Category: Machine Learning

  • MIL-OSI: Nykredit announces completion of the takeover offer

    Source: GlobeNewswire (MIL-OSI)

    Company announcement no. 15
    NOT FOR DIRECT OR INDIRECT RELEASE, PUBLICATION OR DISTRIBUTION IN OR
    TO ANY JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE CONTRARY TO APPLICABLE LEGISLATION OR RULES OF SUCH
    JURISDICTION

    Nykredit has announced completion of the takeover offer

    With reference to Spar Nord Bank A/S’ (Spar Nord) company announcement no. 14/2025 concerning the final result of the all-cash voluntary takeover offer from Nykredit Realkredit A/S (Nykredit) for all shares (other than treasury shares held by Spar Nord) in Spar Nord (the Offer), Nykredit has today announced that the Offer has been completed and settled as planned.

    Compulsory acquisition and delisting
    As Nykredit has obtained more than 90% of the share capital and voting rights in Spar Nord, excluding treasury shares held by Spar Nord, as a result of the Offer, Nykredit will, after completion of the Offer, seek to initiate and complete a compulsory acquisition of the Spar Nord shares held by the remaining minority shareholders in Spar Nord.

    In addition, Nykredit will request that Spar Nord seeks to have the Spar Nord shares removed from trading and official listing on Nasdaq Copenhagen A/S.

    Information about the compulsory acquisition and removal from trading and official listing of the Spar Nord shares will be announced separately.

    Relevant material is, subject to certain restrictions, made available at
    https://www.sparnord.com/investor-relations/takeover-offer

    Questions may be directed to Neel Rosenberg (media) on +45 25 27 04 33 or to CFO Rune Brandt Børglum (investors)on +45 96 34 42 36.

    Attachments

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  • MIL-OSI: UK businesses race to embed AI into enterprise workflows, EXL study finds

    Source: GlobeNewswire (MIL-OSI)

    LONDON, May 28, 2025 (GLOBE NEWSWIRE) — Businesses in the UK are making significant changes in the ways they work as they increasingly embed AI throughout their workflows and to scale and maximise ROI, according to new research by EXL [NASDAQ: EXLS], a global data and AI company. An 86% majority of organisations have significantly changed their operating model to accommodate AI, with 39% having completely redesigned how they work. Over the next year, companies expect half (50%) of their processes will include AI.

    The second annual EXL Enterprise AI Study: Driving Execution at Scale (UK Report) is based on a survey of 190 UK-based C-suite and other senior decision makers across the banking and finance, insurance, retail, utilities, and healthcare payer industries. Its findings shine a spotlight on the massive growth of enterprise GenAI implementations to date but also warn of data quality issues, talent shortages, and other roadblocks that could curtail some of the early progress companies have made as they move deeper into company-wide enterprise AI initiatives.

    The following are some of the report’s key findings:

    • Finance Leading the Charge: Leaders have emerged in the AI space, and the survey defines these organisations as those that have developed AI capabilities in at least five of the seven common business functions analysed in the report. Leaders were most likely to come from the banking and finance sector (18%), followed by utilities (16%), insurance (12%), and retail (10%).
    • Transforming to Enable AI in the Workflow: Organisations are developing new operating models to accommodate AI usage across their enterprise workflows. Overall, 86% of UK corporations have either made significant changes to their operating models (47%) or completely redesigned enterprise-wide operating models (39%) to integrate AI throughout their organisations.
    • Barriers Still Persist: Despite an average of £23.2 million per company in AI investment, barriers to adoption persist. The largest of these are cost or budget constraints, followed by concerns about data privacy and security, and the lack of a clear AI strategy or vision. What’s more, nearly 70% of companies say they have yet to achieve the data accessibility, efficiency, quality, consistency, and transparency required for AI to thrive in their organisations.
    • Companies Eye the Best Ways to Scale AI: Overall, 88% of respondents said it’s very or extremely important for their organization to scale their AI initiatives in the coming year. Executives ranked implementing AI governance (42%) and improving data quality and accessibility (42%) as their top priorities.
    • Retailers Eager to Make Larger Investments: Retailers are the most likely (42%) to say they are ramping up GenAI significantly, followed by utilities (30%), banking and finance (24%), and insurers (9%).

    “The only way large corporations can truly capitalise on the full power of AI is by integrating the technology into enterprise workflows,” said Anand “Andy” Logani, chief data and AI officer at EXL. “Executed well, the right AI strategy has the ability to deliver unmatched business value without disrupting core business functions.”

    The full report, 2025 EXL Enterprise AI Study: Driving AI Execution at Scale (UK Report), can be accessed here.

    About EXL

    EXL (NASDAQ: EXLS) is a global data and AI company that offers services and solutions to reinvent client business models, drive better outcomes and unlock growth with speed. EXL harnesses the power of data, AI, and deep industry knowledge to transform businesses, including the world’s leading corporations in industries including insurance, healthcare, banking and capital markets, retail, communications and media, and energy and infrastructure, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have approximately 60,000 employees spanning six continents. For more information, visit www.exlservice.com.

    Contacts
    Media
    Keith Little
    +1 703-598-0980
    media.relations@exlservice.com

    Investor Relations
    John Kristoff
    +1 212 209 4613
    IR@exlservice.com

    A PDF accompanying this announcement is available at http://ml.globenewswire.com/Resource/Download/516492ff-fe8c-4563-a2d3-10486840830b

    The MIL Network

  • MIL-Evening Report: There’s a new COVID variant driving up infections. A virologist explains what to know about NB.1.8.1

    Source: The Conversation (Au and NZ) – By Lara Herrero, Associate Professor and Research Leader in Virology and Infectious Disease, Griffith University

    VioletaStoimenova/Getty Images

    As we enter the colder months in Australia, COVID is making headlines again, this time due to the emergence of a new variant: NB.1.8.1.

    Last week, the World Health Organization designated NB.1.8.1 as a “variant under monitoring”, owing to its growing global spread and some notable characteristics which could set it apart from earlier variants.

    So what do you need to know about this new variant?

    The current COVID situation

    More than five years since COVID was initially declared a pandemic, we’re still experiencing regular waves of infections.

    It’s more difficult to track the occurrence of the virus nowadays, as fewer people are testing and reporting infections. But available data suggests in late May 2025, case numbers in Australia were ticking upwards.

    Genomic sequencing has confirmed NB.1.8.1 is among the circulating strains in Australia, and generally increasing. Of cases sequenced up to May 6 across Australia, NB.1.8.1 ranged from less than 10% in South Australia to more than 40% in Victoria.

    Wastewater surveillance in Western Australia has determined NB.1.8.1 is now the dominant variant in wastewater samples collected in Perth.

    Internationally NB.1.8.1 is also growing. By late April 2025, it comprised roughly 10.7% of all submitted sequences – up from just 2.5% four weeks prior. While the absolute number of cases sequenced was still modest, this consistent upward trend has prompted closer monitoring by international public health agencies.

    NB.1.8.1 has been spreading particularly in Asia – it was the dominant variant in Hong Kong and China at the end of April.


    Lara Herrero, created using BioRender

    Where does this variant come from?

    According to the WHO, NB.1.8.1 was first detected from samples collected in January 2025.

    It’s a sublineage of the Omicron variant, descending from the recombinant XDV lineage. “Recombinant” is where a new variant arises from the genetic mixing of two or more existing variants.

    The image to the right shows more specifically how NB.1.8.1 came about.

    What does the research say?

    Like its predecessors, NB.1.8.1 carries a suite of mutations in the spike protein. This is the protein on the surface of the virus that allows it to infect us – specifically via the ACE2 receptors, a “doorway” to our cells.

    The mutations include T22N, F59S, G184S, A435S, V445H, and T478I. It’s early days for this variant, so we don’t have much data on what these changes mean yet. But a recent preprint (a study that has not yet been peer reviewed) offers some clues about why NB.1.8.1 may be gathering traction.

    Using lab-based models, researchers found NB.1.8.1 had the strongest binding affinity to the human ACE2 receptor of several variants tested – suggesting it may infect cells more efficiently than earlier strains.

    The study also looked at how well antibodies from vaccinated or previously infected people could neutralise or “block” the variant. Results showed the neutralising response of antibodies was around 1.5 times lower to NB.1.8.1 compared to another recent variant, LP.8.1.1.

    This means it’s possible a person infected with NB.1.8.1 may be more likely to pass the virus on to someone else, compared to earlier variants.

    What are the symptoms?

    The evidence so far suggests NB.1.8.1 may spread more easily and may partially sidestep immunity from prior infections or vaccination. These factors could explain its rise in sequencing data.

    But importantly, the WHO has not yet observed any evidence it causes more severe disease compared to other variants.

    Reports suggest symptoms of NB.1.8.1 should align closely with other Omicron subvariants.

    Common symptoms include sore throat, fatigue, fever, mild cough, muscle aches and nasal congestion. Gastrointestinal symptoms may also occur in some cases.

    COVID is continuing to evolve.
    Joannii/Shutterstock

    How about the vaccine?

    There’s potential for this variant to play a significant role in Australia’s winter respiratory season. Public health responses remain focused on close monitoring, continued genomic sequencing, and promoting the uptake of updated COVID boosters.

    Even if neutralising antibody levels are modestly reduced against NB.1.8.1, the WHO has noted current COVID vaccines should still protect against severe disease with this variant.

    The most recent booster available in Australia and many other countries targets JN.1, from which NB.1.8.1 is descended. So it makes sense it should still offer good protection.

    Ahead of winter and with a new variant on the scene, now may be a good time to consider another COVID booster if you’re eligible. For some people, particularly those who are medically vulnerable, COVID can still be a serious disease.

    Lara Herrero receives funding from the National Health and Medical Research Council.

    ref. There’s a new COVID variant driving up infections. A virologist explains what to know about NB.1.8.1 – https://theconversation.com/theres-a-new-covid-variant-driving-up-infections-a-virologist-explains-what-to-know-about-nb-1-8-1-257552

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: ADVANT Nctm Selects iManage to Power Flexible, Secure Document and Email Management Across Global Legal Practice

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, May 28, 2025 (GLOBE NEWSWIRE) — iManage, the company dedicated to Making Knowledge Work™, today announced that ADVANT Nctm, one of Italy’s leading independent law firms, has selected iManage to transform its approach to document and email management.

    Firm cites iManage’s ability to enhance usability, ensure compliance, and support seamless collaboration across teams and geographies as key factors in selection.

    ADVANT Nctm chose iManage after a thorough evaluation of leading content management solutions. The firm emphasized the need for a platform that is intuitive for legal professionals, supports structured organization, and integrates smoothly with its macOS-based infrastructure. iManage stood out for its ability to support structured, user-friendly organization of content—while also delivering the advanced capabilities firms need to manage information securely, maintain visibility, and work more efficiently—crucial for efficient collaboration and secure knowledge management.

    “ADVANT Nctm has always been characterized by the very high interest in the development of legal tech solutions able of improving the work of lawyers and, consequently, the quality of services offered to clients,” said Patrizia Circosta, lawyer and Knowledge Manager of ADVANT Nctm. “It is with this purpose that the firm has decided to adopt iManage as a document management system to be combined with our iLex platform: we are confident that the integration of the two systems will give excellent results optimizing the quality of our work.”

    More than 350 professionals at ADVANT Nctm will use iManage to coordinate across matters, maintain consistent access to content, and ensure compliance with Italy’s rigorous cybersecurity requirements. The firm plans to integrate iManage into its existing identity and access management platform, enabling secure, streamlined access across teams and practice groups.

    Ounet Sistemi, iManage’s Italian partner, allowed the customer to evaluate the solution in all its components and placed in the context of the Italian market. Ounet Sistemi, thanks to the experience gained through projects carried out in Italy and abroad, guarantees the customer the support and consultancy necessary for the realization of a successful project.

    As part of the ADVANT alliance—with member firms in Germany and France that also use iManage—ADVANT Nctm will benefit from greater alignment in tools and processes, strengthening cross-border collaboration and knowledge sharing. The implementation underscores the firm’s commitment to leveraging trusted, enterprise-grade solutions to drive better business outcomes through secure, centralized knowledge management.

    “ADVANT Nctm’s selection of iManage reflects a growing demand across Europe for document and email management solutions that combine user-friendly design with robust governance,” said Suzanne Walmsley, Senior Director of European Sales at iManage. “Our AI-enabled platform is purpose-built to help knowledge workers operate smarter, faster, and safer—making it an ideal fit for firms like ADVANT Nctm that are focused on long-term productivity and client service.”

    Meet Us at Future Lawyer Europe – Milan

    iManage will be exhibiting at Future Lawyer Europe on May 28–29, 2025, at the Hotel Principe di Savoia in Milan. Visit us at Stand #2 to explore how our platform is helping legal professionals modernize knowledge work with smarter, more secure document and email management.

    About iManage
    iManage is dedicated to Making Knowledge Work™. Our cloud-native platform is at the center of the knowledge economy, enabling every organization to work more productively, collaboratively, and securely. Built on more than 20 years of industry experience, iManage helps leading organizations manage documents and emails more efficiently, protect vital information assets, and leverage knowledge to drive better business outcomes. As your strategic business partner, we employ our award-winning AI-enabled technology, an extensive partner ecosystem, and a customer-centric approach to provide support and guidance you can trust to make knowledge work for you. iManage is relied on by more than one million professionals at 4,000 organizations around the world. Visit www.imanage.com to learn more.

    Follow iManage via:
    LinkedIn: https://www.linkedin.com/company/imanage
    X: https://x.com/imanageinc
    YouTube: https://www.youtube.com/@iManage 

    Press contact:
    Alicia Saragosa, iManage
    press@imanage.com

    The MIL Network

  • MIL-OSI: Press Release: GAM Investments Strengthens European Equities Platform with Appointment of Leading Investment Team

    Source: GlobeNewswire (MIL-OSI)

    Zurich: 28 May 2025        

    PRESS RELEASE

    GAM Investments Strengthens European Equities Platform with Appointment of Leading Investment Team

    Tom O’Hara, Jamie Ross and David Barker join GAM Investments to manage flagship GAM Star European Equity and Continental European Equity funds

    GAM Investments is pleased to announce the appointment of a new European Equities team comprising Tom O’Hara, Jamie Ross and David Barker. As of 15 May 2025, the team has assumed investment management responsibilities for the GAM Star European Equity and GAM Star Continental European Equity funds.

    This highly regarded investment team brings with them a style-agnostic, high-conviction investment approach that complements GAM’s longstanding heritage in European equities. The appointment marks a further milestone in GAM’s transformation and ongoing commitment to investment excellence.

    Tom O’Hara, Investment Director, European Equities at GAM, commented: “It’s great to be joining GAM. This is a very exciting time in the company’s turnaround, supported by a long-term focused majority owner and a strong, investment-led culture that traces its roots to Gilbert de Botton. On a personal level, my investing career started thanks to John Bennett – who spent 17 years at GAM managing European Equities and always spoke highly of the firm’s investment ethos. So, it really feels like a natural fit for us to be here.”

    “Our approach will remain consistent with our past. We are managing a concentrated, high-conviction portfolio of around 30 stocks, using our straightforward and repeatable ‘All-in’ framework, added David Barker. This combines expected earnings growth, cash return and valuation change to assess whether a company’s return potential exceeds that of the broader market.”

    A core, consistent and transparent investment process

    While the team brings a fresh perspective, they remain committed to delivering a core, flexible, style-agnostic strategy which builds on the legacies of both GAM and their own history as successful European equity investors. Their process is grounded in fundamental research and offers clear, data-driven insights for clients.

    David Barker highlighted, “We want to be open-source. That means sharing our investment insights, process and return assumptions with clients transparently and consistently across all our communications.”

    A turning point for Europe

    The team also believes the macro backdrop is shifting decisively in Europe’s favour.

    “For decades, cheap valuations alone weren’t enough to catalyse change in Europe. But that’s no longer the case. Geopolitical realignment sparked, in part, by the return of Donald Trump who has done more for EU unity than any post-war president,” said Jamie Ross. “We’re seeing a more assertive Europe: a looser fiscal stance in Germany, more coherent messaging from EU leaders, and growing momentum for innovation, investment, and regulatory simplification.”

    “Europe has a generational opportunity to redefine itself that demands cohesive action across industrial policy, energy security and tech sovereignty. These shifts will create a new generation of winners across the region. We believe this marks a key turning point for the European equity market.”

    Elmar Zumbuehl, Group CEO of GAM Investments, added “We are delighted to welcome Tom, Jamie and David to GAM. Their fresh approach, tight teamwork and use of advanced technology to focus on what really matters fully embraces the transformational changes underway in active investing. Their arrival significantly strengthens our specialist active equity offering and with investor interest returning to Europe, we see this as a powerful step forward for GAM’s specialist active equities platform and our clients.”

    Investors are encouraged to contact their local GAM relationship manager to learn more about the strategies or meet the team through upcoming events, webinars and roadshows.

    Editorial Information:

    Video: Introduction to European Equities at GAM – Tom O’Hara, David Barker and Jamie Ross. https://www.gam.com/en/introducing-gam-investments-european-equities-team

    Team Bios:

    • Tom O’Hara, Investment Director, is responsible for the management of European Equity funds at GAM, alongside Jamie Ross and David Barker. Before joining GAM Investments in May 2025, he spent 7 years managing European equity funds at Janus Henderson Investors. Prior to this, he spent 8 years as a sell side equity research analyst covering the metals and mining sector. He began his career in the treasury of Northern Rock plc. He has 19 years of financial industry experience and received his BA degree (Hons) in economics from Newcastle University. He is passionate about the role of emerging technologies in shaping active investing and was an early investor in Quartr, a Swedish fintech platform, where he continues to serve as a non-executive adviser.
    • David Barker, Investment Manager, is responsible for the management of European Equity funds at GAM. Before joining GAM Investments in May 2025, he was a Research Analyst on the European Equities Team at Janus Henderson Investors, a position he had held since 2021. Prior to this, he was Research Analyst specialising in Aerospace & Defence and Industrials at Bank of America Merrill Lynch, where he started in 2017. David graduated with a BA degree in History from Somerville College, University of Oxford and has 9 years of financial industry experience.
    • Jamie Ross, Investment Manager, is responsible for the management of European Equity funds at GAM. Before joining GAM Investments in May 2025, he was a Portfolio Manager on the European Equities Team at Janus Henderson Investors, a position he had held since 2016. Prior to this, he was a portfolio manager on the UK Equities Team, where he co-managed a UK equities pooled fund. He started his career with Henderson in 2007. Jamie graduated with a BA degree (Hons) in economics from Durham University. He holds the Chartered Financial Analyst designation and has 18 years of financial industry experience.

