KUALA LUMPUR, Jan 26 (Bernama) -- Vonage, a global leader in cloud communications has revealed that consumers continue to prefer a range of channel options when communicating with businesses, with mobile phone calls (36 per cent), messaging/non-short message service (SMS) apps (31 per cent) and phone calls via apps (29 per cent) ranking high in preference.
However, less than half (42 per cent) indicated they are “very satisfied” when communicating with businesses, according to Vonage's Global Customer Engagement Report 2024.
The 12th annual report outlines data and insights into customer communications preferences with businesses, highlighting emerging trends that emphasise the need to augment these interactions with artificial intelligence (AI) to enhance customer engagement.
In Asia Pacific (APAC), consumers revealed that mobile phone calls (73 per cent) are the most common method used by customers, followed by phone calls via messaging apps (60 per cent), messaging via non-SMS apps (64 per cent), emails (50 per cent) and social media posts (47 per cent).
The report also found that 80 per cent of APAC customers are likely to take their business elsewhere as a result of poor experiences, and 61 per cent of consumers will not tolerate bad experiences and will walk away after just one or two bad encounters.
These findings underscore opportunities to leverage AI. By utilising AI-based virtual assistants, businesses are equipped to provide quick resolution, reduce frustrations and ultimately provide a more targeted and personalised experience for the user.
According to Vonage in a statement, report findings demonstrate that consumers are embracing AI to make their experiences better.
In fact, responses show a likelihood that chatbot and video chat usage will more than double within the next year, with 10 per cent using chatbots currently and 23 per cent expected usage in the next six to 12 months; while 13 per cent indicate using video chat currently, with 26 per cent expected usage in the next six to 12 months.
Furthermore, with 56 per cent of consumers indicating they are likely to offer positive survey feedback after a great experience with a business and 55 per cent noting they would share their experience with friends and family, it is clear that great experiences create valuable brand ambassadors.
The survey was conducted in October 2023, and it is based on nearly 7,000 consumer responses from 17 countries, including Australia, China, India, Indonesia, Japan, Singapore and South Korea.
-- BERNAMA
Friday 26 January 2024
CONSUMERS ADOPT AI FOR IMPROVED EXPERIENCES - VONAGE REPORT
Sunday 21 January 2024
Edusity Offers Simultaneous Live Translation In Webinars
KUALA LUMPUR, Jan 19 (Bernama) -- Edusity, a pioneer in educational technology has introduced Languisity, a revolutionary real-time language translation tool designed for seamless communication during webinars.
According to Edusity in a statement, this cutting-edge platform empowers participants worldwide to choose their language, breaking down barriers and enabling global communication for presenters.
“Languisity addresses real-world challenges faced by global organisations. The goal is to empower businesses to communicate seamlessly, break down barriers, and unlock new possibilities on a global scale,” said its Co-Founder, Arvind Betala.
Languisity’s key features include real-time translation services with seamlessly accurate language translation tailored to the needs of user's global organisation; and effortless communication whereby users can break through linguistic barriers with instant language translation, expanding their ability to communicate with anyone globally.
In addition, with dynamic global webinars, Languisity transforms global webinars into smooth, productive, and inclusive experiences with instant translation and user-friendly collaboration features.
The platform also eliminates language barriers for international teams or students, making global webinars efficient, effective, and truly global with its multi-lingual communication feature.
Edusity is committed to transforming global communication and collaboration via innovative solutions for seamless real-time learning.
-- BERNAMA
Friday 19 January 2024
NIPPON EXPRESS HOLDINGS TAKES MINORITY STAKE IN WIZ FREIGHT, INDIA'S LEADING DIGITAL FORWARDING SERVICE PROVIDER
AsiaNet 100625
TOKYO, Jan. 19, 2024 /Kyodo JBN-AsiaNet/ --
NIPPON EXPRESS HOLDINGS, INC. acquired a minority equity stake in Wiz Freight (hereinafter "Wiz"), a leading digital forwarding service provider in India, on January 12 as its third investment made via the NX Global Innovation Fund, a corporate venture capital (CVC) fund established in January 2023.
Logos:
Wiz: https://kyodonewsprwire.jp/img/202401155299-O3-27ZY3v6W
NX: https://kyodonewsprwire.jp/img/202401155299-O1-UAs7xMsJ
Profile of Wiz
Wiz, founded in India in 2020, addresses rapidly growing needs for digital cross-border supply chain services in emerging countries. The company has more than 900 employees working at over 25 offices in six countries/regions (India, UAE, Hong Kong, Singapore, Thailand, and USA). Using cutting-edge technology, the company provides digital forwarding services for the global supply chain sector.
Investment background and objectives
The international logistics industry has been facing major challenges in recent years, among them being the increasing complexity of supply chain and the standardization/streamlining of trade operations due to the expansion of global transactions. It is thus expected that international logistics operations will become ever more digitized to create logistics platforms that optimize logistics by standardizing arrangements and visualizing information such as operational progress and transport status.
In view of these circumstances, the Nippon Express (hereinafter "NX") Group has been pursuing digital transformation (DX) and, in July of last year, it launched e-NX Quote and e-NX Visibility, both digital forwarding services that enable online quotation and tracking. To further promote DX, the Group has been actively exploring the use of external resources, including collaborations with startup companies in Japan and overseas, as one solution.
By investing in Wiz, a company strong in digital forwarding services in India and other emerging markets, the NX Group will bolster its own global forwarding business and accelerate its DX initiatives.
The NX Group will continue co-creating* new business values with promising startups by leveraging its domestic and international networks.
*Co-creation activities refer to collaborations between NX Group companies and CVC to invest in startups that will offer added value to customers and on-site operations, with the NX Group and the startups working together to achieve business growth.
Profile of investee:
https://kyodonewsprwire.jp/attach/202401155299-O1-3WvwmTgz.pdf
Official websites:
Wiz: https://wizfreight.com/
NX: https://www.nipponexpress.com/
NX Group's LinkedIn:
https://www.linkedin.com/company/nippon-express-group/
Source: NIPPON EXPRESS HOLDINGS, INC.
NIPPON EXPRESS HOLDINGS, INC. acquired a minority equity stake in Wiz Freight (hereinafter "Wiz"), a leading digital forwarding service provider in India, on January 12 as its third investment made via the NX Global Innovation Fund, a corporate venture capital (CVC) fund established in January 2023.
Logos:
Wiz: https://kyodonewsprwire.jp/img/202401155299-O3-27ZY3v6W
NX: https://kyodonewsprwire.jp/img/202401155299-O1-UAs7xMsJ
Profile of Wiz
Wiz, founded in India in 2020, addresses rapidly growing needs for digital cross-border supply chain services in emerging countries. The company has more than 900 employees working at over 25 offices in six countries/regions (India, UAE, Hong Kong, Singapore, Thailand, and USA). Using cutting-edge technology, the company provides digital forwarding services for the global supply chain sector.
