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PR Newswire

Bigtincan Signs Definitive Agreement to Acquire Brainshark

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Combination of Sales Enablement platform with the leading enterprise Sales Readiness platform creates a complete system to ensure customer-facing teams are "buyer ready" in the all-digital world

WALTHAM, Mass., Aug. 23, 2021 — Bigtincan (ASX:BTH), the global leader in sales enablement automation, announced it has entered into a binding agreement to acquire 100% of Brainshark, Inc. ("Brainshark"). The deal combines two of the leading providers of sales readiness solutions for training, coaching and onboarding, adding enterprise-grade capabilities to create the most complete Sales Enablement Platform in the market.

Combining Brainshark with Bigtincan’s sales enablement platform will be transformative for customers and their customer-facing teams. With the acquisition, Bigtincan adds best-in-class solutions for course authoring, course content creation, 1:1 video coaching with AI-scoring, and readiness scorecards to help customers train, coach, and assess the buyer-readiness of all customer-facing teams including frontline sellers, field marketing, and support.

"Sales professionals, and all customer-facing teams for that matter, need to be 100% ‘buyer-ready’ to guide people to the best decisions when they choose to engage with your brand," said David Keane, CEO and Co-Founder of Bigtincan. "The addition of Brainshark’s Sales Readiness technology to our platform gives our customers the best opportunity to deliver the buying experience of the future and keep their brand’s promise to their buyers."

Along with Brainshark’s sales readiness capabilities, leaders can directly visualize sales training and coaching performance alongside buyer engagement activities and results from CRM systems. When combined with Bigtincan’s robust analytics for sales content usage and buyer engagement, companies can directly measure the impact of customer-facing actions and initiatives on revenue and overall company performance.

"Brainshark has shown innovation in Sales Coaching and Learning. Acquiring Brainshark is a strategic move to position Bigtincan well in the overall Sales Enablement/Readiness market," said Jim Lundy, Founder and CEO, Aragon Research. "Bigtincan offers robust capabilities across sales enablement categories, giving companies the opportunity to shore up their sales enablement end-to-end as their programs evolve and grow."

More than 900 organizations, including many companies from the Fortune 500, rely on Brainshark to onboard, train, and continuously up-skill their customer-facing teams. The acquisition significantly deepens Bigtincan’s vertical market strength in financial services, life sciences, technology and manufacturing with long-tenured customers. The combined company will employ and serve more than 400 employees worldwide.

"The Brainshark team is excited to join forces with Bigtincan. Our experienced team and mature platform for Sales Readiness become critical components to serving our customers’ end-to-end enablement needs. As our customers’ needs expand into sales content management and customer engagement, we can now provide a full suite of solutions that bring to life the Buying Experience of the Future — a vision that both companies share," said Greg Flynn Co-Founder and CEO of Brainshark.

Bigtincan was advised by LionTree Advisors and Brainshark was advised by Sparring Partners Capital.

To learn more about Bigtincan, visit www.bigtincan.com.

About Bigtincan
Bigtincan is helping the world’s leading brands facilitate the buying experience of the future. Everything we offer is designed to be smart, flexible, and easily adapted to unique business processes with highly personalized experiences that people and brands love. We’re on a mission to help companies deliver branded buying experiences that are engaging, personalized, provide value and guide people to the best decisions with confidence. Innovative companies like AT&T, Nike, Guess, Prudential, and Starwood Hotels trust Bigtincan to enable customer-facing teams to intelligently prepare, engage, measure and continually improve the buying experience for their customers. For more information about Bigtincan (ASX: BTH), visit: www.bigtincan.com or follow @bigtincan on Twitter.

About Brainshark
Brainshark’s data-driven readiness platform for sales enablement provides the tools to prepare teams with the knowledge and skills they need to perform at the highest level. With best-of-breed solutions for training and AI-powered coaching, as well as cutting-edge insights into sales performance, customers can ensure their sales reps are always ready to make the most of any selling situation. Customers across the globe rely on Brainshark to get better results from their sales enablement initiatives.

Media Contact
Pam Dearen, VP Marketing Communications & Customer Relations
1-617-981-7557
marketing@bigtincan.com

Logo – https://mma.prnasia.com/media2/1599395/Bigtincan_Logo.jpg?p=medium600  

Related Links :

https://www.bigtincan.com/

PR Newswire

CLPS Incorporation Announces the Completion of Capital Increase Agreement Transaction in MSCT to Ramp Up Cooperation in Global Financial Technology Services Market with MCT

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HONG KONG, Aug. 20, 2021 — CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced that it has completed the previously announced Capital Increase Agreement (the "Agreement") transaction with Minshang Creative Technology Holdings Limited ("MCT", 01632.HK). CLPS, through its wholly-owned subsidiary, Growth Ring Ltd., and MCT now hold 53.33% and 46.67% in MSCT Investment Holdings Limited ("MSCT"), respectively. Through the Agreement, both parties have agreed to develop a next-generation loan trading software, a software as a service (SaaS) solution, and to explore financial technology services market in a global scale.