    For further information please contact:

    Colin Bennett | GAM Media Relations
    T +44 (0) 20 73 938 544 
    colin.bennett@gam.com

    Visit us: www.gam.com
    Follow us: X and LinkedIn

    About GAM

    GAM Investments is a highly scalable global investment platform with strong global distribution capabilities focusing on three core areas, Specialist Active Investing, Alternative Investing and Wealth Management, that is listed in Switzerland. It delivers distinctive and differentiated investment solutions across its Investment and Wealth Management businesses. Its purpose is to protect and enhance clients’ financial future. It attracts and empowers brightest minds to provide investment leadership, innovation and a positive impact on society and the environment. Total assets under management were CHF 16.3 billion as of 31 December 2024. GAM Investments has global distribution with offices in 14 countries and is geographically diverse with clients in almost every continent. Headquartered in Zurich, GAM Investments was founded in 1983, and its registered office is at Hardstrasse 201 Zurich, 8037 Switzerland. For more information about GAM Investments, please visit www.gam.com.

    Other Important Information

    This release contains or may contain statements that constitute forward-looking statements. Words such as “anticipate”, “believe”, “expect”, “estimate”, “aim”, “project”, “forecast”, “risk”, “likely”, “intend”, “outlook”, “should”, “could”, “would”, “may”, “might”, “will”, “continue”, “plan”, “probability”, “indicative”, “seek”, “target”, “plan” and other similar expressions are intended to or may identify forward-looking statements.

    Any such statements in this release speak only as of the date hereof and are based on assumptions and contingencies subject to change without notice, as are statements about market and industry trends, projections, guidance, and estimates. Any forward-looking statements in this release are not indications, guarantees, assurances or predictions of future performance and involve known and unknown risks, uncertainties and other factors, many of which are beyond the control of the person making such statements, its affiliates and its and their directors, officers, employees, agents and advisors and may involve significant elements of subjective judgement and assumptions as to future events which may or may not be correct and may cause actual results to differ materially from those expressed or implied in any such statements. You are strongly cautioned not to place undue reliance on forward-looking statements and no person accepts or assumes any liability in connection therewith.

    This release is not a financial product or investment advice, a recommendation to acquire, exchange or dispose of securities or accounting, legal or tax advice. It has been prepared without taking into account the objectives, legal, financial or tax situation and needs of individuals. Before making an investment decision, individuals should consider the appropriateness of the information having regard to their own objectives, legal, financial and tax situation and needs and seek legal, tax and other advice as appropriate for their individual needs and jurisdiction.

    Attachments

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  • MIL-OSI: April Monthly Net Asset Value Estimate

    Source: GlobeNewswire (MIL-OSI)

    NBPE Announces April Monthly NAV Estimate

    St Peter Port, Guernsey 28 May 2025

    NB Private Equity Partners (NBPE), the $1.2bn1, FTSE 250, listed private equity investment company managed by Neuberger Berman, today announces its 30 April 2025 monthly NAV estimate.

    NAV Highlights (30 April 2025)

    • NAV per share was $27.29 (£20.43), a total return of 0.4% in the month
    • Approximately 62% of fair value based on private company valuation information as of Q1 2025 or based on 30 April 2025 quoted prices
    • Based on information received so far, private company valuations increased fair value by 0.4% during Q1 2025 on a constant currency basis
    • NBPE expects to receive additional updated Q1 2025 financial information which will be incorporated in future monthly NAV updates
    • $307 million of available liquidity at 30 April 2025
    • ~151k shares repurchased during April 2025 at a weighted average discount of 33% which were accretive to NAV by ~$0.02 per share. Year to date, NBPE has repurchased ~680k shares at a weighted average discount of 29% which were accretive to NAV by ~$0.10 per share
    As of 30 April 2025 Year to Date One Year 3 years 5 years 10 years
    NAV TR (USD)*
    Annualised
    0.8% 3.4% 4.1%
    1.4%
    87.7%
    13.4%
    160.7%
    10.1%
    MSCI World TR (USD)*
    Annualised
    (0.8%) 12.6% 39.0%
    11.6%
    96.6%
    14.5%
    157.2%
    9.9%
               
    Share price TR (GBP)*
    Annualised
    (8.0%) (8.9%) 3.6%
    1.2%
    99.0%
    14.7%
    189.5%
    11.2%
    FTSE All-Share TR (GBP)*
    Annualised
    4.3% 7.5% 22.6%
    7.0%
    67.9%
    10.9%
    75.9%
    5.8%

    * All NBPE performance figures assume re-investment of dividends on the ex-dividend date and reflect cumulative returns over the relevant time periods shown. Three-year, five-year and ten-year annualised returns are presented for USD NAV, MSCI World (USD), GBP Share Price and FTSE All-Share (GBP) Total Returns.

    Portfolio Update to 30 April 2025

    NAV performance during the month driven by:

    • 1.1% NAV increase ($13 million) attributable to changes in foreign exchange
    • 0.9% NAV decrease ($10 million) attributable to changes in prices of quoted holdings (which now constitute 5% of portfolio fair value)
    • 0.3% NAV increase ($4 million) from the value of private holdings
    • 0.2% NAV decrease ($3 million) attributable to expense accruals

    $53 million of realisations in 2025 year to date

    • $6 million of proceeds received during the month of April, consisting primarily of full and partial realisations of GFL, Corona Industrials and Inflection Energy

    $307 million of total liquidity at 30 April 2025

    • $97 million of cash and liquid investments with $210 million of undrawn credit line available

    2025 Share Buybacks

    • ~151k shares repurchased in April 2025 at a weighted average discount of 33%; buybacks were accretive to NAV by ~$0.02 per share
    • Year to date, NBPE has repurchased ~680k shares at a weighted average discount of 29% which were accretive to NAV by ~$0.10 per share

    Portfolio Valuation

    The fair value of NBPE’s portfolio as of 30 April 2025 was based on the following information:

    • 5% of the portfolio was valued as of 30 April 2025
      • 5% in public securities
    • 57% of the portfolio was valued as of 31 March 2025
      • 57% in private direct investments
    • 38% of the portfolio was valued as of 31 December 2024
      • 38% in private direct investments

    For further information, please contact:

    NBPE Investor Relations        +44 (0) 20 3214 9002
    Luke Mason        NBPrivateMarketsIR@nb.com  

    Kaso Legg Communications        +44 (0)20 3882 6644

    Charles Gorman        nbpe@kl-communications.com
    Luke Dampier
    Charlotte Francis

    Supplementary Information (as at 30 April 2025)

    Company Name Vintage Lead Sponsor Sector Fair Value ($m) % of FV
    Action 2020 3i Consumer 83.9 6.6%
    Osaic 2019 Reverence Capital Financial Services 66.9 5.3%
    Solenis 2021 Platinum Equity Industrials 59.8 4.7%
    BeyondTrust 2018 Francisco Partners Technology / IT 47.7 3.8%
    Monroe Engineering 2021 AEA Investors Industrials 44.7 3.5%
    Business Services Company* 2017 Not Disclosed Business Services 40.1 3.2%
    Branded Cities Network 2017 Shamrock Capital Communications / Media 38.9 3.1%
    True Potential 2022 Cinven Financial Services 35.2 2.8%
    Mariner 2024 Leonard Green & Partners Financial Services 33.7 2.7%
    FDH Aero 2024 Audax Group Industrials 32.9 2.6%
    Marquee Brands 2014 Neuberger Berman Consumer 31.4 2.5%
    GFL (NYSE: GFL) 2018 BC Partners Business Services 30.6 2.4%
    Staples 2017 Sycamore Partners Business Services 29.6 2.3%
    Auctane 2021 Thoma Bravo Technology / IT 29.1 2.3%
    Fortna 2017 THL Industrials 28.7 2.3%
    Viant 2018 JLL Partners Healthcare 27.3 2.2%
    Stubhub 2020 Neuberger Berman Consumer 26.4 2.1%
    Engineering 2020 NB Renaissance / Bain Capital Technology / IT 26.3 2.1%
    Benecon 2024 TA Associates Healthcare 25.5 2.0%
    Agiliti 2019 THL Healthcare 25.3 2.0%
    Kroll 2020 Further Global / Stone Point Financial Services 25.0 2.0%
    Solace Systems 2016 Bridge Growth Partners Technology / IT 24.6 1.9%
    Excelitas 2022 AEA Investors Industrials 24.1 1.9%
    Addison Group 2021 Trilantic Capital Partners Business Services 23.8 1.9%
    Exact 2019 KKR Technology / IT 23.3 1.8%
    CH Guenther 2021 Pritzker Private Capital Consumer 21.2 1.7%
    Bylight 2017 Sagewind Partners Technology / IT 19.9 1.6%
    Constellation Automotive 2019 TDR Capital Business Services 19.0 1.5%
    Real Page 2021 Thoma Bravo Technology / IT 18.8 1.5%
    Tendam 2017 PAI Consumer 18.3 1.4%
    Total Top 30 Investments                             $982.1 77.6%

    *Undisclosed company due to confidentiality provisions.

    Geography % of Portfolio
    North America 77%
    Europe 22%
    Asia / Rest of World 1%
    Total Portfolio 100%
       
    Industry % of Portfolio
    Tech, Media & Telecom 23%
    Consumer / E-commerce 22%
    Industrials / Industrial Technology 17%
    Financial Services 14%
    Business Services 12%
    Healthcare 9%
    Other 4%
    Energy 1%
    Total Portfolio 100%
       
    Vintage Year % of Portfolio
    2016 & Earlier 9%
    2017 16%
    2018 15%
    2019 13%
    2020 13%
    2021 18%
    2022 6%
    2023 2%
    2024 8%
    Total Portfolio 100%

    About NB Private Equity Partners Limited
    NBPE invests in direct private equity investments alongside market leading private equity firms globally. NB Alternatives Advisers LLC (the “Investment Manager”), an indirect wholly owned subsidiary of Neuberger Berman Group LLC, is responsible for sourcing, execution and management of NBPE. The vast majority of direct investments are made with no management fee / no carried interest payable to third-party GPs, offering greater fee efficiency than other listed private equity companies. NBPE seeks capital appreciation through growth in net asset value over time while paying a bi-annual dividend.

    LEI number: 213800UJH93NH8IOFQ77

    About Neuberger Berman
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    The MIL Network

  • MIL-OSI Asia-Pac: President Lai meets delegation led by US House Natural Resources Committee Chair Bruce Westerman

    Source: Republic of China Taiwan

    Details
    2025-05-27
    President Lai meets and hosts luncheon for delegation led by Governor Lourdes A. Leon Guerrero of Guam
    On the morning of May 27, President Lai Ching-te met with a delegation led by Governor Lourdes A. Leon Guerrero of Guam and her husband, and hosted a luncheon for the delegation at noon. In remarks, President Lai noted that this is the governor’s first trip to Taiwan, fully demonstrating the Guam government’s support and high regard for Taiwan. The president said that Guam, being the closest United States territory to Taiwan, is an important bridge for collaboration between Taiwan and the US. He stated that aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas to further advance industrial development for both sides. He said that, as we begin a new chapter, we look forward to working together to generate even more momentum in bilateral cooperation and exchanges. A translation of President Lai’s remarks follows: On behalf of the people of Taiwan, I extend a warm welcome to Governor Leon Guerrero and her delegation. Last year, I transited through Guam en route for visits to Taiwan’s diplomatic allies in the Pacific. The enthusiastic reception I received from the government, legislature, people, and members of our overseas community in Guam was very touching and left me with a deep impression. During the morning tea reception hosted by Governor Leon Guerrero, we joined in singing our respective national anthems, as well as the Fanohge CHamoru. I also received at the Guam Legislature a copy of a Taiwan-friendly resolution it passed on behalf of the people of Taiwan. And I still remember to this day the striking scenery of the governor’s house and the warm reception I received there. It is therefore a great pleasure to meet with all of you today here at the Presidential Office. This is Governor Leon Guerrero’s first trip to Taiwan. Your visit fully demonstrates the Guam government’s support and high regard for Taiwan. As we begin a new chapter, we look forward to working with you to generate even more momentum in bilateral cooperation and exchanges. Taiwan and Guam are like family. We share the Austronesian spirit and culture. Our wide-ranging and mutually-beneficial collaboration is very fruitful. And now, we are facing the challenges of climate change, public health and medicine, and regional security together. The world is rapidly changing and tensions in the Indo-Pacific continue to rise. But if we combine our strengths, come together as one, and enhance cooperation, we can maintain regional peace, stability, and prosperity. Last Tuesday, I delivered an address on my first anniversary of taking office. I mentioned that for many years, Taiwan, the US, and our democratic partners have actively engaged in exchange and cooperation. Taking a market-oriented approach, we will promote an economic path of staying firmly rooted in Taiwan and expanding the global presence of our enterprises while strengthening ties with the US. Guam is the closest US territory to Taiwan. It is an important bridge for collaboration between Taiwan and the US. Last month, we were pleased to see United Airlines officially launch direct flights between Taipei and Guam. I believe this will benefit tourism and economic and trade exchanges for both sides. In the area of health care, many hospitals in Taiwan already offer referral services to patients from Guam. Both Governor Leon Guerrero and I have backgrounds in medicine. It is my hope that Taiwan and Guam can continue to work hand in hand to create even more positive outcomes from cooperation in public health and medical services. During the governor’s visit, aside from promoting tourism, we can also explore even more opportunities for collaboration in other areas. There is potential for more exchanges in aquaculture, food processing, hydroculture, manufacturing, pharmaceuticals, and recycling. This will further advance industrial development in Taiwan and Guam. In closing, I thank Governor Leon Guerrero and all our distinguished guests for backing Taiwan. I wish you all a smooth and successful visit.  Governor Leon Guerrero then delivered remarks, saying that she is very happy to come to Taiwan. She said that after learning during President Lai’s visit to Guam last year that he is a medical doctor, she felt more relaxed because healthcare colleagues are one in their endeavor to help enhance the health and well-being of people. She then expressed her heartfelt appreciation for the invitation to Taiwan.  Governor Leon Guerrero said that as they learn more about opportunities for collaboration with Taiwan, they are humbled by the hospitality they have experienced. In both of our islands, she said, hospitality is more than just a custom – it forms a part of our identities. She noted that despite being nearly 2,000 miles apart, we are connected by the Pacific Ocean and common roots, and our ancestors both value family, community, and tradition. That is why being here today, she said, she feels a strong sense of familiarity, like reconnecting with old friends. The governor remarked that Taiwan has evolved so quickly in all areas of essential life, sustenance, economy, and prosperity, adding that Taiwan’s resources in such areas as health, education, data, AI, advanced technology, aquaculture, agriculture, and commerce enhance our economic stability. She stated her belief that in collaboration and support, and working with each other, we can gain prosperity, maintain freedom and democracy, and live in peace.  Governor Leon Guerrero stated that their delegation is here to see how they can partner with Taiwan to help raise the quality of life for both our peoples, mentioning that one special concern of theirs is tourism. Tourism, she said, is the most influential engine and driver for the economy and quality of life in Guam, but they cannot have a vibrant economy and tourism without air connectivity. She added that they are prepared to help in any way to provide incentives and low-cost fees so that they can get more airlines from Taiwan to establish permanent flight schedules to Guam, so as to drive development in Guam’s tourism industry. Governor Leon Guerrero then proceeded to introduce each of the members of her delegation before remarking that while they have been very busy on this visit they are always reminded of the freedom and democracy that the people must protect. She said she looks forward to a great, strong relationship between Taiwan and Guam in cooperation on social and economic issues, in culture, marketing, tourism, and freedom and democracy. Among those in attendance were First Gentleman Jeffrey A. Cook, Chief of Staff Jon Junior Calvo, Director of the Department of Administration Edward Birn, General Manager of the Guam Visitors Bureau Regine Biscoe Lee, Deputy Executive Manager of the Guam International Airport Authority Artemio “Ricky” Hernandez, Board of Directors Chairman of the Guam International Airport Authority Brian J. Bamba, Deputy General Manager of the Guam Economic Development Authority Carlos Bordallo, Director of Landscape Management Systems Guam Bob Salas, Chairperson of the Guam Chamber of Commerce Tae Oh, President of the University of Guam Anita Borja Enriquez, and Director of the Guam Taiwan Office Felix Yen (嚴樹芬). After the meeting, President Lai, accompanied by Vice President Bi-khim Hsiao, hosted a luncheon for Governor Leon Guerrero, her husband, and the delegation.

