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PR Newswire

Deltek Completes Its Acquisition of Replicon

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Deltek adds the complementary knowledge workforce management solution to its professional services portfolio to help project and service-centric businesses 

HERNDON, Va., Aug. 23, 2023 /PRNewswire/ — Deltek, the leading global provider of software and solutions for project-based businesses, announced today that it has completed its acquisition of Replicon – a global provider of unified time tracking solutions that bring together Project Delivery, Finance and HR on a single platform, purpose-built for project and service-centric organizations. Replicon, now a part of the Deltek solution portfolio, complements Deltek’s enterprise software and information solutions that help organizations power project success.

Deltek completes its acquisition of Replicon
Deltek completes its acquisition of Replicon

Replicon offers a differentiated, project-centric suite of Time Management, HR Attendance and PSA offerings, without requiring a finance system transition. This acquisition supports Deltek’s product and customer expansion into additional project-based industries and accelerates Deltek’s market position within global IT Services and Consulting, as well as other Professional Service organizations in the enterprise and mid-market.

“We are very excited to complete this acquisition – one of the largest in Deltek’s history – and welcome Replicon into the Deltek family. Just like Deltek, the Replicon team is dedicated to project-based businesses with a specific focus on customers, collaboration and innovation. With the combination of our two companies, we now have new and expanded capabilities to offer project and service-centric organizations globally. We look forward to the many new opportunities this acquisition brings to Deltek Project Nation, including those with Replicon customers and partners,” said Deltek’s President and CEO, Mike Corkery.

“Replicon has an unprecedented technology stack with an impressive user experience, and we are excited to work on how we go to market together,” said Warren Linscott, Chief Product Officer. “As the industries we serve evolve, we continue to look for new ways to cater to our customers and a broader range of project-based businesses. With Replicon, Deltek will further its leadership in global IT Services and Consulting, and other Professional Service organizations in the enterprise and mid-market.”

Replicon solutions are a fit for organizations that require more sophisticated time and resource management and do not currently have a Deltek ERP solution or do not want to switch their ERP system. Deltek will continue to enhance its native time applications within its ERP solutions, which will not be replaced by Replicon.

“Deltek is the perfect home for Replicon. We know that with Deltek we will continue to hold up our commitment to meet and exceed Replicon customers’ needs and continue delivering innovative solutions. We are just at the beginning of a very exciting journey together,” commented Raj Narayanaswamy and Lakshmi Raj, Co-founders & Co-CEOs of Replicon.

The agreement with Replicon was announced on May 25, 2023. To learn more about this solution, visit Replicon.com.

About Deltek

Better software means better projects. Deltek is the leading global provider of enterprise software and information solutions for project-based businesses. More than 30,000 organizations and millions of users in over 80 countries around the world rely on Deltek for superior levels of project intelligence, management, and collaboration. Our industry-focused expertise powers project success by helping firms achieve performance that maximizes productivity and revenue. www.deltek.com

Deltek Media Contact:
Deltek Media Relations Team
press@deltek.com

PR Newswire

Chindata Group Enters into Definitive Agreement for “Going Private” Transaction

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BEIJING, Aug. 12, 2023 /PRNewswire/ — Chindata Group Holdings Limited (“Chindata Group” or the “Company”) (Nasdaq: CD), a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets, today announced that it has entered into an Agreement and Plan of Merger (the “Merger Agreement”) with BCPE Chivalry Bidco Limited (“Parent”) and BCPE Chivalry Merger Sub Limited, a wholly owned subsidiary of Parent (“Merger Sub”). Pursuant to the Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the “Merger”), in a transaction implying an equity value of the Company of approximately US$3.16 billion. As a result of the Merger, the Company will become a wholly owned subsidiary of Parent.

Pursuant to the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each Class A ordinary share, par value US$0.00001 per share (each, a “Class A Ordinary Share”), and each Class B ordinary share, par value US$0.00001 per share (together with the Class A Ordinary Shares, each, a “Share”) issued and outstanding immediately prior to the Effective Time, other than the Excluded Shares, the Dissenting Shares (each as defined in the Merger Agreement) and Shares represented by American depositary shares of the Company (each, an “ADS”, representing two Class A Ordinary Shares), will be cancelled and cease to exist, in exchange for the right to receive US$4.30 in cash without interest and net of any applicable withholding taxes, and each outstanding ADS, other than the ADSs representing the Excluded Shares, together with each Share represented by such ADSs, will be cancelled in exchange for the right to receive US$8.60 in cash without interest and net of any applicable withholding taxes and certain fees to the ADS depositary (the “Merger Consideration”).

