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PR Newswire

Consortium Including Tencent Music Entertainment Group Completes Acquisition of Additional Equity Interests in Universal Music Group

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SHENZHEN, China, Jan. 29, 2021 — Tencent Music Entertainment Group ("Tencent Music," "TME," or the "Company") (NYSE:TME), the leading innovative online music entertainment platform in China, today announced that a consortium (the "Consortium"), which is led by Tencent Holdings Limited (00700.HK) and comprising the Company (through one of its wholly-owned subsidiaries) and other co-investors, has completed the acquisition of an additional 10% equity stake (the "Transaction") in Universal Music Group ("UMG") from its parent company, Vivendi SE (VIV.PA) ("Vivendi"), through exercising the call option as announced in December 2020. The Transaction was based on the same enterprise value of EUR30 billion for 100% of UMG’s share capital as in the initial acquisition that closed in March 2020.

Upon the closing of the Transaction, the Consortium’s equity ownership in UMG increased to 20% and TME will continue to have a 10% equity interest in the Consortium.

The Transaction reiterates the significance of UMG’s vast content library, and the unique value creation opportunities combining it with TME’s massive user base, profound user insights and exceptional promotional capabilities. TME is confident that the Transaction will further enhance its extensive engagement with UMG, setting a new benchmark for a mutually beneficial collaboration while propelling the prosperity of the music industry.

About Tencent Music Entertainment

Tencent Music Entertainment Group (NYSE: TME) is the leading online music entertainment platform in China, operating the country’s highly popular and innovative music apps: QQ Music, Kugou Music, Kuwo Music and WeSing. Tencent Music’s mission is to use technology to elevate the role of music in people’s lives by enabling them to create, enjoy, share and interact with music. Tencent Music’s platform comprises online music, online karaoke and music-centric live streaming services, enabling music fans to discover, listen, sing, watch, perform and socialize around music. For more information, please visit ir.tencentmusic.com. 

About Universal Music Group

Universal Music Group (UMG) is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content in more than 60 countries. Featuring the most comprehensive catalog of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. Universal Music Group is a Vivendi company.

Safe Harbor Statement

This press release contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as "may," "will," "expect," "anticipate," "target," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.

Investor Relations Contact
Tencent Music Entertainment Group
ir@tencentmusic.com
+86 (755) 8601-3388 ext. 883606

Related Links :

http://ir.tencentmusic.com

PR Newswire

Veritas Extends Cloud Capabilities Across Its Platform

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Acquires HubStor to expand enterprise SaaS data protection in the cloud

SINGAPORE, Jan. 27, 2021 — Veritas Technologies, a global leader in data protection, availability and insights, is today announcing major updates to its Enterprise Data Services Platform to provide customers with a single platform for all of their cloud environment use cases. Today’s advancements include the acquisition of HubStor to enable powerful enterprise Backup as a Service capabilities. Veritas is also launching NetBackup™ 9 with significant new features that simplify operations and provide customers with flexibility and choice for deployment across edge, core and cloud.

Greg Hughes, CEO of Veritas, said: "Today, more enterprises than ever rely on cloud services such as Microsoft 365, Slack and Box. But too few companies realise that they are responsible for implementing their own data protection policies for SaaS applications.  Adding HubStor to the Veritas portfolio allows customers to protect all their data, now including SaaS data, from a single platform, whether in the cloud, in the data centre or at the edge."

With today’s announcements, Veritas is further cementing its position as the leader in data protection, availability and insights across the multi-cloud. Its Enterprise Data Services Platform supports over 800 different data sources, over 100 different operating systems, more than 1,400 storage targets, and more than 60 different cloud platforms. 

Acquisition of HubStor

The acquisition of HubStor enables expanded protection for a variety of SaaS-based applications, including Microsoft 365, Slack, Box and Google Workspace. HubStor is built on a modern API-first architecture that provides a clear path for integration with the unified Enterprise Data Services Platform to simplify operations and reduce risk as part of a holistic data protection strategy.

HubStor has been developed to overcome some of the biggest barriers to cloud data protection faced by enterprises. It is designed from the ground up to meet the high performance and scalability demands needed to protect, manage and restore enterprise data sets. The integration of HubStor technology into the Veritas portfolio will provide customers with a SaaS backup solution that lets them:

  • Customise and tailor configurations to a highly granular level – even down to individual items.
  • Recover data through a simplified self-service portal for end-users.
  • Comply with data sovereignty requirements with access to data centre locations globally.
  • Discover insights on their backup environment through dashboards and reporting. 