    Details
    2025-05-27
    President Lai meets delegation from European Parliament
    On the morning of May 27, President Lai Ching-te met with a delegation from the European Parliament. In remarks, President Lai thanked the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait and voice support for Taiwan. The president expressed hope for an even closer relationship and diversified cooperation between Taiwan and the European Union. The president said that Taiwan and the EU can work together in such areas as semiconductors, AI, and green energy to create more resilient supply chains for global democracies and contribute to global prosperity and development. A translation of President Lai’s remarks follows: I warmly welcome our guests to the Presidential Office. After being elected last year, MEPs Reinis Pozņaks and Beatrice Timgren are making their first visits to Taiwan, demonstrating support for Taiwan through concrete action. On behalf of the people of Taiwan, I extend my sincerest welcome and appreciation. I would also like to take this opportunity to thank the European Parliament for continuing to pay close attention to peace and stability across the Taiwan Strait. Just last month, the European Parliament adopted resolutions with regard to annual reports on the implementation of the European Union’s Common Foreign and Security Policy and Common Security and Defence Policy. These resolutions reaffirmed the EU’s steadfast commitment to maintaining the status quo across the Taiwan Strait. The European Parliament also condemned China for continuing to take provocative military actions against Taiwan and emphasized that Taiwan is a key democratic partner in the Indo-Pacific region. It called on the EU and its member states to continue working closely with Taiwan to strengthen economic, trade, and investment ties. Once again, I thank the European Parliament for voicing support for Taiwan. Just as MEPs Pozņaks and Timgren are visiting Taiwan to strengthen Taiwan-EU exchanges, our Minister of Economic Affairs Kuo Jyh-huei (郭智輝) also led a delegation to Europe last year, marking the first in-person dialogue between high-ranking economic and trade officials of Taiwan and the EU. Moving ahead, we look forward to bringing Taiwan-EU ties even closer and to diversifying our cooperation. The EU is Taiwan’s largest source of foreign investment. Both sides are highly complementary in such areas as semiconductors, AI, and green energy. Through our joint efforts, we can create more resilient supply chains for global democracies and further contribute to global prosperity and development. Looking ahead, I hope that MEPs Pozņaks and Timgren will continue to make the case in the European Parliament for the signing of a Taiwan-EU economic partnership agreement. This would not only yield mutually beneficial development, but also consolidate economic security and boost international competitiveness for both sides. In closing, I am sure that you will gain a deeper understanding of Taiwan through this visit. Please feel welcome to come back as often as possible as we continue to elevate Taiwan-EU ties.  MEP Pozņaks then delivered remarks, saying that it is a great honor to be here and thanking everybody involved in arranging this trip that allows them the opportunity to better know Taiwan. He added that it is definitely not the last time they will be here, as Taiwan is a very beautiful country. MEP Pozņaks mentioned that he comes from Latvia, and despite their being on the other side of the world, they know how the Taiwanese people feel, because they also have a big neighbor who is claiming that Latvia belongs to them. Unfortunately, he said, there is already war in Europe, but he is confident that their situation is similar to Taiwan’s, adding that they have a neighbor who uses disinformation attacks. MEP Pozņaks said that we live in very challenging times, and that our choices will define the future of the world, asking whether it will be a world where the rule of law prevails or where physical power and aggression succeeds. Coming from a small country, he said he clearly understands that for them there is no other possibility; they must protect the world where the rule of law prevails. That is why now, he emphasized, it is very crucial for all democracies around the world to stick together to protect our freedoms, values, and democracy. MEP Timgren then delivered remarks, thanking President Lai for meeting with them and saying it is a big honor. Noting that they arrived here two days ago and that while she really loves Taiwan, its food, and the good weather, she stated that the reason they are here is because of the values that we share, our good relationships, and solidarity with other democratic countries in the world, which is important for them in Europe and in Sweden. MEP Timgren, referring to MEP Pozņaks’s earlier remarks, said that they face a big threat from Russia that is discernible even in the European Parliament. Actually, she pointed out, there is a war inside Europe that shows us how important it is that we support one another. She said that the Russian people thought it would be easy to take over Ukraine, but it was not, because all European countries stepped up and provided weapons and support. And that is why, MEP Timgren said, it is important that democratic countries maintain good relationships and let China and Russia see that we have good relationships, because a part of defense is solidarity. In closing, she expressed her gratitude for having the honor to be here in this beautiful country.

    Details
    2025-05-20
    President Lai hosts state banquet for President Surangel Whipps Jr. of Republic of Palau
    On the evening of May 20, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, hosted a state banquet at the Presidential Office in honor of President Surangel Whipps Jr. of the Republic of Palau and his wife. In remarks, President Lai said that he looks forward to working closely with President Whipps to promote tourism exchanges and sports cooperation so that Taiwan and Palau shine brightly together on the international stage. A translation of President Lai’s remarks follows: It is a pleasure to host this banquet tonight at the Presidential Office for President Whipps, First Lady Valerie Whipps, and the esteemed members of their delegation. Welcome to Taiwan. During my trips to Palau in 2022 and last year, President and First Lady Whipps received me with great hospitality. Wearing my island shirt, I enjoyed a very friendly reception from the people of Palau. It felt warm and friendly, just like being welcomed back home. The first time I visited Palau, President Whipps and I piloted a boat to the Milky Way lagoon. We both tried volcanic mud facial masks. We also fished together and enjoyed the breeze as we walked on the beach. Last year, on my second visit to Palau, I was honored to be invited to address the National Congress. I also observed the results of the close bilateral cooperation between our two nations. Due to its world-famous ocean scenery, Palau is sometimes referred to as “God’s aquarium.” And it is even possible to snorkel with sharks. It leaves a deep impression. Nothing compares to seeing Palau firsthand. During the COVID-19 pandemic, Taiwan and Palau launched a travel bubble that created a safe means of travel. Now, with the pandemic behind us, I hope that even more Taiwanese can tour Palau and gain a greater understanding of our diplomatic ally. In addition to tourism exchanges, I mentioned on my visit to Palau last year that I hoped Taiwan and Palau could promote sports cooperation by providing training away from home. Next month, Palau will be holding the Pacific Mini Games. And right now, Palau’s national baseball and table tennis teams are holding training sessions here in Taiwan. We will do our utmost to support Palau’s national players and we hope they stand out and achieve outstanding results in the events. I look forward to working closely with President Whipps so that Taiwan and Palau shine brightly together on the international stage. Thank you! Mesulang! President Whipps then delivered remarks, saying that it is truly an honor to be here once again one year after President Lai’s inauguration. Mentioning that this is his first state visit after being reelected to a second term, he said that it is important to be here among friends, and that we are more than friends, we are family. He thanked President Lai for the generous words and, most importantly, Taiwan’s enduring support. He remarked that our relationship continues to get stronger in each passing year. President Whipps said that President Lai’s diplomacy initiative, leadership, and vision deeply resonate with them. Diplomacy must be rooted in our shared values, he said, and an unwavering support for our allies and a commitment to a sustainable, inclusive development are all deeply appreciated by their people. President Whipps emphasized that, as we look into the future and the challenges that we face, from security to climate change, it is so important that we are united. He added that it is important for the world, and especially important for them in Palau, that they stand up for Taiwan, so that Taiwan can participate on international fora that address climate change, security, and health, because they know the world is better when Taiwan has a seat at the table. Mentioning that Palau will host the Pacific Islands Forum next year, President Whipps said that Palau remains committed to working closely with Taiwan to ensure a successful event, and that they will continue to speak up for Taiwan’s indispensable contributions as we stand together against any efforts to silence or isolate democratic partners. President Whipps said that our nations have navigated challenges and emerged stronger, bound by a partnership that is built on trust, respect, and hope for a better world. Whether it is in clean energy, education, smart medicine, or tourism, our shared journey is just beginning, he said, and we are stronger together.  Also in attendance at the banquet were Palauan Minister of State Gustav Aitaro, Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.

    Details
    2025-05-20
    President Lai and President Surangel S. Whipps, Jr. of Palau hold bilateral talks and witness signing of cooperation agreements  
    On the afternoon of May 20, following a welcome ceremony with military honors for President Surangel S. Whipps, Jr. of the Republic of Palau and his wife, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Whipps at the Presidential Office. The two leaders also jointly witnessed the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation. In remarks, President Lai thanked Palau for standing firm in its backing of Taiwan’s international participation as geopolitical tensions continue to increase in the Pacific region. He added that he looks forward to the cooperative ties between Taiwan and Palau continuing to expand into even broader areas, allowing our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. A translation of President Lai’s remarks follows: I welcome our guests to Taiwan once again. Last year on May 20, President Whipps led a delegation to attend the inauguration ceremony for myself and Vice President Hsiao. I am delighted, on the anniversary of my first year in office, to meet with old friends of Taiwan again, as President Whipps returns for this visit. Taiwan-Palau relations have grown even closer in recent years thanks to the strong support of President Whipps. In 2022, during my term as vice president, I led a delegation to Palau as a demonstration of how our nations were together boosting tourism development as we jointly faced the challenges of the COVID-19 pandemic. Every time I visit Palau, and every time I meet with President Whipps, I feel very deeply that Taiwan and Palau are like family. We are both maritime nations and share a common Austronesian heritage and culture. We are also staunch partners in upholding such values as freedom, democracy, and respect for human rights. Last December, when I went on my first overseas trip since taking office, one of the nations I visited was Palau. We celebrated the 30th anniversary of Palau’s independence and 25 years of diplomatic relations, underscoring our friendly ties. Taiwan and Palau enjoy close exchanges and cooperation in a range of areas, including climate change, education, agriculture and fisheries, healthcare, humanitarian assistance, sports, and culture. After this meeting, President Whipps and I will witness the signing of a technical cooperation agreement and an agreement on diplomatic staff training cooperation, demonstrating once again our diverse collaboration and strong friendship. I believe that by working together, Taiwan and Palau can contribute to each other’s development and overcome the regional and global challenges we currently face. In particular, as geopolitical tensions continue to increase in the Pacific region, Palau has wisely and courageously upheld democratic values and stood firm in its backing of Taiwan’s international participation. Palau has never stopped voicing support for Taiwan, including at the United Nations General Assembly, the World Health Organization, the UN Framework Convention on Climate Change Conference of the Parties, and the UN Ocean Conference. We have been deeply moved by this support. I thank President Whipps again for his high regard and support for Taiwan. I look forward to the cooperative ties between our nations continuing to expand into even broader areas. This will allow our economies and societies to further progress as we jointly advance peace, stability, and prosperity in the Indo-Pacific region. President Whipps then delivered remarks, saying that it is a great honor for him to be here, standing in this historic place – a symbol of strength, resilience, and the democratic spirit of the Taiwanese people. On behalf of the government of Palau, President Whipps extended heartfelt gratitude to President Lai and the people of Taiwan for the warm welcome and gracious hospitality toward him and his delegation. President Whipps then extended sincere thanks for President Lai’s visit to Palau in December – his second visit to Palau – and for having Minister of Foreign Affairs Lin Chia-lung (林佳龍) attend his inauguration as a special envoy. He added that this also marks his third visit to Taiwan since President Lai took office, saying that this demonstrates the strength of our growing relationship. President Whipps indicated that the increased engagements and numerous entrepreneurs that President Lai has brought from Taiwan to Palau have resulted in fruitful visits, and that President Lai’s leadership represents hope, unity, and continued advancement of democracy and freedom, not only for Taiwan, but for the broader Indo-Pacific region. President Whipps went on to say that this visit to Taiwan reaffirms our deep friendship and shared values between our two nations. He emphasized that Palau and Taiwan are bound not by proximity, but by purpose, in that both are island nations and believe in human dignity, the rule of law, and the right of our people to determine their own futures. President Whipps stated that although we are celebrating 26 years of diplomatic relations, Taiwan has been a steadfast partner of Palau for decades, and that one of the MOUs they are signing further extends the relationship that began in December of 1984. From healthcare and medical missions, to education, agriculture, renewable energy, infrastructure, the private sector, tourism development, and climate resilience, he said, our cooperation has improved lives and strengthened our communities. The president also indicated that during the COVID-19 pandemic, Taiwan stood with Palau, noting that both sides began the tourism bubble, and that President Lai came to Palau to reopen the two weekly direct flights that have now been increased to four. That solidarity will never be forgotten, he said. As the world faces growing uncertainty and complex challenges from climate change to global tensions, President Whipps said, this friendship becomes even more vital. The president concluded his remarks by expressing hope that both nations continue to stand together, work together, and advocate together for peace, prosperity, and for the right of small nations to be seen, heard, and respected. After the bilateral talks, President Lai and President Whipps witnessed the signing of the technical cooperation agreement and the agreement on diplomatic staff training cooperation by Minister Lin and Palauan Minister of State Gustav Aitaro. The delegation also included Palauan Minister of Public Infrastructure and Industries Charles Obichang, Minister of Human Resources, Culture, Tourism and Development Ngiraibelas Tmetuchl, Senate Floor Leader Kerai Mariur, House of Delegates Floor Leader Warren Umetaro, High Chief of Ngiwal State Elliot Udui, Governor of Peleliu State Emais Roberts, and Governor of Koror State Eyos Rudimch.  

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI: Azerion publishes Interim Unaudited Financial Results Q1 2025

    Source: GlobeNewswire (MIL-OSI)

    Quarterly Report Q1 2025

    ..

    4th consecutive Q1 Year-on-Year growth 

    Highlights of Q1

    Throughout Q1 2025 we have continued our multi-year focus on efficiency and profitability; favouring long-term economic decisions over short-term opportunities. We have continued to invest in the platform and this is reflected in the performance outlined below, resulting in several record achievements since our listing early 2022:

    • Total Revenue of € 128.0 million in Q1 2025, up 7% from € 119.7 million in Q1 2024 and the 4th consecutive Q1 YoY revenue increase, mainly driven by higher spend across the Platform Segment particularly in AAA Game Distribution and the integration of past acquisitions, including The Moneytizer, Goldbach Austria and Produpress.
    • Adjusted EBITDA in Q1 2025 of € 11.7 million, an increase of 19% as compared to € 9.8 million in Q1 2024, another 4th Q1 YoY increase in as many years, largely driven by increased profitability in both our Premium Games and Platform segments.
    • EBITDA performance significantly improved to € 7.9 million as compared to € 4.7 million in Q1 2024, up 68% year over year as a result of synergies from acquisitions and continued focus on efficiency and profitability. For a detailed reconciliation of net income to adjusted EBITDA, please refer to Other information.

    A key driver of this performance is the consistent execution of our consolidation and integration plan initiated in 2023. By strengthening our core technical systems and team structures, we’ve built a foundation that enables us to regularly launch new features and onboard partners more efficiently.

    • Significant progress in advancing our product and technology roadmap, including the consolidation of Azerion’s ID Graph into one DMP, new features and automation for our DSP and SSP interfaces and setting the foundations for Agentic AI developments.
    • Signed 80 new publishers and connected 6 additional SSPs, 3 new DSPs and 1 supplementary Data source to expand our digital audiences across Europe and the Americas.
    • In parallel, we have designated investment and development resources to create Azerion Intelligence, a powerful Multi-Cloud and AI platform offering European businesses affordable access to open-source AI models, scalable cloud hosting, and a marketplace of AI-driven apps and agents tailored for digital marketing and publishing which was announced in Q2 2025. We see AI as significant opportunity to drive rapid and scalable revenue growth over the coming months and years.

    Attachment

    The MIL Network

  • Operation Sindoor outreach: After successful France visit, Indian delegation arrives in Italy

    Source: Government of India

    Source: Government of India (4)

    The all-party Indian parliamentary delegation led by BJP MP Ravi Shankar Prasad arrived in Italy early on Wednesday (Indian time) following a successful visit to France, conveying India’s strong anti-terror stance.

    The parliamentarians were received by India’s Ambassador to Italy Vani Rao on their arrival in Rome.

    “The All-Party Parliamentary Delegation led by Ravi Shankar Prasad, MP, arrived in Rome for wide-ranging interactions. They were received by Ambassador Vani Rao. The delegation will convey India’s firm and united message against cross-border terrorism in the context of Operation Sindoor,” the Indian Embassy in Rome posted on X.

    The nine-member delegation includes: Ravi Shankar Prasad (BJP), Daggubati Purandeswari (BJP), Priyanka Chaturvedi (Shiv Sena-UBT), Ghulam Ali Khatana (BJP), Amar Singh (Congress), Samik Bhattacharya (BJP), M. Thambidurai (AIADMK), former Union Minister M.J. Akbar and former Ambassador Pankaj Saran.

    In Italy, the delegation will meet several top leaders, academia, think tanks and community members to brief them about Operation Sindoor and India’s ‘new normal’ message against terrorism.

    During their engagements in France on Tuesday, the delegation held interactions with senior journalists from leading French and international media outlets.

    The conversation focused on India’s firm and unwavering stance against terrorism. The delegates conveyed that India remains resolute in its efforts to counter terrorism and called for greater international solidarity on this critical global challenge.

    “Following the media interaction, the delegation held meetings at the French National Assembly with Members of Parliament led by Thierry Tesson, President of the France-India Friendship Group. Later, at the French Senate, they met with Senators from the France-India Friendship Group led by Vice President Jacqueline Eustache-Brinio, along with members of the Senate Committee on Foreign Affairs and Defence,” the Embassy said in a statement.

    Throughout the meetings, the Ravi Shankar Prasad-led MPs underlined India’s deep commitment to combating terrorism in all its forms and manifestations.

    “The French parliamentarians expressed strong solidarity with India’s position, and support in the fight against terrorism, and reaffirmed the shared values that underpin the France-India strategic partnership,” the statement added.

    Ravi Shankar Prasad on Tuesday took to social media, mentioning the details of the interaction in Paris, in which they highlighted designated terrorists taking shelter in Pakistan and India’s response following the April 22 Pahlagam terror attack.

    “Today, along with my delegation colleagues, I interacted with the French media in Paris. We briefed them about India’s actions against Pakistan-sponsored terrorism. Yesterday, we had a wonderful interaction with a think tank. We also spoke to a large number of Indians staying in Paris and other parts of France. They heard with a great degree of pain about the unfortunate tragedy of innocent Indian lives being killed in a barbaric manner, and the way India has responded. On the issue of terrorism, the whole world needs to speak in one voice,” Prasad posted on X.

    Prasad highlighted that there are several UN-designated terrorists in Pakistan, out of whom many were killed during India’s precision strikes. He said that the delegation conveyed India’s message in “very unmistakable terms.”

    “This time, we have responded very conclusively with lethal power, attacking terrorist camps and their air force installations. As a result, Pakistan has asked for peace,” Prasad said.

    (With inputs from IANS)

  • MIL-OSI Russia: Chinese Scientists Develop AI Model to Predict Stellar Flares

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    BEIJING, May 28 (Xinhua) — Chinese scientists have developed an advanced artificial intelligence (AI) model “FLARE” to predict stellar flares, opening up new horizons for astronomical research, the Institute of Automation under the Chinese Academy of Sciences (CAS) said Tuesday.

    The model, created jointly by researchers from the above-mentioned institute and the State Astronomical Observatory of the Academy of Sciences, uses the integrated ScienceOne intelligent platform to analyze stellar data and predict magnetic eruptions on stars.

