IRONNET CONCLUDES BUSINESS COMBINATION WITH LGL SYSTEMS ACQUISITION CORP

KUALA LUMPUR, Aug 30 (Bernama) -- IronNet Inc (IronNet), an innovative leader transforming cybersecurity through Collective Defense, announced it has completed its previously announced business combination with LGL Systems Acquisition Corp (LGL).

According to a statement, the transaction was unanimously approved by LGL’s Board of Directors and approved at a special meeting of LGL stockholders on Aug 26. In connection with the closing, LGL changed its name to IronNet Inc (IronNet or the Company).

“We are excited to complete this business combination, which will position IronNet to truly transform and scale cyber defence for more organisations around the world,” said Founder and co-Chief Executive Officer of IronNet, GEN (Ret.) Keith Alexander.

“As a public company, we intend to apply our increased financial resources to accelerate product innovation for our customers and expand our portfolio of offerings.”

The transaction results in gross proceeds of approximately US$136.7 million to IronNet, which includes cash from LGL’s former trust account and proceeds from a private investment in public equity transaction funded concurrently with the closing of the business acquisition. (US$1 = RM4.176)

IronNet will use the proceeds to generally support continued global growth. All IronNet shareholders have rolled 100 per cent of their equity holdings into the new public company.

IronNet’s Board of Directors will comprise 11 members, nine of whom are ‘independent directors’ as defined in the NYSE listing standards and applicable US Securities and Exchange Commission (SEC) rules.

Founded in 2014, IronNet offers a radically different operational model for cybersecurity defence that enables companies to break away from having to defend in isolation.

IronNet has a proven ability to detect hidden intrusions that no other tools can see and a real-time threat sharing platform that brings speed and precision to security teams and, for the first time, enables companies to detect and collaborate in real time.

More details at www.ironnet.com.

-- BERNAMA

EPICOR NAMED AS A VISIONARY IN GARTNER® 2021 MAGIC QUADRANT™

 For the third consecutive year, the Gartner report recognizes Epicor for its vision and execution


Austin, Texas, Aug 30 (Bernama-GLOBE NEWSWIRE) -- Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, has been named a Visionary in the 2021 Gartner Magic Quadrant for Cloud ERP for Product-Centric Enterprisesⁱ  for the third consecutive year.  A complimentary copy of the report is available here.

“We believe that placement in the Visionary quadrant reinforces our focus on building Kinetic with our customers, for our customers,” said Epicor President Himanshu Palsule. “Kinetic has the functionality necessary to run a modern, future-ready, manufacturing business looking to capitalize on data, transform digitally in the Cloud, and innovate without limits. The partnership with our customers is critical. And that’s why we prioritize customer touch-points and feedback that influence our product innovation.” 

Epicor operates in 150 countries around the world with 20,000 customers utilizing its expertise and solutions to improve performance and profitability for manufacturing, distribution, and retail.
 
Gartner Disclaimer

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

GARTNER and Magic Quadrant are registered trademarks and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and are used herein with permission. All rights reserved.

About Epicor Software Corporation

Epicor Software Corporation equips hard-working businesses with enterprise solutions that keep the world turning. For nearly 50 years, Epicor customers in the automotive, building supply, distribution, manufacturing, and retail industries have trusted Epicor to help them do business better. Epicor’s innovative solution sets are carefully curated to fit customer needs and built to respond flexibly to their fast-changing reality. With deep industry knowledge and experience, Epicor accelerates every customer’s ambitions, whether to grow and transform, or simply become more productive and effective. Visit www.epicor.com for more information.

#  #  #

Epicor and the Epicor logo are trademarks of Epicor Software Corporation, registered in the United States and other countries. Other trademarks referenced are the property of their respective owners. The product and service offerings depicted in this document are produced by Epicor Software Corporation. Results are not guaranteed, and each user’s experience will vary.


[i] Gartner Inc., “Magic Quadrant for Cloud ERP for Product-Centric Enterprises,” by Tim Faith, Paul Schenck, Denis Torii, Dixie John, and Abhishek Singh (August 24, 2021).


Ogilvy
epicorus@ogilvy.com


SOURCE : Epicor Software

TAI ER MAKES SPLASH WITH MAIDEN SAUERKRAUT FISH OUTLET IN SINGAPORE

KUALA LUMPUR, Aug 27 (Bernama) -- Riding the recent wave of popular Chinese food and beverage brands entering Singapore, Tai Er Chinese Sauerkraut Fish has opened its first store at the Jewel Changi Airport recently.

On the day of the official opening, the restaurant was full, with guests queuing outside as they waited to dine.

The restaurant’s decor is centered around the simple black-and-white logo and motif popular in the company’s China restaurants.

Guests are able to see the kitchen through a transparent window, to check the hygiene conditions or simply marvel at the kitchen’s sights and smells – the swirling of hot oil around the pan, the crackle and pop of stir-fried chilis, and the scattering of chrysanthemum petals.

All the original elements of Tai Er, as well as the unique operation philosophy, can be found in the restaurant, according to a statement.

As a professional of traditional Sichuan cuisine, Tai Er’s Singapore store features a number of classical Sichuan dishes besides the signature Chinese sauerkraut fish.

A black envelope could be found on each of the seats in the restaurant. Inside each envelope was a letter written by a Chinese fan to their new ‘friends’ in Singapore, explaining how to get the most from their Tai Er experience.

In China, Tai Er’s features such as ‘tagline exchanges’ and ‘Bro Er’ are hugely popular among younger patrons.

With 300 restaurants across China and 12 million fans, business is booming at Tai Er, with some Chinese fans saying they would wait as long as three hours during holidays for a bite of that tasty sauerkraut fish.

In Tai Er’s dishes, the seasonings used - sauerkraut, chilis, Sichuan peppers – are imported direct from Sichuan Province. 

-- BERNAMA

GRAFANA LABS RAISES $220M TO ACCELERATE GLOBAL ADOPTION AND DEVELOPMENT OF OPEN SOURCE VISUALIZATION AND OBSERVABILITY PLATFORM

Company strengthens board of directors with enterprise software veterans, announces addition of tracing to its full Grafana Cloud observability platform.

NEW YORK, Aug 25 (Bernama-GLOBE NEWSWIRE) -- Grafana Labs, the company behind the world’s most ubiquitous open and composable operational dashboards, today announced a $220 million Series C investment round, co-led by new investors Sequoia Capital and Coatue, with participation from existing investors Lightspeed Venture Partners, Lead Edge Capital, and GIC. The new investment values Grafana Labs at $3 billion (for crypto fans, that’s more than 60,500 BTC as of August 23 at 22:00 UTC), more than ten times the valuation of the Series A round just two years ago. As part of the funding, Carl Eschenbach, partner at Sequoia and former President and COO at VMware, and David Schneider, general partner at Coatue and former President at ServiceNow, will be joining the company’s board of directors.

The “actually useful” free forever tier of Grafana Cloud provides the industry’s most generous no-cost observability stack, and with the funding round, Grafana Labs is adding 50GB of traces to the 50GB of logs, 10,000 series of Prometheus metrics, and 3 Grafana dashboard users that come with the free offering. Both Grafana Cloud and the on-premises Grafana Enterprise Stack offering include access to free and commercial plugins, such as Elasticsearch, Jira, Datadog, Splunk, AppDynamics, Oracle, MongoDB, Snowflake, ServiceNow, and more.

“It’s been an incredible year at Grafana Labs, highlighted by the rapid adoption of Grafana Cloud, the growth of our Loki logs and Prometheus metrics offerings, the introduction of Tempo 1.0 for tracing, and the continued development of the Grafana frontend,” said Raj Dutt, co-founder and CEO at Grafana Labs. “This new investment of capital, as well as the addition of two highly experienced technology executives to our board, will focus us on accelerating product development to support our community’s and customers' success.” 

http://mrem.bernama.com/viewsm.php?idm=40839

ANALOG DEVICES COMPLETES ACQUISITION OF MAXIM INTEGRATED

 

WILMINGTON, Mass., Aug 27 (Bernama-BUSINESS WIRE) -- Analog Devices, Inc. (NASDAQ: ADI) today announced the completion of its previously announced acquisition of Maxim Integrated Products, Inc. (NASDAQ: MXIM). The combination further strengthens ADI’s position as a high-performance analog semiconductor company with trailing twelve-month revenue of over $9 billion¹, industry leading margins, and free cash flow of over $3 billion¹ on a pro forma basis.

