SES to Acquire Intelsat in Compelling Transaction Focused on the Future
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Date: 30-04-2024 12:39PM
Source: SES S.A.
Category: General, Information Technology, Financial Analyst & Investors, Business Services, Technology, It & Tech
Location: Luxembourg & McLean, Va., United States
Business Wire India Value accretive transaction underpinned by €2.4 billion (NPV) of readily executable synergies.
Creating a stronger multi-orbit operator with ~60% of revenue in high growth segments.
Enhances competitive offerings to deliver customer value through segment-relevant solutions.
Expanded cash flows, profitable growth outlook, & strong balance sheet drive total shareholder return.
SES S.A. (“SES”) and Intelsat S.A. (“Intelsat”) announce an agreement for SES to acquire Intelsat through the purchase of 100% of the equity of Intelsat Holdings S.a.r.l. for a cash consideration of $3.1 billion (€2.8 billion) and certain contingent value rights. The combination will create a stronger multi-orbit operator with greater coverage, improved resiliency, expanded suite of solutions, enhanced resources to profitably invest in innovation, and benefit from the collective talent, expertise, and track record of both companies.
The combination will deliver greater value for customers and partners, as well as providing a compelling alternative in the new era of growth, innovation, and competition for the satellite communications industry. The transaction, which is subject to relevant regulatory clearances/filings and customary provisions concerning cooperation and measures in seeking such regulatory clearances, which are expected to be received during the second half of 2025, is fully supportive of SES’s financial policy and is underpinned by expected total synergies equivalent to 85% of the total equity value of the transaction. The transaction has been unanimously approved by the Board of Directors of both companies and Intelsat shareholders holding approximately 73% of the common shares have entered into customary support agreements requiring them to vote in favour of the transaction. Transaction highlights - Delivers €2.4 billion (NPV) of synergies (85% of equity consideration) with 70% executed within 3 years after closing.
- Expands multi-orbit satellite-based capabilities, spectrum portfolio, and global ground network to serve customers.
- Increases revenue in high demand and growing Networks segments representing ~60% of expanded revenue base.
- Combines complementary investment in space, ground, and network innovation to unlock future value and opportunity.
- Brings together a wealth of collective talent, expertise, engineering knowledge, and go-to-market capabilities.
- Company(1) will benefit from gross backlog of €9 billion, revenue of €3.8 billion, and Adjusted EBITDA of €1.8 billion.
- Medium-term Adjusted EBITDA growth driving future free cash flow (FCF) generation outlook.
- Commitment to investment grade metrics with net leverage below 3 times within 12-18 months after closing.
- Commitment to annual dividend of €0.50 per A-share with expanded FCF base supporting potential for future increases.
Adel Al-Saleh, CEO of SES, commented: “This important, transformational agreement strengthens our business, enhances our ability to deliver world-class customer solutions, and generates significant value for our shareholders in a value accretive acquisition which is underpinned by sizeable and readily executable synergies.
In a fast-moving and competitive satellite communication industry, this transaction expands our multi-orbit space network, spectrum portfolio, ground infrastructure around the world, go-to-market capabilities, managed service solutions, and financial profile. I am excited by the opportunity to bring together our two companies and augment SES’s own knowledge base with the added experience, expertise, and customer focus of the Intelsat colleagues. Going forward, customers will benefit from a more competitive portfolio of solutions with end-to-end offerings in valuable Government and Mobility segments, combined with value-added, efficient, and reliable offerings for Fixed Data and Media customers. This combination is also positive for our supply chain partners and the industry in creating new opportunities as satellite-based solutions become an increasingly integral part of the wider communications ecosystem. Our expanded business will deliver sustained EBITDA growth and strong cash generation, in turn supporting incremental profitable investment in capabilities and solutions to fulfil rapidly expanding and evolving customer demand while also delivering sustained returns to shareholders.” David Wajsgras, CEO of Intelsat, commented: “Over the past two years, the Intelsat team has executed a remarkable strategic reset. We have reversed a 10-year negative trend to return to growth, established a new and game-changing technology roadmap, and focused on productivity and execution to deliver competitive capabilities. The team today is providing our customers with network performance at five 9s and is more dedicated than ever to customer engagement and delivering on our commitments. This strategic pivot sets the foundation for Intelsat’s next chapter. By combining our financial strength and world-class team with that of SES, we create a more competitive, growth-oriented solutions provider in an industry going through disruptive change. The combined company will be positioned to meet customers’ needs around the world and exceed their expectations.” All financial information in this press release is stated using a foreign exchange (FX) rate of €1: $1.09. Pro forma (combined) revenue and gross backlog is adjusted to eliminate intercompany transactions. Pro forma leverage is after acquisition costs including related fees. The financial outlook assumes nominal satellite launch schedule and nominal satellite health status. Net Present Value (NPV) of expected synergies includes expected realisation costs. Further information regarding the financial information presented is provided below (see page 5). Overview of the transaction On closing of the transaction (subject to receipt of relevant regulatory clearances and other relevant requirements expected during the second half of 2025), SES will pay $3.1 billion (€2.8 billion) to acquire 100% of the equity of Intelsat Holdings S.a.r.l. in a transaction which implies an Enterprise Value of $5.0 billion (€4.6 billion). The transaction will be financed from existing cash and equivalents (which stood at €2.4 billion on 31 March 2024) and the issuance of new debt, including hybrid bonds. Additionally, SES will issue contingent value rights in respect of a portion of any potential future monetisation of the combined collective usage rights for up to 100 MHz of C-band spectrum. Prior to closing, both company’s existing management teams will maintain their focus on executing against their respective near-term business and financial objectives, as well as closing of the transaction. The combined SES will continue to be headquartered and domiciled in Luxembourg, while maintaining significant presence in the U.S., notably in the greater Washington, D.C. area. Highly accretive acquisition The transaction will be free cash flow accretive to SES from Year 1 and brings together two trusted operators with a combined gross contract backlog of €9 billion, growth-oriented portfolios concentrated on Networks segments with expanding demand, shared vision of delivering seamless end-to-end customer solutions, and complementary investment in innovation, while also sharing strong balance sheet metrics and long-term cash generation fundamentals. By integrating the two companies, SES expects to deliver synergies with a total net present value (NPV) of €2.4 billion (after approximately €155 million of estimated realisation costs), representing an annual run rate of €370 million of which approximately 70% is anticipated