Investment background and objectives
The international logistics industry has been facing major challenges in recent years, among them being the increasing complexity of supply chain and the standardization/streamlining of trade operations due to the expansion of global transactions. It is thus expected that international logistics operations will become ever more digitized to create logistics platforms that optimize logistics by standardizing arrangements and visualizing information such as operational progress and transport status.
In view of these circumstances, the Nippon Express (hereinafter "NX") Group has been pursuing digital transformation (DX) and, in July of last year, it launched e-NX Quote and e-NX Visibility, both digital forwarding services that enable online quotation and tracking. To further promote DX, the Group has been actively exploring the use of external resources, including collaborations with startup companies in Japan and overseas, as one solution.
By investing in Wiz, a company strong in digital forwarding services in India and other emerging markets, the NX Group will bolster its own global forwarding business and accelerate its DX initiatives.
The NX Group will continue co-creating* new business values with promising startups by leveraging its domestic and international networks.
*Co-creation activities refer to collaborations between NX Group companies and CVC to invest in startups that will offer added value to customers and on-site operations, with the NX Group and the startups working together to achieve business growth.
Profile of investee:
https://kyodonewsprwire.jp/attach/202401155299-O1-3WvwmTgz.pdf
Official websites:
Wiz: https://wizfreight.com/
NX: https://www.nipponexpress.com/
NX Group's LinkedIn:
https://www.linkedin.com/company/nippon-express-group/
Source: NIPPON EXPRESS HOLDINGS, INC.
Wednesday 17 January 2024
LUBRIZOL ADDITIVES INDIA HONORED AT ROSEFIELD ENERGY TECH AWARDS
The Rosefield Energy Tech Awards, which recognizes innovation and leadership in the lubricants and fuels industry in India, bestowed honors on Lubrizol India for technological advancement and supply chain resilience
CLEVELAND, Jan 16 (Bernama-BUSINESS WIRE) -- Lubrizol Additives was recently presented with two honors at the Rosefield Energy Tech Awards, a Mumbai-based conference that recognizes leadership and innovation in the lubricants and fuels market.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20240115223683/en/
CLEVELAND, Jan 16 (Bernama-BUSINESS WIRE) -- Lubrizol Additives was recently presented with two honors at the Rosefield Energy Tech Awards, a Mumbai-based conference that recognizes leadership and innovation in the lubricants and fuels market.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20240115223683/en/
Lubrizol received the Technology Advancement Award for its development and advocacy for the Wire Corrosion Test (WCT), which represents an advancement in assessing how well lubricants protect materials from corrosion in an electric vehicle (EV) environment. This is a major improvement over the corrosion strip tests that have been the industry's mainstay for 100 years.
Lubrizol also won the Supply Chain Excellence Award, being recognized for resilience and agility in overcoming challenges, especially during the COVID-19 pandemic.
“We’re honored to be recognized by Rosefield, an organization that is committed to the advancement of our industry,” said Sanjeev Kaul, Vice President, Lubrizol Additives India, Middle East, Africa. “These awards are validation of the hard work our teams put in toward innovation and outstanding customer service every day.”
In winning the Technology Advancement Award, the team at Lubrizol India demonstrated that the WCT provides data directly applicable to the real-world vehicle environment. Such testing is increasingly important today as more electronics and electric motors are in contact with the lubricants. Through this novel and patented test method, the industry can better evaluate the right fluids to protect hardware from corrosion in an EV environment. Also, this test demonstrate efficacy of the fluid in vapor phase protection. Further, Lubrizol’s dedicated EV technology, EVOGEN™, demonstrates superior performance features in EV immersion cooling applications, resulting in enhanced efficiency of e-motor & gears and improved safety, helping to usher in a new era of EV performance and reliability.
The Supply Chain Excellence Award recognized Lubrizol’s efforts and partnerships with suppliers and service providers, its aggressive localization drive for supply consistency, a safe and efficient logistics strategy, and focus on customer service with a commitment toward operational excellence.
“We’re appreciative that our efforts are being recognized in the industry, and we’re excited to continue to be a part of the important work Rosefield Energy Tech is doing,” added Kaul. “Supply chain strength, continued innovation and remaining in front of future technology are important for our collective success.”
The Rosefield Awards are instituted by Rosefield Energy Tech, an organization whose key objective is to bring together leaders of the energy sector. The participants and nominees included lubricant, fuel and additive players active in the Indian market. The awards were part of their two-day Lubricants & Fuels conference wherein the industry discussed many crucial topics such as future fuel conundrums and matching lubricants solutions, evolving technologies and innovation in lubricants and fuels, innovation in e-fluids and the outlook for 2030.
For more information, visit www.Lubrizol.com.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, leverages its unmatched science and innovation to solve complex challenges for customers, drive sustainable and measurable results, and help millions of people, communities and businesses around the world move cleaner, create smarter and live better every day. Founded in 1928, Lubrizol owns and operates more than 100 manufacturing facilities, sales and technical offices around the world and has more than 8,000 employees. For more information, visit www.Lubrizol.com.
Lubrizol also won the Supply Chain Excellence Award, being recognized for resilience and agility in overcoming challenges, especially during the COVID-19 pandemic.
“We’re honored to be recognized by Rosefield, an organization that is committed to the advancement of our industry,” said Sanjeev Kaul, Vice President, Lubrizol Additives India, Middle East, Africa. “These awards are validation of the hard work our teams put in toward innovation and outstanding customer service every day.”
In winning the Technology Advancement Award, the team at Lubrizol India demonstrated that the WCT provides data directly applicable to the real-world vehicle environment. Such testing is increasingly important today as more electronics and electric motors are in contact with the lubricants. Through this novel and patented test method, the industry can better evaluate the right fluids to protect hardware from corrosion in an EV environment. Also, this test demonstrate efficacy of the fluid in vapor phase protection. Further, Lubrizol’s dedicated EV technology, EVOGEN™, demonstrates superior performance features in EV immersion cooling applications, resulting in enhanced efficiency of e-motor & gears and improved safety, helping to usher in a new era of EV performance and reliability.
The Supply Chain Excellence Award recognized Lubrizol’s efforts and partnerships with suppliers and service providers, its aggressive localization drive for supply consistency, a safe and efficient logistics strategy, and focus on customer service with a commitment toward operational excellence.
“We’re appreciative that our efforts are being recognized in the industry, and we’re excited to continue to be a part of the important work Rosefield Energy Tech is doing,” added Kaul. “Supply chain strength, continued innovation and remaining in front of future technology are important for our collective success.”
The Rosefield Awards are instituted by Rosefield Energy Tech, an organization whose key objective is to bring together leaders of the energy sector. The participants and nominees included lubricant, fuel and additive players active in the Indian market. The awards were part of their two-day Lubricants & Fuels conference wherein the industry discussed many crucial topics such as future fuel conundrums and matching lubricants solutions, evolving technologies and innovation in lubricants and fuels, innovation in e-fluids and the outlook for 2030.