Upon closing of the transaction, MSCT has started to innovate and streamline the commercial version of its next-generation credit loan trading software, powered with a complete configurable workflow and a high degree of automation. As a result, the software can provide a user with an entire loan lifecycle support for personal installment loan, purchase of consumer credit, mortgage, and hire purchase, among other transactions. The upgraded software is expected to be completed by December 2021. It will be initially launched and marketed in Hong Kong SAR and Southeast Asia by early next year before offering it in Japan and the U.S. markets.

MCT is a company listed on the Hong Kong Stock Exchange with its headquarters located in Hong Kong. Minsheng E-Commerce Holdings (Shenzhen) Co., Ltd., an e-commerce company established in Mainland China, is a controlling shareholder of MCT.

Mr. Raymond Lin, Chief Executive Officer of CLPS, said, "The Company’s investment in MSCT fully opens up strategic cooperation with MCT. Our extensive experience as an IT services provider with a focus on international banks and other financial institutions serves as a foothold in developing financial software products and solutions. Together with MCT, we are excited to jointly explore business opportunities in the global financial technology services market."

Mr. Wu Jiangtao, Chairman and Chief Executive Officer of MCT, said, "We strongly believe that our cooperation with CLPS will yield a broad potential in the global market. CLPS’s highly regarded brand impact combined with our competitive advantage in digital transformation will mutually benefit our business and IT solution capabilities. We are optimistic to achieve greater success in this cooperation going forward."

About CLPS Incorporation

Headquartered in Hong Kong, CLPS Incorporation (the "Company") (Nasdaq: CLPS) is a global leading information technology ("IT") consulting and solutions service provider focusing on the banking, insurance, and financial service sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial service industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong SAR, and their PRC-based IT centers. The Company maintains 18 delivery and/or research & development centers to serve different customers in various geographic locations. Mainland China centers are located in Shanghai, Beijing, Dalian, Tianjin, Baoding, Xi’an, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Hainan. The remaining seven global centers are located in Hong Kong SAR, USA, Japan, Singapore, Malaysia, Australia, and India. For further information regarding the Company, please visit: https://ir.clpsglobal.com/, or follow CLPS on Facebook, LinkedIn, and Twitter.

Forward-Looking Statements

Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include statements with respect to the Company’s beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance. Known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, may cause the actual results and performance of the Company to be materially different from such forward-looking statements. All such statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties related to the Company’s expectations of the Company’s future growth, performance and results of operations, the Company’s ability to capitalize on various commercial, M&A, technology and other related opportunities and initiatives, as well as the risks and uncertainties described in the Company’s most recently filed SEC reports and filings. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC’s Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.

Contact:

CLPS Incorporation
Rhon Galicha
Investor Relations Office 
Phone: +86-182-2192-5378
Email: ir@clpsglobal.com

Related Links :

http://www.clps.com.cn

PR Newswire

Bambuser CEO and CFO comment on the Interim Report for Q2 2021

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STOCKHOLM, Aug. 20, 2021 — Maryam Ghahremani, CEO and Sara Lundell CFO of Bambuser, will comment on the interim report from the second quarter of 2021. The interview will be broadcast today at 15:00 CEST, 9 AM EDT, held in English and last for approx 15 minutes.

Link to the broadcast: https://bambuser.com/ir/q2-2021

Contact information

Corporate Communications, Bambuser AB | +46 8 400 160 00 | ir@bambuser.com

Certified Adviser

Erik Penser Bank AB | +46 8 463 83 00 | certifiedadviser@penser.se

About Bambuser AB

Bambuser is a software company specializing in interactive live video streaming. The Company’s primary product, Live Video Shopping, is a cloud-based software solution that is used by customers such as global e-commerce and retail businesses to host live shopping experiences on websites, mobile apps and social media. Bambuser was founded in 2007 and has its headquarters in Stockholm.

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Bambuser’s Nomination Committee proposes that Sonia Gardner and Jørgen Madsen Lindemann be elected as new board members – Alexander Mcintyre has announced his intention to resign from the board

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STOCKHOLM, Aug. 20, 2021 — To further strengthen the board of directors competence the Nomination Committee of Bambuser proposes that Sonia Gardner and Jørgen Madsen Lindemann, respectively, be elected as new board members of Bambuser. At the same time, Alexander Mcintyre has announced that he intends to resign from the board of directors.

In light of the Nomination Committee’s proposal, the board of directors intends to convene an Extraordinary General Meeting whereas the notice will be published separately. Alexander Mcintyre will leave the board of directors in connection to the Extraordinary General Meeting.

"The board of directors thanks Alexander for his efforts and contributions to the Company over recent years. We wish Alexander every success in the future," said Joel Citron, Chairman of Bambuser’s board of directors.

Sonia Gardner (born 1962) is President, Managing Partner and Co-Founder of Avenue Capital Group, a global alternative investment manager with over $11 billion in assets under management. She is the Partner in charge of managing the firm, which she co-founded with her brother in 1995. Sonia previously served as Chair of the Global Board of Directors of 100 Women in Finance, and continues to serve as Chairman Emeritus. She currently serves as a member on the Client Advisory Board of Citi Private Bank. Ms. Gardner is the United Nations Capital Development Fund (UNCDF) Goodwill Ambassador for Gender Equality in Access to Finance. Her focus is advocating for ways to give women access to economic resources to start and grow businesses, lift their families out of poverty, and help achieve the U.N.’s Sustainable Development Goals. Sonia Gardner is independent in relation to the Company and its management as well as to the Company’s major shareholders.

