Tech News
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RiT Technologies Reports Second Quarter and Six Month 2015 Results
-Q2 2015 Revenue Increased 172% Year-Over-Year to $4.5 Million
-Q2 2015 Gross Margin Increased to 47% Compared to 31% in Q2 2014
TEL AVIV, Israel, Sept. 29, 2015 (GLOBE NEWSWIRE) -- RiT Technologies (NASDAQ:RITT), a leading provider of Converged Infrastructure Management Solutions that enable companies to maximize utilization and security of their network infrastructure announced today its results for the second quarter and six months ended June 30, 2015.
Financial Highlights for the Second Quarter Ended June 30, 2015
- Revenue for Q2 2015 increased 172% to $4.5 million, compared to $1.7 million in Q2 2014
- Gross margin for Q2 2015 improved to 47%, compared to 31% in Q2 2014
- Net Income for Q2 2015 was $0.1 million, or $0.01 per (basic and diluted) share, compared to a net loss of $(2.6) million or $(0.20) per (basic and diluted) share in Q2 2014
- Cash and cash equivalents as of June 30, 2015 was $1.2 million
- Shareholders' equity as of June 30, 2015, increased to $5.2 million, compared to $3.9 million on December 31, 2014
Financial Highlight for the Six Month Period Ended June 30, 2015
- Revenue for the first six months of 2015 increased 115% to $7.9 million, compared to $3.7 million in the same period of 2014
- Gross margin for the first six months of 2015 improved to 46%, compared to 36% in the same period of 2014
- Net profit for the first six months of 2015 was $0.1 million, or $0.01 per (basic and diluted) share, compared to a net loss of $(4.5) million, or $(0.35) loss per (basic and diluted) share recorded in the first six months of 2014
"Throughout the first half of 2015, RiT continued to capitalize on the combined strength of our improved operational platform and product/service offering, which resulted in favorable revenue growth and increased profitability," noted Yossi Ben-Harosh President and Chief Executive Officer of RiT Technologies. "With a robust and growing pipeline of opportunities, supported by a focused business strategy and commitment to superior execution, I am confident RiT is positioned to deliver increasingly strong results during the second half of 2015 and beyond."
"In addition to my joining in July, RiT has added proven, seasoned professionals to the sales and senior management teams to further strengthen the Company's position in the market. I am encouraged by what I've seen to date and look forward to the increasing contribution of these key individuals," concluded Mr. Ben-Harosh.
To more effectively define its service offering, RiT launched a new subsidiary RiT Wireless - focusing on global market penetration of RiT's advanced Indoor Wireless Optical Networks technology, Beamcaster 2.0.
And in addition two distinct lines of business as part of its strategy to focus on new opportunities with specific technologies and deployment models that address unique challenges and application needs:
- RiT Connectivity – a line of business that includes RiT's flagship products of SCS (smart cabling systems) and IIM (intelligent infrastructure management); with a commitment to maintaining its market leadership as the premium IIM solution in the market.
- RiT Software – a line of business promoting RiT's growth engine software product Converged Infrastructure Management System, CM 3.0, a platform that provides a unified way to manage converged systems and services to improve network utilization, streamline infrastructure operations, reduce costs and enhance data security.
About RiT Technologies
RiT Technologies (NASDAQ:RITT) is a leading provider of converged IT infrastructure management and connectivity solutions that improve network utilization, streamline infrastructure operations and enhance data security reduce network operation cost and optimize future investments.
RiT offers a platform that provides a unified way to manage converged systems and services to improve network utilization, streamline infrastructure operations, reduce cost and enhance data security. RiT's platform includes connectivity solutions such as IIM, (Intelligent Infrastructure Management), converged infrastructure management software, and indoor optical wireless technology.
Deployed around the world in data centers, large corporations, government agencies, financial institutions, telecommunications, airport authorities, healthcare organizations and educational facilities. RiT's shares are traded on the NASDAQ Capital Market under the symbol RITT.
