Ambac Settles RMBS Litigations Against Bank of America

Ambac Settles RMBS Litigations Against Bank of America




Ambac Settles RMBS Litigations Against Bank of America

NEW YORK–(BUSINESS WIRE)–Ambac Financial Group (NYSE: AMBC), a financial services holding company whose subsidiaries include Ambac Assurance Corporation (“AAC”), today announced that AAC entered into an agreement to settle all of its claims1 against Bank of America and related entities for $1.84 billion.

This settlement materially exceeds the amount of subrogation recovery recorded on Ambac’s 2Q 2022 financial statements. As a result, Ambac estimates that it will record a gain with respect to the settlement of approximately $390 million, net of reinsurance and discount accretion and call premiums on AAC’s secured debt. A portion of this gain will be recognized in Ambac’s third quarter financial results and the remaining portion will be recognized in Ambac’s fourth quarter financial results.

In accordance with its contractual obligations, AAC will repay all outstanding Sitka Notes of approximately $1.21 billion (including the associated call premium) as well as approximately $213 million of Tier 2 Notes. Funds are expected to be received within 10 days following the satisfaction of certain conditions, including dismissal of the pending RMBS litigations.1 Complete third quarter financial results will depend on numerous other factors that will be included in Ambac’s third quarter 2022 Form 10-Q.

For the period ending June 30, 2022, Ambac recorded a gross subrogation recovery on its balance sheet of $1.48 billion related to RMBS representation and warranty litigation, of which, $1.38 billion related to Bank of America litigation.1 The balance of the gross subrogation recovery relates to AAC’s case against Nomura Credit & Capital, Inc. and Nomura Holding America Inc.

Claude LeBlanc, President and Chief Executive Officer, stated, “Ambac is very pleased to have reached this settlement with Bank of America, which materially advances our strategic priority to progress AAC to a stable runoff and further maximizes optionality for our legacy financial guaranty business.”

1Includes the following pending litigations: Ambac Assurance Corporation and the Segregated Account of Ambac Assurance Corporation v. Countrywide Home Loans, Inc., Countrywide Securities Corp., Countrywide Financial Corp., and Bank of America Corp. (Supreme Court of the State of New York, County of New York, Case No. 653979/2014, filed on December 30, 2014). Ambac Assurance Corporation and The Segregated Account of Ambac Assurance Corporation v. Countrywide Securities Corp., Countrywide Financial Corp. (a.k.a. Bank of America Home Loans) and Bank of America Corp. (Supreme Court of the State of New York, County of New York, Case No. 651612/2010, filed on September 28, 2010), and Ambac Assurance Corporation and The Segregated Account of Ambac Assurance Corporation v. First Franklin Financial Corporation, Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Inc., Merrill Lynch Mortgage Lending, Inc., and Merrill Lynch Mortgage Investors, Inc. (Supreme Court of the State of New York, County of New York, Case No. 651217/2012, filed April 16, 2012).

About Ambac

Ambac Financial Group, Inc. (“Ambac” or “AFG”) is a financial services holding company headquartered in New York City. Ambac’s core business is a growing specialty P&C distribution and underwriting platform. Ambac also has a legacy financial guaranty business in runoff. Ambac’s common stock trades on the New York Stock Exchange under the symbol “AMBC”. Ambac is committed to providing timely and accurate information to the investing public, consistent with our legal and regulatory obligations. To that end, we use our website to convey information about our businesses, including the anticipated release of quarterly financial results, quarterly financial, statistical and business-related information. For more information, please go to www.ambac.com.

The Amended and Restated Certificate of Incorporation of Ambac contains substantial restrictions on the ability to transfer Ambac’s common stock. Subject to limited exceptions, any attempted transfer of common stock shall be prohibited and void to the extent that, as a result of such transfer (or any series of transfers of which such transfer is a part), any person or group of persons shall become a holder of 5% or more of Ambac’s common stock or a holder of 5% or more of Ambac’s common stock increases its ownership interest.

Forward-Looking Statements

In this press release, statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as “estimate,” “project,” “plan,” “believe,” “anticipate,” “intend,” “planned,” “potential” and similar expressions, or future or conditional verbs such as “will,” “should,” “would,” “could,” and “may,” or the negative of those expressions or verbs, identify forward-looking statements. We caution readers that these statements are not guarantees of future performance. Forward-looking statements are not historical facts but instead represent only our beliefs regarding future events, which may by their nature be inherently uncertain and some of which may be outside our control. These statements may relate to plans and objectives with respect to the future, among other things which may change. We are alerting you to the possibility that our actual results may differ, possibly materially, from the expected objectives or anticipated results that may be suggested, expressed or implied by these forward-looking statements. Important factors that could cause our results to differ, possibly materially, from those indicated in the forward-looking statements include, among others, those discussed under “Risk Factors” in our most recent SEC filed quarterly or annual report.