“Today is a tremendous milestone for ADI and I’m delighted to welcome the Maxim team, who share our passion for solving our customers’ most complex technology problems,” said Vincent Roche, President and CEO. “With more than 10,000 engineers and the increased breadth and depth of our best-in-class technologies, we are well-positioned to develop even more complete, cutting-edge solutions for our customers. Together, we will drive the next waves of analog semiconductor innovation, while engineering a healthier, safer and more sustainable future for all.”

Under the terms of the definitive agreement, Maxim stockholders received 0.63 of a share of ADI common stock for each share of Maxim common stock. Maxim common stock will no longer be listed for trading on the NASDAQ stock market.

Combined Board of Directors

In connection with the closing of the transaction, Tunç Doluca, former President and Chief Executive Officer of Maxim, and Mercedes Johnson, former Founding Executive of Avago Technologies, will join the ADI Board of Directors. Mr. Doluca and Ms. Johnson served on Maxim’s Board of Directors until the closing of the transaction.

Special Investor Conference Call and Webcast

ADI plans to host a webcast to discuss its upcoming capital allocation priorities and the updated fourth quarter fiscal 2021 outlook. The webcast is scheduled to begin at approximately 8:30 a.m. Eastern Time on September 8^th, 2021 with Vincent Roche, President and Chief Executive Officer, Prashanth Mahendra-Rajah, Senior Vice President, Finance and Chief Financial Officer, and Michael Lucarelli, Senior Director of Investor Relations.

The webcast and accompanying presentation may be accessed live on the internet on Analog Devices’ Investor Relations website at investor.analog.com, or by telephone as follows:

Participant Dial-In (domestic & international): (833) 423-0297
International Participant Passcode: 8334230297
*no passcode required for domestic dial-in

A replay of the conference call will be available approximately two hours after the call concludes and may be accessed for up to two weeks, by dialing 855-859-2056 and entering the conference ID: 7115409.

Both the press release and archived version of the webcast will be available at investor.analog.com.

About Analog Devices

Analog Devices, Inc. (NASDAQ: ADI) operates at the center of the modern digital economy, converting real-world phenomena into actionable insight with its comprehensive suite of analog and mixed signal, power management, radio frequency (RF), and digital and sensor technologies. ADI serves 125,000 customers worldwide with more than 75,000 products in the industrial, communications, automotive, and consumer markets. ADI is headquartered in Wilmington, MA. Visit http://www.analog.com.

Forward-Looking Statements

This communication contains “forward-looking statements” within the meaning of the federal securities laws. Forward-looking statements address a variety of subjects, including, for example, statements as to the anticipated benefits of the transaction, the anticipated impact of the transaction on the combined organization’s business and future financial and operating results, and the expected amount and timing of synergies from the transaction. Statements that are not historical facts, including statements about ADI’s beliefs, plans and expectations, are forward-looking statements. Such statements are based on ADI’s current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “will,” “estimate,” “would,” “target” and similar expressions, as well as variations or negatives of these words. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the uncertainty as to the extent of the duration, scope and impacts of the COVID-19 pandemic; political and economic uncertainty, including any faltering in global economic conditions or the stability of credit and financial markets; erosion of consumer confidence and declines in customer spending; unavailability of raw materials, services, supplies or manufacturing capacity; changes in geographic scope or product or customer mix; changes in export classifications, import and export regulations or duties and tariffs; changes in ADI’s estimate of its expected tax rate based on current tax law; ADI’s ability to successfully integrate Maxim’s businesses and technologies; the risk that the expected benefits and synergies of the transaction and growth prospects of the combined company may not be fully achieved in a timely manner, or at all; adverse results in litigation matters, including the potential for litigation related to the transaction; the risk that ADI will be unable to retain and hire key personnel; unanticipated difficulties or expenditures relating to the transaction, the response of business partners and retention as a result of the transaction; uncertainty as to the long-term value of ADI’s common stock; and the diversion of management time on transaction-related matters. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to ADI’s and Maxim’s respective periodic reports and other filings with the Securities and Exchange Commission, including the risk factors contained in ADI’s and Maxim’s most recent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Forward-looking statements represent management’s current expectations and are inherently uncertain and are made only as of the date hereof. Except as required by law, ADI does not undertake or assume any obligation to update any forward-looking statements, whether as a result of new information or to reflect subsequent events or circumstances or otherwise.

(ADI-WEB)

________________________________

1 Based on trailing twelve months ending July 31, 2021 for Analog Devices and trailing twelve months ending June 26, 2021 for Maxim. Free cash flow is defined as net cash provided by operating activities, determined in accordance with GAAP, less additions to property, plant and equipment, net.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20210826005486/en/

Contact

Contacts for ADI
Investor Contact:
Mr. Michael Lucarelli
781-461-3282
investor.relations@analog.com

Media Contact:
Ms. Brittany Stone
917-935-1456
Brittany.Stone@teneo.com

Source : Analog Devices, Inc.

HYLAND REPORTS INCREASE IN CLOUD SERVICES ADOPTION

KUALA LUMPUR, Aug 27 (Bernama) -- Hyland, a leading content services provider, has reported a global trend towards cloud-based technology and services investment across the APAC region.

Based on a statement, this is directly attributed to a rise in work-from-home (WFH) employees across the region, as organisations move to adapt to new business conditions.

According to recent statistics from Deloitte, a potential 50 million jobs could switch to remote work across the ASEAN-6 countries over the next few years, giving rise to an acceleration of digital transformation initiatives across the region, as companies seek to better equip employees who may be working remotely.

"We are seeing a significant shift in mentality in every industry across the region, from organisations wishing to increase the range and improve delivery of the tools their employees require for optimum business efficiency.

“Even in areas that have traditionally eschewed cloud-based subscription models, large enterprise has shifted towards embracing this more flexible way of doing business," reports Hyland APAC AVP, Eugene Chng.

Hyland, which has several data centres across the APAC region, in countries including Australia, New Zealand, and Japan, offers cloud-based solutions across a wide range of content services applications such as enterprise search, robotic process automation (RPA) and intelligent capture.

Ranked as a leader in the Gartner Magic Quadrant for content services for the past 11 years, Hyland has made significant acquisitions over the past 12 months to broaden the range of solutions and services the company can provide.

More details at https://www.hyland.com/en-SG.

-- BERNAMA

HSBC buys AXA Singapore, reflecting island-republic life insurance growth potential - AM Best

KUALA LUMPUR, Aug 26 -- The recent agreement to acquire AXA Insurance Pte Ltd (AXA Singapore) by HSBC Insurance (Asia-Pacific) Holdings Ltd (HSBC Insurance) demonstrates the continued growth potential of Singapore’s life insurance segment, according to a new AM Best commentary.

In its new Best’s Commentary, ‘HSBC’s Acquisition of AXA Singapore Highlights Singapore Life Insurance Growth Prospects’, AM Best states demand for long-term financial planning and health protection is continuing to support Singapore’s life insurance market prospects.

The HSBC Insurance-AXA Singapore deal takes place at a time when the Singapore life market has seen a strong rebound in weighted new business premiums recorded in the first half of 2021. In addition, recent and future life insurance growth is expected to be supported by the city-state’s attractiveness as a home for affluent and high net worth individuals.

Generally, AM Best is of the view that life insurance companies with international expertise in investment and wealth management have notable advantages in designing sophisticated products with more attractive investment terms and features — an important value proposition amid the current low-interest rate environment.

Nonetheless, life insurers with product offerings that include significant investment risks/guarantees have to balance the attractiveness of these products with the capital requirements that arise for the insurer.

According to a statement, the health and employee benefits lines of business also remain important growth drivers for life insurers in Singapore.

In Singapore, aside from group health business, which delivered adequate profitability last year, health insurance is viewed as a difficult line of business due to the weak results of long-term individual policies.

United States-headquartered AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry.

For more information, visit www.ambest.com.

-- BERNAMA

Endace, Kemp Technologies partnership offers security, network teams deep visibility

KUALA LUMPUR, Aug 25 -- Packet capture authority, Endace, and network intelligence and application experience [AX] leader, Kemp Technologies have announced a technology partnership to help security, network and application teams dramatically reduce network investigation and incident response times while improving accuracy.

The enhanced network flow metadata generation and intelligent traffic monitoring that Kemp’s Flowmon Probes provide now integrates with the EndaceProbe’s definitive, packet-level forensics.

Security, network and application teams can accelerate investigation and resolution of incidents and threats by combining rich metadata, intelligent traffic monitoring and a complete packet-level history of network activity.

“The complete network evidence that Kemp Flowmon and EndaceProbe provide gives teams the full context they need to quickly and accurately determine the scope and severity of security threats.

