Artificial Intelligence
Lacroix Group : A successful capital increase with pre-emptive subscription right maintained,raising €44.3 million. LACROIX on the way to achieve its 2025 ambitions.
26/07/2021
A successful capital increase
with pre–emptive subscription right maintained,
raising €44.3 million
LACROIX on the way
to achieve its 2025 ambitions
Successful capital increase with pre–emptive subscription right maintained:
- €44.3 million gross raised, at a subscription price of €41.65 per share
- 1,062,536 new shares subscribed, of which 93% on an irreducible basis
- Free float extended to 27% of capital
- Historical family shareholder participation amounting to €15 million
“We are particularly satisfied with the success of this capital increase, which convinced a very large majority of our shareholders, while also attracting major new investors. With a total of more than €44 million raised, the successful completion of this operation provides clear evidence of the support for our new Leadership 2025 Plan, designed to enable the Group to almost double in size and reach €800 million in turnover and 9% in current EBITDA margin by 2025. In a real strategic turning point for LACROIX, the funds raised will enable us to accelerate the deployment of each of the plan’s focus areas, in particular acquisitions and the strengthening of the Group’s technological leadership. Now set to make our aspirations for 2025 a reality, on behalf of the Group, I want to thank all our shareholders, both old and new, for the trust they showed through their participation in this operation,” says Vincent Bedouin, Chairman and CEO of LACROIX.
Result of the capital increase with pre–emptive subscription right maintained
At the end of the subscription period, which closed on 21 July 2021, demand on an irreducible basis amounted to 991,858 shares, or 93% of new shares to be issued, while demand on a reducible basis, which was fully allocated, amounted to 70,678 shares, or 7% of new shares to be issued.
As a result, the gross amount of the capital increase with pre-emptive subscription right maintained (the “Offer”), as recorded by the Board of Directors on 26 July 2021, reached €44.3 million, including a nominal value of €7.1 million and an issue premium of €37.2 million, resulting in the issue of 1,062,536 new shares (the “New Shares”) at a unit subscription price of €41.65, including a nominal value of €6.64 and an issue premium of €35.01. Based on the volume-weighted average of closing prices of the Company’s share over the three trading days preceding the date of approval by the AMF of the Prospectus, i.e. 49.00 euros, the subscription price of the Offering Shares reflects a discount of 15.0%.
The Offering Shares will be issued under the 24th resolution adopted by the combined general meeting of shareholders of the Company held on 11 May 2021.
For this Offer, Portzamparc (BNP Paribas Group) acted as Global Coordinator, Lead Manager and Joint Bookrunner, and Gilbert Dupont as Joint Bookrunner.
Nicolas Bedouin, Deputy CEO & Executive Vice-President Finance, stated: “We can be satisfied with the success of this capital increase with pre-emptive subscription right maintained, in multiple respects. First of all, evidence of strong support for the project, the operation attracted the broad participation of our shareholders, and notably Amiral Gestion, CDC Croissance, Financière Arbevel and Value8. It is also an opportunity for LACROIX to welcome into its capital new leading institutional investors such as BNP Paribas Développement, DNCA Investments, Finexis S.A, Indépendance et Expansion AM, or Vatel Capital, and significantly expand its free float to 27%, for a market capitalisation of over €200 million.”
Objectives of the Offer
The net proceeds from the Offer will contribute broadly to financing the Company’s development as well as the ‘Leadership 2025’ Strategic Plan”. As a reminder, over the duration of the plan, the breakdown of needs by axis of development is as follows:
a) Approximately 37% for the extension of international reach and M&A, with the aim of conducting more than 70% of the total business outside of France within 5 years’ time. In particular, LACROIX intends to make targeted acquisitions that enable it to strengthen existing international operations or possibly even take up positions in complementary market segments or broaden the ‘smart’ offer through the integration of new building blocks with high technological added value.
b) Approximately 35% towards strengthening the Group’s technological leadership, with the development of technological platforms around cutting-edge areas of expertise such as cybersecurity or edge computing. Towards this end, the objective is to double R&D expenditure to more than 5% of total turnover. By dedicating more resources towards innovation, the Group expects to increase the proportion of new products (less than 5 years old) to 50% of turnover from LACROIX-designed products.
c) Around 27% towards the development of leadership in industrial efficiency, drawing in particular on the opportunities offered by “Industry 4.0” with an increased role for artificial intelligence and robotisation, the digitisation of flows, and the implementation of “Lean” production methods. Mirroring “Symbiose”, the new French electronic plant of the future, which will be open at the end of 2021, these principles will apply to 100% of the Group’s industrial sites by 2025.
d) Lastly, to a lesser extent, approximately 1% will go towards initiating the transition from the equipment manufacturer role to that of a supplier of high value-added “end-to-end” solutions for the “Smart World”, with new services that will eventually generate recurring revenue and leverage margins.