The Merger Consideration represents a 7.5% increase from the purchase price contemplated by the preliminary non-binding proposal letter delivered by BCPE Bridge Cayman, L.P. and BCPE Stack Holdings, L.P. (collectively, the “Bain Shareholders”) to the Company on June 6, 2023. The Merger Consideration also represents a premium of approximately 42.6% to the closing price of the ADSs on June 5, 2023, the last trading day before the Company’s receipt of the preliminary non-binding proposal letter from the Bain Shareholders, and a premium of approximately 48.7% to the volume-weighted average trading price of the ADSs during the 30 trading days prior to and including June 5, 2023.

The Bain Shareholders and the other Investors (as defined in the Merger Agreement) have entered into support agreements with Topco and Parent, whereby, among other things, subject to the terms and conditions of the applicable support agreement, the Investors (as applicable) have agreed to (i) vote all the equity securities of the Company beneficially owned by such Investors in favor of the the authorization and approval of the Merger Agreement and the consummation of the Merger, (ii) have all or a portion of the Shares (including Shares represented by ADSs) beneficially owned by such applicable Investors (the “Rollover Shares”) cancelled at the Effective Time for no consideration from the Company and receive newly issued shares of Topco, and (iii) make or cause to be made cash contribution in accordance with the equity commitment letters and to subscribe for newly issued shares of Topco at or immediately prior to the Effective Time. As of the date of this press release, the Investors collectively beneficially own Shares representing approximately 95.26% of the outstanding voting power of the Company and approximately 65.67% of the outstanding Shares.

The Merger will be funded through a combination of (i) cash contribution from the Sponsors (as defined in the Merger Agreement) or their affiliates pursuant to their respective equity commitment letters, (ii) debt financing provided by Shanghai Pudong Development Bank Co., Ltd. Lujiazui Sub-branch (上海浦东发展银行股份有限公司陆家嘴支行) and Industrial Bank Co., Ltd. Shanghai Branch (兴业银行股份有限公司上海分行) and (iii) equity rollover by each of the Investors who are existing shareholders of the Company of their respective Rollover Shares.

The Company’s board of directors, acting upon the unanimous recommendation of a committee of independent directors established by the board of directors (the “Special Committee”), approved the Merger Agreement and the Merger, and resolved to recommend that the Company’s shareholders vote to authorize and approve the Merger Agreement and the Merger. The Special Committee negotiated the terms of the Merger Agreement with the assistance of its independent financial advisor and legal advisors.

The Merger is currently expected to close during the fourth quarter of 2023 or the first quarter of 2024 and is subject to customary closing conditions, including among others,(i) that the authorization and approval of the Merger Agreement by the affirmative vote of shareholders representing at least two-thirds of the voting power of the Shares present and voting in person or by proxy at a general meeting of the Company’s shareholders, and (ii) that shareholders of the Company holding less than 12% of the total issued and outstanding Shares immediately prior to the Effective Time shall have validly served and not withdrawn a notice of objection under Section 238(2) of the Companies Act (as amended) of the Cayman Islands. If completed, the Merger will result in the Company becoming a privately held company and its ADSs will no longer be listed on the NASDAQ Global Select Market.

Citigroup Global Markets Asia Limited is serving as the independent financial advisor to the Special Committee. Gibson, Dunn & Crutcher is serving as U.S. legal counsel to the Special Committee. Certain legal matters with respect to the Cayman Islands law are advised by Maples and Calder (Hong Kong) LLP. Certain legal matters with respect to PRC law are advised by Haiwen & Partners. Weil, Gotshal & Manges is serving as U.S. legal counsel to Citigroup Global Markets Asia Limited.

Morgan Stanley Asia Limited is serving as the financial advisor to the Bain Shareholders and their affiliates (the “Bain Parties”). Kirkland & Ellis is serving as U.S. legal counsel to the Bain Parties.  Conyers Dill & Pearman is serving as Cayman Islands legal counsel to the Bain Parties. King & Wood Mallesons is serving as PRC legal counsel to the Bain Parties.