Safe Harbor Statement
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate", "forecast", "target", "could" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described under the heading "Risk Factors" in our most recent Annual Report filed with the Securities and Exchange Commission (SEC) on Form 20-F, which may be revised or supplemented in subsequent reports filed with the SEC. These factors include, but are not limited to, the following: our ability to raise additional financing, if required; the continued development of market trends in directions that benefit our sales; our ability to maintain and grow our revenues; our dependence upon independent distributors, representatives and strategic partners; our ability to develop new products and enhance our existing products; the availability of third-party components used in our products; the economic condition of our customers; the impact of government regulation; and the economic and political situation in Israel. Except as otherwise required by applicable law, we expressly disclaim any obligation to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
RiT TECHNOLOGIES LTD. STATEMENTS OF OPERATIONS (U.S GAAP) (U.S dollars in thousands, except per share data) (Unaudited) Three Six Months Ended Months Ended June 30 June 30 2015 2014 2015 2014 Sales 4,549 1,674 7,936 3,690 Cost of sales 2,428 1,151 4,307 2,355 Gross profit 2,121 523 3,629 1,335 Operating expenses Research and development, net 450 786 825 1,473 Sales and marketing, net 740 1,007 1,483 2,163 General and administrative 789 1,298 1,145 2,133 Total operating expenses 1,979 3,091 3,453 5,769 Operating margin / (loss) 142 (2,568) 176 (4,434) Financing loss, net (28) (23) (44) (49) Other income (expenses), net Loss before income tax expense 114 (2,591) 132 (4,483) Taxes on income Net Profit / (Loss) 114 (2,591) 132 (4,483) Net Profit (Loss) Per Share -Basic and diluted 0.01 (0.20) 0.01 (0.35) Weighted average number of ordinary shares Outstanding- basic and diluted 15,541,306 12,763,218 15,541,306 12,763,218 RiT TECHNOLOGIES LTD. CONSOLIDATED BALANCE SHEETS (U.S GAAP) (U.S dollars in thousands, except per share data) (Unaudited) June 30,
2015 US$
thousandsDecember 31,
2014 US$
thousandsAssets Current Assets: Cash and cash equivalents 1,232 1,604 Trade receivables, net 5,951 1,680 Other current assets 431 335 Inventories 3,495 3,617 Total Current Assets 11,109 7,236 Assets held for severance benefits 893 967 Capitalized software development costs, net 193 0 Property and equipment, net 445 471 Total non-Current Assets 1,531 1,438 Total Assets 12,640 8,674 Liabilities and Shareholders' Equity Current Liabilities: Trade payables 1,755 967 Other payables and accrued liabilities 1,515 1,554 Total Current Liabilities 3,270 2,521 Principal shareholder convertible loan 3,000 1,000 Liability in respect of employees' severance benefits 1,168 1,224 Total of non-Current Liabilities 4,168 2,224 Total Liabilities 7,438 4,745 Shareholders' Equity: Share capital 3,384 3,384 Treasury stock (27) (27) Additional paid-in capital 73,380 72,239 Accumulated deficit (71,535) (71,667) Total Shareholders' Equity 5,202 3,929 Total Liabilities and Shareholders' Equity 12,640 8,674 CONTACT: Amit Mantsur CFO M: +972. 55.882.3734 amitm@rittech.com www.rittech.com
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Nexant Energy Software Forum 2015 Brings Together Demand Side Management, Energy Efficiency, Energy Retail and ISO Leaders
SAN FRANCISCO, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Nexant, a leading provider of software for utilities, today announced its 2015 Energy Software Forum is being held this week in La Jolla, California.
The software forum allows Nexant iEnergy, iHedge and RevenueManager software customers from around the world to gather and discuss best practices and share expertise. Product tracks will discuss use cases and results through interactive product sessions, case studies, and a look into the future of energy software.
About Nexant iEnergy, iHedge and RevenueManager
iEnergy® is a purpose-built, data management, analytics and customer engagement platform that fundamentally changes how utilities manage business processes and customer initiatives for energy efficiency, renewables, demand response and water conservation programs.
iHedge® is a comprehensive software platform that enables market participants to hedge congestion risks in transmission constrained electricity markets by providing competitive strategies through simulation of auctions, allocations of congestion revenue rights (CRR) and allocation of financial transmission rights (FTR).
RevenueManager® is a fully integrated, customer care, billing and contract management software platform that supports multiple commodities through the entire customer lifecycle—from prospecting, to customer acquisition, customer service and billing—in residential, commercial and industrial markets.
About Nexant
Nexant offers a comprehensive suite of best-in-class energy enterprise software platforms that transform utility business processes and enable implementation of smart grid, clean energy and demand management initiatives. Nexant software helps utilities embrace a customer-centric model that aligns strategic planning, grid operations and demand side management to improve customer engagement, boost operational efficiency, reduce risk and achieve superior business results. Learn more at www.nexant.com.
CONTACT: Heatheryn Higgins, Nexant Director of Communications +1.303.998.2474 hhiggins@nexant.com
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Imagination's Ensigma Communications IP Receives Wi-Fi CERTIFIED(TM) ac Certification and Bluetooth Smart Qualification
LONDON, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Imagination Technologies (IMG.L) announces it has received certification for Wi-Fi CERTIFIED™ ac and qualification for Bluetooth® Smart for its high-performance Ensigma Explorer radio processing unit (RPU) communications IP. Attained through Wi-Fi Alliance® and the Bluetooth SIG (Special Interest Group) respectively, these certifications instill a high level of confidence among chip makers on the quality and interoperability of Ensigma IP-based RPUs. The Wi-Fi® certification further makes Ensigma RPUs the world's first communications IP to be certified for 802.11ac.