Jørgen Madsen Lindemann (born 1966) has an upper secondary education from Gentofte Gymnasium. Jørgen Madsen Lindemann is currently a board member of Miinto Group and WaterBear Network. He has previously held roles such as the President and Chief Executive Officer of Modern Times Group MTG AB and board member of Zalando. Jørgen Madsen Lindemann is independent in relation to the company and its management and dependent in relation to the company’s major shareholders.

The Nomination Committee assesses that Sonia Gardner and Jørgen Madsen Lindemann have competence and backgrounds that are well suited for the work of the company’s board of directors and that the election of Sonia Gardner and Jørgen Madsen Lindemann is well in line with the discussions held within the Nomination Committee regarding competence development and gender equality.

PR Newswire

Cloopen Group Holding Limited (NYSE: RAAS) Announces Financial Results for Second Quarter 2021

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BEIJING, Aug. 19, 2021 — The thriving stay-at-home economy that emerged in 2020 unleashed the potential of the cloud-based communications market. Rising alongside the ongoing improvement of the communications infrastructure, the market is entering a golden age. The cloud-based communications market in China will continue to grow rapidly in the coming years and is expected to exceed RMB100 billion by 2024, according to a report from China Investment Corporation (CIC). 


With the sector’s anticipated growth, industry players are fulfilling expectations by continually delivering notable performances. Recently, Cloopen Group Holding Limited (NYSE: RAAS) ("Cloopen" or the "Company") announced its financial results for the second quarter of 2021. According to the report, the Company’s revenues for the second quarter were RMB274 million, representing a 47.9% increase year-over-year or a 33.9% increase quarter-over-quarter. Its core CC (Cloud-based Contact Center) solutions business performed especially well, achieving revenues of RMB108 million, an increase of 105.1% year-over-year. In terms of profitability, the Company’s gross margin increased to 43.1%. Adjusted EBITDA loss was RMB29.966 million, while adjusted EBITDA loss margin (as a percentage of revenue) decreased markedly to 10.9%, a nearly 6% decrease year-over-year and an 18% decrease quarter-over-quarter.

Three-month Period Ended, 

June 30, 

June 30, 

June 30, 

2020

2021

2021

RMB 

RMB 

USD 

(in thousands, except for per share data) 

Revenues

185,255

273,905

42,422

Cost of revenues

(113,856)

(155,805)

(24,131)

Gross profit 

71,399

118,100

18,291

Operating expenses: 

Research and development expenses

(36,644)

(61,970)

(9,598)

Sales and marketing expenses

(46,643)

(72,842)

(11,282)

General and administrative expenses

(46,240)

(79,664)

(12,338)

Total operating expenses 

(129,527)

(214,476)

(33,218)

Operating loss 

(58,128)

(96,376)

(14,927)

Other income (expense):

Interest expenses

(4,141)

(119)

(18)

Interest income

479

1,265

196

Loss from disposal of subsidiaries, net

(335)

(4)

(1)

Share of income (loss) of equity method investments

(1,021)

8

1

Change in fair value of warrant liabilities

722

—

—

Impairment loss of long-term investments

—

(15,667)

(2,427)

Foreign currency exchange gains (losses), net

(270)

4,028

624

Loss before income taxes 

(62,694)

(106,865)

(16,552)

Income tax benefit

529

1,232

191

Net loss 

(62,165)

(105,633)

(16,361)

Cloopen optimized revenue structure by increasing proportion of businesses with higher gross margins

Cloopen, began to provide cloud-based communications solutions in 2014, went public in the US in February of this year, becoming the first Chinese SaaS company to do so. After over a decade of development, the Company’s businesses now include communications platform as a service (CPaaS)，Cloud-based Contact center (CC) and Cloud-based Unified Communications and Collaboration(UC&C).

In terms of revenue composition, CPaaS revenue reached RMB115 million in the second quarter,maintaining organic growth rate of 13% year-over-year. The high-margin CC and UC businesses contributed more than 50% of total revenue for the first time, and CC solutions contributed significantly to revenue growth. In recent years, the CC solutions market has maintained rapid growth, attracting the attention of the industry’s powerful players.

Against the backdrop of a thriving market, Cloopen delivered positive news regarding its CC solutions business. During the reporting period, the Company’s CC business achieved revenues of RMB108 million, an increase of over 100% year-over-year.

Two factors account for the exceptional performance of the CC business. First, Cloopen’s acquisition of CRM software provider EliteCRM in March of this year and its integration enabled strategic synergies. Second, the Company expanded its CC business by adding CRM and CPaaS products, producing a compound sales effect and further growing market share.

Another part of Cloopen’s revenue composition consists of UC&C solutions, which include IM and CV services. Compared to CPaaS and CC solutions, the UC&C solutions business is smaller in volume, having achieved revenues of RMB49 million in the second quarter, an impressive increase of 74.9%.