“This insight enables our customers to prioritise and respond swiftly to the most threatening of cybersecurity events,” said Endace CEO, Stuart Wilson in a statement.

Meanwhile, Kemp Technologies CTO, Pavel Minařík said: “Kemp Flowmon rich network flow data integrated with Endace’s 100 per cent accurate, always-on packet recording lets customers detect and respond to security and network threats more quickly, effectively and efficiently.”

Endace specialises in high-speed, scalable packet capture for cybersecurity, network and application performance.

For more information, visit www.endace.com

-- BERNAMA

ETAN HON PRODUCT MANAGER OF TURBO AFTERMARKET SERVICES FOR NIKKISO CRYOGENIC SERVICES

KUALA LUMPUR, Aug 25 (Bernama) -- Nikkiso Cryogenic Industries’ Clean Energy & Industrial Gases Group (Group), a subsidiary of Nikkiso Co Ltd (Japan), announced Etan Hon has been appointed Product Manager of Turbo Aftermarket Services (AMS) for the Nikkiso Cryogenic Services unit (NCS).

This addition to their management team supports the Group’s objectives to further grow their AMS for Turboexpanders. The Turbo All Brands line will also expand to support and service more brands, including ACD, Rotoflow, Atlas Copco, and Cryostar, among others.

“The NCS team is excited to have Etan in this new Turbo AMS Product Management role. His years of experience and focus on customer service has exceeded our expectations. I’m looking forward to his success continuing in this new role,” said NCS President, Jim Estes.

According to a statement, Hon received a degree in Aerospace engineering from the University of California, San Diego. He started his career by providing oilfield services to customers within the oil & gas industry in Texas working for Schlumberger and Baker Hughes.

In 2017, he joined ACD LLC as a Field Service Manager. After the acquisition by Nikkiso in 2019, he transitioned into the role of Service Manager of Turbo AMS for NCS and helped move the ACD Turbo AMS division into a new facility in Irvine, CA.

Nikkiso Cryogenic Services provides service and support globally, including locations in Malaysia, Germany, India, Australia, Taiwan and China as well as six locations in North America.

Cryogenic Industries Inc (now a member of Nikkiso Co Ltd) member companies manufacture engineered cryogenic gas processing equipment and small-scale process plants for the liquefied natural gas (LNG), well services and industrial gas industries.

-- BERNAMA

CONAGEN LAUNCHES FERMENTATION-MADE NATURAL PRESERVATIVE

KUALA LUMPUR, Aug 25 (Bernama) -- As the ‘clean label’ trend thrives in many consumer product categories, Massachusetts-based biotech Conagen has announced the launch of a natural preservative, p-Coumaric Acid (PCA).

According to a statement, Conagen's PCA is made by fermentation and expands the natural preservatives offered by its commercialisation partner Blue California.

The natural preservation market is driven by consumer exploration of clean-label food, beverage, personal care, and cosmetic product which do not contain artificial ingredients while still possessing extended shelf life.

"Our PCA expands the toolbox for product developers looking for a scalable, low cost-in-use, natural solution for increasing the shelf life of food without interfering with the flavour of their products," said Conagen's Vice President of Innovation, Dr Casey Lippmeier.

Food and beverage manufacturers are moving away from artificial ingredients in their processing and packaging methods.

Therefore, new sources of natural preservatives, such as Conagen's natural, fermentation-derived PCA, are ideal for brands to make a seamless change from synthetic preservation ingredients to natural ones.

PCA is a natural antioxidant and antimicrobial compound found in all plants, primarily peanuts, tomatoes, carrots, basil, and garlic. It is a key constituent of vinegar and honey.

Conagen produces PCA by an innovative precision fermentation process. This technology enables the cultivation of micro-organisms programmed to create sustainable, natural ingredients with high purity at a price competitive with synthetic PCA. 

Last year, Blue California and Conagen jointly announced the commercialisation of a 98 per cent pure natural preservative, Rosavel™ rosmarinic acid, without the intensity of rosemary flavour and colour as with most synthetic ingredients.

More details at www.conagen.com.

-- BERNAMA

EPIK TO LAUNCH MEMBERSHIP TOKEN $EPIK ON HUOBI PRIME, AUG 27

KUALA LUMPUR, Aug 25 (Bernama) -- Epik, which helps businesses license and produce immersive blockchain-powered in-game experiences and NFTs, announced it would partner with Huobi Global to launch its membership token, $EPIK, through their Huobi Prime programme.

According to a statement, Epik will be Huobi Prime #8 and will be available for sale on Aug 27. Huobi Prime is a selective programme that introduces new, cutting-edge asset projects to cryptocurrency traders.

Epik has created the world’s largest decentralised and cross-chain compatible network for digital collectibles, in-game experiences, and NFTs that gamers can utilise across both mainstream and crypto-based games comprising over 300 game companies and one billion gamers.

Acceptance into Huobi’s programme for a primary listing means an extremely high level of due diligence has been conducted on Epik and the $EPIK Prime token examining the legitimacy, revenues and overall health of the company.

$EPIK Prime is a membership token that powers a robust loyalty reward programme which offers new products, services, and benefits to token holders including earning exclusive rewards and the ability to pre-order items and digital collectibles.

$EPIK Prime will also provide benefits to holders in the Epikverse. The Epikverse is the name of the digital ecosystem and technology behind Epik’s consumer-facing capabilities – a truly innovative and disruptive virtual world experience.

Epik has made tremendous progress, and in the last 45 days since launching the $EPIK Prime platform, it has revealed major video game NFT partnerships with two games with over one billion downloads, Asphalt 9 and Garena’s Free Fire, along with two of the leading avatar-based games, Avakin Life and Second Life.

-- BERNAMA

ANALOG DEVICES AND MAXIM INTEGRATED ANNOUNCE CHINA ANTITRUST CLEARANCE FOR COMBINATION

 WILMINGTON, Mass. & SAN JOSE, Calif., Aug 24 (Bernama-BUSINESS WIRE) -- Analog Devices, Inc. (NASDAQ: ADI) and Maxim Integrated Products, Inc. (NASDAQ: MXIM) today announced that China’s State Administration for Market Regulation has given antitrust clearance for Analog Devices’ previously announced acquisition of Maxim.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210823005195/en/

The transaction has now received all required regulatory clearances. Analog Devices and Maxim anticipate that the transaction will close on or about August 26, 2021, subject to the satisfaction of the remaining customary closing conditions.

About Analog Devices

Analog Devices (Nasdaq: ADI) is a leading global semiconductor company dedicated to solving the toughest engineering challenges. We enable our customers to interpret the world around us by intelligently bridging the physical and digital with unmatched technologies that sense, measure, power, connect and interpret. Visit http://www.analog.com.

About Maxim Integrated

Maxim Integrated, an engineer’s engineering company, exists to solve the designer’s toughest problems in order to empower design innovation. Our broad portfolio of high-performance semiconductors, combined with world-class tools and support, delivers essential analog solutions including efficient power, precision measurement, reliable connectivity and robust protection along with intelligent processing. Designers in application areas such as automotive, communications, consumer, data center, healthcare, industrial and IoT trust Maxim to help them quickly develop smaller, smarter and more secure designs. Learn more at https://www.maximintegrated.com.

This press release contains forward-looking statements, which address a variety of subjects, including, for example, statements regarding Analog Devices, Inc.'s (“ADI”) proposed acquisition of Maxim Integrated Products, Inc. (“Maxim”) and the anticipated closing date for the proposed transaction. Statements that are not historical facts, including statements about ADI’s and Maxim’s beliefs, plans and expectations, are forward-looking statements. Such statements are based on ADI’s and Maxim’s current expectations and are subject to a number of factors and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. Forward-looking statements often contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “will,” “estimate,” “would,” “target” and similar expressions, as well as variations or negatives of these words. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: failure to satisfy remaining conditions to closing of the transaction between ADI and Maxim, on the anticipated timeline or at all; the uncertainty as to the extent of the duration, scope and impacts of the COVID-19 pandemic; political and economic uncertainty, including any faltering in global economic conditions or the stability of credit and financial markets, erosion of consumer confidence and declines in customer spending; unavailability of raw materials, services, supplies or manufacturing capacity; changes in geographic scope or product or customer mix; changes in export classifications, import and export regulations or duties and tariffs; changes in ADI’s or Maxim’s estimates of their expected tax rate based on current tax law; ADI’s ability to successfully integrate Maxim’s businesses and technologies; the risk that the expected benefits and synergies of the proposed transaction and growth prospects of the combined company may not be fully achieved in a timely manner, or at all; adverse results in litigation matters, including the potential for litigation related to the proposed transaction; the risk that ADI or Maxim will be unable to retain and hire key personnel; the risk associated with the timing of the closing of the proposed transaction, including the risk that the conditions to the transaction are not satisfied on a timely basis or at all or the failure of the transaction to close for any other reason or to close on the anticipated terms, including the anticipated tax treatment; unanticipated difficulties or expenditures relating to the transaction, the response of business partners and retention as a result of the announcement and pendency of the transaction; uncertainty as to the long-term value of ADI’s common stock; and the diversion of management time on transaction-related matters. For additional information about other factors that could cause actual results to differ materially from those described in the forward-looking statements, please refer to ADI’s and Maxim’s respective periodic reports and other filings with the Securities Exchange Commission, including the risk factors contained in ADI’s and Maxim’s most recent Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K. Forward-looking statements represent management’s current expectations and are inherently uncertain and are made only as of the date hereof. Except as required by law, neither ADI nor Maxim undertakes or assumes any obligation to update any forward-looking statements, whether as a result of new information or to reflect subsequent events or circumstances or otherwise.