Any or all of management’s forward-looking statements here or in other publications may turn out to be incorrect and are based on management’s current belief or opinions. Ambac Financial Group’s (“AFG”) and its subsidiaries’ (collectively, “Ambac” or the “Company”) actual results may vary materially, and there are no guarantees about the performance of Ambac’s securities. Among events, risks, uncertainties or factors that could cause actual results to differ materially are: (1) the highly speculative nature of AFG’s common stock and volatility in the price of AFG’s common stock; (2) uncertainty concerning the Company’s ability to achieve value for holders of its securities, whether from Ambac Assurance Corporation (“AAC”) and its subsidiaries or from the specialty property and casualty program insurance business, the distribution business, or related businesses; (3) the inability of AAC to realize the expected recoveries, including RMBS litigation recoveries, included in its financial statements, or changes in estimated RMBS litigation recoveries over time; (4) failure to recover claims paid on Puerto Rico exposures or realization of losses in amounts higher than expected; (5) inadequacy of reserves established for losses and loss expenses and possibility that changes in loss reserves may result in further volatility of earnings or financial results; (6) potential for rehabilitation proceedings or other regulatory intervention against AAC; (7) credit risk throughout Ambac’s business, including but not limited to credit risk related to insured residential mortgage-backed securities, student loan and other asset securitizations, public finance obligations (including risks associated with Chapter 9 and other restructuring proceedings), issuers of securities in our investment portfolios, and exposures to reinsurers; (8) our inability to effectively reduce insured financial guarantee exposures or achieve recoveries or investment objectives; (9) our inability to generate the significant amount of cash needed to service our debt and financial obligations, including through litigation recoveries or disposition of assets, and our inability to refinance our indebtedness; (10) Ambac’s substantial indebtedness could adversely affect its financial condition and operating flexibility; (11) Ambac may not be able to obtain financing or raise capital on acceptable terms or at all due to its substantial indebtedness and financial condition; (12) the impact of catastrophic public health, environmental or natural events, including events like the COVID-19 pandemic, or global or regional conflicts, on significant portions of our insured portfolio; (13) credit risks related to large single risks, risk concentrations and correlated risks; (14) risks associated with adverse selection as Ambac’s financial guarantee insurance portfolio runs off; (15) the risk that Ambac’s risk management policies and practices do not anticipate certain risks and/or the magnitude of potential for loss; (16) restrictive covenants in agreements and instruments that impair Ambac’s ability to pursue or achieve its business strategies; (17) adverse effects on operating results or the Company’s financial position resulting from measures taken to reduce financial guarantee risks in its insured portfolio; (18) disagreements or disputes with Ambac’s insurance regulators; (19) loss of control rights in transactions for which we provide financial guarantee insurance; (20) adverse tax consequences or other costs resulting from the characterization of the AAC’s surplus notes or other obligations as equity; (21) risks attendant to the change in composition of securities in the Ambac’s investment portfolio; (22) adverse impacts from changes in prevailing interest rates; (23) events or circumstances that result in the impairment of our intangible assets and/or goodwill that was recorded in connection with Ambac’s acquisition of 80% of the membership interests of Xchange Benefits, LLC; (24) risks associated with the expected discontinuance of the London Inter-Bank Offered Rate; (25) factors that may negatively influence the amount of installment premiums paid to Ambac; (26) risks relating to determinations of amounts of impairments taken on investments; (27) the risk of litigation and regulatory inquiries or investigations, and the risk of adverse outcomes in connection therewith; (28) actions of stakeholders whose interests are not aligned with broader interests of Ambac’s stockholders; (29) system security risks, data protection breaches and cyber attacks; (30) regulatory oversight of Ambac Assurance UK Limited (“Ambac UK”) and applicable regulatory restrictions may adversely affect our ability to realize value from Ambac UK or the amount of value we ultimately realize; (31) failures in services or products provided by third parties; (32) our inability to attract and retain qualified executives, senior managers and other employees, or the loss of such personnel; (33) fluctuations in foreign currency exchange rates; (34) failure to realize our business expansion plans or failure of such plans to create value; (35) greater competition for our specialty property & casualty program insurance business; (36) loss or lowering of the AM Best rating for our property and casualty insurance company subsidiaries; (37) disintermediation within the insurance industry or greater competition that negatively impacts our managing general agency/underwriting business; (38) changes in law or in the functioning of the healthcare market that impair the business model of our accident and health managing general underwriter; and (39) other risks and uncertainties that have not been identified at this time.

Contacts

Investors:

Charles J. Sebaski

Managing Director, Investor Relations

(212) 208-3177

csebaski@ambac.com

Media:

Kate Smith

Director, Corporate Communications

(212) 208-3452

ksmith@ambac.com

Tailwind Acquisition Corp. Transfers Listing to NYSE American LLC

Tailwind Acquisition Corp. Transfers Listing to NYSE American LLC




Tailwind Acquisition Corp. Transfers Listing to NYSE American LLC

NEW YORK–(BUSINESS WIRE)–Tailwind Acquisition Corp. (“TWND”) (NYSE: TWND.U, TWND, TWND WS), a special purpose acquisition company, announced today that it will transfer its listing to the NYSE American LLC (“NYSE American”), where it has been approved to list. In connection with the transfer, TWND will voluntarily delist from The New York Stock Exchange. TWND’s decision to transfer to the NYSE American was motivated by several factors, including more favorable thresholds for continued listing on the NYSE American. Following the transfer, TWND intends to continue to file the same types of periodic reports and other information it currently files with the Securities and Exchange Commission (the “SEC”). TWND anticipates the transfer to the NYSE American to occur on or about October 12, 2022.

Caution Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended, including certain financial forecasts and projections. All statements other than statements of historical fact contained in this press release, including statements as to the listing of TWND and the filing of periodic reports and other information, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by TWND and its management, and Nuburu, Inc. (“NUBURU”) and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the business combination agreement with respect to the business combination; (2) the outcome of any legal proceedings that may be instituted against NUBURU, TWND, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; (3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of TWND or the stockholders of NUBURU, or to satisfy other closing conditions of the business combination; (4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; (5) the ability to meet the listing standards of NYSE American or another securities exchange following the consummation of the business combination; (6) the risk that the business combination disrupts current plans and operations of NUBURU as a result of the announcement and consummation of the business combination; (7) the inability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain relationships with customers and suppliers and retain its management and key employees; (8) costs related to the business combination; (9) changes in applicable laws or regulations; (10) the possibility that NUBURU or the combined company may be adversely affected by other economic, business and/or competitive factors; (11) the inability to obtain financing from Lincoln Park Capital; (12) the risk that the business combination may not be completed in a timely manner or at all, which may adversely affect the price of TWND’s securities; (13) the risk that the transaction may not be completed by TWND’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by TWND; (14) the impact of the COVID-19 pandemic, including any mutations or variants thereof, and its effect on business and financial conditions; (15) volatility in the markets caused by geopolitical and economic factors; and (16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in TWND’s Form S-1 (File No. 333-248113), Quarterly Report on Form 10-Q for the period ended June 30, 2022 and registration statement on Form S-4 (File No. 333-267403) that TWND filed with the SEC on September 13, 2022, which includes a document that will serve as a prospectus and proxy statement of TWND, referred to as a proxy statement/prospectus and other documents filed by TWND from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither TWND nor NUBURU gives any assurance that either TWND or NUBURU or the combined company will achieve its expected results. Neither TWND nor NUBURU undertakes any duty to update these forward-looking statements, except as otherwise required by law.