Programmable Ensigma Explorer RPUs address the ever-growing challenge of proliferating communications and connectivity standards by supporting them all on a single architecture, and enabling them to be integrated onto SoCs for the lowest possible system cost. The high-performance Explorer family is complemented by the ultra-low power Ensigma Whisper communications IP family, which is designed specifically to enable the integration of ultra-low power communications in SoCs. All Ensigma RPUs are provided as a complete communications solution from RF to software.
Chakra Parvathaneni, Imagination's vice president of Ensigma Business Operations, says: "Our customers increasingly realize the benefits of implementing advanced communications processors on chip, rather than using a standalone solution – making Imagination's portfolio of end-to-end communications offerings particularly attractive to customers. The certification of the Ensigma Explorer RPUs will enable customers in a wide range of markets to reduce system costs and power consumption while delivering reliable advanced wireless connectivity with assured interoperability."
Wi-Fi CERTIFIED ac is the latest generation of Wi-Fi, which delivers multi-gigabyte data rates, enabling devices to handle demanding applications such as Ultra HD and 4K video, multimedia streaming and rapid file transfer on tablets, gaming devices, handsets and many other devices. In addition, Explorer RPUs have undergone a rigorous program that tests for performance, compliance with the specification, interoperability across vendors, and backward compatibility to older standards.
Bluetooth Smart consumes a fraction of the power of Classic Bluetooth radios, creating significant advantages for developers and manufacturers, while providing a better user experience for their customers. It extends the use of Bluetooth wireless technology to devices that are powered by small, coin-cell batteries such as watches and toys. Other devices such as sports and fitness, health care, keyboards and mice, beacons, wearables and entertainment devices are enhanced by this version of the technology.
Imagination's Wi-Fi CERTIFIED ac and Bluetooth Smart certifications join a growing list of existing certifications including Miracast®, Passpoint™, Wi-Fi CERTIFIED™ a/b/g/n, Wi-Fi Direct®, WPA™, WPA2™, WMM® and Wi-Fi Protected Setup™.
About Ensigma RPUs
The Ensigma range of RPUs includes the low-power Whisper family and the high-performance Explorer family, designed to address applications from ultra-low power to maximum performance, and with a common API, customers can reuse software across the platforms. Ensigma RPUs provide multi-standard support in a single architecture, designed to enable customers to bring standards such as Wi-Fi, Bluetooth Classic, Bluetooth Smart, NFC, GNSS and other existing or emerging low-power connectivity technologies onto their SoCs. By bringing this functionality on-chip, customers can minimize power consumption, silicon footprint and system cost compared with conventional solutions. Ensigma RPUs are shipping today in numerous low-power audio and connectivity devices with a growing range of designs in the pipeline.
About Imagination Technologies
Imagination is a global technology leader whose products touch the lives of billions of people across the globe. The company's broad range of silicon IP (intellectual property) includes the key processing blocks needed to create the SoCs (Systems on Chips) that power all mobile, consumer and embedded electronics. Its unique software IP, infrastructure technologies and system solutions enable its customers to get to market quickly with complete and highly differentiated SoC platforms. Imagination's licensees include many of the world's leading semiconductor manufacturers, network operators and OEMs/ODMs who are creating some of the world's most iconic products. See: www.imgtec.com.
Follow Imagination on Twitter, YouTube, LinkedIn, RSS, Facebook and Blog.
Imagination Technologies and the Imagination Technologies logo are trademarks of Imagination Technologies Limited and/or its affiliated group companies in the United Kingdom and/or other countries. All other logos, products, trademarks and registered trademarks are the property of their respective owners.
CONTACT: Imagination Technologies' Press Contacts: UK: David Harold david.harold@imgtec.com +44 (0)1923 260 511 USA: Jen Bernier-Santarini jen.bernier@imgtec.com +1 408-530-5178
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Yappn Partners With Hong Kong Based Ventris Capital to Expand Its Business Reach Throughout Asia
NEW YORK, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Yappn Corp. ("Yappn" or "Company") (OTCQB:YPPN), a leader in real-time language technology and translation services, is pleased to announce that it has partnered with Ventris Capital Advisors ("Ventris Capital") to increase its reach in Asia.
With strong ties to over 300 investors and corporations predominantly from the Asia Pacific region including China, Hong Kong, Taiwan, Singapore, Indonesia, Philippines, Korea and Australia, Ventris Capital, led by Co-Founder Tyler Doherty, intends to continue to expand Yappn's presence in the media, Ecommerce, customer care and brand messaging sectors throughout Asia.
Tyler Doherty states: "There are over 16 languages spoken in the Asian region and many different dialects for those languages. Yappn's platform is game-changing for businesses that want to globalize without incurring the heavy localization costs. We have already identified many companies which would benefit greatly from Yappn's real-time language and translation services that are simple and elegant and at a fraction of the cost compared to many people based services currently out in the market."