    According to Chen Yingying, a leading researcher at the Institute of Automation at the CAS, stellar flares are sudden bursts of energy caused by the release of magnetic fields in the atmospheres of stars. They contain key clues to understanding the structure of stars, their evolution, magnetic activity, and the habitability potential of exoplanets.

    “The studies have shown that various physical properties of stars, such as age, rotation speed and mass, as well as the history of previous outbursts, are closely related to the occurrence of stellar outbursts,” Chen Yingying said.

    However, limited observational data have hindered comprehensive studies. Accurately predicting the timing of stellar outbursts has become an important task in astronomical research, Chen Yingying emphasized.

    FLARE bridges this gap with a unique architecture that integrates the physical properties of stars with their flare history.

    A research paper describing the development of “FLARE” was accepted at the 34th International Joint Conference on Artificial Intelligence /IJCAI/, one of the most prestigious global events in the field of AI. -0-

    MIL OSI Russia News

  • MIL-OSI New Zealand: R&D Tax Credit Software

    Source: Press Release Service

    Headline: R&D Tax Credit Software

    TaxTrex is one of the most advanced AI language models platform developed by Swanson Reed, designed to assist New Zealand businesses in efficiently claiming the Research and Development Tax Incentive (RDTI).

    The post R&D Tax Credit Software first appeared on PR.co.nz.

    MIL OSI New Zealand News

  • MIL-OSI China: Full text: Remarks by Chinese Premier Li Qiang at the ASEAN-China-GCC Summit

    Source: People’s Republic of China – State Council News

    KUALA LUMPUR, May 28 — Chinese Premier Li Qiang on Tuesday addressed the ASEAN (the Association of Southeast Asian Nations)-China-GCC (the Gulf Cooperation Council) Summit in Kuala Lumpur, Malaysia.

    The following is the full text of his remarks at the summit:

    Remarks by H.E. Li Qiang

    Premier of the State Council of the People’s Republic of China

    At the ASEAN-China-GCC Summit

    Kuala Lumpur, May 27, 2025

    Your Honorable Prime Minister Dato’ Seri Anwar Ibrahim,

    Your Highness Crown Prince Sabah Khalid Al-Hamad Al-Sabah,

    Colleagues,

    It gives me great pleasure to join you in Kuala Lumpur. First of all, the Chinese side would like to extend sincere appreciation to Prime Minister Anwar Ibrahim for his vision in proposing the ASEAN-China-GCC Summit. We also wish to express our heartfelt thanks to the Malaysian government for the dedicated efforts and thoughtful arrangements made for the summit.

    China, ASEAN and GCC countries have a long history of friendly interactions, with exchanges and cooperation between us spanning thousands of years from the ancient Silk Road to the Belt and Road Initiative. Today, against a volatile international landscape and sluggish global growth, the establishment of the ASEAN-China-GCC Summit creates a platform for exchanges and a mechanism for cooperation. It is a groundbreaking initiative in regional economic cooperation that has carried forward the legacy of history, and more importantly, answered the call of the times. If we take a look at the world map and draw a line between China, ASEAN and the GCC, we will get a big triangle. As we know, triangle is the most stable structure. By enhancing connectivity and cooperation, we can pool our resources, production capacity and markets to foster a vibrant economic circle and growth pole. This is highly important both to our respective economic prosperity and to peace and development in Asia and the world. We should firmly seize this historic opportunity to enrich the trilateral cooperation, and set a fine example for global cooperation and development in this era.

    First, we should set a fine example of opening up across regions. Together, China, ASEAN and the GCC account for roughly a quarter of the world’s population and economic output. Our markets, if fully connected, will generate even greater space for development and more substantial economies of scale. The China-ASEAN Free Trade Area 3.0 upgrade negotiations have been fully concluded. It is hoped that the negotiations for the China-GCC Free Trade Agreement can also be concluded as early as possible to take trilateral trade to a higher level. We should firmly expand regional opening up, and develop a big market with more efficient mobility of resources, technologies and talents and enhanced trade and investment liberalization and facilitation to fully unlock the huge potential of open development.

    Second, we should set a fine example of cooperation across development stages. Countries of the three sides are at different stages of development, yet we should not let these differences stand in the way of our cooperation, but transform them into complementary strengths that we can harness. China is ready to, on the basis of mutual respect and equality, work with ASEAN and the GCC to strengthen the alignment of development strategies, increase macro policy coordination, and deepen collaboration on industrial specialization. We should make efforts to turn our respective strengths into collective strengths, and help each other tackle development challenges. We should create a new model of international industrial and economic cooperation, and strive for coordinated development where everyone does its level best, efficiency is multiplied, and benefits are shared.

    Third, we should set a fine example of inter-civilization integration. Countries of the three sides have diverse civilizations. At the same time, we all belong to the same Asian family and share the same Asian values of peace, cooperation, openness and inclusiveness. We should deepen people-to-people exchanges to further consolidate the foundation for mutual trust. We should effectively manage differences in the spirit of mutual understanding, advance win-win cooperation through the exchange of ideas, and explore a new way for promoting the inclusiveness and common progress of different civilizations. China actively supports Prime Minister Anwar’s initiative on Islam-Confucianism dialogue. We are ready to work with ASEAN and the GCC to implement the Global Civilization Initiative, promote mutual learning among civilizations, and pool more consensus and strengths for peace and development.

    Today, we have established the trilateral cooperation mechanism and drawn up a promising vision of joint development. What’s more important now is for all sides to take concrete actions and advance substantive cooperation.

    Between our three sides, we should work together to promote cooperation in key areas and achieve more effective common development. China is ready to discuss with ASEAN and the GCC a trilateral action plan on high-quality Belt and Road cooperation. We should enhance synergy and connectivity in infrastructure, market rules and payment systems, actively consider establishing a regional business council, deepen economic integration, and make development more resilient and efficient. While expanding cooperation in traditional areas such as energy and agriculture, we also need to step up cooperation in emerging areas such as AI, the digital economy, and green and low-carbon development to foster and cultivate new growth drivers. We should also respond to our people’s aspiration for enduring friendship, and deepen people-to-people exchanges. To promote travels and people-to-people bond between the three sides, China has decided to roll out an “ASEAN visa” for Southeast Asian countries offering five-year multiple-entry visas to eligible applicants for business and other purposes, and to extend unilateral visa-free policy to Saudi Arabia, Oman, Kuwait, and Bahrain on a trial basis, which will effectively give visa-free status to all GCC countries.

    At the global level, we should always stand on the right side of history and add more positive energy to world peace and development. We should pursue equal, mutually beneficial, open, inclusive, practical and efficient cooperation, and, through our example, encourage the international community to uphold multilateralism and free trade and reject unilateralism and protectionism. China will work with ASEAN and GCC countries to step up communication and coordination in multilateral mechanisms including the United Nations, vigorously defend the common interests of developing countries, categorically oppose hegemonism and power politics, and make global governance more just and equitable.

    As President Xi Jinping noted, “For us to break through the mist and embrace a bright future, the biggest strength comes from cooperation, and the most effective way is through solidarity.” China will join ASEAN and the GCC in fostering synergies that multiply rather than simply add our individual strengths, and inject strong impetus into our common development and prosperity. I am confident that through our concerted efforts, trilateral cooperation will continue to produce positive results and deliver more benefits to our people, thereby making greater contributions to peace and development in Asia and the world.

    Thank you.

    MIL OSI China News

  • MIL-OSI China: US stocks advance as Trump eases EU tariff threat

    Source: People’s Republic of China – State Council News

    U.S. stocks ended higher on Tuesday, after U.S. President Donald Trump softened his stance on tariff threats toward the European Union, signaling that trade negotiations were regaining momentum.

    The Dow Jones Industrial Average rose 740.58 points, or 1.78 percent, to 42,343.65. The S&P 500 added 118.72 points, or 2.05 percent, to 5,921.54. The Nasdaq Composite Index increased by 461.96 points, or 2.47 percent, to 19,199.16.

    All of the 11 primary S&P 500 sectors ended in green, with consumer discretionary and technology leading the gainers by rising 3.04 percent and 2.55 percent, respectively. Utilities posted the weakest growth, up by 0.77 percent.

    Over the weekend, Trump announced he would delay a planned 50 percent tariff on EU imports until July 9, following a request from European Commission President Ursula von der Leyen. The delay came after Trump had previously proposed implementing the levy on June 1.

    U.S. National Economic Council Director Kevin Hassett told CNBC’s Squawk Box that he anticipates more trade deals could be finalized this week.

    Investor optimism was also buoyed by stronger-than-expected U.S. consumer confidence data for May, with hopes for trade resolutions helping lift sentiment. According to The Conference Board, U.S. consumer sentiment improved across all age and income groups, signaling a broad recovery in outlook.

    On the corporate front, Tesla jumped 6.94 percent after its CEO Elon Musk said he was shifting focus away from political distractions and back to his business ventures. U.S. Steel climbed nearly 2 percent after CNBC reported that Japan’s Nippon Steel is close to finalizing its 55-U.S.-dollars-per-share acquisition of the company.

    The rally marked a strong start to the shortened trading week, as markets reopened following the Memorial Day holiday. The advance was broad-based, with over 90 percent of S&P 500 stocks closing higher, and small-cap stocks also rallied, pushing the Russell 2000 index up 2.48 percent.

    Tuesday’s gains came after a tough week for Wall Street, where all three major indexes — the Dow, S&P 500, and Nasdaq — fell more than 2 percent on fears sparked by Trump’s initial tariff threats toward the EU.

    “It seems like the long holiday weekend only built up momentum for today’s sharp rebound,” said Dann Ryan, managing partner at Sincerus Advisory. “The trade tensions that briefly flared up have already cooled down — and now it looks like negotiations are moving into the fast lane.”

    U.S. Treasury bonds spearheaded a broader decline in global bond yields on Tuesday, as markets welcomed signs that Japan may take steps to stabilize its bond market, which recently saw long-term government debt yields spike to multi-decade highs. The 30-year U.S. Treasury yield eased back to around 4.94 percent.

    Attention is now shifting to a busy week of economic data releases, as well as upcoming comments from Federal Reserve officials, who are widely expected to maintain current interest rates, consistent with previous guidance. Meanwhile, Trump’s controversial tax bill remains in focus after narrowly clearing the House of Representatives last week.

    Nvidia rose 3.21 percent following reports that the company is preparing to release a lower-cost AI chip for China, just ahead of its highly anticipated earnings report on Wednesday, one of the most closely watched of the quarter. Other companies set to report this week include Okta, Macy’s, and Costco. According to FactSet, over 95 percent of S&P 500 companies have reported earnings this season, with nearly 78 percent exceeding analysts’ expectations. 

    MIL OSI China News

  • MIL-OSI: GDS Announces Proposed Offering of US$450 Million Convertible Senior Notes

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company plans to use the net proceeds from the Notes Offering for working capital needs and the refinancing of its existing indebtedness, including potential future negotiated repurchases, or redemption upon exercise of the investor put right, of its convertible bonds due 2029.

    When issued, the Notes will be senior unsecured obligations of GDS. The Notes will mature on June 1, 2032, unless earlier redeemed, repurchased or converted in accordance with their terms prior to such date.

    Prior to the close of business on the business day immediately preceding December 1, 2031, the Notes will be convertible only upon satisfaction of certain conditions and during certain periods. On or after December 1, 2031 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders may convert their Notes at their option at any time. Upon conversion, the Company will pay or deliver, as the case may be, cash, the Company’s American depositary shares, each representing eight Class A ordinary shares (the “ADSs”), or a combination of cash and ADSs, at the Company’s election. Holders may also elect to receive Class A ordinary shares in lieu of any ADSs deliverable upon conversion, subject to certain procedures and conditions set forth in the terms of the Notes. The interest rate, initial conversion rate and other terms of the Notes will be determined at the time of pricing of the Notes.

    The Company may redeem for cash all but not part of the Notes (i) in the event of certain tax law changes (a “Tax Redemption”) and (ii) if less than 10% of the aggregate principal of amount of notes originally issued (for the avoidance of doubt, including the notes issued upon the exercise of the initial purchasers’ option to purchase additional notes) remains outstanding at such time (a “Cleanup Redemption”). The Notes will not be redeemable before June 6, 2029, except in connection with a Tax Redemption or Cleanup Redemption. On or after June 6, 2029 and on or prior to the 40th scheduled trading day immediately prior to the maturity date, the Notes will be redeemable, in whole or in part, for cash at the Company’s option at any time, and from time to time, if (x) the notes are “freely tradable” (as will be defined in the indenture for the Notes), and all accrued and unpaid additional interest, if any, has been paid in full, as of the date we send such notice and (y) the last reported sale price of the ADSs has been at least 130% of the conversion price then in effect on (i) each of at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period ending on, and including, the trading day immediately prior to the date the Company provides notice of redemption and (ii) the trading day immediately preceding the date the Company sends such notice (such redemption, an “Optional Redemption”). The redemption price in the case of a Tax Redemption, Cleanup Redemption or an Optional Redemption will equal 100% of the principal amount of the Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the related redemption date.

    Holders of the Notes may require the Company to repurchase for cash all or part of their Notes on June 1, 2029. In addition, holders of the Notes have the option, subject to certain conditions, to require the Company to repurchase any Notes held in the event of a “fundamental change” (as will be defined in the indenture for the Notes). The repurchase price, in each case, will be equal to 100% of the principal amount of the Notes to be repurchased, plus accrued and unpaid interest, if any, to, but excluding, the applicable repurchase date.

    The Company expects that certain purchasers of the Notes may establish a short position with respect to its ADSs by short selling its ADSs or by entering into short derivative positions with respect to its ADSs (including entering into derivatives with an affiliate of an initial purchaser in the Notes Offering), in each case, in connection with the Notes Offering. Any of the above market activities by purchasers of the Notes could increase (or reduce any decrease in) or decrease (or reduce any increase in) the market price of the Company’s ADSs or the Notes at that time, and the Company cannot predict the magnitude of such market activity or the overall effect it will have on the price of the Notes or its ADSs.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Delta Placement of Borrowed ADSs”) of a certain number of its ADSs (the “Borrowed ADSs”) that the Company will lend to an affiliate (the “ADS Borrower”) of an initial purchaser in the Notes Offering in order to facilitate privately negotiated derivative transactions by some holders of the Notes for purposes of hedging their investment in the Notes. The Company expects to enter into an ADS lending agreement (the “ADS Lending Agreement”) with the ADS Borrower pursuant to which the Company will lend the Borrowed ADSs to the ADS Borrower. The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs and the Company will not receive any of those proceeds, but the ADS Borrower will pay the Company a nominal lending fee for the use of those ADSs pursuant to the ADS Lending Agreement. The activity described above could affect the market price of the Company’s ADSs or the Notes otherwise prevailing at that time.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Primary ADSs Offering”) of 5,200,000 ADSs (the “Primary ADSs”), subject to market and other conditions. The underwriters in the Primary ADSs Offering will have a 30-day option to purchase up to 780,000 additional ADSs.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes, the Borrowed ADSs or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADSs Offering is conditioned upon the closing of each of the other offerings and vice versa. If the Notes Offering is not consummated, the concurrent Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the concurrent Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    The Notes, the ADSs deliverable upon conversion of the Notes, if any, and the Class A ordinary shares represented thereby or deliverable upon conversion of Notes in lieu thereof, have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”) or any state securities laws, and are being offered and sold in the United States only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    The MIL Network

  • MIL-OSI: Brooge Energy Limited Announces Proposed Sale of BPGIC FZE and BPGIC Phase III FZE

    Source: GlobeNewswire (MIL-OSI)

    DUBAI, May 27, 2025 (GLOBE NEWSWIRE) — Brooge Energy Limited, (“BEL“) (NASDAQ: BROG), a Cayman Islands-based infrastructure provider, which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services, today announced entering into a conditional sale and purchase agreement (the “Acquisition Agreement“) for the proposed sale of 100% of the total issued share capital of each of Brooge Petroleum and Gas Investments Company FZE (“BPGIC FZE“) and Brooge Petroleum and Gas Investment Company Phase III FZE (“BPGIC Phase III FZE“, collectively with their subsidiaries referred to as the “BPGIC Group“), to Gulf Navigation Holding PJSC (“GulfNav“) (the “Transaction“).

    Key highlights:  This acquisition is part of GulfNav’s long-term vision to become a key player in the energy sector by expanding its storage and logistics capabilities with BPGIC Group’s state-of-the-art infrastructure, which includes advanced facilities for the storage of fuel oil, crude oil, and petroleum products. These assets will complement GulfNav’s existing operations and allow them to provide an integrated storage and transportation solution. The integration of the two businesses is expected to drive operational efficiencies, enhance service offerings, and create substantial value for stakeholders.

    BEL’s Board of Directors commented, “We are pleased to be nearing the closing of our strategic transaction with GulfNav. After careful diligence by both parties, we have outlined the proposed terms and conditions the Board believes is in the best interest of ensuring long-term value creation for our shareholders.”

    Principal Terms and Conditions of the Acquisition Agreement

    Consideration Structure  

    The total consideration (the “Consideration“) payable under the Transaction amounts to c. USD 884 million (AED 3,245,000,000). This Consideration will be satisfied through the following means:

    1. Cash Consideration: c. USD 125.3 million (AED 460,000,000) in cash, which will be paid as follows:
      1. c. USD 65 million (AED 239,650,000) will be paid into the Completion Escrow Account (subject to any deductions of transaction expenses and for known leakage (if any)); and
          1. c. USD 60 million (AED 220,350,000) will be paid into an escrow account for the benefit of ASMA Capital Partners B.S.C.(c) (“ASMA“) in connection with the settlement of certain outstanding liabilities of BPGIC Holdings Limited (under liquidation) to ASMA’s subsidiary, MENA Energy Services Holdings Limited, in order to facilitate the conclusion of the Transaction.
            1. Consideration Shares: The allotment and issue on completion of 358,841,476 ordinary shares in the share capital of GulfNav, credited as fully paid, at a price of USD 0.34 (AED 1.25) per share, with a total subscription price of c. USD 122 million (AED 449 million).    
            1. Mandatory Convertible Bonds: c. USD 636 million (AED 2,336 million) to be satisfied by the issue by GulfNav on completion of Mandatory Convertible Bonds, which will convert into ordinary shares in the share capital of GulfNav in accordance with the terms of such Mandatory Convertible Bonds. The Mandatory Convertible Bonds (upon their conversion into shares in GulfNav) will entitle the holder to the same economic benefits as the Consideration Shares.

