Artificial Intelligence
TELUS Corporation announces agreement to acquire Lionbridge AI through TELUS International
Acquisition supports the evolution of TELUS’ digital transformation strategy
Lionbridge AI to enhance TELUS International’s ability to support leading global technology brands developing the next generation of artificial intelligence (AI) and data annotation
VANCOUVER, British Columbia, Nov. 06, 2020 (GLOBE NEWSWIRE) — Today, TELUS Corporation (T-TSX; NYSE-TU), announced that TELUS International, a digital customer experience (CX) innovator that designs, builds and delivers next-generation solutions for global and disruptive brands, has entered into an agreement to acquire Lionbridge AI, a market-leading global provider of crowd-based training data and annotation platform solutions used in the development of AI algorithms to power machine learning. The acquisition will be at a purchase price of approximately C$1.2 billion (approximately US$935 million) consisting of debt and equity, subject to customary closing adjustments. Closing is expected to occur on December 31, 2020.
“Today’s announcement advances TELUS’ commitment to harness the power of technology to provide outstanding customer experiences on a global basis, while accelerating the digital transformation and strategic growth journey of TELUS International. The acquisition will add key capabilities and diversity to TELUS International’s suite of next-generation digital solutions consistent with the ongoing execution of its growth agenda. We continue to move forward with our plans for the TELUS International IPO, which is targeted for the first quarter of 2021,” said Darren Entwistle, President and CEO of TELUS. “We look forward to welcoming Lionbridge AI’s skilled team members to the TELUS family as we continue to elevate our world-leading customer experience and innovative technologies for the valued brands we partner with around the world.”
“With the addition of Lionbridge AI, TELUS International will further progress its penetration of the fast-growing new economy services market that will enable our team to support important AI applications as demand for high-quality, multilingual data annotation continues to increase,” continued Entwistle. “As a unified team and company, we will be strongly positioned to meet the end-to-end needs of today’s technology hyperscalers and industry disruptors in machine learning and AI systems to develop smarter products and services, and deliver exceptional customer experiences.”
As a division of Lionbridge Technologies, Inc. – a privately-held company with more than 20 years of industry experience – Lionbridge AI is one of only two globally-scaled, managed training data and data annotation services providers in the world. Data annotation is the essential process of labeling data to make it usable for AI systems, and Lionbridge AI annotates data in text, images, videos, and audio in more than 300 languages and dialects for some of the world’s largest technology companies in social media, search, retail and mobile. Headquartered in Waltham, Massachusetts, Lionbridge AI has more than 750 employees working from countries around the world, including in the US, Ireland, Finland, India, UK, Japan, Denmark, Costa Rica and South Korea. Lionbridge AI has also developed a proprietary data annotation platform that is used in combination with a crowdsourced community of more than one million professional annotators, qualified linguists and in-country language speakers across six continents. There are between 30,000-50,000 members of this advanced community of global crowd contributors deployed at any one point in time.
Lionbridge AI has demonstrated strong financial growth, reporting 2019 revenue of approximately C$260 million, which is up 29 per cent year over year, and an EBITDA margin consistent with TELUS International’s within the range of 20 to 25 per cent. Lionbridge AI’s financial performance is underpinned by an attractive business model, long-term client relationships averaging 15 years among its top five clients, and a growing market demand for data annotation services to support the overall increased investment in AI and machine learning. Lionbridge AI has been resilient in the face of COVID-19, and for the nine-month period ending September 30, 2020, the company generated approximately C$230 million in revenue, up from approximately C$190 million in the same period a year ago. Capital intensity for Lionbridge AI is in the low single digits, driving a high simple free cash flow conversion.
“We are thrilled to be joining the TELUS International team as we share a like-minded commitment to innovating for our clients and a focus on our people whom we consider to be unique experts in our industry and a sustainable source of competitive advantage,” said Ed Jay, President of Lionbridge AI. “We are looking forward to working together with TELUS International to continue delivering the most valuable AI training data and platform for our clients, and to build upon the scale and momentum we have achieved through our crowd of contributors spanning diverse languages, cultures and geographies.”
The acquisition of Lionbridge AI will be financed from TELUS International’s non-recourse credit facilities and funds from an additional equity capital contribution from TELUS Corporation and funds affiliated with Baring Private Equity Asia. The acquisition is subject to customary closing conditions and regulatory approvals.