Important Information and Where to Find It

This press release relates to a proposed transaction between TWND and NUBURU. TWND filed a registration statement on Form S-4 with the SEC on September 13, 2022, which includes a document that will serve as a prospectus and proxy statement of TWND (the “Business Combination Proxy Statement”). The Business Combination Proxy Statement will be sent to all TWND stockholders. TWND also will file other documents regarding the proposed transaction with the SEC.

Before making any voting decision, investors and security holders of TWND are urged to read the registration statement, the Business Combination Proxy Statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transaction as they become available because they will contain important information about the proposed transaction.

Investors and security holders will be able to obtain free copies of the registration statement, the Business Combination Proxy Statement and all other relevant documents filed or that will be filed with the SEC by TWND through the website maintained by the SEC at www.sec.gov. The documents filed by TWND with the SEC also may be obtained free of charge upon written request Tailwind Acquisition Corp., 1545 Courtney Avenue, Los Angeles, CA 90046.

NEITHER THE SEC NOR ANY STATE SECURITIES REGULATORY AGENCY HAS APPROVED OR DISAPPROVED THE TRANSACTIONS DESCRIBED IN THIS PRESS RELEASE, PASSED UPON THE MERITS OR FAIRNESS OF THE BUSINESS COMBINATION OR RELATED TRANSACTIONS OR PASSED UPON THE ADEQUACY OR ACCURACY OF THE DISCLOSURE IN THIS PRESS RELEASE. ANY REPRESENTATION TO THE CONTRARY CONSTITUTES A CRIMINAL OFFENSE.

Learn more at https://twnd.tailwindacquisition.com/.

Participants in Solicitation

TWND and NUBURU and their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from TWND’s stockholders in connection with the proposed transactions. TWND’s stockholders and other interested persons may obtain, without charge, more detailed information regarding the directors and executive officers of TWND listed in TWND’s registration statement on Form S-4, which is expected to be filed by TWND with the SEC in connection with the business combination. Information regarding the persons who may, under SEC rules, be deemed participants in the solicitation of proxies to TWND’s stockholders in connection with the proposed business combination will be set forth in the proxy statement/prospectus on Form S-4 for the proposed business combination, which is expected to be filed by TWND with the SEC in connection with the business combination.

No Offer or Solicitation

This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to buy, sell or solicit any securities or any proxy, vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be deemed to be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act.

Contacts

Tailwind Acquisition Corp. – Media Inquiries
Sara Zick

Moxie Communications

tailwind@moxiegrouppr.com

World-Renowned Creator Tommy Lee Edwards Launches Exordium, a Grand Sci-Fi Thriller Comic Series Introducing Atmos

World-Renowned Creator Tommy Lee Edwards Launches Exordium, a Grand Sci-Fi Thriller Comic Series Introducing Atmos




World-Renowned Creator Tommy Lee Edwards Launches Exordium, a Grand Sci-Fi Thriller Comic Series Introducing Atmos

Tommy Lee Edwards joins Dylan Bushnell and Atmos Labs to tell an epic sci-fi racing story in this new comic book series

LOS ANGELES–(BUSINESS WIRE)–Atmos Labs, a studio creating immersive entertainment experiences in the metaverse, today launches Atmos: Exordium, a nine-chapter comic book series that tells the thrilling story of rookie pilot Addy Aker’s inaugural ExoGP Season — a racing league in the far-off world of Atmos.


Stumbling into the ranks of Atmos’ legendary ExoGP racing league, Addy finds herself pitted against the most tenacious and talented pilots in the galaxy. Racing head-to-head on deadly tracks that defy imagination, it will take more than Addy’s lethal training and indoctrinated aggression to get her across the finish line first…if she survives at all.

Exordium is led by Creative Director Tommy Lee Edwards, one of the most respected and versatile creators working today. He has illustrated comics like Mother Panic, Turf, Grendel Kentucky, Jupiter’s Legacy, and Marvel 1985. He has collaborated with the Hughes Brothers as the concept artist on their Denzel Washington epic The Book of Eli, and has also contributed to the production and promotion of movies like Harry Potter, Star Wars, and Batman Begins.

Exordium is co-created by Dylan Bushnell, serial creative entrepreneur and son of Atari founder Nolan Bushnell. Dylan rose to prominence as a co-founder of Polycade, and has worked with X2 Games, Virsix Games, and Two Bit Circus to bring immersive storytelling to life.

Other prominent creators working on the project include artist Andrea Cucchi (The Other History of the DC Universe), lead-writer Rob McEveety (The Devil Has a Name), and colorist Giovanna Niro (Jupiter’s Legacy), with lettering by John Workman (Thor).

“This project was too exciting for me to pass up. In my 25+ year career, Atmos is the very first project I’ve ever worked on where I’m all in,” said Tommy Lee Edwards. “Building an entirely new world across new technology and new styles of collaboration required a new approach to creative worldbuilding. What you’ll see in the comic comes from that process, with all our artists working together to bring the vision of Atmos to life, not just here but in a way that lays the foundation for a broader creative universe.”