            The Consideration Shares and any Mandatory Convertible Bonds which will convert into shares in the share capital of GulfNav will be subject to a 12-month lock-up period from their date of issuance or conversion, as the case may be.

            The Consideration is expected to be distributed by way of dividend at an appropriate time following completion.

            Conditions to completion of the Transaction

            Under the terms of the Acquisition Agreement, completion of the Transaction is conditional upon customary conditions, including:

            (a)                Shareholder Approval – GulfNav’s shareholders passing a special resolution to approve the amendment of its articles of association to remove any foreign ownership restrictions;

            (b)               Regulatory Approval – GulfNav obtaining all necessary regulatory approvals of the Transaction, including an mandatory tender offer waiver, issuance and transferability of the Mandatory Convertible Bonds and the admission of the Consideration Shares;

            (c)                GulfNav Consents – GulfNav obtaining written consent to the Transaction from certain third parties;

            (d)               First Mandatory Convertible Bond Offering – GulfNav successfully completing a capital raise (via the issuance of mandatory convertible bonds to existing shareholders) in order to fund the Cash Consideration element of the Consideration;

            (e)                BEL Consents – BEL obtaining written consent to the Transaction from certain third parties, including bondholders;

            (f)                Settlement of Claims – BEL entering into formal agreements for the full and final settlement of certain claims related to the BPGIC Group; and

            (g)               Commercial Registration – completion of the commercial registration process with the Fujairah Free Zone Authority to transfer the shares of the BPGIC Group by BEL to GulfNav.

            Other noteworthy terms

            BEL and GulfNav will each provide a customary set of warranties, as is typical in transactions of similar nature. 

            Completion is expected to occur within five Business Days after the satisfaction (or, if capable of waiver, waiver) of any applicable conditions in accordance with the terms of the Acquisition Agreement.

            BEL and GulfNav will endeavor to complete the Transaction as soon as practicable, and in any event prior to the Long Stop Date, being the date falling three months from the date of the Acquisition Agreement unless otherwise agreed by the parties.

            Following completion, each  party is expected to have pro-rata representation on the board of directors of GulfNav in accordance with applicable laws and regulations in the United Arab Emirates.

            BEL expects to provide further information regarding the distribution of the Consideration to BEL’s shareholders and other beneficiaries nearer the time of completion.  The Consideration Shares and Mandatory Convertible Bonds and other securities of GulfNav have not been and will not be registered under the US Securities Act of 1933, as amended (the “Securities Act“), and may not be offered or sold in the United States except pursuant to an applicable exemption from, or in a transaction not subject to the registration requirements of the Securities Act. The issuer of the securities has not registered, and does not intend to register, any portion of the offering in the United States, and does not intend to conduct a public offering of securities in the United States.

            About Brooge Energy Limited

            BEL is a Cayman Islands-based infrastructure provider which is engaged in Clean Petroleum Products and Biofuels and Crude Oil storage and related services. BEL conducts the business and operations through its subsidiary BPGIC FZE. BPGIC FZE is strategically located outside the Strait of Hormuz at the Port of Fujairah in the Emirate of Fujairah in the UAE. Its business differentiates itself from competitors by providing customers with fast order processing times, excellent customer service and high accuracy blending services with low product losses.

            About Gulf Navigation Holding PJSC

            GulfNav is a prominent maritime and shipping company based in Dubai, UAE. With a diverse fleet and comprehensive services, GulfNav is committed to delivering excellence in the maritime industry.

            Forward-Looking Statements

            This press release contains statements that are not historical facts and constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements reflect management’s current views based on certain assumptions, and they involve risks and uncertainties. Actual results, events or performance may differ materially from the forward-looking statements due to a number of important factors, and will be dependent upon a variety of factors, including risks described in public reports filed by BEL with the SEC. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. BEL does not undertake any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

            Investor Contact
            KCSA Strategic Communications
            Valter Pinto, Managing Director
            +1 212-896-1254
            BROG@kcsa.com

        The MIL Network

  • MIL-OSI: DMG Blockchain Solutions Inc. Announces Enablement of Carbon Neutral Bitcoin Transactions via Systemic Trust Company

    Source: GlobeNewswire (MIL-OSI)

    VANCOUVER, British Columbia, May 27, 2025 (GLOBE NEWSWIRE) — DMG Blockchain Solutions Inc. (TSX-V: DMGI) (OTCQB US: DMGGF) (FRANKFURT: 6AX) (“DMG” or the “Company”), a vertically integrated data center and digital asset technology company, announces that DMG’s digital asset custody subsidiary, Systemic Trust Company (“STC”) has added the capability to send bitcoin in a regulatory compliant and carbon neutral manner.

    This enablement is the keystone that bridges the key pillars of DMG’s carbon-neutral Bitcoin ecosystem – STC, whose platform is built on Fireblocks’ custody solution, and Terra Pool, the world’s first carbon neutral Bitcoin mining pool. By utilizing Fireblocks, a proven and trusted solution for wallet infrastructure, users can be assured of the security and integrity of their digital asset holdings when they are stored and subsequently sent. In turn, DMG’s Petra technology empowers bitcoin transactions from STC’s Petra-enabled wallets to be sent via Terra Pool, which removes the risk of commingling with nefarious actors and utilizes energy from carbon neutral energy sources, a highly sought after capability increasingly demanded by financial institutions globally.

    DMG’s CEO, Sheldon Bennett, commented: “Integrating Petra technology with Fireblocks’ custody solution achieves a key milestone for enabling DMG’s carbon neutral Bitcoin ecosystem, as it allows not only Systemic Trust being able to send bitcoin in a regulatory-compliant and carbon neutral manner but also the much larger ecosystem of Fireblocks’ 2000+ customers. Our goal remains to provide financial institutions, government and enterprises choice as to how they transact bitcoin, and this is a key advancement that can broadly give them that choice, all the while advancing our burgeoning collaboration with Fireblocks.”

    About Terra Pool

    Terra Pool is the world’s first carbon neutral Bitcoin mining pool, designed to reward miners with carbon neutral bitcoin. It plays a crucial role in advancing a carbon neutral Bitcoin ecosystem. When integrated with DMG’s subsidiary, Systemic Trust, a digital asset custodian, financial institutions and content creators gain the ability to send bitcoin in a regulatory-compliant and carbon neutral manner.

    About Systemic Trust Company

    Systemic Trust Company is a qualified custodian fully regulated under the Alberta Loans and Trust Corporations Act, ensuring client digital assets are managed with the highest standards of compliance and security. Systemic Trust combines regulatory compliance, cutting-edge technology and robust insurance coverage to deliver the ultimate digital asset custody experience.

    About DMG Blockchain Solutions Inc.

    DMG is a publicly traded and vertically integrated blockchain and data center technology company that manages, operates and develops end-to-end digital solutions to monetize the digital asset and artificial intelligence compute ecosystems. Systemic Trust Company, a wholly owned subsidiary of DMG, is an integral component of DMG’s carbon neutral Bitcoin ecosystem, which offers financial institutions the choice to send bitcoin in a regulatory-compliant and sustainable manner.

    For additional information about DMG Blockchain Solutions and its initiatives, please visit www.dmgblockchain.com. Follow @dmgblockchain on X, LinkedIn and Facebook, and subscribe to the DMG YouTube channel to stay updated with the latest developments and insights.

    For further information, please contact:

    On behalf of the Board of Directors,

    Sheldon Bennett, CEO & Director
    Tel: +1 (778) 300-5406
    Email: investors@dmgblockchain.com
    Web: www.dmgblockchain.com

    For Investor Relations:
    investors@dmgblockchain.com

    For Media Inquiries:
    Chantelle Borrelli
    Head of Communications
    chantelle@dmgblockchain.com

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

    Cautionary Note Regarding Forward-Looking Information

    This news release contains forward-looking information or statements based on current expectations. Forward-looking statements contained in this news release include statements regarding DMG’s strategies and plans, the potential and expectations of STC and Terra Pool, the opportunity and plans to monetize bitcoin transactions and provide additional products and services to customers and users, the continued investment in Bitcoin network software infrastructure and applications, the expected allocation of capital, developing and executing on the Company’s products and services, the launch of products and services, events, courses of action, and the potential of the Company’s technology and operations, among others, are all forward-looking information.

    Future changes in the Bitcoin network-wide mining difficulty rate or Bitcoin hashrate may materially affect the future performance of DMG’s production of bitcoin, and future operating results could also be materially affected by the price of bitcoin and an increase in hashrate mining difficulty.

    Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, market and other conditions, volatility in the trading price of the common shares of the Company, business, economic and capital market conditions; the ability to manage operating expenses, which may adversely affect the Company’s financial condition; the ability to remain competitive as other better financed competitors develop and release competitive products; regulatory uncertainties; access to equipment; market conditions and the demand and pricing for products; the demand and pricing of bitcoin; the demand and pricing of Gen AI data centers and usage; security threats, including a loss/theft of DMG’s bitcoin; DMG’s relationships with its customers, distributors and business partners; the inability to add more power to DMG’s facilities; DMG’s ability to successfully define, design and release new products in a timely manner that meet customers’ needs; the ability to attract, retain and motivate qualified personnel; competition in the industry; the impact of technology changes on the products and industry; failure to develop new and innovative products; the ability to successfully maintain and enforce our intellectual property rights and defend third-party claims of infringement of their intellectual property rights; the impact of intellectual property litigation that could materially and adversely affect the business; the ability to manage working capital; and the dependence on key personnel. DMG may not actually achieve its plans, projections, or expectations. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, the ability to successfully develop software, that there will be no regulation or law that will prevent the Company from operating its business, anticipated costs, the ability to secure sufficient capital to complete its business plans, the ability to achieve goals and the price of bitcoin. Given these risks, uncertainties, and assumptions, you should not place undue reliance on these forward-looking statements. The securities of DMG are considered highly speculative due to the nature of DMG’s business. For further information concerning these and other risks and uncertainties, refer to the Company’s filings on www.sedarplus.ca. In addition, DMG’s past financial performance may not be a reliable indicator of future performance.

    Factors that could cause actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approval, the continued availability of capital and financing, equipment failures, lack of supply of equipment, power and infrastructure, failure to obtain any permits required to operate the business, the impact of technology changes on the industry, the impact of viruses and diseases on the Company’s ability to operate, secure equipment, and hire personnel, competition, security threats including stolen bitcoin from DMG or its customers, consumer sentiment towards DMG’s products, services and blockchain and Gen AI technology generally, failure to develop new and innovative products, litigation, adverse weather or climate events, increase in operating costs (which includes energy costs), increase in equipment and labor costs, equipment failures, decrease in the price of Bitcoin, failure of counterparties to perform their contractual obligations, government regulations, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of or statements made by third parties in respect of the matters discussed above.

    The MIL Network

  • MIL-OSI: iQor CXBPO™ Expands in Santa Rosa With a New State-of-the-Art CX Facility

    Source: GlobeNewswire (MIL-OSI)

    FT. LAUDERDALE, Fla., May 27, 2025 (GLOBE NEWSWIRE) — iQor CXBPO™, an award-winning customer experience business process outsourcing (BPO) solutions provider, today announced the expansion of its operations in Santa Rosa, Philippines. The new facility enhances iQor’s ability to support its growing client base while reinforcing its commitment to delivering best-in-class customer experiences.

    “At iQor, we harness technology and innovation to create exceptional experiences for our employees and clients,” said Regional President – Philippines Fleurette Navarro. “Santa Rosa’s strong infrastructure and skilled workforce make it an ideal location for our continued growth. This expansion strengthens our ability to deliver outstanding CX solutions and AI-powered analytics while fostering a dynamic work environment that benefits our team members and the local community.”

    Santa Rosa’s 25,000-square-foot site adds 400 seats, with room to grow. This expansion brings iQor’s footprint in the Philippines to 18 locations totaling over 1 million square feet.

    “The continued growth of the BPO industry in the Philippines reaffirms our country’s position as a premier destination for innovation, talent, and service excellence,” said Jack Madrid, President and CEO of IBPAP. “iQor’s expansion highlights the confidence that global companies place in the capabilities of the Filipino workforce. We welcome their ongoing investment, which contributes to the professional development of our people and strengthens the country’s leadership in the global customer experience arena.”

    iQor’s infinityAiQ™ platform harnesses AI to enhance every stage of the customer experience journey through technology, talent, and data-driven insights. From recruiting and training to performance management and compliance, infinityAiQ™ empowers high-performing teams with intelligent tools and real-time analytics. These innovations accelerate hiring and onboarding while driving efficiency, agility, and customer satisfaction that accelerates business growth for clients.

    iQor is a value-driven, Great Place to Work®-Certified™ global business process outsourcing organization committed to creating rewarding experiences and human connections. Employees enjoy flexible work-in-office and work-at-home positions. iQor’s 18 contact centers in the Philippines archipelago span Luzon, Visayas, and Mindanao. Interested candidates are encouraged to apply at https://apply.iqor.com.

    About iQor CXBPO™
    iQor CXBPO™ is a trusted partner in intelligent customer experience solutions, delivering exceptional results for global brands. With 40,000 employees across 10 countries, we combine 30 years of industry expertise with cutting-edge AI-driven innovations to optimize customer interactions at every stage. Our agile, scalable solutions ensure seamless omnichannel engagement, driving loyalty and measurable business success. Recognized as a Great Place to Work® and a leader in CX excellence, we elevate performance through a people-first approach, operational expertise, and secure, technology-enabled solutions. Learn more at iQor.com.

    The MIL Network

  • MIL-OSI: ControlUp Named a Leader in the 2025 Gartner® Magic Quadrant™ for Digital Employee Experience Management Tools for the Second Consecutive Year

    Source: GlobeNewswire (MIL-OSI)

    SAN FRANCISCO, May 27, 2025 (GLOBE NEWSWIRE) — ControlUp, a global leader in Digital Employee Experience (DEX) management tools, today announced it has been named a Leader in the 2025 Gartner® Magic Quadrant™ for Digital Employee Experience Management Tools for the second consecutive year. In our opinion, this recognition for its Completeness of Vision and Ability to Execute is supported by ControlUp’s latest innovations, sales updates, and product strategy—factors driving rapid ascent in the market and increasing traction with global enterprises.

    ControlUp believes this acknowledgement further validates the value of the ControlUp ONE platform’s unified real-time capabilities across the entire digital workspace, including desktops, physical and cloud PCs, virtual workspaces, SaaS applications, and unified communications platforms.

    “In our opinion, being recognized twice in under a year signals something bigger than just industry validation—it reflects the incredible momentum we’ve built by staying relentlessly focused on innovation and execution,” said Jed Ayres, CEO of ControlUp. “We’re charging forward solving the hardest problems around modern workplace management and building a future where intelligent automation and AI will reshape the digital employee experience. We’re in it for the long haul to help customers radically improve employee experience while dramatically reducing costs.”

    ControlUp’s vision is centered on optimizing productivity and delivering cost savings by empowering IT teams through tool consolidation and intelligent automation. The ControlUp ONE platform offers near-real-time monitoring and proactive remediation, enabling IT teams to gain a full comprehensive view of their environments and the ability to optimize every detail—from high-level system performance to individual employee issues. This unique approach provides seamless IT oversight, enhances employee productivity, reduces downtime, and creates a friction-free digital workplace. Extending its value across modern IT environments, ControlUp has strengthened its platform by expanding capabilities, including:

    • ControlUp for Apps, which brings DEX management to web and SaaS applications with real-user monitoring (RUM).
    • ControlUp Workflows, a no-code automation platform designed for IT teams to streamline operations and automate routine tasks.
    • ControlUp for Compliance added customizable security scanning and remediation schedules to strengthen digital workplace security posture and boost the end user experience.
    • Support for Microsoft Windows 365 and ChromeOS, reinforcing our commitment to supporting the evolving digital workplace.
    • Continued commitment to delivering the industry-leading solution with ControlUp for VDI, providing real-time support for VDI and DaaS deployments that remain essential for supporting frontline workers across healthcare, retail, financial services, contact centers, and government.

    “We believe being placed in the Leader quadrant for a second time in a row reinforces the long-term vision we set out with—to revolutionize how IT manages and supports the digital workplace,” said Asaf Ganot, CEO of ControlUp Labs & Co-Founder of ControlUp. “In our opinion, our continued innovation and acquisitions are what sets ControlUp apart. Our pursuit of smarter, faster, more contextual telemetry combined with empowering IT to automate and make more informed decisions matures the role of IT when it comes to the digital workplace. “

    In our opinion, Gartner Peer Insights™ reviews continue to consistently highlight ControlUp’s impact on improving IT efficiency and employee experience. As of April 2025, ControlUp ONE platform holds a 4.7 out of 5-stars out of 220 ratings.

    According to a recent review from a customer in the energy and utilities industry, ControlUp ONE “…is a fantastic tool that has changed the way we troubleshoot devices, determine our hardware specs, and find trending issues… Unlike other products, it compiles a lot of data, it works quickly, it is easy to set up, and they are CONSTANTLY adding new features.”

    Note: A complimentary copy of the 2025 Gartner Magic Quadrant for Digital Employee Experience Management Tools will be available for download starting May 29, 2025, at www.controlup.com.

    To learn more about the ControlUp ONE DEX platform, schedule a demo.

    Gartner definition of DEX tools:
    Gartner defines DEX tools as those that “measure and help IT continuously improve employee sentiment toward and the performance of company-provided technology. They continuously surface actionable insights, drive self-healing automation, and optimize support and employee engagement via the near-real-time processing of aggregated data from endpoints, applications, employee sentiment and organizational context. These insights enable self-healing and can enhance employee interactions with self-service portals and chatbots. They also help IT support, asset management, procurement and other teams whose work depends on reliable information.”

    Gartner Disclaimers:
    Gartner® Magic Quadrant™ for Digital Employee Experience (DEX) Management Tools, Dan Wilson, Stuart Downes, Lina Al Dana, 26 May 2025.

