking as part of the model authoring process. With Solibri Inside, we improve the process by enabling more QA early in the process before coordination takes place.”

Vectorworks users can install the plug-in now through the Partner Installation Palette. The first release of Solibri Inside comes with a free standard package for checking door and window clearances and the supporting Level of Information (LOI) in your Vectorworks building information model. Users can unlock additional features by registering a Solibri Inside account. With a Solibri Inside account, users can add Premium paid packages, giving users the ability to create customized rule checks to meet their project’s BIM requirements.

For more information on utilizing Solibri Inside within Vectorworks, visit www.solibri.com/inside.

About Vectorworks, Inc.

Vectorworks, Inc. is an award-winning design and BIM software provider serving the architecture, landscape architecture and entertainment industries in 85 countries. Built with designers in mind since 1985, Vectorworks software offers you the freedom to follow your imagination wherever it leads you. Globally more than 685,000 users are creating, connecting and influencing the next generation of design with Vectorworks on Mac and Windows. Headquartered in Columbia, Maryland, with offices in the UK, Canada and Australia, Vectorworks is a part of the Nemetschek Group. Learn how you can design without limits at vectorworks.net or follow @Vectorworks.

Nippon Life India Chooses SS&C to Accelerate Expansion in Singapore


The firm will leverage the SS&C Eze asset management platform to scale Singapore strategy

WINDSOR, Conn., Jan. 23, 2023 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced Nippon Life India Asset Management (Singapore) Pte. Ltd. (Nippon Life India Singapore), the offshore multi-asset, multi-strategy platform of Nippon Life India Asset Management Limited, has transitioned its operations onto the SS&C Eze asset management platform. The firm will now take advantage of the Eze Investment Suite ecosystem for its recently launched Fixed Income ETF, among other funds.

“We were looking for a singular, scalable and robust solution to streamline our front-to-back investment operations and data across asset classes and strategies. Eze’s longstanding reputation, its ability to scale up and its capability in handling the entire investment process made Eze Investment Suite a great choice for our investment operations,” said Abhijit Singh, CEO and Global Head, International Business at Nippon Life India Singapore. “SS&C’s deep experience and capabilities supporting firms similar to ours make them a valuable, trusted partner in our growth strategy. The platform’s expansive capabilities and flexibility will enable our teams to evolve the business seamlessly over time.”

Nippon Life India Singapore manages funds investing in Indian capital markets and UCITS funds for international investors focusing on Indian Equities, Fixed Income, & Alternative assets.

“Nippon Life India Singapore is at an exciting point in their expansion, and we are pleased to be a partner,” said Frank Maltais, Head of Sales, APAC, SS&C Eze. “SS&C focuses on reducing the friction of business data flow by eliminating burdensome paperwork, Excel spreadsheets, manual and double-entry to deliver automated reporting. Our teams have cultivated a strong rapport, which will be crucial to future momentum.”

About Nippon Life India Asset Management (Singapore) Pte. Ltd.

Nippon Life India Asset Management (Singapore) Pte. Ltd. was set up in 2006 as an offshore platform of Nippon Life India Asset Management Limited (“NLIAM”) for international clients. NLIAM is the asset manager of Nippon India Mutual Fund, one of India’s largest mutual fund companies. Nippon Life India Asset Management (Singapore) Pte. Ltd. is regulated by the Monetary Authority of Singapore, and holds a Capital Market Services (“CMS”) license to carry out fund management activities under the Securities and Futures Act (“SFA”) in Singapore.

About SS&C Technologies

SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale and technology.

SOURCE: SS&C

Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com.

Follow SS&C on Twitter, LinkedIn and Facebook.

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Baijiayun Group Ltd Announces Fiscal Year 2022 Financial Results of BaiJiaYun Limited, Its Wholly-owned Subsidiary

  • Revenues of BaiJiaYun Limited grow by 65% as real-time video communications solutions see high adoption, penetrate new vertical markets

BEIJING, Jan. 21, 2023 /PRNewswire/ — Baijiayun Group Ltd (“Baijiayun” or the “Company”) (Nasdaq: RTC), a video-centric technology solution provider with core expertise in SaaS/PaaS solutions, today announced the financial results for the fiscal year ended June 30, 2022 of BaiJiaYun Limited, its wholly-owned subsidiary.

Financial Highlights for the Fiscal Year Ended June 30, 2022 of BaiJiaYun Limited

  • Total revenues increased by 65.5% year over year to $68.6 million for FY 2022 
  • Selling and marketing expenses as a percentage of total revenues decreased from 15.8% for FY 2021to 10.8% for FY 2022
  • Net loss was $12.6 million for FY 2022 as compared to net income of $3.6 million for FY 2021
  • Non-GAAP net loss[1] was $1.7 million for FY 2022 compared to non-GAAP net income of $3.6 million for FY 2021 
  • Non-GAAP adjusted EBITDA1 was negative $5.5 million for FY 2022 compared to positive $2.6 million for FY 2021

“We delivered blistering revenue growth last fiscal year, benefiting from our differentiated value proposition as a one-stop video technology solutions provider in China,” commented Mr. Gangjiang Li, chairman and CEO of the Company. 

“We have built industry-leading proprietary Real-Time Communications (RTC) video capabilities as the core of our competitive advantages. Our cloud-based network architecture provides one of the highest compatibility, availability, and scalability of video-centric solutions in China. This technology enables our customers to benefit from ultra-low latency, high-concurrency capacity, and data security in real-time interactions. 

“In the future, we will continue to focus on further enhancing the functionality of our platform, cultivating multiple vertical markets, and developing AI-enabled services while improving the customer experience to seize greater market share in the fast-growing video cloud total solutions marketplace. Real-time video represents the future of scalable communications across a wide range of use cases, including education, sales, leadership and training, healthcare, customer service, and R&D and technology collaboration. We believe that we have the opportunity to build an industry-leading platform while transforming the way that people learn, collaborate, heal, and work,” Mr. Li concluded. 