HubStor’s technology harnesses the power of Microsoft Azure, giving customers access to the Azure platform’s global footprint for data sovereignty and replication needs, the ability to leverage other Azure services, and the option to use their own Azure subscription.

Chris Barry, Vice President, WW Enterprise Commercial & Strategy, Microsoft, said: "Veritas has long partnered with Microsoft to help customers manage and protect their most important data in the cloud. HubStor’s acquisition and integration with Veritas takes full advantage of a SaaS solution built on the Azure platform and delivers a backup as a service solution to customers across the globe that benefits from the scale, security, reliability and flexibility that Azure provides."

Michelle Bailey, Group Vice President, General Manager and IDC Research Fellow, said: "Businesses everywhere are embracing a multi-cloud strategy, which includes a greater reliance on SaaS-based services. Enterprises are becoming increasingly aware that while hybrid-cloud architectures can deliver huge benefits, they can also introduce complexity and risk if they’re not properly protected. We are already starting to see the consequences of ransomware attacks or compliance breaches where there is a gap in a transforming cloud environment and insufficient protection, availability or analytics. A standardised, consistent architecture across the data estate is critical to simplify operations and lower overall business risk. 

For additional information about today’s announcements, please join the Veritas Conquer Every Cloud virtual conference on February 17 – 18.

About Veritas

Veritas Technologies is a global leader in data protection, availability and insights. Over 80,000 customers – including 87 percent of the Fortune Global 500 – rely on us to abstract IT complexity and simplify data management. The Veritas Enterprise Data Services Platform automates the protection and orchestrates the recovery of data everywhere it lives, ensures 24/7 availability of business-critical applications, and provides enterprises with the insights they need to comply with evolving data regulations. With a reputation for reliability at scale and a deployment model to fit any need, Veritas Enterprise Data Services Platform supports more than 800 different data sources, over 100 different operating systems, more than 1,400 storage targets, and more than 60 different cloud platforms. Learn more at www.veritas.com. Follow us on Twitter at @veritastechllc.

Veritas, the Veritas Logo and NetBackup are trademarks or registered trademarks of Veritas Technologies LLC or its affiliates in the U.S. and other countries. Other names may be trademarks of their respective owners.

PR Newswire

Launch of KAKAO ENTERTAINMENT through strategic merger of Kakao Page and Kakao M

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-On 1/25, BoDs of Kakao Page and Kakao M resolved to merge two companies into KAKAO ENTERTAINMENT

-KAKAO ENTERTAINMENT will have an unparalleled value chain which compromises of 50 subsidiaries and affiliates across all verticals of the entertainment industry

-The synergy of combined assets will set the ground for KAKAO ENTERTAINMENT’s global expansion

SEOUL, South Korea, Jan. 25, 2021 — The Board of Directors of Kakao Page Corp. (hereafter Kakao Page) and Kakao M Corp. (hereafter Kakao M) announced today that they resolved to merge the two companies into a new entity called KAKAO ENTERTAINMENT. The two companies will hold a general shareholders’ meeting on January 26 and expect to complete the merger on March 1, 2021.

Kakao Page Corp. and Kakao M Corp. combine in strategic merger to launch KAKAO ENTERTAINMENT
Kakao Page Corp. and Kakao M Corp. combine in strategic merger to launch KAKAO ENTERTAINMENT

The combination of Kakao Page and Kakao M means the creation of a Korean entertainment giant which will generate over KRW 1 trillion in annual revenues. At a point where the global entertainment industry is going through hyper competition due to the appearance of new industry players, this strategic merger was resolved to give KAKAO ENTERTAINMENT a competitive edge in the market. This is also the first ever large-scale merger between the subsidiaries of Kakao Corp., the technology conglomerate behind Korea’s most popular messaging app Kakao Talk.

The merger of Kakao Page and Kakao M is expected to create a robust synergy effect given the respective companies’ capabilities in the content business and digital platforms and set the ground for KAKAO ENTERTAINMENT’s next stage of growth through global expansion.