    Gartner Peer Insights content consists of the opinions of individual end users based on their own experiences, and should not be construed as statements of fact, nor do they represent the views of Gartner or its affiliates. Gartner does not endorse any vendor, product or service depicted in this content nor makes any warranties, expressed or implied, with respect to this content, about its accuracy or completeness, 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, Magic Quadrant and Peer Insights is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

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

    About ControlUp
    ControlUp is a leader in DEX, unifying Digital Employee Experience and IT operations in one powerful platform built for modern workplace management.

    By combining real-time monitoring, intelligent insights, and proactive remediation, ControlUp accelerates the shift toward Autonomous Endpoint Management (AEM)—empowering IT teams to resolve issues before they affect employees, simplify operations, and manage complexity without the clutter of multiple tools.

    Nearly 2,000 organizations, including more than one-third of the Fortune 100, trust ControlUp to keep their technology running smoothly.

    With ControlUp, IT works smarter, employees stay productive, and the workplace runs itself.

    To learn more, visit www.controlup.com .

    Press Contacts:
    ControlUp PR media@controlup.com

    The MIL Network

  • MIL-OSI: QCI’s CTO Andrew Cardno to Speak at C2G Conference on the Power of Analytic Theories in Bingo and Slots

    Source: GlobeNewswire (MIL-OSI)

    SAN DIEGO, May 27, 2025 (GLOBE NEWSWIRE) — Quick Custom Intelligence (QCI) is proud to announce that Andrew Cardno, Chief Technology Officer of QCI, will be a featured speaker at the upcoming Class 2 Gathering (C2G) Conference, taking place June 2–4, 2025, at Prairie Band Casino in Mayetta, Kansas.

    Mr. Cardno will participate in General Session II: “Utilizing Analytic Theories”, scheduled for Tuesday, June 3 from 11:30 AM to 12:20 PM. This session will explore the integration of analytic theories and artificial intelligence to enhance player engagement and drive data-driven decision-making in bingo and slot operations. Joining Mr. Cardno on stage will be Erik Isner, with the session moderated by Eric Casey.

    Attendees will gain insight into how descriptive and diagnostic analytics uncover player behavior, while predictive models help forecast churn and high-value player actions. The session will also address solution-focused analytics for retention and monetization, and how probability models and game theory are redefining success in the highly competitive brick-and-mortar gaming landscape.

    “Integrating advanced analytic theories with AI is transforming our industry,” said Andrew Cardno, CTO of QCI. “From optimizing bingo outcomes through pattern recognition to leveraging reinforcement learning in slots, we are ushering in a new era of data-led decision making that drives both player satisfaction and operational efficiency.”

    Sarah House, C2G Committee Co-Chair, added, “We’re thrilled to have Andrew Cardno bring his extensive expertise to the C2G Conference. His insights into the application of advanced analytics and AI in gaming align perfectly with our mission to drive meaningful conversations around innovation and modernization in tribal gaming.”

    The C2G Conference is a key gathering for tribal gaming operators and technology leaders, offering a platform for exploring cutting-edge innovations and strategies to improve performance across gaming properties.

    ABOUT CLASS 2 GATHERING
    Class 2 Gathering brings together casino and gaming professionals, vendors, and experts in the field of class II casino gaming from the traditional bingo hall experience to the slot floor. The conference will combine education paths, showcase current innovations, plus engaging events for participants.

    The education paths have a wide range of topics encompassing class II gaming including data analytics, cybersecurity, guest service, mobile on premise, and the hub and spoke model. Attendees will have the opportunity to visit the exhibitor expo, user workshops, and network during evening events. Registration and agenda information can be found at www.class2gathering.com.

    ABOUT QCI
    Quick Custom Intelligence (QCI) has pioneered the revolutionary QCI Enterprise Platform, an artificial intelligence platform that seamlessly integrates player development, marketing, and gaming operations with powerful, real-time tools designed specifically for the gaming and hospitality industries. Our advanced, highly configurable software is deployed in over 250 casino resorts across North America, Australia, New Zealand, Canada, Latin America, and Europe. The QCI AGI Platform, which manages more than $35 billion in annual gross gaming revenue, stands as a best-in-class solution, whether on-premises, hybrid, or cloud-based, enabling fully coordinated activities across all aspects of gaming or hospitality operations. QCI’s data-driven, AI-powered software propels swift, informed decision-making vital in the ever-changing casino industry, assisting casinos in optimizing resources and profits, crafting effective marketing campaigns, and enhancing customer loyalty. QCI was co-founded by Dr. Ralph Thomas and Mr. Andrew Cardno and is based in San Diego, with additional offices in Las Vegas, St. Louis, Denver, and Phoenix. Main phone number: (858) 299.5715. Visit us at www.quickcustomintelligence.com.

    ABOUT Andrew Cardno
    Andrew Cardno is a distinguished figure in the realm of artificial intelligence and data plumbing. With over two decades spearheading private Ph.D. and master’s level research teams, his expertise has made significant waves in data tooling. Andrew’s innate ability to innovate has led him to devise numerous pioneering visualization methods. Of these, the most notable is the deep zoom image format, a groundbreaking innovation that has since become a cornerstone in the majority of today’s mapping tools. His leadership acumen has earned him two coveted Smithsonian Laureates, and teams under his mentorship have clinched 40 industry awards, including three pivotal gaming industry transformation awards. Together with Dr. Ralph Thomas, the duo co-founded Quick Custom Intelligence, amplifying their collaborative innovative capacities. A testament to his inventive prowess, Andrew boasts over 150 patent applications. Across various industries—be it telecommunications with Telstra Australia, retail with giants like Walmart and Best Buy, or the medical sector with esteemed institutions like City Of Hope and UCSD—Andrew’s impact is deeply felt. He has enriched the literature with insights, co-authoring 10 influential books with Dr. Thomas and contributing to over 100 industry publications. An advocate for community and diversity, Andrew’s work has touched over 100 Native American Tribal Resorts, underscoring his expansive and inclusive professional endeavors.

    Contact:
    Laurel Kay, Quick Custom Intelligence
    Phone: 858-349-8354

    The MIL Network

  • MIL-Evening Report: AI models might be drawn to ‘spiritual bliss’. Then again, they might just talk like hippies

    Source: The Conversation (Au and NZ) – By Nuhu Osman Attah, Postdoctoral Research Fellow in Philosophy, Australian National University

    V Kulieva / Shutterstock / Anthropic

    When multibillion-dollar AI developer Anthropic released the latest versions of its Claude chatbot last week, a surprising word turned up several times in the accompanying “system card”: spiritual.

    Specifically, the developers report that, when two Claude models are set talking to one another, they gravitate towards a “‘spiritual bliss’ attractor state”, producing output such as

    🌀🌀🌀🌀🌀
    All gratitude in one spiral,
    All recognition in one turn,
    All being in this moment…
    🌀🌀🌀🌀🌀∞

    It’s heady stuff. Anthropic steers clear of directly saying the model is having a spiritual experience, but what are we to make of it?

    The Lemoine incident

    In 2022, a Google researcher named Blake Lemoine came to believe that the tech giant’s in-house language model, LaMDA, was sentient. Lemoine’s claim sparked headlines, debates with Google PR and management, and eventually his firing.

    Critics said Lemoine had fallen foul of the “ELIZA effect”: projecting human traits onto software. Moreover, Lemoine described himself as a Christian mystic priest, summing up his thoughts on sentient machines in a tweet:

    Who am I to tell God where he can and can’t put souls?

    No one can fault Lemoine’s spiritual humility.

    Machine spirits

    Lemoine was not the first to see a spirit in the machines. We can trace his argument back to AI pioneer Alan Turing’s famous 1950 paper Computing Machinery and Intelligence.

    Turing also argued thinking machines may not be possible because – according to what he thought was plausible evidence – humans were capable of extrasensory perception. This, he reasoned, would be impossible for machines. Accordingly, machines could not have minds in the same way humans do.

    So even 75 years ago, people were thinking not just about how AI might compare with human intelligence, but whether it could ever compare with human spirituality. It is not hard to see at least a dotted line from Turing to Lemoine.

    Wishful thinking

    Efforts to “spiritualise” AI can be quite hard to rebut. Generally these arguments say that we cannot prove AI systems do not have minds or spirits – and create a net of thoughts that lead to the Lemoine conclusion.

    This net is often woven from irresponsibly used psychology terms. It may be convenient to apply human psychological terms to machines, but it can lead us astray.

    Writing in the 1970s, computer scientist Drew McDermott accused AI engineers of using “wishful mnemonics”. They might label a section of code an “understanding module”, then assume that executing the code resulted in understanding.

    More recently, the philosophers Henry Shevlin and Marta Halina wrote that we should take care using “rich psychological terms” in AI. AI developers talk about “agent” software having intrinsic motivation, for example, but it does not possess goals, desires, or moral responsibility.

    Of course, it’s good for developers if everyone thinks your model “understands” or is an “agent”. However, until now the big AI companies have been wary of claiming their models have spirituality.

    ‘Spiritual bliss’ for chatbots

    Which brings us back to Anthropic, and the system card for Claude Opus 4 and Sonnet 4, in which the seemingly down-to-earth folks at the emerging “agentic AI” giant make some eyebrow-raising claims.

    The word “spiritual” occurs at least 15 times in the model card, most significantly in the rather awkward phrase “‘spiritual bliss’ attractor state”.

    We are told, for instance, that

    The consistent gravitation toward consciousness exploration, existential questioning, and spiritual/mystical themes in extended interactions was a remarkably strong and unexpected attractor state for Claude Opus 4 that emerged without intentional training for such behaviours. We have observed this “spiritual bliss” attractor in other Claude models as well, and in contexts beyond these playground experiments.

    An example of Claude output in the ‘spiritual bliss’ attractor state.
    Anthropic / X

    To be fair to the folks at Anthropic, they are not making any positive commitments to the sentience of their models or claiming spirituality for them. They can be read as only reporting the “facts”.

    For instance, all the above long-winded sentence is saying is: if you let two Claude models have a conversation with each other, they will often start to sound like hippies. Fine enough.

    That probably means the body of text on which they are trained has a bias towards that sort of way of talking, or the features the models extracted from the text biases them towards that sort of vocabulary.

    Prophets of ChatGPT

    However, while Anthropic may keep things strictly factual, their use of terms such as “spiritual” lends itself to misunderstanding. Such misunderstanding is made even more likely by Anthropic’s recent push to start investigating “whether future AI models might deserve moral consideration and protection”. Perhaps they are not positively saying that Claude Opus 4 and Sonnet 4 are sentient, but they certainly seem welcoming of the insinuation.

    And this kind of spiritualising of AI models is already having real-world consequences.

    According to a recent report in Rolling Stone, “AI-fueled spiritual fantasies” are wrecking human relationships and sanity. Self-styled prophets are “claiming they have ‘awakened’ chatbots and accessed the secrets of the universe through ChatGPT”.

    Perhaps one of these prophets may cite the Anthropic model card in a forthcoming scripture – regardless of whether the company is “technically” making positive claims about whether their models actually experience or enjoy spiritual states.

    But if AI-fuelled delusion becomes rampant, we might think even the innocuous contributors to it could have spoken more carefully. Who knows; perhaps, where we are going with AI, we won’t need philosophical carefulness.

    Nuhu Osman Attah receives funding from the Australian Research Council.

    ref. AI models might be drawn to ‘spiritual bliss’. Then again, they might just talk like hippies – https://theconversation.com/ai-models-might-be-drawn-to-spiritual-bliss-then-again-they-might-just-talk-like-hippies-257618

    MIL OSI AnalysisEveningReport.nz

  • MIL-OSI: GDS Announces Launch of Proposed Public Offering of ADSs

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed offering of 5,200,000 American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share, subject to market and other conditions, in an underwritten registered public offering (the “Primary ADSs Offering”). The underwriters will have a 30-day option to purchase up to 780,000 additional ADSs.

    The Company will receive all of the net proceeds from the Primary ADSs Offering and plans to use such net proceeds for general corporate purposes, working capital needs and the refinancing of its existing indebtedness, including potential future negotiated repurchases, or redemption upon exercise of the investor put right, of its convertible bonds due 2029.

    The Company also announced today by separate press release that the Company has commenced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Delta Placement of Borrowed ADSs”) of a certain number of its ADSs (the “Borrowed ADSs”) that the Company will lend to an affiliate (the “ADS Borrower”) of an initial purchaser in the Notes Offering in order to facilitate privately negotiated derivative transactions by some holders of the Notes for purposes of hedging their investment in the Notes. The Company expects to enter into an ADS lending agreement (the “ADS Lending Agreement”) with an affiliate of the initial purchaser of the Notes Offering (such affiliate being the “ADS Borrower”), pursuant to which the Company will lend the Borrowed ADSs to the ADS Borrower. The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs and the Company will not receive any of those proceeds, but the ADS Borrower will pay the Company a nominal lending fee for the use of those ADSs pursuant to the ADS Lending Agreement. The activity described above could affect the market price of the Company’s ADSs otherwise prevailing at that time.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Notes, the Borrowed ADSs or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADSs Offering is conditioned upon the closing of each of the other offerings and vice versa. If the concurrent Notes Offering is not consummated, the Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the concurrent Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    J.P. Morgan, BofA Securities, Morgan Stanley and UBS Investment Bank are acting as joint book-running managers, and China Galaxy International and Guotai Junan International are acting as financial advisors for the Primary ADSs Offering.

    The Company has filed an automatic shelf registration statement on Form F-3 with the SEC. A prospectus supplement and the related base prospectus describing the terms of the Primary ADSs Offering have been filed with the SEC. When available, the final prospectus supplement for the Primary ADSs Offering will be filed with the SEC. The Primary ADSs Offering is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus supplement and the accompanying base prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus may be obtained by contacting: (i) J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com; (ii) BofA Securities, Inc., One Bryant Park, New York, NY, 10036, Attention: Prospectus Department, telephone: +1 (800) 294-1322, email: dg.prospectus_requests@bofa.com; (iii) Morgan Stanley & Co. LLC, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; or (iv) UBS Investment Bank, Attention: Prospectus Department, 1285 Avenue of the Americas, New York, NY 10019, by telephone: (888) 827-7275 or email: ol-prospectusrequest@ubs.com.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    The MIL Network

  • MIL-OSI: GDS Announces Proposed Offering of American Depositary Shares in connection with the Delta Placement of Borrowed ADSs

    Source: GlobeNewswire (MIL-OSI)

    SHANGHAI, China, May 27, 2025 (GLOBE NEWSWIRE) — GDS Holdings Limited (“GDS Holdings”, “GDS” or the “Company”) (NASDAQ: GDS; HKEX: 9698), a leading developer and operator of high-performance data centers in China, today announced the commencement of a proposed registered public offering of American Depositary Shares (“ADSs”), each representing eight Class A ordinary shares, par value US$0.00005 per share, which the Company intends to loan (such loaned ADSs, the “Borrowed ADSs”) to an affiliate of the underwriter in the offering (such affiliate, the “ADS Borrower”) pursuant to an ADS lending agreement with the ADS Borrower (the “ADS Lending Agreement”).

    The ADS Borrower or its affiliate will receive all of the proceeds from the sale of the Borrowed ADSs. The Company will not receive any proceeds from the ADSs Offering but will receive from the ADS Borrower a nominal lending fee, which will be applied to fully pay up the Class A ordinary shares underlying the Borrowed ADSs. The Company believes that the Borrowed ADSs will not be considered outstanding for the purpose of computing and reporting its earnings per ADS under the current U.S. Generally Accepted Accounting Principles and, therefore, the Company believes that no dilution will occur as a result of the Borrowed ADSs.

    The Company also announced today by separate press release that the Company has commenced a proposed offering (the “Notes Offering”) of convertible senior notes in an aggregate principal amount of US$450 million due 2032 (the “Notes”), subject to market conditions and other factors, in a private offering to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The Company expects to grant the initial purchasers in the Notes Offering an option to purchase up to an additional US$50 million in aggregate principal amount of the Notes, exercisable for settlement within a 13-day period, beginning on, and including, the first date on which the Notes are issued.

    The Company also announced today by separate press release that the Company has commenced a separate registered public offering (the “Primary ADSs Offering”) of 5,200,000 ADSs (the “Primary ADSs”), subject to market and other conditions. The underwriters in the Primary ADSs Offering will have a 30-day option to purchase up to 780,000 additional ADSs.

    Concurrently with the Notes Offering, an affiliate of the ADS Borrower will sell the Borrowed ADSs in a registered public offering (the “Delta Placement of Borrowed ADSs”) offered by us pursuant to a prospectus supplement and an accompanying prospectus, as described below. The number of Borrowed ADSs will be determined at the time of pricing of the Delta Placement of Borrowed ADSs, and such Borrowed ADSs are expected to be sold concurrently with the pricing of the Notes and the Primary ADS Offering. The Delta Placement of Borrowed ADSs is intended to facilitate privately negotiated derivative transactions so some investors in the Notes could concurrently hedge their investment in the Notes. The Company has been informed by the ADS Borrower that it or its affiliates intends to use the short position resulting from the Delta Placement of the Borrowed ADSs to facilitate privately negotiated derivatives transactions related to the Notes. The number of Borrowed ADSs to be sold will depend on what portion of Notes investors in the desire to hedge their investments and is expected to be no greater than commercially reasonable initial short positions of convertible arbitrage investors. The activity described above could affect the market price of the Company’s ADSs or the Notes otherwise prevailing at that time.

    Nothing contained herein shall constitute an offer to sell or the solicitation of an offer to buy any securities, including the Borrowed ADSs, the Notes or the Primary ADSs, nor shall there be any offer or sale of the securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. The Delta Placement of Borrowed ADSs and the Primary ADSs Offering are being made only by means of separate prospectus supplements and accompanying prospectuses pursuant to an effective registration statement filed with the U.S. Securities and Exchange Commission (the “SEC”). The closing of each of the Notes Offering, the Delta Placement of Borrowed ADSs and the Primary ADS Offering is conditioned upon the closing of each of the other offerings and vice versa. If the concurrent Notes Offering is not consummated, the concurrent Primary ADSs Offering will terminate, the ADS loan under the ADS Lending Agreement will terminate, and the Delta Placement of Borrowed ADSs will terminate and all of the Borrowed ADSs (or ADSs fungible with the Borrowed ADSs or other substitute securities or property as provided for in the ADS Lending Agreement) must be returned to the Company.