Exordium is an epic racing story and the first canon narrative in the Atmos Universe,” said Dylan Bushnell. “This series is called Exordium because it’s the world’s introduction to the hostile planet of Atmos. Set 500 years in the future and 192 light years away, the series follows a season of ExoGP — the competitive flight-based racing league on Atmos — through the experiences of a few of its competitors.”

Exordium is the bedrock of the narrative journey for Atmos, acting as the nexus for Atmos Labs’ current and future products. Tommy and Dylan are the perfect pairing to lead this project, and we are beyond excited to share their thrilling vision with the world,” said Atmos Labs CEO Kevin Beauregard.

The Digital Collectible edition of Chapter One will be available on the Atmos website starting on October 7th, and features three covers:

  • Main Cover with artwork by Tommy Lee Edwards
  • Rare Variant Cover 1 with artwork by Peach Momoko (Buffy the Vampire Slayer, Power Rangers, Marvel Comics’ variant covers)
  • Rare Variant Cover 2 with artwork by Dave Johnson (Detective Comics, DC/Vertigo’s 100 Bullets)

The standard digital edition is available for pre-order now and will be released on October 17th on digital reader platforms, including Amazon, with a planned graphic novel print release by the end of the year.

About Atmos Labs

Atmos Labs is a new studio, founded to produce immersive entertainment experiences that bring together fans, players and a growing community around a wholly unique science fiction universe. For Atmos Labs, everything stems from the creation of this ever-evolving, fictional universe of Atmos; it’s what drives the team endeavors. Atmos Labs’ current partners include Animoca Brands, Bloq, Collab+Currency, Sfermion, Alumni Ventures, and more.

The Atmos team’s current projects include: Exordium, a 9-part comic series that introduces the world and creative universe of Atmos to fans and upon which all future entertainment experiences from Atmos Labs will build; ExoGP, a AAA skill-based racing video game that takes the spirit of F1 racing and pairs it with fully 3D flight mechanics and a rewarding resource-based economy; and Collections, a series of unique apparel and merchandise, digital and physical collectibles, and in-person experiences to further fans’ ability to connect and express their passion for Atmos.

For more information, visit atmos.xyz or join us on Medium, Discord, Twitter, Reddit, or Telegram.

Contacts

media@atmoslabs.io

Getvisibility Ramps up Global Expansion as It Opens New San Francisco Office

Getvisibility Ramps up Global Expansion as It Opens New San Francisco Office




Getvisibility Ramps up Global Expansion as It Opens New San Francisco Office

– The new facility adds to the company’s presence in Ireland and the UK


– US operations will be led by recently appointed Chief Operating Officer, Jacinta Tobin

– Getvisibility is also planning to further expand its team in the US and EMEA

– This expansion will drive international business growth for Irish organization

SAN FRANCISCO–(BUSINESS WIRE)–Getvisibility – an Irish company that has developed an AI-powered platform for data discovery, classification, security and governance – is ramping up its global expansion as it announces the opening of a new San Francisco office.

Adding to the company’s existing presence in Ireland and the UK, the new facility is centrally located in the San Francisco area and operations therein will be led by recently appointed Chief Operating Officer (COO), Jacinta Tobin.

Getvisibility has already built a strong customer base in the US by securing major contracts with large enterprises across highly regulated industries such as finance, defense, pharma, biotech, automotive and manufacturing.

To support these customers and enable its growing global network of vendor and reseller partners, the company is also planning to further expand its teams in both the US and the Europe, Middle East and Africa region (EMEA).

Over the next 12 months, the company will be hiring Data Security Architects, Support Engineers, Data Quality Assurance Managers, Data Scientists, Software Engineers, Sales Engineers, and Project Managers at all experience levels. Open roles currently include a Senior Product Marketing Manager and a Senior Sales Engineer.

Getvisibility allows security, governance, risk and compliance teams to define protect surfaces, create concise and accurate data security and compliance reports, and automate GDPR SAR requests which require a response within one month. This approach significantly reduces the complexity of data loss prevention and the rate of false-positive alerts.

Jacinta Tobin, COO of Getvisibility, commented: “When you consider that IBM reports the average cost of a data breach in the US as being $9.44 million, action is clearly needed. To meet this growing demand in the US and across the other markets in which we operate – including Ireland and the UK – we are investing in our team, offering, and presence.

“Underpinned by the right expertise through our personnel and partnerships with industry leaders, we will be at the heart of a new era in data management and security. Not only does this help our customers to successfully manage unstructured data, it enables us to drive our own success as a business.”

Killian McMahon, Head of US West Coast at Enterprise Ireland, added: “Enterprise Ireland is delighted to see Getvisibility further expand its presence with a US office. Getvisibility’s advanced AI solution for data security and compliance is uniquely suited to meet the requirements of US businesses. Enterprise Ireland is proud to support the company’s growth in the region.”

-Ends-

About Getvisibility

Getvisibility was founded by Mark Brosnan and Ronan Murphy. It also works with several Fortune 500 companies and governments across Europe and the US. Getvisibility has raised over €13 million to date, including a successful €10 million Series A funding round in March 2022. The funding has been primarily used to grow the Getvisibility workforce by 400% in the past 18 months, including the recruitment of an expert team of engineers and data scientists.

