Category: Entertainment

  • MIL-OSI Global: Gifts from top 50 US philanthropists rebounded to $16B in 2024 − Mike Bloomberg; Reed Hastings and Patty Quillin; and Michael and Susan Dell lead the list of biggest givers

    Source: The Conversation – USA – By David Campbell, Professor of Public Administration, Binghamton University, State University of New York

    Mike Bloomberg speaks at the Global Renewables Summit in September 2024. Bryan Bedder/Getty Images for Bloomberg Philanthropies

    The 50 American individuals and couples who gave or pledged the most to charity in 2024 committed US$16.2 billion to foundations, universities, hospitals and more. That total was 33% above an inflation-adjusted $12.2 billion in 2023, according to the Chronicle of Philanthropy’s latest annual tally of these donations. Media mogul and former New York City Mayor Mike Bloomberg led the list, followed by Netflix co-founder and chairman Reed Hastings, along with his wife, Patty Quillin. Businessman Michael Dell and his wife, Susan Dell, pledged the third most in 2024.

    Neither MacKenzie Scott nor Elon Musk, both of whom announced donations large enough to land them on this list, provided enough information for the Chronicle to include them. Musk didn’t name the nonprofits to which he gave stock, and Scott declined to confirm how much money she put into the donor-advised funds through which she gives. Known as DAFs, these funds are savings accounts reserved for charitable giving.

    The Conversation U.S. asked David Campbell, Lindsey McDougle and Susan Appe, three philanthropy scholars, to assess the significance of these gifts and to consider what they indicate about the state of charitable giving in the United States.

    What trends stand out overall?

    Appe: I think it’s good to see that eBay founder Pierre Omidyar, an Iranian-American entrepreneur born in France, with his wife Pam, are among the top 12 donors. Omidyar is the only foreign-born philanthropist on this list who reported giving to democracy promotion in the U.S. through his Democracy Fund. The Omidyars also funded the AI Collaborative, a group that promotes artificial intelligence governance based on democratic values, and their Omidyar Network, an organization promoting responsible technology.

    Given concerns about democratic backsliding around the world, which could arguably include President Donald Trump’s efforts to expand the executive branch’s power, I’m surprised not to see more top donors clearly funding democracy promotion.

    I study philanthropy by U.S. immigrants. They either give more or at the same rate as people born in the United States.

    Omidyar is one of seven immigrants among 2024’s top U.S. donors. The others are Herta Amir, who was born in what was then Czechoslovakia; Sergey Brin, a Russian immigrant; the Pagidipati family, which came from India; K. Lisa Yang, who was born in Singapore; Michele Kang, who immigrated from South Korea; and Joe Wen, a Taiwanese immigrant.

    In 2024, as in most years, many of these wealthy donors supported prestigious universities and large hospitals and stowed millions in their own foundations and donor-advised funds. Although it’s impossible to predict exactly what their foundations and DAFs will support in the future, history suggests that they’re unlikely to focus on addressing systemic issues such as economic inequality.

    McDougle: It doesn’t appear that any of these top 50 donors are Black or Latino. This lack of representation is undoubtedly a reflection of broader societal disparities and may influence how individuals from these groups perceive their own potential as philanthropists.

    Philanthropic capacity often correlates with wealth accumulation, and significant gaps in wealth between racial groups are likely to have a direct influence on who we see in the Philanthropy 50. Black families, for instance, possess just 15% of the wealth of white families, while Hispanic families have only about 22%. These wealth disparities likely prevent many Black and Latino Americans from having the wealth necessary to engage in large-scale philanthropy.

    This reality highlights the need for the nation’s leading philanthropists to fund initiatives that focus on addressing systemic barriers to economic equality. MacKenzie Scott has been doing this through the millions of dollars she has donated to support racial equity and economic mobility.

    Addressing these disparities also involves changing the narrative around who is considered a philanthropist. As I have argued before, underrepresented groups may not always see themselves as philanthropists, partly due to limited resources and the historical portrayal of philanthropy as the domain of the wealthy. But by redefining philanthropy to include a broader spectrum of giving, philanthropy can play a pivotal role in leveling the playing field and creating more opportunities for all.

    What surprises you about the biggest donors?

    Appe: The absence of Oracle co-founder Larry Ellison, Google co-founder Larry Page and former Microsoft CEO Steve Ballmer also stands out due to the presence of many other tech billionaires, including Mark Zuckerberg and Bill Gates, on this list.

    Campbell: In addition to Elon Musk, a South African immigrant, not making this list for the second year in a row – even though he is the richest person in the world – Jeff Bezos isn’t listed either. Few private citizens have sought to change American society more than they have – Musk most recently through his role in the so-called Department of Government Efficiency and Bezos through actions he takes as the owner of The Washington Post and the founder of Amazon, among other initiatives.

    I believe that it is worth asking why neither of these men, who rank among the wealthiest Americans, made the list this year. While Musk gave too little information to make the list, his previous giving choices raise questions about his commitment to philanthropy as a way to advance the public good. In 2022 and 2023, for example, his foundation gave away less money than required by law and supported organizations that benefit him and his interests, such as schools attended by his children.

    Bezos, by contrast, got a lot of attention in 2022 when he announced he would give away his fortune during his lifetime. Yet his giving has come in fits and starts since 2018, when he began to give away billions of dollars to support people experiencing homelessness, preschools for low-income children and efforts to fight climate change.

    Do you have concerns about the big gifts these donors provide?

    McDougle: The nonprofits receiving these large donations can end up in a precarious situation if that funding suddenly stops. When nonprofits rely too heavily on a few wealthy donors, they may be forced to make abrupt decisions like cutting crucial programs or laying off staff. Obviously, this underscores a core problem with overdependence on these types of major gifts: They can leave nonprofits in a bind and unable to sustain their operations without continued long-term support.

    This is particularly problematic if it affects a nonprofit’s ability to engage in long-term planning. As such, when focusing on the giving of the super rich, it is important to consider not just the immediate benefits of their generosity but also the potential instability it can create for the recipients if their gift is not managed strategically.

    Campbell: The total given by America’s top donors in 2024 was the sixth-highest in the past decade, after adjusting for inflation. I’d expected to see a larger amount, given that 2024 was the second straight year of stock market gains of 20% or more.

    In 2020, when the COVID-19 pandemic began, the top donors gave nearly twice as much to charity as they did this past year; and they gave close to $8 billion more than that in 2021. Why haven’t the wealthiest Americans sustained that level?

    Giant gifts to universities, museums and hospitals are surely making a meaningful difference in America and the world. But I wonder why these donors tend not to focus on the challenges facing those who have the least.

    One significant exception is the $1 billion Ruth Gottesman gave the Bronx-based Albert Einstein College of Medicine to allow the school to become tuition-free. Gottesman, a former faculty member at the school, chose to honor and support the many first-generation and low-income students trained there. Bloomberg, upping his commitment to ease the tuition burden at Johns Hopkins University, made a similar gift to the medical school at his alma mater and four medical schools at historically black colleges and universities.

    To be sure, some of these philanthropists use the foundations they or their relatives control to help meet the basic needs of Americans struggling to get by and address issues such as poverty, disease prevention and criminal justice reform. Melinda French Gates, Warren Buffett, and John and Laura Arnold all directed much of their giving in 2024 to those kinds of foundations.

    What do you expect or hope to see in 2025 and beyond?

    Appe: The Trump administration has frozen most U.S. foreign aid, endangering the lives of millions of the world’s poorest people. There are calls for the wealthiest philanthropists to help to fill this void. I hope some big donors respond with large gifts to UNICEF, the United Nations agency for children, and the WHO Foundation, which supports the World Health Organization.

    Top philanthropists have been slow to react so far. However, the MacArthur Foundation just announced plans to increase its giving over the next two years. MacArthur president John Palfrey said this is a response to what he called a “major crisis” brought on by the Trump administration’s spending cuts. I will observe whether other foundations or some of the wealthiest Americans follow suit.

    Still, philanthropy cannot fill all these gaps. The $60 billion in foreign aid cuts represent a sliver of the trillions the Trump administration wants to slice from the federal budget. If it succeeds, donors will have countless other priorities.

    Campbell: Events that took place during the first Trump administration, like the murder of George Floyd, the erosion of democratic norms and the separation of immigrant families, led philanthropists to embrace giving that addressed these issues, notably diversity, equity and inclusion initiatives. In the early days of the second Trump administration, prominent donors like Mark Zuckerberg have enthusiastically backtracked on their own DEI policies. I am now watching how other donors position themselves relative to the Trump administration’s objectives – as cheerleaders, combatants or something in between.

    The Bill & Melinda Gates Foundation and Arnold Ventures have provided funding for The Conversation U.S. in the past. The Gates foundation currently provides funding for The Conversation internationally.

    David Campbell receives grants from the Learning by Giving Foundation and the Conrad and Virginia Klee Foundation to support the experiential philanthropy course he teaches at Binghamton University. He also serves as the chair of the Klee Foundation board.

    Lindsey McDougle and Susan Appe do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    ref. Gifts from top 50 US philanthropists rebounded to $16B in 2024 − Mike Bloomberg; Reed Hastings and Patty Quillin; and Michael and Susan Dell lead the list of biggest givers – https://theconversation.com/gifts-from-top-50-us-philanthropists-rebounded-to-16b-in-2024-mike-bloomberg-reed-hastings-and-patty-quillin-and-michael-and-susan-dell-lead-the-list-of-biggest-givers-250577

    MIL OSI – Global Reports

  • MIL-OSI: Anjuna Fuels Secure AI Innovation in the Digital Payments Industry

    Source: GlobeNewswire (MIL-OSI)

    PALO ALTO, Calif., March 04, 2025 (GLOBE NEWSWIRE) — Anjuna, a leader in Universal Confidential Computing and AI Data Fusion Clean Rooms, today announced significant momentum in the digital payments industry. This announcement comes off the heels of Anjuna being selected by Gartner as a Tech Innovator in the Preemptive Cybersecurity category.

    Several market-leading financial services and fintech companies have selected Anjuna’s platform to ensure secure data collaboration, privacy, and compliance while leveraging AI to drive innovation:

    • Global Leader in Financial Services – A Fortune 500 financial institution providing trusted payment, network, and digital banking solutions. Anjuna helped the institution secure its essential cryptographic services layers for public cloud acceleration.
    • Narval – A crypto institutional connectivity layer that enables secure connection & integration between custodians and crypto protocols/applications. Narval’s stack leverages Anjuna’s Confidential Pods to ensure credentials live and operations occur within a verifiable trusted execution environment.
    • Payfinia – an independent payments company, providing community financial institutions (CFIs) access to and ownership of their instant payments services. Anjuna enables Payfinia to ensure both speed and security for its users.
    • Portal – A borderless finance infrastructure provider, enabling companies to move money anywhere in the world fast and cheaply by leveraging blockchains and stablecoins. Anjuna enables Portal to speed up the wallet creation and account setup, open up the solution to more customers, and improve the user experience for wallet recovery.
    • rootVX – A unified infrastructure for value storage and interchange based on the three pillars of tokenization, programmability and proving systems. rootVX uses Anjuna’s advanced TEE mechanism to protect its platform services that handle sensitive user data and financial transactions.

    Executives from Anjuna’s new customers emphasized the importance of implementing secure AI-driven collaboration for their operations:

    “Security and trust are foundational for institutional crypto adoption. Anjuna’s Confidential Pods enable us to provide institutions with a secure connectivity layer that protects sensitive operations and credentials while enabling safe access to vetted protocols and applications.”
    Greg Jessner, Co-Founder & CEO, Narval

    “Anjuna enables us to process and analyze financial data in a confidential environment, ensuring both speed and security for our users.”
    Nizar Jamal, Chief Technology Officer, Payfinia

    “By leveraging Anjuna to deploy secure enclaves, we have strengthened our ability to serve enterprise customers with robust treasury management and seamless stablecoin orchestration—all while adhering to the highest security standards. Secure enclaves not only enable us to meet stringent compliance requirements but also unlock new opportunities to optimize our infrastructure, enhancing both security and operational efficiency without compromising trust.”
    Parsa Attari, Co-Founder & Head of Product, Portal

    Anjuna’s AI Data Fusion Clean Room, Anjuna Northstar, and its Universal Confidential Computing Platform, Anjuna Seaglass, allow digital payment providers to:

    • Enable secure AI-driven innovation – Unlock new business opportunities by sharing insights while keeping the raw sensitive data private.
    • Ensure regulatory compliance – Maintain adherence to financial and data privacy regulations, including GDPR and PCI DSS.
    • Faster, more granular fraud detection – Protect sensitive financial data with zero-trust security.

    For more information on how Anjuna is transforming AI-driven financial collaboration, visit www.anjuna.io.

    About Anjuna
    Anjuna unlocks secure, AI-driven innovation with two groundbreaking solutions. Anjuna Seaglass, the Universal Confidential Computing Platform, delivers ubiquitous data privacy and intrinsic cloud security. Anjuna Northstar, the AI Data Fusion Clean Room, builds on Seaglass to provide an out-of-the-box, private environment for limitless AI-driven data collaboration and value discovery. Anjuna works with enterprises around the globe, including financial services, government, healthcare and SaaS. Anjuna is backed by prominent investors, including Playground Global, Insight Partners, M Ventures, and SineWave Ventures.

    Media Contact:
    Mauricio Barra, VP of Marketing for Anjuna
    Email: mauricio.barra@anjuna.io

    The MIL Network

  • MIL-OSI Economics: Apple introduces iPad Air with powerful M3 chip and new Magic Keyboard

    Source: Apple

    Headline: Apple introduces iPad Air with powerful M3 chip and new Magic Keyboard

    March 4, 2025

    PRESS RELEASE

    Apple introduces iPad Air with powerful M3 chip and new Magic Keyboard

    CUPERTINO, CALIFORNIA Apple today introduced the faster, more powerful iPad Air with the M3 chip and built for Apple Intelligence. iPad Air with M3 brings Apple’s advanced graphics architecture to iPad Air for the first time — taking its incredible combination of power-efficient performance and portability to a new level. iPad Air with M3 is nearly 2x faster compared to iPad Air with M1,1 and up to 3.5x faster than iPad Air with A14 Bionic.2 Users will feel the speed of M3 in everything they do, from creating engaging content faster than ever to playing demanding, graphics-intensive games. Available in two sizes and four gorgeous finishes that users love, the 11-inch iPad Air is super portable while on the go, and the 13-inch model provides an even larger display for more room to be creative and productive. Designed for iPad Air, the new Magic Keyboard enhances its versatility and delivers more capabilities at a lower price. With iPadOS 18, support for Apple Intelligence, advanced cameras, fast wireless 5G connectivity, and compatibility with Apple Pencil Pro and Apple Pencil (USB-C), the new iPad Air offers an unrivaled experience.

    With the same starting price of just $599 for the 11-inch model and $799 for the 13-inch model, the new iPad Air is a fantastic value. And for education, the 11-inch iPad Air starts at just $549, and the 13-inch model starts at just $749. Customers can pre-order the new iPad Air with M3 and Magic Keyboard for iPad Air starting today, with availability beginning Wednesday, March 12.

    “iPad Air is so popular because of its unmatched combination of powerful performance, portability, and support for advanced accessories, all at an affordable price,” said Bob Borchers, Apple’s vice president of Worldwide Product Marketing. “For everyone from college students taking notes with Apple Pencil Pro, to travelers and content creators who need powerful productivity on the go, iPad Air with M3, Apple Intelligence, and the new Magic Keyboard take versatility and value to the next level.”

    Supercharged Performance with M3

    iPad Air with M3 empowers users to be productive and creative wherever they are, from aspiring creatives using demanding apps and working with large files, to travelers editing content on the go. The powerful M3 chip offers a number of improvements over M1 and previous-generation models. Featuring a more powerful 8-core CPU, M3 is up to 35 percent faster for multithreaded CPU workflows than iPad Air with M1. M3 features a 9-core GPU with up to 40 percent faster graphics performance over M1. M3 also brings Apple’s advanced graphics architecture to iPad Air for the first time with support for dynamic caching, along with hardware-accelerated mesh shading and ray tracing. For graphics-intensive rendering workflows, iPad Air with M3 offers up to 4x faster performance than iPad Air with M1, enabling more accurate lighting, reflections, shadows, and extremely realistic gaming experiences.3

    The faster Neural Engine in M3 means iPad Air users can enjoy even more AI capabilities in iPadOS. Compared to M1, the Neural Engine in M3 is up to 60 percent faster for AI-based workloads. Other improvements over iPad models with A-series chips include support for Apple Intelligence, the choice of 11- and 13-inch sizes, and support for advanced accessories, including the new Magic Keyboard and Apple Pencil Pro.

    iPad Air: Built for Apple Intelligence

    iPad Air is built for Apple Intelligence, the personal intelligence system that delivers helpful and relevant intelligence.4 In Photos, the Clean Up tool makes it easy to remove distracting elements in images, and natural language search allows users to search for just about any photo or video by simply describing what they are looking for. With Image Wand in the Notes app, users can make notes more visually engaging by turning rough sketches into delightful images, just by drawing a circle around the sketch with their Apple Pencil. Users can even circle empty space within a note, and Image Wand will gather context from the surrounding area to create a relevant image that complements the note and makes it more visual.

    Apple Intelligence helps users explore creative new ways to express themselves visually with Image Playground, create the perfect emoji with Genmoji, and make their writing even more dynamic with Writing Tools. Users can now type to Siri, and Siri is more conversational with the ability to follow along if users stumble over their words. Siri can also maintain context from one request to the next, and with extensive product knowledge, Siri can answer thousands of questions about the features and settings of Apple products, so users can learn how to do things like take a screen recording.

    With ChatGPT seamlessly integrated into Writing Tools and Siri, users can tap into ChatGPT’s expertise without jumping between applications, so they can get things done faster and easier than ever before. In addition, users can access ChatGPT for free without creating an account, and privacy protections are built in — their IP addresses are obscured and OpenAI won’t store requests. Users can choose whether to enable ChatGPT integration, and are in full control of when to use it and what information is shared with ChatGPT.

    Designed to protect users’ privacy at every step, Apple Intelligence uses on-device processing, meaning that many of the models that power it run entirely on device. For requests that require access to larger models, Private Cloud Compute extends the privacy and security of iPad into the cloud to unlock even more intelligence. When using Private Cloud Compute, users’ data is never stored or shared with Apple; it is used only to fulfill their request.

    All-New Magic Keyboard for iPad Air

    The all-new Magic Keyboard for iPad Air expands what users can do at an even lower price. The larger built-in trackpad brings greater precision for detail-oriented tasks, and a new 14-key function row allows easy access to features like screen brightness and volume controls. The new Magic Keyboard attaches magnetically, and the Smart Connector immediately connects power and data without the need for Bluetooth; a machined aluminum hinge also includes a USB-C connector for charging. Now starting at just $269 for the 11-inch model and $319 for the 13-inch model, the new Magic Keyboard for iPad Air features the magical floating design customers love and comes in white.

    iPad Updated with Double the Starting Storage and the A16 Chip

    Apple today also updated iPad with double the starting storage and the A16 chip, bringing even more value to customers. The A16 chip provides a jump in performance for everyday tasks and experiences in iPadOS, while still providing all-day battery life. Compared to the previous generation, the updated iPad with A16 is nearly 30 percent faster.5 In fact, compared to iPad with A13 Bionic, users will see up to a 50 percent improvement in overall performance,5 and A16 makes the updated iPad up to 6x faster than the best-selling Android tablet.6

    Powerful and Intelligent Features with iPadOS 18

    iPadOS 18 offers powerful features that enhance the iPad experience, making it more versatile and intelligent than ever:7

    • Designed for the unique capabilities of iPad, Calculator delivers an entirely new way to use Apple Pencil to solve expressions. With Math Notes, users are now able to write out mathematical expressions or type to see them instantly solved in handwriting like their own. They can also create and use variables, and add an equation to insert a graph. Users can access their Math Notes in the Notes app and use all of the math functionality in any of their other notes.
    • In Notes, handwritten notes become more fluid and flexible. Smart Script unleashes powerful new capabilities for users editing handwritten text, allowing them to easily add space or even paste typed text in their own handwriting. And as users write with Apple Pencil, their handwriting will be automatically refined in real time to be smoother, straighter, and more legible.
    • With new Audio Recording and Transcription, iPad can capture a lecture or conversation, and transcripts are synced with the audio, so users can search for an exact moment in the recording.
    • Users now have even more options to express themselves through the Home Screen. App icons and widgets can take on a new look with a dark or tinted effect, and users can make them appear larger to create the experience that’s perfect for them. A redesigned Control Center provides easier access to many of the things users do every day, including the option to organize new controls from third-party apps.

    Better for the Environment

    The new iPad Air and updated iPad are designed with the environment in mind. As part of Apple 2030, the company’s ambitious goal to be carbon neutral across its entire carbon footprint by the end of this decade, Apple is transitioning to renewable electricity for manufacturing, and investing in wind and solar projects around the world to address the electricity used to charge all Apple products, including the new iPad Air and iPad. Today, all Apple facilities run on 100 percent renewable electricity — including the data centers that power Apple Intelligence.

