Companies news of 2017-12-01 (page 1)

 
Fineqia Announces Strategic Shift Toward Blockchain Technologies

LONDON, December 1, 2017 /PRNewswire/ --

Fineqia International Inc. (the "Company" or "Fineqia") (CSE: FNQ) (OTCPink: FNQQF) (Frankfurt: FNQA) is pleased to announce that it will adopt distributed ledger technologies, commonly referred to as the blockchain, as it builds out its alternative finance business.

Fineqia's business focus within the emerging paradigm of blockchain based financial services is being crafted by its management in dialogue with regulatory bodies, technologists, investors and entrepreneurs involved with blockchain companies.

As part of this strategic shift, the Company will consider strategic investments in and acquisitions of companies developing and propagating blockchain based financial solutions that are adjunct to the Company's core business of placing debt and equity securities.

"Blockchain technologies and crypto currencies represent a potentially powerful ally in our mission to democratise financial services," said the Company's CEO Bundeep Singh Rangar. "Use of the blockchain could create more efficient means for financial transactions than those in use today."

About Fineqia International

Fineqia International is a listed entity in the Canada (CSE: FNQ), US (OTCPink: FNQQF) and Europe (Frankfurt: FNQA). Fineqia International outlines the Company's corporate governance, culture, processes and relations by which the Company and its subsidiaries are controlled, directed and governed. Fineqia International oversees and ensures the overall success, planning and growth of the Company and all of its subsidiaries. For more information visit https://investors.fineqia.com/news

FORWARD-LOOKING STATEMENTS 

Some statements in this release may contain forward-looking information (as defined under applicable Canadian securities laws) ("forward-looking statements"). All statements, other than of historical fact, that address activities, events or developments that Fineqia (the "Company") believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, the  failure to obtain sufficient financing, and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Any forward-looking statement speaks only as of the date on which it is made except as may be required by applicable securities laws. The Company disclaims any intent or obligation to update any forward-looking statement except to the extent required by applicable securities laws.

For more information about Fineqia, please contact: Karolina Komarnicka, Chief Marketing Officer, Karolina.Komarnicka@Fineqia.com, Tel: +44-203-500-3462, W: http://www.fineqia.com

Hisense Laser TV shines at the Kremlin

MOSCOW, Dec, 1, 2017 /PRNewswire/ -- Hisense, an official sponsor of the 2018 FIFA World Cup Russia?, today saw its innovative and versatile 100" Laser TV bring the Final Draw for 2018 FIFA World Cup Russia? to life at Moscow's iconic Kremlin. As a proud sponsor, Hisense will engage in various global marketing and advertising activities for the competition and help bring all the action straight from the pitch to fans across the world.

Hisense Laser TV shines at the Kremlin

Hisense had a strong presence at Final Draw which saw the groups and first fixtures for the participating 32 teams announced. The event was attended by national team managers, FIFA delegates and footballing legends.

As part of a commercial display inside the Kremlin, Hisense's latest product was on show ? the world's leading 4K Laser TV, which delivers incredible contrast, color and detail with its innovative X-Fusion technology that utilizes a precise light source for sharper images and more natural colors. The product lit up the room as it showed the results of the draw.

Zhu Dan, VP of Hisense International, added: "Hisense is a leader in developing cutting edge technology for its customers. The Laser TV provides a heightened experience for viewers with 100" anti-reflective screen that is easy on the eye, has 110 watts of superior audio and includes everyone's favorite apps via the smart TV function. When viewing the 2018 FIFA World Cup Russia? fans will be able to watch the matches in the best picture quality available."

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Independent Study: ROI of 307% and 12-month Payback for Basware's P2P Cloud Solution Customers

ESPOO, Finland, Dec. 1, 2017 /PRNewswire/ -- Basware, the global leader in networked source-to-pay solutions, e-invoicing and innovative financing services announced today the results of a commissioned study conducted by Forrester Consulting on behalf of Basware, titled The Total Economic Impact? Of Basware's Purchase-To-Pay Cloud Solution. The study examines the potential return on investment (ROI) enterprises may realize by deploying Basware's P2P cloud solution.