Through the merger, KAKAO ENTERTAINMENT will have an unparalleled business portfolio and value chain including 50 subsidiaries and affiliates across all verticals of the entertainment industry. Kakao Page provides a specialized value chain optimized to produce original contents as well as a global platform network while Kakao M provides expertise in creating music, TV series, films, performances as well as a portfolio of Korea’s top creative talent.

With such foundation, KAKAO ENTERTAINMENT will expand its investment and strategic partnerships with industry leaders to grow into a global entertainment player. The company will not only diversify its business but also focus on producing blockbuster media franchises that can captivate global audiences and seek various ways to create synergies between combined assets.

Kakao Page commented, "The merger of Kakao Page and Kakao M is that of a strategic alliance to build a foundation to compete in the global entertainment industry. By combining the two companies’ business acumen, capabilities and value chain, we aim to disrupt the global entertainment industry."

Kakao M commented, "The decision to merge our expertise in contents and digital platforms was made so we can compete in the hyper-competitive global entertainment sector in earnest. Together we can accelerate and evolve into a global player."

About Kakao Page Corp.

Kakao Page Corp. specializes in creating compelling story IPs mainly in the form of webtoons and web novels. The company singlehandedly pioneered the Korea’s story entertainment industry through an innovative monetization model called ‘Wait or Pay’ in 2014. In addition to this growth model, the company’s active investment into 16 subsidiaries and affiliates paved the way for Kakao Page Corp. to retain the highest number of original titles in Korea (8,500 IPs). The company operates two digital platforms in Korea, the namesake ‘kakaopage’ platform as well as the world’s first webtoon platform called ‘Daum Webtoon.’ The company also has widespread global platform networks in Japan, North America, Greater China and ASEAN regions. Kakao Page Corp.’s original contents have been adapted into diverse derivative formats including TV series, films, games and is also loved in Japan, the world’s biggest comic market, and in North America regions.

About Kakao M Corp.

Kakao M Corp. has unrivaled content production capabilities in mobile, TV, screen and live platforms having 7 leading talent management subsidiaries, 4 music labels and diverse drama, film, performance production companies. Kakao M Corp. has significant market share in Korea’s music industry and annually produces over 1,200 titles. In addition, the company has 80 top creators, 150 celebrities as well as host of star producers within its talent portfolio. Kakao M also operates an in-house studio where Korea’s most wanted producers were recruited to create and operate a novel genre of experimental and witty mobile contents.

PR Newswire

CLPS Incorporation Invests in E-Commerce to Diversify Its Business Model

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HONG KONG, Jan. 22, 2021 — CLPS Incorporation (Nasdaq: CLPS) ("CLPS" or "the Company"), today announced its strategic investment, through its wholly owned subsidiary, ChinaLink Professional Services Co. Ltd., in Shanghai Shier Information Technology Co., Ltd. ("SSIT"), an e-commerce services provider. CLPS has indirectly taken 35% ownership stake in SSIT as part of the Company’s growth strategy to diversify its business model.

SSIT develops and offers e-commerce platform products integrated with rebate program as its main and unique feature. Its products include the "Group Store", an online one-stop shop platform exclusive for an enterprise’s employees; and "Duoshouji", a mobile application available for all Android and iOS users. SSIT has partnered with over 10 leading e-commerce companies, catering to hundreds of brands in China and to its over 100,000 registered users, of which more than 50% are active users. SSIT has attracted a large scale, long standing, and loyal customer base as a result of its well-received platform among the enterprises’ users.

The advent of mobile internet and 5G technology defines the ever-changing trend for acquiring online traffic. This trend is expected to be a more efficient way compared to traditional and costly methods such as search engine optimization (SEO), search engine marketing (SEM) and social media promotion, among others.

Over the years, CLPS has been focused on the business-to-business (B2B) model, and its partnership with SSIT now paves the way to penetrate the business-to-consumer (B2C) through enterprise employee data outreach. In addition, CLPS and SSIT have agreed to integrate more financial products and services into the Group Store as part of an enterprise’s development strategy, leveraging the Company’s expertise in the financial industry.

Mr. Henry Li, Chief Operating Officer of CLPS, said, "The investment in SSIT marks our attempt to enter the B2C business. We are optimistic that this investment will not only generate and improve our financials, but will also complement the respective competitive advantage in B2B and B2C to build an online traffic platform, a new engine of attracting potential clients and a vehicle to fulfill our future business model diversification."