to be executed within 3 years after closing of the transaction. The NPV of the synergies is equivalent to 85% of the total equity value of the transaction, while opportunities to realise further synergies will be explored before and after closing. Most of the synergies are expected to be executed from the combination of selling, general, and administrative savings as well as optimisation of third-party capacity costs and future efficiencies in procurement. The remaining synergies will be captured from optimising the combined satellite fleets and ground infrastructure with the process expected to start soon after closing. Creating a stronger multi-orbit operator in the new market landscape Bringing together these two companies, with the associated synergies, will create a stronger multi-orbit operator better able to compete in a fast-moving satellite communications landscape and respond to the evolution of competing communications technologies. With a combined fleet of more than 100 Geostationary Earth Orbit (GEO) and 26 Medium Earth Orbit (MEO) satellites, the combined SES will benefit from enhanced coverage, greater network resiliency, complementary spectrum (C-, Ku-, Ka-, Military Ka-, X-band, and Ultra High Frequency) rights, and improved service delivery utilising an expanded network of ground segment assets. By end-2026, 8 new GEO (including 6 software-defined) satellites and 7 new MEO (O3b mPOWER) satellites are expected to be launched adding further redundancy and additional growth capacity. On a pro forma basis, Government, Mobility, and Fixed Data segments with expanding customer demand for reliable, high-performance connectivity solutions anywhere on land, at sea, or in the air will represent around 60% of SES’s total expanded revenue base of €3.8 billion, underpinning the group’s orientation to valuable growth segments. The integrated company will have a stronger financial profile compared with the standalone SES, with combined gross backlog of €9 billion (on 31 December 2023) underpinning future cash flow visibility, expected Adjusted EBITDA of €1.8 billion (year ended 31 December 2024) demonstrating robust profitability, and expected Adjusted EBITDA less CapEx of €0.8 billion (year ended 31 December 2024) supporting recurring cash generation fundamentals. In turn, the stronger financial profile enhances the ability to better invest in future network infrastructure, customer solutions, and future use-cases and/or business diversification opportunities with a better risk profile, than could be done by the two companies on a standalone basis. Strengthening competitive positioning with enhanced customer solutions With the creation of a stronger multi-orbit operator, customers across Government, Mobility, Fixed Data, and Media segments will benefit from an expanded set of capabilities and solutions which will enable them to expand their network reach, add further resiliency, improve productivity across their operations, and bring world-class experiences to their end-users. The combined company will be able to better meet growing Government demand for secure, reliable, and high-performance connectivity for a wide range of mission-critical applications. Customers will benefit from the integrated, multi-orbit solutions of both companies and their expertise in delivering trusted services for some of the most demanding government agencies and missions around the world. In Mobility, customers will be better served from bringing together the two companies’ complementary offerings, notably Intelsat’s commercial aviation division which today is serving nearly 3,000 connected aircraft, and SES’s maritime business which includes supporting five major cruise line operators via fully managed, multi-orbit connectivity agreements. The combination will also support the evolving needs of channel partners across the segments. In Fixed Data, customers will be able to take advantage of the combined company’s expanded multi-orbit network coverage, complementary innovations in software-defined delivery, and competitive offerings capable of seamless integration with cloud and 5G applications. Both companies have a proven record serving the requirements of major telecommunications companies, mobile network operators and cloud service providers in this growth segment. In Media, the transactions brings together complementary capabilities for customers including pay-TV operators, free-to-air/free-to-view platforms, public and private broadcasters, and sports & events brands who will have access to global audience reach with improved redundancy features via a competitive range of broadcast solutions, plus additional value-added services. Building sustained total shareholder return Based on the 2024 financial outlook, the combined company is expected to generate approximately €3.8 billion in annual revenue (after adjusting for intercompany eliminations) and is expected to deliver low- to mid-single digit average annual growth over the medium-term. Growth will be driven by the combination of high growth Government, Mobility, and Fixed Data businesses, anchored by a Media business with solid cash generation fundamentals, despite contracting capacity demand in mature markets due to expansion of terrestrial broadband networks and changing consumer viewing habits against which the combined company will be better positioned to compete. Including the benefit of OpEx synergies, 2024 pro forma Adjusted EBITDA of approximately €1.8 billion is expected to increase by a mid-single digit average annual growth rate. Adjusted EBITDA includes around €175 million of Intelsat non-cash revenue. The two companies are expected to invest combined CapEx of approximately €1 billion in 2024, with an average of €600-650 million per annum for the period 2025-2028 including synergies. The combination of growing EBITDA and decreasing CapEx will support future free cash flow expansion, supporting future investment in innovation and shareholder returns. The transaction is expected to deliver an internal rate of return of more than 10%. On closing, Adjusted Net Debt to Adjusted EBITDA is forecast to be around 3.5 times before reducing to below 3 times within 12-18 months after closing, consistent with SES’s commitment to maintain investment grade balance sheet metrics. SES will maintain an annual base dividend of €0.50 per A-share (€0.20 per B-share) with a stable to progressive dividend policy. Guggenheim Securities acted as lead financial advisor to SES. Morgan Stanley & Co. LLC acted as co-financial advisor. Deutsche Bank Securities Inc also acted as a financial advisor. Morgan Stanley and Deutsche Bank AG, Filiale Luxembourg are providing committed financing for the transaction. Both Guggenheim Securities and Morgan Stanley & Co. LLC rendered a fairness opinion to SES’s Board of Directors. Gibson, Dunn & Crutcher, Arendt & Medernach, Hogan Lovells, and Freshfields served as legal counsel to SES. PJT Partners served as financial advisor to Intelsat and rendered a fairness opinion to the Intelsat S.A. Board of Directors. Skadden, Arps, Slate, Meagher & Flom, and Elvinger Hoss Prussen served as legal counsel to Intelsat. Financial information presented in this press release Accounting recognition and measurement principles: SES financial information presented using the recognition and measurement principles of International Financial Reporting Standards (IFRS). Intelsat financial information uses those of U.S. Generally Accepted Accounting Principles (GAAP). The financial information presented for SES and Intelsat does not apply a consistent set of accounting policies. Currency conversion: all financial numbers based on an assumed foreign exchange (FX) rate of €1: $1.09. Pro forma financial information are aggregations of the corresponding SES and Intelsat financial information, adjusted for the elimination of material intra-group transactions. Financial Outlook information is conditional on nominal satellite health