Forrester's interviews with five existing Basware customers and subsequent financial analysis found that interviewed organizations experienced benefits of ?4.6 million over three years versus costs of ?1.1 million, adding up to a net present value of ?3.5 million and an ROI of 307%. On average the payback time for the investment was 12 months. Interviewed companies are large business service companies with approximately ?300 million in annual spend.

Among the key findings highlighted in the study, which analyses how P2P cloud solutions benefit current Basware customers, are for example the following: increased spend under management, AP productivity gains, end-user time savings and maintenance cost savings.

"Without a doubt, the P2P solution helped us to bring more spend under management. We're absolutely light years ahead of where we were," said one interviewee, vice president of procurement and technology services of a large hospitality company.

Another interviewee, global head of procurement and knowledge operations in a business service organization, highlighted the savings in concrete terms.

"We actually measured and estimated our whole invoice processing cost. I think we were calculating at the beginning our processing costs to be around ?40 per invoice, and now I think we're down to ?22, including full labor costs and associated IT costs. We roughly lowered our invoice processing cost by 45%."

Vesa Tykkyläinen, Basware's CEO, comments: "Benefits are clear, no doubt about it. The question is not 'who should implement our solutions' but 'who can afford NOT to'? With Basware's P2P cloud solution organizations can automate their processes, gain visibility, and realize significant cost savings. The future of purchase-to-pay lies truly in the cloud."

More information:

Read the commissioned study conducted by Forrester Consulting, The Total Economic Impact? Of Basware's Purchase-To-Pay Cloud Solution (November 2017). 

About Basware 

Basware is the global leader in providing networked purchase-to-pay solutions, e-invoicing and innovative financing services. Basware's commerce and financing network connects businesses in over 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. Find out more at www.basware.com.

Follow Basware on Twitter: @Basware, join the discussion on Basware LinkedIn, Basware Facebook and Basware Blog

Contact:
press@basware.com   

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ARRIS Completes Acquisition of Ruckus Wireless and ICX Switch Business

Combination poised for next stage of growth in networking

SUWANEE, Georgia, Dec. 1, 2017 /PRNewswire/ -- ARRIS International plc (NASDAQ: ARRS) has completed its acquisition of the Ruckus Wireless® and ICX® Switch business from Broadcom Limited (NASDAQ: AVGO). With this acquisition, ARRIS® builds on a leadership position in networking and entertainment for service providers while expanding into new enterprise and vertical markets.

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The deal strategically positions ARRIS for a new phase of growth by leveraging the companies' combined technology assets to enable next-generation wireless and wired networks. The Ruckus target vertical markets span hospitality, education, government, service providers, multi-dwelling / tenant units, sports / entertainment venues, and transportation centers. Additionally, Ruckus' trailblazing leadership in the small-cell CBRS LTE market represents an opportunity to deploy converged Wi-Fi and LTE using common cloud-based control and management capabilities.

Dan Rabinovitsj?previously COO of Ruckus Wireless?will lead a new ARRIS Enterprise Networks business segment. Ruckus Networks, an ARRIS company, will operate as a dedicated business under Enterprise Networks. The business will focus on the delivery of innovative, high-performance wireless and wired network infrastructure, with a robust channel-led sales strategy.

"This combination underscores our shared vision of achieving market leadership across wireless and wired networks in close partnership with our valued customers and channel partners," said Dan Rabinovitsj, President of ARRIS Enterprise Networks. "We're very excited about the collaboration opportunities across our product portfolios to enable connectivity from the office to the home and to all the places in between. Joining ARRIS means we still do what Ruckus does best, but on a larger, global scale. I'm excited to lead the Ruckus Networks team into our next stage of growth and innovation."