Operating Highlights for the Fiscal Year Ended June 30, 2022 of BaiJiaYun Limited

  • To take advantage of the rapid growth of the video cloud solutions industry in China, the Company formed a new strategic pattern to comprehensively develop three main business lines, with video-centric software-as-a-service (SaaS) and platform-as-a-service (PaaS) solutions as the foundation. This platform is bolstered by cloud and software related solutions and AI and system solutions to deliver total solution to the customers and increase customer stickiness.
  • Baijiayun has successfully expanded its service scope from audio and video SaaS /PaaS services focused on the education sector to a wide range of additional industries, including finance, medical services, automotive, and IT.
  • Expansion into new vertical markets and uses cases has driven the explosive business growth. The total number of customers of BaiJiaYun Limited reached 2,830 as of June 30, 2022, representing an increase of 17.7% compared with June 30, 2021. 
  • For BaiJiaYun Limited, in FY 2022, the total number of user visits to  live-streaming large-class courses reached 70.1 million, the total duration of such live streaming courses exceeded 4.3 million hours, and the cumulative viewing time of such live streaming courses was 70.6 million hours, representing a year-over-year increase of 21.6%, 12.7%, and 24.3%, respectively. 

Mr. Yi Ma, president of the Company, added, “From our inception in 2017, we have delivered standardized and customized solutions to 2,830 customers of all sizes and across industries through June 30, 2022. Our deep understanding of digital transformation in various verticals and our superb track record of delivering reliable, high-quality video experiences to customers have enabled us to establish a foothold in important new massive markets, including financial services and public education. To meet the demands of these customers for security and data privacy, we have increased the contribution of our private cloud solutions and AI embedded in hardware components, both of which have a higher delivery cost and compressed our margins in FY 2022. Over time, we believe that this strategic investment will provide us with a first-mover advantage and enable us to earn attractive returns as an industry leader.

“Our one-stop vertically integrated approach as a comprehensive video technology solutions provider will enhance our value propositions to our customers in solving their pain points in video technology applications, speeding deployments, reducing costs, and improving efficiency and scalability through intelligent automation.”

Fiscal Year 2022 Financial Results of BaiJiaYun Limited

Revenues

Total revenues were $68.6 million in FY 2022, representing an increase of 65.5% from $41.4 million in FY2021, primarily due to acquisition of new customers and expansion of solutions and services offerings.

BaiJiaYun Limited breaks down its total revenues into three main categories: 

  • SaaS/PaaS solutions 
  • Cloud-related services
  • AI solution services

The increase in total revenues was due to 1) a 46.8% increase in the revenues from SaaS/PaaS solutions to $31.3 million in FY 2022 from $21.3 million in FY 2021 due to an increased number of customers and new vertical markets, 2) a surge in customized platform development services from nil in FY 2021 to $10.3 million in FY 2022, and 3) a 43.7% increase in the revenues from AI solution services to $25.1 million in FY 2022 from $17.5 million in FY 2021 resulting from increasing customer demand to integrate AI-enabled devices and applications with real-time communications solutions.

Cost of Revenues

Cost of revenues was $50.2 million in FY 2022, a significant increase compared to $22.9 million recorded in FY 2021, primarily due to a significant increase in AI solutions cost and software development and customization costs associated with the growth of private cloud-related services and AI solution services, along with the increase in SMS cost. 

Gross Profit and Gross Margin

Gross profit remained stable at $18.5 million and $18.4 million in FY 2021 and FY 2022, respectively. Gross profit margin decreased from 44.7% in FY 2021 to 26.9% in FY 2022, primarily due to 1) the introduction of customized platform development services, which had a relatively lower profit margin, 2) the decrease in gross profit margin of AI solution services from 29.5% in FY 2021 to 23.9% in FY 2022 as hardware products were purchased and integrated into AI and system solutions projects, and 3) an increase in the percentage of revenues contributed by SMS solutions, which has a relatively low gross profit margin.

Operating Expenses

Total operating expenses increased significantly to $35.2 million in FY 2022 from $16.1 million in FY 2021. 

  • Selling and marketing (S&M) expenses were $7.4 million in FY 2022, representing an increase of 12.8% from $6.5 million in FY 2021. S&M expenses included $1.0 million of share-based compensation expenses in FY 2022 to incentivize its sales and marketing personnel as compared to nil in FY 2021. General staff compensation for sales and marketing personnel increased from $3.8 million in FY 2021 to $4.5 million in FY 2022 as a result of the expansion of its sale team to accommodate business growth. As a percentage of total revenues, the sales and marketing expenses decreased from 15.8% in FY 2021 to 10.8% in FY 2022.
  • General and administrative (G&A) increased significantly to $14.8 million in FY 2022 from $3.7 million in FY 2021. G&A expenses included $2.0 million of share-based compensation expenses to our management and employees in recognition of their continued services as compared to nil in the prior fiscal year. BaiJiaYun Limited recorded bad debt expenses of $7.8 million in FY 2022 versus $0.6 million in FY 2021. The bad debt expenses were a result of increasing accounts receivables due to the negative impacts from China’s restrictive zero-Covid policy in 2022 and entry into market segments where customers often face payment delays. BaiJiaYun Limited remains optimistic that most of these receivables will eventually be collected as business practices normalize now that COVID restrictions are being lifted in China.
  • Research and development (R&D) expenses increased significantly to $13.0 million in FY 2022 from $5.8 million in FY 2021. R&D expenses included $6.3 million of share-based compensation expenses to motivate its R&D personnel as compared to nil in FY 2021. BaiJiaYun Limited expects that share-based compensation expenses will move to a moderate level in the future following the completion of the going-public transaction.

Operating Income/(Loss)

Operating loss was $16.8 million in FY 2022 as compared to operating income of $2.4 million in FY 2021. The operating margin decreased from 5.8% in FY 2021 to (24.5%) in FY 2022, reflecting the decrease in gross margin, and increases in share-based compensation expenses and bad debt expenses.

Income Tax Benefits/(Expenses)

Income tax benefits were $1.6 million in FY 2022 as compared to income tax expenses of $0.3 million in FY 2021.

Net Income/(Loss)

Net loss was $12.6 million in FY 2022 as compared to net income of $3.6 million in FY 2021.

Non-GAAP net loss was $1.7 million in FY 2022 compared to non-GAAP net income of $3.7 million in FY 2021.

Basic and diluted loss per share was $0.38 in FY 2022, compared to $0.04 in FY 2021.

Financial Outlook for the Fiscal Year 2023 of BaiJiaYun Limited 

Based on currently available information, BaiJiaYun Limited expects total revenues for the fiscal year ending June 30, 2023 to be between $90 million and $103 million, and expects to return to profitability under non-GAAP measures with non-GAAP net income of between $5 and $7 million. This outlook reflects the current and preliminary views of BaiJiaYun Limited on the market and operational conditions, and is subject to various changes and uncertainties, including but not limited to the impact of the COVID-19 pandemic.