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 sectors. The Company serves as an IT solutions provider to a growing network of clients in the global financial industry, including large financial institutions in the US, Europe, Australia, Southeast Asia and Hong Kong, 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, Chengdu, Guangzhou, Shenzhen, Hangzhou, and Suzhou. The remaining eight global centers are located in Hong Kong SAR, USA, UK, Japan, Singapore, Malaysia, Australia, and India. For further information regarding the Company, please visit: http://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, and involve known and unknown risks, uncertainties and other factors, which may be beyond the Company’s control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by 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 financial and operational performance in the second half and full year of fiscal 2020, its expectations of the Company’s future performance, its preliminary outlook and guidance offered in this presentation, 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

Acorn International’s Shareholders Approve Going Private Transaction

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SHANGHAI, Jan. 22, 2021 — Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), a leading marketing and branding company in China, today announced that at an extraordinary general meeting of shareholders (the "EGM") held today, the Company’s shareholders voted in favor of, among other things, the proposal to authorize and approve the previously announced agreement and plan of merger (the "Merger Agreement") with First Ostia Port Ltd., a Cayman Islands exempted company ("Parent"), and Second Actium Coin Ltd., a Cayman Islands exempted company and a wholly-owned subsidiary of Parent ("Merger Sub"), the plan of merger required to be filed with the Registrar of Companies of the Cayman Islands (the "Plan of Merger") in connection with the Merger; and the consummation of the transactions contemplated by the Merger Agreement and the Plan of Merger, including the Merger (collectively, the "Transactions").

Approximately 98% of the voting rights of the shares voting in person or by proxy were voted in favor of the proposal to authorize and approve the Merger Agreement, Plan of Merger and the Transactions contemplated by the Merger Agreement, including the merger. A two-thirds majority of the voting power represented by the shares of the Company present and voting in person or by proxy at the EGM was required for approving the merger.

The parties currently expect to complete the merger as soon as practicable, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. Upon completion of the merger, the Company will become a privately held company and its American depositary shares will no longer be listed on the New York Stock Exchange.

About Acorn International, Inc.

Acorn International is a leading marketing and branding company in China, leveraging a twenty-year direct marketing history to monetize brand IP, content creation and distribution, and product sales, through digital media in China. For more information visit www.acorninternationalgroup.com.

Safe Harbor Statement 

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

Investor Contacts:

Acorn International, Inc.

              Compass Investor Relations

Mr. Jacob A. Fisch

              Ms. Elaine Ketchmere, CFA

Phone +86-21-5151-8888

              Phone: +1-310-528-3031

Email: ir@chinadrtv.com

              Email: Eketchmere@compass-ir.com

www.acorninternationalgroup.com

              www.compassinvestorrelations.com

 

Related Links :

http://www.acorninternationalgroup.com

PR Newswire

Planon acquires a majority stake in real estate software company Reasult B.V.

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NIJMEGEN, Netherlands, Jan. 20, 2021 — The Planon Group and Reasult today announced that Planon has acquired a majority share in Reasult B.V., founded in 2000 and headquartered in Ede (The Netherlands). Reasult is a software company that optimises the financial performance of real estate portfolios and projects. Reasult’s leading software solutions are used by real estate developers, asset managers and social housing corporations in the Dutch- and German-speaking markets. Example customers are Amvest, a.s.r. real estate, VolkerWessels and HANSAINVEST.

The Reasult software suite includes solutions for real estate development, asset- and portfolio- management, valuation management and financial planning. Planon will combine the Reasult applications with its own solutions for asset management and tenant management and engagement, into one software suite. By doing so Planon aims to support real estate owners and investors in optimising the performance of their property portfolio from a financial, building operations and tenant engagement perspective.

Pierre Guelen, CEO and founder of the Planon Group, stated, "This acquisition is one of the first steps in Planon’s ambitious goals to accelerate its future growth. Planon firmly believes in the strength of Reasult’s solutions and its organisation, both from a technical perspective and due to its extensive market knowledge and experience. It is therefore Planon’s plan to continue to expand the Reasult software suite, as it has done with previously acquired solutions such as SamFM and conjectFM. I am very excited about this acquisition and the possibilities it will offer to customers of both organisations to further develop their current solutions into an end-to-end property portfolio management solution."