Additional Information About the Merger

The Company will furnish to the U.S. Securities and Exchange Commission (the “SEC”) a current report on Form 6-K regarding the Merger, which will include the Merger Agreement as an exhibit thereto. All parties desiring details regarding the Merger are urged to review these documents, which will be available at the SEC’s website (http://www.sec.gov).

In connection with the Merger, the Company will prepare and mail to its shareholders a proxy statement that will include a copy of the Merger Agreement. In addition, in connection with the Merger, the Company and certain other participants in the Merger will prepare and disseminate to the Company’s shareholders a Schedule 13E-3 Transaction Statement that will include the Company’s proxy statement (the “Schedule 13E-3”). The Schedule 13E-3 will be filed with the SEC. INVESTORS AND SHAREHOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE SCHEDULE 13E-3 AND OTHER MATERIALS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE, AS THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE COMPANY, THE MERGER, AND RELATED MATTERS. Shareholders also will be able to obtain these documents, as well as other filings containing information about the Company, the Merger, and related matters, without charge from the SEC’s website (http://www.sec.gov).

This announcement is neither a solicitation of proxy, an offer to purchase nor a solicitation of an offer to sell any securities, and it is not a substitute for any proxy statement or other materials that may be filed with or furnished to the SEC should the proposed merger proceed.

About Chindata Group

Chindata Group is a leading carrier-neutral hyperscale data center solution provider in Asia-Pacific emerging markets and a first mover in building next-generation hyperscale data centers in China, India and Southeast Asia markets, focusing on the whole life cycle of facility planning, investment, design, construction and operation of ecosystem infrastructure in the IT industry. Chindata Group provides its clients with business solutions in major countries and regions in Asia-Pacific emerging markets, including asset-heavy ecosystem chain services such as industrial bases, data centers, network and IT value-added services.

Chindata Group operates two sub-brands: “Chindata” and “Bridge Data Centres”. Chindata operates hyper-density IT cluster infrastructure in the Greater Beijing Area, the Yangtze River Delta Area and the Greater Bay Area, the three key economic areas in China, and has become the engine of the regional digital economies. Bridge Data Centres, with its top international development and operation talents in the industry, owns fast deployable data center clusters in Malaysia and India, and seeks business opportunities in other Asia-Pacific emerging markets.

Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “confident,” “potential,” “continue” or other similar expressions. Among other things, the business outlook and quotations from management in this announcement, as well as Chindata Group’s strategic and operational plans, contain forward-looking statements. Chindata Group may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including but not limited to statements about Chindata Group’s beliefs and expectations, are forward-looking statements. 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: Chindata Group’s goals and strategies; its future business development, financial condition and results of operations; the expected growth and competition of the data center and IT market; its ability to generate sufficient capital or obtain additional capital to meet its future capital needs; its ability to maintain competitive advantages; its ability to keep and strengthen its relationships with major clients and attract new clients; its ability to locate and secure suitable sites for additional data centers on commercially acceptable terms; government policies and regulations relating to Chindata Group’s business or industry; general economic and business conditions in the regions where Chindata Group operates and globally and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in Chindata Group’s 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 Chindata Group undertakes no obligation to update any forward-looking statement, except as required under applicable law.

For Enquiries, Please Contact:

Chindata IR Team

ir@chindatagroup.com

Mr. Dongning Wang

dongning.wang@chindatagroup.com

PR Newswire

Databricks Completes Acquisition of MosaicML

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The combined companies plan to make generative AI accessible to any size organization, enabling them to build, own and secure generative AI models with their data.

SAN FRANCISCO, July 20, 2023 /PRNewswire/ — Databricks, the Data and AI company, announced it has completed its acquisition of MosaicML, a leading generative AI platform known for its state-of-the-art MPT large language models (LLMs). Databricks and MosaicML have a shared vision of making generative AI accessible for all organizations, enabling them to build, own and secure generative AI models, including LLMs with their proprietary data.

“Through this acquisition, we will be able to provide our 10,000 customers the ability to use their own data on the Databricks Lakehouse to train and deploy bespoke LLMs that offer a differentiated experience for their end users. Combining MosaicML with the Lakehouse provides a secure and best-in-class generative AI platform,” said Ali Ghodsi, Co-Founder and CEO of Databricks. “We are excited to welcome the MosaicML team of top AI researchers and engineers to the Databricks family and look forward to collaborating with them to build the future of data and AI.”