About TELUS
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications and information technology company with $15 billion in annual revenue and 15.4 million customer connections spanning wireless, data, IP, voice, television, entertainment, video and security. At TELUS, we leverage our world-leading technology’s potential to enable remarkable human outcomes. Our long-standing commitment to putting customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. TELUS Health is Canada’s largest healthcare IT provider, and TELUS International delivers the most innovative business process solutions to some of the world’s most established brands.
Driven by our passionate social purpose to connect all Canadians for good, our deeply meaningful and enduring philosophy to give where we live has inspired our team members and retirees to contribute more than $736 million and 1.4 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world.
For more information about TELUS, please visit telus.com, follow us @TELUSNews on Twitter and @Darren_Entwistle on Instagram.
Forward-looking statements:
This news release contains statements about expected future events, including statements relating to the planned acquisition of Lionbridge AI by TELUS International, the expected timing of the transaction, the expected benefits of the transaction and plans for its integration. By their nature, forward-looking statements require TELUS to make assumptions and predictions and are subject to inherent risks and uncertainties. There can be no assurance that the acquisition will be completed as expected or upon the terms and conditions described in this news release, that required regulatory approvals will be obtained, or that the expected financial results or the expected benefits of the transaction will be realized. There is significant risk that the forward-looking statements will not prove to be accurate. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future events to differ materially from those expressed in the forward-looking statements. Accordingly, this news release is subject to the disclaimer and qualified by the assumptions, qualifications and risk factors referred to in TELUS’ 2020 third quarter management’s discussion and analysis and 2019 annual report, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR at sedar.com) and in the United States (on EDGAR at sec.gov). Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.
Media Contacts:
TELUS Media Relations
Jacinthe Beaulieu
(418) 318-6102
[email protected]
TELUS Investor Relations
Ian McMillan
(604) 695-4539
[email protected]
Photos accompanying this announcement are available at :
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Artificial Intelligence
Businessabc.net, part of Ztudium group partners with IEBF to offer GenerativeAI tools for SMEs, Adds Dilip Pungliya to Leadership
LONDON and NEW DELHI, April 24, 2024 /PRNewswire/ — Businessabc.net part of ztudium group partners with Indo-European Business Forum IEBF and signed an MOU to collaborate in building tech AI-powered tools and trade corridors and technological solutions for businesses in India, UK, and Europe.
Businessabc.net is a global business abc AI, digital certification search engine, and directory marketplace that offers a fresh approach to business insights, and analytics and makes it accessible to every company, and employee, empowering knowledge-sharing and strategic insights across every level for businesses worldwide. Businessabc offers a digital hub marketplace to empower SMEs and businesses of all types with B2B, B2C, and AI-powered tools, that give them access to strategies, and insights and connect them with chambers of commerce, trade corridors, digital supply chains, provenance tools, and multi-store e-commerce solutions. The Indo-European Business Forum – IEBF is an independent, impartial organisation promoting two-way flows of trade, and investment in India, the UK, and EU member countries.
Businessabc.net owned by ztudium announces this strategic partnership with the IEBF and announces Dilip Pungliya as a new partner and Board Member to lead these endeavours. In this role, Mr. Pungliya, a tech, business, and data scientist executive will bring his extensive expertise in business strategy and digital transformation to lead key initiatives within the organisation.
The growth of Generative AI among Small and Medium Enterprises (SMEs) worldwide has been steadily gaining momentum, and in India, the UK, and Europe a burgeoning tech ecosystem is growing awareness of the transformative potential of artificial intelligence.
IEBF and Businessabc.net join forces to expand the platform with new indexes powered by Generative AI to enhance efficiency, streamline operations, and give companies a competitive edge in the market. Factors such as the availability of cost-effective AI solutions, the skilled workforce, and a global need to push towards digitalisation have contributed to the adoption of Generative AI technologies. GenAI tools and tech solutions are critical to unlocking new value for businesses and becoming the most important tools for organisations of all sizes. AI revolution through platforms such as businessabc.net semantic and GenAI search, indexes, and chatbots, can solve business problems and offer leaders integrated solutions for their growth.
IEBF has been collaborating with Governments in India, UK, and Europe,. Their contribution includes events in the UK House of Lords, Indian governmental organisations, and research and education initiatives for businesses. Created by Mr. Vijay Goel and Mr. Sunil Kumar Gupta the founders, responsibles for the organisation said about this: “We are excited to work and enhance business solutions between IEBF and Businessabc.net, part of Ztudium group. All businesses need to be aware, educated, and prepared for this new AI and digital growth tools world. Data from India’s Ministry of Electronics and Information Technology (MeitY) reports that GenAI is expected to add USD 450–500 billion to India’s GDP by 2025 – 10% of the country’s USD 5 trillion GDP target. We expect to work together to empower businesses in India, the UK, and Europe joining forces with Businessabc.net to organise strategic trade corridors, events, and Indexes.”