    To achieve Apple 2030, the company is designing products with more recycled and renewable materials, which further drives down the carbon footprint. The new iPad Air and iPad each feature at least 30 percent recycled content overall, including 100 percent recycled aluminum in the enclosure and 100 percent recycled rare earth elements in all magnets. The batteries contain 100 percent recycled cobalt and — in a first for iPad — over 95 percent recycled lithium. The new iPad Air and iPad meet Apple’s high standards for energy efficiency, and are free of mercury, brominated flame retardants, and PVC. The packaging is also entirely fiber-based, bringing Apple closer to its goal of removing plastic from its packaging by the end of this year.8

    Pricing and Availability

    • Customers can pre-order the new iPad Air with M3 starting today, March 4, on apple.com/store, and in the Apple Store app in 29 countries and regions, including the U.S. It will begin arriving to customers, and will be in Apple Store locations and Apple Authorized Resellers, starting March 12.
    • The 11-inch and 13-inch iPad Air with M3 will be available in blue, purple, starlight, and space gray, with 128GB, 256GB, 512GB, and 1TB configurations.
    • The 11-inch iPad Air starts at $599 (U.S.) for the Wi-Fi model, and $749 (U.S.) for the Wi-Fi + Cellular model. The 13-inch iPad Air starts at $799 (U.S.) for the Wi-Fi model, and $949 (U.S.) for the Wi-Fi + Cellular model.
    • For education, the new 11-inch iPad Air starts at $549 (U.S.), and the 13-inch model starts at $749 (U.S.). Education pricing is available to current and newly accepted college students and their parents, as well as faculty, staff, and home-school teachers of all grade levels. For more information, visit apple.com/us-hed/shop.
    • The new Magic Keyboard, available in white, is compatible with the 11-inch and 13-inch iPad Air. The 11-inch Magic Keyboard is available for $269 (U.S.), and the 13-inch Magic Keyboard is available for $319 (U.S.). For education, the 11-inch Magic Keyboard is available for $249 (U.S.), and the 13-inch Magic Keyboard is available for $299 (U.S.).
    • Customers can pre-order the new iPad with A16 starting today, March 4, on apple.com/store, and in the Apple Store app in 29 countries and regions, including the U.S. It will begin arriving to customers, and will be in Apple Store locations and Apple Authorized Resellers, starting March 12.
    • The new iPad starts with 128GB of storage, and is also available in 256GB and a new 512GB configuration. Available in blue, pink, yellow, and silver, Wi-Fi models of the new iPad are available with a starting price of $349 (U.S.), and Wi-Fi + Cellular models start at $499 (U.S.). For education, Wi-Fi models of the new iPad are available with a starting price of $329 (U.S.), and Wi-Fi + Cellular models start at $479 (U.S.).
    • Magic Keyboard Folio for iPad is available for $249 (U.S.) and comes in white. For education, the Magic Keyboard Folio is available for $229 (U.S.).
    • Apple Pencil Pro and Apple Pencil (USB-C) are compatible with the new iPad Air. Apple Pencil (USB-C) and Apple Pencil (1st generation) are compatible with the new iPad. Apple Pencil Pro is available for $129 (U.S.), and $119 (U.S.) for education. Apple Pencil (USB-C) is available for $79 (U.S.), and $69 (U.S.) for education.
    • Apple offers great ways to save on the latest iPad. Customers can trade in their current iPad and get credit toward a new one by visiting the Apple Store online, the Apple Store app, or an Apple Store location. To see what their device is worth and for terms and conditions, customers can visit apple.com/shop/trade-in.
    • Customers in the U.S. who shop at Apple using Apple Card can pay monthly at 0 percent APR when they choose to check out with Apple Card Monthly Installments, and they’ll get 3 percent Daily Cash back — all up front. More information — including details on eligibility, exclusions, and Apple Card terms — is available at apple.com/apple-card/monthly-installments.

    About Apple Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, AirPods, Apple Watch, and Apple Vision Pro. Apple’s six software platforms — iOS, iPadOS, macOS, watchOS, visionOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, iCloud, and Apple TV+. Apple’s more than 150,000 employees are dedicated to making the best products on earth and to leaving the world better than we found it.

    1. Testing conducted by Apple in January and February 2025. See apple.com/ipad-air for more information.
    2. Testing conducted by Apple in January and February 2025 using preproduction iPad Air 11-inch (M3) and iPad Air 13-inch (M3) units as well as production iPad Air (4th generation) units. Tested with Procreate Dreams v1.0.14 by exporting a 29-second project. Performance tests are conducted using specific iPad units and reflect the approximate performance of iPad Air.
    3. Testing conducted by Apple in January and February 2025 using preproduction iPad Air 11-inch (M3) and iPad Air 13-inch (M3) units as well as production iPad Air (5th generation) units. Octane X 2024.1.01 for iPad tested using a scene with 770,000 meshes and 8 million unique primitives, utilizing hardware-accelerated ray tracing on M3-based systems and software-based ray tracing on all other units. Performance tests are conducted using specific iPad units and reflect the approximate performance of iPad Air.
    4. Apple Intelligence is available on iPad mini (A17 Pro) and iPad models with M1 and later, in localized English for Australia, Canada, Ireland, New Zealand, South Africa, the UK, and the U.S. Additional languages — including French, German, Italian, Portuguese (Brazil), Spanish, Japanese, Korean, Chinese (simplified), English (Singapore), and English (India) — will be available in April, with more languages coming over the course of the year, including Vietnamese. Some features, applications, and services may not be available in all regions or all languages.
    5. Testing conducted by Apple in January and February 2025 using preproduction iPad (A16) units as well as production iPad (10th generation) units. Tested with a selection of tasks using Microsoft Excel for iPad v2.93. Performance tests are conducted using specific iPad units and reflect the approximate performance of iPad.
    6. Testing conducted by Apple in January and February 2025 using preproduction iPad (A16) units with Apple A16, as well as production Qualcomm SM6375-based Android tablet units with the latest version of Android 14 available at the time of testing. Best-selling Android tablet based on publicly available sales data over the last 12 months. Tested with common tasks in commercial applications and select industry-standard benchmarks. Performance depends on device settings, usage, environment, and many other factors. Performance tests are conducted using specific systems and reflect the approximate performance of iPad.
    7. Some features may not be available for all countries or all areas. For more information on iPadOS 18, visit apple.com/ipados/ipados-18.
    8. Based on retail packaging as shipped by Apple. Breakdown of U.S. retail packaging by weight. Adhesives, inks, and coatings are excluded from calculations of plastic content and packaging weight.

    Press Contacts

    Tara Courtney

    Apple

    tcourtney@apple.com

    Skylar Eisenhart

    Apple

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    Apple Media Helpline

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    MIL OSI Economics

  • MIL-OSI: Gradle Inc. and Google Celebrate 10-Year Partnership on Android™ Studio

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, March 04, 2025 (GLOBE NEWSWIRE) — This past December marked the 10-year anniversary of Android Studio’s 1.0 release, a key milestone in the long-standing partnership between Google—producer of Android Studio—and Gradle Inc, the company behind Gradle Build Tool, one of the world’s most popular build systems. For the past decade, Android Studio has been the go-to IDE (integrated development environment) for millions of Android developers worldwide with Gradle Build Tool as the default build system. From faster build times to managing complex build requirements, Gradle Build Tool has been a critical part of Android toolchain, fostering developer productivity and happiness.

    The partnership is a testament to Gradle and Android’s shared commitment to equipping developers with tools to improve the developer experience. According to industry market research firm Evans Data, there are 5.9 million Android developers across the globe. The vast majority of them rely on Gradle Build Tool integration in Android Studio via the Android Gradle Plugin to build their apps.

    ‘With Android Studio, we made two big bets: switching to a new IDE and switching to a new build system. After evaluating the alternatives, we chose Gradle as our default build system because of its ability to handle Android’s complex build requirements and be seamlessly integrated into the IDE creating a single consistent build experience across IDE usage and CI builds,” said Tor Norbye, Engineering Director of Android Studio at Google. “We’re incredibly thankful for our partnership with Gradle over the last decade, and are looking forward to many more years of working together to power fast and flexible builds!”

    Over the years, Gradle has scaled to support the tremendous growth of the Android ecosystem. Improved build performance thanks to parallel execution, build cache, and more recently configuration cache, allowed Gradle Build Tool to scale to support even the largest of Android projects. The addition of Kotlin DSL as the default for new builds allows Android developers to use the same language in both production code and build scripts.

    “Android Studio’s 10th anniversary marks a decade of incredible progress for Android developers,” said Hans Dockter, co-founder and CEO of Gradle Inc. “We are proud that Gradle Build Tool has continued to be a foundational part of the Android toolchain, enabling millions of Android developers to build their apps faster, more elegantly, and at scale.”

    With current initiatives, like Declarative Gradle and Isolated Projects, Google and Gradle continue to collaborate on the next advancements in usability and scalability. Android developers can also access Gradle’s free Build Scan® service, which has generated over 100 million detailed reports on builds since 2020. In addition to Android, Gradle Build Tool also supports Java, Kotlin, Groovy, and Scala ecosystems and is trusted by millions of developers creating innovative, high-quality software. Develocity offers advanced features like advanced Build Cache, Predictive Test Selection, Test Distribution, Flaky Test Detection, Test Failure Analytics, and deep toolchain observability leveraged by multiple Android projects, including AndroidX.

    For more information on Gradle Build Tool for Android Studio, visit this Android developer page. For Develocity and Android Studio, visit this solution page.

    About Gradle
    Gradle Inc. is the award-winning developer productivity company behind Gradle Build Tool—one of the most used build systems in the world—and Develocity, the leading developer toolchain observability platform. Develocity provides comprehensive observability, build and test acceleration technologies, and rapid troubleshooting features for Apache Maven, Android, Bazel, sbt, npm, Python, and Gradle Build Tool. Top companies like Netflix, LinkedIn, ASML, Airbnb, Microsoft, Nasdaq, and SAP use Develocity to deliver critical software faster at scale.

    Contact
    LaunchSquad for Gradle, gradle@launchsquad.com

    Disclaimer: Android is a trademark of Google LLC.

    The MIL Network

  • MIL-OSI: Swipesum Partners with Facility Ally to Redefine Payment Solutions for Eatertainment Venues and Sports Facilities

    Source: GlobeNewswire (MIL-OSI)

    ST. LOUIS, March 04, 2025 (GLOBE NEWSWIRE) — Swipesum, a leading payment processing consultancy and merchant services company, announced today its partnership with Facility Ally, a premier provider of business solutions for sports and entertainment facilities. Together, Swipesum and Facility Ally have launched AllyPay, an embedded payments solution that streamlines transactions and customer support and improves financial management for eatertainment venues, sports clubs, and facility management organizations.

    Through AllyPay, Facility Ally customers will now have access to a more seamless and efficient payment processing experience backed by Swipesum’s industry expertise. Key features of AllyPay include:

    • Optimized Transaction Processing: In addition to providing higher-level payment security, Swipesum will use its proprietary auditing software, Staitment, to negotiate lower payment processing fees and transaction costs with facility operators.
    • Real-Time Chargeback Notifications and Support: Proactively addresses disputes to save time and reduce manual workloads.
    • White Glove Support: Offers access to Swipesum’s team of payments experts with a dedicated support team that provides personalized guidance, expert insights and tailored solutions that improve efficiency.
    • Next-Day Funding: Offers an expedited funding timeline, allowing businesses to access their revenue as soon as the next day.

    Beyond payment processing, Facility Ally delivers comprehensive business solutions that support every aspect of facility operations. In addition to scheduling, resource management, and consulting, Facility Ally’s dedicated media agency provides branding, website development, SEO, and marketing services tailored for sports and eatertainment venues. With the rise of membership-based and social sports clubs—including the 18,000 new pickleball courts added in 2024—sports facilities increasingly rely on recurring payment systems, reinforcing the need for robust chargeback support and optimized payment solutions.

    “Swipesum is thrilled to leverage our embedded payments expertise in partnership with Facility Ally’s cutting-edge solution,” said Michael Seaman, founder and CEO of Swipesum. “Our goal with AllyPay is to equip facility managers with efficient tools that streamline operations, reduce costs, and deliver a seamless payment experience for their clients while increasing the revenues from payment processing for Facility Ally.”

    With AllyPay, facilities gain access to an embedded payment gateway with additional features like QuickBooks syncing, detailed sales tracking reports and enhanced security features. These tools help eliminate manual work and errors, accelerate payment cycles, and create a seamless, user-friendly payment experience for facility members and visitors.

    “Partnering with Swipesum to launch AllyPay allows us to provide unparalleled value to our clients,” said Luke Wade, founder and CEO of Facility Ally. “By offering a specialized payment solution tailored to our industry, we’re empowering our customers to streamline their financial processes and focus on what matters most.”

    To learn more about Facility Ally and AllyPay, visit https://facilityally.com/allypay. To learn more about Swipesum visit www.swipesum.com.

    About Swipesum
    Swipesum is a comprehensive credit card processing company and merchant services consultancy delivering innovative auditing solutions to businesses nationwide. Swipesum acts as a company’s Chief Payments Officer, combining industry knowledge, AI and proprietary software to create a transparent payments strategy that optimizes payment processing fees. The team of expert consultants provides 24/7 assistance and continued monitoring to return the budgetary power back to the business owner. Visit www.swipesum.com for more information.

    About Facility Ally
    Facility Ally is a turnkey business solution designed for sports and entertainment facilities, offering everything you need to launch and manage your venue seamlessly. From simplified booking software to a dedicated media agency for branding, website development, and SEO, Facility Ally ensures your new facility is set up for success. Their expert consulting services provide the guidance needed to plan, strategize, and execute a successful facility launch with confidence. With over 15 years of experience and a proven track record of successful implementations, Facility Ally delivers the tools and expertise to streamline operations and enhance customer experiences. For more information, visit https://facilityally.com.

    Media Contact
    Kalie Griffin
    Uproar by Moburst for Swipesum
    kalie.griffin@moburst.com

    The MIL Network

  • MIL-OSI: nuVizz Recognized in the 2025 Gartner® Market Guide for Vehicle Routing and Scheduling

    Source: GlobeNewswire (MIL-OSI)

    ATLANTA, March 04, 2025 (GLOBE NEWSWIRE) — nuVizz, a provider of transportation management solutions and last-mile delivery technology, today announced its recognition as a Representative Vendor in the 2025 Gartner® Market Guide for Vehicle Routing and Scheduling1. This is the second consecutive year that nuVizz is recognized as a Representative Vendor in Gartner’s VRS Market Guide.

    nuVizz was also recognized as a Representative Vendor in the 2024 Gartner Market Guide for Last-Mile Delivery Technology Solutions.

    The report says, “Gartner defines a vehicle routing and scheduling (VRS) solution as an application that creates vehicle routes and schedules, considering multiple constraints and service requirements while minimizing transportation fleet costs and mileage. VRS creates repeatable scheduled static routes and/or dynamic routes based on inputs (orders, deliveries and pickups), rules and constraints for meeting objectives. Transportation delivery fleets include both full truckload and last mile. VRS solutions are capable of running both scenario modeling analysis to support fleet sizing, delivery window optimization, long-term planning and tactical optimization for execution of deliveries.”

    nuVizz’s AI- and ML-powered last-mile TMS platform serves shippers with large delivery networks, last-mile delivery fleets, carriers, LSPs, and agents, optimizing both B2B and B2C deliveries. By analyzing data and real-time conditions, nuVizz can route and schedule last-mile deliveries and streamline delivery progress updates through real-time notifications.

    The report goes on to note, “Vendors are also optimizing other aspects of the transportation operation, such as driver and fleet utilization and address validation. Routing algorithms can process new data inputs to provide more accurate, optimal routing, resulting in near-real-time operation control and visibility. Examples of the new data inputs include historical and predicted traffic patterns, weather or detention times at distribution centers, and customers preferences and their delivery options.”

    nuVizz recently announced its new AI assistant, Vizzard, which helps dispatchers select ideal algorithms to optimize routes, improve vehicle utilization, and reduce mileage based on delivery demand patterns, as well as provide intelligent address correction and validation. nuVizz empowers users to optimize last-mile operations with predictive analytics, real-time alerts, and omnichannel supply chain visibility.

    “For fleets, drivers and shippers to thrive in the evolving supply chain landscape, they need intelligent, adaptable technology that enables seamless orchestration and optimization of deliveries in real-time,” said nuVizz CEO Guru Rao. “We believe that being recognized in Gartner’s VRS Market guide underscores our commitment to providing innovative solutions that empower logistics operators to enhance efficiency, visibility, and the overall last-mile experience for their customers.”

    Gartner® adds, “Routing algorithms are one of the components that define and differentiate VRS solutions from other transportation solutions. Vendors keep adding more capabilities that enhance the optimization options provided. In order to maximize the use of the different routing options (static, dynamic or real-time routing), vendors are adding options to outsource transportation to external fleets, such as parcel couriers, on-demand fleets and full truckload carriers. This has created an opportunity for VRS to have specialized solutions for the complexity to support each routing type.”

    Gartner® subscribers can access the full report here.

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

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

    1. Gartner, Market Guide for Vehicle Routing and Scheduling, Nathan Lease, Oscar Sanchez Duran, and Carly West, January 29, 2025

    About nuVizz
    nuVizz lights the way to better delivery and transportation logistics. From the first mile to the last mile-and everything in between – we’re trailblazers in supply chain optimization and digitization. Infinitely flexible, the nuVizz SaaS platform drives visibility, control, cost savings, and a better customer experience across the fulfillment lifecycle.

    Our single-minded mission: simple, sustainable transportation solutions for every business on the planet. Go further, grow faster. For more information, visit nuvizz.com.

    Media Contact
    Erika Belezarian
    LeadCoverage
    erika@leadcoverage.com

    The MIL Network

  • MIL-OSI: Primech AI Launches Global Robotics as a Service (RaaS) Initiative with Chinachem Group Partnership

    Source: GlobeNewswire (MIL-OSI)


    Pioneering AI-Powered Cleaning Technology Deployment Marks Strategic Expansion into Hong Kong Market

    SINGAPORE, March 04, 2025 (GLOBE NEWSWIRE) — Primech AI Pte. Ltd. (“Primech AI”) or (the “Company”), a subsidiary of Primech Holdings Limited (Nasdaq: PMEC), is proud to announce the launch of its innovative Robotics as a Service (RaaS) business line, revolutionizing the cleaning solutions industry. This strategic initiative addresses critical industry challenges including labor shortages, hygiene standards, and operational costs through proprietary AI-driven technology.

    As part of this global expansion strategy, Primech AI has signed a Memorandum of Understanding (MoU) with CCG Property Services, a subsidiary of Hong Kong’s leading property developer Chinachem Group, to deploy HYTRON, an AI-powered fully automated toilet cleaning robot, in selected facilities managed by CCG Property Services in Hong Kong.

    Figure 1: Nina Tower 1 in Hong Kong, where Primech AI’s HYTRON will be deployed.

    The deployment of HYTRON marks the initial phase of Primech AI’s bold initiative to roll out 300 cleaning robots across Singapore, Hong Kong, and Dubai. This expansion reinforces the company’s position as a technology leader in autonomous cleaning solutions for facility services and sanitation.

    “This collaboration marks a significant milestone in our global expansion of our Robotics as a Service solution,” said Charles Ng, Chief Operating Officer of Primech AI. “While our cleaning services continue to serve the Singapore market, we are extending the Raas business model making it accessible internationally, beginning with this strategic partnership in Hong Kong’s premier property portfolio.”

    Under the two-year MoU, Primech AI will supply and install HYTRON robots in designated facilities, including the iconic Nina Tower 1, with comprehensive maintenance, technical support, and staff training. CCG Property Services will integrate the robots into daily operations, showcasing HYTRON’s capabilities in elevating cleanliness standards and operational efficiency.

    Primech AI envisions a long-term expansion of HYTRON into additional global markets, including Australia, Europe, and the United States, bringing cutting-edge cleaning solutions to more regions worldwide. Beyond this initial deployment, the company also plans to extend its Robotics-as-a-Service (RaaS) offering to these markets, further enhancing accessibility of its advanced cleaning technology on a global scale.

    “Beyond advancing automation in the traditional cleaning industry, this deployment marks a significant milestone for Primech Holdings Limited. It demonstrates our ability to expand internationally and provide cutting-edge cleaning solutions across borders. By working with esteemed partners like Chinachem Group and CCG Property Services, we are proving that our technology is not only effective but also scalable on a global level. This is just the beginning of our vision to redefine commercial cleaning through AI and robotics.” said Kin Wai Ho, CEO of Primech Holdings Limited. This initiative underscores Primech Holdings’ commitment to transforming the cleaning industry through advanced technology while expanding its global footprint beyond its traditional Singapore base.

    Primech AI’s self-developed HYTRON bathroom cleaning robot is integrated with advanced NVIDIA technology. The latest HYTRON model incorporated the NVIDIA Jetson Orin Nano Super, a state-of-the-art System-on-Module (SoM) designed for robust edge AI and robotics applications. The HYTRON robot also uses a suite of NVIDIA software, including CUDA, CuDNN, TensorRT, and NVIDIA Driver, to optimize its AI capabilities.  This combination of hardware and software allows HYTRON to deliver superior processing speed, efficiency, and reliability in its cleaning tasks.

    About Chinachem Group

    Founded in 1960, Chinachem Group is a private real estate company in Hong Kong, with a portfolio covering residential, commercial, retail and industrial buildings for sales and investment, in addition to operating hotels and property management services as well as elderly services.

    Dedicated to making better places to live, work and raise future generations in Hong Kong and beyond, the Group seeks to deliver lasting commercial, social and environmental benefits.

    Please visit www.chinachemgroup.com/en

    About Primech Holdings Limited
    Headquartered in Singapore, Primech Holdings Limited is a leading provider of comprehensive technology-driven facilities services, predominantly serving both public and private sectors throughout Singapore. Primech Holdings offers an extensive range of services tailored to meet the complex demands of its diverse clientele. Services include advanced general facility maintenance services, specialized cleaning solutions such as marble polishing and facade cleaning, meticulous stewarding services, and targeted cleaning services for offices and homes. Known for its commitment to sustainability and cutting-edge technology, Primech Holdings integrates eco-friendly practices and smart technology solutions to enhance operational efficiency and client satisfaction. This strategic approach positions Primech Holdings as a leader in the industry and a proactive contributor to advancing industry standards and practices in Singapore and beyond. For more information, visit www.primechholdings.com.   

    About Primech AI

    Primech AI is a leading robotics company dedicated to pushing the boundaries of innovation in technology. With a team of passionate individuals and a commitment to collaboration, Primech AI is poised to revolutionize the robotics industry with groundbreaking solutions that make a meaningful impact on society. For more information, visit www.primech.ai.

    Forward-Looking Statements

    Certain statements in this announcement are forward-looking statements, including, for example, statements about completing the acquisition, anticipated revenues, growth, and expansion. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. These forward-looking statements are also based on assumptions regarding the Company’s present and future business strategies and the environment in which the Company will operate in the future. Investors can find many (but not all) of these statements by the use of words such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “likely to” or other similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure that such expectations will be correct. The Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.

    Company Contact:

    Email: ir@primech.com.sg

    Investor Relations Contact:
     
    Matthew Abenante, IRC
    President   
    Strategic Investor Relations, LLC
    Tel: 347-947-2093
    Email: matthew@strategic-ir.com

    The MIL Network

  • MIL-OSI: Varonis Named a Leader and a Customer Favorite in Data Security Platforms by Independent Research Firm

    Source: GlobeNewswire (MIL-OSI)

    MIAMI, March 04, 2025 (GLOBE NEWSWIRE) — Varonis Systems, Inc. (Nasdaq: VRNS) proudly announced it was named a Leader by renowned research and advisory firm Forrester in the report, The Forrester Wave™: Data Security Platforms, Q1 2025. Varonis also received the new designation of a Customer Favorite among evaluated vendors based on outstanding customer feedback.

    Findings from the report:

    • Varonis earned the Highest Score in the Current Offering category. Varonis earned 5 out of 5 scores in the criteria of Data Discovery, Data Classification, Data Threat and Risk Visibility, Data Access Controls, Reporting, Investigations, Manageability and Support, and Supplier Risk.
    • Varonis is Top-Ranked in the Strategy category. Varonis earned the highest score in the Strategy category, receiving the highest possible scores in the criteria of Vision, Innovation, Pricing Flexibility and Transparency, Community, and Supporting Services and Offerings.
    • Varonis received a Customer Favorite designation. According to the report: “Customers praise the careful, planned use of AI and automation, highlighting areas like workflow and data classification. They commend Varonis’ support and both the IR and MDDR (Managed Data Detection and Response) services.”