“Together with Databricks, we will empower enterprise customers to more securely and cost-effectively build LLMs and generative AI with their own data,” said Naveen Rao, Co-Founder and CEO at MosaicML. “Our team is excited to join the Databricks family and continue innovating for customers and the open source community.”

MosaicML’s product, which enables companies to efficiently build and deploy large AI models on their own data and business processes, will remain available for direct purchase. In the coming months, the Databricks and MosaicML teams will work to make training custom models even more seamless for Databricks Lakehouse customers.

The Databricks Lakehouse Platform, combined with MosaicML’s technology, will offer customers the state-of-the-art generative AI training platform while allowing them to retain control, security, and ownership over their valuable data.

About Databricks
Databricks is the Data and AI company. More than 10,000 organizations worldwide — including Comcast, Condé Nast, and over 50% of the Fortune 500 — rely on the Databricks Lakehouse Platform to unify their data, analytics and AI. Databricks is headquartered in San Francisco, with offices around the globe. Founded by the original creators of Delta Lake, Apache Spark™, and MLflow, Databricks is on a mission to help data teams solve the world’s toughest problems. To learn more, follow Databricks on Twitter, LinkedIn and Facebook.

PR Newswire

Sojern Acquires VenueLytics to Bolster its Platform for the Hospitality Industry

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SAN FRANCISCO, July 11, 2023 /PRNewswire/ — Sojern, the leading travel marketing platform, today announced the acquisition of VenueLytics, the hospitality industry’s most integrated guest experience platform serving independent hotels, resorts, chains and casinos. Sojern will incorporate VenueLytics’ capabilities as an extension of the Sojern Travel Marketing Platform.

Logo, no tagline
Logo, no tagline

Sojern has long been a direct bookings driver for hotels—providing comprehensive digital advertising solutions that help travel marketers find, attract and convert new travelers, re-activate existing guests to build loyalty, and maximize net revenue per available room (RevPAR). This acquisition expands Sojern’s Travel Marketing Platform to engage across the entire guest journey with VenueLytics’ cutting-edge technology that includes an Artificial Intelligence (AI)-powered virtual concierge, real-time guest feedback and digital reputation management tools, and a guest marketing suite for email and text promotions. VenueLytics’ solutions help marketing, operations, and front-desk teams better serve their guests with less resources required, drive incremental revenue, and maximize profit. With these additional features, Sojern can now help marketers find, attract, convert and engage travelers throughout their journey.

“This is an exciting step forward for our customers as we can empower hoteliers beyond advertising alone, expanding our offerings to be a true end-to-end marketing platform,” said Mark Rabe, CEO of Sojern. “We are dedicated to providing the travel industry with innovative solutions that leverage data, AI and technology to drive results. VenueLytics’ expertise in analyzing, unifying and activating data from various hotel management and marketing systems will allow Sojern to deepen our relationships in hospitality. This addition helps us to advance toward becoming the travel marketing platform.”

One of VenueLytics key customers is Grupo Posadas, the largest hotel company in Mexico with over 180 resorts and hotels. Posadas Director of Quality, Standards and Innovation, Leslie Gomez, commented, “By using VenueLytics AI Concierge throughout the guest journey, Posadas has increased Ancillary Revenue with more than 53K requests over the last 9 months. Our guests satisfaction improved more than 19 percentage points (pp) in NPS (Net Promoter Score) from the guests who had contact with our digital concierge experience.”

By extending its platform with VenueLytics, Sojern can now support hotel marketers with an all-in-one platform that drives guests directly to a property, enables upsell mid-stay, remarketing post-stay, and builds long term loyalty. In addition to the multichannel offerings of Sojern, VenueLytics provides the ability to engage customers in an expanded multichannel network that includes SMS, Email, WiFi, WhatsApp, Facebook Messenger, ChatBot, Alexa, Google Home and other social media and third party apps. This allows Sojern to expand into generative AI with cutting edge tools to drive and optimize booking value for hotels.