"I'm proud to welcome the 1,700 talented Ruckus Wireless and ICX Switch Business employees into the ARRIS family," said Bruce McClelland, ARRIS CEO. "It's an important milestone, not only for ARRIS but for our industries. Ruckus' unmatched expertise in wireless and wired networking perfectly complements our growth strategy of driving towards a constantly connected, mobile future. The acquisition brings diversification to our portfolio, building on our strength in networking and helping us to serve new verticals. Ultimately, our combined portfolios and scale will help our customers and partners deliver a smart, simple connected world for billions of people."

ARRIS management will conduct a conference call at 8:00 am ET, Thursday, December 14, 2017, to provide an update on Ruckus Networks. You may participate in this conference call by dialing 888.655.5028 or +1.503.343.6025 for international calls prior to the start of the call.  Live internet access to the call will be available through the following link. A replay can be accessed approximately two hours after the call through December 21, 2017, by dialing 855.859.2056 or +1.404.537.3406 for international calls and using the passcode 6288025. A replay also will be made available for a period of 12 months following the conference call on the ARRIS web site.

About ARRIS
ARRIS International plc (NASDAQ: ARRS) is powering a smart, connected world. The company's leading hardware, software and services transform the way that people and businesses stay informed, entertained and connected. For more information, visit www.arris.com.

For the latest ARRIS news:

Forward-Looking Statements
Statements made in this report related to the acquisition of the Ruckus Business Networks, the general market outlook and industry trends are forward-looking statements. These statements involve risks and uncertainties that may cause actual results to differ materially from those set forth in these statements. Among other things, the anticipated benefits from the Ruckus Networks acquisition may not be realized; we may encounter significant transaction costs and unknown liabilities in connection with the Ruckus Business Networks acquisition; our customers operate in a capital intensive consumer-based industry, and volatility in the capital markets or changes in customer spending may adversely impact their ability or willingness to purchase the products that we offer; and because the market in which we operate is volatile, actions taken and contemplated may not achieve the desired impact relative to changing market conditions and the success of these strategies will be dependent on the effective implementation of those plans while minimizing organizational disruption

In addition to the factors set forth elsewhere in this release, other factors that could cause results to differ from current expectations include: the impact of rapidly changing technologies; market trends and the adoption of industry standards. These factors are not intended to be an all-encompassing list of risks and uncertainties that may affect the Company's business and results from operations. Additional information regarding these and other factors can be found in the Company's reports filed with the Securities and Exchange Commission, including its Form 10-Q for the quarter ended September 30, 2017. In providing forward-looking statements, the Company expressly disclaims any obligation to update these statements publicly or otherwise, whether as a result of new information, future events or otherwise, except as required by law.

ARRIS, the ARRIS Logo, Ruckus Wireless, ICX and the Ruckus Logo are trademarks or registered trademarks of ARRIS International plc or its Affiliates. All other trademarks are the property of their respective owners.

© 2017 ARRIS Enterprises LLC. All rights reserved.

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Cboe Submits Product Certification for Bitcoin Futures

CHICAGO, Dec. 1, 2017 /PRNewswire/ -- Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE), one of the world's largest exchange holding companies, today announced that Cboe Futures Exchange (CFE) has filed a product certification with the Commodity Futures Trading Commission (CFTC) to offer bitcoin futures trading.  The product certification is subject to regulatory review.1

Cboe Global Markets, Inc. logo

The impending launch date of Cboe bitcoin futures, which will trade on CFE under the ticker symbol 'XBT,' will be announced shortly.  XBTSM futures were made available for participant testing on November 13, 2017.  Existing CFE Trading Privilege Holders (TPHs) can trade XBT futures via their existing connections. XBT futures market data will be made available over Cboe's market data feeds.

More information is available at www.cboe.com/xbt.

About Cboe Global Markets, Inc.

Cboe Global Markets, Inc. (Cboe: CBOE | Nasdaq: CBOE) is one of the world's largest exchange holding companies, offering cutting-edge trading and investment solutions to investors around the world. The company is committed to relentless innovation, connecting global markets with world-class technology, and providing seamless solutions that enhance the customer experience.