Dinis Guarda, Founder of Ztudium / Businessabc.net, a business top thought leader, author, and Youtuber said about the partnership: “We are thrilled to work with IEBF to expand the businessabc.net solutions to India, UK, and Europe businesses and welcome Dilip Punglyia to support, lead this partnership and Ztudium group. Together we will offer cutting-edge simple tools that use genAI in business and finance. In the financial sector alone GenAI is expected to increase global gross domestic product (GDP) by 7%—nearly $7 trillion—and boost productivity growth by 1.5%, according to Goldman Sachs Research.”
Dilip Pungliya, a seasoned tech, digital, and business strategy leader with more than twenty five years of experience creating data-driven solutions will be at the forefront of this partnership. Mr. Dilip Pungliya said about this: “I’m thrilled to join businessabc.net and Ztudium leadership team and contribute to the growth of the partnership with the IEBF and its holistic company’s mission of driving innovation and digital transformation through cutting-edge technologies like AI, fintech, Web 3.0, Metaverse, and Blockchain. This partnership will allow us to create a digital ID, new AI data-driven generative tools, and scale growth for businesses in India, UK, and Europe, and Dilip’s wealth of experience and strategic vision will be invaluable as we continue to drive innovation and empower businesses with transformative technologies.”
About the Indo-European Business Forum
IEBF is an independent, impartial body actively promoting two-way flows of trade, and investment in India and EU member countries. Indo European Business Forum is an open forum comprising like-minded people who believe that “India can offer strong and sustained business opportunities for European Union countries”. IEBF is patronised by leading personalities from both India and the EU having excellence in the fields of business, finance, real estate, and art, to name a few. Our advisory board consists of people who are determined to create a progressive world.
About the Businessabc.net,
Founded in August 2011 by Dinis Guarda, who was joined by Sonesh Sira as board and partner some years after businessabc.net part of Ztudium group has been creating Digital Transformation, and AI tools and being recognised as one of the top global thought leaders organisations by organisations like Thinkers360.com. The company has been working and advising Fortune 500 companies and governments and offers technology products and platforms. Some of its offers are citiesabc.com, fashionsabc.com, sportsabc.org. It also manages a media division with intelligenthq.com, tradersdna.com, hedgethink.com, and services that integrate a wide range of 4IR, AI, 3D, web 3.0, and blockchain technologies solutions such as Metaverseabc. tech, MStores.shopping, iDNA.technology, and AI.DNA. The platform unveiled recently its Top 10,000 Public Companies Market Cap Index, which lists tech giants like Apple, Microsoft, Google, Alphabet, Nvidia, and Meta, and LVMH, IBM, and JPMorgan Chase & Co., from other industries at the top.
About Ztudium: The maker of 4IR, AI, Web 3.0, and Smart Cities technologies
Ztudium is a UK-based global maker of leading proprietary intellectual property and technologies that integrate Fourth Industrial Revolution (4IR) technologies. The company creates technology products, platforms, media, and services that integrate fintech, smart cities, Web 3.0, AI, Metaverse, and Blockchain. Ztudium collaborates with multiple governments, organisations, educational institutions, and business networks worldwide.
For media inquiries, please contact:
Media Contact Name: Manan KothariEmail Address: [email protected] Number: +44 7833881659
Company Name: Businessabc / ZtudiumCompany Address: 85, Great portland street, London W1W7LTWebsite URL: www.businessabc.net, www.ztudium.com
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Artificial Intelligence
South Korea Data Center Market to Witness Investment of $7.22 Billion by 2029 – Get Insights on 35 Existing Data Centers and 19 Upcoming Facilities across South Korea
CHICAGO, April 24, 2024 /PRNewswire/ — According to Arizton’s latest research report, the South Korea data center market is growing at a CAGR of 8.43% during 2023-2029.