For more information, visit www.Lubrizol.com.
About The Lubrizol Corporation
The Lubrizol Corporation, a Berkshire Hathaway company, leverages its unmatched science and innovation to solve complex challenges for customers, drive sustainable and measurable results, and help millions of people, communities and businesses around the world move cleaner, create smarter and live better every day. Founded in 1928, Lubrizol owns and operates more than 100 manufacturing facilities, sales and technical offices around the world and has more than 8,000 employees. For more information, visit www.Lubrizol.com.
http://mrem.bernama.com/viewsm.php?idm=47889
Tuesday 16 January 2024
CHINA INTERNATIONAL IMPORT EXPO WELCOMES MORE GLOBAL FIRMS TO EXPLORE VAST OPPORTUNITIES
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SHANGHAI, Jan 15 (Bernama-BUSINESS WIRE) -- The 7th CIIE will kick off another series of global roadshows from January 15 to 24 in Southeast Asian countries, including Vietnam, Thailand and Malaysia, and invite more local businesses to participate in CIIE 2024.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20240114331755/en/
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20240114331755/en/
At a CIIE promotional seminar held in Geneva, Switzerland on December 6, the CIIE Bureau signed an MOU with the Swiss Center regarding the participation of more Swiss businesses, especially SMEs, at the seventh edition of the expo.
"The CIIE demonstrates China's support for the UN's 2030 Agenda for Sustainable Development," said Sun Chenghai, deputy director of the CIIE Bureau. "It aims to help global companies, especially those from least developed and developing countries, unlock trade potential and seize market opportunities."
As the world's first national-level import-themed expo, the annual CIIE has been hailed by many as a great platform to showcase innovation, engage with stakeholders, and exchange ideas.
The sixth CIIE, which concluded on November 10, 2023 in Shanghai, welcomed participants from 154 countries, regions and international organizations, and yielded record-breaking deals. The value of intended deals inked during the six-day expo was $78.41 billion, 6.7 percent higher than the previous year.
More than 3,400 enterprises, including 289 of the world's top 500 enterprises and industry giants, showed off 442 new technologies, products, and services at the Business Exhibition.
The Country Exhibition allowed 72 countries and international organizations to showcase their scientific and technological achievements, culture and art.
The sixth Hongqiao International Economic Forum set sights on tackling worldwide challenges. As a crucial part of the expo, the sixth Hongqiao International Economic Forum, also known as Hongqiao Forum, had a record attendance of more than 8,000 participants.
The fact that international organizations such as the United Nations Conference on Trade and Development (UNCTAD), the United Nations Industrial Development Organization (UNIDO), and International Trade Center (ITC) co-hosted a record number of sub-forums was another highlight of the sixth Hongqiao Forum.
Come and join us! So far, more than 200 companies, including industry players and SMEs, have already booked over 100,000 square meters of exhibition area for the seventh CIIE, which is scheduled to take place from November 5 to 10, 2024. Grab your spot now at: https://www.ciie.org/exhibition/f/book/register?locale=en&from=press
"The CIIE demonstrates China's support for the UN's 2030 Agenda for Sustainable Development," said Sun Chenghai, deputy director of the CIIE Bureau. "It aims to help global companies, especially those from least developed and developing countries, unlock trade potential and seize market opportunities."
As the world's first national-level import-themed expo, the annual CIIE has been hailed by many as a great platform to showcase innovation, engage with stakeholders, and exchange ideas.
The sixth CIIE, which concluded on November 10, 2023 in Shanghai, welcomed participants from 154 countries, regions and international organizations, and yielded record-breaking deals. The value of intended deals inked during the six-day expo was $78.41 billion, 6.7 percent higher than the previous year.
More than 3,400 enterprises, including 289 of the world's top 500 enterprises and industry giants, showed off 442 new technologies, products, and services at the Business Exhibition.
The Country Exhibition allowed 72 countries and international organizations to showcase their scientific and technological achievements, culture and art.
The sixth Hongqiao International Economic Forum set sights on tackling worldwide challenges. As a crucial part of the expo, the sixth Hongqiao International Economic Forum, also known as Hongqiao Forum, had a record attendance of more than 8,000 participants.
The fact that international organizations such as the United Nations Conference on Trade and Development (UNCTAD), the United Nations Industrial Development Organization (UNIDO), and International Trade Center (ITC) co-hosted a record number of sub-forums was another highlight of the sixth Hongqiao Forum.
Come and join us! So far, more than 200 companies, including industry players and SMEs, have already booked over 100,000 square meters of exhibition area for the seventh CIIE, which is scheduled to take place from November 5 to 10, 2024. Grab your spot now at: https://www.ciie.org/exhibition/f/book/register?locale=en&from=press
http://mrem.bernama.com/viewsm.php?idm=47881
Monday 15 January 2024
ANALOG DEVICES DEPLOYS SAMBANOVA SUITE TO FACILITATE BREAKTHROUGH GENERATIVE AI CAPABILITIES AT ENTERPRISE SCALE
WILMINGTON, Mass. & PALO ALTO, Calif., Jan 15 (Bernama-BUSINESS WIRE) -- Analog Devices, Inc. (Nasdaq: ADI), global semiconductor leader, and SambaNova Systems, makers of the only purpose-built, full-stack AI platform, announced that ADI is deploying SambaNova Suite to spearhead its global AI transformation, making AI pervasive enterprise-wide.
“ADI is synonymous with innovation, and we have a legacy of technology leadership in bridging our physical and digital worlds for the benefit of our planet and its people,” said Alan Lee, Chief Technology Officer at ADI. “We achieve this by collaborating with our customers, providing them with technical expertise, support, and resources to help them overcome their toughest challenges. We are working with SambaNova Systems, pioneers of cutting-edge AI solutions, to rapidly deploy their enterprise-scale generative AI platform toward enabling our customers’ success.”
As part of the initial deployment, ADI will leverage the SambaNova Suite to accelerate field sales and customer enablement across its business. For example, ADI plans to leverage the technology to streamline access to its extensive data sheets, helping inform recommendations in the field, and deepen its customer connections.
“Our efforts with ADI reinforce our vision that a complete software and hardware AI stack is the right answer for today’s enterprise. This is true market validation of our product direction,” said Rodrigo Liang, Co-Founder and Chief Executive Officer of SambaNova Systems. “The SambaNova Suite solution offers a quicker way for ADI to deploy generative AI enterprise-wide with global impact. We’re delighted to be working together.”
SambaNova Suite is the first full stack, generative AI platform, from chip to models, for the enterprise. Delivered on-premises or in the cloud, the SambaNova Suite is a fully integrated platform offering state-of-the-art open-source models, which can be fine-tuned using customer data for greater accuracy. Customers retain model ownership in perpetuity, so they can turn generative AI into one of their most valuable assets.