Use of Non-GAAP Financial Measures of BaiJiaYun Limited

BaiJiaYun Limited has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), including non-GAAP net income/(loss) and non-GAAP adjusted EBITDA. BaiJiaYun Limited uses these non-GAAP financial measures internally in analyzing its financial results and for financial and operational decision-making purposes. BaiJiaYun Limited believes that such non-GAAP financial measures provide useful information to investors and others about its operating results, enhance the overall understanding of its past performance and future prospects, and allow for greater visibility with respect to key metrics used by its management in its financial and operational decision-making.

Non-GAAP financial measures are not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the consolidated financial statements of BaiJiaYun Limited prepared in accordance with GAAP. Non-GAAP financial measures presented here may not be comparable to similarly titled measures presented by other companies. Other companies may calculate similarly titled measures differently, limiting their usefulness as comparative measures to the data of BaiJiaYun Limited. A reconciliation of the historical non-GAAP financial measures to the most directly comparable GAAP measures has been provided in the table captioned “Reconciliation of GAAP to Non-GAAP Measures” included at the end of this press release, and investors are encouraged to review the reconciliation.

Definitions of the non-GAAP financial measures of BaiJiaYun Limited included in this press release are presented below.

Non-GAAP Net Income/(Loss)

BaiJiaYun Limited defines non-GAAP net income/(loss) as net income/(loss) adjusted to exclude share-based compensation expenses and reverse acquisition related expenses.

Non-GAAP Adjusted EBITDA

BaiJiaYun Limited defines non-GAAP adjusted EBITDA as net income/(loss) before interest income, income tax benefits/(expenses), depreciation and amortization expenses, exchange gain/(loss), investment income/(loss), gain/(loss) from equity method investments, other income, net and amortization of internally developed software, and adjusted to exclude the effects of share-based compensation expenses and reverse acquisition related expenses.

Change of Fiscal Year End and Auditor  The board of directors of the Company approved a change of fiscal year end from December 31 to June 30 upon completion of the transaction between BaiJiaYun Limited and Fuwei Films (Holdings) Co., Ltd. On January 12, 2023, the Company appointed MaloneBailey, LLP (“MaloneBailey”) as its independent registered public accounting firm for the fiscal year ending June 30, 2023. The appointment of MaloneBailey was made after a careful and thorough evaluation process, and was approved by the board and its audit committee. MaloneBailey succeeds Shandong Haoxin Certified Public Accountants Co., Ltd. (“Shandong Haoxin”), the Company’s previous independent registered public accounting firm. The Company’s decision to change its auditor was not the result of any disagreement between the Company and Shandong Haoxin on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure. The Company is working closely with Shandong Haoxin and MaloneBailey to ensure a seamless transition.

Safe Harbor Statement

This press release contains certain “forward-looking statements.” These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the parties’ perspectives and expectations, are forward-looking statements. The words “will, ” “expect, ” “believe, ” “estimate, ” “intend, ” “plan” and similar expressions indicate forward-looking statements.

Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties, and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. The forward-looking information provided herein represents the Company’s estimates as of the date of this press release, and subsequent events and developments may cause the Company’s estimates to change.

The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.

A further list and description of risks and uncertainties can be found in the documents that the Company has filed or furnished or may file or furnish with the U.S. Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

About Baijiayun Group Ltd 

Baijiayun is a video-centric technology solution provider with core expertise in SaaS/PaaS solutions. Baijiayun is committed to delivering reliable, high-quality video experiences across devices and localities and has grown rapidly since the inception in 2017. Premised on its industry-leading video-centric technologies, Baijiayun offers a wealth of video-centric technology solutions including Video SaaS/PaaS, Video Cloud and Software, and Video AI and System Solutions. Baijiayun is catered to the evolving communications and collaboration needs of enterprises of all sizes and industries, which makes Baijiayun a one-stop video-centric technology solution provider.

The following financial statements are derived from Form-20 F to be filed with US Securities and Exchange Commission (SEC) by the Company. 

 BAIJIAYUN LIMITED
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)
(All amounts in US$ thousands, except for share and per share data)

For the Years Ended June 30,

2022

2021

Revenues

$

68,600

$

41,449

Cost of revenues

(50,168)

(22,921)

Gross profit

18,432

18,528

Operating expenses

Selling and marketing expenses

(7,379)

(6,539)

General and administrative expenses

(14,781)

(3,746)

Research and development expenses

(13,048)

(5,806)

Total operating expenses

(35,208)

(16,091)

(Loss) income from operations

(16,776)

2,437

Interest income, net

51

316

Investment income

768

777

Gain (loss) from equity method investments

581

(4)

Other income, net

1,118

465

(Loss) Income Before Income Taxes

(14,258)

3,991

Income tax benefit/(expenses)

1,638

(342)

Net (Loss) Income

(12,620)

3,649

Less: Net income (loss) attributable to non-controlling interests

195

192

Net (Loss) Income attributable to BaiJiaYun Limited

(12,815)

3,457

Accretion of convertible redeemable preferred shares

(3,865)

(3,029)

Deemed dividends to convertible redeemable preferred shareholders

(2,085)

Net income attributable to BaiJiaYun Limited’s preferred shareholders

Net (Loss) attributable to BaiJiaYun Limited’s ordinary shareholders

$

(16,680)

$

(1,657)

Net (Loss) Income

$

(12,620)

$

3,649

Other comprehensive (Loss) Income

Foreign currency translation adjustments

(294)

(334)

Comprehensive (Loss) Income

(12,914)

3,315

Less: Comprehensive income (loss) attributable to non-controlling interests

195

192

Comprehensive (loss) income available to BaiJiaYun Limited

(13,109)

3,123

Accretion of convertible redeemable preferred shares

(3,865)

(3,030)

Deemed dividends to convertible redeemable preferred shareholders

(2,085)

Net income attributable to BaiJiaYun Limited’s preferred shareholders

Comprehensive (loss) income attributable to BaiJiaYun Limited’s ordinary shareholders

$

(16,974)

$

(1,991)

Weighted average number of ordinary shares outstanding used in computing (loss) earnings per share

Basic and Diluted

44,069,300

41,204,699

(Loss) earnings per share

Basic and Diluted

$

(0.38)

$

(0.04)

 BAIJIAYUN LIMITED
CONSOLIDATED BALANCE SHEETS
(All amounts in US$ thousands, except for share and per share data)