To Know More, Download the Free Sample Report: https://www.arizton.com/market-reports/south-korea-data-center-market-investment-analysis
South Korea Data Center Market Report Scope
Report Attributes
Details
Market Size (Investment)
USD 7.22 Billion (2029)
Market Size (Area)
688 thousand sq. Feet (2029)
Market Size (Power Capacity)
143 MW (2029)
CAGR Investment (2023-2029)
8.43 %
Colocation Market Size (Revenue)
USD 1.42 Billion (2029)
Historic Year
2020-2022
Base Year
2023
Forecast Year
2024-2029
South Korea is becoming a resilient data center market, propelled by a strategy prioritizing cloud service, a conducive business climate, and a well-established regulatory framework. Moreover, South Korea is a prominent Southeast Asian market, with investment opportunities driven by Artificial Intelligence and Renewable Energy initiatives. Major investments from local and international data center providers position the country as a pivotal player in the Asia-Pacific (APAC) digital infrastructure landscape.
Recently, South Korea has seen the development of smart cities such as Seoul, Incheon, Busan, and Daejeon. These cities implemented various smart solutions, including the Integrated Public Transportation Fare System, Demand-Responsive Transportation (DRT), Smart Grid, Smart Waste Management System, and numerous others.
Investment Opportunities in South Korea
In October 2023, LGU+ announced the completion of their second facility, Pyeoungchon 2 Center, in South Korea.In September 2023, Kakao announced the completion of their data center facility in Ansan, Gyeonggi, South Korea.In September 2023, SK Ecoplant announced plans to develop a data center campus facility in Pohang, South Korea.In August 2023, the South Korean government announced plans to develop a 1GW data center campus in the Southwest of South Korea.In June 2023, Empyrion DC commenced constructing its first data center facility in the Gangnam area of Seoul, South Korea.Market Trends
The South Korean government has committed to overturning the earlier policy by the administration of phasing out nuclear energy—the previous approach aimed to reduce the number of operational nuclear plants to 17 by 2034.South Korea plans to reduce its dependence on coal-fired power generation to 19.7% by 2030 and further down to 14.4% by 2036. Additionally, the country aims to decrease its reliance on gas-fired generation to 22.9% by 2030 and 9.3% by 2036.KOEN, formerly Korea South-East Power (KOSEP), generates renewable power from photovoltaic – 36 MW, hydro – 18.6 MW, fuel cells – 51.9 MW, wind – 58.4 MW, and biomass – 325 MW.Korea Western Power owns and operates around 17 solar power plants with a total capacity of around 43 MW. The Taean Small Hydro Power plant generates 2.2 MW, and the Hwasun Wind Power plant produces around 16 MW. In addition, the company generates around 39 MW of power capacity through fuel cells, generating around 35 MW of power through biomass.Significant Growth in Cloud, Mission Critical, and High-Performance Infrastructure to Increase OCP and Arm-based Server Adoption Booming the Market Growth
The expansion of hyperscale data centers will likely increase the demand for arm-based servers and promote the procurement of high-performance infrastructure solutions and OCP infrastructure solutions. South Korea-based cloud service provider Douzone Bizon adopted Intel Xeon Scalable Processor solutions to decrease the total cost of ownership for managing blade servers.
Why Should You Buy This Research?
Market size is available regarding investment, area, power capacity, and South Korea colocation market revenue.An assessment of the data center investment in South Korea by colocation, hyperscale, and enterprise operators.Investments in the area (square feet) and power capacity (MW) across cities in the country.A detailed study of the existing South Korea data center market landscape, an in-depth market analysis, and insightful predictions about market size during the forecast period.Snapshot of existing and upcoming third-party data center facilities in South KoreaFacilities Covered (Existing): 35Facilities Identified (Upcoming): 19Coverage: 12+ CitiesExisting vs. Upcoming (Area)Existing vs. Upcoming (IT Load Capacity)Data Center Colocation Market in South KoreaColocation Market Revenue & Forecast (2023-2029)Wholesale vs. Retail Colocation Revenue (2023-2029)Retail Colocation PricingWholesale Colocation PricingThe South Korea data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the industry.A transparent research methodology and the analysis of the demand and supply aspects of the industry.Buy this Research @ https://www.arizton.com/market-reports/south-korea-data-center-market-investment-analysis
Post-Purchase Benefit
1hr of free analyst discussion10% off on customization The Report Includes the Investment in the Following Areas:
IT InfrastructureServersStorage SystemsNetwork InfrastructureElectrical InfrastructureUPS SystemsGeneratorsTransfer Switches & SwitchgearsPDUsOther Electrical InfrastructureMechanical InfrastructureCooling SystemsRack CabinetsOther Mechanical InfrastructureCooling SystemsCRAC & CRAH UnitsChiller UnitsCooling Towers, Condensers & Dry CoolersEconomizers & Evaporative CoolersOther Cooling UnitsGeneral ConstructionCore & Shell DevelopmentInstallation & Commissioning ServicesEngineering & Building DesignFire Detection & Suppression SystemsPhysical SecurityData Center Infrastructure Management (DCIM)Tier StandardTier I & Tier IITier IIITier IVGeographySeoulOther CitiesVendor Landscape
IT Infrastructure Providers
Arista NetworksAtosCisco SystemsDell TechnologiesFujitsuHewlett Packard EnterpriseIBMInspurIntelLenovoNetAppData Center Construction Contractors & Sub-Contractors
BEHIVE ArchitectsDPR ConstructionGS E&CHanmiGlobalHyundai Engineering & ConstructionISGPOSCO ICTSAMOO Architects & EngineersSamsung C&TSupport Infrastructure Providers
ABBCaterpillarCumminsDelta ElectronicsEatonFuji ElectricLegrandMitsubishi ElectricPiller Power SystemsRittalRolls-RoyceSchneider ElectricSTULZVertivData Center Investors
ActisDigital RealtyDreammark1Digital EdgeEquinixHostway IDCKakao CorpKT CorpLG UplusLG CNSNaverNHN CorpSOLISIDCSK BroadbandNew Entrants
Empyrion DCESROneAsia NetworkPrinceton Digital GroupPure Data Centres GroupSC Zeus Data CentersST Telemedia Global Data CentresSTACK InfrastructureKey Questions Answered in the Report: How big is the South Korea data center market?How many existing and upcoming data center facilities exist in South Korea?How much MW of power capacity will be added across South Korea during 2024-2029?What factors are driving the South Korea data center market?What is the growth rate of the South Korea data center market?Who are the key investors in the South Korea data center market?
Get the Detailed TOC @ https://www.arizton.com/market-reports/south-korea-data-center-market-investment-analysis
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Artificial Intelligence
Lucinity Appoints Udi Nessimyan as President and Chief Revenue Officer
REYKJAVIK, Iceland, April 24, 2024 /PRNewswire/ — Lucinity , a leader in generative AI for financial institutions, is thrilled to announce the appointment of Udi Nessimyan as its new President and Chief Revenue Officer. Udi brings to the role a wealth of experience from his time in AI development at some of the world’s most prestigious tech companies, including Sealed.ai, Oracle, and Amazon Web Services.
Gudmundur Kristjansson, Founder and CEO of Lucinity, expressed his enthusiasm about Udi’s appointment, stating, “Udi’s proven track record of driving growth and innovation aligns perfectly with our core mission at Lucinity. His strategic acumen and deep industry knowledge are invaluable as we continue to develop and deliver AI solutions that enhance the efficiency and effectiveness of our clients’ operations.”
Udi’s career highlights include co-founding and leading Sealed.ai as CEO, where he spearheaded the development of a cutting-edge conversational AI platform that redefined standards in business communication. At Basis Technology, he was instrumental in driving sales and operational strategies for their flagship products, including Rosette and various Cyber Forensics tools, achieving an annual recurring revenue growth rate exceeding 30%.
In his new role, Udi will focus on refining Lucinity’s approach to marketing, sales, and customer onboarding. His expertise will be crucial in ensuring that Lucinity’s innovative AI solutions are effectively communicated and reach the right audiences, thereby maximizing their impact and facilitating the adoption of the technology.
“Udi’s involvement is vital as we strive to make our AI tools more intuitive and impactful,” said Kristjansson. “His insights and leadership will enhance our ability to deliver these technologies efficiently and effectively, aligning them closely with customer needs and industry demands.”
Under Udi’s leadership, Lucinity is set to deepen its commitment to unleashing human efficiency with AI, expanding the reach and impact of its mission to create AI that makes people better at what they do.
Lucinity thanks its partners and stakeholders for their continued support and interest as it embarks on this exciting new chapter.
About Lucinity:
Lucinity is a leader in generative AI technologies for financial institutions, designed to accelerate workforce efficiency. Its platform features Luci, an AI copilot that enhances intelligence gathering, analysis, and decision-making, allowing institutions to streamline operations and reduce costs. As an open, configurable, no-code platform, Lucinity is a crucial tool for enhancing productivity and operational efficiency in the financial sector.
Media Contact
Celina PabloSenior Marketing [email protected] +354 792 4321
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