The first axis of development a) described above will require, more particularly, the use of the net proceeds from the Offer given that the other needs could be primarily self-financed.
Terms of the Offer
Subscription commitments
Prior to the Offer, the total amount of subscription commitments made by the Group consisting of members of the Bedouin family (the “Bedouin family”) on the one hand and ten institutional investors, some of whom were shareholders of the Company, on the other hand, was €34 million.
The Bedouin family, which had undertaken, under usual conditions, to subscribe to the Offer by exercising part of its pre-emptive subscription rights in the amount of €15 million through Vinila Investissements, subscribed 360,143 New Shares for an amount of €15 million.
Furthermore, the ten investors who had irrevocably committed to subscribe to the Offer for a total amount of €19 million, of which €17.1 million on an irreducible basis and €1.9 million on a reducible basis, were fully served. These investors are made up of existing shareholders (Amiral Gestion, CDC Croissance, Financière Arbevel, MCA Finances, Value8) and new shareholders (BNP Paribas Développement, DNCA Investments, Finexis S.A, Indépendance et Expansion AM, Vatel Capital).
Commitment to retain shares
The Bedouin Family has undertaken to retain its Lacroix shares until the expiry of a period of twelve months from the settlement-delivery date of the Offering Shares, it being specified that the New Shares subscribed for by Vinila Investissements in connection with the Offer will be subject to the same commitment to retain shares.
Commitment to abstain
In the context of the investment agreement concluded with Portzamparc (BNP Paribas Group), acting as Global Coordinator and Joint Bookrunner of the Offer, and Gilbert Dupont, acting as Joint Bookrunner of the Offer, the Company undertook to abstain for a period of 180 days from the date of settlement and delivery of the Offering Shares.
Impact of the New Shares issue on the distribution of capital and voting rights
Following the New Shares issue, the share capital of LACROIX will be made up of 4,829,096 shares with a nominal value of €6.64 each. It will be broken down as follows:
| On a non-diluted basis | ||||||
| Before the Offer | After the Offer | |||||
| Shareholders | Number of shares | % of capital | % of exercisable voting rights | Number of shares | % of capital | % of exercisable voting rights |
| Bedouin Family | 2,651,445 | 70.39 | 84.51 | 3,011,588 | 62.36 | 77.18 |
| Of which Vinila Investissements | 2,169,069 | 57.59 | 69.12 | 2,529,212 | 52.37 | 64.02 |
| Fidelity Puritan Trust | 376,486** | 10.00 | 6.01 | 376,486** | 7.80 | 5.14 |
| Floating | 591,714 | 15.71 | 9.48 | 1,294,107 | 26.80 | 17.69 |
| Treasury shares* | 146,915 | 3.90 | – | 146,915 | 3.04 | – |
| TOTAL | 3,766,560 | 100.00 | 100.00 | 4,829,096 | 100.00 | 100.00 |
* It being specified that the number of treasury shares is subject to variation depending on the vesting of 15,002 existing free shares, thereby reducing the number of treasury shares.
** As at the date of approval of the Prospectus by the AMF, i.e. 2 July 2021, Fidelity Puritan Trust held 376,656 shares. As per its notification of threshold crossing on 15 July 2021, it held 376,486 shares, i.e. 9.995% of capital, before completion of the capital increase with pre-emptive subscription right maintained.
Impact of the New Shares issue on the financial situation of the shareholder
The impact of the issue of the New Shares on the participation of a shareholder with 1% of the Company’s capital prior to the issue of the New Shares and who did not subscribe to the issue of the New Shares (calculations made on the basis of the number of shares comprising the Company’s share capital on the date of the Prospectus, after deduction of Treasury shares), is as follows:
| Shareholder’s interest (in %) | |
| Non-diluted basis | |
| Before the Offer | 1.00 |
| After the Offer | 0.78 |
Settlement-delivery
Settlement-delivery and admission of New Shares for trading on Euronext Paris regulated market will take place on 28 July 2021.