and nominal launch schedule. The following Additional Performance Metrics (APMs) are used: “Adjusted EBITDA” is reported EBITDA excluding significant special items as defined by SES and Intelsat respective managements, including (but not necessarily limited to) reorganisation costs and the impact of U.S. C-Band repurposing; “Gross Debt” represents current and non-current borrowings plus 50% of perpetual hybrid bonds; “Adjusted Net Debt” represents current and non-current borrowings plus 50% of perpetual hybrid bonds, less cash & cash equivalents; “Net Leverage” refers to Adjusted Net Debt divided by Adjusted EBITDA; “Capital Expenditure (CapEx)” represents net cash absorbed by investing activities excluding acquisitions, financial investments, and U.S. C-band repurposing; and “Gross Backlog” represents expected future revenue under existing customer contracts and includes both cancellable and non-cancellable contracts. Presentation for investors and analysts: A presentation of the transaction for investors and analysts will be hosted at 9.30 CEST on 30 April 2024 and will be broadcast via webcast and conference call. The details for the conference call and webcast are as follows: The presentation is available for download from https://www.ses.com/investors/financial-results and a replay will be available shortly after the conclusion of the presentation. Follow us on: Twitter | Facebook | YouTube | LinkedIn | Instagram Read our Blogs > Visit the Media Gallery > About SES SES has a bold vision to deliver amazing experiences everywhere on earth by distributing the highest quality video content and providing seamless data connectivity services around the world. As a leader in global content connectivity solutions, SES owns and operates the world’s only geosynchronous orbit and medium earth orbit (GEO-MEO) constellation of satellites with the unique combination of global coverage and high performance. By leveraging its vast and intelligent, cloud-enabled network, SES delivers high-quality connectivity solutions anywhere on land, at sea or in the air, and is a trusted partner to the world’s leading telecommunications companies, mobile network operators, governments, connectivity and cloud service providers, broadcasters, video platform operators and content owners. SES’s video network carries over 6,400 channels, reaching 363 million households, delivering managed media services for both linear and non-linear content. The company is headquartered in Luxembourg and listed on Paris and Luxembourg stock exchanges (Ticker: SESG). Further information is available at: www.ses.com. About Intelsat Intelsat’s global team of professionals is focused on providing seamless and secure, satellite-based communications to government, non-governmental organisations, and commercial customers through the company’s next-generation worldwide network and managed services. Bridging the digital divide by operating one of the world’s largest and most advanced satellite fleet and connectivity infrastructures, Intelsat enables people and their tools to speak over oceans, see across continents and listen through the skies to communicate, cooperate, and coexist. Since its founding six decades ago, the company has been synonymous with satellite industry “firsts” in service to its customers and the planet. Leaning on a legacy of innovation and focusing on addressing a new generation of challenges Intelsat team members now have their sights on the “next firsts” in space as they disrupt the field and lead in the digital transformation of the industry. Forward looking statements This communication contains forward-looking statements. Generally, the words “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “contemplate,” “predict,” “forecast,” “likely,” “believe,” “target,” “will,” “could,” “would,” “should,” “potential,” “may” and similar expressions or their negative, may, but are not necessary to, identify forward-looking statements. Such forward-looking statements, including those regarding the timing and consummation of the transaction described herein, involve risks and uncertainties. SES’s and Intelsat’s experience and results may differ materially from the experience and results anticipated in such statements. The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but not limited to, the following factors: the risk that the conditions to the closing of the transaction are not satisfied, including the risk that required approvals of the transaction from the shareholders of Intelsat or from regulators are not obtained; litigation relating to the transaction; uncertainties as to the timing of the consummation of the transaction and the ability of each party to consummate the transaction; risks that the proposed transaction disrupts the current plans or operations of SES or Intelsat; the ability of SES and Intelsat to retain and hire key personnel; competitive responses to the proposed transaction; unexpected costs, charges or expenses resulting from the transaction; potential adverse reactions or changes to relationships with customers, suppliers, distributors and other business partners resulting from the announcement or completion of the transaction; the combined company’s ability to achieve the synergies expected from the transaction, as well as delays, challenges and expenses associated with integrating the combined company’s existing businesses; the impact of overall industry and general economic conditions, including inflation, interest rates and related monetary policy by governments in response to inflation; geopolitical events, and regulatory, economic and other risks associated therewith; and continued uncertainty around the macroeconomy. Other factors that might cause such a difference include those discussed in the prospectus on Form F-4 to be filed in connection with the proposed transaction. The forward-looking statements included in this communication are made only as of the date hereof and, except as required by federal securities laws and rules and regulations of the SEC, SES and Intelsat undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additional Information and Where to Find It In connection with the proposed transaction, SES intends to file with the SEC a registration statement on Form F-4 that also constitutes a prospectus of SES. SES also plans to file other relevant documents with the SEC regarding the proposed transaction. No offer of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. INVESTORS AND SHAREHOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, PROSPECTUS AND OTHER DOCUMENTS THAT MAY BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Investors and shareholders will be able to obtain free copies of these documents (if and when available), and other documents containing important information about SES and Intelsat, once such documents are filed with the SEC through the website maintained by the SEC at http://www.sec.gov. Copies of the documents filed with the SEC by SES will be available free of charge on SES’s website at www.ses.com or by contacting SES’s Investor Relations Department by email at ir@ses.com. Copies of the documents filed with the SEC by Intelsat will be available free of charge on Intelsat’s website at www.intelsat.com or by contacting Intelsat’s Investor Relations Department by email at investor.relations@intelsat.com. No Offer or Solicitation This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. No offer of securities shall be made, except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. ______________________________ All financial information in this press release is stated using a foreign exchange (FX) rate of €1: $1.09. 1) Pro forma (combined) revenue (2024E) and gross backlog (at 31 December 2023) is adjusted to eliminate intercompany transactions. 2024E Adjusted EBITDA includes Intelsat non-cash revenue of ~€175 million. Financial outlook assumes nominal satellite launch schedule and nominal satellite health status. 