VenueLytics Co-Founder and CEO Baskar Manivannan commented, “We have partnered with Sojern for more than a year, and joining forces will strengthen our customer base and reputation while enabling us to offer the hospitality and travel industry a wider and timely range of solutions. With AI, data analytics and personalized multichannel guest engagement at the backbone of what we do, we have a shared vision to empower hotels around the world to drive profitability, and truly elevate guest experience and satisfaction.”

Last month, Sojern announced the latest version of its Sojern Travel Marketing Platform with enhanced AI powered audiences. With this acquisition, it further demonstrates the company’s rigor and success at integrating new technology and scaling it globally. Terms of the deal were not disclosed, but Sojern has reported previously that it is profitable, has driven more than $10 billion in global travel bookings, and serves over 10,000 customers annually around the world leveraging its long-standing AI capabilities.

The acquisition will deepen Sojern’s hotel expertise in North America where VenueLytics has been focused. VenueLytics will now be able to support the global hospitality industry as an extension of the Sojern Travel Marketing Platform. To learn more about how this acquisition can benefit your travel marketing campaigns, please visit Sojern’s website.

About Sojern
Sojern is a leading digital marketing platform built for travel marketers. Powered by artificial intelligence and traveler intent data, Sojern provides multichannel marketing solutions to drive direct demand. More than 10,000 hotels, attractions, tourism boards, and travel marketers rely on Sojern annually to engage and convert travelers around the world.

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PR Newswire

Deltek Reaches Agreement to Acquire Replicon, A Global Provider of Knowledge Workforce Management Solutions for Project and Service-Centric Organizations

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HERNDON, Va., May 26, 2023 /PRNewswire/ — Deltek, the leading global provider of software and solutions for project-based businesses, announced today that it has entered into an agreement to acquire Replicon – a provider of unified time tracking solutions that bring together Project Delivery, Finance and HR on a single platform, purpose-built for project and services-centric organizations. This acquisition complements Deltek’s robust portfolio of enterprise software and information solutions for project-based organizations.

Headquartered in Calgary, Canada, Replicon delivers more than 2,500 customers with best-in-class software for unified project time tracking, project billing, time and attendance, compliance, professional services automation, as well as automated time entry capabilities. Replicon’s product portfolio is greatly established amongst some of the largest professional services firms in the world.

“Deltek is continuously looking at ways to expand our capabilities and add value to our customers. By acquiring Replicon, we will add another complementary solution – a sophisticated and intuitive project time tracking, knowledge workforce management and PSA solution suite, which will enable Deltek to serve the needs of even more project and service-centric organizations,” said Deltek’s President and CEO, Mike Corkery. “With this acquisition, Deltek will remain committed to Replicon and its partnerships and will continue to improve and expand integrations with leading HR, ERP and project management providers. We are incredibly excited to welcome the Replicon family of employees, customers and partners to Deltek Project Nation.”

“We are thrilled about the combination of Deltek and Replicon,” said Raj Narayanaswamy Co-founder & Co-CEO of Replicon. “Replicon has nearly 30 years of industry leadership in pioneering time management processes. Our proven solutions are loved by users, flexible and configurable, and integrate with any ERP, accounting, project management, HR or payroll system. We look forward to our future as part of Deltek Project Nation.”

“Replicon has always been focused on empowering people with game-changing solutions and we are excited to continue that journey with Deltek,” commented Lakshmi Raj, Co-founder & Co-CEO of Replicon. “Joining the Deltek team is a tremendous opportunity for our employees, our customers, and partners.”

Under the terms of the agreement, the transaction is conditioned upon regulatory approval and the satisfaction of customary closing conditions and is expected to close in the coming weeks.

Learn more at Deltek.com.

About Deltek

Better software means better projects. Deltek is the leading global provider of enterprise software and information solutions for project-based businesses. More than 30,000 organizations and millions of users in over 80 countries around the world rely on Deltek for superior levels of project intelligence, management, and collaboration. Our industry-focused expertise powers project success by helping firms achieve performance that maximizes productivity and revenue. www.deltek.com  

About Replicon

Replicon provides a comprehensive solution for managing the complex demands of project-based businesses by bringing together Project Delivery, Finance, and HR on a single platform. With over 27 years of experience in the industry, Replicon’s Knowledge Workforce Management Solutions provide a single source of truth for Time, Expense, Projects, Resources, Skills, Billing, Costing, Pay, Revenue Recognition, and Compliance. These solutions have achieved 100% user adoption, ensuring businesses have real-time access to accurate data for informed decision-making.