Cboe offers trading across a diverse range of products in multiple asset classes and geographies, including options, futures, U.S. and European equities, exchange-traded products (ETPs), global FX and multi-asset volatility products based on the Cboe Volatility Index (VIX Index), the world's barometer for equity market volatility.

Cboe's trading venues include the largest options exchange in the U.S. and the largest stock exchange by value traded in Europe.  In addition, the company is the second-largest stock exchange operator in the U.S. and a leading market globally for ETP trading.

The company is headquartered in Chicago with offices in Kansas City, New York, London, San Francisco, Singapore, Hong Kong and Quito, Ecuador.  For more information, visit www.cboe.com.


Media Contacts



Analyst Contact






Hannah Randall

Suzanne Cosgrove

Stacie Fleming


Debbie Koopman

+1-646-856-8809

+1-312-786-7123

+44-20-7012-8950


+1-312-786-7136

hrandall@cboe.com

cosgrove@cboe.com

sfleming@cboe.com


koopman@cboe.com













CBOE-EF

Cboe®, VIX® and Cboe Volatility Index® are registered trademarks and Cboe Global MarketsSM is a service mark of Cboe Exchange, Inc. All other trademarks and service marks are the property of their respective owners.

1 Regulatory review does not constitute or imply a CFTC endorsement of the use of digital currency generally, or bitcoin specifically.

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Solteq to Acquire TM United A/S Group, Expands to Denmark and Norway

HELSINKI, Dec. 1, 2017 /PRNewswire/ -- Solteq Plc has agreed to purchase the entire share capital of TM United A/S. The group, comprising TM United A/S and its subsidiaries, is known to the market as Theilgaard Mortenssen (TM). The acquisition allows Solteq to expand to the Danish market and open an office in Norway. The company also has offices in the United Kingdom, Sweden and Spain.  

TM's solutions are focused on digital transactions and the optimisation of the online customer experience. The group posted net sales of ?4,8 million for 2016 and currently has a staff of 35 experts. Solteq estimates that after the acquisition about one fifth of the company's annual net revenue comes outside Finland. 

The parties have signed the sale and purchase agrement (SPA) for all shares of the company on 1 December 2017. The net debt-free sale price (EV) is ?3.5 million; ca. ?1 million will be paid by a directed share issue to the seller.

The transaction is conditional to standard conditions precedents regarding the target, and ownership arrangements between the seller and current owners. The parties intend to complete the acquisition in January 2018.

Mutually complementary services and geographical compatibility 

TM's solutions are focused on digital transactions and the optimisation of the online customer experience. The company also has a 50 percent market share in the systems used by the Danish public sector's dental healthcare organisations.  

After the purchase, Solteq will be offering the Deep Vision cloud service for its customers ? the service is used to determine why online sale targets, i.e. conversions, are not being realised. Companies can use the service to better understand the behaviour of the visitors to their website.  

"This acquisition will distinguish us among Nordic digital players, complementing our electronic transaction solutions. Going forward, we will be the premier online service developer who can implement services with superior usability and fix existing defects," says Olli Väätäinen, CEO of Solteq Plc. 

The company's digital commerce solutions are based on the same technology and expertise that Solteq uses in its current customer solutions. The acquisition will hence increase Solteq's delivery capacity to its existing customers, as well as the Danish and Norwegian B2B and B2C customers introduced by the acquisition.  

"This acquisition is another step in Solteq's Nordic expansion strategy. We will now become a truly Nordic company," says Väätäinen.  

"We have worked with Solteq for a number of years and have formed a good corporate relationship. In particular, we find Solteq's values to closely match ours. We have sought growth in the Nordic countries and possibly Europe for a long time. We believe that this can be best achieved together with Solteq as a bigger company. This new arrangement will make it possible for us to better serve our customers' demand with a wider selection of services," says Kim Theilgaard, CEO of TM.  

Purchase price, payment and financing

Solteq will acquire the entire share capital of TM United A/S from Theilgaard Mortensen Holding ApS. The net debt-free sale price (EV) of the entire stock of TM United A/S is ?3.5 million; ?1 million will be paid by new Solteq shares offered to the seller in a directed share issue in accordance with the authorisation granted to the board by the general meeting on 17 March 2017. 