Contacts

Media Contact:
Rebecca Hughes, Comit PR Agency
+353858222055

rebecca@comit.ie

ECI Software Solutions Acquires ES Tech Group, Expands its B2B eCommerce Solutions Portfolio

ECI Software Solutions Acquires ES Tech Group, Expands its B2B eCommerce Solutions Portfolio




ECI Software Solutions Acquires ES Tech Group, Expands its B2B eCommerce Solutions Portfolio

FORT WORTH, Texas–(BUSINESS WIRE)–ECI Software Solutions, a leader in cloud-based business management solutions, today announced that it has completed the acquisition of ES Tech Group, a U.K.-based B2B eCommerce software and services company serving small and medium-sized enterprise (SME) manufacturers, distributors and wholesalers. This acquisition expands ECI’s existing eCommerce portfolio and furthers ECI’s investments in the digital economy and eCommerce allowing ECI to expand into markets not served today. Terms of the deal were not disclosed.

ES Tech Group has developed a world-class eCommerce platform for markets including industrial, business supplies, electrical, plumbing, gas and welding, medical supplies, and more. In addition, the company operates a growth agency that specializes in marketing and catalog development to help businesses capitalize on traditional and digital sales channels. ES Tech’s products will join ECI’s growing suite of business applications that can be integrated across its vertically based solutions.

“Every industry we serve needs an eCommerce strategy to meet customer expectations and support growth,” said Trevor Gruenewald, CEO of ECI. “Offering our collective customers the ability to run a superior online presence while driving data-driven decisions through their back-end ERP solution strengthens ECI’s position as a one-stop-shop for all business management needs. We look forward to welcoming Paddy and his team to the ECI family and working together to grow our business applications suite.”

“At ES Tech Group, our mission is to provide SME businesses with world-class technology and services, allowing them to protect their businesses and compete head-on, and win, against the biggest competitors – a similar mission to that of ECI’s,” said Paddy Donnelly, CEO of ES Tech Group. “We have the team, the technology, and now the firepower of ECI behind us. We see limitless opportunities for our customers and our team.”

To learn more about ECI’s complete suite of solutions, visit www.ECISolutions.com.

About ECI

ECI Software Solutions provides industry-specific business software solutions and services, focusing on cloud-based technologies. For 30+ years, ECI has served small to medium-sized manufacturing, wholesale/retail distribution, building and construction, and field service organizations. Privately held, ECI is headquartered in Fort Worth, Texas, USA, with offices throughout the U.S., Canada, Mexico, England, the Netherlands, and Australia. For information, email info@ecisolutions.com, visit www.ECISolutions.com or call (800) 959-3367.

All trademarks are the property of their respective owners.

Contacts

Wendi Sabo, Director of Marketing Communications and Brand

866-374-3221

wsabo@ecisolutions.com

Slate Asset Management Provides Fleet Financing to Move About Group AB to Support Rollout of Electric Vehicles and Charging Infrastructure Across Europe

Slate Asset Management Provides Fleet Financing to Move About Group AB to Support Rollout of Electric Vehicles and Charging Infrastructure Across Europe




Slate Asset Management Provides Fleet Financing to Move About Group AB to Support Rollout of Electric Vehicles and Charging Infrastructure Across Europe

LONDON–(BUSINESS WIRE)–Slate Asset Management (“Slate”), a global alternative investment platform targeting real assets, today announced that it has agreed to provide financing to Move About Group AB (“Move About”), a Swedish electric mobility service, to support the roll out of more than 150 electric vehicles and electric vehicle charging infrastructure throughout Europe. The car funding provided by Slate will be used to bolster Move About’s electric car fleet, which currently owns and operates over 800 electric cars and has more than 71,000 users on its platform.

Move About is a Sweden-based electric mobility service that delivers environmentally friendly and cost-effective mobility solutions to over 300 locations across Sweden, Norway, and Germany. Move About has partnered with some of the largest companies across Europe to save tons of carbon dioxide emissions every year. Since it was founded in 2007, Move About has become the largest provider of emission-free carsharing in the Nordic region.

Christian Schmid, Managing Director, Global Head of Infrastructure at Slate, said, “We are very pleased to partner with Move About to help broaden access to sustainable and cost-effective mobility solutions across Europe. This is an area where we see immense opportunity and exciting potential for growth as demand for more sustainable mobility solutions continues to accelerate globally. Together with Move About and our other mobility partners, we can contribute to making this technology more accessible while driving significant reductions in urban carbon emissions.”

« For us, this complement to our traditional car lease arrangements is proof that institutional capital is eager to be part of the important transition to a fossil-free society,” said Olof Jonasson, CEO of Move About. “We are of course very pleased that Slate, a leading investor and real asset manager with deep knowledge of sustainable infrastructure, shares our view on the potential of shared fossil-free mobility. »

Slate is an active investor in sustainable assets and technologies that advance the global energy transition and enable cities and communities to reach their carbon emission reduction goals. Last month, Slate announced a strategic partnership with Roswall Development Inc., a fully integrated Canadian renewable energy company in Halifax, Nova Scotia, through the acquisition of a significant minority stake in the company. Slate is also a majority stakeholder in amperio GmbH, a specialist planner and operator of electric vehicle charging infrastructure in Germany.

About Slate Asset Management

Slate Asset Management is a global alternative investment platform targeting real assets. We focus on fundamentals with the objective of creating long-term value for our investors and partners. Slate’s platform has a range of real estate and infrastructure investment strategies, including opportunistic, value add, core plus and debt investments. We are supported by exceptional people and flexible capital, which enable us to originate and execute on a wide range of compelling investment opportunities. Visit slateam.com to learn more.

About Move About Group AB

Move About offers app-based, environmentally friendly and cost-effective mobility solutions to individuals as well as companies, municipalities and organizations. The company has developed and owns all intellectual property rights to its cloud-based greentech platform that provides digital access to electric cars, electric bicycles, taxis, subways and parking via one and the same app – around the clock. Every kilometer that the user travels with the electric cars through the platform, CO2 reduces emissions. The Company’s comprehensive mobility solution is based on the Move About app, which gives the user access to the Company’s pools of electric cars, electric bicycles and electric scooters. Move About also helps companies, municipalities and organizations optimize their vehicle fleets by tailoring mobility solutions as needed. Move About was founded in Oslo, Norway in 2007 and today has over 71,000 users on its platform and over 800 electric cars in its vehicle fleet with a presence in Sweden, Norway and Germany. Visit Moveaboutgroup.com to learn more.