As of June 30,

2022

2021

ASSETS

Current assets

Cash and cash equivalents

$

16,603

$

48,295

Restricted cash

8,376

8,865

Short-term investments

7,855

7,788

Notes receivable

108

Accounts receivable, net

22,522

9,057

Accounts receivable – related party

96

Prepayments

4,008

967

Prepayments – related party

314

329

Inventories

1,832

569

Deferred contract costs

10,024

2,611

Due from related parties

90

564

Prepaid expenses and other current assets, net

3,105

2,095

Total current assets

74,933

81,140

Property and equipment, net

585

367

Intangible assets, net

3,345

554

Operating lease right of use assets

1,328

1,258

Deferred tax assets

2,194

176

Long-term deposits

243

Long-term investments

25,012

795

Goodwill

1,145

Other non-current assets

366

348

Total non-current assets

33,975

3,741

TOTAL ASSETS

$

108,908

$

84,881

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT

Current liabilities

Deposit payable

$

$

11,616

Short-term borrowing

149

Accounts and notes payable

23,280

8,356

Advance from customers

5,906

5,380

Advance from customers – related parties

269

1,706

Income tax payable

417

21

Deferred revenue

1,001

251

Deferred revenue – related party

64

181

Due to related parties

12,993

488

Operating lease liabilities, current

625

575

Accrued expenses and other liabilities

4,599

4,852

Total current liabilities

49,303

33,426

Deferred tax liabilities

210

Operating lease liabilities, noncurrent

551

628

Total Liabilities

50,064

34,054

Mezzanine equity

Series Seed convertible redeemable preferred shares (par value $0.0001 per share, 4,675,347 shares authorized, issued
and outstanding as of June 30, 2022 and 2021, respectively)

1,078

1,119

Series A convertible redeemable preferred shares (par value $0.0001 per share, 5,205,637 shares authorized, issued
and outstanding as of June 30, 2022 and 2021, respectively)

3,136

3,078

Series A-1 convertible redeemable preferred shares (par value $0.0001 per share, 5,202,768 shares authorized, issued
and outstanding as of June 30, 2022 and 2021, respectively)

6,592

6,500

Series A-2 convertible redeemable preferred shares (par value $0.0001 per share, 3,540,046 shares authorized, issued
and outstanding as of June 30, 2022 and 2021, respectively)

4,630

4,514

Series A-3 convertible redeemable preferred shares (par value $0.0001 per share, 3,789,358 shares authorized, issued
and outstanding as of June 30, 2022 and 2021, respectively)

4,843

4,715

Series B convertible redeemable preferred shares (par value $0.0001 per share, 11,047,269 shares authorized, issued
and outstanding as of June 30, 2022 and 2021, respectively)

23,677

23,076

Series B+ convertible redeemable preferred shares (par value $0.0001 per share, 5,424,746 shares authorized, issued
and outstanding as of June 30, 2022 and 2021, respectively)

12,708

12,316

Series C convertible redeemable preferred shares (par value $0.0001 per share, 2,419,909 shares and nil shares authorized,
issued and outstanding as of June 30, 2022 and 2021, respectively)

12,206

Total Mezzanine Equity

68,870

55,318

Shareholders’ deficit

Ordinary shares (par value $0.0001 per share, 458,694,920 shares authorized, 44,069,300 shares issued and outstanding
as of June 30, 2022 and 2021, respectively)

4

4

Additional paid-in capital

5,657

Statutory reserve

919

18

Accumulated deficit

(18,411)

(4,695)

Accumulated other comprehensive loss

(276)

(67)

Total shareholders’ deficit attributable to BaiJiaYun Limited

(12,107)

(4,740)

Non-controlling interests

2,081

250

Total shareholders’ deficit

(10,026)

(4,490)

TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT

$

108,908

$

84,882

BAIJIAYUN LIMITED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(All amounts in US$ thousands)

For the Years Ended June 30,

2022

2021

Cash Flows From Operating Activities:

Net (loss) income

$

(12,620)

$

3,649

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

Depreciation and amortization expenses

347

128

Amortization of operating lease right of use assets

621

583

Provision for doubtful accounts

7,785

631

Deferred income tax expenses

(2,116)

325

Deemed dividends from disposal of a subsidiary

113

Investment income on short-term investments

(768)

(778)

Gain (loss) from equity method investments

(581)

4

Share-based compensation

9,522

Changes in operating assets and liabilities:

Accounts receivable, net

(20,343)

(6,777)

Accounts receivable, net – related party

(99)

Notes receivable

(68)

Prepayments

(3,173)

(221)

Prepayments – related party

3

3

Inventories

(893)

1,130

Deferred contract costs

(7,789)

(2,461)

Due from related parties

231

(388)

Prepaid expenses and other current assets, net

(3,502)

(697)

Long-term deposits

243

(47)

Other non-current assets

(32)

Accounts and notes payable

15,761

6,657

Accounts and notes payable – related parties

Advance from customers

696

(936)

Advance from customers – related parties

(1,428)

1,657

Income tax payable

411

21

Deferred revenue

788

122

Deferred revenue – related party

(114)

169

Operating lease liabilities

(723)

(599)

Accrued expenses and other liabilities

18

2,541

Net cash provided by (used in) operating activities

(17,823)

4,829

Cash Flows From Investing Activities

Acquisition of property, plant and equipment

(544)

(250)

Capitalization of software development cost

(1,467)

(540)

Acquisition of long-term investments

(25,938)

(741)

Purchases of short-term investments

(172,619)

(281,980)

Redemption of short-term investments

173,027

293,337

Business combinations, net of cash acquired

25

Net cash provided by (used in) investing activities

(27,516)

9,826

BAIJIAYUN LIMITED
CONSOLIDATED STATEMENTS OF CASH FLOWS
(All amounts in US$ thousands)

For the Years Ended June 30,

2022

2021

Cash Flows From Financing Activities:

Deposits received from a Series C preferred shareholder

11,326

Return of deposits received from a Series C preferred shareholder

(11,820)

Payment of deferred offering costs

(98)

Contribution from the non-controlling shareholders

303

Proceeds from issuance of Series B and Series B+ convertible redeemable preferred shares

28,029

Issuance cost in connection with issuance of Series B and Series B+ convertible redeemable
preferred shares

(303)

Proceeds from issuance of Series C convertible redeemable preferred shares

11,807

Loans from related parties

15,049

79

Repayment to a related party

(2,071)