(ADI-WEB)


View source version on businesswire.com: 
https://www.businesswire.com/news/home/20210823005195/en/

Contact

Contacts for ADI
Investor:
Mr. Michael Lucarelli
781-461-3282
investor.relations@analog.com

Media:
Ms. Brittany Stone
917-935-1456
Brittany.Stone@teneo.com

Contacts for Maxim
Investor:
Ms. Kathy Ta
408-601-5697
kathy.ta@maximintegrated.com

Media:
Ms. Ferda Millan
408-601-5429
Ferda.Millan@maximintegrated.com

Source : Analog Devices, Inc.

CYBERSECURITY FIRM VEHERE APPOINTS WAHAB YUSOFF AS ADVISOR TO THE BOARD

KUALA LUMPUR, Aug 23 (Bernama) -- Cyber Situational Awareness firm Vehere announced that Wahab Yusoff has joined as an Advisor to the Board.

According to a statement, he will be based out of Singapore and assisting Vehere on building its presence in the ASEAN Region.

Yusoff has over three decades of rich experience in Cybersecurity and Information Technology, focusing on assisting organisations to scale operations in the Asia Pacific Region, with expertise in IT Security and proven track record of driving corporate growth and development in the APAC region.

Additionally, he also serves on the Boards of Changi Airport Group, Workforce Singapore, EZ-Link Pte Ltd and Rekanext VC.

Vehere Founder & CSO, Praveen Jaiswal said: “With his nuanced understanding of the industry and business, Wahab adds great value and dimension in furthering Vehere’s growth ambitions in the ASEAN Region.

“His years of experience in business development in the region make him highly suitable to open newer markets for our products and attest the company’s command and ascendancy.”

Meanwhile, Yusoff said he was pleased to join Vehere and be part of the company’s exciting journey, with the hope of a meaningful collaboration to bolster Vehere’s vision of enhanced presence and expansion in the region.

Holding a Bachelor of Engineering degree from the National University of Singapore and Post Graduate degree in Finance, Strategic Planning, Marketing and HR from Heriot-Watt University, he is the Vice President of the Asia Pacific and Japan region for Forescout Technologies.

For more information on Vehere, visit https://vehere.com/

-- BERNAMA

"PROUD TO PIPETTE" CAMPAIGN CELEBRATES THE UNSUNG HEROES OF THE PANDEMIC

 

Singapore, Aug 23 (Bernama-GLOBE NEWSWIRE) --

• Medical technologists are vital to Singapore’s COVID-19 testing capabilities in the country’s bid to open up safely, but their efforts often go unnoticed by the public

• Since May 2021, medical technologists have processed nearly 70,000 COVID-19 tests a week, with more than 16 million tests completed throughout the pandemic

• Their stories will be shared on social media as part of the ‘Proud to Pipette’ campaign, celebrating their role supporting Singapore during the pandemic

The “Proud to Pipette” campaign celebrates the medical technologists in Singapore who work tirelessly in laboratories, hospitals and testing centers to process COVID-19 tests, supporting the country’s trace and track efforts.

Advanced MedTech Holdings (AMTH), a home-grown global medical technology leader, headquartered in Singapore, is spearheading the campaign.

The initiative aims to spotlight medical technologists, whose line of work often requires them to work round the clock, while risking their personal safety, as they handle active viral samples during the pandemic. They have been as essential as frontline healthcare workers in protecting Singapore, yet their efforts often go unnoticed.

Through their work, healthcare workers and contract tracing staff can rigorously track and trace infected persons to effectively manage any outbreaks.

At least 1,000 reusable masks with the campaign hashtag “ProudtoPipette” will be distributed, along with a QR code to redeem KOI bubble tea vouchers.

AMTH will identify these critical professionals through existing customer networks and social media.

To further honor their efforts, AMTH will spearhead a social media platform for medical technologists to share their untold stories of personal sacrifice during the pandemic. Follow their journey here.

Abel Ang, Group Chief Executive of Advanced MedTech, said “Medical technologists involved in testing are the unsung heroes of the pandemic. Like healthcare workers, they have toiled long hours with the constant risk of being exposed to the virus. This campaign seeks to honor their tremendous efforts to keep our country safe, with a unique reusable facemask that proudly identifies what they do, together with a popular drink enjoyed by many, in the testing laboratories.”

About Advanced MedTech Holdings

Advanced MedTech Holdings is a global medical technology leader with a core focus in urology devices and services. Headquartered in Singapore, with operations in US, Germany, Spain, France, Italy, China, Malaysia and Japan, the Company serves millions of patients and physicians in 100 countries worldwide. Advanced MedTech Holdings makes strategic investments in disruptive medical technology companies, strengthening its portfolio of healthcare solutions for customers around the world. Advanced MedTech Holdings is a wholly-owned subsidiary of Temasek. For more information on Advanced MedTech Holdings, please visit https://www.advanced-medtech.com/.

Advanced MedTech Media Contacts:

Thomas Harding / Khushboo Tanna / Maryanne Lee
Spurwing Communications
+65 6751 2021
advanced@spurwingcomms.com 

SOURCE : Advanced MedTech

ENDACE CELEBRATES 20TH ANNIVERSARY WITH US$20,000 DONATION TO THE GLAUCOMA FOUNDATION

KUALA LUMPUR, Aug 20 (Bernama) -- As part of its 20th anniversary celebration and its ‘year of giving back’, Endace is supporting The Glaucoma Foundation’s Art Challenge to Celebrate Vision with a corporate donation of US$20,000. (US$1 = RM4.236)

“It was important to us to mark this company milestone by making a difference. More than one million people per year are diagnosed with glaucoma. The Glaucoma Foundation’s mission to preserve and restore vision aligns strongly with our mission to provide visibility in networks,” said Endace Chief Executive Officer (CEO), Stuart Wilson.

“At Endace, we love to overcome difficult challenges, so helping The Glaucoma Foundation address the significant challenges of this debilitating condition feels like a very worthwhile project to support.”

According to a statement, artists (amateurs and professionals alike) enter The Glaucoma Foundation Art Challenge by submitting a digital image of their original work.

Every artist will be given a ‘challenge page’ where, at first, their work will appear blurry and pixelated. Your donation can bring their work into focus, and every gift made will be matched, dollar for dollar.

Endace encourages its friends, family, customers, and partners to support The Glaucoma Foundation’s efforts now through the end of the Art Challenge on Sept 15.

“Endace’s generous donation to the second annual TGF Art Challenge will provide patients with help for today and hope for the future,” said President and CEO of The Glaucoma Foundation, Elena Sturman.

The Glaucoma Foundation is leading the fight against the disease by promoting early diagnosis and funding vital research to identify and develop novel approaches to preserve visual function and reverse blindness caused by glaucoma.

Endace specialises in high-speed, scalable packet capture for cybersecurity, network and application performance. More details at www.endace.com.

-- BERNAMA

Arowana bags 3 Gold Stevie Awards at the 2021 International Business Awards

 

KUALA LUMPUR, Aug 20 -- Arowana, the established B Corporation accredited investment group, has been awarded three sought-after Gold Stevie Awards at the 18th Annual International Business Awards, the world’s premier business awards programme.

Arowana has been awarded Gold in Most Innovative Company of the Year (up to 100 employees), Achievement in Organization Recovery and Chairman of the Year, according to a statement.