Contacts

Media
Slate Asset Management

Karolina Kmiecik

karolina@slateam.com

Move About Group AB

Olof Jonasson

olof.jonasson@moveaboutgroup.com

Carvana to Report Third Quarter and Host Quarterly Conference Call on November 3

Carvana to Report Third Quarter and Host Quarterly Conference Call on November 3




Carvana to Report Third Quarter and Host Quarterly Conference Call on November 3

PHOENIX–(BUSINESS WIRE)–Carvana Co. (NYSE: CVNA), the leading e-commerce platform for buying and selling used cars, today announced it will report its third quarter financial results for the period ended September 30, 2022, following the close of market on Thursday, November 3, 2022. On that day, management will hold a conference call and webcast at 5:30 p.m. ET (2:30 p.m. PT) to review and discuss the company’s business and results.

What:

Carvana Third Quarter Financial Results Conference Call

When:

Thursday, November 3, 2022

Time:

5:30 p.m. ET (2:30 p.m. PT)

Live Call:

(833) 255-2830 or (412) 902-6715

An archived webcast of the conference call will be accessible from the Investor Relations section of the company’s website, https://investors.carvana.com/. A telephonic replay of the conference call will be available until Thursday, November 10, 2022, by dialing (877) 344-7529 or (412) 317-0088 and entering passcode 8157634#.

About Carvana (NYSE: CVNA)

Founded in 2012 and based in Phoenix, Carvana’s (NYSE: CVNA) mission is to change the way people buy and sell cars. With a continued focus on its customers, technology and innovation, Carvana offers an intuitive and convenient online car buying, selling, and financing experience. Carvana.com enables customers to quickly and easily shop more than 75,000 vehicles, finance, trade in or sell their current vehicle to Carvana, sign contracts and schedule delivery or pickup at one of its patented, automated Car Vending Machines. Carvana is a Fortune 500 company, providing as-soon-as-next-day delivery to customers in over 300 U.S. markets.

For further information on Carvana, please visit www.carvana.com, or connect with us on Facebook, Instagram, Twitter, YouTube or the Carvana Blog.

Contacts

Investor Relations:
Carvana

Mike Levin

investors@carvana.com
or

Media Contact:
Carvana

Kristin Thwaites

press@carvana.com

Optimizely Introduces Unlimited Potential for Digital Leaders at Opticon 2022

Optimizely Introduces Unlimited Potential for Digital Leaders at Opticon 2022




Optimizely Introduces Unlimited Potential for Digital Leaders at Opticon 2022

Nearly 900 attendees and over 300 customers attend event celebrating Boundless Digital Invention

SAN DIEGO–(BUSINESS WIRE)–Optimizely, the leading digital experience platform (DXP) provider enabling Boundless Digital Invention, has wrapped its annual Opticon event. Opticon brought together and connected leaders of technology, media, business, and brands for conversations on the rapid evolutions and innovations shaping marketing and the future of digital experiences.

Optimizely welcomed nearly 900 attendees from industry-leading brands, as well as customers, media, analysts, and more across 45 sessions during the three-day event focused on future-forward solutions to the industry’s most complex challenges and “enemies” of every digital leader: complexity to get things done, uncertainty about what works, and inertia caused by siloed and non-actionable data. Additional highlights from this year’s event, include:

The Future is Boundless: In his keynote session, Alex Atzberger, Chief Executive Officer at Optimizely, outlined the complexities holding brands back from achieving outcomes and introduced Boundless Digital Invention, a new way for digital leaders to improve outcomes such as increased revenue, lower TCO, and decreased customer acquisition costs.

“At Optimizely, we unleash brand potential as the world’s only DXP designed to help reinvent how marketing works. With Boundless Digital Invention, marketers can orchestrate, monetize, and experiment at every point,” Atzberger said during the session. “By removing complexities and barriers, brands can drive business success with boundless possibilities and infinite outcomes.”

The Road to Revolutionary Experiences: Chief Product Officer Justin Anovick previewed Optimizely’s upcoming product roadmap, exploring what’s possible in the digital landscape and how Optimizely delivers value to customers through its Orchestrate, Monetize, and Experiment solutions, encompassing ideation, development, engagement, testing, learning, and beyond.

“For Optimizely, DXP is all about being better together – so that every team is unlimited in what they can accomplish,” Anovick said during his keynote. “Having acquired five companies over the past few years, it’s one-dimensional to view our recent work simply as ‘the whole is better than the sum of its parts.’ Because we understand that it’s not just about the totality of our different capabilities – it’s also about what each individual component brings to the table.”

During Opticon, Optimizely announced its new Orchestrate solution, combining its three best-in-class products – Content Marketing (CMP), Content Management (CMS), and Digital Asset Management (DAM) – into a comprehensive offering. Orchestrate transforms how marketing teams work, enabling them to manage the entire content lifecycle and deliver better digital experiences. Optimizely also released Real-Time Segmentation, a first-of-its kind offering that allows marketers to segment customers in the moment of engagement to deliver highly relevant, personalized digital experiences. The solution integrates across all products and leverages “fresh data” to reflect the true state of an audience, eliminating data refresh intervals that can delay customer insights.

Reinventing How Marketing Works: Optimizely Chief Marketing Officer Kirsten Allegri Williams explored how the demands of the marketing landscape and technology have transformed marketers themselves, including the creation of the digital execution gap between what customers expect and what we can deliver.