In addition to strong revenues, Cloopen’s performance showed laudable profitability. The financial report revealed the Company’s gross margin to be 43.1%, compared to 38.5% in the second quarter of 2020. Cloopen’s improved profitability was primarily driven by an increase in the proportion of the Company’s higher gross margin businesses. According to previous financial reports, the gross margins of Cloopen’s CC and UC&C businesses are considerably higher than that of its CPaaS business. In the second quarter of this year, the proportion of the Company’s higher gross margin businesses surpassed 50% for the first time, boosting the overall gross margin while significantly optimizing the Company’s revenue structure. Meanwhile, the Company’s reduced the red ink considerably, with an adjusted EBITDA loss of RMB29.966 million.

According to Chinese information platform Zhitong Caijing, Cloopen’s second quarter financial report showed overall positive results in its core financial data, once again demonstrating indications of growth.  

Potential for growth in the industry

Cloopen is situated within a thriving industry. As aforementioned, the cloud-based communications industry is expected to become a RMB100 billion market in the near future. The CIC report indicated that the cloud-based communication solutions market increased from RMB16.3 billion in 2015 to RMB35.7 billion in 2019, representing a compound annual growth rate of 21.7%.

The market is expected to maintain strong growth momentum. CIC forecasted that the market is expected to reach RMB100 billion by 2024, with a compound annual growth rate of 23.3% during the 2019 to 2024 period.

Cloopen has the potential for greater growth in this market. The cloud-based communications market consists of three major segments: CPaaS, CC and UC&C. Cloopen boasts a comprehensive product portfolio that covers the three major segments CPaaS, CC and UC&C, enabling the Company to accommodate a multitude of business scenarios and provide customers with versatile solutions.

Cloopen also has a competitive edge due to its technology and customer base. First let’s consider technological advantages and look at Cloopen’s newest product developments as an example. At the World Artificial Intelligence Conference in June 2021 (WAIC 2021), Cloopen debuted Rongxi Robot, which features intelligent voice response systems and outbound solutions, intelligent training capabilities, and AI-assisted customer support. By combining the technologies operating at every level – algorithms at the bottom, AI data in the middle, and AI applications at the top, the Company delivered a comprehensive upgrade of CC solutions that can be applied to the full customer lifecycle.

Next let’s examine Cloopen’s customer base. According to the financial report, the Company had 12,976 active customers as of the end of June this year, with a dollar-based net customer retention rate of around 110%. A large customer base combined with a high retention rate helps provide the Company’s with stable revenues.

Aside from its strong performance, the outlook for the Company’s future development is also promising. In terms of its industry, Cloopen conducts business in a fast-growing industry that has entered a golden age. In terms of its performance, there has been continual evidence of the Company’s growth. One can expect Cloopen to further unlock its growth potential, owing to its dominant position in product offerings, research and development, and customer base.

 

 

PR Newswire

VVDN Technologies Joins NVIDIA Partner Network to Expand Opportunities for Advanced AI-Enabled Camera & Vision Applications

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SAN JOSE, California, Aug. 18, 2021 — VVDN Technologies, a premier electronic product engineering and manufacturing company, announced that it has joined the NVIDIA Partner Network (NPN) as a provider of AI-enabled computer vision solutions powered by the NVIDIA Jetson edge AI platform.

 

 

The NPN program is designed to help partners expand the usage of NVIDIA-based solutions, platforms, and technologies, and provide end customers with a world-class solution and support experience. As part of the NVIDIA Jetson partner ecosystem, VVDN can leverage the powerful GPU-accelerated edge computing capabilities of the NVIDIA Jetson lineup including Jetson AGX Series, Jetson TX2 series, Jetson Xavier NX and Jetson Nano to develop and manufacture next-gen innovative AI/ML based camera and vision solutions for its customers.

NVIDIA Jetson is the leading AI-at-the-edge computing platform with over half a million developers and a strong partner ecosystem. With pre-trained AI models, developer SDKs and support for cloud-native technologies across the full Jetson lineup, manufacturers of intelligent machines and AI developers can build and deploy high-quality, software-defined features on embedded and edge devices targeting robotics, AIoT, smart cities, healthcare, industrial applications, and more. Cloud-native support helps manufacturers and developers implement frequent improvements, improve accuracy, and use the latest features with Jetson-based edge AI devices.

Joining the NPN positions VVDN to provide a host of enhanced services including product engineering, AI/ML algorithm development, as well as manufacturing services to customers/OEMs/System Integrators/ISVs with accelerated time to market. VVDN is offering AI-based vision solutions powered by the NVIDIA Jetson platform, including carrier boards, edge gateways as well as edge AI cameras which are production-ready solutions available for customers.

VVDN’s design and manufacturing capabilities of world-class cameras and vision products includes edge AI boxes, system on modules (SOM) and boards, 360-degree high-end multi-imager cameras, NVRs/DVRs and thermal cameras with video analytics for use in automotive ADAS, traffic safety, security, smart cities, industrial vision, video conferencing, retail applications and more.

Arun Kumar PB, Sr. Director – Vision, VVDN Technologies said: "VVDN’s Vision Business Unit has invested heavily on AI/ML and computer vision algorithms targeting industries including security, smart cities, retail, automotive, medical as well as industrial. Joining the NPN as an NVIDIA Jetson ecosystem partner further helps our efforts as we get access to all the SDKs as well as exposure to new platform introductions. This will help us cater to our customers’ need for more complex AI-enabled applications across the globe."