Tyler began his career at BMO Nesbitt Burns in Vancouver and prior to moving to Asia, he was a Vice-President at a private equity /family office based in Vancouver focused on investments in Chinese SMEs. His previous posts also include founder of Inishowen Partners, a boutique cross-border financial advisory firm which was responsible for investor relations and business development before being merged into Ventris Capital. Prior to founding Inishowen Partners, Tyler spent a year working at a Hong Kong publicly-listed company in the retail sector.
David Lucatch, CEO stated: "We are excited to have Ventris Capital to help support our sales efforts in Asia and consider this another valuable introduction by Winterberry Investments. Real-time language services is a huge growth opportunity throughout the region and as Yappn focuses on client acquisition, having a solid presence throughout the Asian region will support our sales expansion. Ventris Capital has strong ties with brands throughout Asia and they will help us identify the companies best suited to benefit from our Ecommerce, customer care and social language services applications."
For more information, please visit www.yappn.com.
To learn more about Why Language Matters to a growing global economy, visit our blog at www.whylanguagematters.com.
About Yappn
Yappn is a real-time multilingual company that amplifies brand and social messaging, expands online commerce and provides customer support by globalizing these experiences with its proprietary approach to language. Through its real-time multilingual amplification platform, Yappn eliminates the language barrier, allowing the free flow of communications in 67 languages.
Yappn focuses on delivering global reach and efficiencies without the need of human intervention, making the language experience immediate through all phases of Ecommerce, online events and content programming.
Yappn Corp. is publicly traded in the U.S. on the OTCQB – symbol "YPPN"
For more information, please visit http://www.yappn.com or contact:
David Lucatch, Founder and CEO
info@yappn.com
or
Jeanny So, VP, Corporate Communications
jeanny@yappn.com
T: 1.800.395.9943 x 228To be added to the news release distribution list, please email: jeanny@yappn.com with the word "News" on the subject line.
Forward Looking Information
Legal Notice and Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, and those preceded by or that include the words "believes," "expects," "given," "targets," "intends," "anticipates," "plans," "projects," "forecasts" or similar expressions, are "forward-looking statements." Although Yappn Corp.'s management believes that such forward-looking statements are reasonable; it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company's future results to differ materially from those anticipated. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company's filings with the SEC including the Current Reports on Form 8-K and each subsequently filed Quarterly Report on Form 10-Q and Annual Report on Form 10-K. The Company assumes no obligation to update any of the information contained or referenced in this press release.
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EY Forges Strategic Alliance With Ebix to Strengthen Delivery of Digital Solutions in India & Bangladesh
NEW DELHI, India, Sept. 29, 2015 (GLOBE NEWSWIRE) -- EY, a global leader in assurance, tax, transaction and advisory services and Ebix, Inc. (NASDAQ:EBIX), a supplier of software and e-commerce services to the insurance, financial and healthcare industries, today announced a strategic alliance to deliver innovative technology-enabled solutions to prospective customers in the area of e-governance, health and insurance in India and Bangladesh. The relationship draws from the common belief in the power of digital solutions in bringing about a transformative change in businesses that will result in better returns to both the customer and the enterprise.
EY advises and provides solutions to clients on digital transformation, including strategy, analytics, risk and cyber-security, customer experience etc. The strategic collaborative effort will focus on assisting customers including government bodies / ministries as well as public and private sector enterprises.
The alliance would leverage on the partners' respective strengths, including EY's experience and reputation as a leader in providing advisory services, its thought leadership and ability to lead large-scale transformation programs, while Ebix has subject matter expertise in the area of software and e-commerce solutions to customers for removing barriers to digital adoption, improving customer experience, and maximizing their return on investment in digital technologies.
The joint-go-to-market initiative shall include working together with a goal to be the thought leaders in the area of e-governance, health and insurance.
Among other areas, the strategic relationship will focus on:
- e-governance projects of government bodies / ministries (including central, state and local bodies);
- Niche A.D.A.M. suite of healthcare products in the area of consumer health, health education, continuing medical education, pharmacy & life sciences and coming out with specific solutions aiming at improving health ecosystem in India and Bangladesh;
- Mobile devices and technology in coming out with innovative healthcare provisioning (e-health, m-health, etc.);
- End-to-end Life and General insurance solutions for various public and private sector insurance companies;
- Developing innovative thinking in the area of primary healthcare delivery model;
- Establishing co-innovation capabilities on a host of advanced applications in the area of health and insurance; and driving customers' business advantage from the "internet of things";
- Delivering cutting edge technology solutions to clients in the insurance and allied areas using Ebix technologies and EY's business advisory and technology consulting skills.