View source version on businesswire.com: https://www.businesswire.com/news/home/20240429202060/en/ 
CONTACTS : Richard Whiteing
SES Investor Relations
Tel: +352 710 725 261
richard.whiteing@ses.com Suzanne Ong
SES External Communications
Tel: +352 710 725 500
suzanne.ong@ses.com Clay McConnell
Intelsat Communications
Tel +1 571 419 9305
Clay.mcconnell@Intelsat.com
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Raj Kumar Addresses the Japanese Parliament Interactive Brokers Announces Extended Trading Hours for US Treasury Bonds Digital Transformation’s Next Era: Generative AI and Laserfiche 12 at 2024 Empower Conference P&G Health's Evion Launches Vitamin E Cream in a Brand-New Avatar Unlocking India's Regulatory Landscape: FIFI Collaborates with DAHD and FSSAI to Navigate Agricultural, Food, and Beverage Imports Tecnotree Achieves Strong Q1 2024 Results with Sustained Revenue Growth and Enhanced Profitability Bowlers from Allana Unveils Nutrimax: A New Range of Dog Food Former NABARD Chairman Dr. Govinda Rajulu Chintala Joins IIFL Samasta Finance as Chairman of Board Circular Computing and Total IT Global Join Forces to Advance Enterprise IT ESG Agenda Evion’s Vitamin E Cream in a Brand-New Avatar HCLTech Reports FY24 Revenue of $13.3 Billion, up 5.4% YoY Skyscanner Reveals Nearly Half of India's Gen Z Ready for First Independent Trips Abroad Takeda Receives Positive CHMP Opinion for Fruquintinib in Previously Treated Metastatic Colorectal Cancer Kinaxis Positioned Highest on Ability to Execute in the Gartner® Magic Quadrant™ for Supply Chain Planning Solutions ReNAgade Therapeutics Continues Commitment to GanNA Bio and Glycan Biology IDFC FIRST Bank PAT Increases by 21% YOY to Rs. 2,957 Crore for FY 24 Hindustan Zinc Unveils India's 2nd All Women Underground Mine Rescue Team, Reinforcing Commitment to #SafetyFirst TUM Races to Victory at ASPIRE’s Inaugural Abu Dhabi Autonomous Racing League at Yas Marina Circuit Ethiopian Airlines Takes Flight into the Future with Verteil’s Cutting-Edge NDC Technology Unlock.fit Launches CorpGene: Exclusive DNA-based Personalized Wellness Program for Corporate Wellness Enhancement in India Loka Viveka Launches the First HR Tech Venture Studio in India Geopolitical Stability, Inclusive Growth, Energy Security Under Spotlight in Riyadh at World Economic Forum Special Meeting Al Shindagha Museum - A Modern Journey through Dubai's Rich Heritage and Cultural Tapestry Happay Partners with Grant Thornton Bharat to Redefine Expense Management Across Indian Enterprises KPIT Clocks FY24 USD Revenue Growth of 40.4 Percent and PAT Growth of 56 Percent, Beating Increased Guidance for the Year Book on 100 Great IITians Launched at IIT Madras Leocorno Enterprises Ventures into Activated Charcoal Filter Category in India Poonawalla Fincorp Reports Highest Ever Yearly PAT of Rs. 1027 Crore in FY24, Jumps 83% YoY Intelsat, CNH Smart Farming Satellite Connectivity Coming to Brazil Todd Clegg Named Carestream’s Chief Executive Officer WHOOP Announces Significant Global Expansion, Appoints New Senior Leadership CORRECTING and REPLACING ReNAgade Therapeutics Continues Commitment to GanNA Bio and Glycan Biology WEF Special Meeting Concludes in Riyadh With World Leaders Calling for Clear, Irreversible Path to Peace and Prosperity as Top Global Priority PsiQuantum to Build World’s First Utility-Scale, Fault-Tolerant Quantum Computer in Australia Global Real-Time Payments Growth “Sustainable” As New Use Cases Push Transactions to Record Highs – ACI Worldwide Report Capco announces two executive appointments to drive continued growth of its financial services advisory capability in India Media Expo Mumbai 2024 to Showcase a Gamut of New-Age and Sustainable Products in May SES to Acquire Intelsat in Compelling Transaction Focused on the Future OPEX® Infinity® Automated Storage and Retrieval System Wins Prestigious International Red Dot Award for Product Design 360 ONE Wealth in Association with VCCEDGE Launches Its Sixth Edition of India Invests Report for FY 2024 Coca-Cola LATAM Ex-CIO, Miguel Piñeros Petersen Joins Salescode.ai as Global Director, Strategy and Solution Consulting, for its LATAM operations VTEX Unveils New Solutions and Supercharged Upgrades to Create Composable Customer Experiences, Sell from Everywhere, and Fulfill Faster 90 Minutes: Dr. Rasha Kelej Interacted with Africa’s Media and Alumni to Highlight Her Efforts to Transform Patient Care, Support Girl Education and Break Infertility Stigma Revolutionizing Audiobook Production: Walnut Publication Pioneers the Digital Narration Era Over 100 Impact Assessment Studies Show CSR’s Pivotal Contribution to India’s Educational Framework. However, Some Gaps Remain: SoulAce Gujarat Based Rahul Roadlines Strengthens Partnership with drivebuddyAI, Expands Fleet and Driver Safety Coverage with ADAS and AMCS Sovos Introduces Indirect Tax Suite to Meet Complexities of Global Compliance SMEStreet Celebrates 10 Years of Serving Indian MSMEs WNS Named a Market Leader in HFS Research First CX Service Providers Horizon Report Sustainability Regulation Propelling Transformation in Corporate Reporting, According to New Survey by Workiva Esri Releases Latest