Payment of the cash consideration will be made with cash. In the directed share issue, share price will be the average closing price between 25 October and 24 November 2017 weighted by trading volume ? ?1.59 per share. A total of 628,930 new shares will be issued when the acquisition is completed. The issued shares represent 3.26 percent of the post-issue outstanding shares. The shares issued are subject to sell and transfer restrictions (lock-up) for period of 24 months from the closing date. In addition, seller shall pledge the shares as security for the obligations and liabilities of the seller under the SPA. 

The acquisition and the payment of the purchase price, including the directed share issue, are planned for January 2018. According to the agreement, TM will be consolidated into the Solteq group on 1 December 2017.  

Key figures for TM United A/S

According to Danish law, the TM United group is not obligated to prepare consolidated financial statements. As part of the corporate acquisition report, Solteq has prepared the following key figure summary based on the financial statements of the notable group companies engaged in TM United group business. The purpose of the summary is to provide sufficiently detailed and relevant financial information about the subject of the corporate acquisition.  

The following table includes information for the accounting periods of 2015 and 2016 (1 January to 31 December; one thousand euros):

Income statement

(thousand euros)







1.1.-31.12.2016


1.1.-31.12.2015





Revenue

4   817


4   224

Materials and   services

-1   075


-786

Employee benefit   expenses

-2   400


-2   313

Other expenses

-864


-841

Depreciations

-268


-230

EBIT

211


55

Financial income   and expenses

41


-53

Taxes

-27


-14

Profit

225


-11









Balance sheet

31.12.2016


 

31.12.2015





Assets




Non-current assets

158


283

Short-term   receivables

1   190


1   284

Cash

903


432





Total assets

2   250


1   999





Equity and   liabilities




Total equity

1   181


895

Long-term debt

97


239

Short-term debt

972


865





Total equity and   liabilities

2   250


1   999






New shares 
The directed share issue of new shares will make an exception to the shareholders' pre-emption right in order to execute the acquisition in question: the shares are directed at TM United A/S shareholders. Solteq's board of directors has been authorised for the share issue by the general meeting on 17 March 2017.

Subscriber of the new shares may exercise shareholder's rights in the company once the shares have been registered in the Finnish Trade Register. The shares will be included in the book-entry system maintained by Euroclear Finland Oy. Solteq will apply for public trading of the subscribed shares from the offering on Nasdaq Helsinki. 

Profit guidance 
Solteq Group's current interim period's adjusted operating profit is expected to be positive, but the adjusted operating profit for financial year 2017 is expected to decrease compared to the year 2016.  

Further information
Olli Väätäinen
CEO
Solteq Plc
tel. +358-50-557-8111
olli.vaatainen@solteq.com

Kim Theilgaard
Director
TM United A/S
tel. +45-26-169-616
kt@tmnet.dk 

Distribution 
NASDAQ Helsinki
Key media outlets
www.solteq.com

Solteq in Brief
Solteq is a Nordic IT provider and software house that specialises in digital customer engagement. Our mission is to simplify the digital world to make better tomorrow. We are a partner who knows how to turn the digital disruption for the benefit of our customer. Our over 500 experts, who work in three countries, develop and implement solutions for clients in Nordic countries as well as Europe, North America, Asia and Australia. In 2016, Solteq's net sales amounted to 63 million euro.

TM United A/S in Brief
TM (former Theilgaard Mortensen) was founded in 1999 based on values like quality and professionalism through which we have become one of the Nordics' leading experts in e-commerce and online customer experience based on IBM's platforms. By developing webshops that attract visitors and turn them into customers, we have helped a range of B2C and B2B companies in the Nordic market increasing revenues and building stronger brands. Our headquarters is in Copenhagen, and we have employees in Norway, Sweden, UK and Spain which makes us able to cover the most of Europe in order to work with our customers where they might operate.

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