VVDN possesses strong expertise in Image/ISP Tuning, Video Stitching, Sensor Integration, AI/ML Integration, Video Analytics, Voice Integration and Video Cloud. VVDN’s manufacturing facilities are equipped with state-of-the-art SMT lines, product assembly areas, ISO Class 6 and 8 Clean Room and R&D, Testing and Video labs for Next-gen product innovation.

About VVDN:

VVDN is a leading Product Engineering & Manufacturing company focused on designing & manufacturing end-to-end products across several technology vertical markets (5G, Data Center, Vision, Networking and Wi-Fi, IoT, Cloud & Apps). VVDN’s India HQ is located at Global Innovation Park, Manesar, India and its North America HQ is located in San Jose, CA, USA. VVDN serves global customers across several regions including US, Canada, Europe, India, Vietnam, Korea, and Japan. With more than 6000 employees, VVDN has 10 advanced Product Engineering Centers in India, which are fully equipped to design & test the complete hardware & software required to develop a complete product or solution. VVDN’s 5 Manufacturing facilities are located at Manesar, Gurgaon, India, which includes in-house best-in-class SMT Factory, Molding & Tooling Factory, Product Assembly Factory, Die Casting facility and Product Certifications labs. VVDN’s Engineering & Manufacturing facilities are fully complied to develop & manufacture Enterprise, Consumer, Industrial, and Automotive-grade products.

Visit www.vvdntech.com for more information.

Kunwar Sinha, kunwar.sinha@vvdntech.in  

PR Newswire

Tecnotree Reports Strong Financial Result for H1 of 2021

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HELSINKI, Aug. 16, 2021 — Tecnotree, the global Digital Business Support Systems (BSS) provider, announced its 2021 second quarter and half-year results. With the growth in all the parameters, the company reported an increase of 16% in net sales and a remarkable growth of 60% in the net profit for H1 2021 as compared to H1 of 2020. Looking ahead, Tecnotree expects to leverage the competitive advantage for sustainable long-term growth and capitalize on new opportunities related to 5G & IoT technology.

Consolidated highlights of the half-year result:

  • Net sales increased to EUR 27.9 million with the growth of 16% for the same period in 2020
  • Net income registered an increase of 60% y-o-y with EUR 7.7 million
  • Cash & equivalent’s position continues to get better with an increase of 33% with EUR 10.7 million at the end of H1 2021 as compared to end of 2020
  • Highest in 8 years, Order Book is reported at EUR 55.0 million at the end of H1 2021, a whopping growth of 71% in comparison to the end of 2020
  • The market capitalization almost doubled at the time of this announcement versus end of 2020

Tecnotree CEO, Padma Ravichander, said, "After having demonstrated our resilience in last several quarters and one of the best Q1 performances in the company’s history, we have been able to continue our growth journey in the second quarter. I am pleased with what we could achieve together despite the Covid-19 delta variant challenges in India where we have our largest development center located."

Padma further added, "Tecnotree’s Digital BSS Suite 5 continues to generate healthy excitement across markets, leading to a record order book in the last 8 years. I am confident that our focused approach in 5G, IoT, and AI/ML enabled systems will continue to win the confidence of service providers."

Some of the other notable business achievements in the first half include:

  • Company won Commercial Excellence Supplier Award from MTN
  • MTN Group selected Tecnotree for digital transformation of their operations in five countries in Africa
  • Recognized as a finalist in two categories in the prestigious TM Forum Excellence Awards – ‘Customer Experience & Trust’, and ‘The Human Factor’
  • Met all delivery commitments remotely with its unique zero-touch deployments      
  • Launch of Tecnotree DiWa, a Digital Wallet which is set to reshape and modernize payment methods
  • Tecnotree Moments, an innovative B2B2X commerce platform was introduced which is getting incredible response from the market already.

Being called ‘A well-performing phoenix‘ by Inderes, a leading financial analyst from Finland was the cherry on the top for a great performance.

Contact Tecnotree at marketing@tecnotree.com to know more.
+358 9 804781

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China Finance Online Announces Receipt of Nasdaq Delisting Notice

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BEIJING, Aug. 14, 2021 — China Finance Online Co. Limited ("China Finance Online", or the "Company", "we", "us" or "our") (NASDAQ GS: JRJC), a leading web-based financial services company that provides Chinese individual investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers, today announced that on August 11, 2021, it has received a notice from the Nasdaq Stock Market LLC ("Nasdaq") stating that the Staff has determined that the Company had not been able to provide a satisfactory definitive plan to regain compliance with the $10 million minimum stockholders’ equity requirement for continued listing on the Nasdaq Global Select Market under Nasdaq Listing Rule 5450(b)(1)(A) or sustain such compliance over an extended period of time. As of December 31, 2020, the Company’s shareholders’ equity was approximately $4.6 million. The Company also does not meet the continued listing requirements under alternative standards relating to the market value of listed securities or the total assets or total revenue of the Company. The Staff cited that the Company’s proposed timeframe to regain compliance is beyond the 180-day period available under Nasdaq Listing Rule 5810(c)(2)(B) and that the Company’s history of loss would negatively affect the Company’s ability to regain or sustain compliance. The Staff had determined to seek to delist the Company’s securities from Nasdaq unless the Company requests a hearing before the Nasdaq Hearings Panel (the "Panel") by August 18, 2021.