Proceeds from short-term borrowing

155

Net cash provided by financing activities

13,120

39,336

Effect of exchange rate changes on cash, cash equivalents and restricted cash

39

2,152

Net increase (decrease) in cash, cash equivalents and restricted cash

(32,181)

56,144

Cash, cash equivalents and restricted cash at beginning of the year

57,160

1,016

Cash, cash equivalents and restricted cash at end of the year

$

24,979

$

57,160

Supplemental Cash Flow Information

Cash paid for interest expense

$

417

$

78

Cash paid for income tax

53

812

Non-cash Operating, Investing and Financing activities

Operating lease right of use assets obtained in exchange for operating lease liabilities

$

739

$

953

Remeasurement of operating lease liabilities and right of use assets due to lease
modification

1

Accretion of convertible redeemable preferred shares

3,865

3,030

Receivables from related parties settled with payables to related parties

240

Deemed dividends to convertible redeemable preferred shareholders

2,085

Contribution from preferred shareholders in connection with modification of interest rate
in the event of redemption

102

Issuance of shares in exchange for acquisition of equity interest in controlling subsidiaries

3,332

Investment in an equity investee through borrowing from a related party

378

 BAIJIAYUN LIMITED
RECONCILIATION OF GAAP TO NON-GAAP MEASURES
(All amounts in US$ thousands)

For the Years Ended June 30,

2022

2021

Revenues

$

68,600

$

41,449

Cost of revenues

(50,169)

(22,922)

Total operating expenses

(35,208)

(16,091)

(Loss) income from operations

(16,777)

2,436

(Loss) income before income taxes

(14,258)

3,991

Income tax benefit/(expenses)

1,637

(342)

Net (Loss) Income per GAAP

(12,621)

3,649

Interest income

51

316

Income tax benefit/(expenses)

1,637

(342)

Depreciation and amortization expenses

347

128

EBITDA per GAAP

(13,962)

3,803

Cost of revenues – share-based compensation (SBC)

247

Selling and marketing expenses – SBC

993

General and administrative expenses – SBC

1,977

Research and development expenses – SBC

6,305

Total share-based compensation expense

9,522

Reverse acquisition related expense

1,417

Non-GAAP Net Income

(1,682)

3,649

Exchange gain or loss

Investment income /(loss)

768

778

Gain (loss) from equity method investments

581

(4)

Other income, net

1,118

466

Amortization of internally developed software

Non-GAAP Adjusted EBITDA

(5,490)

2,563

Investor / Media Contact:
Crocker Coulson 
CEO, AUM Media, Inc.
(646) 652 7185 
crocker.coulson@aummedia.org

Company Contact: 
Yong Fang 
CFO, Baijiayun Group Ltd
(267) 939 5080
fangyong@baijiayun.com

[1] Non-GAAP net income/(loss) and non-GAAP adjusted EBITDA are non-GAAP financial measures. See section entitled “Use of Non-GAAP Financial Measures” for information on how BaiJiaYun Limited defines and calculates its non-GAAP financial measures. A reconciliation of such non-GAAP financial measures to the most directly comparable GAAP measures is set forth at the end of this press release.

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eQ Technologic Joins AWS Partner Network

COSTA MESA, Calif., Jan. 20, 2023 /PRNewswire/ — eQ Technologic, the provider of eQube®-DaaS, the powerful low/no-code data integration and analytics platform, is proud to announce it has joined the Amazon Web Services (AWS) Partner Network (APN).

eQ Technologic Joins AWS Partner Network
eQ Technologic Joins AWS Partner Network

The APN is a global community of AWS Partners leveraging AWS to build innovative software solutions and services. AWS offers technical support and expertise to its Partners, along with a wider reach that allows them to grow their customer base.

The AWS Partner designation status is a testament to eQ’s customer-centric business outcomes driven approach that aligns with the AWS Well-Architected Best Practices, prioritizing all its six pillars. eQ Technologic’s platform, using AWS services like EC2, S3, RDS, SNS, ACM, KMS, and more, provides a complete cloud services and cloud management portfolio that creates secure, rapid, and flexible access to the cloud.

Dinesh Khaladkar, President & CEO of eQ Technologic said, “We are very excited to join the AWS Partner Network, as it is the perfect place for us to substantially extend the reach of eQube®-DaaS. With this, in addition to providing game changing business outcomes-based data fabric solutions to large customers globally, we will reach more small and medium-sized companies. Our Data Fabric solutions will become more cost effective and accessible to anyone. By joining the APN, we are on an accelerated path to democratize digital transformation.”

Sanjeev Tamboli, the CTO added, “We are thrilled to join the AWS Partner Network. AWS Partner status underscores our ability to provide scalable and managed cloud deployments, without compromising on security best practices. By leveraging AWS, eQ will be able to reach a wider audience and allow customers to effortlessly integrate cloud based and on-premises applications.”

Globally, businesses are increasingly moving towards software solutions and services that can – without compromising on security – rapidly and efficiently address their business needs to accelerate their digital transformation. eQube®-DaaS, a leading integration and analytics platform, helps its customers accelerate their Digital Transformation by establishing a data fabric connecting enterprise-wide data, applications, and devices. Working with AWS consolidates eQ’s objectives: empowering businesses through scalable and robust integration and analytics solutions; creating ease of access to business insights for digital transformation; and creating valuable and meaningful impact.

About eQ Technologic

eQ Technologic, Inc. (‘eQ’) is a trusted provider of the eQube®-DaaS (Data as a Service) platform that delivers a highly scalable, resilient, and secure Data Fabric for its Customers. 

eQube®-DaaS is a powerful Low/No-Code Data Integration and Analytics platform. It establishes a Digital Backbone connecting enterprise-wide data, applications, and devices. This creates a ‘Data Fabric’ which puts the power of analytics in the hands of end users, leading to Actionable Insight. eQube®-DaaS platform-based solutions result in substantial productivity gain.

eQube® platform is flexible, robust, resilient, scalable, and secure with an overall lower total cost of ownership. The enterprise platform is now accessible through eQube®-Cloud, a game changer that further democratizes access to powerful data integration and analytics solutions, allowing organizations to embark on their Digital Transformation journeys.

Visit https://www.1eQ.com for more information on the eQube®-DaaS platform.