    According to the report, “Varonis’ vision of harnessing deep data insights to automate remediation for data security outcomes stands out. Its demonstrated ability to execute and its approach to innovation and supporting services reinforce its differentiation.” The report also stated that “Organizations that require deep understanding of data and remediation of access controls across their environment, with services to augment their own team, should consider Varonis.”

    “We are enormously proud that Varonis has been named a Leader in Data Security Platforms,” said Varonis CEO, President and Co-founder Yaki Faitelson. “We believe this recognition further validates our platform approach which gives customers an end-to-end solution to automatically and continuously reduce sensitive data risk, stop advanced cyberattacks, and adopt AI with confidence.”

    Access the full report to see why Varonis is a Leader and a Customer Favorite.

    Additional Resources

    Forrester does not endorse any company, product, brand, or service included in its research publications and does not advise any person to select the products or services of any company or brand based on the ratings included in such publications. Information is based on the best available resources. Opinions reflect judgment at the time and are subject to change. For more information, read about Forrester’s objectivity here.

    About Varonis

    Varonis (Nasdaq: VRNS) is the leader in data security, fighting a different battle than conventional cybersecurity companies. Our cloud-native Data Security Platform continuously discovers and classifies critical data, removes exposures, and detects advanced threats with AI-powered automation.

    Thousands of organizations worldwide trust Varonis to defend their data wherever it lives — across SaaS, IaaS, and hybrid cloud environments. Customers use Varonis to automate a wide range of security outcomes, including data security posture management (DSPM), data classification, data access governance (DAG), data detection and response (DDR), data loss prevention (DLP), AI security, and insider risk management.

    Varonis protects data first, not last. Learn more at www.varonis.com.

    Investor Relations Contact:
    Tim Perz
    Varonis Systems, Inc.
    646-640-2112
    investors@varonis.com

    News Media Contact:
    Rachel Hunt
    Varonis Systems, Inc.
    877-292-8767 (ext. 1598)
    pr@varonis.com 

    The MIL Network

  • MIL-OSI Economics: Real Quantum Dot Guide: 10 Years of Samsung Innovations Redefining Picture Quality Standards

    Source: Samsung

    Quantum dots have attracted attention as a next-generation material for a wide range of applications including displays, medical devices and solar cells. In 2014, Samsung Electronics developed the world’s first no-cadmium quantum dot material and successfully commercialized quantum dot technology with its SUHD TVs. Since 2017, the company has continued to build on its legacy of quantum dot mastery through QLED — its own quantum dot TV series. Samsung Newsroom explored how quantum dots are taking Samsung displays to the next level.

    Quantum Dots: The Next Generation of Display Innovation
    Quantum dots are ultra-fine semiconductor particles with physical characteristics that allow them to provide higher level of color accuracy and brightness. Since inception, their physical characteristics had them positioned to revolutionize display technology.
    When used in displays, quantum dots support a wide color gamut that closely matches colors perceived by the human eye and facilitate pixel-level light adjustment for more accurate black levels. Emitting light in all directions, quantum dots deliver uniform luminance and consistent color from any viewing angle while minimizing blue light exposure for a more comfortable viewing experience.

    What Sets Samsung QD TVs Apart: Content, Film Quality and No-Cadmium Technology
    The TV industry continues research and development into the commercialization of quantum dots as the material becomes a game-changer in display technology. For that reason, a variety of quantum dot TVs have hit the market recently — offering a wide range of options to customers.
    However, key differences in quantum dot TVs lie in how the technology is implemented and the overall quality of the display. To ensure a premium viewing experience, factors such as the amount of quantum dot content, the quality of quantum dot film and the innovative use of no-cadmium materials must be considered.

    Quantum Dot Content
    The true quality of a quantum dot TV is defined by its quantum dot content. Higher concentrations of Quantum Dots in the QD layer are required to achieve the vivid, rich picture quality and color expression that QLED displays are known for.
    Quantum Dot Film
    Quantum dot displays have a simpler and more efficient structure compared to LCDs. Samsung QLEDs eliminate the need for a phosphor layer, as the QD layer itself, together with the blue backlight combine to enhance brightness and deliver more vivid color. .
    A dedicated quantum dot film that contains sufficient quantum dots is key in delivering top-class picture quality and longevity.

    No Cadmium
    In the early stages of developing quantum dot TVs, cadmium was considered the most efficient material for producing quantum dots and essential to achieving the technology’s key benefits of quantum dots such as color reproduction and contrast ratio.
    However, cadmium’s toxicity and environmental impact became a significant obstacle to the commercialization of quantum dot technology. The element posed threats to the environment — making its widespread use difficult, despite being the most suitable material for implementing quantum dot technology.
    In response to this challenge, Samsung developed and patented the world’s first no-cadmium quantum dot material in 2014 and successfully commercialized quantum dot technology with its SUHD TVs in the following year to open a new era of quantum dot TVs.

    10 Years of Quantum Dot Innovation and Leadership
    Samsung has quickly recognized the potential of quantum dot technology and led innovation in the global display market over the past decade through continuous research and investment.

    Samsung began researching and developing quantum dot technology in 2001 — at a time when there was limited research on non-cadmium materials. Achieving vivid colors required making the nano-sized particles uniform, but the lack of technology and research made mass production extremely challenging.
    Despite these obstacles, Samsung succeeded in creating a no-cadmium nanocrystal material in 2014. Since then, the company has accumulated extensive expertise — registering more than 150 patents — and continuously worked on advancing the technology. As noted above, delivered another innovation in 2015 when it unveiled the world’s first SUHD TVs with no-cadmium quantum dot technology.

    Samsung’s QLED lineup was revealed in 2017, setting a new standard for premium TVs that overcame the limitations of OLED TVs. By applying metal quantum dot technology, Samsung achieved the Digital Cinema Initiative’s color standard DCI-P3 and achieved 100% color volume for the first time in the world — thereby presenting unparalleled color expression. Notably, the use of inorganic quantum dot technology protected the screens from burn-in2 to ensure consistent picture quality over time.

    Following its success in developing a red light-emitting element for displays in 2019, the company enhanced the luminous efficiency of blue self-emitting QLEDs — considered the most challenging to implement among the three primary QLED colors1 — to an industry-leading 20.2%.2
    “Discovering a blue material for self-emitting QLEDs and demonstrating industry-leading performance at the device level were significant achievements of this research,” said Dr. Eunjoo Chang, a fellow at Samsung Advanced Institute of Technology. “Samsung’s distinctive quantum dot technology has once again overcome technical barriers.”
    Our latest Samsung Neo QLED TV models take things one step further by replacing standard LEDs with a higher number of mini-LEDs, allowing for even more detail, brightness, and vivid colors, and are available with both 4K and 8K resolution.
    Samsung remains dedicated to advancing quantum dot technology through continuous innovation. The company continues to invest in leading display technology by offering high brightness, color accuracy and frequency. Driven by unrivaled quantum dot innovations from Samsung, the future of display technology is brighter than ever.

    MIL OSI Economics

  • MIL-OSI United Kingdom: Appeal for more volunteers as new city-wide scheme launches

    Source: City of Leeds

    Meet the volunteers urging more people to sign up as Leeds City Council launches its new volunteering scheme.

    Volunteer Team Leeds is the brand-new scheme bringing together and inviting new people to join the vibrant volunteering community that supports Leeds City Council affiliated events and initiatives.

    From the stunning displays of Light Night and the cinematic experiences of the Leeds International Film Festival, to enriching opportunities within libraries and vital volunteer befriending schemes, Volunteer Team Leeds offers a diverse range of ways to contribute.

    Building on the legacy of LEEDS2023, where over 1,800 volunteers signed up to support the city’s year of culture, the scheme aims to retain and grow this valuable community through a new simple, user-friendly, volunteer orientated system.

    Previously working as a postman, Bill Hargreaves’ favourite part of his job was being able to help people. During lockdown he would even help residents by posting letters for them.

    Having retired three years ago, he now spends most of his time volunteering and is a regular volunteer at most Leeds City Council events, such as Light Night and the Leeds International Piano Competition.

    “When I retired, I felt like there was no reason to stop being helpful just because I don’t get paid for it. I was worried there would be a void after retirement but I’ve made sure to fill that with volunteering,” Bill says.

    “There’s no way I was ever going to be someone who sits in front of the TV when I retired. I’m just having so much fun now,” he adds.

    Like Bill, many people decide to volunteer because they enjoy it, but there are many other benefits that can come with it.

    Khara Linton-Salmon has volunteered at film festivals across the country, but it was at Leeds Film Festival she made connections to build a career in film. In 2024, she worked as a programmer for the festival in the short film category.

    “I felt like I could speak to people that were higher up than me, and they gave me good advice, they actually wanted to help me progress,” she explains. 

    “The main reason why I wanted to volunteer was just because I love film. It wasn’t until I decided to volunteer at Leeds that the snowball started rolling. Leeds gave me more of an opening to making it a career. 

    “Anybody that loves film I’m always telling them to do it. Not even for a career path but just because it’s fun. You go in with your passion and you meet 50 other people with the same passion,” she says.

    With the launch of Volunteer Team Leeds comes a new platform which will be a one-stop-shop for people to create a profile and sign up to volunteer with different services or events either organised or supported by Leeds City Council. Volunteers will also be able to access learning and development tools.

    To date there are close to 2,000 volunteers already signed up.

    Councillor Mary Harland, Leeds City Council’s executive member for communities, customer service and community safety, and champion for volunteering, said:

    “We believe volunteers are at the heart of our city. From the pitch to the streets, and across our communities, our city is full of passion for helping out and giving back. With Volunteer Team Leeds we’re hoping to get even more people signing up to share skills, meet people and learn new things. As a key part of our city’s Volunteering Strategy, we want Leeds to be a city that is the best to volunteer in and that celebrates volunteering in all its forms, where it’s easy for people to find ways to make a difference and get involved.

    “We encourage all residents of Leeds to create a profile on the new platform and join the growing community of volunteers making a brilliant positive impact through council-supported initiatives across the city.”

    Volunteer Team Leeds is funded through central government’s UK Shared Prosperity Fund, which is administered locally by the West Yorkshire Combined Authority.

    Read more about Volunteer Team Leeds and sign up at www.volunteerteamleeds.co.uk.

    ENDS

    MIL OSI United Kingdom

  • MIL-OSI: Great Elm Capital Corp. (“GECC”) Schedules Fourth Quarter and Full Year 2024 Earnings Release and Conference Call

    Source: GlobeNewswire (MIL-OSI)

    PALM BEACH GARDENS, Fla., March 04, 2025 (GLOBE NEWSWIRE) — Great Elm Capital Corp. (the “Company” or “GECC”), (NASDAQ: GECC), a business development company, today announced it will release its financial results for the fourth quarter and full year ended December 31, 2024 after the close of market trading on Monday, March 10, 2025, and discuss these results in a conference call on Tuesday, March 11, 2025 at 8:30 a.m. ET.

    Date/Time: Tuesday, March 11, 2025 – 8:30 a.m. ET
        
    Participant Dial-In Numbers:  
    (United States): (877) 407-0789
    (International): (201) 689-8562
       

    To access the call, please dial-in approximately five minutes before the start time and, when asked, provide the operator with passcode “GECC”. An accompanying slide presentation will be available in pdf format via the “Events and Presentations” section of Great Elm Capital Corp.’s website here after the issuance of the earnings release.

    Webcast
    The call and presentation will also be simultaneously webcast over the internet via the “Events and Presentations” section of GECC’s website or by clicking on the webcast link here.

    About Great Elm Capital Corp.
    GECC is an externally managed business development company that seeks to generate current income and capital appreciation by investing in debt and income generating equity securities, including investments in specialty finance businesses and CLOs. For additional information, please visit http://www.greatelmcc.com.

    Media & Investor Contact:
    Investor Relations
    investorrelations@greatelmcap.com

    Source: Great Elm Capital Corp.

    The MIL Network

  • MIL-OSI: Phunware Appoints Quyen Du to Board of Directors

    Source: GlobeNewswire (MIL-OSI)

    25-Year Corporate Strategy & Development Executive at Fortune 500 Consumer Brands to Advance Company’s New Strategic Growth Initiatives

    AUSTIN, Texas, March 04, 2025 (GLOBE NEWSWIRE) — Phunware, Inc. (“Phunware” or the “Company”) (NASDAQ: PHUN), a leader in enterprise cloud solutions for mobile applications, announced today the appointment of Quyen Du to its Board of Directors as an independent director, effective February 28, 2025. Ms. Du will also serve on the Company’s Audit, Compensation and Nominating and Corporate Governance Committees.

    Ms. Du brings 25 years’ experience in strategy and corporate development to the Company. Based in Texas, she is a recognized leader in finance, media and entertainment, recently serving as Head of Corporate Strategy & Development, Innovations and Research for Condé Nast (NYC). Ms. Du adds a depth of experience working in a wide range of roles across corporate strategy, finance and investments, business development, distribution and partnerships. Her previous experience includes her work for Fandom, Inc., one of the world’s largest entertainment fan community platforms, where she led corporate development and was responsible for driving acquisitive growth opportunities. Ms. Du also held various executive positions at NBC Universal, where she worked on transformative M&A deals, corporate digital strategy and new market entry initiatives, including across digital native, streaming, commerce, data, gaming and audio. She has also held a studio distribution planning position at Disney and a business development role at Showtime.

    Ms. Du will serve as a Class III director and is filling a seat vacated in October 2024 as a result of the resignation of our then CEO Michael Snavely.

    “Quyen has an impressive record of guiding strategic growth and adds tremendous insight to our Board across investments, M&A and new business development,” said interim CEO Stephen Chen. “The combined business and product strategy experience of our full Board today is a fundamental asset in guiding Phunware into the future. The Board and I welcome Quyen and look forward to together driving high growth revenue and profitability for our company and investors.”

    Phunware Business Update on Nasdaq Delisting Notification

    Ms. Du’s appointment is expected to satisfy Nasdaq Stock Market LLC (“Nasdaq”) continued listing requirements for audit committee service. The appointment of Ms. Du is also intended to facilitate planning of Phunware’s 2024 Annual Shareholder Meeting at which the Class III Director seat is to be filled. Nasdaq cited Phunware for non-compliance with continued listing rules due to its failure to hold an annual stockholders’ meeting prior to fiscal year ended December 31, 2024. The Company in February submitted a compliance plan to Nasdaq setting forth steps it intends to take to address the issue, including nomination or Ms. Du for formal election to serve as the Class III director.

    About Phunware

    Phunware, Inc. (NASDAQ: PHUN) is an enterprise software company specializing in mobile app solutions with integrated intelligent capabilities. We provide businesses with the tools to create, implement, and manage custom mobile applications, analytics, digital advertising, and location-based services. Phunware is transforming mobile engagement by delivering scalable, personalized, and data-driven mobile app experiences.

    Phunware’s mission is to achieve unparalleled connectivity and monetization through the widespread adoption of Phunware mobile technologies, leveraging brands, consumers, partners, digital asset holders, and market participants. Phunware is poised to expand its software products and services audience through its new Generative AI platform, utilize and monetize its patents and other intellectual property, and reintroduce its digital asset ecosystem for existing holders and new market participants.

    For more information on Phunware, please visit www.phunware.com. To better understand and leverage generative AI and Phunware’s mobile app technologies, visit ai.phunware.com.

    Safe Harbor / Forward-Looking Statements

    This press release includes forward-looking statements. All statements other than statements of historical facts contained in this press release, including statements regarding our future results of operations and financial position, business strategy and plans, and our objectives for future operations, are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” and similar expressions are intended to identify forward-looking statements. For example, Phunware is using forward-looking statements when it discusses the adoption and impact of emerging technologies and their use across mobile engagement platforms.

    The forward-looking statements contained in this press release are based on our current expectations and beliefs concerning future developments and their potential effects on us. These forward-looking statements involve risks, uncertainties, and other assumptions that may cause actual results to differ materially from those expressed or implied. These risks and uncertainties include, but are not limited to, those factors described under the heading “Risk Factors” in our filings with the SEC. We undertake no obligation to update any forward-looking statements.

    By their nature, forward-looking statements involve risks and uncertainties. We caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from those expressed or implied by these forward-looking statements.

    Investor Relations Contact:

    Chris Tyson, Executive Vice President
    MZ Group – MZ North America
    949-491-8235
    PHUN@mzgroup.us
    www.mzgroup.us

    Phunware Media Contact:

    Joe McGurk, Managing Director
    917-259-6895
    PHUN@mzgroup.us

    The MIL Network

  • MIL-OSI: Verb to Acquire AI Social Selling Startup LyveCom

    Source: GlobeNewswire (MIL-OSI)

    LOS ALAMITOS, Calif., March 04, 2025 (GLOBE NEWSWIRE) — Verb Technology Company, Inc. (Nasdaq: VERB) (“VERB” or the “Company”), the technology company behind MARKET.live, a leading livestream social shopping platform, and GO FUND YOURSELF!, a TV show and innovative new platform disrupting the crowd funding industry, today announces that it has executed a binding term sheet to acquire LyveCom, a cutting-edge AI-driven video commerce platform. The transaction is subject to certain terms and conditions, including completion of an audit of Lyvecom’s financial statements, which terms and conditions are set forth in detail in the Form 8-K filed by the Company today.

    While the transaction is expected to close within the next 60 days, if not sooner, Phase 1 of the integration of Lyvecom’s technology is complete and the new MARKET.live officially launches TODAY.

    Management contends that this transaction should not be underestimated. The integration of LyveCom’s AI-driven technology into VERB’s MARKET.live now allows brands and merchants to deliver an omnichannel livestream shopping experience to their customers. Brands and merchants will not only engage their client and customers on the newly updated and refreshed MARKET.live site, but also seamlessly across their own websites, mobile apps, and social platforms, all while leveraging AI-powered video content automation and personalized shopping experiences.

    This proprietary technology embeds livestreams and shoppable videos directly onto merchant websites without impact on site speed, while simultaneously aggregating and repurposing content from TikTok, Instagram, and YouTube into interactive shopping experiences, allowing brands to engage customers without constant content production.

    A Transformative Step for MARKET.live and the Livestream Shopping Industry
    The new MARKET.live will introduce game-changing innovations, including:

    • One-Click Simulcasting: Instantly scale the broadcast of live shopping events across MARKET.live, TikTok Shop, Shopify’s Shop App, and other social sites, including the merchant’s own e-commerce sites, maximizing audience reach and engagement, while maintaining checkout and unified inventory management and control across all of the merchant’s social sites and platforms.
    • AI-Driven Video Commerce: Advanced AI capabilities will power real-time user-generated-content creation, automated video content repurposing, and AI-powered virtual live shopping hosts.
    • Frictionless Merchant Integration: Frictionless, self-serve onboarding for merchants, enabling millions of Shopify merchants to adopt live and shoppable video with a simple 3-click integration, making livestream shopping capabilities more accessible and useable than ever.
    • New Strategic Partnerships: New and expanded strategic partnerships with Tapcart, Shopify Shop App, Klaviyo, Recharge, and agency networks will expand MARKET.live’s footprint into mobile commerce and high-growth DTC brands.
    • Real-Time Data & Analytics: An intelligent analytics hub will provide in-depth insights into shopper behavior, enabling merchants to refine strategies and boost conversions.

    “The future of commerce is video-first, and this acquisition accelerates that future,” said Maxwell Drut, Co-Founder and CEO of LyveCom and incoming Chief Technology Officer at MARKET.live. “By combining LyveCom’s cutting-edge AI-powered video commerce technology with VERB’s expansive market reach, we are creating one of the most advanced, omnichannel video shopping ecosystems in the U.S. Together, we’re not just enabling brands to sell through video — we’re redefining how consumers discover, engage, and shop in a content-driven world.”

    “Unlike closed marketplaces like Amazon Live and TikTok Shop, MARKET.live + LyveCom offers brands full control over their audience, content, and conversions while leveraging AI to automate and optimize video commerce. This is a paradigm shift in digital retail, empowering brands to sell smarter, faster, and more profitably than ever before. And with over 4 million Shopify merchants actively seeking AI-driven solutions, we believe that the addition of LyveCom’s AI technology, VERB’s MARKET.live is positioned for explosive growth and recurring revenue expansion.”

    “This deal brings together LyveCom’s innovative AI driven video commerce solutions with VERB’s resources and expertise,” said Kevin Gould, founder and CEO of Kombo Ventures and early Lyvecom investor. “I’m incredibly proud that Kombo Ventures helped incubate Lyvecom, and I’m energized by the shared vision to rapidly create the market leader in AI-driven social shopping.”

    Experience the New MARKET.live Interface
    Customers, brands, and retailers can now explore the fully modernized MARKET.live interface at www.MARKET.live. The revamped platform not only aligns seamlessly with the latest trends in social selling, video commerce, and livestream shopping, providing an immersive and interactive shopping experience unlike any other, but also establishes the new paradigm we believe other ecommerce platforms will strive to emulate.

    Comprehensive Go-To-Market Strategy & Client Onboarding 
    With a well-defined and proven go-to-market strategy, as will be evidenced in VERB’s forthcoming Form 10-K filing, VERB’s MARKET.live is set to onboard an additional extensive list of clients, including top agency partners and direct-to-consumer brands. The acquisition strengthens MARKET.live’s ability to cater to a diverse range of businesses, from independent Shopify sellers to enterprise-level brands, ensuring a seamless and scalable transition into AI-powered social commerce.

    Positioning VERB’ MARKET.live as an Industry Leader 
    The completion of this acquisition will establish VERB’s MARKET.live as a definitive leader in livestream and AI-powered social commerce. Unlike competitors that operate within closed marketplaces, MARKET.live will offer a truly integrated, multi-platform solution that:

    • Expands e-commerce opportunities beyond a single channel, increasing brand exposure and sales potential.
    • Unlocks access to Shopify’s vast network of over 4 million merchants looking for AI-powered video commerce solutions.
    • Automates video content production and personalization at scale, driving efficiency and engagement for brands of all sizes.

    Additional features include:

    • AI-Generated Video UGC: A proprietary AI model trained on tens of thousands of video commerce interactions that will automate content creation for brands.
    • AI-Powered: Blending AI-driven personalization, automation, and omnichannel reach, bringing massive 24/7 global scalability to live shopping experiences, MARKET.live will turn video engagement into revenue.
    • AI-Powered Predictive Analytics and Automated Shoppable Content: Intelligent tools designed to optimize merchandising strategies and increase conversion rates.