"Generative AI adoption in the enterprise will be accelerated by more complete offerings that avoid costly and lengthy integration while also providing data privacy and model ownership to enable investment protection and high ROI," said R "Ray" Wang, Founder and Principal Analyst at Constellation Research. "Seeing generative AI moving beyond experimentation to enterprise use cases signals the next wave of market maturity has begun."
“The global deal being announced today is a significant technological advancement for the industry,” said Marshall Choy, Senior Vice President of Product at SambaNova Systems. “The work we are doing with ADI showcases SambaNova’s integrated software and hardware capabilities within enterprise-scale environments. ADI is a power user of innovation among the Fortune 500, truly underscoring our technology’s potential.”
For more information on SambaNova Suite, please visit www.sambanova.ai/products/sambanova-suite.
About Analog Devices, Inc.
Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY23 and approximately 26,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter (X).
About SambaNova Suite
SambaNova Suite is the first full stack, generative AI platform, from chip to model, optimized for enterprise and government organizations. Powered by the intelligent SN40L chip, the SambaNova Suite is a fully integrated platform, delivered on-premises or in the cloud, combined with state-of-the-art open-source models, which can be easily and securely fine-tuned using customer data for greater accuracy. Once adapted with customer data, customers retain model ownership in perpetuity, so they can turn generative AI into one of their most valuable assets.
About SambaNova Systems
Customers turn to SambaNova to quickly deploy state-of-the-art generative AI capabilities within the enterprise. Our purpose-built enterprise-scale AI platform is the technology backbone for the next generation of AI computing.
Headquartered in Palo Alto, California, SambaNova Systems was founded in 2017 by industry luminaries, and hardware and software design experts from Sun/Oracle and Stanford University. Visit us at sambanova.ai or contact us at info@sambanova.ai. Follow SambaNova Systems on Linkedin.
All trademarks and registered trademarks are the property of their respective owners.
(ADI-WEB)
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240110918352/en/
Contact
Michael Lucarelli
Vice President, Investor Relations and FP&A
Analog Devices
Investor.Relations@analog.com
Ferda Millan
Global PR and External Communications
Analog Devices
Ferda.Millan@analog.com
Virginia Jamieson
Head of External Communications
SambaNova Systems
virginia.jamieson@sambanova.ai
Source : SambaNova Systems
“ADI is synonymous with innovation, and we have a legacy of technology leadership in bridging our physical and digital worlds for the benefit of our planet and its people,” said Alan Lee, Chief Technology Officer at ADI. “We achieve this by collaborating with our customers, providing them with technical expertise, support, and resources to help them overcome their toughest challenges. We are working with SambaNova Systems, pioneers of cutting-edge AI solutions, to rapidly deploy their enterprise-scale generative AI platform toward enabling our customers’ success.”
As part of the initial deployment, ADI will leverage the SambaNova Suite to accelerate field sales and customer enablement across its business. For example, ADI plans to leverage the technology to streamline access to its extensive data sheets, helping inform recommendations in the field, and deepen its customer connections.
“Our efforts with ADI reinforce our vision that a complete software and hardware AI stack is the right answer for today’s enterprise. This is true market validation of our product direction,” said Rodrigo Liang, Co-Founder and Chief Executive Officer of SambaNova Systems. “The SambaNova Suite solution offers a quicker way for ADI to deploy generative AI enterprise-wide with global impact. We’re delighted to be working together.”
SambaNova Suite is the first full stack, generative AI platform, from chip to models, for the enterprise. Delivered on-premises or in the cloud, the SambaNova Suite is a fully integrated platform offering state-of-the-art open-source models, which can be fine-tuned using customer data for greater accuracy. Customers retain model ownership in perpetuity, so they can turn generative AI into one of their most valuable assets.
"Generative AI adoption in the enterprise will be accelerated by more complete offerings that avoid costly and lengthy integration while also providing data privacy and model ownership to enable investment protection and high ROI," said R "Ray" Wang, Founder and Principal Analyst at Constellation Research. "Seeing generative AI moving beyond experimentation to enterprise use cases signals the next wave of market maturity has begun."
“The global deal being announced today is a significant technological advancement for the industry,” said Marshall Choy, Senior Vice President of Product at SambaNova Systems. “The work we are doing with ADI showcases SambaNova’s integrated software and hardware capabilities within enterprise-scale environments. ADI is a power user of innovation among the Fortune 500, truly underscoring our technology’s potential.”
For more information on SambaNova Suite, please visit www.sambanova.ai/products/sambanova-suite.
About Analog Devices, Inc.
Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, and software technologies into solutions that help drive advancements in digitized factories, mobility, and digital healthcare, combat climate change, and reliably connect humans and the world. With revenue of more than $12 billion in FY23 and approximately 26,000 people globally working alongside 125,000 global customers, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and Twitter (X).
About SambaNova Suite
SambaNova Suite is the first full stack, generative AI platform, from chip to model, optimized for enterprise and government organizations. Powered by the intelligent SN40L chip, the SambaNova Suite is a fully integrated platform, delivered on-premises or in the cloud, combined with state-of-the-art open-source models, which can be easily and securely fine-tuned using customer data for greater accuracy. Once adapted with customer data, customers retain model ownership in perpetuity, so they can turn generative AI into one of their most valuable assets.
About SambaNova Systems
Customers turn to SambaNova to quickly deploy state-of-the-art generative AI capabilities within the enterprise. Our purpose-built enterprise-scale AI platform is the technology backbone for the next generation of AI computing.
Headquartered in Palo Alto, California, SambaNova Systems was founded in 2017 by industry luminaries, and hardware and software design experts from Sun/Oracle and Stanford University. Visit us at sambanova.ai or contact us at info@sambanova.ai. Follow SambaNova Systems on Linkedin.
All trademarks and registered trademarks are the property of their respective owners.
(ADI-WEB)
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240110918352/en/
Contact
Michael Lucarelli
Vice President, Investor Relations and FP&A
Analog Devices
Investor.Relations@analog.com
Ferda Millan
Global PR and External Communications
Analog Devices
Ferda.Millan@analog.com
Virginia Jamieson
Head of External Communications
SambaNova Systems
virginia.jamieson@sambanova.ai
Source : SambaNova Systems
Saturday 13 January 2024
QUANTEXA, ATII JOIN FORCES TO COMBAT HUMAN TRAFFICKING
KUALA LUMPUR, Jan 12 (Bernama) -- Quantexa, a global leader in Decision Intelligence (DI) solutions, announced its official corporate sponsorship and Advisory Council membership of the Anti-Human Trafficking Intelligence Initiative (ATII), to mark National Human Trafficking Awareness Day.