Source: eQ Technologic, Inc.

iClick Interactive Asia Group Limited Announces Engagement of Financial Advisor and Legal Counsel to Evaluate the Proposal


HONG KONG, Jan. 20, 2023 /PRNewswire/ — iClick Interactive Asia Group Limited (“iClick” or the “Company”) (NASDAQ: ICLK), a leading enterprise and marketing cloud platform in China that empowers worldwide brands with full-stack consumer lifecycle solutions, announced today that the special committee of the Company’s board of directors (the “Special Committee”) has engaged Houlihan Lokey (China) Limited (“Houlihan Lokey“) as its financial advisor and Cleary Gottlieb Steen & Hamilton LLP as its U.S. legal counsel to assist in its evaluation of the previously-announced preliminary non-binding proposal dated December 20, 2022 (the “Proposal”) from Igomax Inc., Bubinga Holdings Limited and Rise Chain Investment Limited.

The Special Committee cautions the Company’s shareholders and others considering trading the Company’s securities that the Special Committee is still at the preliminary stage of reviewing and evaluating the Proposal and has not made any decision with respect to the Company’s response to the Proposal. There can be no assurance that any definitive offer will be made, that any definitive agreement will be executed relating to the Proposal or that the Proposal or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to the Proposal or any other transaction, except as required under applicable law.

About iClick Interactive Asia Group Limited

Founded in 2009, iClick Interactive Asia Group Limited (NASDAQ: ICLK) is a leading enterprise and marketing cloud platform in China. iClick’s mission is to empower worldwide brands to unlock the enormous market potential of smart retail. With its leading proprietary technologies, iClick’s full suite of data-driven solutions helps brands drive significant business growth and profitability throughout the full consumer lifecycle. Headquartered in Hong Kong, iClick currently operates in eleven locations across Asia and Europe. For more information, please visit https://ir.i-click.com

Safe Harbor Statement

This announcement contains forward-looking statements, including those related to the Company’s business strategies, operations and financial performance. These statements constitute “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,” “confident” 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. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s fluctuations in growth; its success in its strategic shift away from Marketing Solutions to focus on Enterprise Solutions; its success in implementing its SaaS + X business model; its success in structuring a CRM & Marketing Cloud platform; relative percentage of its gross billing recognized as revenue under the gross and net models; its ability to retain existing clients or attract new ones; its ability to retain content distribution channels and negotiate favourable contractual terms; market competition; market acceptance of online marketing technology solutions and enterprise solutions; effectiveness of its algorithms and data engines; its ability to collect and use data from various sources; ability to integrate and realize synergies from acquisitions, investments or strategic partnership; the duration of the COVID-19 outbreak and its potential impact on the Company’s business and financial performance; fluctuations in foreign exchange rates; general economic conditions in China and other jurisdictions where the Company operates; and the regulatory landscape in China and other jurisdictions where the Company operates. Further information regarding these and other risks is included in the Company’s annual report on Form 20-F and other filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

In the United States:

iClick Interactive Asia Group Limited

Core IR

Lisa Li

Tom Caden

Phone: +86-21-3230-3931 #866

Tel: +1-516-222-2560

E-mail: ir@i-click.com

E-mail: tomc@coreir.com

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Buildmedia merges with The Boundary to create global powerhouse


LONDON, Jan. 19, 2023 /PRNewswire/ — Buildmedia, the Auckland-based creative studio widely considered to be the world leader in off-the-plan interactive real estate sales and marketing solutions, city-scale digital twins and interactive eCommerce VR experiences, has merged with London and New York based pioneering visualisation studio The Boundary.

175 Park Avenue - Render by The Boundary
175 Park Avenue – Render by The Boundary

Founded 20 years ago, Buildmedia are global leaders of interactive real-time solutions across multiple sectors using Epic Games Unreal Engine technology. They have produced numerous groundbreaking experiential solutions including their proprietary interactive display suite solution (Realspace https://buildmedia.com/realspace), and also developed particular expertise for high-fidelity virtual reality city and country-scale digital twins.

The Boundary’s reputation as an expert collective of creative technologists, designers, filmmakers and storytellers has been built working on marketing campaigns for prestigious developments such as the Waldorf Astoria (New York), 175 Park Avenue (New York) and The Whiteleys (London) via the creation of hyper-photorealistic CGI visualizations, animated films and virtual reality experiences.

This strategic merger brings together best-in-class photorealistic creative CGI and VR expertise from The Boundary (https://www.the-boundary.com) with the best-in-class technical capabilities and proprietary IP developed by Buildmedia (https://buildmedia.com/).

The combined business, which will move forward under The Boundary brand umbrella, is uniquely positioned to exceed the expectations of high-end real estate developers, destination marketers, and eCommerce focused brands looking to exploit emerging web3/metaverse opportunities via experiential interactive content and applications.

Epic Games have been long-standing admirers of the Buildmedia team, having contracted them as one of only two Unreal Authorized Service Partners in the Architectural, Engineering and Construction space. Epic often cites Buildmedia’s digital twin of Wellington City as setting the benchmark of what’s possible using their technology.

With financial backing from private equity firm Mobeus, and the injection of a raft of vastly experienced and impressive executive management team members from Buildmedia, the new look business will be investing in R&D across their VR/web3/metaverse services and applications.

The Boundary CEO Tom Wood says “This strategic merger marks the next phase for The Boundary following impressive growth across North America and the EMEA, as we now naturally expand across APAC. We are delighted to welcome the very talented Buildmedia team into the family”.

With over 100 in-house CGI artists and creative technologists operating at the very top end of the visualisation sector, The Boundary is now uniquely positioned to deliver photorealistic end-to-end client services across the emerging web3/metaverse in the Real Estate, Hospitality, eCommerce and digital twin sectors.

Crucially, the enlarged business also provides clients with the assurance of scale and financial stability which are prerequisites for large clients investing significant sums into multi-year metaverse and digital twin projects.

Buildmedia founder and CEO, Gareth Ross commented “We have created a market leading real-time solution over the past 20 years, and the idea of joining The Boundary to deliver our proposition globally was an opportunity we couldn’t resist”.

The transfer of employees and complementary knowledge and IP between New Zealand and The Boundary’s studios will strengthen the client proposition across both hemispheres, while providing all clients with the benefits of a company operating 24/7.