The Company intends to timely request a hearing before the Panel. Such request will stay any suspension or delisting action by Nasdaq pending the Panel’s decision. There can be no assurance that the Panel will grant the Company’s request for continued listing. If the Panel does not grant the Company’s request for continued listing, its securities will be subject to delisting and the liquidity and marketability of the Company’s American Depositary Shares would be adversely affected.

This announcement is made in compliance with Nasdaq Listing Rule 5810(b), which requires prompt disclosure of receipt of a delisting notification.

About China Finance Online

China Finance Online Co. Limited is a leading web-based financial services company that provides Chinese individual investors with fintech-powered online access to securities trading services, wealth management products, securities investment advisory services, as well as financial database and analytics services to institutional customers.  The Company’s prominent flagship portal site, www.jrj.com, is ranked among the top financial websites in China.  In addition to the web-based securities trading platform, the Company offers basic financial software, information services and securities investment advisory services to retail investors in China.  Through its subsidiary, Shenzhen Genius Information Technology Co. Ltd., the Company provides financial database and analytics to institutional customers including domestic financial, research, academic and regulatory institutions.  China Finance Online also provides brokerage services in Hong Kong.

Safe Harbor Statement

This press release contains forward-looking statements which 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.  The statements contained herein reflect management’s current views with respect to future events and financial performance.  These forward-looking statements are subject to certain risks and uncertainties that could cause the actual results to differ materially from those in the forward-looking statements, all of which are difficult to predict and many of which are beyond the control of the Company.  These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements.  Among other things, this release contains the following forward-looking statements regarding:

  • liquidity and sources of funding, including our ability to continue operating as a going concern;
  • our prospect and our ability to attract new users;
  • our prospect on building a comprehensive wealth management ecosystem through providing a fully-integrated online communication and securities-trading platform;
  • our prospect on stabilization in cash attrition and improvement of our financial position;
  • our initiatives to address customers’ demand for intuitive online investment platforms and alternative investment opportunities; and
  • the market prospect of the business of securities-trading, securities investment advisory and wealth management.

Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which risk factors and uncertainties include, amongst others, substantial doubt about ability to continue as a going concern, the outbreak of COVID-19 or other health epidemics in China or globally, changing customer needs, regulatory environment and market conditions that we are subject to; the uneven condition of the world and Chinese economies that could lead to volatility in the equity markets and affect our operating results in the coming quarters; the impact of the changing conditions of the mainland Chinese stock market, Hong Kong stock market and global financial markets on our future performance; the unpredictability of our strategic transformation and growth of new businesses; the prospect of our margin-related business and the degree to which our implementation of margin account screening and ongoing monitoring will yield successful outcomes; the degree to which our strategic collaborations with partners will yield successful outcomes; the prospects for China’s high-net-worth and middle-class households; the prospects of equipping our customer specialists with new technology, tools and financial knowledge; wavering investor confidence that could impact our business; and possible non-cash goodwill, intangible assets and investment impairments may adversely affect our net income.  Furthermore, we have recurring losses from operation and inability to generate sufficient cash flow to meet our obligation and sustain our operations and face uncertainty as to the operation impact of the COVID-19 outbreak, that raise substantial doubt about our ability to continue as a going concern.  Further information regarding these and other risks is included in the Company’s filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F under "Forward-Looking Information" and "Risk Factors".  The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

For more information, please contact:

China Finance Online
+86-10-8336-3100
ir@jrj.com

Kevin Theiss
Awaken Advisors
(212) 521-4050
kevin@awakenlab.com

Related Links :

http://www.jrj.com

PR Newswire

Fifth Wall Acquisition Corp. I Reminds Stockholders to Vote “FOR” Business Combination with SmartRent at Special Meeting of Stockholders

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Upon Closing, the Combined Company Will Trade on the NYSE under "SMRT" Ticker Symbol

LOS ANGELES, Aug. 13, 2021 — Fifth Wall Acquisition Corp. I (the "Company" or "FWAA"), a special purpose acquisition company, today reminded stockholders to vote "FOR" the business combination with SmartRent.com, Inc. ("SmartRent") at the special meeting of stockholders scheduled for August 23, 2021 (the "Special Meeting"). The Company also noted the pending transfer of the listing of its Class A common stock, par value $0.0001 per share (the "Common Stock"), from the Nasdaq Capital Market ("Nasdaq") to the New York Stock Exchange (the "NYSE") in connection with the anticipated closing of the business combination.

Trading of the Common Stock is expected to begin on the NYSE on August 25, 2021 under the new ticker symbol "SMRT". The last day of trading on the Nasdaq is expected to be on August 24, 2021, following the consummation of the Company’s pending business combination transaction with SmartRent, which is currently expected to occur on August 24, 2021, subject to final stockholder approval at the Special Meeting and satisfaction of other customary closing conditions.

As previously announced, the Company will hold the Special Meeting via live webcast at https://www.cstproxy.com/fifthwall/2021 on August 23, 2021 at 9:00 a.m. Eastern Time for its stockholders of record at the close of business on July 27, 2021 to vote on the proposed business combination, among other things. The definitive proxy statement/prospectus with respect to the business combination, together with a proxy card for voting, has been mailed to the Company’s stockholders. Stockholders are encouraged to attend the Special Meeting and to vote as soon as possible by signing, dating and returning the proxy card enclosed with the definitive proxy statement/prospectus. If you have any questions, please contact Innisfree M&A Incorporated, the Company’s proxy solicitor, at (877) 456-3402.