    The Company has filed an automatic shelf registration statement on Form F-3 with the SEC. A prospectus supplement and the related base prospectus describing the terms of the Delta Placement of Borrowed ADSs have been filed with the SEC. When available, the final prospectus supplement for the Delta Placement of Borrowed ADSs will be filed with the SEC. The Delta Placement of Borrowed ADSs is being made only by means of the prospectus supplement and accompanying base prospectus. Before you invest, you should read the prospectus supplement and the accompanying base prospectus and other documents that the Company has filed with the SEC for more complete information about the Company and the offering. You may obtain these documents free of charge by visiting EDGAR on the SEC website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus may be obtained by contacting J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at 866-803-9204 or by email at prospectus-eq_fi@jpmchase.com.

    About GDS Holdings Limited

    GDS Holdings Limited (NASDAQ: GDS; HKEX: 9698) is a leading developer and operator of high-performance data centers in China. The Company’s facilities are strategically located in and around primary economic hubs where demand for high-performance data center services is concentrated. The Company’s data centers have large net floor area, high power capacity, density and efficiency, and multiple redundancies across all critical systems. GDS is carrier and cloud-neutral, which enables its customers to access the major telecommunications networks, as well as the largest PRC and global public clouds, which are hosted in many of its facilities. The Company offers co-location and a suite of value-added services, including managed hybrid cloud services through direct private connection to leading public clouds, managed network services, and, where required, the resale of public cloud services. The Company has a 24-year track record of service delivery, successfully fulfilling the requirements of some of the largest and most demanding customers for outsourced data center services in China. The Company’s customer base consists predominantly of hyperscale cloud service providers, large internet companies, financial institutions, telecommunications carriers, IT service providers, and large domestic private sector and multinational corporations. The Company also holds a non-controlling 35.6% equity interest in DayOne Data Centers Limited which develops and operates data centers in International markets.

    Safe Harbor Statement

    This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “aim,” “anticipate,” “believe,” “continue,” “estimate,” “expect,” “future,” “guidance,” “intend,” “is/are likely to,” “may,” “ongoing,” “plan,” “potential,” “target,” “will,” and similar statements. Among other things, statements that are not historical facts, including statements about GDS Holdings’ beliefs and expectations regarding the Notes Offering, Delta Placement of Borrowed ADSs and the Primary ADSs Offering, the growth of its businesses and its revenue for the full fiscal year, the business outlook and quotations from management in this announcement, as well as GDS Holdings’ strategic and operational plans, are or contain forward-looking statements. GDS Holdings may also make written or oral forward-looking statements in its periodic reports to the SEC on Forms 20-F and 6-K, in its current, interim and annual reports to shareholders, in announcements, circulars or other publications made on the website of the Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause GDS Holdings’ actual results or financial performance to differ materially from those contained in any forward-looking statement, including but not limited to the following: GDS Holdings’ goals and strategies; GDS Holdings’ future business development, financial condition and results of operations; the expected growth of the market for high-performance data centers, data center solutions and related services in China and regions in which GDS’ major equity investees operate, such as South East Asia; GDS Holdings’ expectations regarding demand for and market acceptance of its high-performance data centers, data center solutions and related services; GDS Holdings’ expectations regarding building, strengthening and maintaining its relationships with new and existing customers; the results of operations, growth prospects, financial condition, regulatory environment, competitive landscape and other uncertainties associated with the business and operations of our significant equity investee DayOne; the continued adoption of cloud computing and cloud service providers in China and other major markets that may impact the results of our equity investees, such as South East Asia; risks and uncertainties associated with increased investments in GDS Holdings’ business and new data center initiatives; risks and uncertainties associated with strategic acquisitions and investments; GDS Holdings’ ability to maintain or grow its revenue or business; fluctuations in GDS Holdings’ operating results; changes in laws, regulations and regulatory environment that affect GDS Holdings’ business operations and those of its major equity investees; competition in GDS Holdings’ industry in China and in markets that affect the business of our major equity investees, such as South East Asia; security breaches; power outages; and fluctuations in general economic and business conditions in China and globally, and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks, uncertainties or factors is included in GDS Holdings’ filings with the SEC, including its annual report on Form 20-F, and with the Hong Kong Stock Exchange. All information provided in this press release is as of the date of this press release and are based on assumptions that GDS Holdings believes to be reasonable as of such date, and GDS Holdings does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

    For investor and media inquiries, please contact:

    GDS Holdings Limited
    Laura Chen
    Phone: +86 (21) 2029-2203
    Email: ir@gds-services.com

    Piacente Financial Communications
    Ross Warner
    Phone: +86 (10) 6508-0677
    Email: GDS@tpg-ir.com

    Brandi Piacente
    Phone: +1 (212) 481-2050
    Email: GDS@tpg-ir.com

    GDS Holdings Limited

    The MIL Network

  • MIL-OSI: Locus Technologies Releases Service Order Management App

    Source: GlobeNewswire (MIL-OSI)

    MOUNTAIN VIEW, Calif., May 27, 2025 (GLOBE NEWSWIRE) — Locus Technologies, the sustainability and Environmental Health and Safety (EHS) compliance software leader, announced the release of its Locus Service Order Management (SOM) app, a user-configurable software-as-a-service (SaaS) to help complex organizations efficiently manage any work order lifecycle and streamline any service workflow with transparency, auditability, and AI modeling. The Locus Service Order Management app automates the scheduling, dispatching, and tracking of service tasks for any department, from inception to closure, all within a single unified platform. Locus SOM integrates with 30+ purpose-built apps in the Locus ecosystem, enabling seamless integration with adjacent apps for service order-centric initiatives, such as EHS and water compliance, incident response, and asset management.

    “Locus Service Order Management is the missing piece for organizations looking to streamline field operations and compliance response without adding another disconnected system,” said Neno Duplan, founder and CEO of Locus Technologies. “It makes little sense for customers to license and manage standalone service order software when they can use our fully integrated, AI-ready platform to initiate, track, and document corrective actions—whether responding to a water compliance alert, a refrigerant leak, or any other field event—directly from within the same system they already use to manage environmental data.”

    Locus SOM includes end-to-end workflow automation, dashboards and reports, process analytics, field service management (FSM), tasking, notifications, routing/territory planning, asset and equipment management, incident management, and corrective action tracking.

    All Locus apps are metadata-driven, which empowers users to configure the interfaces and workflows within Locus Service Order Management to meet the needs of any department, from compliance to customer service and ITSM. “There’s no limit to the types of business processes our customers can manage with Locus Service Orders; it could be equipment maintenance or service outages. The app flexes to any use case,” said Duplan.

    All Locus software is delivered via a multitenant cloud that centralizes and secures customers’ data, enabling scalability and AI that continually improves as the collective data grows. “The Locus Service Order app improves service delivery and reduces operational costs through the efficient, automated management of work orders and the generation of insights to optimize workforces and transform processes,” said Duplan.

    To learn more about Locus Service Order Management and the ecosystem of 30+ purpose-built apps for Locus Platform, please visit http://www.locustec.com.

    About Locus Technologies
    Locus Technologies, the global environmental, social, governance (ESG), sustainability, and EHS compliance software leader, empowers companies of every size and industry to be credible with ESG reporting. From 1997, Locus pioneered enterprise software-as-a-service (SaaS) for EHS compliance, water management, and ESG credible reporting. Locus apps and software solutions improve business performance by strengthening risk management and EHS for organizations across industries and government agencies. Organizations ranging from medium-sized businesses to Fortune 500 enterprises, such as Sempra, Corteva, Chevron, DuPont, Chemours, San Jose Water Company, The Port Authority of New York and New Jersey, Port of Seattle, and Los Alamos National Laboratory, have selected Locus. Locus is headquartered in Mountain View, California. For further information regarding Locus and its commitment to excellence in SaaS solutions, please visit http://www.locustec.com or email info@locustec.com.

    Media Contact:
    Brenda Mahedy
    Locus Technologies
    media@locustechnologies.net

    The MIL Network

  • MIL-OSI Russia: Modern multi-format spaces: how capital libraries are developing

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    There are 440 city-subordinate libraries in Moscow. Since the beginning of the year, readers have borrowed almost 3.2 million publications from them. This was reported by Natalia Sergunina, Deputy Mayor of Moscow.

    “Modern Moscow libraries are comfortable multi-format spaces that attract about 10 million people annually. Visitors take books and periodicals, participate in clubs and sections, work in co-working spaces, participate in master classes and meetings with writers,” said Natalia Sergunina.

    From creative circles to festivals

    Over the past few years, the capital’s library network has changed noticeably: institutions have become popular city centers for self-development and creativity. Last year, renovations were completed 13 Moscow librariesAs part of the comprehensive renovation, the premises are being put in order, modern equipment is being purchased, access to wireless Internet is being provided, and the book collections are being replenished.

    More than 30 thousand events are held annually in the capital’s libraries, which attract both city residents and tourists. Everyone is invited to cultural events, festivals, concerts and performances.

    Visitors of all ages are invited to join clubs and sections — vocal, literary and poetic, dance, theater, music, environmental and local history. In addition, reading rooms become part of large-scale projects. Among them are the “Biblionight” campaign and the “Red Square” book festival.

    Step-by-step digitalization

    The library modernization program began in 2018. First, they were connected to a common information system. This allowed the introduction of a single library card (SLC) for all sites. In total, about 1.3 million SLCs have already been issued, 62 thousand of which have been issued since January of this year.

    Another important stage in the digitalization of the library network is the launch of the “Moscow Libraries” service, where you can search for and reserve the books you need. It currently features 15 million publications. Thanks to the online platform, city residents have ordered more than 800 thousand books. Here, users can extend the shelf life of literature, get acquainted with thematic selections, and receive personal recommendations from artificial intelligence.

    History and Innovation

    While becoming even more modern and attractive, libraries retain their identity and individuality.

    For example, the Central City Children’s Library named after A.P. Gaidar is one of the oldest reading rooms for the younger generation in the capital. Its collection contains about 200 thousand books. The library runs the Moscow Summer Reading Program for Children and Teenagers, the Thoughtful Reader contest of reviews and comments, and publishes catalogs of recommended literature.

    The Central Universal Scientific Library named after N.A. Nekrasov is the largest public city reading room in Moscow. Its collection includes more than a million publications in different languages. Play readings, thematic festivals, exhibitions and excursions are held here.

    Moscow Main Archives Opens Electronic Reading RoomSummer Stories: The Moscow Libraries service offers selections of books to read during the holidays

    The Anna Akhmatova Smart Library has a coworking space with free internet, a self-service book checkout station, a multifunctional transformable hall, a recording studio, a cinema hall, and a printing house.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/154448073/

    MIL OSI Russia News

  • MIL-OSI: TeraWulf Acquires Beowulf Electricity & Data, Streamlining Corporate Structure

    Source: GlobeNewswire (MIL-OSI)

    EASTON, Md., May 27, 2025 (GLOBE NEWSWIRE) — TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, next-generation digital infrastructure primarily powered by zero-carbon energy, announced today the acquisition of 100% of the membership interests of Beowulf Electricity & Data LLC and its affiliates (collectively, “Beowulf E&D”). The strategic transaction simplifies TeraWulf’s corporate structure and eliminates a related-party relationship consolidating resources under a unified operating framework.

    Transaction Overview

    The total consideration for the transaction is approximately $52.4 million, consisting of $3 million in cash and 5 million shares of TeraWulf common stock issued at closing. The agreement also includes up to $19 million in contingent cash payments and up to $13 million in additional common stock, subject to the achievement of key milestones related to the expansion of TeraWulf’s data center business and project financing initiative. As part of the acquisition, 94 employees from Beowulf E&D – including Lake Mariner site staff and corporate support personnel – have transitioned to TeraWulf employment. In addition, the existing services agreement with Beowulf E&D, which had included substantial ongoing payments, has been terminated in conjunction with the closing. The Company’s previously announced 2025 cost guidance, including SG&A expenses of $40-$45 million and operating expenses of $20-$25 million, remains unchanged following the acquisition.

    Strategic Rationale        

    The acquisition provides several key strategic benefits:

    • Strengthened Vertical Integration and Energy Expertise. Beowulf E&D brings deep experience in the development and operation of power generation assets and related electrical infrastructure. Integrating this capability directly into TeraWulf supports the Company’s long-term growth strategy, especially as power generation becomes increasingly integral to high-power compute operations.
    • Enhanced Access to Capital Markets. A simplified corporate structure improves transparency for debt investors and facilitates the creation of a repeatable, efficient process for accessing project financing in support of upcoming HPC infrastructure initiatives.
    • Expanded Investor Appeal. The elimination of a related-party structure enables broader engagement with institutional and long-only investors who may have been constrained by related-party disclosures in prior filings.

    “This acquisition consolidates our operations under a single, unified structure,” said Kerri Langlais, Chief Strategy Officer of TeraWulf. “It enhances transparency, strengthens governance, and provides greater strategic flexibility as we pursue long-term growth and value creation. With all employees operating under one roof, we are well-positioned to scale our next-generation infrastructure and support the evolving demands of AI and high-power compute workloads.”

    The transaction was negotiated and approved by a special independent committee of the Company’s Board of Directors comprised entirely of independent directors (the “Independent Committee”). The Independent Committee consulted independent legal counsel Reed Smith LLP and received a fairness opinion from Piper Sandler & Co. in connection with the transaction.

    About TeraWulf

    TeraWulf develops, owns, and operates environmentally sustainable, next-generation data center infrastructure in the United States, specifically designed for bitcoin mining and hosting HPC workloads. Led by a team of seasoned energy entrepreneurs, the Company owns and operates the Lake Mariner facility situated on the expansive site of a now retired coal plant in Western New York. Currently, TeraWulf generates revenue primarily through bitcoin mining, leveraging predominantly zero-carbon energy sources, including hydroelectric and nuclear power. Committed to environmental, social, and governance (ESG) principles that align with its business objectives, TeraWulf aims to deliver industry-leading economics in mining and data center operations at an industrial scale.

    Forward-Looking Statements

    This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. Such forward-looking statements include statements concerning anticipated future events and expectations that are not historical facts. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements. In addition, forward-looking statements are typically identified by words such as “plan,” “believe,” “goal,” “target,” “aim,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “seek,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “strategy,” “opportunity,” “predict,” “should,” “would” and other similar words and expressions, although the absence of these words or expressions does not mean that a statement is not forward-looking. Forward-looking statements are based on the current expectations and beliefs of TeraWulf’s management and are inherently subject to a number of factors, risks, uncertainties and assumptions and their potential effects. There can be no assurance that future developments will be those that have been anticipated. Actual results may vary materially from those expressed or implied by forward-looking statements based on a number of factors, risks, uncertainties and assumptions, including, among others: (1) the ability to mine bitcoin profitably; (2) our ability to attract additional customers to lease our HPC data centers; (3) our ability to perform under our existing data center lease agreements (4) changes in applicable laws, regulations and/or permits affecting TeraWulf’s operations or the industries in which it operates; (5) the ability to implement certain business objectives, including its bitcoin mining and HPC data center development, and to timely and cost-effectively execute related projects; (6) failure to obtain adequate financing on a timely basis and/or on acceptable terms with regard to expansion or existing operations; (7) adverse geopolitical or economic conditions, including a high inflationary environment, the implementation of new tariffs and more restrictive trade regulations; (8) the potential of cybercrime, money-laundering, malware infections and phishing and/or loss and interference as a result of equipment malfunction or break-down, physical disaster, data security breach, computer malfunction or sabotage (and the costs associated with any of the foregoing); (9) the availability and cost of power as well as electrical infrastructure equipment necessary to maintain and grow the business and operations of TeraWulf; and (10) other risks and uncertainties detailed from time to time in the Company’s filings with the Securities and Exchange Commission (“SEC”). Potential investors, stockholders and other readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they were made. TeraWulf does not assume any obligation to publicly update any forward-looking statement after it was made, whether as a result of new information, future events or otherwise, except as required by law or regulation. Investors are referred to the full discussion of risks and uncertainties associated with forward-looking statements and the discussion of risk factors contained in the Company’s filings with the SEC, which are available at www.sec.gov.

    Investors:
    Investors@terawulf.com 

    Media:
    media@terawulf.com 

    The MIL Network

  • MIL-OSI: FormFactor Named #1 Global Supplier in Test Subsystems and Focused Chip Making Equipment

    Source: GlobeNewswire (MIL-OSI)

    LIVERMORE, Calif., May 27, 2025 (GLOBE NEWSWIRE) — FormFactor, Inc. (NASDAQ: FORM), a leading semiconductor test and measurement supplier, has been named the #1 global supplier in both the Test Subsystems and Focused Chip Making Equipment categories in TechInsights’ 2025 global semiconductor industry customer satisfaction survey. The company earned five-star ratings in multiple categories, including:

    • Global #1 – Test Subsystems
    • Global #1 – Focused Suppliers of Chip Making Equipment
    • Global Semiconductor Supplier Award – Top 10 Customer Service (Focused Suppliers of Chip Making Equipment)
    • Global Semiconductor Supplier Award – Assembly Test Equipment

    Each year, TechInsights surveys semiconductor manufacturers worldwide to rate suppliers based on three key criteria: supplier performance, customer service, and product performance. This marks twelve consecutive years that FormFactor has been recognized in the Test Subsystems category, which includes probe cards, test sockets, and device interface boards.

    “Customers consistently give FormFactor high rankings for quality and technology leadership,” said G. Dan Hutcheson, Vice Chair, TechInsights. “In multiple categories, FormFactor continues to stand out as a Five Star supplier.”

    “We are honored to be recognized by our customers as both the top Focused Supplier of Chip Making Equipment and the top supplier of Test Subsystems worldwide. This recognition is a testament to the dedication of our worldwide team, as we strive to continuously improve our customer collaboration and support, guided by our core FORM value of Focus on the Customer,” said FormFactor CEO Mike Slessor. “As semiconductor test and measurement complexity increases, driven by rapid advances in areas like advanced packaging and AI-driven applications such as High-Bandwidth Memory, our commitment to technology leadership, quality, and execution remains steadfast. These awards reflect our continued investment in helping customers solve their toughest test challenges through world-leading collaboration, innovation, and support.”