Says Rajiv Memani, Chairman, EY India, "Digital is transforming the way business is done, providing multiple opportunities for organizations to take advantage of disruptive changes. We have been advising clients in the identification, development and adoption of better digital solutions to integrate in their business models. Ebix's focus on progressive technologies and its capabilities in delivering digital solutions, we believe, will enable us to help clients better as on their digital agenda."
Ebix President & CEO, Robin Raina said, "We are excited to be teaming together with EY on this strategic initiative. We recognize the advisory experience, thought leadership, market reach and large project management experience that EY brings to the table. We believe that this collaborative go-market effort is uniquely positioned to target large Private sector & Government projects and provide end-to-end solutions to them."
Notes to Editors
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
This news release has been issued by EY Services Limited, a member of the global EY organization that also does not provide any services to clients.
About Ebix, Inc.
A leading international supplier of On-Demand software and E-commerce services to the insurance, financial and healthcare industries, Ebix, Inc., (NASDAQ:EBIX) provides end-to-end solutions ranging from infrastructure exchanges, carrier systems, agency systems and risk compliance solutions to custom software development for all entities involved in the insurance industry.
With 40+ offices across Brazil, Singapore, Australia, the US, UK, New Zealand, India and Canada, Ebix powers multiple exchanges across the world in the field of life, annuity, health and property & casualty insurance while conducting in excess of $100 billion in insurance premiums on its platforms. Through its various SaaS-based software platforms, Ebix employs hundreds of insurance and technology professionals to provide products, support and consultancy to thousands of customers on six continents. For more information, visit the Company's website at www.ebix.com.
CONTACT: Priti Bhutani +91 9810995350 priti.bhutani@in.ey.com Aaron Tikkoo 678-281-2027 atikkoo@ebix.com
- e-governance projects of government bodies / ministries (including central, state and local bodies);
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Adaptive Medias Announces Exclusive Strategic Partnership With Communly
IRVINE, Calif., Sept. 29, 2015 (GLOBE NEWSWIRE) -- Adaptive Medias, Inc. (OTCQB:ADTM), a video technology company that supports publishers, content producers and brand advertisers, today announced that it has exclusively partnered with Communly (www.communly.com), a social network that creates highly engaged communities while allowing influencers to understand their demographic and identify trends within their respective communities. Adaptive Medias expects to realize initial revenues from this contract during the first quarter of 2016.
With this new partnership, Communly will leverage Adaptive Media's ad-tech platform Media Graph for its digital content management, mobile-first video player, and ad serving and monetization capabilities. The partnership will open the door to thousands of digital influencers and their hundreds of millions of loyal followers to connect safely in one central platform on Communly.
Communly is a dedicated social network that allows audiences to connect around topics they're most passionate about with their favorite digital celebrity. Communly's CEO and co-founder, Alaxic Smith, exposed a flaw in the cyber security of the Kardashian sisters' sites and apps, which went live this month. The company behind the sites, Whalerock Digital Media, has since fixed the problem, but Alaxic's discovery led to some controversial numbers when it came to the number of app downloads for each Kardashian, as noted on TechCrunch. Communly's other co-founder, Taj Stansberry, is a famed American director and photographer, who is credited with having the most watched female music video of all time on YouTube -- Jennifer Lopez' "On the Floor" -- with more than 800 million views.
Communly Co-Founder Alaxic Smith said, "Adaptive's Media Graph platform will enable us to enhance our social network's content offerings and enable increased engagement of fans and their favorite celebrities on the communly platform. It's no secret that digital video is in high demand, so we're planning to use video intelligently and offer it to our audiences in an unintrusive way. This will help our influencers to safely connect with their audiences and avoid issue of data leakage."
Adaptive Medias' CEO John B. Strong said, "Alaxic Smith is a visionary and entrepreneur who developed the concept of Communly at an early age. We believe Alaxic will be at the forefront of the next disruption in social media. Alaxic and his cofounder Taj Stansberry understand the immense value of organizing people into communities of similar interests. Additionally, their partnership with Adaptive Medias, and its proprietary Media Graph platform will give them the powerful technology resources they need to be the leaders in creator content."
Strong continued, "It's clear that digital content today is similar to the film libraries of the past, providing streams of revenue for years to come, just as old episodes of television shows have done in syndication. Communly's platform will be at the forefront of the shift for creators to archive, showcase, and monetize their content across the digital spectrum in a secure environment."
ABOUT COMMUNLY
Communly, founded in 2012, is the best place to build or grow a highly engaged fan base. Having large numbers of followers on other platforms looks good, but what matters is how those followers convert to actual revenue for creators to keep creating. Communly is committed to building technology that creates highly engaged communities, while allowing teams and individuals to understand their demographic and identify trends within their respective communities. For more information, please visit www.communly.com.
ABOUT ADAPTIVE MEDIAS, INC.