Replicon’s platform is designed for global scalability and configurability, enabling businesses to empower teams for both global governance and local administration, resulting in increased productivity and streamlined business operations. Replicon has established a strong global presence, serving businesses across 85 countries and 25 industries, including Fortune 100 companies.

For more information, visit www.Replicon.com. 

PR Newswire

J&T Express and SF Express reach agreement to acquire 100% share rights of Fengwang Express for RMB 1.183 billion

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SHANGHAI, May 12, 2023 /PRNewswire/ — Global logistics service provider, J&T Express today announced that it has entered into a Share Transfer Agreement with Shenzhen Fengwang Holdings Co., Ltd. (“Fengwang Holdings”), a subsidiary of S.F. Holding Co., Ltd. (002352.SZ). J&T Express’ subsidiary J&T Express (Shenzhen) Supply Chain Co., Ltd. will acquire 100% share rights of Fengwang Holding’s wholly-owned subsidiary, Shenzhen Fengwang Information Technology Co., Ltd. (“Fengwang Information”), for RMB 1.183 billion. This transaction is subject to several prerequisites, the Examination of Concentrations of Undertakings by the State Administration for Market Regulation, and the transaction consideration being settled in a timely manner according to the Share Transfer Agreement.

J&T Express has been making significant strides in the e-commerce express delivery sector since its entry into the Chinese market in 2020. The company has successfully acquired Best Inc.’s express business in China in late 2021. Shenzhen Fengwang Express Co., Ltd. (“Fengwang Express”) is a wholly-owned subsidiary of Fengwang Information. Fengwang Express’ network currently covers 27 provinces, municipalities and autonomous regions across China, providing high quality services to e-commerce customers. In 2022, Fengwang’s revenue exceeded RMB 3.2 billion. The overall network service quality is stable.

J&T Express has expressed its commitment to continuously optimizing the service experience as part of its focus on the e-commerce express delivery service industry. This acquisition will enhance the integrated service capabilities of J&T Express. This move is expected to foster high-quality development of the industry allowing it to further increase its competitive advantage in the e-commerce delivery sector and contribute to the high-quality development of the industry.

S.F. said that the resources of two sides are complementary, this will help ensure the smooth transition of the transaction. Looking forward, S.F. can focus more on the development of its core businesses such as domestic mid-to-high-end express, international express, global supply chain services and digital supply chain services. Meanwhile, S.F. will continue to build e-commerce express delivery products and services and meet the diversified needs of customers in the high-end express delivery market.

About J&T Express

J&T Express is a global logistics service provider with leading express delivery businesses in Southeast Asia and China, the largest and fastest-growing market in the world. Founded in 2015, J&T Express’ network spans thirteen countries, including Indonesia, Vietnam, Malaysia, the Philippines, Thailand, Cambodia, Singapore, China, Saudi Arabia, the UAE, Mexico, Brazil and Egypt. Adhering to its “customer-oriented and efficiency-based” mission, J&T Express is committed to providing customers with integrated logistics solutions through intelligent infrastructure and digital logistics network, as part of its global strategy to connect the world with greater efficiency and bring logistical benefits to all.

About S.F.  

SF is the largest integrated logistics service provider in China, and the fourth largest express delivery enterprise in the world, providing domestic and international end-to-end one-stop supply chain services. At the same time, relying on leading scientific and technological research and development capabilities, SF is committed to building the digital supply chain ecology and becoming a leader in the global intelligent supply chain. After years of dedicated operation, SF has earned considerable reputation and popularity in the industry, and has established the “rapid, punctual and safe” brand image. It takes the lead in multiple segments and continues to lead in the industry.

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Qiming Venture Partners’ portfolio company LanzaTech Lists on Nasdaq

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SHANGHAI, Feb. 11, 2023 /PRNewswire/ — LanzaTech NZ, Inc. (“LanzaTech”), an innovative leader in carbon capture and transformation and a Qiming Venture Partners portfolio company, listed on Nasdaq on Feb 10 Beijing time, following the completion of its business combination with AMCI Acquisition Corp. II (“AMCI”), a special purpose acquisition company. The combined company will operate as LanzaTech Global, Inc. (NASDAQ: LNZA). It issued at $10.00/share representing a market cap of $2 billion.