Partners of the offer
| PORTZAMPARC | GILBERT DUPONT |
| Global Coordinator, Lead Manager and Joint Bookrunner |
Joint Bookrunner |
JEANTET
Operation legal counsel
Public information
The Prospectus, drawn up in the form of a Union Recovery prospectus in accordance with Article 14a and Annex Va of the Prospectus Regulation as amended by Regulation (EU) 2021/337 of 16 February 2021, was granted approval number 21-271 by the AMF on 2 July 2021 and is available on the AMF website (www.amf-france.org) and on the Company’s website (https://www.lacroix-group.com/). The risk factors relating to the Group, its sector of activity, the markets and the securities issued are described in section IV of the Prospectus. This list of risks is not exhaustive. Other risks not yet identified or considered immaterial by the Company at the date of approval of the Prospectus may exist. Potential investors are advised to read the Prospectus before making an investment decision in order to fully understand the potential risks and benefits associated with the decision to invest in the securities. The approval of the Prospectus by the AMF should not be construed as a favourable opinion on the securities offered or admitted when trading on a regulated market.
Upcoming dates
First Half of 2021 Revenue: 26 August 2021 after market close
View our financial data on our Investors’ Zone
https://www.lacroix-group.com/investors/
About LACROIX
Firm believers that technology should contribute to making our living environments simpler, more sustainable and safer, LACROIX supports its customers in the construction and management of intelligent living ecosystems, thanks to connected equipment and technologies.
As a publicly-listed family-owned mid-cap, LACROIX combines the essential agility required to innovate in an ever-changing technological sector with the ability to industrialise robust and secure equipment, cutting-edge know-how in industrial IoT solutions and electronic equipment for critical applications and the long-term vision to invest and build for the future.
LACROIX designs and manufactures electronic equipment for its customers’ products, as well as IoT (hardware, software & cloud) and AI solutions, particularly in the industrial, automotive, home automation, avionics and health sectors. LACROIX also provides safe, connected equipment for the management of critical infrastructures such as smart roads (street lighting, traffic signs, traffic management, V2X) and the management and operation of water and energy systems.
Drawing on its extensive experience and expertise, the Group works with its customers and partners to build the connection between the world of today and the world of tomorrow. It helps them to create the industry of the future and to make the most of the opportunities for innovation that surround them, supplying them with the equipment for a smarter world.
Contacts
LACROIX
COO & Executive Vice-President Finance
Nicolas Bedouin
[email protected]
Tel.: +33 (0)2 72 25 68 80
ACTIFIN
Press Relations
Jennifer Jullia
[email protected]
Tel.: +33 (0)1 56 88 11 19
ACTIFIN
Financial Communication
Simon Derbanne
[email protected]
Tel.: +33 (0)1 56 88 11 14
Disclaimer
This press release does not constitute, and shall not be deemed to constitute, an offer to the public, an offer to purchase or subscribe for shares or an offer to solicit the public for the purpose of a public offering. This press release does not constitute an assessment of the merits of an investment in the Company. No guarantee is given as to the completeness, reality and accuracy of the information provided. The information and opinions contained in this press release as well as all the elements presented at today’s information meeting are provided on the date of this press release and are subject to change at any time. Some of the information contained in the press release is purely forward-looking and prospective. This information is given as of the date of the press release and no guarantee is provided as to the reliability of this information, which the Company will not be under obligation to update.
No communication or information relating to the proposed capital increase may be given to the public in a country in which a registration or authorisation obligation must be satisfied. No steps have been taken (or will be taken) in any country (other than France) in which such steps would be required. The subscription or purchase of Company securities may be subject to specific legal or regulatory restrictions in certain countries. The Company assumes no liability for any breach by any person of such restrictions.
The press release does not constitute a prospectus within the meaning of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (the “Prospectus Regulation”). The offer will be open to the public in France only after the French Financial Markets Authority (AMF) has issued an approval on the prospectus prepared in accordance with the Prospectus Regulation.
In France, the public offering of securities requires a prospectus approved by the AMF. With regard to the Member States of the European Economic Area other than France (the “Member States”), no action has been taken or will be taken to allow a public offering of securities making it necessary to publish a prospectus in one of these Member States. Consequently, the securities may not and will not be offered in any of the Member States (other than France), except in accordance with the exemptions provided for in Article 1(4) of the Prospectus Regulation, or in other cases not requiring the publication by the Company of a prospectus under the Prospectus Regulation and/or the regulations applicable in these Member States.