The ATII is a United States (US)-based nonprofit organisation whose mission is to fight human trafficking and child exploitation by providing data to advance the prevention, detection, investigation, and reporting mechanisms required to identify potential traffickers and criminal organisations.
The International Labor Organization estimates that 50 million people are victims of human trafficking globally, with human trafficking operating as a US$150 billion industry worldwide. (US$1=RM4.64)
Quantexa North American Head of Financial Crime Solutions, Clark Frogley said the company is proud to partner with ATII to support the valuable work that the organisation is doing to stop human trafficking.
“Human trafficking is often enabled by illegal financial activity and Quantexa’s deep experience helping organisations to monitor, detect, and investigate financial crimes makes us the ideal partner to support ATII’s mission.
“This partnership will aid organisations to reinforce their environmental, social, and governance (ESG) and anti-money laundering (AML) efforts which are critical to stopping human trafficking,” he said in a statement.
Meanwhile, ATII Founder and Chief Executive Officer, Aaron Kahler said: “Partnering with Quantexa grants us access to innovative AI technology that will take our mission to fight human trafficking to the next level, transforming our existing processes and providing our partners with improved data to inform investigations faster and more efficiently.”
Quantexa will provide groundbreaking DI technology, alongside its industry-leading expertise in artificial intelligence (AI)-driven financial crime prevention and detection through training and joint industry engagement.
Together, Quantexa and ATII will make pioneering global human trafficking risk data available to more organisations to transform anti-human trafficking efforts and joint initiatives between the private and public sectors.
The Quantexa DI Platform enables organisations to automate data ingestion and matching at unmatched scale and apply graph analytics to visually identify often hard-to-detect activity related to financial crime.
-- BERNAMA
Thursday 11 January 2024
EMGA SECURES A COMMITMENT FOR USD 30.0 MILLION SENIOR DEBT FINANCE FOR CITIZENS DEVELOPMENT BUSINESS FINANCE PLC IN SRI LANKA
LONDON, Jan 11 (Bernama-GLOBE NEWSWIRE) -- Emerging Markets Global Advisory LLP (EMGA), an investment bank specializing in emerging markets, has successfully secured a commitment for USD 30.0 million in senior debt finance for Citizens Development Business Finance PLC (CDB) based in Sri Lanka. EMGA originated, structured, and negotiated this financing arrangement, with the financial support provided by the U.S. International Development Finance Corporation (DFC).
Sajeev Chakkalakal, EMGA's Head of Investment Banking commented, "Despite the challenges we faced, we are delighted to have delivered again an innovative funding solution for CDB. We believe this marks a significant milestone, in being the first external funding commitment secured for a Sri Lankan NBFI in several years. It will also allow for CDB to continue to support SMEs, including female-owned enterprises, as well as the renewable energy sector in the country."
Jeremy Dobson, EMGA's Chief Operating Officer commentated, "CDB's strong financial standing enabled EMGA to navigate the prevailing macroeconomic headwinds in Sri Lanka to secure the commitment for this funding. This achievement not only underscores EMGA's expertise in navigating complex financial landscapes, but also highlights the successful collaboration between EMGA, CDB, and DFC in setting a positive precedent for a leading Sri Lankan financial institution to secure external funding in challenging economic climates.”
Maryam Khosharay, DFC’s Deputy Vice President of the Office of Development Credit commented, “We are very glad to continue DFC’s commitment to bolstering investments in Sri Lanka especially those advancing financing for women and green assets in times of economic difficulty and high energy prices.”
Commenting on the transaction, Director Corporate Finance of CDB Roshan Abeygoonewardena opined that CDB has been continually strengthening the bottom of the pyramid as an overarching ethos of its sustainability agenda. “For us women entrepreneurs, especially in the micro and SMEs is where the wheels of the economy turn. Prioritizing women’s empowerment in our business model with access to finance which in turn will spur financial independence and inclusivity will be the panacea in adding fillip to Sri Lanka’s development and economic agenda.”
Emerging Markets Global Advisory LLP (EMGA), based in London and New York helps financial institutions and corporates seeking new debt or equity capital. EMGA’s multi-national team combine the decades of experience necessary to complete transactions within most emerging countries, including Sri Lanka. EMGA continues to expand its geographic reach, solidifying its place as a preeminent, emerging market focused, niche investment bank.
Citizens Development Business Finance PLC (CDB) stands among the five largest non-Bank financial institutions in Sri Lanka and is one of the most innovative financial institutions in the country, with a strong commitment to sustainability, exemplary corporate governance, accountability, and transparency. It is renowned for disrupting the financial services industry with far-reaching technological innovations and cutting-edge financial solutions.
The U.S. International Development Finance Corporation (DFC) is the U.S. Government's development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.
Contact details
info@emergingmarketsglobaladvisory.com
SOURCE : Emerging Markets Global Advisory
Sajeev Chakkalakal, EMGA's Head of Investment Banking commented, "Despite the challenges we faced, we are delighted to have delivered again an innovative funding solution for CDB. We believe this marks a significant milestone, in being the first external funding commitment secured for a Sri Lankan NBFI in several years. It will also allow for CDB to continue to support SMEs, including female-owned enterprises, as well as the renewable energy sector in the country."
Jeremy Dobson, EMGA's Chief Operating Officer commentated, "CDB's strong financial standing enabled EMGA to navigate the prevailing macroeconomic headwinds in Sri Lanka to secure the commitment for this funding. This achievement not only underscores EMGA's expertise in navigating complex financial landscapes, but also highlights the successful collaboration between EMGA, CDB, and DFC in setting a positive precedent for a leading Sri Lankan financial institution to secure external funding in challenging economic climates.”
Maryam Khosharay, DFC’s Deputy Vice President of the Office of Development Credit commented, “We are very glad to continue DFC’s commitment to bolstering investments in Sri Lanka especially those advancing financing for women and green assets in times of economic difficulty and high energy prices.”
Commenting on the transaction, Director Corporate Finance of CDB Roshan Abeygoonewardena opined that CDB has been continually strengthening the bottom of the pyramid as an overarching ethos of its sustainability agenda. “For us women entrepreneurs, especially in the micro and SMEs is where the wheels of the economy turn. Prioritizing women’s empowerment in our business model with access to finance which in turn will spur financial independence and inclusivity will be the panacea in adding fillip to Sri Lanka’s development and economic agenda.”
Emerging Markets Global Advisory LLP (EMGA), based in London and New York helps financial institutions and corporates seeking new debt or equity capital. EMGA’s multi-national team combine the decades of experience necessary to complete transactions within most emerging countries, including Sri Lanka. EMGA continues to expand its geographic reach, solidifying its place as a preeminent, emerging market focused, niche investment bank.
Citizens Development Business Finance PLC (CDB) stands among the five largest non-Bank financial institutions in Sri Lanka and is one of the most innovative financial institutions in the country, with a strong commitment to sustainability, exemplary corporate governance, accountability, and transparency. It is renowned for disrupting the financial services industry with far-reaching technological innovations and cutting-edge financial solutions.