Aart Zandbergen, CEO at Reasult, said, "As co-founder of Reasult 20 years ago, I am very excited about becoming part of a fast-growing global specialist in the field of building operations and service digitalisation. With this move, Reasult will be able to further fulfil its strategy of offering a leading platform for optimising real estate in the broadest sense. As part of a market leading organisation, our customers and employees will definitely benefit from this strategic step. The Planon and Reasult solutions are complementary which drives synergy and innovation. This collaboration will allow us to serve our customers in the best way possible and deliver innovative products to help real estate companies be ‘the best in class.’"

Related Links :

https://planonsoftware.com

PR Newswire

Cognizant to Acquire Servian, a Leading Australian Data and Analytics Consulting Firm

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Acquisition Will Enhance Cognizant’s Digital Portfolio and Market Presence in Australia and New Zealand

SYDNEY, Jan. 11, 2021 — Cognizant (Nasdaq: CTSH) today announced it has entered into an agreement to acquire Servian, a Sydney, Australia-based, privately-held enterprise transformation consultancy specializing in data analytics, artificial intelligence, digital services, experience design, and cloud.

Servian is Cognizant’s 10th digital-focused acquisition announced since January 2020, highlighting Cognizant’s strategy to accelerate capabilities and growth in priority areas of data and artificial intelligence, digital engineering, cloud, and Internet of Things across the globe.

The acquisition of Servian significantly expands Cognizant’s integrated, end-to-end digital transformation capabilities in Australia and New Zealand (ANZ) to help clients move to the cloud, build digital products and services, unlock value from data, modernize enterprise applications, and achieve operational excellence.   

"Enterprises in Australia and New Zealand are at an inflection point in their digital adoption," said Jane Livesey, CEO, Cognizant Australia and New Zealand. "Cognizant’s extensive digital expertise combined with Servian’s strengths as the premier technology partner in the region will open up the full power of digital transformation for our Australasian clients. We look forward to welcoming Servian’s talented digital-native professionals to Cognizant."

"Enabling clients to leverage their data assets for accelerating business transformation and driving competitive advantage is at the heart of our success," said Tony Nicol, Founder and CEO, Servian. "We share Cognizant’s passion for innovation powered by digital technologies. With Cognizant’s deep industry expertise and global scale, we will be able to apply our strengths in strategic advisory, engineering delivery, and managed services across an even broader spectrum of challenges and opportunities presented by the digital economy."

Cognizant’s more than 1,200 professionals in Australia serve more than 110 clients, including top Australian banks, insurers, retailers, and communications companies. In the last few years, the company has consistently strengthened its in-country cloud, product engineering, platform, Salesforce, and Workday capabilities to expand its digital business in Australia.        

Founded in 2008, Servian has worked with more than 190 major companies in ANZ in the banking, telecommunications, insurance, retail, and government sectors, including eight of ANZ’s 15 largest companies. Upon the close of the acquisition, Servian’s more than 500 technology and consulting professionals, based primarily in Australia and New Zealand, will join Cognizant, doubling the size of Cognizant’s cloud and data team in ANZ.

Servian brings expertise in all major digital technologies and has partnerships with the largest names in the industry, including Google, Microsoft, Amazon Web Services, Salesforce, Snowflake, Oracle, HashiCorp, Talend, Informatica, and Red Hat. The company was named Google’s Service Partner of the Year in 2019, Snowflake’s Let It Snow and Snow Mate Australia in 2019, HashiCorp’s APJ Services Partner of the Year in 2020, and Talend’s APAC Partner of the Year Value-Added Reseller in 2020.  

The transaction is expected to close in the first quarter of 2021, subject to regulatory clearance and other closing conditions. Financial details were not disclosed.

About Servian
Servian is a leading data consultancy in the Australasian region, whose mission is to enable customers to use their data to build competitive advantage. Servian provides services across data and analytics, cloud infrastructure, DevOps, UI/UX, customer engagement, cybersecurity, artificial intelligence, and IoT. Servian also provides advisory services to help organizations define and execute on their IT strategy, as well as managed services to manage and run platforms on behalf of its customers. Servian is a technology-agnostic, consultant-led organization that has a strong continuous learning culture. To learn more about Servian, visit https://www.servian.com.