The release has not been approved by an authorised person (“authorised person”) within the meaning of Section 21(1) of the Financial Services and Markets Act 2000. Consequently, the press release is intended solely for (i) persons located outside the United Kingdom, (ii) investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, (iii) persons referred to in Article 49(2) (a) a (d) (high net worth companies, unregistered associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 or (iv) any other person to whom the press release may be sent in accordance with the law (the persons referred to in paragraphs (i), (ii), (iii) and (iv) together being referred to as the “Authorised Persons”). Any person other than an Authorised Person must refrain from using or relying on the press release and the information it contains. The press release is not a prospectus approved by the Financial Services Authority or any other UK regulator within the meaning of Section 85 of the Financial Services and Markets Act 2000.
The press release does not constitute an offer of securities or any solicitation to purchase or subscribe for securities or any solicitation to sell securities in the United States. The shares of the Company described in this press release have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) and may not be offered or sold in the United States without registration or exemption from the registration obligation under the U.S. Securities Act. The Company does not intend to make any public offering of its shares in the United States.
This press release must not be published, distributed or circulated, directly or indirectly, in the United States, Australia, Canada or Japan. The distribution of this release to other countries may be subject to legislative or regulatory restrictions, and individuals in possession of this release should become familiar with and observe these restrictions. Failure to comply with such restrictions may constitute a violation of applicable securities laws.
Attachment
Artificial Intelligence
Iridium to Collaborate with Nordic Semiconductor on Iridium NTN Direct integration
MCLEAN, Va., Oct. 9, 2024 /PRNewswire/ — Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced its collaboration with Nordic Semiconductor for early integration of its Iridium NTN Direct℠ service into Nordic’s LTE-M/NB-IoT modules and chipsets. Nordic Semiconductor is a global leader in low power wireless connectivity solutions including cellular IoT (LTE-M, NB-IoT), Wi-Fi, Bluetooth LE, and Thread and is trusted by world leading brands across the consumer, industrial, and healthcare segments. Nordic’s complete cellular IoT solutions are ideally suited for connected devices for global tracking, utility metering and industrial remote monitoring and control.
Iridium NTN Direct is planned to be the world’s first truly global NB-IoT service. The product of Iridium’s Project Stardust initiative, Iridium is developing this capability in coordination with the 3rd Generation Partnership Project’s (3GPP) recent decision to accept Iridium enabling enhancements in its next release. This would allow Iridium’s satellite service to be accessible by any device with a 3GPP release 19 compliant chipset. Nordic plans to incorporate the Iridium NTN Direct service’s truly global communication capability as part of its 3GPP release 19 NTN roadmap, taking advantage of the established reliability and experience of the Iridium® network.
“Nordic Semiconductor is an industry leader that continues to be at the forefront of innovation with its low power LTE-M and NB-IoT modules and chipsets,” said Bryan Hartin, executive vice president, Iridium. “The integration of Iridium NTN Direct into its modules and chipsets marks a new chapter in Nordic’s storied history and will create a universe of consumer and industrial devices with the capability to stay connected from anywhere on earth. We look forward to working with Nordic Semiconductor and them bringing both their chipset- and device-side experience to the Iridium ecosystem.”
“Iridium is a global leader in satellite communications,” said Oyvind Birkenes, executive vice present for the Long Range BU at Nordic Semiconductor. “It is exciting that Iridium is taking the step to enable low-cost, 3GPP-standard NB-IoT modules and chipsets like Nordic’s nRF9151 to connect to its network of satellites. This helps bring the vision of universal connectivity for global and massive IoT to life.”
The Iridium network is ideal for D2D and NB-IoT services with its truly global coverage, weather-resilient, globally coordinated spectrum, and history of providing safety of life services with the highest reliability. 3GPP Release 19 is expected to be formally completed by the end of 2025. Iridium will share more information about Iridium NTN Direct at Mobile World Congress Las Vegas’s NTN Summit on Wednesday October 9, 2024.
For more information about Iridium NTN Direct visit: www.iridium.com/ntn-direct
About Iridium Communications Inc.
Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations, and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2024, Iridium acquired Satelles and announced the Iridium Satellite Time and Location service. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services, and partner solutions, visit www.iridium.com.