Land Cover Map with Updated Sentinel-2 Satellite Data Kesar Lands - Kesar India Limited Breaks Record with Early Delivery of Kesar Gateway, Sets New Industry Standard Spatial Announces Release 2024 1.0.1 Belkin Commits to be 100 Percent Carbon Neutral Across Its Entire Business by 2030 The Empire State Building Partners with WhatsApp and Mercedes-AMG PETRONAS F1 Team to Produce Dynamic Light Show, Fifth Avenue Demo Run, Exclusive Pop-Ups, and More Xsolla Founder Shurick Agapitov to Address the Future of the Internet at Qatar Economic Forum Black Hat Asia 2024 Showcases Latest Cybersecurity Findings at Singapore Event Saviynt Appoints Sanjeevi Kumar to Expand its Sales Footprint in India ShareChat Reduces Cloud Spend 70% with Redpanda Streaming Data Laserfiche AI Document Summarization: Simplifying Content Consumption and Powering Productivity Dubai Launches Global Blueprint for Artificial Intelligence VSPAGY Bags Two Golds and One Bronze at the Prestigious e4m DigiOne Awards Palace Dubai Creek Harbour Hotel Officially Opens Its Doors in the Heart of Dubai FORVIA and L&T Technology Services Agree Strategic Partnership on Ultra-low Emissions Engineering in Germany and India WNS (Holdings) Limited Announces Details of Extraordinary General Meeting of Shareholders Planview Accelerates Transformation Impact with Next Generation Connectivity, Visibility, and AI-Driven Insights WNS to Participate at Q2’24 Investor Conferences The Rise of the RummyBo - a Revolution in Digital Entertainment EZTax Launched India's 1st AI-Enabled Income Tax Filing Mobile App Wipro to Implement Independent Health’s Medicare Prescription Payment Plan Platform True Establishes Talent Advisory Practice and Strategic Alliance with Hogan Assessments Rocket Software Closes $2.275B Acquisition of OpenText’s Application Modernization and Connectivity Business LambdaTest Enhances Security and Performance with SOCKS5 Proxy and HTTP/2 Support MullenLowe Lintas Group Commissions ‘State of States’, a Pioneering Study to Deconstruct the Different Indian Cultures in Collaboration with Quantum Solutions Keyloop completes the acquisition of Automotive Transformation Group (ATG) StoCoMo - Motilal Oswal’s Popular Investors Network Is Now Open for All Legendary Cricketer Pat Cummins Visits Two Stores of GKB Opticals in Hyderabad Pune Based Rasayu Cancer Clinic Signs MoU with Uttarakhand State Government for Ayurveda and Cancer Treatment Lifezone Metals to Provide its Q1 2024 Operational Update and Financial Summary on Monday, May 13, 2024 Rimini Street Announces Fiscal First Quarter 2024 Financial and Operating Results Mariana Oncology to be Acquired by Novartis to Advance Precision Radiopharmaceuticals to Treat Cancer Lime Trading teams up with start up, TakeProfit, to Empower the Next Generation of Retail Traders Lenovo Advances Focus on Customer Security with new AI-powered Cyber Resiliency as a Service SMT and HeartX Forge Transformative Partnership in Cardiovascular Space Max Estates to Expand Luxury Residential Portfolio Through a Strategic Joint Development Agreement in Gurugram SES AI Reports First Quarter 2024 Earnings Results; Affirms 2024 Outlook GlobalLogic Recognized as Leader in Everest Group’s Software Product Engineering Services Celonis Recognized as a Leader for Second Consecutive Year in 2024 Gartner® Magic Quadrant™ for Process Mining Platforms LALIGA Holds ‘EXTRA TIME’ Webinar Series in India to Discuss the Future of Sports Rakuten India Announces the 4th Edition of RPC '24 Parse Biosciences Launches Single Cell Immune Profiling Products Mary Kay Inc. Announces Expansion Into Denmark, Strengthening Its Commitment to Women's Empowerment in Scandinavia KLDiscovery Takes Steps to Strengthen Balance Sheet and Long-Term Financial Foundation SLB OneSubsea and Subsea7 Sign Long-Term Strategic Collaboration Agreement with Equinor; Commence Work on Wisting and Bay Du Nord Projects Power2Drive Europe: Contributing to the Energy Transition With Bidirectional Charging The Indy Autonomous Challenge Returns to the Indianapolis Motor Speedway on September 6, 2024 Brightcove Integrates New AWS-Powered Generative AI Solution to Enhance Its Award-Winning Customer Service Big Bang Mediaverse and Pangea Entertainment Productions Announce Co-Production Partnership MOGAS Mourns the Death of Their Beloved Chairman and Founder Vincent Louis Mogas Tech Data Capital to Launch in Singapore, India, and Australia to Empower Partner Growth Through Flexible Financial Solutions Can Influencers Be Effective in Creating a Social Impact: GiftstoIndia24x7 SES to acquire Intelsat: Investor Relations Frequently Asked Questions Tata CLiQ Luxury expands its pre-owned category with the introduction of exquisite luxury handbags INRED and SES to Provide High-Throughput Connectivity Across Colombia’s Amazonas Ex- DocuSign, Oracle Leader Appointed to 6sense Senior Vice President of GTM International Aventose’s Industry First Patented Platform Can Boost EV 2-Wheeler Adoption from 5% to 30% by 2030 Ekresha - Benaras Ki Dor, New Online Destination for Fashion DBS Bank India Recognised as ‘Best Employer’ 2023 by Kincentric LTIMindtree and IBM Collaborate on watsonx Center of Excellence for Generative AI Embrace Prosperity and Elegance This Akshaya Tritiya with ORRA's Exquisite Diamond Jewellery Collection Indian Pharmaceutical Leaders Urge U.S.