Arowana was awarded a Gold Stevie for Most Innovative Company of the Year (up to 100 employees), recognising its unique purpose and approach to building companies that it invests in and operates.

As a B Corp, Arowana is selectively focussed on enterprises that serve a real purpose, working directly with companies that deliver a positive impact to all stakeholders.

Meanwhile, Arowana’s Gold Stevie Award for Achievement in Organization Recovery recognised its successful turnaround of VivoPower International.

In March 2020, VivoPower's share price was below US$1.00 with a market cap of US$10 million; seven months later, following a transformational intervention by Arowana, VivoPower’s price achieved an all-time high of US$24.00. (US$1 = RM4.236)

Founder and Chief Executive Officer of Arowana, Kevin Chin was awarded the Gold Stevie Award for Chairman of the Year for his leadership in successfully driving innovation across Arowana’s group of companies as well as for the execution of VivoPower’s turnaround.

Arowana was also awarded three Bronze Stevies for Company of the Year - Business or Professional Services (Medium-size), Energy Industry Innovation of the Year and Achievement in Growth.

-- BERNAMA

Hyatt enters definitive agreement to acquire Apple Leisure Group

KUALA LUMPUR, Aug 16 -- Hyatt Hotels Corporation has announced that Hyatt has entered into a definitive agreement to acquire Apple Leisure Group (ALG), a leading luxury resort-management services, travel and hospitality group, from affiliates of each of KKR and KSL Capital Partners LLC for US$2.7 billion in cash. (US$1 = RM4.241)

The transaction is anticipated to close in the fourth quarter of 2021, subject to customary closing conditions, according to a statement.

ALG’s resort brand management platform AMResorts® provides management services to the largest portfolio of luxury all-inclusive resorts in the Americas under the AMR™ Collection brand portfolio.

The acquisition also includes ALG’s membership offering, Unlimited Vacation Club®, travel distribution business ALG Vacations®, as well as destination management services and travel technology assets.

Following completion of the transaction, ALG’s business will continue to be led by current ALG Chief Executive Officer (CEO) Alejandro Reynal and the current ALG leadership team. Reynal will become a member of Hyatt’s executive leadership team and report to Hyatt CEO Mark Hoplamazian.

Hoplamazian, who is also Hyatt president, said: “The addition of ALG’s properties will immediately double Hyatt’s global resorts footprint.”

“ALG’s portfolio of luxury brands, leadership in the all-inclusive segment and large pipeline of new resorts will extend our reach in existing and new markets, including in Europe, and further accelerate our industry-leading net rooms growth.

“Importantly, the combination of this value-creating acquisition and the US$2 billion increase in our asset sale commitment will transform our earnings profile, and we expect Hyatt to reach 80 per cent fee-based earnings by the end of 2024.”

ALG’s hotel portfolio consists of over 33,000 rooms operating in 10 countries. The portfolio has grown from nine resorts in 2007, to approximately 100 properties by 2021-end and has a pipeline of 24 executed deals with a large number of additional hotels in the development process.

At closing, Hyatt expects to fund more than 80 per cent of the purchase with a combination of US$1.0 billion of cash on hand and new debt financings, and the remainder with approximately US$500 million from equity financing.

Hyatt has secured a US$1.7 billion financing commitment from J.P. Morgan. Cash proceeds from the US$2 billion asset sale programme are expected to be used to pay down debt, including debt incurred to fund the acquisition.

More details at www.hyatt.com.

-- BERNAMA

SMARTTRADE BAGS BEST FX AGGREGATOR AT FX MARKETS ASIA AWARDS 2021

KUALA LUMPUR, Aug 18 (Bernama) -- smartTrade Technologies, a leading provider of multi-asset electronic trading solutions, has won Best FX Aggregator for its LiquidityFX platform at the FX Markets Asia Awards 2021.

Chief Executive Officer of smartTrade Technologies, David Vincent, said: “We are proud to receive the Award for Best FX Aggregator once again. The expansion of our local presence underlines our commitment to the Asia-Pacific region – particularly important in crisis situations such as we experienced last year.”

According to a statement, smartTrade Liquidity FX provides sophisticated cross-asset aggregation for banks and brokers operating in regional FX markets.

The product supports a combination of currencies, order types and price tiering, with venue co-location in London, New York and Tokyo delivering low latency to market.

A truly multi-asset-class product, LiquidityFX supports a range of instruments including FX Spot, Forwards, Swaps, NDFS, Cryptocurrencies and Options.

The FX Markets Asia Awards recognise the best banks, dealers, brokers and currency managers in the Asia-Pacific region, focusing this year on firms which developed unique and innovative ways to respond to industry needs during the COVID-19 pandemic.

smartTrade was lauded for its unique value proposition of being the only FX aggregator developed in Asia, as well as for its focus on technology that offers optimum performance in terms of system capacity and latency.

More details at www.smart-trade.net.

-- BERNAMA

EDUCATORS ASSEMBLE FOR BLACKBOARD TEACHING AND LEARNING CONFERENCE ASIA PACIFIC 2021

KUALA LUMPUR, Aug 18 (Bernama) -- Educators from India, Malaysia, the Philippines, Singapore, Australia, New Zealand and the Asia Pacific region are convening virtually for a two-day free event, beginning today, for the Blackboard Teaching and Learning Conference Asia Pacific (TLC) 2021.

The event, created and hosted by global education technology leader Blackboard, went virtual for the first time last year.

It is aimed at bringing the education community across the region together to share and learn from one another, according to a statement.

Delegates to the event will discuss issues including educator empowerment, change management, assessment practices, academic integrity, driving learner success and optimising the student experience.

"It has been a challenging 18 months for learners, educators and everyone in the education industry globally. Now, more than ever, it's important for us to come together as a community," said Blackboard Vice President Asia Pacific, Yves Dehouck.

"The silver lining of hosting TLC virtually again this year is that we have been able to broaden the reach of the event, making the lessons learned during the pandemic more accessible to more people across the Asia Pacific region," he said.

TLC Asia Pacific 2021 will also offer more than 40 sessions, feature speakers from Australia, India, Japan, Malaysia, New Zealand, the Philippines and Singapore and include client-led sessions featuring case studies and showcasing their innovations based on Blackboard solutions.

For more information visit: https://bbtlcapac.com

-- BERNAMA

HYTERA NEW WEBSITE, VIRTUAL SHOWROOM TO DELIVER BETTER CUSTOMER EXPERIENCE DIGITALLY

 

KUALA LUMPUR, Aug 18 (Bernama) -- Hytera, the global leading provider of Professional Mobile Radio (PMR) solutions, has launched a new official website and virtual showroom.

This aims to provide visitors with a more user-friendly digital experience and showcase of Hytera’s innovative products, solutions, and online resources, to better reach and engage with a global audience, according to a statement.

“Hytera’s new website and virtual platform truly cement our commitment to empowering our customers and addressing their needs by delivering easy-access, easy-buy and easy-service features,” said Chief Marketing Officer of Hytera, Jim Luo.

The smart design and user-friendly navigation structure, as well as the product showcase and comparison functionality, all present visitors with a clear and direct introduction to Hytera’s latest and flagship products and solutions.

The new website also comes with a new section of industrial solutions such as public safety, oil & gas, mining, commercial and emergency response, along with an industry overview of specific scenarios, recommended products, and case studies.

These new interactive features will largely enhance the overall user experience and provide a faster and more informative decision-making process for industries looking for critical voice, video and data communication solutions.

Meanwhile, the on-demand Hytera Virtual Showroom provides a new platform for online customers. Here, visitors can digitally navigate around the showroom to receive a more comprehensive understanding of Hytera’s latest events, products, industrial solutions, and smart factory.

The showroom empowers enterprise customers to make better decisions through augmented reality (AR) virtual technology. This transformation allows website visitors to reimagine Hytera’s portfolio and sector solutions in a new augmented way and promises to deliver an immersive virtual tour.

More details at https://www.hytera.com/en/

-- BERNAMA

BCG DIGITAL VENTURES AND MISC ANNOUNCE CO-INVESTMENT IN THREE VENTURES TO DISRUPT THE MARITIME SOLUTIONS SPACE WITH DEEP TECH

 The co-investment is set to revolutionize the international shipping industry by improving marine safety and introducing digitalized decarbonization and inventory management


LOS ANGELES, Aug 17 (Bernama-BUSINESS WIRE) -- BCG Digital Ventures (BCGDV), the business-building and corporate innovation arm of Boston Consulting Group (BCG), today announced its previous investment in three ventures: SOL-X, Chord X, and Spares CNX.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210816005088/en/

BCGDV’s investment was made last year while the ventures were in stealth mode to allow for a deeper focus on business development activities, including staffing, product development, and target market acquisition.