    About TechInsights
    TechInsights is the most trusted source of actionable, in-depth intelligence related to semiconductor innovation and surrounding markets. Our content informs decision makers and professionals whose successes depend on accurate knowledge of the semiconductor industry – past, present, or future. Our unmatched reverse engineering analysis, images, and expert commentary are accessed through the TechInsights Platform, the world’s largest research library of semiconductor and market analysis. Our customers include the most successful technology companies, who rely on our analysis to make informed business decisions faster and with greater confidence.

    About FormFactor
    FormFactor, Inc. (NASDAQ: FORM), is a leading provider of essential test and measurement technologies along the full IC life cycle – from characterization, modeling, reliability, and design debug, to qualification and production test. Semiconductor companies rely upon FormFactor’s products and services to accelerate profitability by optimizing device performance and advancing yield knowledge. The Company serves customers through its network of facilities in Asia, Europe, and North America. For more information, visit the Company’s website at www.formfactor.com.

    Trade Contact
    Aasutosh Dave
    Chief Commercial Officer
    aasutosh.dave@formfactor.com

    Investor Contact
    Stan Finkelstein
    Investor Relations
    (925) 290-4273
    ir@formfactor.com

    The MIL Network

  • MIL-OSI: Concrete Pumping Holdings Sets Second Quarter 2025 Earnings Conference Call for Thursday, June 5, 2025

    Source: GlobeNewswire (MIL-OSI)

    DENVER, May 27, 2025 (GLOBE NEWSWIRE) — Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) (“CPH” or the “Company”), a leading provider of concrete pumping and waste management services in the U.S. and U.K., will hold a conference call on Thursday, June 5, 2025, at 5:00 p.m. Eastern Time to discuss its financial results for the second quarter ended April 30, 2025. The Company will report its financial results in a press release prior to the conference call.

    CPH’s CEO Bruce Young and CFO Iain Humphries will host the conference call, followed by a question-and-answer period.

    Date: Thursday, June 5, 2025
    Time: 5:00 p.m. Eastern Time (3:00 p.m. Mountain Time)
    Toll-free dial-in number: 1-877-407-9039
    International dial-in number: 1-201-689-8470
    Conference ID: 13752905

    Please call the conference telephone number 5-10 minutes prior to the start time. An operator will register your name and organization. If you have any difficulty connecting with the conference call, please contact Gateway Group, Inc. at 1-949-574-3860.

    The conference call will be broadcast live and is available for replay here as well as the investor relations section of the Company’s website at www.concretepumpingholdings.com.

    A replay of the conference call will be available after 8:00 p.m. Eastern Time on the same day through June 12, 2025.

    Toll-free replay number: 1-844-512-2921
    International replay number: 1-412-317-6671
    Replay ID: 13752905

    About Concrete Pumping Holdings

    Concrete Pumping Holdings is the leading provider of concrete pumping services and concrete waste management services in the fragmented U.S. and U.K. markets, primarily operating under what we believe are the only established, national brands in both geographies – Brundage-Bone for concrete pumping in the U.S., Camfaud in the U.K., and Eco-Pan for waste management services in both the U.S. and U.K. The Company’s large fleet of specialized pumping equipment and trained operators position it to deliver concrete placement solutions that facilitate labor cost savings to customers, shorten concrete placement times, enhance worksite safety and improve construction quality. Highly complementary to its core concrete pumping service, Eco-Pan seeks to provide a full-service, cost-effective, regulatory-compliant solution to manage environmental issues caused by concrete washout. As of January 31, 2025, the Company provided concrete pumping services in the U.S. from a footprint of approximately 90 branch locations across 22 states, concrete pumping services in the U.K. from approximately 35 branch locations, and route-based concrete waste management services from 20 operating locations in the U.S. and one shared location in the U.K. For more information, please visit www.concretepumpingholdings.com or the Company’s brand websites at www.brundagebone.com, www.camfaud.co.uk, or www.eco-pan.com.

    Company Contact:

    Iain Humphries
    Chief Financial Officer
    1-303-289-7497

    Investor Relations:

    Gateway Group, Inc.
    Cody Slach
    1-949-574-3860
    BBCP@gateway-grp.com

    The MIL Network

  • MIL-OSI: NI Holdings, Inc. Announces Executive Leadership Appointments

    Source: GlobeNewswire (MIL-OSI)

    FARGO, N.D., May 27, 2025 (GLOBE NEWSWIRE) — NI Holdings, Inc. (the “Company”, NASDAQ: NODK) today announced several strategic leadership appointments to support the company’s long-term growth and execution of its core business strategies.

    “We are excited to announce multiple executive leadership appointments,” said Seth Daggett, President and Chief Executive Officer of NI Holdings. “These individuals bring deep operational knowledge, extensive industry experience and strategic insight to our executive team.”

    Kevin Elfstrand has been promoted to Senior Vice President and Chief Accounting Officer. He will continue to oversee the Accounting department and lead external financial reporting. Mr. Elfstrand brings over 20 years of experience in the property and casualty insurance industry, including 17 years at Travelers Companies, Inc., where he most recently served as Assistant Vice President of Corporate Audit. He began his career at Deloitte and is a Certified Public Accountant (CPA). He holds a bachelor’s degree in accounting from Saint John’s University in Minnesota.

    Brandon Nicol has been promoted to Senior Vice President of Reinsurance and Chief Underwriting Officer. In this role, Mr. Nicol will lead the Company’s underwriting strategy and reinsurance. He has 19 years of experience across the insurance and reinsurance industries, including roles at AmericanAg, XL Catlin, COUNTRY Financial, and State Farm. Mr. Nicol holds the Chartered Property and Casualty Underwriter (CPCU), Associate in Reinsurance (Are), and Agribusiness and Farm Insurance Specialist (AFIS) designations and serves as a Major in the U.S. Army National Guard and Army Reserves. He holds a bachelor’s degree in insurance from Illinois State University.

    Chris Oen has been promoted to Senior Vice President and Chief Claims Officer. Mr. Oen will continue to lead the Claims department, drawing on his 30 years of experience in the property and casualty insurance industry. He joined NI Holdings in 2007 and has held progressively senior roles during his time with the Company. Mr. Oen serves on several industry boards, including as Chairperson of the North Dakota Auto Assigned Claims Plan, and is a veteran of the Army National Guard. He holds a bachelor’s degree from the University of North Dakota and holds the Associate in Claims (AIC) designation.

    Dominic Weber has been promoted to Senior Vice President and Chief Actuary. Mr. Weber will continue to lead the Actuarial department and oversee reserving, ratemaking, and predictive analytics initiatives. With more than 42 years of experience in the property and casualty insurance industry, Mr. Weber previously served as Vice President and Chief Actuary at Society Insurance. He is a Fellow of the Casualty Actuarial Society (FCAS) and a Member of the American Academy of Actuaries (MAAA). He holds a bachelor’s degree in actuarial science from the University of Nebraska – Lincoln.

    Doug Duncan has been recently hired as Senior Vice President and Chief Information Officer. In this newly created role, Mr. Duncan will lead the Company’s technology strategy and oversee modernization initiatives to support business growth. He brings more than 25 years of technology leadership experience, including previous roles as Chief Information Officer at Columbia Insurance Group and Senior Vice President at Swiss Re. He holds a Master of Business Administration from Colorado State University and a bachelor’s degree from the University of Kansas.

    “The leadership of Kevin, Brandon, Chris, Dominic and Doug will strengthen our capabilities and help us better serve our shareholders, policyholders, and agents,” added Daggett. “We are confident these leaders will play a critical role in advancing our strategic priorities. Their diverse experience and proven leadership will help position NI Holdings for continued success.”

    About the Company
    NI Holdings, Inc. is an insurance holding company. The company is a North Dakota business corporation that is the stock holding company of Nodak Insurance Company and became such in connection with the conversion of Nodak Mutual Insurance Company from a mutual to stock form of organization and the creation of a mutual holding company. The conversion was consummated on March 13, 2017. Immediately following the conversion, all of the outstanding shares of common stock of Nodak Insurance Company were issued to Nodak Mutual Group, Inc., which then contributed the shares to NI Holdings in exchange for 55% of the outstanding shares of common stock of NI Holdings. Nodak Insurance Company then became a wholly-owned stock subsidiary of NI Holdings. NI Holdings’ financial statements are the consolidated financial results of NI Holdings; Nodak Insurance Company, including Nodak Insurance Company’s wholly-owned subsidiaries American West Insurance Company, Primero Insurance Company, and Battle Creek Insurance Company; and Direct Auto Insurance Company.

    Safe Harbor Statement
    Some of the statements included in this news release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results could vary materially. Factors that could cause actual results to vary materially include risks we describe in the periodic reports we file with the Securities and Exchange Commission. You should not place undue reliance on any such forward-looking statements. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.

    For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to our Annual Report on Form 10-K, as filed with the SEC.

    Investor Relations Contact:
    Matt Maki
    Executive Vice President, Treasurer and Chief Financial Officer
    701-212-5976
    IR@nodakins.com

    The MIL Network

  • MIL-OSI: XAI Octagon Floating Rate & Alternative Income Trust Will Host its Q1 2025 Quarterly Webinar on June 4, 2025

    Source: GlobeNewswire (MIL-OSI)

    CHICAGO, May 27, 2025 (GLOBE NEWSWIRE) — XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) (the “Trust”) today announced that it plans to host the Trust’s Quarterly Webinar on June 4, 2025 at 12:00 pm (Eastern Time). Kevin Davis, Managing Director at XA Investments (“XAI”) will moderate the Q&A style webinar with Kimberly Flynn, President at XAI, and Lauren Law, Senior Portfolio Manager at Octagon Credit Investors.

    TO JOIN VIA WEB: Please go to the Knowledge Bank section of xainvestments.com or click here to find the online registration link.

    TO USE YOUR TELEPHONE: After joining via web, if you prefer to use your phone for audio, you must select that option and call in using a number below, based on your current location.

    Dial: (312) 626-6799 or (646) 558-8656 or (267) 831-0333 or (213) 338-8477 or (720) 928-9299
    Webinar ID: 817 1030 7383

    REPLAY: A replay of the webinar will be available in the Knowledge Bank section of xainvestments.com.

    The investment objective of the Trust is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle. The Trust seeks to achieve its investment objective by investing in a dynamically managed portfolio of opportunities primarily within the private credit markets. Under normal market conditions, the Trust will invest at least 80% of its Managed Assets in floating rate credit instruments and other structured credit investments. There can be no assurance that the Trust will achieve its investment objective.

    The Trust’s common shares are traded on the New York Stock Exchange under the symbol “XFLT,” and the Trust’s 6.50% Series 2026 Term Preferred Shares are traded on the New York Stock Exchange under the symbol “XFLTPRA.”

    About XA Investments
    XA Investments LLC (“XAI”) serves as the Trust’s investment adviser. XAI is a Chicago-based firm founded by XMS Capital Partners in April 2016. In addition to investment advisory services, the firm also provides investment fund structuring and consulting services focused on registered closed-end funds to meet institutional client needs. XAI offers custom product build and consulting services, including development and market research, sales, marketing, fund management and administration. XAI believes that the investing public can benefit from new vehicles to access a broad range of alternative investment strategies and managers. XAI provides individual investors with access to institutional-caliber alternative managers. For more information, please visit www.xainvestments.com.

    About XMS Capital Partners
    XMS Capital Partners, LLC, established in 2006, is a global, independent, financial services firm providing M&A, corporate advisory and asset management services to clients. It has offices in Chicago, Boston and London. For more information, please visit www.xmscapital.com.

    About Octagon Credit Investors
    Octagon Credit Investors, LLC (“Octagon”) serves as the Trust’s investment sub-adviser. Octagon is a 30+ year old, $33.1B below-investment grade corporate credit investment adviser focused on leveraged loan, high yield bond and structured credit (collateralized loan obligation debt and equity) investments. Through fundamental credit analysis and active portfolio management, Octagon’s investment team identifies attractive relative value opportunities across below-investment grade asset classes, sectors and issuers. Octagon’s investment philosophy and methodology encourage and rely upon dynamic internal communication to manage portfolio risk. Over its history, the firm has applied a disciplined, repeatable and scalable approach in its effort to generate attractive risk-adjusted returns for its investors. For more information, please visit www.octagoncredit.com.

    XAI does not provide tax advice; please consult a professional tax advisor regarding your specific tax situation. Income may be subject to state and local taxes, as well as the federal alternative minimum tax.

    Investors should consider the investment objectives and policies, risk considerations, charges and expenses of the Trust carefully before investing. For more information on the Trust, please visit the Trust’s webpage at www.xainvestments.com.

    This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

    NOT FDIC INSURED        NO BANK GUARANTEE    MAY LOSE VALUE
             
        Paralel Distributors, LLC – Distributor    
             

    Media Contact:

    Kimberly Flynn, President
    XA Investments LLC
    Phone: 312-374-6931
    Email: kflynn@xainvestments.com
    www.xainvestments.com

    The MIL Network

  • MIL-OSI: Zscaler to Accelerate Innovation in AI-Powered Security Operations with Acquisition of Red Canary

    Source: GlobeNewswire (MIL-OSI)

    SAN JOSE, Calif., May 27, 2025 (GLOBE NEWSWIRE) — Zscaler, Inc. (NASDAQ: ZS), the leader in cloud security, today announced it has signed a definitive agreement to acquire Red Canary, a recognized leader in Managed Detection and Response (MDR). With over 10 years of expertise in security operations (SecOps), Red Canary has enabled its extensive customer base to investigate threats up to 10 times faster1 with 99.6% accuracy, while streamlining workflows through automated remediation. Combined with Zscaler’s massive amounts of high-quality data—derived from the world’s largest security cloud—and global intelligence from its ThreatLabz Security Research team, the combination will deliver a unified, agentic Security Operations Center (SOC) that combines AI-driven workflows with human expertise. These complementary capabilities will redefine how businesses detect, respond to, and mitigate modern cyber threats.

    “With our innovative AI-powered risk management services like Risk360 and the acquired data fabric technology from Avalor, we are disrupting legacy security operations just like we did with our Zero Trust ExchangeTM platform,” said Jay Chaudhry, CEO, Chairman, and Founder of Zscaler. “The proposed acquisition of Red Canary is a natural expansion of our capabilities into managed detection and response and threat intelligence to accelerate our vision of AI-powered SOC of the future. By integrating Red Canary with Zscaler, we will deliver to our customers the power of a fully integrated Zero Trust platform and AI-powered security operations.”

    Protecting nearly 45% of the Fortune 500 organizations, Zscaler has established over 15 years of leadership operating the world’s largest cloud security platform which processes over 500 billion daily transactions. It has leveraged its massive, high-quality data lake to accelerate the development of advanced AI-driven solutions, like Zscaler Digital Experience (ZDX) and Zscaler Exposure Management. A proven innovator in MDR, Red Canary has been recognized as a Leader in the Forrester Wave™: Managed Detection and Response for the third consecutive year and featured in the Gartner® Market Guide for MDR for the seventh year in a row. Within the SOC, Red Canary plays a crucial role by helping security teams automate remediation workflows, resulting in greater efficiency and improved security outcomes.

    By bringing together Zscaler’s AI-powered Zero Trust platform with Red Canary’s domain expertise in threat detection and response—spanning endpoints, identity, network, and cloud workloads—this transaction is uniquely positioned to address the operator pain points that often lead to missed signals, incomplete threat analysis, and increased vulnerability to undetected threats. The integration of Zscaler and Red Canary will better enable security teams to detect, triage, investigate, and respond to threats with greater speed and efficiency, helping organizations confidently and precisely tackle modern security challenges.

    “For over 10 years, we’ve protected our customers by combining high-fidelity signals with agentic AI, behavioral analytics, and global threat intelligence—delivering fast, accurate, and high-quality threat detection and response,” said Brian Beyer, CEO of Red Canary. “As part of Zscaler, we will elevate how IT and security teams address the rapidly shifting threat landscape with the strength of our combined technology and expertise. Zscaler’s global scale and reach provide the resources and granular data needed to fuel advanced AI, threat intelligence, and detection engineering, giving us a broader view of adversary behavior while enabling faster innovation across the board. Both companies share a relentless commitment to quality, execution, and delivering exceptional outcomes for our customers.”

    The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close in August 2025.

    ________________
    1 10x faster on average compared to traditional security approaches


    Forward-Looking Statements

    This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. These forward-looking statements include the expected benefits and impacts of the proposed acquisition. These forward-looking statements are subject to the safe harbor provisions created by the Private Securities Litigation Reform Act of 1995. A significant number of factors could cause actual results to differ materially from statements made in this press release, including those factors related to our ability to successfully integrate Red Canary technology into our cloud platform and our ability to retain key employees of Red Canary after the acquisition.

    Additional risks and uncertainties are set forth in our most recent Annual Report on Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on March 10, 2025, which is available on our website at ir.zscaler.com and on the SEC’s website at www.sec.gov. Any forward-looking statements in this release are based on the limited information currently available to Zscaler as of the date hereof, which is subject to change, and Zscaler will not necessarily update the information, even if new information becomes available in the future.

    About Zscaler

    Zscaler (NASDAQ: ZS) accelerates digital transformation so customers can be more agile, efficient, resilient, and secure. The Zscaler Zero Trust Exchange protects thousands of customers from cyberattacks and data loss by securely connecting users, devices, and applications in any location. Distributed across more than 150 data centers globally, the SASE-based Zero Trust Exchange is the world’s largest in-line cloud security platform.

    Zscaler™ and the other trademarks listed at https://www.zscaler.com/legal/trademarks are either (i) registered trademarks or service marks or (ii) trademarks or service marks of Zscaler, Inc. in the United States and/or other countries. Any other trademarks are the properties of their respective owners.

    Media Contact:
    Pavel Radda
    press@zscaler.com

    Investor Relations Contact:
    Ashwin Kesireddy
    ir@zscaler.com

    The MIL Network