-India Partnership ‘Affordable Medicine Partnership’ Eaton Receives 2024 Automotive News PACEpilot Recognition for Its 4-Speed Electrified Vehicle Transmission Natural8 India Launches 1000 Plus Daily Tournaments: A Game-Changer in Online Poker Industry Siguler Guff Builds 240 Crore Stake in Spandana Sphoorty, a Leading Microfinance Lender Mavenir and Amazon Web Services Join Forces to Usher in a New Era for Public Cloud-Based Telco Networks ZS announces significant investment in AI-infused and gen AI global self-serve products ATMECS Global Accelerates AI Innovation by Joining the NVIDIA Partner Network as Solution Advisor Consultant. NetApp Appoints Market Growth and Revenue Operations Leader, Dallas Olson to Chief Commercial Officer Role The Empire State Building Partners with Outward Bound on First-Ever, Full Rappel Down the Building for Charity Galderma Receives Filing Acceptances for Nemolizumab in Prurigo Nodularis and Atopic Dermatitis in Four Additional Countries How Ludo has found a new life in this digital era MilkLane: Revolutionizing Indian Dairy with Technology and Transparency American Brew Crafts Acquires Denzong Brewery in Odisha QVC Signs Multi-Year Contract Extensions with SES in Germany and the UK Miniature Circuit Breaker ‘Hidden Hero’ Enabling Energy Transition Built on 100-Year Safety Legacy Ant Digital Technologies Joins HKMA’s Project Ensemble, Included in Sandbox and Architecture Community Stronghold Enhances Payment Network with Strategic Acquisition of 20022 Labs Indian Pharmaceutical Alliance Calls for a Stronger U.S.-India Partnership for Affordable Medicine Power Integrations to Acquire the Assets of Odyssey Semiconductor New Market Research Finds Up to 20% of AI Initiatives Fail Without Intelligent Data Infrastructure Visa Announces Generative AI-Powered Fraud Solution to Combat Account Attacks Boomi Announces 2024 Partner Award Winners Blackstone Appoints Philip Sherrill as Global Head of Insurance Boomi and RSM US LLP Extend Strategic Business Alliance to Empower Middle Market Organizations with Seamless Integration Solutions Landmark Report Proves That High Nicotine Use Does Not Lead to High Rates of Health Issues Energy Vault Announces Successful Testing and Commissioning of First EVx 100 MWh Gravity Energy Storage System by China Tianying, Extension of Atlas Renewable Licensing Agreement to 15 Years Caseology by Spigen Unveils Pixel 8a Cases Featuring Unique Designs, Patterns, Grips in Various Colors R Systems Launches Groundbreaking Solution at Boomi World 2024 to Revolutionize Supply Chain Management LC-Plasma-based Vaccine Research Selected for SCARDA Project SLB OneSubsea and Subsea7 Awarded Integrated Contract for OKEA’s North Sea Bestla Project Mohammed bin Rashid Al Maktoum Global Water Award extends application deadline until end of May RevBits Sweeps the Cyber Defense Magazine Global InfoSec Awards Across Eight Categories During the 2024 RSA Conference AB InBev Reports First Quarter 2024 Results Fields and the Sun: Agricultural PV, an Opportunity for the Energy and the Farming Industry MultiBank Group Honored as Best Gold Broker of 2024 by FX Empire Tradu launches crypto exchange saving clients up to 95% on trading fees Rustomjee Group Expands Footprint in Bandra with Grand Launch of The Panorama at Pali Hill GLIA Integrated Healthcare Offers a Gentler, Non-Invasive Approach to Cancer Care Tecnotree Partners with People+AI to Drive Open Cloud Compute Infrastructure and AI Standardisation BeiGene Reports First Quarter 2024 Financial Results and Business Updates Cardano Foundation Names Giorgio Zinetti as Chief Technology Officer Eaton to supply innovative ELocker differential system to leading electrified vehicle manufacturer ADROSONIC Launches Quality Engineering Practice to Optimize ROI on IT Spend Aark Developers Announce US$ 1.2 Billion Project, SORA Beach Residences, at Al Marjan Island RunPod Raises $20M in Seed Funding Co-led by Intel Capital and Dell Technologies Capital Tigo Energy Delivers Most Powerful Solar MLPE for High-Wattage and Bifacial Modules APO Forges Strategic Initiatives and Global Partnerships to Advance Productivity Boomi Doubles Down on API Management with Key Acquisitions Study Suggests Critical Link Between Residual FLT3-ITD Mutations in Remission and Post-Transplant Outcomes in AML Boomi Unveils New Vision with Strategic Acquisitions and Latest Innovations at Boomi World 2024 Rimini Street Earns Four 2024 Top Rated Awards from TrustRadius in the Services Category Century Plyboards Expands Its Product Category with Century Cubicles The smarter E AWARD 2024: Finalists Present Pioneering Solutions for a Renewable 24/7 Energy Supply Asia Pacific Needs to Scale Low-Carbon Technologies Rapidly to Reduce Carbon Emissions: Black & Veatch Dairen Chemical Corporation Joins The LYCRA Company and Qore® in the Development of Renewable LYCRA® fiber EDX Markets Launches Singapore-Based EDXM Global Talkdesk Hires Simon Horrocks as Asia-Pacific Leader to Turbocharge the Company’s Regional Growth as Artificial Intelligence