With the objective of disrupting the shipping industry, BCGDV has also announced that the three maritime ventures are joining its broader portfolio of innovative businesses and products with the backing of BCGDV and leading international shipping company MISC Group.

These three separate start-ups differ in their approach, yet together they powerfully demonstrate the transformational power of strategically applying digital and deep tech, such as AI, ML, and IIoT, to create massive operational efficiencies across the shipping value chain in a way that has never been done before.

The ventures will be key drivers for the smart ship, which leverages automation and assistive technologies to ensure safety, efficiency, and environmental sustainability.

“With 90% of the world’s goods transported by ships, and considering the fragmented attempts at innovation, we believe these investments are going to be absolutely transformative to the maritime industry, as well as to industries such as mining, energy, and industrial goods,” said Sid Shah, Managing Director & Partner and Global Leader of BCGDV’s Energy Practice. “We couldn’t be more excited to support these teams on their bold journeys.”

All three ventures are based in Singapore, a critical hub for BCGDV that was recently placed at the top of the IMD World Competitive Center’s ranking in digital competitiveness.

The Ventures

SOL-X is redefining maritime safety by creating an industry-first Safety 4.0 company centered on human factors. Combining deep industry knowledge with IIoT and predictive AI, SOL-X focuses on improving safety and compliance outcomes, increasing operational productivity, and enhancing crew well-being. With 66% of maritime incidents caused by human error, SAFEVUE.ai, the company’s flagship solution, addresses the core of human factors by combining the Control of Work with crew well-being data to deliver near real-time safety intelligence on the edge. SOL-X recently signed a multiyear fleetwide agreement to partner with Eaglestar and meet the maritime industry’s ever-increasing demands for operational and safety excellence.

Chord X, a maritime data analytics company, is advancing ship management by utilizing sensors, data integration and analytics, machine learning, and human experts to achieve operational and emission efficiency in large maritime assets. Chord X provides predictive insights to customers, enabling them to take immediate corrective actions on their maritime assets’ equipment and keeping their performance at its optimal best.

Chord X measures and analyzes the emission footprint of maritime assets. It also provides an emission module that supports regulatory reporting compliance, enabling increased oversight over carbon tax with greater accuracy than current methods, and it is working toward providing insights for maritime asset operators to use and control in weighing operational decisions that impact the emission footprint of their maritime assets. Chord X achieves reduced asset operating expenditures, enhanced asset reliability, and cleaner combustion for maritime asset owners and operators.

Spares CNX is reinventing the shipping supply chain by providing an automated inventory management solution that can track the life cycle of spare parts on shore and across the fleet. An integrated hardware and software solution, PROPELLER Ship, uses RFID, QR, and other imaging technologies to monitor the location and consumption of spares. Onboard vessel engineers follow the intuitive workflows that are built into the portable tablet as they perform their day-to-day operations. The device interacts with the pretagged spare parts, ensuring that accurate and complete information is captured at the time and place of work while data flows seamlessly to the existing PMS or ERP systems.

The accompanying AI-driven analytics platform, PROPELLER Shore, empowers managers and procurement officers with actionable insights and recommendations for stock level optimization, rebalancing, and forward bulk procurement opportunities.

With this unique approach, Spares CNX addresses an inventory inaccuracy problem that costs the global shipping industry up to $2 billion annually in spend leakage on spare parts, with massive second-order implications on day-to-day operations. In addition to the rich feature set in the market today, Spares CNX is building capabilities to address frictions around FIFO, consumable goods, onshore warehouse partner integrations, and many other areas.

"We are proud to invest in these three digital start-ups, which in many ways allow us to explore available opportunities to harness the power of digitalization in the maritime industry. The challenges faced by the shipping industry brought about by the global COVID-19 pandemic have forced us to rethink our approaches and operational practices,” said Mr. Yee Yang Chien, President/Group CEO of MISC. “I believe that in order for us to move forward, we must be bold in exploring the endless opportunities to further improve operational excellence in various areas, including safety and process efficiency. I am confident about the prospects that the three digital ventures offer and that this partnership will enhance our contribution toward the sustainability of MISC Group’s environmental, social, and governance agenda.”

Additional information about the co-investment by BCG Digital Ventures and MISC in Sol-X, Chord X and Spares CNX, can be found here.

About BCG Digital Ventures

BCG Digital Ventures is a corporate innovation, incubation, and investment firm. We invent, launch, scale, and invest in industry-changing new businesses with the world’s most influential companies. Our diverse, multidisciplinary team of entrepreneurs, operators, and investors works cross-functionally, rapidly moving from paper to product to business in less than 12 months. Founded in 2014 as a subsidiary of Boston Consulting Group, we have Innovation Centers and satellite locations in four continents and continue to expand our footprint across the globe.

About MISC

MISC Berhad (MISC) was incorporated in 1968 and is a world-leading provider of international energy-related maritime solutions and services. The principal businesses of the Group comprise energy shipping and its related activities, owning and operating offshore floating solutions, marine repair and conversion, engineering and construction works, integrated marine services, port and terminal services, and maritime education and training.

As of 31 December 2020, MISC Group’s fleet consists of more than 100 owned and in-chartered vessels comprising Liquefied Natural Gas (LNG), Petroleum, and Product vessels, Very Large Ethane Carriers (VLECs), 14 Floating Production Systems (FPS), and two (2) LNG Floating Storage Units (FSUs). The fleet has a combined deadweight tonnage (dwt) capacity of more than 11 million tonnes.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20210816005088/en/

Contact

Jenny Savage
BCG Digital Ventures
Jenny.Savage@bcgdv.com

Leo Grayson
Chord X
Leo.grayson@chordx.co

Alister Leong
Sol-X
Alister.leong@sol-x.co

Anthon Hollstein-Ivarsson
Spares CNX
anthon.hollstein-ivarsson@sparescnx.com

Source : BCG Digital Ventures

BAKKEN ENERGY REACHES AGREEMENT TO PURCHASE DAKOTA GASIFICATION COMPANY ASSETS

 Transformational plan to develop $2 billion North Dakota Hydrogen Hub and make Bakken Energy the largest and lowest-cost clean hydrogen producer in the USA


Bismarck, ND and Westlake Village, CA, Aug 17 (Bernama-GLOBE NEWSWIRE) -- Clean energy infrastructure developer Bakken Energy (Bakken) today announced that it has reached agreement with Basin Electric Power Cooperative (Basin Electric) on key terms and conditions to purchase the assets of the Dakota Gasification Company (Dakota Gas), a subsidiary of Basin Electric, and the owner of the Great Plains Synfuels Plant (Synfuels Plant). The closing is subject to the satisfaction of specified conditions and expected to be completed by April 1, 2023.

Located near Beulah, North Dakota, the Synfuels Plant will be transformed into the largest and lowest-cost, clean hydrogen production facility in the United States. In June 2021, Bakken and Mitsubishi Power Americas (Mitsubishi) announced they had entered into a strategic partnership to create a world-class clean hydrogen hub in North Dakota to produce, store, transport, and locally capture and sequester carbon (CO₂). The Synfuels Plant facility will form the nucleus of a clean energy hub designed to aggressively advance regional, national, and global decarbonization objectives through the development of clean hydrogen applications for the agriculture, power, and transportation sectors.

The Synfuels Plant holds a distinguished place in American history as a pioneer in the development of alternative sources of energy. It is an established, large-scale producer of synthetic fuels and provides the existing infrastructure and processes required to accelerate its transformation into the largest and lowest-cost producer of low-carbon clean hydrogen and ammonia in the United States. This transformation will be greatly facilitated by the Synfuels Plant workforce of experienced personnel.

New, world-class clean hydrogen production facilities generally require up to 10 years to begin producing hydrogen and develop regional infrastructure and applications. The redevelopment of the Synfuels Plant will cut this time in half and produce an estimated 310,000 metric tons of clean hydrogen per year. This production will use locally sourced feedstock and employ established production and carbon capture processes to produce the clean hydrogen.

The project will use advanced ATR (autothermal reforming) hydrogen production technology and capture 95% of the carbon emissions. ATR technology was selected over steam methane reformation (SMR) and other technologies to maximize CO₂ capture rates and repurposing of existing Synfuels Plant infrastructure and processes.