About Cognizant
Cognizant (Nasdaq-100: CTSH) is one of the world’s leading professional services companies, transforming clients’ business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 194 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.

Forward-Looking Statements
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. These statements include, but are not limited to, express or implied forward-looking statements relating to expectations regarding the anticipated closing of the acquisition of Servian and the impact of the acquisition of Servian on the business and prospects of Cognizant. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions, changes in the regulatory environment, including with respect to immigration and taxes, and the other factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. Cognizant undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.

For further information, contact:

U.S.:

Jodi Sorensen

jodi.sorensen@cognizant.com

Europe:

Grazia Valentino-Boschi

grazia@cognizant.com

Asia-Pacific:

Harsh Kabra

harsh.kabra@cognizant.com

   

Logo – https://techent.tv/wp-content/uploads/2021/01/cognizant-to-acquire-servian-a-leading-australian-data-and-analytics-consulting-firm.jpg

Related Links :

http://www.cognizant.com

PR Newswire

Hollysys Announces Management’s Plan to Purchase Public Market Shares

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BEIJING, Jan. 8, 2021 — Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announces that it has been notified that certain members of the Company’s management team plan to purchase the Company’s ordinary shares from the public market at market prices.  The share purchases will be conducted by a special purpose vehicle beneficially owned and funded by management of the Company.  They expect to purchase shares in an aggregate value of up to US$50 million over a six-month period. Shares purchased by management will be subject to a voluntary lock-up period of at least  24 months.  Management will be subject to the Company’s insider trading policy and the SEC reporting obligations.

Ms. Li Qiao, Chairwoman of the Hollysys board, said, "management’s plan to purchase public market shares demonstrates management’s confidence in the Company and their ongoing commitment to delivering value to our shareholders."

About Hollysys Automation Technologies Ltd.

Hollysys is a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions throughout Asia. Leveraging its proprietary technology and deep industry know-how, Hollysys empowers its customers with enhanced operational safety, reliability, efficiency, and intelligence which are critical to their businesses. Hollysys derives its revenues mainly from providing integrated solutions for industrial automation and rail transportation. In industrial automation, Hollysys delivers the full spectrum of automation hardware, software, and services spanning field devices, control systems, enterprise manufacturing management and cloud-based applications. In rail transportation, Hollysys provides advanced signaling control and SCADA (Supervisory Control and Data Acquisition) systems for high-speed rail and urban rail (including subways). Founded in 1993, with technical expertise and innovation, Hollysys has grown from a research team specializing in automation control in the power industry into a group providing integrated automation control system solutions for customers in diverse industry verticals. Hollysys had cumulatively carried out more than 30,000 projects for approximately 17,000 customers in various sectors including power, petrochemical, high-speed rail, and urban rail, in which Hollysys has established leading market positions.

SAFE HARBOUR

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Such forward-looking statements, based upon the current beliefs and expectations of Hollysys’ management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contact information:
Hollysys Automation Technologies Ltd.
www.hollysys.com
+8610-5898-1386
investors@hollysys.com

Related Links :

http://www.hollysys.com

PR Newswire

Hollysys’ Board of Directors Rejects Unsolicited Offer

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BEIJING, Jan. 8, 2021 — Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), today announced that its Board of Directors (the "Board"), after careful review and consideration and with the assistance of its executive management team as well as outside financial and legal advisors, has determined that the unsolicited offer made by Mr. Baiqing Shao, CPE Funds Management Limited and purportedly on behalf of Ace Lead Profits Limited (collectively, the "Consortium") on December 7, 2020, to acquire all of the outstanding ordinary shares of the Company for $15.47 in cash per ordinary share, substantially undervalues the Company and is not in the best interest of the Company’s shareholders.

"Our Board is confident in Hollysys’ strategic direction," said Ms. Li Qiao, Chairwoman of Hollysys. "We believe that the Company has significant value creation potential as a result of its leading position in the automation industry and strong research and development capabilities.  Our pursuit of enhanced operational safety, reliability and efficiency, supported by our proprietary technology and industry know-how, enable us to provide better integrated solutions to our customers and allow us to continue to deliver value to our shareholders.  We believe the Consortium’s unsolicited proposal would deprive our shareholders of the value inherent in Hollysys for inadequate consideration.  Our Board is committed to enhancing value for the Company’s shareholders and will protect shareholders against non-strategic or undervalued proposals."