Innovator Takeda Announces FY2023 Full Year Results and FY2024 Outlook, Affirming Commitment to Late-Stage Pipeline Development and Core Operating Profit Margin Expansion Motorola Disrupts the Indian True Wireless Stereo (TWS) Category with the Launch of moto buds and moto buds+ in Collaboration with Bose, at an Effective Launch Offer Price of Just Rs. 3,999 and Rs. 7,999 Respectively ISB Launches I-Venture Immersive ivi Programme for Grassroot Entrepreneurs; No Degree, CAT, GMAT, GRE Needed Bloomberg Media and Emeritus Partner to Launch “Bloomberg Learning” Nordic and Sisvel to Streamline Cellular IoT SEP Licensing Energy Vault, ACEN Australia Announce Agreement for 400 MWh of Battery Energy Storage Deployments L&T Technology Services Celebrates Innovation and Talent at TECHgium 2024, India’s Largest Engineering Hackathon Boomi to Simplify and Accelerate the Move to SAP Datasphere Tecnotree Collaborates with People+AI to Drive Open Cloud Compute Infrastructure and AI Standardization AskmeOffers Launches AI-Powered Coupon System, Redefining Online Savings Viega Celebrates a Milestone: 125 Years of Global Excellence LeaseAccelerator and Uniqus Launch Strategic Alliance for Lease Lifecycle Management Wipro Appoints Vinay Firake as Chief Executive Officer for APMEA Strategic Market Unit Public Affairs Forum of India Announces New Office Bearers for 2024-25 Mother Like No Other WNS Files Fiscal 2024 Annual Report on Form 20-F IIFL Securities Appoints Nemkumar as Managing Director Honoring the Heartbeat of Every Home This Mother’s Day: Terribly Tiny Tales and Haier India Launch 'Mothership2.0’ Kolmar BNH, a Top-Tier Korean Enterprise Specializing in the Production of HemoHIM, Dedicates over 2% of its Annual Sales to R&D The Ministry of Investment of Saudi Arabia (MISA) Signs MoU with Ant International to Expand Business in Saudi Arabia, Supporting Regional Digital Innovation The AGC Group Obtains Its First Cradle to Cradle Certified® for Mirox MNGE Interior Glass Products in Asia Hai Robotics Deploys Goods-to-Person Solution in L'Oréal China's First SMART Fulfillment Center Fuelling India's Fitness Revolution, Myprotein Unveils Ambitious Plan to Support Indian Athletes and Aspiring Olympians Durex’s #ExplorersWanted Campaign Invites Couples to Discover New Horizons Together Jaisalmer Indian Craft Gin, an Epitome of Luxury, Leads the Luxury Indian Craft Gin Space with 50 Percent Market Share Commercial Bank of Dubai Names QualityKiosk as Exclusive Partner to Develop CBD’s Testing Centre of Excellence as Part of Its Technology Strategy Refresh Initiative MG Celebrates Its Centenary Year; Launches ‘100-Year Limited Edition’ in India WNS Recognized as a ‘Leader’ by NelsonHall for CX Services Transformation FPT Software and Forthcode Join Forces to Revolutionize Inflight Operations GRAMINEX®, L.L.C. Final Publication of a Peer Reviewed Clinical Trial with Graminex® Flower Pollen Extract Focusing on Women’s Urinary Incontinence in Current Urology. Sarla Aviation Raises Pre-Seed Investment from Campus Fund AC Immune and Takeda Sign Exclusive Option and License Agreement for Active Immunotherapy Targeting Amyloid Beta for Alzheimer’s Disease WHOOP Announces Global Partnership with Cristiano Ronaldo L&T Technology Services Named a Top 15 Sourcing Standout by ISG Cepton Announces Significant Engineering Contract with Koito The Indian Chest Society Unveils Special Booklet on Cough Management Alvaria Announces Expansion of Avaya Partnership to Include Alvaria CX Premier Enterprise-scale Omnichannel Compliant Outbound Engagement NielsenIQ launches GenAI-based tool NIQ Ask Arthur into NIQ Discover empowering users to unlock the power of data FPT Software Partners with Siemens to Provide Low-code Platform Mendix in Korean and Japanese Markets SEKO Logistics Promotes Paul Good to APAC President Falcon 2: UAE’s Technology Innovation Institute Releases New AI Model Series, Outperforming Meta’s New Llama 3 NTT DATA to Provide Digital Transformation Services for Salesforce Major Construction Company Deploys Boomi to Build Stable Data Core m.Stock Trading App by Mirae Asset Breaks into Top 16 Broker List in Just Two Years Merck Foundation Announces 83 Winners of Their 2023 Media Awards from 22 African Countries - in Partnership with Africa First Ladies Murata’s New LCT Redefines Power Supply Noise Suppression, Reducing Component Count and Costs Optiscan Signs Know-How Agreement with Mayo Clinic Vadilal Unveils New Quirkiest Summer Campaign Where Joy, Flavor, and ‘WAAH’ Moments Unite P&G unveils plans to prominently feature superior performing brands during the Olympic and Paralympic Games Paris 2024 EIG’s MidOcean Energy Appoints Armand Lumens as CFO NetApp and Lenovo Offer Converged Infrastructure Solution Optimized for GenAI NetApp Unveils Unified Data Storage Built for the AI Era Takeda to Present Oncology Portfolio and Pipeline Data at the 2024 ASCO Annual Meeting Sharekhan Triumphs Again with Top Industry Recognitions in 2024 Actions Technology’s Smart Watch SoC Adopted VeriSilicon’s 2.5D GPU IP Online Trading Broker Taurex Launches New App That Makes Trading Simple for Everyone Xsolla Releases Quarterly Insights Report on the Future