As LanzaTech’s early investor, Qiming led the company’s series B round of financing in 2010 and followed on its Series C and D rounds. The successful listing is Qiming’s 4th IPO in 2023 and first SPAC IPO.

LanzaTech is a pioneer in using nature-based carbon refining technology to transform waste carbon into materials such as sustainable fuels, fabrics, and packaging that people use in their daily lives. Through licensing and co-development collaboration models, LanzaTech partnered with Shougang Group and launched the world’s first commercial carbon refining plant at the Jingtang Steel Mill in Caofeidian in Hebei Province, China in 2018, and have subsequently added two commercial plants operating in China, with total production of over 47 million gallons of fuel grade ethanol and mitigation of over 240,000 tons of CO2. There are 14 additional plants being developed worldwide, 12 of which are commercial-scale and two are demo-scale.

As sustainability becoming a global consensus, more companies are pledging carbon-neutral or zero-carbon goals, and environment-conscious consumer market is growing rapidly. LanzaTech partnered with major brands such as Lululemon, Total and L’Oreal, and Unilever to deliver world’s first sustainable packaging and materials leveraging captured carbon emissions instead of fossil fuels, supporting and creating a more sustainable future.

“The successful IPO marks a new milestone for LanzaTech. We look forward to more success by LanzaTech’s cutting-edge technology solution to help achieve green manufacturing and carbon neutrality goals.” Said Gary Rieschel, Founding Managing Partner of Qiming Venture Partners.

About Qiming Venture Partners

Founded in 2006, Qiming Venture Partners is a leading China venture capital firm with offices in Shanghai, Beijing, Suzhou, Hong Kong, Seattle, Boston and the San Francisco Bay Area.

Currently, Qiming Venture Partners manages eleven US Dollar funds and seven RMB funds with $9.4 billion in capital raised. Since our establishment, we have invested in outstanding companies in the Technology and Consumer (T&C) and Healthcare industries at the early and growth stages.

Since our debut, we have backed over 480 fast-growing and innovative companies. Over 180 of our portfolio companies have achieved exits through IPOs at the NYSE, NASDAQ, HKEX, Shanghai Stock Exchange or Shenzhen Stock Exchange, or through M&A or by other means. There are also over 70 portfolio companies that have achieved unicorn status.

Many of our portfolio companies are today’s most influential firms in their respective sectors, including Xiaomi, Meituan, Bilibili, Zhihu, Roborock, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, APT Medical, New Horizon Health, Venus MedTech, Sanyou Medical, AmoyDx, Berry Genomics, SinocellTech, Yuanxin Technology, Caidya, Belief BioMed, WeRide, Biren Technology and UBTech among many others.

PR Newswire

ILX Group announces acquisition of TSG Training Ltd

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LONDON, Jan. 24, 2023 /PRNewswire/ — ILX Group, a leading provider of accredited and best practice training solutions, has completed the acquisition of TSG Training Ltd, a company that specialises in the provision of IT and software testing training courses. The deal will strengthen ILX Group’s accredited training offering and will provide growth opportunities to both businesses.

ILX’s acquisition of TSG supports its ambition to help customers deliver on their digital transformation goals. IT is often at the heart of the changes that companies need to make to do business in the digital age, with software testing a critical component that accounts for an average of 30% of IT project development costs. The software testing market was sized at 40 billion USD last year, with a forecast CAGR of 6% between 2020-2030. This growing demand is leading to an increasing number of people looking to be trained and qualified in software testing.

Russell Kenrick, Managing Director of ILX Group says, “TSG Training is a great company that shares our cultural values and approach to training and development. It has a strong brand with over 20 years of experience in IT and software testing training. As training specialists ourselves, we value this expertise, and when that’s combined with a great team, high quality products and fantastic customers – the incredible opportunity was clear. I am really excited to welcome the team to ILX Group and look forward to developing both businesses.”

Current owner and Managing Director of TSG Training Ltd, Bernard Melson added, “I’m proud of what has been achieved at TSG Training, and I’m delighted that the business and its team have found a good home in ILX. They, like us, care about quality and have been focused on growing a business through great customers experiences, and I am excited to watch them build on the progress that we have made.”

TSG Training Ltd will trade as a subsidiary of ILX Group PLC, and will be run by ILX as a standalone business, to leverage its strong brand. This will enable TSG Training to develop new products, invest in sales and marketing, bring in new customers, and ultimately, grow the business.