“Marketers and product leaders have become part of the same digital team, partnering together to create better channel strategy, better design and content decisions, and deeper user engagement right within the product,” Allegri Williams said in the keynote. “To close the digital execution gap, we need to reinvent how marketers work. Along with all other core functions, like HR, Finance, and IT, marketing deserves its own system of record. With the new evolution of Optimizely, we finally have it.”

“We all know martech has become too complex,” said Lorenz Gan, Chief Digital Officer and CIO of New Era Cap LLC. “The customer experience is too important to be left to a patchwork of disconnected systems. That’s why I am grateful for the unified vision that Optimizely has built.”

Recordings of the Day One and Day Two keynotes are now available.

Learn more about our upcoming Opticon Tour events taking place in London on Friday, Nov. 4, and Stockholm on Tuesday, Nov. 8.

About Optimizely

At Optimizely, we’re on a mission to help people unlock their digital potential. With our leading digital experience platform (DXP), we equip teams with the tools and insights they need to create and optimize in new and novel ways. Through Boundless Digital Invention, we’re reinventing marketing and allowing marketers to innovate without limits through confident content creation, inclusive collaboration and customer foresight. Now, companies can operate with data-driven confidence to create hyper-personalized experiences. Building sophisticated solutions has never been simpler. Optimizely’s 900+ partners and 1100+ employees in offices around the globe are proud to help more than 9,000 brands, including Toyota, Santander, eBay, KLM and Mazda, enrich their customer lifetime value, increase revenue and grow their brands. Learn more at optimizely.com.

All third-party trademarks cited are the property of their respective owners, and are used only for reference purposes.

Contacts

Media Contacts:

Rachel Teitt Gill

Sr. Director, Global Communications

+1 740-815-1588

Rachel.teittgill@optimizely.com

Victoria Johnson

Sr. Manager, Global Communications

Victoria.Johnson@optimizely.com

Kally Lavoie

PAN Communications

optimizely@pancomm.com

Veracode lance une solution de sécurité des conteneurs pour sécuriser le développement d’applications natives du cloud

Veracode lance une solution de sécurité des conteneurs pour sécuriser le développement d’applications natives du cloud




Veracode lance une solution de sécurité des conteneurs pour sécuriser le développement d’applications natives du cloud

Un programme d’accès exclusif au nouveau produit propose une solution conviviale intégrant la sécurité des conteneurs dans le cycle de vie du développement logiciel

BURLINGTON, Massachusetts–(BUSINESS WIRE)–Veracode, chef de file mondial en matière de tests de sécurité des applications, annonce aujourd’hui le développement de sa plateforme de sécurité logicielle continue, qui inclut désormais la sécurité des conteneurs. Un programme d’accès en primeur à Veracode Container Security est désormais disponible pour les clients existants. La nouvelle solution Veracode Container Security, conçue spécialement pour satisfaire aux exigences des équipes d’ingénierie logicielle native du cloud, répond aux besoins d’analyse des vulnérabilités, de configuration sécurisée et de gestion des secrets pour les images de conteneurs.

Brian Roche, Chief Product Officer de Veracode, a déclaré : « Alors que les développeurs optent pour une informatique native du cloud, les conteneurs sont de plus en plus importants pour assurer l’efficacité des entreprises. Ce lancement vient combler une lacune importante sur le marché des solutions orientées développeurs qui intègrent des fonctionnalités essentielles pour la sécurité des conteneurs. Nous sommes ravis de proposer au marché cette nouvelle amélioration de notre plateforme et d’offrir aux clients la possibilité de procéder à des tests de sécurité pour des architectures et des styles de déploiement plus modernes. »

Une demande de sécurité des conteneurs sans cesse croissante

Le recours aux conteneurs se généralise pour simplifier le déploiement des logiciels et la gestion de la configuration de l’environnement d’exécution. Ils se composent d’unités logicielles petites, rapides et portables au sein desquelles le code est intégré afin qu’une application puisse être exécutée rapidement et de manière fiable dans divers environnements informatiques, du poste de travail au cloud. Ils constituent un écosystème de référentiels, de technologies d’orchestration et de capacités permettant de résoudre des problèmes connexes, tels que la communication entre services et la gestion de la configuration. Les conteneurs, instanciés dans des pipelines à partir du code, bénéficient de l’immuabilité, et ne sont donc pas mis à jour, reconfigurés ou corrigés en production. En revanche, l’image sous-jacente est mise à jour et dotée de nouvelles fonctionnalités, avant d’être redéployée, contribuant ainsi à améliorer l’efficacité de l’environnement de production.

Bien que les conteneurs présentent de nombreux avantages, ils connaissent les mêmes problèmes que ceux habituellement rencontrés avec le matériel de production physique ou les serveurs virtuels, comme les vulnérabilités introduites par des logiciels supplémentaires, les secrets mal gérés (comme les clés et les informations d’identification d’Amazon Web Services dans les Dockerfiles) ou encore les erreurs de configuration de la sécurité. Ce phénomène explique la demande croissante de produits permettant de résoudre ces problèmes et les problèmes connexes, et la taille du marché mondial de la sécurité des conteneurs devrait atteindre 3,9 milliards de dollars d’ici 2027*. Le balayage de la sécurité des conteneurs compare les images de conteneurs à des normes organisationnelles ou sectorielles en vue d’identifier les processus non sécurisés, les configurations erronées risquant d’entraîner une vulnérabilité, ainsi que l’authentification et le contrôle d’accès inadéquats.