For press enquiries contact:

Chris Mitchell, cmitchell@the-boundary.com, + 44 (0)203 026 6270

Images for use in publication:

https://www.dropbox.com/sh/khko35i6etddsso/AABgVMK4NxpbjgPqRFcFrRt3a?dl=0

About The Boundary

The Boundary is a world leading creative agency which uses computer generated imagery (CGI) to create photorealistic marketing content for developers, destination marketers, and eCommerce brands.

www.the-boundary.com

About Buildmedia

Buildmedia is a creative visualization studio widely considered to be the world leader in city-scale digital twins and off-plan virtual reality interactive real estate sales and marketing solutions using EPIC Games Unreal Engine technology.

www.buildmedia.com

Thales Applauded by Frost & Sullivan for Its Comprehensive Solutions, Services, and Market-leading Position

Thales acquired market leader Gemalto in 2019, and remains the overall market leader in software license and entitlement management.

SAN ANTONIO, Jan. 14, 2023 /PRNewswire/ — Frost & Sullivan has researched the global software license and entitlement management market and, based on its findings, recognizes Thales with the 2022 Global Software License and Entitlement Management Market Leadership Award. The company is the recognized leader in the software monetization field with a team of 450 experts in over 20 countries, including the United States, China, India, Japan, South Korea, and most European states. The Sentinel Platform provides publishers with the flexibility to create licenses and entitlements for any pricing model and allows customizations to meet evolving customer needs.

2022 Global Software License and Entitlement Management Market Leadership Award
2022 Global Software License and Entitlement Management Market Leadership Award

Thales’s Sentinel platform allows the management of licenses and entitlements for products across any direct or indirect distribution channel and the deployment of both popular and custom licensing models, including trial, subscription, perpetual, seat-based, and per-use licensing. It enables customers to track the delivery and activation status of licenses and get notifications for expirations and renewals. The data gathered in a central location can be used to generate up-sale and cross-sale opportunities. Sentinel also helps prevent reproduction, distribution, and unauthorized use of customers’ licenses and product features while allowing publishers to verify customer compliance with license usage terms and conditions of sale. It protects against IP theft through file encryption, code obfuscation, and system-level anti-debugging.

Mukul Krishna, global head of practice, supply chain, and logistics at Frost & Sullivan, observed, “Thales provides the most comprehensive platform and services for license and entitlement management, spanning both software and hardware enforcement with additional focus on helping SaaS companies to scale and grow. 

Thales’s suite of software monetization solutions capitalizes on a sophisticated entitlement management capability that can address any combination of SaaS, on-premises, and device-based requirements. With flexible and scalable solutions, Thales can equally address the needs of those looking for an out-of-the-box experience or a tailored and personalized customer experience. Dedicated SaaS services facilitate ecosystem integration to eliminate costly and cumbersome customizations, while easy-to-use APIs and web services ensure a lower cost of ownership for Thales’s customers, irrespective of their business dynamics.

“In a fiercely competitive and fast-changing market, Thales has shown it can compete at the highest level globally. Its impressive growth strategy and resilience have enabled it to maintain its market leadership,” added Krishna. For its exemplary market performance, Thales earns Frost & Sullivan’s 2022 Market Leadership Award for the global software license and entitlement management industry.

Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features/benefits of the product and the increased ROI it offers customers, which, in turn, raises customer acquisition and overall market penetration potential.

Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Contact:
Tarini Singh
P: +91-9953764546
E: tarini.singh@frost.com

NashTech makes strategic acquisition of North American cloud and data solutions provider, Knoldus

LONDON, Jan. 13, 2023 /PRNewswire/ — NashTech, the global technology solutions business of Nash Squared, has acquired Knoldus as part of its strategic expansion in North America.

Knoldus is a technology advisory and solutions company with over 300 employees based in Canada, the US, Singapore and two development centres in India. It has a strong reputation across Fortune 500 clients for delivering leading–edge digital solutions around data, cloud and machine learning, as well high-performance real-time data systems.

The acquisition significantly strengthens NashTech’s footprint in the world’s largest technology market and adds important expertise in the fast-growing areas of cloud and data. It extends NashTech’s global development centre capability, which includes hubs in Vietnam, Latin America and now India.

Nick Lonsdale, CEO of NashTech, said: “NashTech is all about creating success and value for our clients and Knoldus’ deep expertise and strong track record in cloud and data solutions takes our offer to a new level. We look forward to welcoming the Knoldus team and clients to NashTech at this very exciting time of growth and development.”

Vikas Hazrati, CEO of Knoldus, shared: “We are excited about joining NashTech. As we continue to build on our achievements over the last ten years, Knoldus coming into the NashTech organisation will enable us to offer clients further capability and capacity to support them on their digital transformation journey to success.”

Cuong Nguyen, MD of NashTech, Vietnam commented: “This represents a step change in how we can help and support our clients in delivering technology solutions. They are the perfect fit for us, and I look forward to working with them.”

Bev White, CEO of Nash Squared, added: “This acquisition represents a very significant step forward in NashTech’s footprint in the important North America market. It forms part of the wider Nash Squared strategy of being a global leader in technology solutions and recruitment, supporting our clients with their digital transformation journey with choice and agility and building on the significant existing strength in Europe. I am delighted to welcome Knoldus into the Nash Squared family.”

Full press release

Media Contact:

Michelle Thomas
Nash Squared
michelle.thomas@nashsquared.com
+44 (0) 20 7333 2677

Moment of Service

IFS CEO Darren Roos’s ‘Moment of Service’ explores how its customers across industries execute their servitization strategy and put the Moment of Service at the heart of transformation. 

LONDON, Jan. 12, 2023 /PRNewswire/ — IFS, the global cloud enterprise software company, today announced the launch of ‘Moment of Service’, a book by IFS CEO Darren Roos.

The company shared its pledge to help customers deliver their Moment of Service in February 2021 as part of its global re-brand. Since then, Moment of Service – both as a concept and mantra for IFS – has undergone extensive research and validation with customers, and is proving to resonate deeply across companies of all sizes and across industries.

This is Darren’s first major publication since joining IFS as CEO in April 2018. He approaches the ‘Moment of Service’ by exploring the different considerations companies must make in order to successfully evolve their business and reap the growth benefits. 

‘Moment of Service’ articulates the heart of IFS’s vision: helping its customers deliver their best when it matters most – at the moment of service. The concept is brought to life through detailed customer case studies, with the book highlighting the key components of service transformation from the accelerants of servitization to the need for deep domain expertise, fiscal fairness, the power of evergreen and the role of supply chains in delivering magical Moments of service. The book illustrates the strategies and challenges, as well as successes from companies globally.