of Gaming and Game Development: a Preliminary Analysis of Spring 2024 Metrics and Upcoming Trends Pink Lipsticks and Green Thumbs: Mary Kay Inc. Celebrates 60 Years of Sustainable Beauty With Special Tree Planting Event in Lewisville Vibhu Agarwal Announces India's First Mythology OTT Platform 'Hari Om' LambdaTest Partners with BugHerd to Optimize Web Testing and Bug Tracking VFS Global Maintains Sharp Focus on Sustainability Agenda, Records New Milestones in 2023 Allianz Increases Operating Profit by 6.8% to 4.0 Billion Euros Mangaluru-Based Mukka Proteins Net Profit Stood at Rs 29.15 Crores for the Quarter Ended March 31, 2024 Ashhwika Foundation's Successful Wholesome Wellness Event and Raguel Harmony Community Launch HDFC Life Declares Rs. 3,722 Cr. Bonus for Policyholders Motorola’s Newly Launched moto buds+ and moto buds Launched in Collaboration with Bose Go on Sale at an Effective Price of 7,999* and 3,999* on Flipkart and motorola.in MRM Health to Present Positive Clinical Data from MH002 in Ulcerative Colitis at Digestive Disease Week (DDW) Every CLiQ is more rewarding at The Big CLiQ Sale on Tata CLiQ, Tata CLiQ Luxury, and Tata CLiQ Palette HEINEKEN Teams Up With Blue Yonder To Improve Demand Planning Gradiant Launches ForeverGone, the Industry’s Only Complete PFAS Removal and Destruction Solution ISB Executive Education & Emeritus Introduce High-Impact Certificate Programme to Enhance Proficiency in IT Project Management, Addressing Industry Skill Gap FinalSpark Launches the First Remote Research Platform Using Human Neurons for Biocomputing Cognite Data Fusion® Now Available on Google Cloud in Saudi Arabia FPT Software Renews HITRUST r2 Certification, Upholding The Highest Standards Of Security And Compliance Diligent Announces Enterprise Risk Management Dashboard Powered by Moody’s Proprietary Data, Providing a Comprehensive View of External Risk Kinaxis Selected by Harley-Davidson as Supply Chain Management Platform Solution Pacific Healthcare Group Selects Rimini Street to Extend the Life and Value of its Highly Customized, On-Premises Oracle Environment Worldcoin Foundation Launches, Open Sources "Perfect Secrecy" SMPC System to Help Organizations Strengthen Biometric Data Security Protections Motorola Launches edge 50 Fusion - Disrupts the Sub 25K Indian Smartphone Market with Segment’s Best 50MP Camera with Sony’s Powerful LYTIA™ 700C Sensor, 144Hz Curved Display and IP68 Underwater Protection at an Effective Price Starting at Just Rs 20,999* EM-Power Europe: Flexible Consumers Take the Burden Off the Grid ACT Abu Dhabi Is Now Open for Business Andersen Global Launches Member Firm in Belgium Fluor Opens Second Office in India to Increase Execution Capacity New Research Shows AI Vision to Action Gap GENESIS-II Study Reveals Promising 30-Day Results for the Hydra Self-Expanding Transcatheter Aortic Valve CRN Recognizes Noel Loughrin, Katherine Hou, and Kristen Petruzzelli of Laserfiche on the 2024 Women of the Channel List Visa Reinvents the Card, Unveils New Products for Digital Age LALIGA Concludes Extra Time Webinar Series: Discussing Sports Culture Development in India New Award Programme From Oral-B and the International Association for Disability and Oral Health (iADH) Champions Disability Positive Dental Practices Across Europe Hytera Wins ICCAs Award 2024 with MCS Solution FPT Entered Asia's Top 50 IT Services Companies Practo Foundation Completes 2000 Free Cataract Surgeries, Sets Sight on 10,000 Eaton Introduces 48-Volt DC/DC Converter Designed for Harsh Environments Kinaxis Announces Flo Rida as Music Headliner for Kinexions 2024 Brightcove Named a Leader in ‘The Aragon Research Globe for Enterprise Video, 2024’ Report for the Third Consecutive Year Introducing GMI Cloud: New On-Demand Instances Accelerate Access to NVIDIA GPUs BYD Launches Its First Pickup Truck BYD SHARK in Mexico Samco Mutual Fund Introduces Samco Special Opportunities Fund: Leveraging Disruption for Potential Growth Bollywood Sensation Kartik Aaryan, Appears in a New Out-of-This-World Avatar for Sony Sports Network’s UEFA EURO 2024 Campaign Film CMR Study: BOULT Emerges as India's No. 1 Rated Audio Brand FPT Software Named A Representative Vendor In the 2024 Gartner® Market Guide For Public Cloud Managed And Professional Services, Asia/Pacific Experience the Essence of Old and New Japan as Renowned Bartender Shingo Gokan Collaborates with Toki Suntory Whisky and The Leela Palace in Delhi and Bengaluru Zoomcar Plans to Add 20,000 Additional Cars by 2025 Merck Foundation CEO and Africa First Ladies Release Storybook and Animation Film “Mark’s Pressure” to Mark “World Hypertension Day” 2024 Transforming Real Estate: India’s Leading Proptech Program Successfully Concludes Cohort II with Speed Scaling 5 Incredible Startups Skoda Auto India Implements New Corporate Identity as Part of Its New Era Chili's American Grill®? Makes a Grand Entry into the City of Ahmedabad Pat Cummins, the Brand Ambassador of Carrera & Captain of Sunrisers Hyderabad Launched a New Summer Collection Zydus Reports 97% Growth in Net Profit in FY24 Wipro Appoints Sanjeev Jain as Chief Operating Officer
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