Forward-Looking Statements Disclosure
Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding 3GPP Release 19, the capabilities, benefits and timing of the proposed Iridium NTN Direct service, and the planned integration of Iridium NTN Direct technology by Nordic Semiconductor. Forward-looking statements can be identified by the words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, whether the final 3GPP Release 19 includes NB-IoT NTN specifications compatible with the Iridium network, the timing of 3GPP Release 19, the successful technical development of Iridium NTN Direct, the successful integration of Iridium NTN Direct by Nordic Semiconductor, and uncertainties regarding the company’s ability to maintain the health, capacity and content of its satellite constellation, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the “SEC”) on February 15, 2024, and the Company’s Form 10-Q for the quarter ended June 30, 2024, filed with the SEC on July 23, 2024, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium’s forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.
Press Contact:Jordan HassinIridium Communications [email protected]+1 (703) 287-7421X: @Iridiumcomm
Investor Contact:Kenneth LevyIridium Communications [email protected]+1 (703) 287-7570
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Artificial Intelligence
Infosys and Microsoft Expand Strategic Collaboration to Accelerate Customer Adoption of The Microsoft Cloud and Generative AI
In conjunction with Microsoft, Infosys Cobalt, Topaz, and Aster will aim to enhance customer experiences and drive global adoption of enterprise AI
BENGALURU, India, Oct. 9, 2024 /PRNewswire/ — Infosys (NSE: INFY), (BSE: INFY), (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced an expansion of its collaboration with Microsoft to help accelerate customer adoption of generative AI and Microsoft Azure, globally. The strategic collaboration is aimed at helping Infosys’ and Microsoft’s joint customers realize the value of their technology investments and secure transformative outcomes.
Infosys and Microsoft’s generative AI collaboration commenced when Infosys became an early adopter of GitHub Copilot, which enabled them to realize significant efficiencies in code modernization and completion. Infosys is a top GitHub Copilot “customer zero” with currently over 18,000 developers who have generated and used more than 7 million lines of code from Copilot. Coupled with its recently launched, an industry-first, GitHub Center of Excellence (CoE), Infosys is uniquely positioned to offer enterprise AI innovation to customers around the world.
In addition, Infosys was chosen as a strategic supplier to support Cloud and AI workloads for Microsoft’s enterprise customers. Infosys will infuse Microsoft’s generative AI suite of offerings across its Solution IP portfolio to bring unique capabilities to market, helping clients achieve cost-efficiency, scalability, and agility.
In conjunction with Microsoft’s technology and its own industry-leading AI and Cloud suite of offerings, Infosys Topaz and Infosys Cobalt, as well as its AI-powered marketing suite Infosys Aster, the collaboration will help enhance customer experiences and drive the global adoption of enterprise AI.
The scope of this expanded collaboration will include:
Financial Services – Infosys’ domain expertise with Finacle, alongside Microsoft’s advanced capabilities will enable financial institutions to engage, innovate, operate, and transform more efficiently.Healthcare – Infosys Helix, a next-gen healthcare payer platform built on Microsoft Azure, uses AI/ML automation to optimize patient outcomes, will provide access to care, and enhance constituent experiences, while streamlining processes and reducing costs.Supply Chain – This sector will see optimized processes and increased agility through the combined strengths of TradeEdge and Azure OpenAI service.Telecommunications – Microsoft’s generative AI and Infosys Live Operations platforms will deliver enhanced connectivity and customer experiences.Infosys Energy Management Solution, coupled with Microsoft’s commitment to sustainability, will accelerate the NetZero journey for customers.Customer service – Infosys Cortex, an AI-driven customer engagement platform, integrates Microsoft GenAI and Copilot to deliver specialized and individualized copilot assistance to every member of a customer service organization.Many of these solutions will be available on Azure Marketplace, allowing customers to utilize their Microsoft Azure Consumption Commitment (MACC), creating a mutually beneficial market proposition.
As the collaboration grows, both companies are also focusing on sharing best practices for Responsible AI. Infosys is a key partner in The Microsoft Responsible AI Partner Initiative, contributing to the development of ethical AI guidelines through Infosys’ Responsible AI (RAI) Office. Skilling efforts are also part of the collaboration, ensuring that the workforce is equipped with the necessary expertise to support these initiatives.