    “This strategic acquisition underscores VERB’s commitment to constant and continuing innovation, as we seek to shape the future of social commerce and ultimately dominate the landscape,” said Rory J. Cutaia, CEO of VERB. “The addition of LyveCom’s AI-driven video commerce capabilities to the new MARKET.live will offer an unparalleled shopping experience that bridges brands, marketplaces, and social platforms — ensuring that consumers can engage and shop wherever they are.”

    The Future of AI-Powered Livestream Shopping – Here’s What’s Coming 
    This transaction and the work our combined teams have undertaken over the past 9 months has paved the way for our upcoming launch of yet more next generation social commerce capabilities, including:

    • AI Avatar Live Shopping Hosts: This new proprietary technology, already trained on tens of thousands of video commerce videos, has paved the way for the launch of real time AI Avatar hosts, virtually indistinguishable from human hosts, capable of real-time audience engagement.

    According to an October 2024 report published by The Business Research Company, the global social commerce industry is anticipated to experience rapid growth and is projected to surpass $1.29 trillion by 2028 at a CAGR of 13.7%.1 The Company believes that AI-powered social selling is among the fastest-growing segments in e-commerce today.

    With this acquisition, VERB is setting a new industry standard for interactive video-based social commerce, with the goal of ensuring that MARKET.live is the dominant force in this space and the go-to platform for brands looking to future-proof their business with AI-powered video commerce.

    About VERB Technology Company 
    Verb Technology Company, Inc. (NASDAQ: VERB), is the innovative force behind interactive video-based social commerce. The Company’s MARKET.live platform is a multi-vendor, livestream social shopping destination at the forefront of the convergence of ecommerce and entertainment, where brands, retailers, creators, and influencers engage their customers, clients, fans, and followers across multiple social media channels simultaneously. GO FUND YOURSELF!, is a revolutionary interactive social crowd funding platform for public and private companies seeking broad-based exposure across social media channels for their crowd-funded Regulation CF and Regulation A offerings. The platform combines a ground-breaking interactive TV show with MARKET.live’s back-end capabilities allowing viewers to tap, scan or click on their screen to facilitate an investment, in real time, as they watch companies presenting before the show’s panel of “Titans”. Presenting companies that sell consumer products are able to offer their products directly to viewers during the show in real time through shoppable onscreen icons. The Company is headquartered in Las Vegas, NV and operates full-service production and creator studios in Los Alamitos, California.

    FORWARD-LOOKING STATEMENTS  
    This communication contains “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties and include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance, or achievements including the following statements; the transaction closing within the next 60 days, if not sooner; the integration of LyveCom’s AI-driven technology into VERB’s MARKET.live allowing brands and merchants to deliver an omnichannel livestream shopping experience to their customers; the new MARKET.live introducing game-changing innovations; the combination of LyveCom’s cutting-edge AI-powered video commerce technology with Verb’s expansive market reach, creating one of the most advanced, omnichannel video shopping ecosystem in the U.S., redefining how consumers discover, engage, and shop in a content-driven world; the revamped platform establishing the new paradigm other ecommerce platforms will strive to emulate; the completion of the acquisition establishing VERB’s MARKET.live as a definitive leader in livestream and AI-powered social commerce; MARKET.live will offering a truly integrated, multi-platform solution; the addition of LyveCom’s AI-driven video commerce capabilities to the new MARKET.live offering an unparalleled shopping experience that bridges brands, marketplaces, and social platforms — ensuring that consumers can engage and shop wherever they are and ensuring MARKET.live remains the go-to platform for brands looking to future-proof their business with AI-powered video commerce. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the ability to satisfy the closing conditions and consummate the acquisition; the ability of VERB to derive the benefits anticipated from the acquisition including becoming a leader in livestream and AI-powered social commerce and those identified in our filings with the Securities and Exchange Commission (the “SEC”), including our annual, quarterly and current reports filed with the SEC and the risk factors included in our annual report on Form 10-K filed with the SEC on April 1, 2024. Any forward-looking statement made by us herein is based only on information currently available to us and speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future developments or otherwise.

    Investor Relations:
    investors@verb.tech

    1https://www.einpresswire.com/article/754813834/social-commerce-global-market-2024-to-reach-1291-47-billion-by-2028-at-rate-of-13-7

    The MIL Network

  • MIL-OSI: Fintech Cadence and Visa join forces to support payment innovation in Canada

    Source: GlobeNewswire (MIL-OSI)

    MONTREAL, Quebec, March 04, 2025 (GLOBE NEWSWIRE) — Fintech Cadence, Canada’s leading fintech incubator and Visa, a global leader in digital payments, have announced an exciting collaboration to fuel fintech innovation across Canada. Through curated programming, events and education, Visa will support the development of Canadian fintech companies building products and services for the payment and remittance sector.

    In Canada, fintechs are transforming the payments ecosystem and are a vital driver of our economy. Globally, Visa works with more than 2,000 fintechs to solve the greatest challenges within payments and provide them with the expertise needed to navigate the complexities of digital commerce.

    “We are excited about this new collaboration and the trust Visa have put in us,” said Layial El-Hadi, Executive Director at Fintech Cadence. “We have always been strong proponents of fostering collaboration and helping bridge the gap with founders who break the norm daily and provide innovative solutions for Canadian consumers and businesses. Thanks to this collaboration, we are continuing our mission of helping advance the financial system to serve Canadians for the better.”

    Fintech Cadence has been a driving force of innovation within the Canadian fintech landscape for the past eight years. As the largest fintech incubator in the country, the organization has fostered a vibrant community. It focuses on raising awareness about the sector, supporting founders in their early stages and connecting fintechs with the financial industry to promote the sector’s growth.

    “At Visa, we understand the journey of innovation all too well. Like many of these companies, we started with a vision to solve a consumer pain point and now, we are deeply committed to supporting the next generation of innovators,” said Chris Ferron, Vice President of Enablers, Merchants and Fintechs at Visa. “Our work with Fintech Cadence is a testament to this commitment and we are thrilled to collaborate to empower bold ideas and drive meaningful change in the payment space.”

    As part of the overall collaboration, Visa is one of the Champion Sponsors of the 2025 Fintech Drinks Series with the first of 5 events kicking off in Montreal on March 26th, 2025 at Espace CDPQ. Subsequent events will be held in Halifax (May ’25), Calgary (June ’25), Toronto (Sept ’25) and again in Montreal (Nov ’25). Additional information and registration for the events can be found on Fintech Cadence’s website (www.fintechcadence.com/fintech-drinks/) and via their LinkedIn page.

    About Fintech Cadence

    Fintech Cadence is a non-profit organization established in 2017 dedicated to the Canadian fintech community by providing multiple initiatives from coast to coast. Their mission is to advance the financial system for the better through a three-tier mandate of educating fintech talent, supporting early-stage startups, and fostering collaboration amongst Canada’s fintech ecosystem of financial institutions, VCs, incubators, accelerators and universities.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e9f7a86a-8830-46ee-98dc-cd660b7359b2

    The MIL Network

  • MIL-OSI: MoneyHero Introduces Three-Click Travel Insurance Purchase in Singapore

    Source: GlobeNewswire (MIL-OSI)

    SINGAPORE, March 04, 2025 (GLOBE NEWSWIRE) — MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a leading personal finance aggregation and comparison platform, as well as a digital insurance brokerage provider in Greater Southeast Asia, has launched a new three-click travel insurance purchase feature for its members in Singapore. This enhancement allows returning users to instantly purchase travel insurance in just three simple clicks, eliminating the need to repeatedly fill out forms and saving them over 75% of the time typically required for purchasing a travel insurance.

    Frequent travelers often face the hassle of comparing multiple insurance policies before each trip. The new three-click feature simplifies this process, allowing MoneyHero Group members to easily compare travel insurance policies from leading insurers and complete their purchase in three simple clicks – select your preferred policy, review your details, and make payment.

    Faster, Easier, and More Convenient Travel Insurance

    This new feature simplifies the travel insurance experience by allowing MoneyHero Group members to:

            •        Compare real-time quotes from leading insurers

            •        Customize coverage to fit their travel needs

            •        Purchase insurance policies instantly without redirection to third-party sites

            •        Autofill personal details from previous purchases, skipping repetitive form-filling

            •        Receive immediate confirmation and policy issuance

    By integrating this feature with SingSaver membership, MoneyHero provides a seamless experience, making travel insurance purchases as straightforward as booking a flight or hotel online.

    Better for Customers, Stronger for Insurers

    For customers, this means less hassle and faster access to coverage. For insurers, the simplified journey improves conversion rates, increasing policy sales and customer acquisition. MoneyHero has already seen up to 2x higher conversions on end-to-end insurance purchases and expects similar or better results with this new three-click feature.

    Rohith Murthy, CEO of MoneyHero, said:

    “Travelers today seek efficiency and convenience, and they don’t want to waste time filling out the same forms every time they travel. They want a fast, seamless way to compare and purchase insurance with minimal effort. With this launch, we’re saving our members’ time, providing a smarter and more efficient way to purchase travel insurance. Our data indicates that reducing friction leads to higher completion rates for purchases—benefiting both our customers and our insurance partners. This new feature is integral to our commitment to making MoneyHero the go-to destination for digital insurance in the region.”

    Driving Growth in Digital Insurance

    MoneyHero’s insurance business is experiencing significant growth, with revenues from this vertical increasing by 54% year-over-year in the first nine months of 2024. The Company expects further acceleration as it enhances seamless purchase experiences across more insurance categories.

    Currently, MoneyHero’s travel insurance platform supports 11 insurers in Singapore and Hong Kong. Following the success of this new feature, the Company plans to extend three-click purchasing to additional insurance products and markets, further solidifying its position in the digital insurance landscape.

    About MoneyHero Group

    MoneyHero Limited (NASDAQ: MNY) is a market leader in the online personal finance and digital insurance aggregation and comparison sector in Greater Southeast Asia. The Company operates in Singapore, Hong Kong, Taiwan and the Philippines.  Its brand portfolio includes B2C platforms MoneyHero, SingSaver, Money101, Moneymax and Seedly, as well as the B2B platform Creatory.  The Company also retains an equity stake in Malaysian fintech company, Jirnexu Pte. Ltd., parent company of Jirnexu Sdn. Bhd., the operator of RinggitPlus, Malaysia’s largest operating B2C platform. MoneyHero had over 270 commercial partner relationships as at September 30, 2024, and had approximately 7.4 million Monthly Unique Users across its platform for the three months ended September 30, 2024. The Company’s backers include Peter Thiel—co-founder of PayPal, Palantir Technologies, and the Founders Fund—and Hong Kong businessman, Richard Li, the founder and chairman of Pacific Century Group. To learn more about MoneyHero and how the innovative fintech company is driving APAC’s digital economy, please visit www.MoneyHeroGroup.com.

    Forward Looking Statements

    This document includes “forward-looking statements” within the meaning of the United States federal securities laws and also contains certain financial forecasts and projections. All statements other than statements of historical fact contained in this communication, including, but not limited to, statements as to the Group’s growth strategies, future results of operations and financial position, market size, industry trends and growth opportunities, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “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. All forward-looking statements are based upon estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company, which are all subject to change due to various factors including, without limitation, changes in general economic conditions. Any such estimates, assumptions, expectations, forecasts, views or opinions, whether or not identified in this communication, should be regarded as indicative, preliminary and for illustrative purposes only and should not be relied upon as being necessarily indicative of future results. The forward-looking statements and financial forecasts and projections contained in this communication are subject to a number of factors, risks and uncertainties. Potential risks and uncertainties that could cause the actual results to differ materially from those expressed or implied by forward-looking statements include, but are not limited to, changes in business, market, financial, political and legal conditions; the Company’s ability to attract new and retain existing customers in a cost effective manner; competitive pressures in and any disruption to the industries in which the Company and its subsidiaries (the “Group”) operates; the Group’s ability to achieve profitability despite a history of losses; and the Group’s ability to implement its growth strategies and manage its growth; the Group’s ability to meet consumer expectations; the success of the Group’s new product or service offerings; the Group’s ability to attract traffic to its websites; the Group’s internal controls; fluctuations in foreign currency exchange rates; the Group’s ability to raise capital; media coverage of the Group; the Group’s ability to obtain adequate insurance coverage; changes in the regulatory environments (such as anti-trust laws, foreign ownership restrictions and tax regimes) and general economic conditions in the countries in which the Group operates; the Group’s ability to attract and retain management and skilled employees; the impact of the COVID-19 pandemic or any other pandemic on the business of the Group; the success of the Group’s strategic investments and acquisitions, changes in the Group’s relationship with its current customers, suppliers and service providers; disruptions to the Group’s information technology systems and networks; the Group’s ability to grow and protect its brand and the Group’s reputation; the Group’s ability to protect its intellectual property; changes in regulation and other contingencies; the Group’s ability to achieve tax efficiencies of its corporate structure and intercompany arrangements; potential and future litigation that the Group may be involved in; and unanticipated losses, write-downs or write-offs, restructuring and impairment or other charges, taxes or other liabilities that may be incurred or required and technological advancements in the Group’s industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the Company’s annual report for the year ended December 31, 2023 on Form 20-F (File No.: 001-41838), registration statement on Form F-1 (File No.: 333-275205), and other documents to be filed by the Company from time to time with the U.S. Securities and Exchange Commission. 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. In addition, there may be additional risks that the Company currently does not know, or that the Company currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. Forward-looking statements reflect the Company’s expectations, plans, projections or forecasts of future events and view. If any of the risks materialize or the Company’s assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company anticipates that subsequent events and developments may cause their assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, except as required by law. The inclusion of any statement in this document does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this document. Accordingly, undue reliance should not be placed upon the forward-looking statements. In addition, the analyses of the Company contained herein are not, and do not purport to be, appraisals of the securities, assets, or business of the Company.

    For MoneyHero inquiries, please contact:

    Investor Relations:
    MoneyHero IR Team
    IR@MoneyHeroGroup.com

    Media Relations:
    MoneyHero PR Team
    Press@MoneyHeroGroup.com

    The MIL Network

  • MIL-OSI: NowVertical to Attend the 37th Annual ROTH Conference

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, March 04, 2025 (GLOBE NEWSWIRE) — NowVertical Group Inc. (TSXV: NOW) (“NowVertical” or the “Company”), a leading data and AI solutions provider, today announced they will be attending the invite-only 37th Annual ROTH Conference.

    The 37th Annual ROTH Conference will take place on March 16-18, 2025, in Dana Point, CA, bringing together leading institutional investors and high-growth companies across multiple sectors. As a prestigious, invite-only event, the conference provides a valuable platform for innovative companies like NowVertical to engage directly with investors, industry leaders, and analysts. NowVertical’s inclusion in this exclusive event reflects its strong market position and continued growth in AI and data-driven solutions and services.

    The event will consist of 1-on-1 / small group meetings, analyst-selected fireside chats, industry keynotes and panels with executive management attending from approximately 450 private and public companies in a variety of growth sectors including: Business Services, Consumer, Healthcare, Industrial Growth, Insurance, Resources, Sustainability and Technology, Media & Entertainment.

    To learn more and submit a registration request, visit https://ibn.fm/Roth2025Registration

    About NowVertical Group Inc.

    The Company is a global data and analytics company which helps clients transform data into tangible business value with AI, fast. Offering a comprehensive suite of solutions and services the Company enables clients to quickly harness the full potential of their data, driving measurable outcomes and accelerating potential return on investment. Enterprises optimize decision-making, improve operational efficiency, and unlock long-term value from their data using the Company’s AI-Infused first party and third-party technologies. NowVertical is growing organically and through strategic acquisitions. For further details about NowVertical, please visit www.nowvertical.com.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    For more information, visit www.nowvertical.com.

    For further information, please contact:

    Andre Garber, CDO
    IR@nowvertical.com
    T: +1(647)947-0223

    Forward-Looking Statements

    This news release contains forward-looking information and forward-looking information within the meaning of applicable Canadian securities laws (together “forward-looking statements“), including, the alignment of the Company’s leadership and shareholders, and the associated results of the transactions contemplated in this press release on NowVertical’s business, finances and operations. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies, certain of which are unknown. Forward-looking statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the forward-looking statements and the forward-looking statements are not guarantees of future performance. Forward-looking statements are qualified in their entirety by inherent risks and uncertainties, including: adverse market conditions; risks inherent in the data analytics and artificial intelligence sectors in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions or dispositions; that market competition may affect the business, results and financial condition of the Company and other risk factors identified in documents filed by the Company under its profile at www.sedarplus.com, including the Company’s management’s discussion and analysis for the year ended December 31, 2023. Further, these forward-looking statements are made as of the date of this news release and, except as expressly required by applicable law, the Company assumes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    The MIL Network

  • MIL-OSI: Oxbridge / SurancePlus Announces Two RWA Tokenized Reinsurance Offerings for its 2025 – 2026 Season: Targeting Returns of 20% and 42%

    Source: GlobeNewswire (MIL-OSI)

    GRAND CAYMAN, Cayman Islands, March 04, 2025 (GLOBE NEWSWIRE) — Oxbridge Re Holdings Limited (Nasdaq: OXBR) (“Oxbridge Re”), together with its subsidiary SurancePlus, is engaged in the tokenization of Real-World Assets (“RWAs”), initially with tokenized reinsurance securities, and in providing reinsurance solutions to property and casualty insurers in the Gulf Coast region of the United States, today announced the launch of its 2025 tokenized reinsurance offerings.

    For the first time, investors can choose their preferred risk-return profile with two distinct options:

    • EtaCat Re – 20% (Balanced Yield)
    • ZetaCat Re – 42% (High Yield)

    Invest now at SurancePlus.com/invest

    These blockchain-powered offerings open access to an asset class that was previously exclusive to institutional investors and ultra-high-net-worth individuals. Now, a wider range of investors can access SurancePlus’ tokenized reinsurance securities, targeting high-yield returns backed by Real-World Assets (RWAs) through real-world reinsurance contracts.

    How It Works

    Investors in EtaCat Re have a targeted annual return of 20%, while investors in ZetaCat Re have an annual targeted return of 42%.

    Each security-backed token is priced at $10 per share, with funds used to invest in reinsurance contracts. Investors will receive 3.5% APY on their invested funds until contracts go live on June 1, 2025. Returns are then distributed annually based on underwriting performance.

    These tokens provide exposure to RWA-collateralized reinsurance contracts through its licensed Cayman Islands reinsurance entity, Oxbridge Re NS.

    Investment opportunities are available to U.S. investors under SEC Rule 506(c) and to non-U.S. investors under Regulation S of the Securities Act of 1933.

    Jay Madhu, CEO of Oxbridge, commented, “We are excited to launch this year’s offering, especially with the introduction of our balanced-yield, security-backed token, which targets a broader investor base with a projected 20% return. SurancePlus is democratizing an asset class that was once exclusive to high-net-worth individuals, now allowing investors to participate with as little as $5,000.”

    About Oxbridge Re Holdings Limited 

    Oxbridge Re Holdings Limited (NASDAQ: OXBR, OXBRW) (“Oxbridge”) is headquartered in the Cayman Islands. The company offers tokenized Real-World Assets (“RWAs”) as tokenized reinsurance securities and reinsurance business solutions to property and casualty insurers, through its wholly owned subsidiaries SurancePlus Inc., Oxbridge Re NS, and Oxbridge Reinsurance Limited.

    Insurance businesses in the Gulf Coast region of the United States purchase property and casualty reinsurance through our licensed reinsurers Oxbridge Reinsurance Limited and Oxbridge Re NS.

    Our Web3-focused subsidiary, SurancePlus Inc. (“SurancePlus”), has developed the first “on-chain” reinsurance RWA of its kind to be sponsored by a subsidiary of a publicly traded company. By digitizing interests in reinsurance contracts as on-chain RWAs, SurancePlus has democratized the availability of reinsurance as an alternative investment to both U.S. and non-U.S. investors. 

    Company Contact:
    Oxbridge Re Holdings Limited
    Jay Madhu, CEO
    +1 345-749-7570
    jmadhu@oxbridgere.com

    Forward-Looking Statements

    This press release may contain forward-looking statements made pursuant to the Private Securities Litigation Reform Act of 1995. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements are not guarantees of future results and conditions but rather are subject to various risks and uncertainties. A detailed discussion of risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in the section entitled “Risk Factors” contained in our Form 10-K filed with the Securities and Exchange Commission (“SEC”) on 26th March 2024. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition and results of operations. Any forward-looking statements made in this press release speak only as of the date of this press release and, except as required by law, the Company undertakes no obligation to update any forward-looking statement contained in this press release, even if the Company’s expectations or any related events, conditions or circumstances change.

    The MIL Network

  • MIL-OSI: Surfshark makes the Financial Times 1000 Fastest Growing Companies ranking once again

    Source: GlobeNewswire (MIL-OSI)

    Surfshark, the world’s leading provider of online security solutions, is proud to announce its inclusion in the prestigious Financial Times 1000: Europe’s Fastest Growing Companies list for the second year in a row. The company was ranked 43rd in the IT and Software category, highlighting its commitment to innovation and continuous growth.

    The FT 1000, compiled annually by the Financial Times in partnership with Statista, ranks Europe’s fastest-growing companies based on their highest annual revenue growth over the past four years. The ranking is created through extensive research, checking several criteria for inclusion: independence, headquarters in Europe, organic growth, and more.

    “Being recognized in the Financial Times 1000: Europe’s Fastest Growing Companies 2025 ranking is an incredible honour to us,” says Dovydas Godelis, Chief Operations Officer at Surfshark. “This achievement reflects our commitment to deliver top-notch cybersecurity products, empowering everyone to protect their digital lives, regardless of their technical expertise.”

    Founded in 2018 with a team of just 30, Surfshark quickly gained worldwide recognition with its VPN. Today, Surfshark offers a comprehensive suite of online security tools, including Surfshark Antivirus, Alternative ID – an email and personal information masking tool, Surfshark Alert for data leak detection, and Incogni, a personal data removal service.

    “Over the past year, we’ve introduced Alternative Number, a service that lets users mask their real phone numbers to reduce scam and spam calls. We’ve also launched a VPN app for Apple TV and introduced Bypasser feature on iOS, which eliminates the need to manually disconnect the VPN to access IP-sensitive websites or services,” says Dovydas Godelis. “Recognitions like being featured in the FT 1000 list of fastest-growing companies inspire us to keep innovating and delivering top-quality security solutions.” 