Adaptive Medias, Inc. (ADTM) is a leading provider of mobile video delivery and monetization solutions for publishers, content producers and advertisers. The company's comprehensive mobile video technology platform, Media Graph, facilitates the delivery of integrated, engaging video content and impactful ad units across all screens and devices. Adaptive Medias is one of the first companies to offer clients a digital video player built specifically for the mobile world. For more information, please visit www.adaptivem.com. Follow the Company on Twitter @adaptive_m.
SAFE HARBOR STATEMENT
This Press Release may contain certain forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Adaptive Medias, Inc. has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect Adaptive Medias' current beliefs and are based on information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause Adaptive Medias' actual results, performance or achievements to differ materially from those expressed in or implied by such statements. Adaptive Medias undertakes no obligation to update or provide advice in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements.
CONTACT: Investor Contact at Adaptive Medias: Max Pashman mpashman@irpartnersinc.com Phone: 818-280-6800 PR Contact at Communly: Taj Stansberry taj@communly.com
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With Varonis, Central Connecticut State University Intelligently Empowers Professors and Staff With Control Over Data Access
NEW YORK, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Central Connecticut State University (CCSU), a regional, comprehensive liberal arts public university, was required to report twice a year on who had access to what file shares – the process the school had in place was inefficient and frustrating. With student employees moving in and out of the university every year, and academic departments constantly shifting, understanding access privileges and ensuring that the right people did or did not have access was essential, but running reports on this on a regular basis was not feasible. The school needed a solution that could be trusted to automate the process.
The search led CCSU's IT team to Varonis Systems, Inc. and its DatAdvantage for Windows and DataPrivilege solutions. Varonis (NASDAQ:VRNS) is the leading provider of software solutions for unstructured, human-generated enterprise data. CCSU's IT team is now able to put control over file access in the hands of data owners, such as academic professors or supervisors, eliminating much of the burden previously placed on their team. They are also able to run fast reports that allow them to keep an eye on these access privileges and ensure that no one is getting access to data that they do not need.
Faster, Precise Data Permissions
With DatAdvantage, the CCSU IT team can easily identify everyone at the university who has access to each folder and alter those permissions if necessary. File activity is logged in a single interface for their IT team, providing a window into who has the access to data, who has accessed it, and when. With DataPrivilege operating in tandem with DatAdvantage, CCSU is able to take an important, and crucial, step further. DataPrivilege gives business users (CCSU professors and general employees) the ability to review, grant and revoke access to folders that they oversee through an easy-to-use web application.
According to Rick Johnson, Systems Administrator at CCSU, "One of the biggest complaints we get at CCSU, as is the case at most universities, is about the amount of time that it takes for individuals' access rights to get removed after they leave or switch departments, or for new people to get access. Once we showed everyone that they could now manage these permissions themselves without calling the IT help desk and with almost an immediate turnaround, employees became proponents of the Varonis software and are happy to utilize it."
Mitigating Risk with a Least-Privilege Access Model
Beyond improving the file permissions workflow for IT and data owners, DatAdvantage and DataPrivilege also give CCSU's IT team peace of mind in the security of the sensitive data that resides in these files. By allowing CCSU IT to conduct frequent, fast audits on data access, the software keeps them abreast of any holes in the permissions structure and any employees who have access to more data than they need to do their job. Eliminating these excess permissions greatly reduces the risk of accidental or intentional leakage of any sensitive data.
According to Donna Stevenson, Operations and Database Support Specialist at CCSU, "In today's world, we really have to understand our data and who is responsible for it in order to keep it secure, and placing access management in the hands of data owners with Varonis DataPrivilege has made this process incredibly easier for us."
Additional Resources
- Read the CCSU Case Study here.
- For more information on Varonis' solution portfolio, please visit www.varonis.com.
- Join the Varonis conversation on Facebook, LinkedIn, Twitter, and YouTube.
About CCSU
Central Connecticut State University is a regional, comprehensive public university dedicated to learning in the liberal arts and sciences and to education for the professions. Comprising four schools--Business; Education & Professional Studies; Graduate Studies; and Science, Engineering & Technology, in addition to the Carol Ammon College of Liberal Arts & Social Sciences--CCSU offers undergraduate and graduate programs through the Master's and sixth-year levels and the Ed.D. in Educational Leadership. Committed to offering Connecticut citizens access to distinctive academic programs of high quality, the University is also a responsive and creative intellectual and economic resource for the people and institutions of our state's Capitol Region. More than 85 percent of CCSU graduates remain in Connecticut, contributing to the intellectual, cultural and economic health of the state.