No action is required by existing Company stockholders with respect to the ticker symbol or exchange listing change.

About Fifth Wall Acquisition Corp. I

Fifth Wall Acquisition Corp. I is a blank check company incorporated for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.

About SmartRent

Founded in 2017, SmartRent is an enterprise smart home and smart building technology platform for property owners, managers and residents. The SmartRent solution is designed to provide property managers with seamless visibility and control over all their assets while delivering cost savings and additional revenue opportunities through all-in-one home control offerings for residents. For more information please visit smartrent.com.

Important Information for Investors and Stockholders

This document relates to the proposed merger involving Fifth Wall Acquisition Corp. I ("FWAA") and SmartRent.com, Inc. ("SmartRent"). FWAA filed an amended registration statement on Form S-4 (the "Registration Statement") with the Securities and Exchange Commission (the "SEC") on July 26, 2021, which included a preliminary proxy statement/prospectus in connection with FWAA’s solicitation for proxies for the vote by FWAA’s shareholders in connection with the proposed transactions and other matters as described in such Registration Statement, as well as the prospectus relating to the offer of the securities to be issued to SmartRent’s shareholders in connection with the completion of the proposed transaction. The definitive proxy statement/prospectus has been mailed to the stockholders of FWAA, seeking any required stockholder approvals. Investors and security holders of FWAA and SmartRent are urged to carefully read the entire definitive proxy statement/prospectus and any other relevant documents filed with the SEC, as well as any amendments or supplements to these documents, because they will contain important information about the proposed transaction. The documents filed by FWAA with the SEC may be obtained free of charge at the SEC’s website at www.sec.gov. Alternatively, these documents, when available, can be obtained free of charge from FWAA upon written request to Fifth Wall Acquisition Corp. I, 6060 Center Drive, 10th Floor, Los Angeles, California 90045.

FWAA, SmartRent and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in favor of the approval of the merger and related matters. Information regarding their interest in the transaction is contained in the Registration Statement and definitive proxy statement/prospectus. Free copies of these documents may be obtained as described in the preceding paragraph.

This document does not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of the proposed transaction. This document also does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval, nor will there be any sale of any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such other jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 including, but not limited to, FWAA’s and SmartRent’s expectations or predictions of future financial or business performance or conditions, SmartRent’s product roadmap, including the expected timing of new product releases, SmartRent’s plans to expand its product availability globally, the expected composition of the management team and board of directors following the transaction, the expected use of capital following the transaction, including SmartRent’s ability to accomplish the initiatives outlined above, the expected timing of the closing of the transaction and the expected cash balance of the combined company following the closing. Any forward-looking statements herein are based solely on the expectations or predictions of FWAA or SmartRent and do not express the expectations, predictions or opinions of Fifth Wall in any way. Forward-looking statements are inherently subject to risks, uncertainties, and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events, or results of operations, are forward-looking statements. These statements may be preceded by, followed by, or include the words "believes," "estimates," "expects," "projects," "forecasts," "may," "will," "should," "seeks," "plans," "scheduled," "anticipates," "intends" or "continue" or similar expressions. Such forward-looking statements involve risks and uncertainties that may cause actual events, results or performance to differ materially from those indicated by such statements. Certain of these risks are identified and discussed in the section of FWAA’s Form S-1 titled "Risk Factors," which was filed with the SEC on February 4, 2021. These risk factors will be important to consider in determining future results and should be reviewed in their entirety. These forward-looking statements are based on FWAA’s or SmartRent’s management’s current expectations and beliefs, as well as a number of assumptions concerning future events. However, there can be no assurance that the events, results, or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and neither FWAA nor SmartRent is under any obligation and expressly disclaim any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Readers should carefully review the statements set forth in the reports, which FWAA has filed or will file from time to time with the SEC.

In addition to factors previously disclosed in FWAA’s reports filed with the SEC, including FWAA’s most recent reports on Form 8-K and all attachments thereto, which are available, free of charge, at the SEC’s website at www.sec.gov, and those identified elsewhere in this document, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: risks and uncertainties related to the inability of the parties to successfully or timely consummate the merger, including the risk that any required regulatory approvals or stockholder approvals of FWAA or SmartRent are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the combined company or the expected benefits of the merger is not obtained, failure to realize the anticipated benefits of the merger, risks related to SmartRent’s ability to execute on its business strategy, attract and retain users, develop new offerings, enhance existing offerings, compete effectively, and manage growth and costs, the duration and global impact of COVID-19, the possibility that FWAA or SmartRent may be adversely affected by other economic, business and/or competitive factors, the number of redemption requests made by FWAA’s public stockholders, the ability of SmartRent and the combined company to leverage Fifth Wall’s limited partner and other commercial relationships to grow SmartRent’s customer base (which is not the subject of any legally binding obligation on the part of Fifth Wall or any of its partners or representatives), the ability of SmartRent and the combined company to leverage its relationship with any other SmartRent investor (including investors in the proposed PIPE transaction) to grow SmartRent’s customer base, the ability of the combined company to meet Nasdaq’s listing standards (or the standards of any other securities exchange on which securities of the public entity are listed) following the merger, the inability to complete the private placement of common stock of FWAA to certain institutional accredited investors, the risk that the announcement and consummation of the transaction disrupts SmartRent’s current plans and operations, costs related to the transaction, changes in applicable laws or regulations, the outcome of any legal proceedings that may be instituted against FWAA, SmartRent, or any of their respective directors or officers, following the announcement of the transaction, the ability of FWAA or the combined company to issue equity or equity-linked securities in connection with the proposed merger or in the future, the failure to realize anticipated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions and purchase price and other adjustments; and those factors discussed in documents of FWAA filed, or to be filed, with the SEC.