    For more information on Surfshark’s accomplishments in 2024, please visit: surfshark.com/media/Surfshark_Annual_Wrap-Up_2024.pdf 

    ABOUT SURSHARK

    Surfshark is a cybersecurity company focused on developing humanized privacy and security solutions. The Surfshark One suite includes one of the very few VPNs audited by independent security experts, an officially certified antivirus, a private search tool, and a data leak alert system. Surfshark is recognized as the Tech Advisor’s Editor’s Choice for 2024. For a closer look at Surfshark in 2024, check our annual wrap-up. For more research projects, visit our research hub at: surfshark.com/research

    Attachment

    The MIL Network

  • MIL-OSI: Beamr Issues Annual CEO Letter to Shareholders: Highlighting 2024 Achievements and 2025 Strategy – Capitalizing on Market Validation

    Source: GlobeNewswire (MIL-OSI)

    In 2025, Beamr plans to leverage the strong market validation it has gained in numerous meetings with prospective customers across key target markets, as well as participation in major events with industry leaders

    Herzliya, Israel, March 04, 2025 (GLOBE NEWSWIRE) — Beamr Imaging Ltd. (NASDAQ: BMR), a leader in video optimization technology and solutions, today issued a Letter to Shareholders from Sharon Carmel, Chief Executive Officer.

    Dear Shareholders:

    As we look toward a promising and exciting year ahead, I am proud to reflect on Beamr’s achievements throughout 2024, including our financial results and strong cash position for 2024, our recent accomplishments so far in Q1 2025, and look forward to our plans for Q2 2025. We believe that during 2025, Beamr will capitalize on the significant validation it has created in 2024 and convert prospects in the sales funnel into significant revenue growth in the next quarters.

    2024 Highlights

    Beamr Cloud and AI workflows

    On February 20, 2024, we launched the Beamr Cloud SaaS solution, which enables high-efficiency, high-quality and scalable video processing at attractive pricing. Our new video cloud service, accelerated by GPUs, offers more capabilities than we initially expected, which include easy and cost-effective video standards modernization from AVC to HEVC and AV1.

    Following the launch of Beamr Cloud, throughout the year, we continued to strengthen our relationships with industry leaders, such as NVIDIA, to highlight the benefits and features of using our technology in real time with AI video workflows.

    In Q2 2024, we successfully executed on our product development plan, and the first AI video capabilities were integrated into Beamr Cloud. The AI video enhancements allow automatic caption and transcription generation for videos in multiple languages. Incorporating these AI features was a first step in augmenting Beamr Cloud with cutting-edge services.

    We incorporated customer feedback by enhancing Beamr Cloud’s core functionality, making it ready for adoption at scale, which includes:

    • Giving users more control over the compression process using custom presets; and   
    • Adding packaging for streaming.

    Furthermore, we plan to continue introducing improvements to Beamr Cloud, making it easier to use and allow customers higher configurability and flexibly using the service.

    Collaborations with Industry Giants

    In 2024, Beamr highlighted its market presence by participating in eight leading trade shows and conferences, including ACM Mile High Video, GTC, NAB, SIGGRAPH, Oracle CloudWorld, IBC ,Demuxed and AWS re:Invent.

    In IBC, Beamr showcased a demo of live video optimization at 4K and up to 60 frames per second (4Kp60). In SIGGRAPH, we presented with Oracle Cloud Infrastructure (OCI) an optimized production of large, high-quality, high-resolution videos rendered from 3D design.

    During these events, Beamr executives delivered high-impact presentations to hundreds of industry professionals, showcasing our innovative technology and expanding SaaS solutions. Furthermore, we held over 100 face-to-face meetings with existing and prospective customers. These efforts focused on differentiating Beamr in the video market and highlighting the value of our high-quality, high-efficiency, GPU-accelerated SaaS offerings to key and prospective customers in emerging markets, such as Media & Entertainment, User-Generated content and Internet-of-Things.

    Oracle Cloud Infrastructure (OCI)

    Beamr Cloud was launched on OCI in June 2024. OCI is the second cloud service that provides to its customers Beamr’s GPU-based video optimization services, following AWS.

    David Hicks, Oracle’s group vice president, Worldwide ISV Cloud Business Development commented: “Beamr’s commitment to innovation with the Oracle Cloud and quality execution helps our mutual customers receive cloud-enabled, automated, and scalable video processing solutions ready to meet critical business needs.”.

    The collaboration with OCI has opened up access to customers of both companies to the newest generation of GPUs, and preliminary testing showed the potential for increased video processing speed by up to 30%. Alongside the enhanced service on a second cloud platform, Beamr has achieved “Powered by Oracle Cloud Expertise” status and was chosen as one of OCI’s AI innovators.

    Fundraising Activities

    Following our initial public offering on Nasdaq in March 2023, in February 2024, we raised gross proceeds of $13.8 million in an underwritten offering. At the end of 2024, we had $16.4 million in cash and cash equivalents.

    2025: Capitalizing on Market Validation and Materializing the Sales Funnel into Significant Revenues

    Market Validation: Amazon Web Services – ISV Accelerate

    In Q1 2025, Beamr joined the AWS ISV Accelerate program, a global co-sell initiative for Amazon Web Services (AWS) partners. As an Independent Software Vendor (ISV) in the program, Beamr demonstrates strong alignment with AWS’s go-to-market strategies and initiatives. Beamr had progressed from listing on AWS Marketplace to becoming an ISV Accelerate Member in just three months.

    In order to achieve the high bar to ISV Accelerate program, Beamr was required to have 10 opportunities with AWS and go through a Foundational Technology Review (FTR), which validates that our solution is well-architected and using best practices specific to our SaaS.

    The AWS ISV program offers key benefits to drive visibility and co-selling opportunities. By joining, Beamr can expand sales operations through the AWS sales organization and the AWS Marketplace, driving increased growth for Beamr Cloud – the video optimization service that is seamlessly connected with AWS S3 cloud storage service. For example, AWS Account Managers are eligible for incentives when selling Beamr Cloud through AWS Marketplace. They also gain exposure to ISVs through solution partner recommendation engines.

    AI Video Webinar

    In January 2025, Beamr hosted a webinar titled: “The Future of AI Video – From Infrastructure to Experience”. The webinar featured Richard Kerris, VP of Media & Entertainment at NVIDIA, Jeffrey Schick, VP Strategic Client Engagement Media & Entertainment at Oracle and myself. The webinar discussed the platforms and technologies that drive the AI video revolution, and explored the opportunities and challenges of AI -powered media content.

    Webinar hosted by Beamr about AI video

    Keynote to Industry Leaders

    In February 2025, Beamr participated in the ACM Mile-High-Video, and I presented a keynote titled: “Is the Future of Video Processing Destined for GPU?”. The ACM Mile-High-Video conference is a flagship video formats and streaming event, held annually in Denver, and organized by engineers and researchers from both industry and academia.

    This month, Beamr will participate in NVIDIA GTC 2025, with my session discussing the evolution of video compression and the ability to efficiently enhance videos with AI-driven capabilities in real-time during video transcoding, utilizing GPU acceleration.

    CEO Sharon Carmel presenting keynote at ACM Mile-High Video 2025

    SaaS planning for 2025 – from Capabilities to Solutions

    In 2025, we plan to introduce more solutions, as part of our evolving strategy – to further develop our technology, enhance Beamr Cloud’s video workflows and introduce more AI-driven capabilities. This is all based on the numerous meetings we have conducted with prospective customers, as well as on the events we held and attended by industry leaders providing valuable feedback.

    The key target markets we are focused on include: 

    • Media & entertainment
    • User-generated content
    • Internet of things – autonomous vehicles, and other machine learning-driven industries; and

    All identified markets that rely on video as a core component of their business operations can benefit from our offering of GPU-accelerated, high-quality and AI-driven video pipelines, whether deployed via cloud platforms, such as AWS and OCI, private cloud environments for enterprises, or on-premises infrastructure.

    In addition, we plan to continue to advancing our core capabilities and maintain leadership in AI video. Some of the planned core capabilities include:

    • Increasing subjective and objective video quality, and
    • Turning lower resolution videos to high resolution videos using super resolution.

    We anticipate a strong year ahead, with expanded participation in top industry events, increased customer and partner collaborations, and a deeper commitment to strategic partnerships.

    In just the first two months of 2025, Beamr has taken its partnership with AWS to the next level, to a co-sale level, has hosted industry leading companies in its own event and has been chosen to present its technology and achievements at leading industry conferences. We believe this validation shows the recognition that Beamr has achieved in the market.

    The plan for the upcoming quarters and the rest of 2025 is to capitalize on the strong industry recognition and sales pipeline that we have been developing, and we are expecting significant growth in our revenues in 2025 from our existing sales funnel.

    2024 Financial Results

    Regarding our financial results for 2024:

    • Revenues increased by $0.15 million or 5% to $3.06 million for the year ended December 31, 2024, from $2.9 million for the year ended December 31, 2023. The increase was primarily due to transactions with new customers versus other transactions that were terminated.
    • Cost of revenues increased by $0.14 million to $0.24 million the year ended December 31, 2024, compared to $0.1 million for the year ended December 31, 2023. The increase was primarily due to the amortization of internal-used software costs.
    • Research and development expenses increased by $1.06 million, or 58% to $2.9 million for the year ended December 31, 2024, from $1.8 million for the year ended December 31, 2023. The increase was primarily due to an increase of $0.4 million in salaries, due to increased personnel and an increase of $0.48 million in professional fees due to additional sub-contractors and cloud costs.
    • Selling and marketing expenses increased by $0.31 million, or 88% to $0.67 million for the year ended December 31, 2024, from $0.36 million in 2023. The increase was primarily due to an increase in personnel and an increase in conference costs.
    • General and administrative expenses increased by $0.96 million, or 64% to $2.4 million for the year ended December 31, 2024, from $1.5 million in 2023. The increase was primarily due to increased personnel, increase in professional fees related to public company requirements and increased travel expenses to conferences.
    • Financing expenses, net decreased by $0.3 million, or 141% to ($0.09) million for the year ended December 31, 2024, from $(0.2) million in 2023. The decrease was primarily due to changes in fair value of liabilities offset by interest income on bank deposits.
    • Net loss for the year ended December 31, 2024 was $3.3 million or $0.22 basic net loss per ordinary share, compared to a net loss of $0.7 million, or $0.06 basic net loss per ordinary share, in the year ended December 31, 2023.
    • Beamr ended 2024 with $16.4 million in cash and cash equivalents, compared to $6.1 million as of December 31, 2023.

    In closing, 2024 represented a year of significant progress for Beamr as we executed on our plan by releasing and upgrading Beamr Cloud with AI video processes and workflows, participating in top industry events and increasing our customer and partner collaborations. Importantly, with our cash position at the end of 2024, we continue to have the financial flexibility to both accelerate the growth of our existing business and pursue compelling business development opportunities, a process we are actively engaged in.

    Respectfully,

    Sharon Carmel
    Chief Executive Officer, Beamr Imaging Ltd.

    A copy of Beamr’s annual report on Form 20-F for the year ended December 31, 2024 has been filed with the U.S. Securities and Exchange Commission at https://www.sec.gov/ and posted on Beamr’s investor relations website at https://www.investors.beamr.com/. Beamr will deliver a hard copy of its annual report, including its complete audited consolidated financial statements, free of charge, to its shareholders upon request at investorrelations@beamr.com.

    About Beamr

    Beamr (Nasdaq: BMR) is a world leader in content-adaptive video optimization and modernization. The company serves top media companies like Netflix and Paramount. Beamr’s inventive perceptual optimization technology (CABR) is backed by 53 patents and won the Emmy® award for Technology and Engineering. The innovative technology reduces video file size by up to 50% while guaranteeing quality.

    Beamr Cloud is a high-performance, GPU-based video optimization and modernization service designed for businesses and video professionals across diverse industries. It is conveniently available to Amazon Web Services (AWS) and Oracle Cloud Infrastructure (OCI) customers. Beamr Cloud enables video modernization to advanced formats such as AV1 and HEVC, and is ready for video AI workflows. For more details, please visit www.beamr.com

    Forward-Looking Statements

    This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. Forward-looking statements in this communication may include, among other things, statements about Beamr’s strategic and business plans, technology, relationships, objectives and expectations for its business, the impact of trends on and interest in its business, intellectual property or product and its future results, operations and financial performance and condition, including its expectations for significant revenue growth in 2025. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” “will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company’s reports filed from time to time with the Securities and Exchange Commission (“SEC”), including, but not limited to, the risks detailed in the Company’s annual report filed with the SEC on March 4, 2025 and in subsequent filings with the SEC. Forward-looking statements contained in this announcement are made as of the date hereof and the Company undertakes no duty to update such information except as required under applicable law. investorrelations@beamr.com

    Investor Contact:

    investorrelations@beamr.com

    The MIL Network

  • MIL-OSI: Bitfarms Announces Participation in Upcoming Investor and Industry Conferences

    Source: GlobeNewswire (MIL-OSI)

    TORONTO, Ontario, March 04, 2025 (GLOBE NEWSWIRE) — Bitfarms Ltd. (NASDAQ/TSX: BITF), a global Bitcoin and vertically integrated data center company, today announced its participation in three upcoming investor and industry conferences.

    Investor Event Details:

    Event: Cantor Fitzgerald Global Technology Conference
    Date: March 12, 2025
    Location: New York, NY
    Bitfarms Participants: Ben Gagnon (CEO), Jeff Lucas (CFO), Tracy Krumme (SVP, IR & Comms)
    Panel Time: 3:40pm-4:05pm ET
    Panel Title: “Hybrid Model for Bitcoin Mining & AI”; CEO Ben Gagnon to participate

    Event: 37th Annual ROTH Conference
    Date: March 17-18, 2025
    Location: Dana Point, CA
    Bitfarms Participants: Liam Wilson (COO), Jeff Lucas (CFO), Tracy Krumme (SVP, IR & Comms)

    Industry Event Details:

    Event: NVIDIA GTC 2025
    Date: March 17-21, 2025
    Location: San Jose, CA
    Bitfarms Participants: Liam Wilson (COO), Philippe Fortier (EVP, Corporate Development), Alex Brammer (SVP, Mining Operations), Craig Hibbard (SVP, Infrastructure)

    For additional information or to schedule 1×1 meetings at any of the above conferences, please reach out to investors@bitfarms.com.

    About Bitfarms Ltd.

    Founded in 2017, Bitfarms is a global vertically integrated Bitcoin data center company that sells its computational power to one or more mining pools from which it receives payment in Bitcoin. Bitfarms develops, owns, and operates vertically integrated mining facilities with in-house management and company-owned electrical engineering, installation service, and multiple onsite technical repair centers.

    Bitfarms currently has 13 operating Bitcoin data centers, as well as hosting agreements with two data centers, in four countries: Canada, the United States, Paraguay, and Argentina. Powered predominantly by environmentally friendly hydro-electric and long-term power contracts, Bitfarms is committed to using sustainable and often underutilized energy infrastructure.

    To learn more about Bitfarms’ events, developments, and online communities:

    www.bitfarms.com
    https://www.facebook.com/bitfarms/
    https://twitter.com/Bitfarms_io
    https://www.instagram.com/bitfarms/
    https://www.linkedin.com/company/bitfarms/

    Investor Relations Contact:

    Bitfarms
    Tracy Krumme
    SVP, Head of IR & Corp. Comms.
    +1 786-671-5638
    tkrumme@bitfarms.com

    Media Contact: 

    Bitfarms
    Caroline Brady Baker 
    Director, Communications
    cbaker@bitfarms.com 

    The MIL Network

  • MIL-OSI: Aviva Canada: New data shows staggering rise in fraud across the country as Fraud Prevention Month kicks off

    Source: GlobeNewswire (MIL-OSI)

    • Aviva Canada data reveals a 76% rise in claim fraud investigations in 2024.
    • Auto-related incidents accounted for 67% of all claim fraud investigations during the past year.
    • Bad actors are capitalizing on Artificial Intelligence (AI) and technology for their malicious activities and Canadians are urged to keep vigilant.

    TORONTO, March 04, 2025 (GLOBE NEWSWIRE) — From auto theft to AI-generated documents and beyond, fraud continues to be one of the more pressing issues facing Canadian consumers and businesses in 2025.

    As Fraud Prevention Month kicks off, new data from Aviva Canada has revealed a 46% increase in claim fraud detection – and a staggering 76% rise in fraud investigations – in 2024. Auto-related incidents alone accounted for two-thirds (67%) of all claim fraud investigations during the past year. Advancements in AI and its use by individuals to falsify information are expected to be on the rise in 2025.

    “People are getting more sophisticated and innovative in their approaches when engaging in potentially fraudulent activity, making it increasingly difficult for the average Canadian to spot,” says Jamie Lee, Head of Financial Crime and Fraud, Aviva Canada. “Insurance fraud costs Canadians $1 billion per year in added premiums. It’s vital for Canadians to stay educated on the rising trends to better protect themselves.”

    Five Emerging Fraud Trends to Watch in 2025
    The methods used by bad actors are constantly evolving, so it’s important for Canadians to stay current on emerging trends. Aviva Canada’s data shows five types of fraud that are growing in the Canadian market:

    • Vehicle Theft and ReVINing – Vehicle thefts remain above pre-pandemic levels, with a 58% increase in investigations in the latter half of 2024. Stolen vehicles are often shipped overseas, or their VIN numbers altered and resold to unsuspecting Canadian buyers with false documentation. With the tightening of Canada-US borders, more stolen vehicles could remain in Canada, increasing the likelihood of Canadians buying a stolen vehicle from online public marketplaces.
    • Staged Auto Accidents – Increasing in numbers and complexity, staging false auto accidents is a trend on the rise across Canada. Aviva Canada saw a 47% increase in the number of staged accidents caught in Q4 2024. This type of scam could be linked to organized crime groups operating in Canada.
    • AI-Enabled Falsified or Forged Documents – The use of technology AI to edit or falsify documents is increasingly evident in investigations. This technology is frequently seen in both staged claims and opportunistic fraud, where it is used to create false claims or inflate legitimate claims, such as personal and commercial property contents claims, by supporting them with false invoices.
    • Ghost Brokers – People posing as licensed insurance brokers to sell fake policies or manipulate information to secure lower premiums is a growing concern in Canada, often leaving unsuspecting consumers without valid coverage. Consumers should be extra vigilant when purchasing insurance. They are encouraged to check their provincial registries to ensure the person they’re dealing with is properly licensed and confirm proof of insurance directly with the insurer.
    • Policy Misrepresentation – Individuals may misrepresent or omit key information from their insurance policies such as their true address, the intended use of a vehicle or property, or not disclosing major construction or renovations being done. These incidents can unfortunately lead to honest customers paying disproportionately higher premiums.

    “Fraud impacts Canadians not only financially, but also mentally and emotionally,” adds Lee. “Fraud costs everyone and drives up insurance premiums. At Aviva Canada, we are continuing to work with law enforcement and industry stakeholders to better protect Canadians from fraud.”

    For tips and more information on how to protect yourself or to report fraud, you can visit Aviva Canada’s Fraud Hub.

    Media Contact:
    Kelsie Ludlow
    Communications Specialist
    Tel: 437-331-7209
    Email: Kelsie.ludlow@aviva.com

    About Aviva Canada

    Aviva Canada is one of the leading property and casualty insurance groups in the country, providing home, automobile, lifestyle, and business insurance to 2.5 million customers coast to coast. A subsidiary of UK-based Aviva plc, we have the financial strength, scale and are a trusted insurance provider globally for more than 325 years.

    For more information, visit aviva.ca or Aviva Canada’s blogLinkedIn and Instagram pages.

    The MIL Network

  • MIL-OSI United Kingdom: Public urged to reduce their electrical waste to mark NI Repair Week

    Source: Northern Ireland – City of Derry

    Public urged to reduce their electrical waste to mark NI Repair Week

    4 March 2025

    Derry City and Strabane District Council and Repair and Share Foyle are highlighting ways to repair household electrical items and keep them out of landfill as part of NI Repair Week.

    Events, workshops and tutorials are being hosted across Northern Ireland to celebrate Repair Week from March 3rd to 9th and encourage people to consider repairing their old items and learning the skills needed to do it.

    Locally, a repair cafe will be held this weekend at the Repair and Share Foyle Headquarters in Rathmore Business Park.

    A successful repair café event also took place at the weekend in Strabane’s Fountain Centre.

    Mayor of Derry City and Strabane District Council, Councillor Lilian Seenoi-Barr, urged the public to consider ways they can reduce their own electrical waste.

    “Electrical waste is the fastest growing waste stream in the world,” she noted. “Many household items such as handheld fans, electric toothbrushes, smart phones, TVs and white goods are presenting longevity and repairability challenges.

    “Many of these items can be repaired or used for parts which keeps them in use for longer rather than committing them to landfill.

    “The workshops being hosted locally this week are an opportunity to learn more about safely repairing some of those items which can benefit the environment and your pocket by saving you money on purchasing replacement items.”

    Repair and Share Foyle launched their first repair café in 2022 and are led almost entirely by volunteers.

    They have embraced waste head on by sharing skills and resources in the community, including the North West’s first tools and equipment library the ‘Library of Things’.

    The group accept donations of small working household electricals for their ‘rehome your electricals’ campaign and encourage community groups to sign up as redistribution partners.

    In addition to small household electricals, Repair and Share Foyle’s in-house ‘Laptop Doctors’ have been collecting unwanted laptops from drop-off points across the district.

    The laptops are professionally wiped of data before being given a new lease of life and a new battery or charger.

    Caroline McGuinness-Brooks, Managing Director, explained more about their service: “If you or someone in your community is in need of say a kettle, a lamp, a hoover, your local community organisation can make a request to us for a donation of such an item if we have it in stock,” she said.

    “Anything with a plug, battery, or cable can and should be recycled.

    “Donated items can be dropped off to our workshop at the RathMor Business Park Monday through to Saturday or during Repair Café events.”

    To learn more and stay up to date with Repair and Share Foyle, you can subscribe to their e-newsletter via their website at linktr.ee/repairandsharefoyle

    The Repair Cafe will take place this Saturday March 8th at Repair and Share’s premises in Rathmore from 10.30am to 12.30pm.

    Items that can be fixed include small household electricals, laptops, textiles and leather, toys, sewing machines and small pieces of furniture.

    Unwanted laptops can be dropped off at the Foyle Hospice Furniture Outlet, the Guildhall, Eglinton Community Centre, Waterside Shared Village, Strahans Road Recycling Centre and the Alley Theatre.

    Full details about how NI Repair Week is being marked locally are available at derrystrabane.com/repair.

    MIL OSI United Kingdom

  • MIL-OSI: Radware to Host its Hackers Challenge in Peru

    Source: GlobeNewswire (MIL-OSI)

    MAHWAH, N.J., March 04, 2025 (GLOBE NEWSWIRE) — Radware® (NASDAQ: RDWR), a global leader in application security and delivery solutions for multi-cloud environments, announced it is holding its Hackers Challenge on March 13, 2025, in Lima, Peru at the Westin Lima Hotel and Convention Center. The flagship event, which brings together global security and technology experts from the private and public sector, will combine learning, collaboration and innovation to help companies solve their most pressing cybersecurity issues.