About Varonis
Varonis is the leading provider of software solutions for unstructured, human-generated enterprise data. Varonis provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Varonis specializes in human-generated data, a type of unstructured data that includes an enterprise's spreadsheets, word processing documents, presentations, audio files, video files, emails, text messages and any other data created by employees. This data often contains an enterprise's financial information, product plans, strategic initiatives, intellectual property and numerous other forms of vital information. IT and business personnel deploy Varonis software for a variety of use cases, including data governance, data security, archiving, file synchronization, enhanced mobile data accessibility and information collaboration. As of June 30, 2015, Varonis had approximately 3,750 customers, spanning leading firms in the financial services, public, healthcare, industrial, energy & utilities, technology, consumer and retail, education and media & entertainment sectors.
CONTACT: News Media Contact: Natalie Rizk CTP 617-412-4000 x227 nrizk@ctpboston.com
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RegEd to Participate in 2015 FINRA Advertising Regulation Conference and Host Client Advisory Board
Raleigh, NC, Sept. 29, 2015 (GLOBE NEWSWIRE) -- RegEd, the leading provider of compliance and risk management technology to broker-dealers and other financial services firms, including the industry-leading Advertising Review solution, announced its participation in the 2015 FINRA Advertising Regulation Conference in Washington, DC, on October 8-9, 2015.
FINRA's Advertising Regulation Conference provides a forum to learn about practical changes and new developments involving communications rules, and the opportunity to gain guidance on the advertising standards from industry and FINRA experts.
"In today's evolving industry, managing the advertising review, approval and document management processes can present significant challenges for financial services firms," stated Nicole Klemm, RegEd's Advertising Review Product Manager. "The process must fully address compliance requirements pursuant to FINRA Rule 2210 and other customer communication regulations, while facilitating a seamless review process that enables all stakeholders to increase the quality and effectiveness of the firm's marketing communications, while speeding time to market."
Klemm continued, "The FINRA Advertising Regulation Conference provides an important forum for regulators, industry firms and solution providers, like RegEd, to engage in dialogue about evolving regulation and solving the related compliance and operational challenges."
Prior to the start of the conference, RegEd will host its Advertising Review Client Advisory Board (CAB). The CAB will focus on best-practice implementation of recent and upcoming enhancements to RegEd's Advertising Review Enterprise solution, while providing an important forum for RegEd's Advertising Review product roadmap and future innovation.
The RegEd booth will be located in the main exhibit hall of the Renaissance Washington, DC Downtown Hotel.
About RegEd
RegEd is a leading provider of compliance technology solutions with relationships with more than 400 enterprise clients, including 80% of the top 25 broker-dealers and top 25 insurance companies. Established in 1994 by former regulators, the company is a recognized industry authority and has created the standard of excellence for rule-based and content-driven compliance automation for insurance companies, investment advisors and broker-dealers. RegEd solutions drive new levels of operational efficiency and enable firms to cost-effectively comply with regulations and mitigate risk. For more information, visit www.reged.com.
CONTACT: Eric Clements, 412-335-2281
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Skkynet Teams with Red Lion Controls to Expand Secure IIoT Services
Mississauga, Ontario, Sept. 29, 2015 (GLOBE NEWSWIRE) -- Skkynet Cloud Systems, Inc. ("Skkynet" or "the Company") (OTCQB: SKKY), a global leader in real-time cloud information systems, announces a new collaboration with Red Lion Controls that provides industrial automation engineers and managers with highly secure, real-time communication that seamlessly integrates with the Industrial Internet of Things (IIoT). The collaboration employs Skkynet's Embedded Toolkit (ETK) in combination with Red Lion's Sixnet® series IndustrialPro® cellular routers and Data Station Plus protocol converters. Together, the system supports over 300 industrial protocols to link devices to Skkynet's SkkyHub™ for secure, bidirectional, real-time communication.
"There are a number of major hurdles to becoming IIoT-ready, most importantly security and multi-protocol communication," said Paul Thomas, President of Skkynet. "A primary objective of this collaboration was to integrate our ETK on Red Lion's IndustrialPro cellular routers, thereby providing secure connectivity to SkkyHub, with no open firewall ports, VPN or programming required. The end result is secure, real-time monitoring, control, networking, and big data collection at a far lower total cost of ownership (TCO)."
"Becoming IIoT-ready can be a daunting task for many organizations with legacy devices that do not speak the same language," said Brian Rosema, director of IIoT strategy for Red Lion Controls. "With support for more than 300 industrial protocols, our Data Station Plus protocol converters and rugged cellular routers work in tandem with SkkyHub to connect devices, thereby improving process visibility and pushing control to the edge. The result is a robust, fully integrated IIoT solution that connects virtually any device to any other device or user."
Skkynet's SkkyHub service provides secure, end-to-end bidirectional connectivity between the Sixnet IndustrialPro series routers and end users at all levels, from operators and plant engineers to managers, analysts, and customers. The service is capable of handling over 50,000 data changes per second per client, at speeds just a few milliseconds over Internet latency. Secure by design, it requires no VPN, no open firewall ports, no special programming, and no additional hardware.