La sécurité des conteneurs de Veracode fait partie intégrante de l’environnement du développeur

De nombreux produits disponibles sur le marché visent à sécuriser les conteneurs en cours d’exécution et ne proposent qu’un soutien limité aux développeurs, posant ainsi un problème majeur de remédiation précoce. A contrario, la solution de Veracode s’intègre au pipeline CI/CD (intégration continue et livraison continue) et est disponible à l’interface de ligne de commande. Elle assure la détection et la correction des vulnérabilités, la gestion des secrets et les problèmes de configuration de la sécurité sur les systèmes d’exploitation les plus répandus. Elle propose des solutions aux développeurs dès le début du cycle de vie du logiciel, évitant ainsi que des conteneurs non sécurisés ne soient mis en production.

Les réponses de Veracode Container Security sont disponibles dans différents formats, au choix de l’utilisateur : texte, JSON (JavaScript Object Notation) et nomenclature logicielle (CycloneDX, SWID [Software Identification Tagging] ou SPDX [Software Packaging Data Exchange]), permettant ainsi de les intégrer aisément à d’autres outils. En fournissant aux développeurs et à leurs équipes les outils répondant à leurs propres besoins, ils sont en mesure de détecter et de corriger les vulnérabilités au début du cycle de vie, garantissant ainsi la sécurité de leur environnement d’applications en conteneurs.

« Veracode Container Security permettra à nos développeurs de garantir la sécurité des workloads déployés dans notre cloud », a déclaré le responsable de la sécurité informatique d’une entreprise automobile. « Sans un tel outil, notre équipe aurait mis des semaines avant de recevoir et d’agir sur les résultats des conteneurs et ceux-ci n’auraient été disponibles que dans des formats limités. Nous sommes ravis de pouvoir désormais intégrer les résultats dans le pipeline avant même qu’ils ne passent en production, générant ainsi des gains de temps et d’argent pour notre entreprise. »

Pour en savoir plus sur la sécurité des conteneurs, cliquez ici.

*Research and Markets, « Global Container Security Market Size, Share & Industry Trends Analysis Report By Component (Products and Services), By Services Type, By Organization Size, By Vertical, By Regional Outlook and Forecast, 2021-2027 », février 2022.

À propos de Veracode

Veracode est un partenaire AppSec de référence pour la conception de logiciels sécurisés, la réduction des risques de violation de la sécurité et l’augmentation de la productivité des équipes de sécurité et de développement. Ainsi, les entreprises qui ont recours à Veracode sont en mesure de faire progresser leur activité et le monde. En combinant l’automatisation des processus, les intégrations, la vitesse et la réactivité, Veracode offre aux entreprises des résultats précis et fiables qui leur permettent de concentrer leurs efforts sur la correction, et pas seulement sur la recherche, des éventuelles vulnérabilités. Pour en savoir plus, rendez-vous sur www.veracode.com, sur le blog de Veracode et sur Twitter.

Copyright © 2022 Veracode, Inc. Tous droits réservés. Veracode est une marque déposée de Veracode, Inc. aux États-Unis et peut être enregistré dans d’autres juridictions. Tous les autres noms de produits, marques et logos appartiennent à leurs propriétaires respectifs. Toutes les autres marques commerciales citées dans ce communiqué sont la propriété de leurs détenteurs respectifs.

Le texte du communiqué issu d’une traduction ne doit d’aucune manière être considéré comme officiel. La seule version du communiqué qui fasse foi est celle du communiqué dans sa langue d’origine. La traduction devra toujours être confrontée au texte source, qui fera jurisprudence.

Contacts

Katy Gwilliam

kgwilliam@veracode.com

CI&T Wins 2022 Acquia Engage Award for its Work with UNICEF

CI&T Wins 2022 Acquia Engage Award for its Work with UNICEF




CI&T Wins 2022 Acquia Engage Award for its Work with UNICEF

Awards recognize exceptional digital experiences developed in a time of continuous change

NEW YORK–(BUSINESS WIRE)–CI&T (NYSE:CINT), a leader in driving digital transformation for global brands, today announced it was selected as the winner of the 2022 Acquia Engage Award for “Building a Better a Tomorrow” for their work with UNICEF. The Award honors organizations that bring together marketers and technologists to imagine, build, and deliver the most ambitious digital experiences using the Acquia Open Digital Experience Platform (DXP).

“We are honored to be recognized by Acquia for our work with UNICEF and 1MiO,” said Luiz Cieslak, VP, Digital Solutions at CI&T. “This was not an ordinary project, but an initiative to create a digital platform to directly impact the lives of millions of young Brazilians with an ambitious goal of generating one million jobs and learning opportunities. Leveraging the tools Drupal 9 offers, we not only created a powerful technical solution, but also fostered a connection point between young people, companies, public authorities and NGOs.”

UNICEF’s One Million Opportunities initiative (1MiO) is focused on generating job opportunities for young Brazilians in vulnerable situations. 1MiO partnered with CI&T on a complete redesign of its platform built on Drupal 9. New features sought to address the obstacles to reaching the most vulnerable, such as offline resources, thinking about the distribution of opportunities in social organizations, school systems, and guardianship councils, among others.

In addition to winning the “Building a Better Tomorrow” award in the Dreamers category, CI&T was also recognized as a finalist in the Doers category for the “Leader of Pack Financial Services” award for their work with First Hawaiian Bank.

About CI&T

CI&T (NYSE:CINT) is a global digital specialist, a partner in digital transformation for 100+ large enterprises and fast growth clients. As digital natives, CI&T brings a 27-year track record of accelerating business impact through complete and scalable digital solutions. With a global presence in nine countries with a nearshore delivery model, CI&T provides strategy, data science, design, and engineering, unlocking top-line growth, improving customer experience and driving operational efficiency. Recognized by Forrester as a Leader in Modern Application Development Services, CI&T is the Employer of Choice for more than 6,700 professionals.

Contacts

Investor Relations Contact:

Eduardo Galvão

investors@ciandt.com

Media Relations Contact:

Zella Panossian

ciandt@illumepr.com