    According to Piero Garmendia, Radware’s regional manager for the South of Latin America region, “Radware’s Hackers Challenge offers organizations a unique opportunity to watch hackers in live action and then apply that learning in strengthening their own cyber defense strategies. We are convinced the simulation will serve as a key platform to inspire ideas and prepare security professionals for the cyber challenges of the future.”

    During the event, hackers will go head-to-head with Radware’s security experts and web application and API protection defenses, trying to breach protected web applications by circumventing tools designed to block their malicious attempts. While witnessing the hackers’ techniques, the live audience will learn corresponding protection strategies.

    In addition, participants will learn how artificial intelligence can be used to manage security vulnerabilities across corporate networks. They also will get firsthand insights from a panel of cybersecurity and digital transformation experts representing government offices and leading financial institutions from Peru as well as an international embassy.

    “In a world that is becoming more inter-connected, cybersecurity is a fundamental pillar for progress,” said Arie Simchis, Radware’s regional director in Latin America. “Our event reflects Radware’s leadership and ongoing commitment to cybersecurity innovation in the region. Operating for nearly 20 years in Latin America, we intend to continue to play a major role in strengthening cybersecurity capabilities and increasing technological resilience across the region.”

    Radware’s Latin American presence spans Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Mexico, Panama, and Peru. In addition, the company has cloud security service centers in Chile and Brazil. The Latin American facilities are part of Radware’s worldwide network of over 50 cloud security service centers, which offer a combined mitigation capacity of 15Tbps. The company plans to continue to grow its global footprint, opening more cloud security service centers in 2025.

    Visit Radware’s Hackers Challenge website for more information.

    About Radware
    Radware® (NASDAQ: RDWR) is a global leader in application security and delivery solutions for multi-cloud environments. The company’s cloud application, infrastructure, and API security solutions use AI-driven algorithms for precise, hands-free, real-time protection from the most sophisticated web, application, and DDoS attacks, API abuse, and bad bots. Enterprises and carriers worldwide rely on Radware’s solutions to address evolving cybersecurity challenges and protect their brands and business operations while reducing costs. For more information, please visit the Radware website.

    Radware encourages you to join our community and follow us on: Facebook, LinkedIn, Radware Blog, X, YouTube, and Radware Mobile for iOS.

    ©2025 Radware Ltd. All rights reserved. Any Radware products and solutions mentioned in this press release are protected by trademarks, patents, and pending patent applications of Radware in the U.S. and other countries. For more details, please see: https://www.radware.com/LegalNotice/. All other trademarks and names are property of their respective owners.

    Radware believes the information in this document is accurate in all material respects as of its publication date. However, the information is provided without any express, statutory, or implied warranties and is subject to change without notice.

    The contents of any website or hyperlinks mentioned in this press release are for informational purposes and the contents thereof are not part of this press release.

    Safe Harbor Statement
    This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements made herein that are not statements of historical fact, including statements about Radware’s plans, outlook, beliefs, or opinions, are forward-looking statements. Generally, forward-looking statements may be identified by words such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “plans,” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may,” and “could.” For example, when we say in this press release that we intend to continue to play a major role in strengthening cybersecurity capabilities and increasing technological resilience across the region, we are using forward-looking statements. Because such statements deal with future events, they are subject to various risks and uncertainties, and actual results, expressed or implied by such forward-looking statements, could differ materially from Radware’s current forecasts and estimates. Factors that could cause or contribute to such differences include, but are not limited to: the impact of global economic conditions, including as a result of the state of war declared in Israel in October 2023 and instability in the Middle East, the war in Ukraine, and the tensions between China and Taiwan; our dependence on independent distributors to sell our products; our ability to manage our anticipated growth effectively; a shortage of components or manufacturing capacity could cause a delay in our ability to fulfill orders or increase our manufacturing costs; our business may be affected by sanctions, export controls, and similar measures, targeting Russia and other countries and territories, as well as other responses to Russia’s military conflict in Ukraine, including indefinite suspension of operations in Russia and dealings with Russian entities by many multi-national businesses across a variety of industries; the ability of vendors to provide our hardware platforms and components for the manufacture of our products; our ability to attract, train, and retain highly qualified personnel; intense competition in the market for cyber security and application delivery solutions and in our industry in general, and changes in the competitive landscape; our ability to develop new solutions and enhance existing solutions; the impact to our reputation and business in the event of real or perceived shortcomings, defects, or vulnerabilities in our solutions, if our end-users experience security breaches, if our information technology systems and data, or those of our service providers and other contractors, are compromised by cyber-attackers or other malicious actors or by a critical system failure; outages, interruptions, or delays in hosting services; the risks associated with our global operations, such as difficulties and costs of staffing and managing foreign operations, compliance costs arising from host country laws or regulations, partial or total expropriation, export duties and quotas, local tax exposure, economic or political instability, including as a result of insurrection, war, natural disasters, and major environmental, climate, or public health concerns, such as the COVID-19 pandemic; our net losses in the past two years and possibility we may incur losses in the future; a slowdown in the growth of the cyber security and application delivery solutions market or in the development of the market for our cloud-based solutions; long sales cycles for our solutions; risks and uncertainties relating to acquisitions or other investments; risks associated with doing business in countries with a history of corruption or with foreign governments; changes in foreign currency exchange rates; risks associated with undetected defects or errors in our products; our ability to protect our proprietary technology; intellectual property infringement claims made by third parties; laws, regulations, and industry standards affecting our business; compliance with open source and third-party licenses; and other factors and risks over which we may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Radware, refer to Radware’s Annual Report on Form 20-F, filed with the Securities and Exchange Commission (SEC), and the other risk factors discussed from time to time by Radware in reports filed with, or furnished to, the SEC. Forward-looking statements speak only as of the date on which they are made and, except as required by applicable law, Radware undertakes no commitment to revise or update any forward-looking statement in order to reflect events or circumstances after the date any such statement is made. Radware’s public filings are available from the SEC’s website at www.sec.gov or may be obtained on Radware’s website at www.radware.com.

    Media Contacts:
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    Radware
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    The MIL Network

  • MIL-OSI USA: Sols 4468-4470: A Wintry Mix of Mars Science

    Source: NASA

    Written by Lucy Lim, Planetary Scientist at NASA’s Goddard Space Flight Center

    Earth planning date: Friday, Feb. 28, 2025
    Curiosity continues to climb roughly southward through the layered sulfate strata toward the “boxwork” features. Although the previous plan’s drive successfully advanced the rover roughly 21 meters southward (about 69 feet), the drive had ended with an awkwardly perched wheel. Because of this, unfortunately it was considered too risky to unstow the arm for contact science in this plan.
    Nevertheless the team made the most of the imaging and LIBS observations available from the rover’s current location. A large Mastcam mosaic was planned on the nearby Texoli butte to capture its sedimentary structures from the rover’s new perspective. Toward the west, the boxwork strata exposed on “Gould Mesa” were observed using the ChemCam long-distance imaging capability, with Mastcam providing color context.
    Several near-field Mastcam mosaics also captured some bedding and diagenetic structure in the nearby blocks as well as some modern aeolian troughs in the finer-grained material around them.
    On the nearby blocks, two representative local blocks (“Gabrelino Trail” and “Sespe Creek”) are to be “zapped” with the ChemCam laser to give us LIBS (laser-induced breakdown spectroscopy) compositional measurements. The original Gabrelino Trail on Earth near the JPL campus is currently closed due to damage from the recent wildfires.
    Meanwhile, the season on Mars (L_s ~ 50, or a solar longitude of about 50 degrees, heading into southern winter) has brought with it the opportunity to observe some recurring atmospheric phenomena: It’s aphelion cloud belt season, as well as Hadley cell transition season, during which a more southerly air mass crosses over Gale Crater. 
    This plan includes an APXS atmospheric observation (no arm movement required!) to measure argon and a ChemCam passive-sky observation to measure O2, which is a small (less than 1%) but measurable component in the Martian atmosphere. Dedicated cloud altitude observations, a phase function sky survey, and zenith and suprahorizon movies have also been included in the plan to characterize the clouds. As usual, the rover also continues to monitor the modern environment with measurements of atmospheric opacity via imaging, temperature, and humidity with REMS, and the local neutron environment with DAN.

    MIL OSI USA News

  • MIL-OSI USA: Interview with Sean Colgan

    Source: NASA

    I’m really pleased that you agreed to take advantage of this opportunity.  I don’t recall if I have actually met you personally,  but if so, then I apologize for not remembering.

    I don’t think so, although you’ve certainly signed things for me.

    Well, I guess I have because I do remember seeing your name from time to time on various things. You’ve been at Ames a long time and we’ll have you talk about that in a little bit. The focus of these interviews is not specifically on your work. In fact, it was intended to broaden people’s understanding of who you are and what you do when you’re not at work, because we get compartmentalized and mostly get to know people through our work interactions, so we’ll be touching on your other interests. As you’ve seen if you’ve read some of these, we generally start with your childhood. I try to look up bios and things like that ahead of time to see what I can glean before these interviews but you don’t have a very substantial presence on the web.

    I’m not a very public person.

    I did find that out (laughs).

    I did not volunteer for these and I tried to lay low until you hunted me down! (laughs)

    Well, I think you’ll be pleased and as I said, you can stay as private as you want during this whole interview.

    Sounds good.

    We like to start with where you were born, your family at the time, what your parents did, if you have siblings, and then we ask when became aware of or developed an interest in what you have pursued as a career.

    OK, and I’m going to be looking sideways at my notes because I printed out your list of questions and thought about them. Hopefully I won’t mess it up too much. I’m a big believer in the written word. I was born in Oakland, just up the Bay.

    So was I, so we have a connection right there!

    Up through my preteen years I grew up split between Oakland and North Lake Tahoe. My dad was a masonry contractor. When school got out in June we would go up to Tahoe where there was lots of work for him, building foundations for homes and so forth. When Christmas break came in school, we came back down to Oakland. We had a home in both places and dad could get work in the winter in the Bay Area. In the middle of every year during my preteen years, I switched between two schools. It was usually a bit of a jolt because the Oakland schools were ahead of the Tahoe schools, so there were a couple weeks of flailing about in January trying to catch up. They all used the same textbooks, but we were a couple of chapters behind at that point and had to catch up.

    When I was 12, Dad had established his business well enough at Tahoe that my parents sold both of the houses, built a somewhat bigger one, and we moved to Tahoe permanently. So from seventh grade through high school it was all at the northern end of Lake Tahoe.

    I have one sibling, a brother.

    And when did I start thinking about becoming an astronomer? I can’t remember exactly, to be perfectly honest. I do remember my parents showing me the constellations. I can remember specifically which constellations my dad showed me and which ones my mom showed me. I can’t remember a time when I wasn’t interested primarily in being an astronomer, but I probably went through an astronaut phase because it was the ‘60’s!  I got an astronomy book for my birthday one year and I know it was before I could really read and understand it. I remember looking at the pictures. In thinking about this interview, I went back and looked.  That book was published when I was five, so probably by the time I was five I was talking about it enough that I got this book for my birthday. I don’t have any similar books on other topics from that time. All the other books I have from back then are astronomy books for kids.

    Well, you were living in Lake Tahoe, which by the elevation and the clarity and lack of ambient lights around you would have had a really good view of the stars and constellations.

    Right. It was great. Although before we moved up there full time we were mostly there in the summer, so it didn’t get dark until after my bedtime.  When we moved up there full time, then I could go out in the winter and yeah, we had a spectacular view of the southern sky. There were woods but we could see over the trees. We could see the center of the Milky Way, and so forth. I had binoculars and a couple of small telescopes that I’d use, along with a star atlas to point me toward interesting things to look at.

    Did you say what your mother did? Did she work outside the home?

    Mom was a writer.  We traveled each year when we were growing up. She would write travelogues of those trips and try to get them published. She also wrote haiku poetry, and she tried her hand at writing other things. She was published a bit, but not a whole lot. Mom did get one of her travelogues published in the Christian Science Monitor. That was a highlight for her.

    And was your brother older or younger?

    My brother is two years younger, and we had somewhat similar trajectories.  We’ll get to education later but he majored in physics as well. He followed me in similar universities, but ended up going into material sciences. He is now on the East Coast working for IBM.

    That’s great.

    He was named a Master Inventor in 2018.

    A what?

    A Master Inventor. He has over 200 patents, so IBM honored him with this title.

    That’s quite an honor!  Your education was interesting because of the split between the two schools.  But then at some point, when you went to college, you had to declare a major. You said you had already developed an interest in astronomy, so did you pursue that science discipline right off the bat?

    I went to UC Riverside for two years, and then I transferred to Caltech. My freshman year  I really nailed down my choice for astronomy. I remember going to the Career Center and taking an interest survey, which has nothing to do with what you’re able to do. It just asks what you’re interested in doing, and it came up as physicist or musician.  I have no musical skills so that pointed me in the other direction. I thought briefly about geology, since my dad had been a geology major, but I really settled on astronomy at that point, which is why I transferred. Riverside didn’t have an astronomy major,  they only had a physics major. I really wanted to get an astronomy background and start on it early.

    My time at Caltech was probably the toughest two years I’ve ever had. I was behind because I had gone to Riverside for two years and the Caltech student body was extremely competitive. Caltech was not generous with their transfer credits. I ended up taking a very heavy course load, but I did make it out in two years. From there I applied to a number of grad schools. I settled on Cornell for a couple reasons: First of all because they had groups working in the areas  of astronomy I thought I was interested in, which were radio and infrared. Second of all, after four years in southern California I really wanted to go to a more rural setting to continue my education.

    I have to ask this because when we’ve interviewed others who have gone to Cornell, most of them have mentioned the influence of Carl Sagan and I just wondered if that figured into your choice, or was he gone by the time you went there?

    Well, I  did meet Carl, at a second year reception he threw for the grad students.  He was gone most of my first year working on Cosmos the television show. He had taken a leave of absence and wasn’t around. When he came back he threw a reception for all of us, and I got to shake his hand. He was a planetary scientist, of course, and that was not where I was aiming my trajectory.  I didn’t see him a whole lot other than that one reception. Although from time to time the kind of people you really don’t want wandering around the halls would come around the building looking for Carl Sagan. Security would chase them down and get them out. These are really my most distinct memories of Carl.

    And your PhD was in astronomy, not physics?

    It was in astronomy and my dissertation was on radio astronomy. I did it almost exclusively at Arecibo (Arecibo Observatory, National Astronomy and Ionosphere Center, Arecibo, Puerto Rico) with a little bit at the VLA (Very Large Array Radio Telescope facility, near Socorro, New Mexico). I got to work with some really smart people at Cornell, observational and theoretical.

    At this point we usually inquire about the connection or the influence, that brought you from your PhD to NASA Ames.

    My degree was in radio astronomy but the other interest I always had along the way, which I hadn’t been able to look into, was infrared astronomy. Getting post docs is very competitive, back then we called them NRC’s. The NRC offer from Ed Erickson’s group at Ames was the best offer, so I came out for that. It wasn’t a sure thing, there was back and forth and the highest rated candidate had to turn down the job before they would make me an offer.  But fortunately for me the highest rated candidate was my office mate at Cornell. I knew he was going to turn down the offer as soon as he got another one he wanted, so I was aware a little bit in advance of getting the call from Ed that things had worked out.

    And Ed was your advisor?

    Ed was my advisor. So I came and did two years as an NRC and then continued working with the group. I had made myself sufficiently useful that when I was ready to apply for other jobs, Ed offered me a raise if I’d stay with the group and continue working. That was a really good time. We flew on the KAO (Kuiper Airborne Observatory). They didn’t really have facility instruments, so we had our own instrument, but we did support observers from outside our group. We probably had more flights than any other instrument on the KAO during that period. It was a lot of flights. We had to operate it ourselves. All of us had our own particular jobs on flights. We did everything from prepping for the observations, writing proposals, all the way through to seeing them published. We were a small team: Ed Erickson, Mike Haas; Jan Simpson, and Bob Rubin on the science side helped out. We had a shop guy, Gene Beckstrom, and others after him.  We had a lab technician, Jim Baltz. Dave Hollenbach would also work with us, and that was very rewarding. He was a very sharp guy in terms of theory, ideas and projects to do. Here is a photo of some of us with our instrument rack getting ready for a KAO flight:

    So you came in on an NRC postdoctoral fellowship in the mid-‘80’s?

    Yes, I started on October 6th, 1986.

    And your first work was on the KAO and then probably a decade later you continued on SOFIA (Stratospheric Observatory for Infrared Astronomy)?

    It was ‘95 or ‘96 when they shut down the KAO to use the funding for SOFIA development. I remember the meeting still. It was in the upstairs auditorium and they came in and announced they were shutting the KAO down. I think it was Dave Morrison, who was the division chief, who told us not to whine about shutting it down because planetary missions sometimes had years when they didn’t have their facilities. In this case it was only going to be two years and we would be up and flying in 1997. Of course, as we know, it was more like ten years after that before we were even close to flying.

    Yes, I thought the same thing, that it was not going to be two years. It always takes longer than that.

    Well, I don’t think anybody thought it was going to be as many years as it was.

    But you flew on both the KAO and SOFIA?

    I had ninety nine flights on the Kuiper (KAO) because I kept track of them, and on SOFIA I had two flights, so I was not a flyer on SOFIA. It was more of a facility observatory, and the people who flew a lot were really part of the observatory. They were operating the telescope or operating a science instrument. My flights on SOFIA were because I had written some software for the GREAT Instrument (German Receiver for Astronomy at Terahertz Frequencies, a modular dual-color heterodyne instrument for high-resolution far-infrared spectroscopy) to help them interface with SOFIA. I was along on  those commissioning flights for GREAT in case my software broke. They wanted me on board. Interestingly by the rules at the time, I wouldn’t be allowed to actually fix the software in flight because it was flight software and had to go through all the reviews. None of the people who could do the reviews were on the airplane, but I could see how it broke and maybe I could suggest workarounds. It was not nearly as much fun for me as the KAO. I didn’t really have a job. The software had issues from time to time, but it basically worked. Everybody else had jobs, so for me it was less interesting, which is why I didn’t make a huge effort to keep flying on SOFIA.

    Did you stay on the SOFIA project as a somewhat non flying support person?

    Yes, from when the Kuiper stopped flying until about, well now, my primary work on SOFIA has been first with the project science team during development – trying to make sure they met our requirements, helping everybody understand our requirements, trying to make sure they weren’t making any huge mistakes. They made them anyway, especially when they didn’t listen to us, but we did our best. During the early years of SOFIA, I was also on the Ames team developing AIRES – a facility Science Instrument for SOFIA. I led the software effort, but the development was canceled in 2001. I then got involved with the software that people would use to propose to SOFIA, the proposal software, the software to estimate how long you should be asking for time, the sensitivity of the instruments, pieces of software like that. I worked with Dave Goorvich. We got software from other observatories as starting points and then modified them for SOFIA, software “re-use” they called it. And that was basically my main job throughout SOFIA’s lifetime. Once we developed those, the USRA (Universities Space Research Association) folks built their team around maintaining them and I joined that team because I’d been working on this software for so long. I also got into the package I mentioned to help GREAT interface to SOFIA. It basically made SOFIA look like the telescope that the GREAT team had been using for years, an observatory called KOSMA. We called it the translator and it translated KOSMA commands into SOFIA commands; then SOFIA housekeeping back into KOSMA housekeeping, so they didn’t need to change their software to work with SOFIA. As the aircraft started flying, it became quite clear that I was oversubscribed. I was not meeting my deadlines for either of those two efforts, so I gave up the translator. They hired another fellow to maintain that, although I stayed in touch with it for some years, helping him when he had questions and so forth. I then focused my main effort over on SOFIA’s DCS (Data Cycle System) side.              

    What has been your most interesting work here at Ames?

    I’d say it was flying on the KAO, but very specifically it was Supernova 1987A which occurred after I had been here for only a couple of months. It went off in February of 1987. Nobody really knew what it would look like in the infrared to an instrument on an observatory like the KAO, so it was obviously a huge deal since it was the closest supernova for hundreds of years.  Our team just completely redirected  to carry out observations of the supernova.  Dave Hollenbach and I worked together to try and figure out what we would see. We wrote up the science portion of the proposal,. For these observations, our instrument – the CGS (Cooled-Grating-Spectrometer) – had to be fairly substantially reworked in the sense that the grating needed to be changed to go to lower resolution and the detectors needed to be changed to get wider bandwidth and go to shorter wavelengths. Ed and Mike worked long days, weeks, and months to make all of those changes happen. In our proposal we made some predictions about which lines we could see, mostly iron lines, and which ionization states. We put that in the proposal, which was accepted. We then wrote up the proposal as a separate paper. When we went down and did the observations, we actually got some of it right. Surprisingly, iron was indeed bright. We thought we’d be seeing all different ionized states of iron, from singly, doubly, triply ionized iron, when in fact it was very much concentrated in singly ionized iron with a little bit of doubly ionized iron, there was a faint line there. We had gotten the temperatures right, but we didn’t quite get the ionization right. We were in the ballpark, so I think this was really the most interesting work in that when we started nobody had really seen anything like it before. We were starting from very basic principles, and we followed that all the way through to a nice series of papers. We went down for three different epochs because the lines were changing with time as the supernova ejecta expanded. We obtained three sets of measurements, which resulted in three papers.

    What I’m currently working on? Well, SOFIA is, of course, shut down and I am working as part of the shutdown process. We’re trying to reprocess a lot of the data to bring it up to standard, especially the older data. We learned more about the instruments as time went on, so we can now do a better job of reducing the data. I’m helping out with reducing the data, getting it into the archive as we shut down, and of course, writing proposals.

    What comes next? So far I’ve collaborated mainly with Naseem, whom you have spoken to, Sarah Nickerson, whom you also have spoken to, and Doug Hoffman (whom we’ve also spoken to). So that’s proposals.

    How is your work relevant to Ames and the NASA mission? 

    Well, I’ve worked on NASA missions almost my entire career, so I think that’s the closest to relevance as you can get.

    What is a typical day like for you?

    I mostly work, well before the pandemic in my office, but now it’s back and forth. I do like to come into the office although this week is a little different. That’s why we’re doing this interview from home. My wife is out of town and I like to work at home on those weeks just to keep the dog out of trouble. So I’m at a computer. I’m a software guy and a data analysis guy, not a lab guy, so I work at the computer. I actually have several computers on my desk. I look like a real developer (laughs). If you see my desk, I’ve got a couple of big screens and couple of computers underneath hooked up to different things and I can switch them around. So that’s a typical day, but at home it’s a little tougher. I don’t have a desk that can really manage the big screens, so I’ve just got one little laptop screen to work with.

    Is home close enough that the pandemic shut down of the Center didn’t really save you a whole lot of commute time?