About Hollysys Automation Technologies Ltd.

Hollysys is a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions throughout Asia. Leveraging its proprietary technology and deep industry know-how, Hollysys empowers its customers with enhanced operational safety, reliability, efficiency, and intelligence which are critical to their businesses. Hollysys derives its revenues mainly from providing integrated solutions for industrial automation and rail transportation. In industrial automation, Hollysys delivers the full spectrum of automation hardware, software, and services spanning field devices, control systems, enterprise manufacturing management and cloud-based applications. In rail transportation, Hollysys provides advanced signaling control and SCADA (Supervisory Control and Data Acquisition) systems for high-speed rail and urban rail (including subways). Founded in 1993, with technical expertise and innovation, Hollysys has grown from a research team specializing in automation control in the power industry into a group providing integrated automation control system solutions for customers in diverse industry verticals. Hollysys had cumulatively carried out more than 30,000 projects for approximately 17,000 customers in various sectors including power, petrochemical, high-speed rail, and urban rail, in which Hollysys has established leading market positions.

SAFE HARBOUR

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including statements regarding: the ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Such forward-looking statements, based upon the current beliefs and expectations of Hollysys’ management, are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

Contact information:
Hollysys Automation Technologies Ltd.
www.hollysys.com
+8610-5898-1386
investors@hollysys.com

Related Links :

http://www.hollysys.com

PR Newswire

Cotecna acquires Fitosoil Laboratorios SL

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GENEVA, Jan. 6, 2021 — Cotecna is pleased to announce the acquisition of Fitosoil Laboratorios SL, a leading Spanish laboratory in the agriculture and food safety market. Founded and managed by Don Antonio Abellán, Fitosoil employs 70 highly qualified technicians in its laboratory based in Murcia.

Fitosoil provides its clients with a complete range of services from agronomy to chemical testing on a wide range of products, with a focus on fruits and vegetables and fertilizers. Fitosoil holds a leading position in the fertilizer sector, for which they have developed advanced analytical techniques at international level and enjoy one of the largest accreditation scopes in Europe.

The acquisition of Fitosoil, following the ones of NOFA in the Netherlands and NEOTRON in Italy, allows Cotecna to further expand its European laboratory network and expertise in the food safety sector. With more than 5000 employees and a network of over 100 offices and laboratories around the world, Cotecna is a leading provider of Testing, Inspection and Certification services (TIC) in the agriculture and food supply chains.

"This acquisition is part of our strategy to expand our presence in the food testing market and increases our service portfolio in the broader agri-food segment. Fitosoil unique reputation and analytical skills in the fertilizer, agronomy and fruit and vegetable sectors strengthens Cotecna’s offering and capabilities to support the trend for more organic and sustainable farming. Fitosoil also reinforces our position in Spain which is a key growth area for the Group," said Sébastien Dannaud, CEO of Cotecna.

Don Antonio Abellán, Managing Director of Fitosoil Laboratorios SL, and his team will continue leading Fitosoil on its new journey within the Cotecna group. "I am pleased to join the Cotecna family. I saw in Cotecna the same spirit and founding principles that have shaped the development of Fitosoil: entrepreneurship, family business approach, technical predominance. The international network of Cotecna will certainly provide growth opportunities for Fitosoil and the complementarities with its current inspection, certification and testing activities are very strong".

Cotecna Press
Corporate Communications
+41 22 849 78 21
communication@cotecna.com

Guido DORI
Chief Development Officer
Cotecna Inspection SA
M +41 79 123 50 69
Direct Line: +41 22 849 69 33

Julie ENGELEN
Corporate Communication Director
T. +41 22 849 78 21
M +41 79 123 44 24
www.cotecna.com

About Cotecna
Cotecna is a leading provider of testing, inspection and certification services. We offer solutions to facilitate trade and make supply chains safer and more efficient for our clients. Our trusted network of professionals and certified laboratories provide expertise across five key sectors: government & trade solutions, agriculture, food safety, minerals & metals, and consumer goods & retail. Founded in Switzerland in 1974, Cotecna started off as a family business and has now grown to become a world-class international player with over 5,000 employees in more than 100 offices across approximately 50 countries.

Related Links :

https://www.cotecna.com/

http://.cotecna.com