"Today’s announcement that Bakken Energy has reached agreement with Basin Electric on terms to develop a world-class clean hydrogen hub in North Dakota is of historical significance for our state and nation and heralds the extension of North Dakota being home to innovative leadership in fueling and feeding the world,” North Dakota Gov. Doug Burgum said. “The North Dakota Hydrogen Hub will lead to the establishment of new industries, create high-paying jobs and the development of new domestic and foreign markets. This project illuminates how the power of innovation over regulation can save versus destroy jobs. Congratulations to Bakken Energy, Mitsubishi Power and Basin Electric for their expansive vision to leverage the existing Synfuels Plant, its talented workforce, and North Dakota’s abundant resources to grow our economy and achieve our shared carbon neutrality objectives.”

The North Dakota Hydrogen Hub is expected to be commercially operational in late 2026 with a redevelopment budget for the broader hub including carbon capture and sequestration and hydrogen storage exceeding $2 billion.

“Today is the dawning of the hydrogen economy in the United States of America.” said Bakken Energy Chairman and Founder Steve Lebow. “Rapidly establishing the viability of low-cost clean hydrogen supply to meet the acceleration of clean hydrogen demand is critical to developing our nation’s hydrogen economy.” Lebow continues, “We greatly appreciate Paul Sukut, Chief Executive Officer and General Manager of Basin Electric and his team, as well as the staff of Basin Electric and the Dakota Gasification Company for their hard work in charting the best possible path forward for the plant. We are excited to work with the communities that depend on the sustained and growing employment our shared successes will provide. Our vision is that the Synfuels Plant will continue its historic role as a hub of innovation and pioneering spirit for the great benefit of generations to come.”

“The North Dakota Hydrogen Hub will create a foundation for economic growth and technical innovation extending throughout the upper Midwest,” said Bakken Energy CEO Mike Hopkins. “Driven by our commitment to achieve rapid and large-scale clean hydrogen production, Bakken Energy and our partner Mitsubishi Power have reimagined what is possible and identified the optimal path to leap from blueprint to clean hydrogen production in the shortest time possible. The North Dakota Hydrogen Hub will become a critically important, centrally located hydrogen complex and part of a nationwide, interconnected collection of hubs spanning the country.”

As part of the agreement between Basin Electric and Bakken the Synfuels Plant will continue existing operations through 2025. The transformation of the existing facility and subsequent operations of the redeveloped clean hydrogen production facility will require the same level of highly skilled employees.

“The announcement today represents the hard work of committed individuals at Basin Electric, Dakota Gas, Bakken Energy, and Mitsubishi Power,” said Paul Sukut, Chief Executive Officer and General Manager of Basin Electric Power Cooperative. “Our commitment is to get this right and choose the best option for our employees, our members, and area communities.”

“The redevelopment of the Synfuels Plant rapidly advances Mitsubishi Power’s strategic objective to deliver energy solutions that allow our customers to address climate change and advance human prosperity; delivering decarbonized hydrogen and ammonia solutions throughout the United States is central to this objective,” said Paul Browning, President and CEO of Mitsubishi Power Americas. “The centrally located North Dakota Hydrogen systems will connect our planned western and eastern U.S. hubs to establish a national hydrogen network. Together with our customers, we are creating a  Change in Power.”

-###-

Bakken Energy was formed from the Family Office of Founder and Chairman Steven Lebow. Previously Lebow founded and co-led Donaldson, Lufkin & Jenrette’s (DLJ) Los Angeles office and created and led GRP Partners, a U.S. and European venture capital firm. From almost day one, he was the primary financier for companies including Costco Wholesale, PetSmart, Dick’s Sporting Goods, Envestnet, Bill Me Later (sold to PayPal) and ULTA Beauty. CEO Mike Hopkins and co-founders Curt Launer and Shane Goettle, and Chief Investment Officer Martin Murrer lead Bakken Energy’s development plans. Hopkins has successfully developed 54 power projects around the world, totaling more than twelve gigawatts. Launer was the number one ranked natural gas industry analyst on Wall Street for twelve years and is in the Institutional Investor Magazine Hall of Fame. Goettle is a life-long North Dakota businessman and attorney with more than 25 years of state and federal level experience. He is the former head of the North Dakota Department of Commerce and former chair of EmPower North Dakota, which develops comprehensive energy policy recommendations. Murrer has been an investment banker for more than 40 years on Wall Street and oversees the endowment at The Ohio State University.

About Bakken Energy, LLC

Bakken Energy, LLC, formerly Bakken Midstream Natural Gas, LLC, is an infrastructure development company with a focus on North Dakota’s energy resources. Bakken Energy believes the State has the potential to become a world-class leader in clean energy. The mission of Bakken Energy is to develop and own the infrastructure needed to make the State that clean energy leader.

About Mitsubishi Power Americas, Inc.

Mitsubishi Power Americas, Inc. (Mitsubishi Power) headquartered in Lake Mary, Florida, employs more than 2,200 power generation, energy storage, and digital solutions experts and professionals. Our employees are focused on empowering customers to affordably and reliably combat climate change while also advancing human prosperity throughout North, Central, and South America. Mitsubishi Power’s power generation solutions include gas, steam, and aero-derivative turbines; power trains and power islands; geothermal systems; PV solar project development; environmental controls; and services. Energy storage solutions include green hydrogen, battery energy storage systems, and services. Mitsubishi Power also offers intelligent solutions that use artificial intelligence to enable autonomous operation of power plants. Mitsubishi Power, Ltd. is a wholly owned subsidiary of Mitsubishi Heavy Industries, Ltd. (MHI). Headquartered in Tokyo, Japan, MHI is one of the world’s leading heavy machinery manufacturers with engineering and manufacturing businesses spanning energy, infrastructure, transport, aerospace, and defense. For more information, visit the Mitsubishi Power Americas website and follow us on LinkedIn.
 
About Basin Electric Power Cooperative

Basin Electric is a consumer-owned, regional cooperative headquartered in Bismarck, North Dakota. It generates and transmits electricity to 131 member rural electric systems in nine states: Colorado, Iowa, Minnesota, Montana, Nebraska, New Mexico, North Dakota, South Dakota, and Wyoming. These member systems distribute electricity to about 2.9 million consumers. Learn more at www.basinelectric.com.


Alison Ritter
Bakken Energy, LLC
701-557-7545
aritter@odney.com 


SOURCE : Bakken Energy, LLC

INDIASPORA'S 2021 PHILANTHROPY LEADERS LIST MAKES DIFFERENCE THROUGH GIVING

KUALA LUMPUR, Aug 13 (Bernama) -- Indiaspora, a nonprofit community of global Indian leaders from diverse backgrounds and professions, has released its list recognising 100 Indian and diaspora leaders who are making a difference through their giving.

“It is incredibly inspiring to see so many philanthropists from our community who have translated their success into social impact. These leaders serve as an example of the importance of generosity and remind us of the many issues that need our attention,” said Indiaspora Founder MR Rangaswami.

With guidance from nine jurors and drawing from multiple sources, including reputed studies, earlier verified lists, and publicly shared documents, Indiaspora’s 2021 Philanthropy Leaders List recognises Indian and diaspora leaders globally for their philanthropic contributions and engagement.

According to a statement, Indiaspora’s 2021 Philanthropy Leaders List includes philanthropists from India and from geographies with significant diaspora migration, including the United States, the United Kingdom, Canada, the United Arab Emirates, Singapore, and Australia.

“Indiaspora’s Philanthropy Leaders List serves as a reminder to the diaspora to continue the important work of giving even once the crisis abates so our communities can meet future challenges,” said Founder and Chief Executive Officer of Fairfax Financial Holdings and one of the honorees on the List, Prem Watsa.

The List includes names from various industries including technology, entertainment, finance, and the law, who are using their philanthropy to address issues such as access to healthcare, quality education, water and sanitation, arts and culture, food insecurity, and employability.

Indiaspora’s 2021 Philanthropy Leaders List is one of several of the organisation’s philanthropy-focused initiatives. Other initiatives include the Philanthropy Summit, an annual event that brings together nonprofits, foundations, philanthropists, and others in the social impact space to share learnings regarding Indian and diaspora philanthropy.

More details at www.indiaspora.org.

-- BERNAMA

AT TOKYO KYUSHU CENTER #1 (QC1) TO BE SET UP IN FUKUOKA

KUALA LUMPUR, Aug 12 (Bernama) -- AT TOKYO Corporation (AT TOKYO) will establish AT TOKYO Kyushu Center #1 (QC1) in Fukuoka, Kyushu.