    I live across the Bay in Newark, which physically is not far, but traffic wise is not good. I typically come in later and stay later because that works with my wife’s schedule and also works with the traffic. We’re not so close that it’s easy. I hated during the pandemic having to work at home all the time because of the small screen and with no room to spread out piles of paper or stay organized. That was definitely a challenge. I was very glad to get back on site.

    What do you like most and least about your job?

    Most would be doing science, but I also enjoy coding. Least is probably the standard sorts of things that most people whine about when given any opportunity.  All the stuff that goes with the job that isn’t science or coding, like IT security and paperwork. Right now I’m in the midst of training, taking courses I’ve taken every year for the last ten years, which gets a little old after a while, things like that. But somebody thinks you need to do it, and I hope it makes us a better organization for everybody doing it.

    Do you have a favorite memory from your career? Or perhaps a research finding or breakthrough, or an unexpected research result?

    My favorite memory would be the Supernova 1987A work in general. We found some unexpected things there and we got some things right.

    If you could have a dream job, what would it be?

    My dream job is pretty close to what I have. Pretty close without all the extra stuff.

    What advice would you give to someone who wants a career like yours?

    Of course you’ve got to work hard, and you need to have an aptitude for it. It’s a very competitive field, so you’ve also got to realize that luck, or being in the right place at the right time, can be a factor in whether you continue or not.  I’ve had colleagues who were very good at what they do, but they just weren’t in the right place at the right time. They ended up leaving the field or doing something less than what they hoped. Some things are just out of your control.

    I did get lucky. I was in the right place at the right time. I flew on the Kuiper, and I developed skills. When SOFIA started, those skills were very much in demand.  That was my right place, right time moment, which is when I joined the civil service.  I had been a contractor  after my NRC ended through 1997. I became a civil servant then because there was so much work on SOFIA. I don’t know if that’s  helpful advice, but it’s just my take on things.

    Well, you’re right. There’s something to being in the right place, at the right time and being prepared, but there’s always the serendipity aspect, which is just part of life. You could have wound up somewhere else and been just as happy, you know.

    Oh yes, It doesn’t necessarily relate to happiness, but you’ve got to make the best with what you have.  I do feel lucky about that.

    Would you like to share anything about your family? Kids, pets, activities? You mentioned a dog?

    I’m going to mix the order up a little bit.

    Sure, go ahead.

    The accomplishment I’m most proud of that’s not science related would be 40 years of marriage to my fabulous wife. We just celebrated our 40th anniversary about a week and a half ago.

    Congratulations! That is indeed an accomplishment.

    So, no children but we do have a dog, a little Welsh Corgi. She’s our second corgi and she is just great. We do enjoy traveling. Typically, we’ll go on vacation in August. often to Europe. We’ve visited the UK five or six times, France a couple of times, Italy a couple of times. My father-in-law was born in Hungary, so we’ve gone there a couple times. Here is a photo of us at Lake Louise in 2019, with our Corgi.

    What do we do for fun the rest of the time? Besides leisure travel, I enjoy gardening. We also enjoy musical events.  We have season tickets to the San Jose Opera, for example, and we’ll go up to San Francisco for concerts a couple of times a year. We probably have an event every other month.  During the pandemic, the restaurants and movie theaters were closed, but wineries with outdoor spaces were open.  They started serving food during the pandemic, and they allowed dogs, so we got in the habit of doing a lot of wine tasting on weekends just to get out. We still do some of that. To celebrate our 40th, we went up to Napa and tasted a lot of great wines. (laughs)

    You mentioned that you’re not particularly musical, so you don’t play an instrument or anything, but you enjoy music and opera.

    I enjoy listening to music. I played instruments as a child but had no particular talent for it, so. . . .

    Do you like to read? And if so, any particular genre?

    I read a fair bit, and it’s sort of divided. For entertainment, I’ll read fantasy and science fiction, but when we go on our trips, I’m always buying books about what we’re doing. For example, if we go to France and visit cathedrals, I’ll buy books about how they built cathedrals; or in England I’ll read about old Stone Age tombs. Everybody’s heard about Stonehenge, but there are stone circles and other stacks of stones, big ones, all over the landscape, so I will buy books and read about them. I have books about Roman battle tactics, etc. Oh yes, and I also have a lot of geology books, depending on where we go. When we went to the Canadian Rockies, I got a lot of geology books about that locale. I bring those home, stack them up, and read them, hopefully before the next trip. So yes, a lot of reading. When my wife travels, sometimes I’ll go hiking. She’s gone up to 15-20 weekends a year  She’s a textile artist.She teaches lacemaking, which is the way they used to make lace by hand, before machines. There are groups around the country that enjoy lacemaking, so she travels to  teach workshops for them on weekends.

    Wow, that’s fascinating!

    This week, she’s actually up in Sparks, next to Reno, where the National Convention is going on. It moves around every year, but this year it’s relatively close. She travels a lot for that, which keeps her busy. When she’s away, our dog and I will sometimes go for hikes, if we don’t have too much other stuff to do. Interestingly,  we are not the only astronomer-lacemaker couple in the world (laughs). There’s an Australian couple – Ron and Jay Ekers – with Jay a lacemaker and Ron an astronomer. We had dinner with them once when they were visiting in the Bay Area because our wives knew each other. My wife had once traveled down to teach in Australia. Normally she just travels around the U.S., but she has done some international trips.

    Now, is this manual lacemaking with needles and thread or . . . ?

    There can be needles and thread. That’s one form of it. What my wife teaches is “bobbin lace”, which is made on a pillow usually stuffed with straw. Two bobbins are connected by a thread with many of these pairs used to weave threads together to create the pattern. Photos of Louise’s designs are on her website – https://colganlacestudio.com/. Here’s a photo of what a lace pillow looks like.

    Interesting. And when did she get interested in this? Was it something she learned as a child, from her mother or grandmother?

    No, it was at Cornell. She was in grad school there, which is where we met.

    And what was her course of study?

    She was in a Master’s program for historic preservation, basically how to preserve old buildings, of which there are many in upstate New York and few in the Bay Area. She had finished her class work, and I still had several years to go on my dissertation. She looked around for something to fill her time, and one of her friends – a colleague in her department – had already taken this up, and brought her to a meeting. She started taking classes from a local teacher, and by the time we moved west, she was well-versed. Not many people out here knew how to do it, so she started taking on students.

    So I’m calculating back, since I’m a numbers guy, that if you just celebrated your 40th anniversary, then you must have married her while you were still in grad school?

    Yes, about halfway through grad school, in 1983.

    Interesting. So you’re a little bit responsible for her developing this interest in lacemaking?

    I wouldn’t claim any of that.

    But you’re responsible for giving her the time to develop this interest in lacemaking that she has done so well in.

    It was all her effort. If anything, I made conditions difficult for her, and she found her way out (laughs). That’s probably the way I would phrase it.

    Fair enough. But it’s very interesting. I like when we can poke around a little bit and find out interesting things, because then people who read this will say, “Well, I didn’t know that he went there or that his wife does lacemaking or the other things that you’ve talked about. That’s part of the purpose of these interviews.  Who or what inspires you?

    That was a real easy one for me: the night sky.  It’s not so great in the Bay Area most times, but there’s so much going on up there. I mean, it’s really all laid out for you. Since I studied and read about  a lot about the sky as a kid, I know my way around it. a I also know fun little facts, so that’s entertaining to recall as well. When you get up in the mountains, of course it’s just beautiful.

    I feel the same way. I don’t see how anyone can look up at and ponder the night sky and not be just fascinated by it. The questions that come up about what it is, how it came to be, what its purpose is, if there is one, and all of that is just fascinating.

    Yes, I agree.

    Do you have a favorite image, of space or anything that is particularly meaningful to you?

    You know I don’t have one now. I mean, there are a lot of very nice ones out there. A big favorite I remember as a kid was a photo of H and Chi Persei, which is a double cluster of stars, not globular clusters but open clusters. It’s very colorful, with red stars and white stars and blue stars in the image – and just imagining it so far away, but these particular stars are so close together. I don’t know much about it, but something about it just impressed me. A photo like what I remember is at https://www.astrobin.com/337742/.

    The reason we ask about images is because we like to include them in the post, especially about things you’ve talked about.  You mentioned for example, the Supernova 1987A. If a picture from SOFIA came out of that it would be a great addition to this interview. And then maybe you have a picture of you and the corgi on a hike, or your wife doing lace work, anything like that would be great.

    Well, we’ll work on that.

    [Photo thoughts: The three of us from Lake Louise, link to H & Chi Persei photo on the web, Lace Pillow showing bobbins]

    That would be for when you return it after editing.  By the way the transcript is a living document so you can make changes right on it and that’s how it will go in. It isn’t all that formal, we’re not tracking edits or anything like that. We’ll add your pictures and get to a point where it’s set up as it would be when it gets posted and then we’ll send it to you for a final check.  We’re also several months out in terms of the queue of those that are going to be posted, so it won’t be immediate.

    Good.

    We’ve posted about 50 of these, but we’ve done another 20 that are in various stages of being made ready. We’ve sent them out but haven’t gotten them back yet because everybody’s so busy.  We do have a last question and that is do you have a favorite quote? One that you find meaningful, or witty, or clever, that kind of thing?

    I did think about it. Sometimes you asked the question in the online ones about inspirational quotes and this is definitely not inspirational.

    It doesn’t have to be.

    I was hoping that because you didn’t say it here. My favorite quote is one my mom said a lot when I was growing up. She always attributed it to her father. I actually looked it up on the web, because I would have thought Mark Twain perhaps said it. It doesn’t seem that anybody famous has said it though. The reference is in a book from just ten years ago. The quote is: “The reward for good work is more work.”

    Ah, I like that. That’s clever and witty and seems to be true.

    Right.

    One of my favorite quotes which I don’t think I put into my post because there’s so many of them is from Mike Griffin, former NASA Administrator. He was talking with the press, I think about risk management and why we do things that don’t always work out. He was explaining that there’s always a risk, and if you don’t accept the risk, then you don’t make progress, but they kept questioning him and pushing back on that idea. And he said, “I can explain it to you, but I can’t understand it for you.”  And I thought, that’s a good line!

    Anyway, you ran the table here on the questions and I appreciate that you prepared ahead of time and wrote some notes down, which made the interview go very well.

    As I said, I prefer the written word. I’m not as good at thinking on my feet.

    Is there something that you wish we had asked or had put down as a topic that we didn’t, that you would like to add here? And you can certainly add or change anything when we send this back. There’s a note on the transcript that you have full creative control. So if you wanted to say something but didn’t, you can type in an entire extra paragraph or extra question, or remove and cut out an entire section.

    And  with that, I’ll take the recording and start putting it on a paper and within a couple of weeks, I’ll send you the initial draft and then you can do with it as you wish and send any pictures or anything that relate to things that you talked about and then we’ll get it ready and put it in the queue and eventually you’ll get perhaps a few of your entitled 15 minutes of fame when this goes up. I will add that it goes up on the public side of the of the website so that your family or your friends, anybody can access it and read it.

    So if somebody googles names of interviews you’ve done, the links to the interviews come up.

    Well, I hope that doesn’t cause you heartburn.

    I’ve thought about that as I was phrasing my answers, and changed some passwords so I can include names in the photo captions

    I hadn’t thought of that aspect of it, but you’re probably right.

    Yeah.

    I never know what’s going to touch someone’s concerns.

    Well, just to be careful.

    (Mark) There’s another thing that even after we publish, we can still edit them years into the future. Everything on the main sites can be changed at any given moment. Also, Fred, just to note, our interviews rank pretty high on the Google rankings. Usually when you Google someone’s name and then NASA, our interviews are near the top of their results, like on the first screen that comes up.

    (Fred) Oh, really? I didn’t know that.

    (Mark) Yeah. This is a pretty good series, people check it out a lot.

    Which means that people googling names are clicking on the interviews and reading them.
    (Mark) People read these a lot.

    (Fred) The other series I do for the website is “Interesting Fact of the Month”.  Steve Howell suggested that would be a nice addition as we try to attract traffic to the website, and I heard a year or so ago that it was the top item on the code ST website, it got the most hits.

    (Mark) Yes, you’ve got spots one and two on your side projects!

    (Fred) Well, Sean, I appreciate that you were able to overcome your initial hesitation and take the time to work with us on this and I think you’ll be pleased with how it comes out. Thank you very much for being so organized.

    Thank you for your time.

    Interview conducted by Fred Van Wert and Mark Vorobets on June 29, 2023

    MIL OSI USA News

  • MIL-OSI Economics: Thales reports its 2024 full-year results

    Source: Thales Group

    Headline: Thales reports its 2024 full-year results

    • Order intake: €25.3 billion, up 9% (+6% on an organic basis1)
    • Sales: €20.6 billion, up 11.7% (+8.3% on an organic basis)
    • Adjusted EBIT2: €2,419 million, up 13.4% (+5.7% on an organic basis)
    • Adjusted net income, Group share2: €1,900 million, up 7%
    • Consolidated net income, Group share: €1,420 million, up sharply by 39%
    • Free operating cash flow from continuing operations 2,3: €2,142 million, up 9%
    • Free operating cash flow2: €2,027 million, stable against 2023
    • Dividend4of €3.70 per share, representing 40% of Adjusted net income, Group share
    • Non-financial performance: steady progress towards medium to long-term targets
    • 2025 objectives:
      • Book-to-bill5above 1
      • Organic sales growth of between +5% and +6%, corresponding to sales between €21.7 billion and €21.9 billion
      • Adjusted EBIT margin between 12.2% and 12.4%

    Thales’s Board of Directors (Euronext Paris: HO) met on March 3, 2025 to review the 2024 financial statements6.

    “2024 was once again a year of strong profitable growth for Thales.

    ​Thales, a world leader in advanced technologies in Defence, Aerospace, Cybersecurity and Digital, maintained excellent sales momentum throughout the year, achieving a record order intake of more than €25 billion. The record order book provides unprecedented visibility for all our activities.
    ​Sales exceeded the €20 billion mark with organic growth of 8.3%, above expectations. Defence activities, underpinned by an ongoing increase in the Group’s production capacity, the technological excellence of our products and the commitment from all our colleagues, contributed in particular to this performance.
    ​Thales also demonstrated once again its ability to generate profitable growth, with an increase in EBIT in absolute terms and as a percentage, reflecting the strength of its operating leverage.
    ​Thanks to its unique business model based on world-class products, systems and services, Thales generated free operating cash flow of more than €2 billion.
    ​Non-financial performance was also remarkable in 2024. The validity of our CSR strategy was acknowledged as Thales joined the CAC 40 ESG index in 2024.
    ​This historic performance is the result of the unfailing commitment of our 83,000 employees, and I would like to thank them sincerely for their dedication to our clients.

    ​We are starting 2025 with confidence and determination and a positive outlook for the vast majority of our activities. Thales presented its new strategic roadmap in November 2024. By drawing on its unique leadership positions serving growing markets and its ability to innovate and anticipate technological breakthroughs, the Group affirms its ambition to deliver accelerated, profitable and sustainable growth over the coming years, starting in 2025.”

    Patrice Caine, Chairman & Chief Executive Officer

    Key figures

    Order intake for the 2024 financial year increased by 9% compared with 2023 at €25,289 million and by +6% on an organic basis (i.e. at constant scope and exchange rates). Commercial performance was once again supported by strong demand in the Defence segment and by continued sustained momentum in the Aerospace segment. As at 31 December 2024, the consolidated order book amounted to nearly €51 billion, a record level, up by nearly €5.4 billion compared with the end of 2023.

    Sales totaled €20,577 million, up 11.7% from 2023 (+8.3% in organic growth). This robust growth reflects in particular the solid performance of the Defence business throughout the year.

    Adjusted EBIT7 stood at €2,419 million in 2024 (11.8% of sales), compared with €2,132 million (11.6% of sales) in 2023, an increase of 13.4% (+5.7% organic change).

    At €1,900 million, Adjusted net income, Group share7 was up +7% compared to 2023.

    Consolidated net income, Group share, stood at €1,420 million, up sharply by +39% from 2023. This increase can be explained notably by the recognition in 2023 of a non-current and non-recurring expense linked to the implementation of insurance coverage for the Group’s commitments under the Thales UK Pension Scheme. These commitments were transferred to Rothesay at the end of 2023.

    Free operating cash flow from continuing operations7,9 amounted to €2,142 million, compared with €1,968 million in 2023. Including the contribution of discontinued operations, free operating cash flow7 amounted to €2,027 million, compared with €2,026 million in 2023.
    ​Calculated on the basis of the scope of continuing operations, the cash conversion ratio of Adjusted net income, Group share, into operating free cash flow was 114%. This once again exceptional performance, which saw the cash conversion ratio exceed 100% for the fifth consecutive year, reflects the excellent momentum of new orders, the phasing effects on cash inflows related to contracts’ execution and the continued Group’s mobilization of its CA$H! plan aimed at optimizing this conversion ratio.

    In this context, the Board of Directors decided to propose the payment of a dividend of €3.70 per share, corresponding to a payout ratio of 40% of the Adjusted net income, Group share. An interim dividend of €0.85 per share was paid on December 5, 2024. The balance of €2.85 will be paid on May 22, 2025.

    Order intake

    Order intake for the 2024 financial year totaled €25,289 million, up 9% from 2023 in total change and up +6% at constant scope and exchange rates11. For the fourth consecutive year, the order intake was more than 20% higher than sales (book-to-bill). Thebook-to-bill ratio was 1.23, flat against 2023, and 1.28 excluding the Cyber & Digital business, where the order intake is structurally very close to sales.

    In 2024, Thales signed 35 large orders with a unit value of over €100 million, representing a total of €8,674 million:

    • Four large orders booked in Q1 2024:
      • The entry into force of the third phase of the order placed by Indonesia in 2022 for the purchase of 42 Rafale aircraft (18 aircraft and support services);
      • Phased contract with the French Defence Procurement Agency (DGA) to develop the next generation of sonars to equip French nuclear-powered ballistic-missile submarines (SSBN);
      • Order of an aerial surveillance system for a military customer in the Middle East;
      • Second tranche of the contract signed in 2023 between France and Italy for the production of 400 ASTER B1NT ground-to-air missiles.
    • Eight large orders booked in Q2 2024:
      • Order for a next generation cloud native “FLYTEDGE” InFlight Entertainment System for a major worldwide airline;
      • Order by SKY Perfect JSAT to Thales Alenia Space of JSAT-31, a new generation of satellite reconfigurable in orbit using Space INSPIRE technology;
      • Exomars 2028, a contract signed between industrial prime contractor Thales Alenia Space and the European Space Agency (ESA) to relaunch the European space mission dedicated to the exploration of the Red Planet;
      • Order of two new F126 frigates by the German Navy. This additional contract brings the number of F126 frigates acquired by the German Navy to six in the past four years;
      • Order by the Dutch Ministry of Defence of seven additional Ground Master 200 multi-mission compact radars;
      • Service contract for the maintenance of the Royal Australian Navy fleet;
      • Order by an Asian customer of latest-generation Ground Master 400 Alpha long-range air surveillance radars;
      • Order by France’s Joint Munitions Command (SiMu) of tens of thousands of 120mm rifled ammunition.
    • Seven major orders recorded in Q3 2024:
      • Notification by the DGA of the second tranche of the development of the future RBE2 XG radar for the Rafale F5;
      • Order for the supply of anti-submarine warfare systems for the first phase of the construction of six HUNTER-class frigates for the Royal Australian Navy;
      • Order for the renovation of an air traffic management system;
      • Order from the UK Ministry of Defence for the supply of Lightweight Multi-role Missiles (LMM) to strengthen Ukraine’s air defence capabilities;
      • Order of LMM for the British armed forces;
      • Order for the supply of Ground Fire multifunction radar and engagement modules following France’s acquisition of seven SAMP/T NG air defence systems;
      • Order for the supply of communications, vetronics, navigation and optronics equipment for vehicles in the French Army’s SCORPION program.
    • Sixteen large orders booked in Q4 2024:
      • Order for the supply of a satellite for the European Space Agency’s EnVision scientific mission to understand the planet Venus;
      • Contract amendment signed with OHB System for the payload of the third satellite of the European CO2M mission focused on CO2 emissions generated by human activity;
      • Amendment to the contract with the European Space Agency for the development of the ESPRIT communications and refueling module for the future lunar space station, Gateway;
      • Order for the development of the world’s first quantum key distribution (QKD) system from geostationary orbit, in collaboration with Hispasat;
      • Contract with the Mohammed Bin Rashid Space Centre to develop the Emirates Airlock Module on board the future lunar space station Gateway;
      • Entry into force of the contract for the supply of 12 Rafale to Serbia;
      • Order from Naval Group for the supply of equipment for the submarine delivery contract in the Netherlands;
      • Order under the AJISS contract to provide In-Service Support to Royal Canadian Navy ships;
      • Order for the development and production of 430 new-generation MICA-NG interception, combat and self-defence missile seekers;
      • Order from the UK Ministry of Defence for the development and preparation of large-scale production of STARStreak HVMs (High Velocity Missiles) for the armed forces;
      • Order from the French Air Navigation Services Directorate (DSNA) aimed at improving the 4-Flight air traffic management system;
      • Amendment to the CONTACT contract with the DGA providing the armed forces with a range of software-defined radios designed for collaborative combat;
      • Order from the UK Ministry of Defence to ensure the permanence and maneuverability of the Royal Navy’s operational communications;
      • Order from the DGA as part of the SYRACUSE IV program to equip the French army’s SCORPION vehicles with Thales’ secure satellite communications solution;
      • Order from the DGA for the design, delivery and maintenance of a resilient communication system;
      • Order from the DGA to produce an encryption key management and distribution system and key injector for the Ministry of the Armed Forces.

    With a total amount of €16,615 million, order intake with a unit value of less than €100 million continued to record favorable momentum.

    Geographically12, order intake in mature markets amounted to €19,010 million, very close to that recorded in 2023, which though included the £1.8 billion MSET contract in the United Kingdom. Sales momentum elsewhere was also solid, particularly in the rest of Europe (up by 16% on an organic basis) and in Australia and New Zealand (up by 13% on an organic basis). Order intake in emerging markets was up sharply in 2024, amounting to €6,279 million (+39% at constant scope and exchange rates) thanks to continued strong momentum in the Near and Middle East (with an organic increase of 80%).

    Order intake in the Aerospace segment totaled €6,434 million compared to €5,606 million in 2023 (+14% at constant scope and exchange rates). This solid growth reflects several trends.

    • The different segments of the Avionics market continued to record sustained demand in 2024;
    • The Space business posted sustained growth in order intake, including five orders with a unit value of more than €100 million recorded in the fourth quarter, four of which in OEN (Observation, Exploration & Science and Navigation) activities.
    • At December 31, 2024, the segment’s order book stood at €10.5 billion, up 13% from 2023.