TSG Training Ltd were advised by Chris Lloyd of Lloyd Advisory Ltd.

About TSG Training

TSG Training specialises in software testing training. The company offers public and private training delivered via classroom or virtual classroom, and can trace its roots back 20 years. TSG Training was established in 2017, having been spun out of Testing Solutions Group Ltd and is accredited by BCS, The Chartered Institute for IT, and its most popular courses are ISTQB Software testing courses. TSG Training has been instrumental in furthering the bounds of excellence of the testing industry, and the company has contributed to the development of the syllabi and exams for the ISTQB certification programme.

About ILX Group

ILX delivers portfolio, programme & project management learning and consulting solutions via a blend of multimedia e-learning, games and simulations, mobile learning, traditional and virtual classroom training, practical workshops and coaching. We work with our clients to help them to take control of change and improve project outcomes.

A market leader for over 30 years, ILX has provided best practice learning to more than 500,000 people across 5,000 organisations in over 120 countries. Our courses are developed in-house with a dedicated team of experts to produce quality learning that is engaging and flexible according to the needs of the client. The company and its multi-lingual trainers can support customers around the world.

For more information, please get in touch at marketing@ilxgroup.com, +44 (0)1270 611600.

PR Newswire

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

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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

PR Newswire

MultiMetaVerse Inc. and Model Performance Acquisition Corp. Complete Business Combination

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– MMV Ordinary Shares and Warrants to Trade on Nasdaq under Ticker Symbols “MMV” and “MMVWW”, respectively

NEW YORK, Jan. 5, 2023 /PRNewswire/ — MultiMetaVerse Inc., an animation and entertainment company devoted to establishing an open community for its global users and to providing high-quality and immersive entertainment experiences, and Model Performance Acquisition Corp. (Nasdaq: MPAC; “MPAC”), a special purpose acquisition company, announced the completion of their business combination (the “Business Combination”). The listed company resulting from the Business Combination will be MultiMetaVerse Holdings Limited (“MMV”). On January 5, 2023, MMV’s shares will commence trading on the Nasdaq Global Market under the ticker symbol “MMV,” and MMV’s warrants will commence trading on the Nasdaq Capital Market under the ticker symbol “MMVWW.”

Yiran Xu, Chairman and Chief Executive Officer of MMV, stated that “[a]s we achieve a major milestone today, we will continue to develop new stories, animations, video games etc. to cater to the needs of our users, and to expand our business into new markets. By listing on the Nasdaq, we are closer to realize our ambition to become a vigorous international digital entertainment provider in the new era.”

Claudius Tsang, Chief Executive Officer of MPAC, commented, “[t]he Model Performance team is honoured to be part of this landmark occasion for MultiMetaVerse. We are excited for what lies ahead for the company.”

Advisors

Paul Hastings LLP served as legal counsel to MMV. Loeb & Loeb LLP served as the legal counsel to MPAC.

About MMV

MMV is an animation and entertainment company devoted to establish an open community for its global users comprised of animation viewers, game players, and content creators and to provide high-quality and immersive entertainment experience by way of original contents, user-generated contents, and professional user-generated contents. In 2015, MMV commenced animation production under its signature Aotu World brand. This animation series has an inspiring story, unique graphic style and has gained a following, particularly among the younger audience, in China. By leveraging its established user base as a foundation for further development and genre diversification, MMV has produced additional animated content based on the Aotu World brand and added to its portfolio with new brands, stories and characters. MMV also expanded its content offerings in the forms of comic books, short videos, collectibles, stationery, consumer products, mobile games and other genres.

About MPAC

MPAC is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities.

Forward Looking Statements

This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or MMV’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “going to,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern MMV’s expectations, strategy, priorities, plans or intentions. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and there are risks that the predictions, forecasts, projections and other forward-looking statements will not be achieved. You should understand that a number of factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements, including the risks set forth under “Risk Factors” in our Registration Statement on Form F-4 and our other SEC filings. MMV cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. MMV does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Cision View original content:https://www.prnewswire.com/news-releases/multimetaverse-inc-and-model-performance-acquisition-corp-complete-business-combination-301713880.html

Source: Model Performance Acquisition Corp.