About Red Lion Controls
As the global experts in communication, monitoring and control for industrial automation and networking, Red Lion Controls has been delivering innovative solutions to customers for over forty years. Our automation, Ethernet and cellular M2M technology enables companies worldwide to gain real-time data visibility that drives productivity. Product brands include Red Lion, N-Tron and Sixnet. With headquarters in York, Pennsylvania, the company has offices across the Americas, Asia-Pacific and Europe. Red Lion is part of Spectris plc, the productivity-enhancing instrumentation and controls company. For more information, please visit www.redlion.net.
About Skkynet Cloud Systems, Inc.
Skkynet Cloud Systems, Inc. (OTCQB: SKKY) is a global leader in real-time cloud information systems. Skkynet Connected Systems include the award-winning SkkyHub™ service that collects, processes, and distributes real-time information over networks, locally and remotely, as well as DataHub® and WebView™ proven middleware products that enable real-time data integration and distribution for industrial, embedded, and financial systems. These services and products allow data-intensive organizations to safely and securely manage, supervise, and control industrial processes, embedded devices, and financial information systems, with no programming required. Customers include Microsoft, Siemens, ABB, Honeywell, IBM, GE, Statoil, Goodyear, BASF, Cadbury Chocolate, and the Bank of Canada. For more information, see http://skkynet.com.
Safe Harbor
This news release contains "forward-looking statements" as that term is defined in the United States Securities Act of 1933, as amended and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. We assume no obligation to update the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
CONTACT: Skkynet Cloud Systems, Inc. Paul E. Thomas, President Office: (888) 628-2028 Fax: (888) 705-5366 Web: http://skkynet.com Email: ir@skkynet.com
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NetSol Technologies Signs Two New Agreements in China to Provide Finance and Leasing Software Solution
CALABASAS, Calif., and BEIJING, Sept. 29, 2015 (GLOBE NEWSWIRE) -- NetSol Technologies, Inc. (Nasdaq:NTWK), a global business services and enterprise application solutions provider, was selected by Taiwan Acceptance Corporation Finance Leasing Co., Ltd. ("TAC Leasing"), an entity approved by the China Ministry of Commerce, and Yulon Auto Finance Company ("Yulon"), an entity approved by the China Banking Regulatory Commission, to implement applications of the NetSol Financial SuiteTM. Both companies are affiliated with the Taiwan Acceptance Corporation, and Yulon is the first auto finance company in China to receive investment from the Taiwan Group.
TAC Leasing will implement the NetSol Financial Suite Credit Application Processing System (CAP) and Contract Management System (CMS) for retail business operations. Yulon will implement CAP, CMS and the Wholesale Finance System (WFS) as its core business solution. The agreements have a combined value of approximately $3.0 million, which include business process consulting, customization and on-site implementation services, and are expected to be completed within the next six months.
"We are proud to have been selected by TAC Leasing and Yulon to help further their growth objectives in China," said Najeeb Ghauri, CEO of NetSol. "These new contracts further our market leadership position in the asset finance and leasing sector in China, and represent the trust in our people, process and systems to manage vital business functions. With new companies entering the market and the encouragement of financing and leasing by the Chinese government, we remain highly confident about our prospects moving forward."
In 2015, NetSol was awarded "First Rate and Best Selling Finance and Leasing Solution Provider" at the annual China Leasing Summit for the third consecutive year.
About NetSol Technologies
NetSol Technologies, Inc. (Nasdaq:NTWK) is a worldwide provider of IT and enterprise software solutions primarily serving the global leasing and financing industry. The Company's suite of applications are backed by 40 years of domain expertise and supported by a committed team of more than 1000 professionals placed in eight strategically located support and delivery centers throughout the world. To sign up to receive news alerts and regulatory filing notifications, please visit http://ir.netsoltech.com/email-alerts.
Forward-Looking Statements
This press release may contain forward-looking statements relating to the development of the Company's products and services, future operation results, the market in China, implementation time frames, including statements regarding the Company that are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. The words "expects," "anticipates," variations of such words, and similar expressions, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, but their absence does not mean that the statement is not forward-looking. These statements are not guarantees of future performance and are subject to certain risks, uncertainties, and assumptions that are difficult to predict. Factors that could affect the Company's actual results include the progress and costs of the development of products and services and the timing of the market acceptance. The subject Companies expressly disclaim any obligation or undertaking to update or revise any forward-looking statement contained herein to reflect any change in the company's expectations with regard thereto or any change in events, conditions or circumstances upon which any statement is based.
Investor Contacts:
PondelWilkinson
Matt Sheldon | investors@netsoltech.com
(310) 279-5980Media Contacts:
PondelWilkinson
George Medici | gmedici@pondel.com
(310) 279-5968