The U.S. International Development Finance Corporation (DFC) is the U.S. Government's development finance institution. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.
Contact details
info@emergingmarketsglobaladvisory.com
SOURCE : Emerging Markets Global Advisory
Japan’s Maiden Off-airport Check-in Service Launched At Kansai International Airport
KUALA LUMPUR, Jan 10 (Bernama) -- Airporter Inc and MUIC Kansai (Kansai Innovation Center) have initiated Japan's first off-airport check-in service at Kansai International Airport.
According to a statement, the service aims to streamline the luggage process for outbound travellers, delivering luggage directly from hotels (or designated drop-off points) to departure airports in Japan and onward to international arrival airports.
A proof of concept (PoC) project targeting JAL users departing from Kansai International Airport was successful, in which Airporter and MUIC Kansai plan to establish collaboration with major Asian airlines frequently used by international travellers visiting Japan in the future.
The service provides same-day luggage delivery between airports and hotels by Airporter, expanding its service to international airports, which enables "hands-free travel" from hotels to overseas arrival airports.
By combining Airporter's same-day luggage delivery service with online check-in provided by airlines, this service contributes to the digitisation of boarding procedures, reducing the occurrence of long queues.
For future developments, Airporter and MUIC Kansai plan to enhance their services aiming for full-scale expansion, with Expo 2025 Osaka, Kansai in sight, whereby the duo will start expanding partnerships with major Asian airlines commonly used by international travellers visiting Japan.
Furthermore, their goal is to develop dedicated equipment that can be installed in hotels, stations, and other locations, which will enable passengers to perform luggage check-in procedures at specific points within the city, allowing travellers to conveniently check in their luggage at designated locations during their journey.
-- BERNAMA
Tuesday 9 January 2024
CHAKRA GROWTH FUND FIRST TRANCHE UNVEILED, CLOSED DECEMBER 2023
KUALA LUMPUR, Jan 9 (Bernama) -- Chakra Growth Fund, a pioneering initiative committed to accelerating the transition to a low-carbon future, has launched and closed the first funding tranche in December 2023.
According to a statement, the fund aims to contribute to a more resilient future by investing in companies with cutting-edge technologies, clean energy solutions, and sustainability initiatives.
With a mission to foster sustainable practices and combat climate change, the Chakra Growth Fund is set to become a driving force in supporting innovative companies across energy, mobility, buildings, and industrials.
As the global community grapples with the urgent need to reduce carbon emissions and mitigate the impacts of climate change, the fund emerges as a dedicated financial instrument poised to make a significant impact.
“Chakra Growth Fund aims to decarbonise traditional markets by providing emerging and growth capital to businesses that measure and reduce carbon/greenhouse gas (GHG) emissions globally all the while adding profitability to the value chain.
“We have assembled an experienced set of investment professionals to find the best investments that will have significant impact and return,” said its Founder and Managing Director, Sri Purisai.
Among the key highlights of Chakra Growth Fund are its strategic investments in projects and companies focused on decarbonisation, renewable energy, energy efficiency, and sustainable practices; as well as actively seek opportunities globally.
The fund will forge partnerships with key stakeholders to create a collaborative ecosystem that fosters sustainable development and is committed to transparency and accountability, ensuring that all investments align with rigorous standards.
By providing financial support and strategic guidance, the fund aims to catalyse the development and implementation of solutions that will contribute to a sustainable and resilient future for generations to come.
-- BERNAMA
Saturday 6 January 2024
Sharp To Unveil Innovative Technologies At CES 2024
 |
| Sharp to Take Part in CES 2024, Major US Tech Event (Graphic: Business Wire) |
KUALA LUMPUR, Jan 4 (Bernama) -- Sharp Corporation announced its participation in CES 2024, one of the largest and most influential tech events in the world at Central Hall, Las Vegas Convention Center, Nevada, United States from Jan 9 to 12.
According to a statement, the company is set to broadly promote a variety of world-class technologies in the global marketplace by introducing its innovative proprietary technologies, based on the slogan “Toward the Future for a Better Life”.
Sharp's booth will feature a captivating Smart Living exhibit, with technologies that reduce various worries at home and make lives richer and more comfortable, whereby a virtual docent (explainer bot) powered by Communication Edge-LLM (CE-LLM) edge artificial intelligence (AI) technology will introduce the exhibit through natural, interactive conversation.
In addition to a high Speed Oven that features greatly reduced cooking times thanks to proprietary heating technology and optimal control of the heat source, the company is also showcasing hair dryers and upright vacuum cleaners that combine low noise and high power.
Sharp will present ideas to provide speed and efficiency to industries in the Smart Industry section, featuring camera technology that supports extended reality (XR) technology, in addition to visual representations of conversations and ideas in business settings, and information display to support daily life scenarios.
An AI Olfactory Sensor, developed by adapting display substrate technologies, enables sensing smells by mimicking living organisms, and an ion mobility spectrometry (IMS) gas analysis device using an atmospheric electron release element will also be on display.
The company's commitment to sustainability will be evident in the technologies to be showcased in the Sustainability exhibit, that produce renewable energies of the future and address environmental issues by improving power efficiency.
The display will include Reflective LCD signage for outdoor and ePoster colour electronic paper displays featuring low power consumption.
Sharp will also introduce the indoor photovoltaic device LC-LH that uses indoor light as well as offers high power generating efficiency and can supply power to Internet of Things (IoT) devices, along with a TV Remote Control with LC-LH device.
-- BERNAMA
Thursday 4 January 2024
TDCX INC. ANNOUNCES RECEIPT OF A PRELIMINARY NON-BINDING PROPOSAL TO ACQUIRE THE REMAINING OUTSTANDING CLASS A ORDINARY SHARES OF THE COMPANY
SINGAPORE, Jan 4 (Bernama-BUSINESS WIRE) -- TDCX Inc. (“TDCX” or the “Company”) (NYSE: TDCX), today announced that its board of directors (the “Board”) has received a preliminary non-binding proposal letter (the “Proposal Letter”), dated January 2, 2024, from Mr. Laurent Junique, Founder, Executive Chairman, Director, CEO, and ultimate beneficial owner of the Company (the “Founder”), to acquire all of the outstanding ordinary shares of the Company (the “Ordinary Shares”), including the Class A ordinary shares represented by the American Depositary Shares of the Company (the “ADSs”, each representing one Class A ordinary share) that are not already held by the Founder for a proposed purchase price of US$6.60 per Ordinary Share or ADS in cash (the “Proposed Transaction”). A copy of the Proposal Letter is attached hereto as Exhibit A.