The Moment of Service theme has remained central to IFS’s own customer pledge, and was evident at IFS Unleashed – the recent IFS community event held in Miami in October 2022. The global event saw customers take to the stage, demonstrating the continued impact of servitization and how it is central to their business transformation, and sharing how successful business outcomes rely on having their own Moment of Service at the heart.

With contributions from Cheer Pack, Jotun, Panasonic HVAC, ANDRITZ, CimCorp, Munters, Southwest Airlines, TDC, Cubic Transformation Systems, Transport for London, and Rolls-Royce,  “Moment of Service” provides an insight into the changes companies have made or need to make, from technology to operational models and people skills, to deliver a great outcome for their customers.

Darren Roos, Chief Executive Officer, IFS, said: “Moment of Service” ties together the eco-system of delivering “service” to customers.” He continued, “If you accept that there is a Moment of Service, you understand what you need to do to orchestrate your assets, customers, and people to deliver that Moment of Service, and this is very, very compelling.”

Roberto Franchitti, Executive Vice President for Services, Tetra Pak, commented: “Each Tetra Pak package produced is a potential moment of service. That’s more than 190 billion moments of service per year.”

He continued, “We have machines that can produce 11 packs per second. In other words, the output from our customers’ production equipment represents a continuous moment of service, and that continuous moment of service is something that our customers depend on for all business transformation efforts.”

About the Author:

Darren Roos is into his fifth year as CEO of IFS, a post he took in April 2018. His vision spearheaded the transformation of the company internally through modernization and digital transformation and externally with the promise of delivering value to customers and putting them at the heart of the IFS business and product development strategy.

Darren built his career in global software businesses over 20 years. He previously served as President of SAP’s global ERP Cloud business, with prior roles as General Manager of Northern Europe and Chief Operating Officer of EMEA for the company. Darren also was formerly the President of EMEA, APJ, LATAM at Software AG, during which time he served on Software AG’s Group Executive Board. In addition to his IFS role, Darren is a board director at Sitecore and launched Inner Wings, a confidence-building foundation.

Editorial Contributions:

Vinnie Mirchandani and Guy Dunkerley.

Publication Details:

Title: Moment of Service
On Sale: January 12th, 2023
RPR Price: £14.99
Pages: 211
ISBN: 978-1-3999-3481-7
General Availability: Amazon UK *

*General Availability on Amazon US and EU stores over January and February.

IFS Press Contacts:

EUROPE / MEA / APJ: Adam Gillbe
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com
Phone: +44 7775 114 856

NORTH AMERICA / LATAM: Mairi Morgan
IFS, Director of Corporate & Executive Communications
Email: press@ifs.com
Phone: +1 520 396 2155

The following files are available for download:

GetInData Join Forces With Xebia


The partnership empowers both to meet the growing global demand

ATLANTA, Jan. 11, 2023 /PRNewswire/ — Xebia, today proudly announced its partnership with GetInData, a group of 120+ experienced data engineers and consultants. The companies are joining forces to expand their global market reach, with a shared vision of empowering clients to unlock the full business potential of their data.

Founded by former Spotify engineers in Poland in 2014, GetInData has made its name delivering cutting-edge Big Data, Cloud, Analytics, & ML/AI solutions. The company boasts a deep knowledge of data engineering principles and has a proven track record of implementing a wide range of data technologies. Its clients include digital natives like Spotify, Truecaller, Acast, as well as enterprises such as ING bank and telecoms Play and Kcell.

“With GetInData, we welcome some of the brightest minds in data today to our team of highly-specialized data experts,” said Xebia CEO Anand Sahay. He added, “This partnership adds a new level of scale to our global brand and allows us to bring even more high-performing and innovative solutions to the market.”

The partnership is a natural evolution of a long-standing relationship between the two companies. They have collaborated on joint projects, attended and presented at the same conferences, always been active members of the big data community, and have colleagues and open-source contributions in common.

Rob Dielemans, Director, Data at Xebia, added: “I have always admired GetInData, and it’s an equal partnership of two fantastic companies joining teams. The synergy between our organizations is unparalleled, as both companies share a commitment to delivering innovative, high-performing data solutions to clients around the globe.”

GetInData’s co-founder Piotr Krewski was also “thrilled to be joining Xebia” and sees it as a beneficial move that will help both companies expand their opportunities. “We are aligned on core values. Xebia has a mission of authority, and we strive to be an authority for the clients in our field,” he said.

GetInData is also aligned with Xebia’s core value of knowledge sharing, organizing meetups and conferences, such as the Big Data Warsaw Technology Summit, and regularly contributing to open-source. Adam Kawa, co-founder and CEO, GetInData commented, “We are excited to join Xebia as it allows us to accelerate all of our strategic activities. By joining forces, we amplify our strengths and are able to deliver the unique value proposition to companies all over the world willing to be driven by data.”

By merging and pooling knowledge, the companies can effectively work on innovative data projects, share R&D initiatives, and recruit talented people to fine-tune data, cloud, and ML architectures.

As a pioneering IT consultancy company, Xebia regards GetInData as a kindred spirit — one that recognizes how data is an indispensable part of the future of business. “Since our mission is to be seen as an authority, it makes perfect sense that an authority such as GetInData has joined us,” said Dielemans, “we really look forward to working with them.”

By adding the wealth of experience and expertise that GetInData brings to the organization, Xebia significantly expands its footprint in the global data and AI consultancy market. 

This partnership represents a significant milestone for both Xebia and GetInData, as it allows them to leverage their collective knowledge, experience, and expertise to drive innovation and empower their clients to unlock the full potential of their data.

About Xebia

Xebia is an IT Consultancy and Software Development Company that has been creating digital leaders across the globe since 2001. With offices on every continent, we help the top 250 companies worldwide embrace innovation, adopt the latest technologies, and implement the most successful business models. To meet every digital demand, Xebia is organized into multiple service lines. These are teams with in-depth knowledge and experience in Agile, DevOps, Data & AI, Cloud, Software Development, Security, Quality Assurance, Low Code, & Microsoft Solutions. In addition to high-quality consulting and state-of-the-art software, Xebia Academy offers the training that modern companies need to work better, smarter, and faster. Today, Xebia continues to expand through a buy-and-build strategy. We partner with leading IT companies to gain a greater foothold in the digital space. 

Contact:

Swati S
Corporate Communications Lead
+91-9810616405
swati.srivastava@xebia.com