Additional factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in FWAA’s most recent reports on Form 8-K, which are available, free of charge, at the SEC’s website at www.sec.gov, and will also be provided in FWAA’s proxy statement/prospectus, when available. Any financial projections in this document are forward-looking statements that are based on assumptions that are inherently subject to significant uncertainties and contingencies, many of which are beyond FWAA’s and SmartRent’s control. While all projections are necessarily speculative, FWAA and SmartRent believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection extends from the date of preparation. The assumptions and estimates underlying the projected results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the projections. The inclusion of projections in this document should not be regarded as an indication that FWAA and SmartRent, or their representatives, considered or consider the projections to be a reliable prediction of future events.

Annualized, pro forma, projected and estimated numbers (including projected revenue derived from committed units) are used for illustrative purposes only, are not forecasts, and may not reflect actual results. Presentation of historical 0% customer churn (which occurs when an existing customer removes SmartRent installed units) is illustrative only, and is not intended to be predictive of future churn, particularly as business continues to grow. When used herein, the term "committed units" includes both (i) units that are subject to binding purchase orders from customers and (ii) units that existing customers who are parties to a SmartRent master services agreement have informed SmartRent that they intend to order.

This document is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in FWAA and is not intended to form the basis of an investment decision in FWAA. All subsequent written and oral forward-looking statements concerning FWAA and SmartRent, the proposed transaction, or other matters and attributable to FWAA and SmartRent or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above.

Investor Contact:
investors@smartrent.com

Media Contact:
SmartRent@Inkhouse.com

PR Newswire

Key Foundry Reinforces Design Support for Fabless Customers

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SEOUL, South Korea, Aug. 11, 2021 — Key Foundry, the only pure-play foundry in Korea, announced today that it has developed a customer-friendly semiconductor design support tool named PDK Version E (Process Design Kit, enhanced version), and begun its offering to fabless companies.

A PDK is a semiconductor fabrication process-related database offered by a foundry company. This database enables customers to create designs that are well-suited for the foundry service provider’s fabrication processes and equipment characteristics.

Recently, PDK has become a key indicator of foundry service provider’s technical strength. When fabless companies use well-defined PDKs, they can reduce risks that may occur during semiconductor manufacturing and shorten the time for development.

Key Foundry has been offering PDKs that support environments of major chip design tool companies such as Synopsys, Cadence, Siemens, etc. to help customer design. PDK version E was developed by adding a PDK setup environment (PDK Organizer) and gate-level PCells (GCELL) to improve customer design convenience.

The PDK setup environment helps customers build user environments suitable for their product designs and allows the customization of the entire PDK set compared to the existing method that supports customization of only part of the PDK set. In addition, GCELL, the first feature introduced in the foundry industry, supports functional units consisting of combinations of basic unit devices, which improve design convenience and reduce design time, unlike traditional methods that support only independent basic unit devices provided in the fabrication process.

Key Foundry has applied PDK Version E to all of its BCD (Bipolar-CMOS-DMOS) processes and continues expanding the application to Mixed-Signal, Embedded Flash and High Voltage processes. In particular, for BCD processes, where demand has been increasing in recent years, Key Foundry expects PDK Version E with additional updated models which more accurately represent silicon characteristics compared to the previous one will provide an opportunity to expand the customer base. 

In a recent customer satisfaction survey conducted by Key Foundry, the majority of customers who have used PDK Version E gave positive feedback that the tool was helpful, and they intend to continue using it for future designs. It is deemed that the tool’s easy customization of design environments and high design and layout convenience are major reasons for the positive survey result.

"Key Foundry has made years of relentless development and verification efforts to reinforce design support for our fabless customers," said Dr. Tae Jong Lee, CEO of Key Foundry. "We will continue striving to perfect our foundry service by improving our PDKs and grow the competitiveness of our process technology."

About Key Foundry

Headquartered in Korea, Key Foundry provides specialty Analog and Mixed-Signal foundry services for semiconductor companies to serve a wide range of applications in the consumer, communications, computing, automotive and industrial industries. With a broad range of technology portfolio and process nodes, Key Foundry has the flexibility and capability to meet the ever-evolving needs of semiconductor companies across the globe. Please visit https://www.key-foundry.com for more information.

CONTACTS:

Media Communication:

Strategy & Business Planning Team

Tel. + 82-2-3450-5191

strategy@key-foundry.com

Sales/Marketing/Technology:

Taeho Choi (Marketing VP)

Tel. + 82-43-718-4548

taeho.choi@key-foundry.com

Related Links :

http://www.key-foundry.com