The Company has formed a special committee of the Board, comprised solely of independent and disinterested directors, to consider the Proposal Letter and the Proposed Transaction and make recommendation to the Board. The Board expects that the special committee will retain independent legal and financial advisors to assist in the review of the Proposed Transaction. The Company cautions that the Board has just received the Proposal Letter and has not made any decisions with respect to the Proposal Letter and the Proposed Transaction. There can be no assurance that the Founder will make any definitive offer to the Company, that any definitive agreement relating to the Proposal Letter will be entered into between the Company and the Founder, or that the Proposed Transaction or any other similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.
About TDCX Inc.
Singapore-headquartered TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and to protect their online communities.
TDCX helps clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint. It serves clients in fintech, gaming, technology, travel and hospitality, digital advertising and social media, streaming and e-commerce. TDCX’s expertise and strong footprint in Asia has made it a trusted partner for clients, particularly high-growth, new economy companies, looking to tap the region’s growth potential.
TDCX’s commitment to delivering positive outcomes for our clients extends to its role as a responsible corporate citizen. Its Corporate Social Responsibility program focuses on positively transforming the lives of its people, its communities and the environment.
TDCX employs more than 17,800 employees across 30 campuses globally, specifically in Brazil, Colombia, Hong Kong, India, Indonesia, Japan, Malaysia, Mainland China, Philippines, Romania, Singapore, South Korea, Spain, Thailand, Türkiye, and Vietnam. For more information, please visit www.tdcx.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the performance of TDCX’s largest clients; the successful implementation of its business strategy; the continued service of the Founder and certain of its key employees and management; its ability to compete effectively; its ability to navigate difficulties and successfully expand its operations into countries in which it has no prior operating experience; its ability to maintain its pricing, control costs or continue to grow its business; its ability to attract and retain enough highly trained employees; its compliance with service level and performance requirements by, and contractual obligations with, its clients; its exposure to various risks in Southeast Asia and other parts of the world; its contractual relationship with key clients; clients and prospective clients’ spending on omnichannel CX solutions and content, trust and safety services; its ability to successfully identify, acquire and integrate companies; its spending on employee salaries and benefits expenses; and its involvement in any disputes, legal, regulatory, and other proceedings arising out of its business operations. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in its attachment is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Exhibit A
Preliminary Non-binding Proposal to Acquire the remaining outstanding class A ordinary shares of TDCX Inc.
January 2, 2024
The Board of Directors
TDCX Inc. (the “Company”)
750D Chai Chee Road
#06-01/06, ESR BizPark
Singapore 469004
Singapore
Dear Sirs:
I, Laurent Bernard Marie Junique, Founder, Executive Chairman and CEO of TDCX Inc, am pleased to submit this preliminary non-binding proposal (the “Proposal”) to acquire all of the outstanding Class A ordinary shares of TDCX Inc. (the “Ordinary Shares”), including the Class A ordinary shares represented by the American Depositary Receipts of the Company (the “ADSs”, each representing one Class A ordinary share) that are not already owned by me and my affiliates in a going private transaction (the “Transaction”).
I beneficially own approximately 86.1% of all the issued and outstanding shares (including Class A ordinary shares and Class B ordinary shares), representing approximately 98.4% of the aggregate voting power of the Company, based on the Company’s latest outstanding number of shares as publicly disclosed. It is my firm and reasonable belief that my proposal provides an attractive opportunity to the Company’s shareholders.
I am prepared to consummate the Transaction as outlined in the key terms and conditions as set forth below.
1. Buyer. I propose to acquire the outstanding shares of the Company that are not already held by me and my affiliates. I intend to complete such purchase through Transformative Investments Pte Ltd, the principal shareholder of the Company. I am the beneficial owner of all the shares in Transformative Investments Pte Ltd. In considering the Proposal, you should be aware that I am interested only in acquiring the outstanding shares of the Company that I do not already own, and that I do not currently intend to sell my shares in the Company to any third party.
2. Purchase Price. The proposed price for each Ordinary Share or ADS is US$6.60 in cash. This represents a 36% premium to the closing price on the last trading day prior to the date of this proposal and a premium of 39% to the volume-weighted average price during the last 30 trading days.
3. Funding. I will finance the Transaction with a combination of my own existing cash and a debt facility. I expect that the commitments for the required funding to be in place when the Definitive Agreements (as defined below) are signed and the closing of the Transaction will not be conditional on financing.
4. Due Diligence. Parties providing financing will require a timely opportunity to conduct customary due diligence on the Company. I would like to ask the Board to accommodate such due diligence request and approve the provision of confidential information relating to the Company and its business to possible sources of debt financing subject to a customary form of confidentiality agreement.
5. Definitive Agreements. I am prepared to promptly prepare, negotiate and finalize definitive agreements (the “Definitive Agreements”) for the Transaction. These documents will provide for representations, warranties, covenants and conditions that are typical, customary and appropriate for transactions of this type.
6. Process. I expect the Board would decide that a special committee be established that comprises independent and disinterested directors of the Company (the “Special Committee”). The Special Committee and its advisors will be exclusively authorized to consider and negotiate the proposed Transaction, including the Definitive Agreements, on behalf of the Company and no other members of management or any other directors other than the members of the Special Committee will participate in any deliberations and decisions related to the Transaction on behalf of the Company unless approved by the Special Committee.
7. Confidentiality. I will, as required by law, timely file a Schedule 13D to disclose this Proposal. I believe it would be in all of our interests to ensure that our discussions relating to the Transaction proceed in a confidential manner, unless otherwise required by law, until we have executed the Definitive Agreements or terminated our discussions.
8. No Binding Commitment. This letter does not contain all matters upon which agreement must be reached in order to consummate the proposed Transaction described above, constitutes only a preliminary indication of my interest, and does not represent any binding commitment with respect to the Transaction. A binding commitment will result only from the execution of Definitive Agreements, and then will be on terms and conditions provided in such documentation. Nothing herein shall obligate any person to engage in or continue discussions regarding the proposed Transaction, and any of us may terminate discussions at any time for any reason or no reason. Nothing in this letter constitutes an offer capable of acceptance to create legally binding obligations. Any actions taken by any person in reliance on this Proposal shall be at that person’s own risk and cost.
In conclusion, I would like to express my strong commitment to work together to bring the Transaction to a successful and timely conclusion. If you have any questions regarding this proposal, please do not hesitate to contact me.
I look forward to hearing from you.
Sincerely,
By : /s/ Laurent Bernard Marie Junique
Name : Laurent Bernard Marie Junique
Title : Executive Chairman and Chief Executive Officer
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240103887091/en/
Contact
For enquiries:
Investors / Analysts: Joana Cheong
investors@tdcx.com
Media: Eunice Seow
media@tdcx.com
Source : TDCX INC.