Anand Swaminathan, EVP and Global Industry Leader – Communications, Media and Technology, Infosys, said, “This collaboration addresses various business problems by delivering heightened value to clients through a customer-centric approach, providing scalability, agility, and cost-efficiency across key sectors like Finance, Healthcare, Supply Chain, and Telecommunications. As Infosys and Microsoft embark on this transformative journey together, we are poised to redefine industry standards and empower organizations to thrive in the era of generative AI.”
Nicole Dezen, Chief Partner Officer at Microsoft, said, “Our expanded collaboration with Infosys will transform industries, enhance business operations, elevate employee experiences, and deliver new value for customers. Together, we will harness the power of generative AI to deliver innovative solutions, drive AI Adoption and enable unprecedented innovation for customers.”
About Infosys
Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.
Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.
Safe Harbor
Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results or outcomes to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
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NEW YORK, Oct. 9, 2024 /PRNewswire/ — Fractal (www.fractal.ai), a global provider of artificial intelligence and advanced analytics solutions to Fortune 500® companies, announced today that it has achieved the Amazon Web Services (AWS) Generative AI Competency. This milestone recognizes Fractal’s expertise and commitment to leveraging AI technologies to drive innovation and transformation for its global clients.
The AWS Generative AI Competency identifies partners who have demonstrated technical proficiency and customer success in areas critical for deploying generative AI technologies. Fractal’s achievement of the AWS Generative AI Competency highlights its technical expertise and customer success in areas like minimizing hallucinations, prompt engineering, and model customization.
“We are honored to achieve the AWS Generative AI Competency, which underscores our commitment to pushing the boundaries of AI innovation,” said Dylan Dias, Chief Alliance Officer, Fractal. “This recognition from AWS is a testament to our team’s hard work and expertise in developing and deploying generative AI solutions that create tangible value for our clients. We look forward to continuing our partnership with AWS to empower businesses with AI technologies that drive meaningful transformation.”
With experience in Generative AI projects, Fractal helps clients drive digital transformation by enhancing customer experiences, delivering personalized content, streamlining workflows, and providing actionable insights powered by AWS technology. Through AI-driven insights, Fractal enables organizations to achieve faster decision-making, greater efficiency, and deeper customer engagement.
With this accomplishment, Fractal joins a group of partners recognized by AWS. With this competency Fractal aims to drive new business opportunities and reinforce its trusted partnership with AWS. Fractal continues to build on its existing AWS competencies in data and analytics, retail, and financial services, further establishing its credentials as a AI-powered solution provider.
The AWS Competency Program connects customers with trusted AWS Competency Partners, recognized for their expertise and ability to deliver reliable solutions on AWS. These partners are essential in helping organizations of all sizes efficiently adopt, develop, and implement complex AWS projects while following industry best practices.
About Fractal
Fractal is one of the most prominent providers of Artificial Intelligence to large global enterprises. Fractal’s vision is to power every human decision in the enterprise, and bring AI, engineering, design & domain to help the world’s most admired companies.
Fractal’s businesses include Asper.ai (AI for revenue growth management) and Flyfish (Generative AI for Sales). Fractal incubated Qure.ai, a leading player in healthcare AI for detecting Tuberculosis, Lung cancer, heart failure and stroke.
Fractal has over 4600 employees across 18 global locations, including the United States, UK, India, Singapore, Middle East and Australia. Fractal has been recognized as “Great Workplace” and “India’s Best Workplaces for Women” in the top 100 (large) category by The Great Place to Work® Institute; featured as a leader in Data Engineering services 2024 & Data Science Services 2024 by Information Services Group, Leader in AI and Analytics Services Specialists Peak Matrix Assessment 2024 by Everest Group, Leader in Customer Analytics Service Providers Wave™ 2023 by Forrester Research, Inc.
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Artificial Intelligence5 days ago
AIoT Market worth $79.13 billion by 2030 – Exclusive Report by MarketsandMarkets™
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Uncategorized5 days agoDigital Domain Teams Up with AWS to Scale Autonomous Virtual Human Technology and Introduces Generative AI-Powered Features
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Artificial Intelligence6 days agoCommercial HVAC System Shipments Valued at US$354 Billion in 2030 Driven by Innovations in Cooling, Energy Efficiency, and Sustainability
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Artificial Intelligence5 days agoClarivate in partnership with Abiquifi Announces Annual Summit LATAM Agenda