    At €14,723 million compared to €13,944 million in 2023, order intake in the Defence segment set a new record (+5% at constant scope and exchange rates). The book-to-bill ratio was 1.34, above 1.2 for the sixth consecutive year. This high level is explained by continued strong demand in all activities, with twenty-seven contracts with a unit value of more than €100 million recorded in 2024. The segment’s order book reached a new record at €39.2 billion (up 12%), corresponding to 3.6 years of sales, offering strong visibility for the years ahead.

    At 4,032 million, order intake in the Cyber & Digital segment was structurally very close to sales as most business lines in this segment operate on short sales cycles. The order book is therefore not significant.

    Sales

    Note: full-year 2023 figures have been restated to reflect the transfer of cyber civil activities from the Defence segment to the Cyber & Digital segment.

    Sales for the 2024 financial year totaled €20,577 million, compared to €18,428 million in 2023, up 11.7% in total change and 8.3% in organic terms (at constant scope and exchange rates14), driven in particular by the robust performance of the Defence segment.

    Geographically15, sales recorded solid growth in both mature markets (+7.9% in organic terms) and emerging markets (+9.6% in organic terms), driven by double-digit growth in Asia.

    Sales in the Aerospace segment totaled €5,471 million, up 4.8% from 2023 (+2.9% at constant scope and exchange rates). Momentum in this segment reflects contrasting trends:

    • The Avionics business posted mid-single digit organic growth in 2024, notably driven by strong momentum in both original equipment activities and aftermarket services, with a return to pre-Covid levels in air traffic. However, as expected, the fourth quarter was impacted by delays in aircraft deliveries to airlines, which postponed in-flight entertainment (IFE) sales;
    • As expected, sales were almost flat in the Space business. The telecommunications segment continued to be impacted by structurally lower demand in the geostationary satellite market. Conversely, trends remain positive for OEN activities.

    Sales in the Defence segment totaled €10,969 million, up 13.9% from 2023 (+13.3% at constant scope and exchange rates). This strong growth came against a backdrop of steady growth in the Group’s production capacity, enabling it to meet high demand in all product lines. Growth was notably driven by land and air systems, such as tactical vehicles and systems or surface radars. The fourth quarter of 2024 also benefited from favorable cut-off effects.

    At €4,024 million, sales in the Cyber & Digital segment increased by 1.4% at constant scope and exchange rates (and +14.8% in total change including the positive scope effect of the acquisitions of Imperva and Tesserent). This moderate organic sales growth reflects different trends depending on the activities:

    • Strong momentum continued for cyber businesses, including a strong performance from Imperva;
    • Against a high comparison basis in 2023, payment services sales were impacted by destocking by our customers in North America;
    • Lastly, the digitalization of secure connectivity solutions maintained its strong growth. Sales generated in fully digital connectivity solutions (including eSIMs and on-demand connectivity platforms) recorded double-digit organic growth and accounted for more than half of sales of this secure connectivity solutions business in 2024.

    Results

    For 2024, the Group posted Adjusted EBIT16 of €2,419 million, or 11.8% of sales, compared to €2,132 million (11.6% of sales) in 2023.

    The Aerospace segment recorded Adjusted EBIT of €391 million (7.2% of sales), compared with €369 million (7.1% of sales) in 2023. The segment’s Adjusted EBIT margin is driven by the Avionics business, which posted a double-digit margin and improving, including the contribution of Cobham AeroComms. However, Space activities weighed on the segment’s margin, recording as expected a negative Adjusted EBIT margin in 2024 resulting from several factors: an expected increase in R&D spending, restructuring costs linked to the adaptation plan announced in March 2024 and the impact of inflation not reflected on past contracts.

    Adjusted EBIT for the Defence segment amounted to €1,432 million, compared with €1,270 million in 2023 (an increase of +13.0% at constant scope and exchange rates). The margin for this segment was stable at 13.1%, compared to 13.2% in 2023.

    At €585 million (14.5% of sales), Adjusted EBIT in the Cyber & Digital segment recorded solid growth in both value and margin. The improvement in profitability was notably due to the successful integration of Imperva and the robust margin on payment services and secure connectivity solutions for mobile networks in highly competitive markets.

    Naval Group’s contribution to the Group’s Adjusted EBIT amounted to €93 million in 2024, compared with €91 million in 2023.

    At -€166 million, compared with €2 million in 2023, net financial interest increased sharply, as expected. This increase was mainly linked to the substantial rise in debt following the acquisitions made in 2023. Other adjusted financial income16 stood at €35 million in 2024 versus -€37 million in 2023, reflecting the exceptional positive impact of dividends on non-consolidated affiliates and foreign exchange gains. The adjusted financial expense on pensions and other long-term employee benefits16 improved significantly (-€49 million compared with -€76 million in 2023), reflecting the removal of the interest expense following the transfer of UK pension obligations in December 2023.

    At €21 million, compared with €105 million in 2023, the Adjusted net income, Group share, from discontinued operations16 was in line with trends in the Transport business, which was sold on May 31, 2024.

    As a result, Adjusted net income, Group share16 was €1,900 million, compared to €1,768 million in 2023, after an adjusted income tax charge16 of -€427 million, compared to -€370 million in 2023. At 20.4% in 2024 compared to 20.1% in 2023, the effective tax rate was stable.

    The Adjusted net income, Group share, per share16 amounted to €9.24, up 9% from 2023 (€8.48).

    Consolidated net income, Group share, stood at €1,420 million, up 39% from 2023. This increase can be explained notably by the recognition in 2023 of a non-current and non-recurring expense linked to the implementation of insurance coverage for the Group’s commitments under the Thales UK Pension Scheme.

    Financial position at December 31, 2024

    Free operating cash flow17 amounted to €2,027 million compared to €2,026 million in 2023. It included a contribution of €2,142 million from continuing operations and -€116 million from discontinued operations. For continuing operations, the cash conversion ratio of Adjusted net income, Group share, into free operating cash flow was 114%.

    The net balance of acquisitions and disposals of subsidiaries and affiliates amounted to €359 million. Under its acquisition strategy, the Group completed two major operations in 2024:

    • The acquisition (on April 2, 2024) of Cobham Aerospace Communications, a leading supplier of cutting-edge technologies enabling flexible, integrated and more-autonomous avionics systems, based primarily in the United States and generating sales of approximately $200 million in 2023 (see press releases dated July 12, 2023 and April 2, 2024);
    • The sale (on 31 May 2024) to Hitachi Rail of the Transport business, a global leader in rail signaling and train control systems, telecommunications and supervision systems, and fare collection solutions (see press releases dated August 4, 2021 and May 31, 2024). This business generated sales of €1,822 million in 2023.

    As part of the share buyback program covering a maximum of 3.5% of the capital announced in March 2022 and completed in March 2024, 1,245,757 shares were repurchased during 2024, representing 0.6% of the share capital, for €176 million. The Group repurchased a total of 7,469,396 shares under this program, 3.5% of the share capital.

    At December 31, 2024, net debt amounted to €3,044 million compared with €4,190 million at December 31, 2023. This decrease reflects the impact of free operating cash flow generation, acquisitions and disposals for -€359 million (€3,464 million in 2023), the payment of €708 million in dividends (€634 million in 2023), new lease liabilities for €143 million (€166 million in 2023) and the share buyback program.

    Equity, Group share amounted to €7,515 million, compared with €6,830 million at December 31, 2023. This increase reflects the positive contribution of consolidated net income, Group share (€1,420 million) less the dividend payout (-€708 million) and share buybacks (-€176 million).

    Non-financial performance

    In line with its corporate purpose of “Building a future we can all trust”, Thales has set itself the ambition in terms of Corporate Social Responsibility (CSR): to contribute to a safer, greener and more inclusive world. First, the Group will seek to maximize the contribution of its portfolio of solutions to the planet and society. Secondly, Thales has set itself ambitious targets on three main priorities:

    • The fight against global warming;
    • Strengthening gender diversity at all levels;
    • The implementation of the best standards in terms of ethics and compliance.

    In terms of the fight against global warming, scope 1 & 2 CO2 emissions fell by 56.8% in 2024 compared to 2018 and scope 3 emissions fell by 24.7% compared to 2018. The Group has thus achieved its 2030 targets ahead of schedule for the second consecutive year. The absolute value reduction targets for carbon footprint remain relevant for 2030 given the Group’s growth prospects. To raise employee awareness to climate change and its impacts on society and on the Group, a voluntary training named “Thales Climate Passport” was deployed in 2024 with the aim of training 50% of managers. Over 67.4% of managers, representing around 35,000 employees, completed this training course in 2024, demonstrating the great success of this training.

    With regard to strengthening diversity, Thales has set itself an ambitious target for 2026 to have 75% of management committees with at least 4 women. Thus, at the end of 2024, 61.5% of the Group’s management committees had at least 4 women, compared to 52.6% at the end of 2023. The highest levels of responsibility comprised 21.1% women at the end of 2024[1]; a performance in line with the Group’s trajectory to reach the set goal of 22.5% by 2026 (compared to 20.4% at the end of 2023 and 16.6% at the end of 2018).

    In the area of ethics and compliance, 100% of employees concerned by the 2024 anti-corruption training campaign have been trained, demonstrating the Group’s continuous commitment to train all employees potentially exposed to risk situations. In 2024, the ISO 37001 certification “Anti-bribery management systems” was renewed for 3 years and extended to Germany, Australia, and New Zealand after Canada and the United States in 2023, and the United Kingdom and the Netherlands in 2022. Thus, in 2024, the revenue generated by certified entities represents 64% of the Group’s revenue (vs. 58% in 2023).

    [1] Percentage of women in the total workforce: 27.4%.

    Proposed dividend

    The Board of Directors decided to propose to the shareholders, who will convene at the Annual General Meeting on May 16, 2025, the payment of a dividend of €3.70 per share. This corresponds to a payout ratio of 40% of the Adjusted net income, Group share, per share.

    If approved, the ex-dividend date will be May 20, 2025, and the payment date will be May 22 2025. This dividend will be paid fully in cash and will amount to €2.85 per share, after deducting the interim dividend of €0.85 per share paid in December 2024.

    Outlook

    Thales is embarking on 2025 with confidence, bolstered by good visibility in the vast majority of its activities.

    In 2025, the Avionics business will be driven by both the original equipment and aftermarket services activities, the continued growth of the Cobham AeroComms business, and the gradual recovery of the IFE business. In the Space business, the outlook remains positive, particularly in the Observation, Exploration & Science, Navigation and military telecommunications activities. However, the structural weakness of demand in the geostationary satellite market will dampen the growth of this activity. Thales will continue to implement its cost adaptation plan, with the objective of an Adjusted EBIT margin of 7%+ in the Space business in 2028.

    The Defence segment, which enjoys a record order book, will be further supported by strong demand in 2025, against a backdrop of increasing military spending, particularly in the geographical areas where the Group operates. With the increase in its production capacity over the past several years and a portfolio of premium solutions incorporating differentiating leading technologies, Thales is ideally positioned to meet its customers’ needs.

    Lastly, the Cyber and Digital segment will benefit from positive momentum in 2025, supported by Thales’ unique positioning and leadership. The continued development of Imperva will strengthen the differentiating value proposition in cybersecurity activities in order to take advantage of the buoyant environment. The payment services business is also expected to gradually return to growth.

    The Group expects net investment expenses to slightly exceed €700 million in 2025 (after €617 million in 2024) to meet the need to increase production capacity, particularly in the Defence business.

    As a result, Thales sets the following targets for 2025:

    • A book-to-bill ratio above 1;
    • Organic sales growth of between +5% and +6%, corresponding to sales in the range of €21.7 billion to €21.9 billion;
    • An Adjusted EBIT18 margin between 12.2% and 12.4%, up 40 to 60 basis points from 2024.

    The Group also expects to maintain a high cash conversion ratio of between 95% and 100% in 2025.

    Note: assuming no new major disruptions of macroeconomic and geopolitical context; including tariff increase.

    Impact of new tax measures in France

    Following the adoption of the 2025 budget, which introduces various tax changes, the impacts for the Thales Group are as follows:

    • An additional tax expense of ~€80 million related to the temporary additional corporate tax charge, giving rise to an additional tax of 41.2% in 2025, resulting in an overall tax rate of 36.13% (instead of the current rate of 25.83%);
    • ~€8 million in taxes payable on share cancellations made in October 2024 as part of the share buyback program.

    The temporary additional contribution to corporate tax for Naval Group could have a negative impact of around €8 million on Thales’ Adjusted EBIT in 2025.

    These different impacts will represent an equivalent cash outflow in 2025.

    ****

    This press release contains certain forward-looking statements. Although Thales believes that its expectations are based on reasonable assumptions, actual results may differ significantly from the forward-looking statements due to various risks and uncertainties, as described in the Company’s Universal Registration Document, which has been filed with the French financial markets authority (Autorité des marchés financiers – AMF).


    1 In this press release, “organic” means “at constant scope and exchange rates”. See note on methodology on page 18 and calculation on page 23.

    2 Non-GAAP financial indicators, see definitions in the appendices, page 18. The title “EBIT” has been amended to “Adjusted EBIT”, in accordance with ESMA’s recommendation.The definition remains unchanged.

    3 Operating free cash flow from continuing operations, excluding the Transport activity sold on May 31, 2024.

    4 Proposed to the Annual General Meeting on May 16, 2025.

    5 Ratio of order intake to sales.

    6 As at the date of this press release, the verification process on the sustainability information is ongoing. With the exception of the possible impact of the conclusions of this process, the audit procedures have been carried out. The audit report will be issued following the Board of Directors’ meeting on April 2, after the finalization of the procedures related to sustainability information.

    7 Non-GAAP financial indicators, see definitions in the appendices, page 18.

    8 Proposed to the Annual General Meeting on May 16, 2025.

    9 Free operating cash flow from continuing operations, excluding the Transport activity sold on May 31, 2024.

    10 Mature markets: Europe, North America, Australia, New Zealand; emerging markets: all other countries. See table on page 22.

    11 Taking into account a currency effect of €49 million and a net scope effect of €625 million.

    12 See table on page 22.

    13 Mature markets: Europe, North America, Australia, New Zealand; emerging markets: all other countries. See table on page 22.

    14 The calculation of the organic change in sales is shown on page 23.

    15 See table on page 22.

    16 Non-GAAP financial indicator, see definition in the appendices, page 18 and calculation, pages 20 and 21.

    17 Non-GAAP financial indicator, see definition in the appendices, page 18.

    18 The title “EBIT” has been amended to “Adjusted EBIT”, in accordance with ESMA’s recommendation.The definition remains unchanged.

    MIL OSI Economics

  • MIL-OSI: New Equifax Report: Fraud Concerns are Escalating with 89 per cent of Canadians Saying Companies Must Do More

    Source: GlobeNewswire (MIL-OSI)

    Seniors and Quebecers Report the Greatest Fraud Concerns
    – Equifax Canada Market Pulse Fraud Trends and Consumer Survey Report –

    TORONTO, March 04, 2025 (GLOBE NEWSWIRE) — Concerns about fraud are escalating among Canadians, with a new Equifax Canada survey* conducted ahead of Fraud Prevention Month revealing that 89 per cent of those surveyed believe companies must do more to protect personal data. Seniors and Quebec residents are particularly worried, demanding stronger fraud prevention measures and broader fraud education.

    Key findings of the survey:

    • More than half (55 per cent) of respondents believe identity thieves will always be one step ahead, with 51 per cent unsure of how to respond to fraud.
    • Seniors aged 65+ feel most at risk, with 96 per cent agreeing that companies must improve fraud protections, compared to 75 per cent of those aged 18-24.
    • Quebec (94 per cent) residents demanded the most action from companies on fraud prevention, while Alberta (86 per cent) was the lowest.
    • 64 per cent of respondents recognize that financial fraud fuels serious crimes like human trafficking and illegal weapons trade.
    • 58 per cent of respondents struggle to keep up with the latest scams, leaving many feeling vulnerable.
    • 48 per cent of respondents personally know someone who has been a victim of identity theft.

    “Fraud prevention is a major concern for many Canadians. Research shows that every dollar lost to a fraudster costs individuals and banks significantly more money. Companies must act now to strengthen fraud protection,” said Carl Davies, Head of Fraud & Identity at Equifax Canada. “Canadians, especially older adults, are demanding better safeguards to prevent financial crimes and identity theft.”

    The Auto Industry: A Hotspot for Fraud
    Auto fraud is a major concern with rates escalating in most provinces, particularly Ontario. According to recent Equifax Canada data, auto application fraud rate in Q4 2024 reached 0.26 per cent, up by 2 bps from Q3 2024 and up 9 bps when compared to 24 months ago. Falsified documents and inflated income are key drivers of first-party fraud in this sector, making up close to 80 per cent of all fraudulent applications. Consumers who are new-to-credit and new-to-Canada had significantly higher auto fraud rates in 2024 than other consumers — more than double the fraud rate that we see from consumers with more established credit files. Auto application fraud rates for those New to Canada/New to Credit in 2024 was 0.51 per cent compared to existing consumers at 0.22 per cent.

    Mortgage Fraud is Down but Falsified Financial Documents Remain a Challenge
    Equifax Canada is reporting that the Canadian mortgage market continues to slowly rebound from its lows in 2023, demonstrating growth in Q4 2024 with increased new mortgage accounts. Mortgage fraud rates have decreased significantly year-over-year, from 0.46 per cent in Q4 2023 to 0.19 per cent in Q4 2024. Despite this positive trend, falsified financial documents, such as bank statements and down payment information, remain a significant component of mortgage fraud at over 90 per cent. “This decline in fraud rates might be temporary. As interest rates gradually decrease, a potential surge in first-time buyers in 2025 could lead to increased fraudulent activity in mortgage credit applications. Consumers may misrepresent their financial information in an attempt to secure the best possible rates,” Davies warns.

    A Call for Stronger Corporate and Government Action
    Canadian survey respondents believe financial institutions, businesses, and the government all have a role to play in strengthening fraud prevention measures:

    • 88 per cent of respondents believe that both the public and private sectors must work together to combat financial crime
    • 84 per cent believe the government must improve public fraud education, with 91 per cent of seniors (65+) strongly agreeing
    • 77 per cent recognize the need to take personal steps to safeguard their data, but many feel unprepared
    • 61 per cent say banks should implement stronger security protocols
    • 59 per cent believe companies should leverage more sophisticated fraud detection tools

    Equifax Canada urges Canadians to take active steps in protecting their identities by regularly reviewing their credit reports for unusual activity, enabling multi-factor authentication on sensitive accounts, avoiding public WiFi for financial transactions, educating themselves on new fraud schemes, and consider investing in fraud protection services such as those offered by Equifax Canada.

    “As fraud tactics evolve, Canadians must remain vigilant,” added Davies. “By combining stronger corporate policies, government oversight, and personal diligence, we can make strides in fraud prevention.”

    * Equifax surveyed 1,590 Canadians ages 18-65, Feb. 7-9. A probability sample of the same size would yield a margin of error of +/- 2.5 per cent, 19 times out of 20.

    About Equifax
    At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employers, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by nearly 15,000 employees worldwide, Equifax operates or has investments in 24 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.ca.

    Contact:

    Andrew Findlater
    SELECT Public Relations
    afindlater@selectpr.ca
    (647) 444-1197

    Angie Andich
    Equifax Canada Media Relations
    MediaRelationsCanada@equifax.com

    The MIL Network

  • MIL-OSI United Kingdom: Central Library to host North East poets celebration

    Source: Scotland – City of Aberdeen

    Aberdeen Central Library is hosting a special World Book Day evening of poetry and music this week to celebrate the North East’s poets, past and present.

    The event takes place this Wednesday (5 March) between 6 and 7.30pm and launches The Wee Gaitherin’ Heritage Exhibition  which runs at the library until World Book Night on 23 April.

    Contemporary Poets, including Hugh McMillan, Shane Strachan, Cáit O’Neill McCullagh Nicola Furrie-Murphy, Neil Young and Lesley Benzie, will read their own works as well as extracts from some renowned writers of the past, from 1320 through to the 21st century. Accomplished local musicians, David & Gloria Potter, will also entertain with their music and song. Free refreshments will also be available.  

    Councillor Martin Greig, Aberdeen City Council’s culture spokesman, said: “Aberdeen and the North East has a strong and distinctive tradition of poetry and song that stretches back many centuries. The Wee Gaitherin Heritage Exhibition is a welcome opportunity to celebrate our local literary heritage and keep it alive for the future.

    “Over the last 700 years, North East writers have produced a considerable body of imaginative works in poetry and fiction. The exhibition will not only give much pleasure to readers of all ages, the texts will hopefully inspire new writing and fresh talent.” 

    The exhibition will run from 6th March 2025, World Book Day, through to World Book Night on 23rd April 2025.
     
    The exhibition grew out of its charitable community engagement program and owes its existence to the enormous amount of work generously volunteered by Gloria Potter who curated and organised all the other local writers/artists and local history enthusiasts involved.  

    In addition to celebrating the long and rich written cultural heritage of the North East, this significant legacy exhibition offers a wide array of poetry from the output of workshops with school pupils and all-age workshops held within Stonehaven library, who were hugely supportive partners.

    To reserve your place online at http://bit.ly/ACLEventsCalendar, email libraryevents@aberdeencity.gov.uk or phone 01224 070707. 
     

    MIL OSI United Kingdom

  • MIL-OSI Asia-Pac: Suspected red tide sighted at Deep Water Bay Beach

    Source: Hong Kong Government special administrative region

    Suspected red tide sighted at Deep Water Bay Beach
    Suspected red tide sighted at Deep Water Bay Beach
    **************************************************

    Attention TV and radio announcers:Please broadcast the following as soon as possible:     Here is an item of interest to swimmers.     The Leisure and Cultural Services Department announced today (March 4) that due to the sighting of a suspected red tide, the red flag has been hoisted at Deep Water Bay Beach in Southern District, Hong Kong Island. Beachgoers are advised not to swim at the beach until further notice.

     
    Ends/Tuesday, March 4, 2025Issued at HKT 15:00

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    MIL OSI Asia Pacific News

  • MIL-OSI Asia-Pac: Morrison Hill Swimming Pool temporarily closed

    Source: Hong Kong Government special administrative region

    Morrison Hill Swimming Pool temporarily closed
    Morrison Hill Swimming Pool temporarily closed
    **********************************************

    Attention TV/radio announcers:Please broadcast the following as soon as possible and repeat it at regular intervals:      Here is an item of interest to swimmers.     The Leisure and Cultural Services Department announced today (March 4) that due to urgent clearance works, Morrison Hill Swimming Pool in Wan Chai District has been temporarily closed and will be reopened at 3.45pm.

     
    Ends/Tuesday, March 4, 2025Issued at HKT 12:33

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    MIL OSI Asia Pacific News