The Company has formed a special committee of the Board, comprised solely of independent and disinterested directors, to consider the Proposal Letter and the Proposed Transaction and make recommendation to the Board. The Board expects that the special committee will retain independent legal and financial advisors to assist in the review of the Proposed Transaction. The Company cautions that the Board has just received the Proposal Letter and has not made any decisions with respect to the Proposal Letter and the Proposed Transaction. There can be no assurance that the Founder will make any definitive offer to the Company, that any definitive agreement relating to the Proposal Letter will be entered into between the Company and the Founder, or that the Proposed Transaction or any other similar transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.
About TDCX Inc.
Singapore-headquartered TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and to protect their online communities.
TDCX helps clients achieve their customer experience aspirations by harnessing technology, human intelligence and its global footprint. It serves clients in fintech, gaming, technology, travel and hospitality, digital advertising and social media, streaming and e-commerce. TDCX’s expertise and strong footprint in Asia has made it a trusted partner for clients, particularly high-growth, new economy companies, looking to tap the region’s growth potential.
TDCX’s commitment to delivering positive outcomes for our clients extends to its role as a responsible corporate citizen. Its Corporate Social Responsibility program focuses on positively transforming the lives of its people, its communities and the environment.
TDCX employs more than 17,800 employees across 30 campuses globally, specifically in Brazil, Colombia, Hong Kong, India, Indonesia, Japan, Malaysia, Mainland China, Philippines, Romania, Singapore, South Korea, Spain, Thailand, Türkiye, and Vietnam. For more information, please visit www.tdcx.com.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “predicts,” “intends,” “trends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words. The Company may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the performance of TDCX’s largest clients; the successful implementation of its business strategy; the continued service of the Founder and certain of its key employees and management; its ability to compete effectively; its ability to navigate difficulties and successfully expand its operations into countries in which it has no prior operating experience; its ability to maintain its pricing, control costs or continue to grow its business; its ability to attract and retain enough highly trained employees; its compliance with service level and performance requirements by, and contractual obligations with, its clients; its exposure to various risks in Southeast Asia and other parts of the world; its contractual relationship with key clients; clients and prospective clients’ spending on omnichannel CX solutions and content, trust and safety services; its ability to successfully identify, acquire and integrate companies; its spending on employee salaries and benefits expenses; and its involvement in any disputes, legal, regulatory, and other proceedings arising out of its business operations. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in its attachment is as of the date of this press release, and the Company undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Exhibit A
Preliminary Non-binding Proposal to Acquire the remaining outstanding class A ordinary shares of TDCX Inc.
January 2, 2024
The Board of Directors
TDCX Inc. (the “Company”)
750D Chai Chee Road
#06-01/06, ESR BizPark
Singapore 469004
Singapore
Dear Sirs:
I, Laurent Bernard Marie Junique, Founder, Executive Chairman and CEO of TDCX Inc, am pleased to submit this preliminary non-binding proposal (the “Proposal”) to acquire all of the outstanding Class A ordinary shares of TDCX Inc. (the “Ordinary Shares”), including the Class A ordinary shares represented by the American Depositary Receipts of the Company (the “ADSs”, each representing one Class A ordinary share) that are not already owned by me and my affiliates in a going private transaction (the “Transaction”).
I beneficially own approximately 86.1% of all the issued and outstanding shares (including Class A ordinary shares and Class B ordinary shares), representing approximately 98.4% of the aggregate voting power of the Company, based on the Company’s latest outstanding number of shares as publicly disclosed. It is my firm and reasonable belief that my proposal provides an attractive opportunity to the Company’s shareholders.
I am prepared to consummate the Transaction as outlined in the key terms and conditions as set forth below.
1. Buyer. I propose to acquire the outstanding shares of the Company that are not already held by me and my affiliates. I intend to complete such purchase through Transformative Investments Pte Ltd, the principal shareholder of the Company. I am the beneficial owner of all the shares in Transformative Investments Pte Ltd. In considering the Proposal, you should be aware that I am interested only in acquiring the outstanding shares of the Company that I do not already own, and that I do not currently intend to sell my shares in the Company to any third party.
2. Purchase Price. The proposed price for each Ordinary Share or ADS is US$6.60 in cash. This represents a 36% premium to the closing price on the last trading day prior to the date of this proposal and a premium of 39% to the volume-weighted average price during the last 30 trading days.
3. Funding. I will finance the Transaction with a combination of my own existing cash and a debt facility. I expect that the commitments for the required funding to be in place when the Definitive Agreements (as defined below) are signed and the closing of the Transaction will not be conditional on financing.
4. Due Diligence. Parties providing financing will require a timely opportunity to conduct customary due diligence on the Company. I would like to ask the Board to accommodate such due diligence request and approve the provision of confidential information relating to the Company and its business to possible sources of debt financing subject to a customary form of confidentiality agreement.
5. Definitive Agreements. I am prepared to promptly prepare, negotiate and finalize definitive agreements (the “Definitive Agreements”) for the Transaction. These documents will provide for representations, warranties, covenants and conditions that are typical, customary and appropriate for transactions of this type.
6. Process. I expect the Board would decide that a special committee be established that comprises independent and disinterested directors of the Company (the “Special Committee”). The Special Committee and its advisors will be exclusively authorized to consider and negotiate the proposed Transaction, including the Definitive Agreements, on behalf of the Company and no other members of management or any other directors other than the members of the Special Committee will participate in any deliberations and decisions related to the Transaction on behalf of the Company unless approved by the Special Committee.
7. Confidentiality. I will, as required by law, timely file a Schedule 13D to disclose this Proposal. I believe it would be in all of our interests to ensure that our discussions relating to the Transaction proceed in a confidential manner, unless otherwise required by law, until we have executed the Definitive Agreements or terminated our discussions.
8. No Binding Commitment. This letter does not contain all matters upon which agreement must be reached in order to consummate the proposed Transaction described above, constitutes only a preliminary indication of my interest, and does not represent any binding commitment with respect to the Transaction. A binding commitment will result only from the execution of Definitive Agreements, and then will be on terms and conditions provided in such documentation. Nothing herein shall obligate any person to engage in or continue discussions regarding the proposed Transaction, and any of us may terminate discussions at any time for any reason or no reason. Nothing in this letter constitutes an offer capable of acceptance to create legally binding obligations. Any actions taken by any person in reliance on this Proposal shall be at that person’s own risk and cost.
In conclusion, I would like to express my strong commitment to work together to bring the Transaction to a successful and timely conclusion. If you have any questions regarding this proposal, please do not hesitate to contact me.
I look forward to hearing from you.
Sincerely,
By : /s/ Laurent Bernard Marie Junique
Name : Laurent Bernard Marie Junique
Title : Executive Chairman and Chief Executive Officer
View source version on businesswire.com:
https://www.businesswire.com/news/home/20240103887091/en/
Contact
For enquiries:
Investors / Analysts: Joana Cheong
investors@tdcx.com
Media: Eunice Seow
media@tdcx.com
Source : TDCX INC.
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