The opening of the new centre in Fukuoka following its Tokyo and Osaka centres will promote digitalisation and data traffic decentralisation in Japan’s regional areas.

According to a statement, the centre will begin operations in November, 2021.

QC1 will reside within QTnet’s Fukuoka Data Center 3 (QD3) operated by QTnet Co Ltd (QTnet). Managed by the data centre operator of Kyushu Electric Power Group, QD3 achieves a high level of customer satisfaction with its superior facilities, support systems, and prime location.

AT TOKYO’s QC1, located in Fukuoka, a core business district of Kyushu, is a long-awaited data traffic hub in Kyushu and Western Japan, and will create valuable business environment for telecommunications, cloud service providers, and its customers in the region.

In conjunction with Tokyo and Osaka centres that are already well used by a range of domestic and overseas customers, QC1 will become a platform for domestic and global business expansion.

AT TOKYO aims to create a platform to support the future of Japan’s society with data centre operations that highlight continuity, connectivity, and the co-creation of value.

The establishment of QC1 is a sure footing for AT TOKYO to tap into the edge data centre sphere in Japan, and is an important milestone to further develop its position as data centre hub.

AT TOKYO offers high-quality and reliable data centre services to customers and assists in accelerating the growth of their business.

-- BERNAMA

HILLSTONE NETWORKS RELEASES NEW STAND-ALONE SD-WAN SOLUTION

KUALA LUMPUR, Aug 12 (Bernama) -- Hillstone Networks, an infrastructure protection solutions provider, has released a dedicated version of its software-defined wide-area network (SD-WAN) solution as part of its Hillstone Security Management Platform (HSM) 5.0 release.

Hillstone’s stand-alone SD-WAN solution addresses the increasing need for more bandwidth, as well as improved network availability and quality requirements to better serve latency-sensitive apps.

This is also to ensure that today’s hybrid workforce has the secure networking infrastructure needed to remain productive, according to a statement.

“Organisations today still struggle with how to balance supporting and securing a hybrid workforce against the backdrop of an increasing potential of cyberattacks,” said Co-founder, and CTO at Hillstone Networks, Tim Liu.

 “We designed the Hillstone SD-WAN solution with fully integrated security to address the critical pain points triggered by today’s business needs and market trends, and to ensure that IT teams can reliably and efficiently secure their networks and apps, while delivering a great experience for their end-users.”

The race to the cloud accelerated by the ongoing pandemic, an increasingly hybrid and mobile workforce who demand quality user experience, as well as edge computing are the primary drivers for a secure SD-WAN solution.

Hillstone delivers with advanced SD-WAN capabilities that include simplified orchestration with advanced overlay automation and zero-touch provisioning; global unified network visibility with dynamic health monitoring; and, optimised application performance with intelligent routing and content awareness.

Hillstone Networks' proven Infrastructure Protection solutions provide enterprises and service providers with the visibility and intelligence to comprehensively see, thoroughly understand, and rapidly act against multilayer, multistage cyberthreats.

More details at www.hillstonenet.com.

-- BERNAMA

BECA AND BLACK & VEATCH ANNOUNCE COLLABORATION TO DELIVER SOLUTIONS FOR A MORE SUSTAINABLE AUSTRALIAN MINING INDUSTRY

 

MELBOURNE, Australia, Aug 13 (Bernama-BUSINESS WIRE) -- Beca & Black & Veatch (B&BV) have announced a collaboration to deliver sustainability and decarbonisation solutions, combined with a strong local presence, to service minerals and metals operations across Australia.

“Clients recognise the need for more sustainable operations and more efficient resource management approaches from extraction and processing through to delivery. Our collaboration brings sustainability expertise, at scale, to mining operations across Australia,” said Paul Language, a Business Director at Beca. “We understand what it takes for miners to succeed in Australia”.

“Clients have set ambitious sustainability and decarbonisation goals and we are helping them develop and implement the sustainability roadmaps that will make these goals attainable,” said Jim Spenceley, Senior Vice President of Black & Veatch’s mining business. “For many years B&BV have collaborated for the benefit of clients in New Zealand and we look forward to extending our services to Australia.”

Part of B&BV’s strength is a strong shared culture. Both are employee-owned, a business model that has been delivering success for more than a century for each organisation. Both companies are committed to the safe delivery and management of critical infrastructure, and embracing reconciliation in the minerals and metals sector. Sustainability and responsible corporate stewardship are core to both companies’ operations, in the way they act and the projects they deliver.

About Beca

Beca is an employee-owned professional services firm that has been delivering community-shaping Engineering, Advisory and Management Consulting services across the Asia-Pacific Region for over 100 years.. We have more than 3,300 people in 21 offices who are delivering projects in over 70 countries. We have had offices in Australian since 1969 and we’re proud to be supporting our customers across market segments including Minerals and Metals, Transport and Infrastructure, Energy, Water, Food and Life Sciences, Advanced Manufacturing, Health and Defence.

Creative people together transforming our world’ is our vision. It reflects our culture, our aspirations and our purpose - to make everyday better. We create value through understanding and delivering successful solutions, exceptional service and our enduring relationships and use our skills and systems to empower innovation; helping our clients shape communities, optimise their assets and streamline their operations. Follow us on www.beca.com

About Black & Veatch

Black & Veatch is an employee-owned global engineering, procurement, consulting and construction company with a more than 100-year track record of innovation in sustainable infrastructure. Since 1915, we have helped our clients improve the lives of people around the world by addressing the resilience and reliability of our most important infrastructure assets. Our revenues in 2020 exceeded US$3.0 billion. Follow us on www.bv.com and on social media.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20210812005004/en/

Contact

Media Contact Information, Beca:
Cameron Menzies I +61 421 055 486 I cameron.menzies@beca.com

Media Contact Information, Black & Veatch:
MALCOLM HALLSWORTH | +44 1483 319287 p | +44 7920 701764 m | HallsworthM@BV.com
24-HOUR MEDIA HOTLINE | +1 866 496 9149

Source : Black & Veatch

--BERNAMA

"XPOSURE" STARTS ACCEPTING ENTRIES FOR THE "INDEPENDENT PHOTOJOURNALIST" AWARD

 

^{"Xposure" Starts Accepting Entries for the "Independent Photojournalist" Award (Photo: Business Wire)}


November 30^th 2021 … Last Date for Registration

Registration is now open for the Xposure International Photography Award


DUBAI, United Arab Emirates, Aug 12 (Bernama-BUSINESS WIRE) -- Xposure International Photography Festival, annually organized by the Sharjah Government Media Bureau, has started accepting entries for the “Independent Photojournalist Award” as of the 1^st of August and up until the 30^th of November 2021. The Main target audience are the Freelance photographers, who have collected photos from all around the world and have contributed to news stories and raising awareness of global issues affecting public opinion.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210811005669/en/

 

The Independent Photojournalist Award is divided into three categories: news journalism that has to do with breaking news; environmental journalism which focuses on environmental problems and the environmental changes, and solutions journalism which concentrates on the rapid response to the current conditions and on dealing with difficult issues by developing effective solutions. Photographers can participate with a minimum of five photos, and a maximum of 12.

Registration for the award is free and open to all photographers of different nationalities who are over the age of 18 and who hold a national or international press card issued by an accredited and internationally recognized association or federation through the award’s website: https://awards.xposure.ae/

The value of the first place award is $15,000, in addition to a special space for displaying the winner’s work in the next edition of the International Photography Festival. The second place winner will receive their own space to present their work at the next edition of the festival.

Receiving Entries is Open

The Xposure International Photography Festival continues to receive entries for the festival Awards. It has opened its doors to amateur and professional photographers to participate with their work for the award categories from the 1^st July to the 1^st of November 2021.

The festival welcomes entries from all age groups and from all over the world, the categories include: architectural photography, aerial and drone photography, landscape photography, photojournalism, portrait photography, travel photography, short films category, wildlife photography, children photography (for those who are under 18) and the category of the Sharjah government employees.

Through this award, Xposure is keen to bring to light those photographers whose work tells visual stories that shed light on the various human and environmental issues which change the human psyche, in addition to focusing on peoples’ customs and traditions, landscapes, and architectural details that capture the eyes with their distinctive design.

By hosting and attracting a galaxy of famous photographers, media professionals and photography enthusiasts from all over the world, Xposure International Photography Festival has succeeded in establishing its unique position as the most important photography event in the region since its first edition.

View source version on businesswire.com: 
https://www.businesswire.com/news/home/20210811005669/en/

Contact

Tulay Genc
Email: info@b2press.com
Phone: +31 30 799 6022

Source : Xposure