Artificial Intelligence
Gorilla Technology Group Inc., a Global Leader in Edge Artificial Intelligence (AI), and Global SPAC Partners Co. Announce Closing of Business Combination
- The Business Combination will add cash, including funds from Global’s trust account and $41.9 million in PIPE subscriptions, to support Gorilla’s growth and internal expansion.
- Gorilla ordinary shares and warrants are expected to commence trading on The Nasdaq Capital Market under ticker symbols “GRRR” and “GRRRW,” respectively, on July 14, 2022.
Taipei, Taiwan and New York, NY, July 13, 2022 (GLOBE NEWSWIRE) — Gorilla Technology Group Inc. (“Gorilla”) (Nasdaq: “GRRR” for ordinary shares and “GRRRW” for warrants), a global leader in edge video analytic artificial intelligence, IoT technologies, and cybersecurity, and Global SPAC Partners Co., today announced the completion of their previously announced business combination (the “Business Combination”). The post-closing company is called Gorilla Technology Group Inc. and its ordinary shares and warrants are expected to begin trading on The Nasdaq Capital Market (“Nasdaq”) under the new ticker symbols “GRRR” and “GRRRW,” respectively, on July 14, 2022. The Business Combination was approved at an extraordinary general meeting of Gorilla’s shareholders and an extraordinary general meeting of Global’s shareholders on July 13, 2022, with holders of subunits redeeming 88.4% of the pre-merger outstanding subunits. Upon closing of the Business Combination, the previously-trading units, subunits and warrants of Global ceased to trade and the units and subunits were separated into their component parts.
The Business Combination will provide cash, including funds from Global’s trust account and $41.9 million from PIPE subscriptions. Pursuant to the amended subscription agreements of May 18, 2022, PIPE investors exercised their option to purchase $11.6 million of the subunits subscribed for via purchases in the open market, representing 8.9% of the pre-merger outstanding subunits, and which were not redeemed at the closing of the Business Combination. The proceeds will be used for working capital, business growth, international expansion, and other general corporate purposes.
The Business Combination will allow Gorilla to continue its growth momentum in the rapidly growing edge computing market, thereby providing a significant growth opportunity to Gorilla. Edge computing – which sits at the intersection of AI, IoT, and Big Data – promises to improve business agility by bringing the infrastructure and applications closer to where the data is generated and consumed, thereby powering the next wave of digital transformation.
Gorilla’s leading edge AI technology has been developed over the last 20 years and includes 31 patents granted or pending with solutions available across hardware platforms, and via AI models, AI appliances, and AI SaaS modules. It develops a wide range of video-centric and content management solutions including Smart Cities, Smart Retail, and Enterprise Security. In addition, Gorilla provides a complete Security Convergence Platform to government institutions, telecom companies and private enterprises with network surveillance and cybersecurity.
Gorilla’s strong competitive positioning is reflected in its list of technology partners that include Softbank (Japan), Intel (US), and Dell (US), among others, and leading clients across the world including Danone, ExxonMobil, AIS – Thailand’s Largest Mobile Operator, Auresys & MasterCard, Singapore, a major smart lighting company in the UK, Portland International Airport in the US, Taoyuan Airport in Taiwan, and Taipei Medical University Hospital, among others. Gorilla also has the backing of marquee investors, including SBI Group (Japan), Acer (Taiwan), Telstra Ventures (Australia), Asteria (Japan) and Dell (US).
Jay Chandan, former Chairman of Global and now Executive Chairman of Gorilla, stated, “Today marks a new journey for all at Gorilla. The Gorilla team has developed an outstanding technology platform with remarkably broad applicability. We aim to capitalize on this foundation by extending Gorilla’s international reach and expanding its ecosystem, while continuing to innovate for the future. Building a global presence and working with our diverse teams to enhance our customers’ capabilities and experience; Gorilla’s solutions have at their core: security, flexibility and responsiveness. Founded on these watchwords, our commitment to maximizing long-term shareholder value will be achieved by making Gorilla the go-to vendor for Edge AI and by making it the employer of choice for the most talented colleagues. We are especially encouraged by the PIPE financing consisting of equity, which has afforded us the opportunity to avoid a complex structured financing, all too common in the current challenging environment. The net proceeds from the Business Combination and PIPE will help strengthen Gorilla’s financial position and fund the research & development and improve brand awareness. We are all incredibly elated about this journey and firmly believe the best is yet to come. I personally want to thank Mr. Stephen N. Cannon of Global for his incredible dedication and unwavering support during the entire transaction. They don’t make people like him, nowadays!”
Tomoyuki Nii, former Chairman and current director of Gorilla and Partner at SBI Group, stated, “This significant milestone presents a huge opportunity for Gorilla on a global stage. It elevates Gorilla’s innovation capabilities to a global audience. I would like people to look back and know that this was the turning point in our business.”
Dr. Spincer Koh, Founder and CEO of Gorilla, stated, “Today marks a significant milestone for Gorilla and its employees, and we are excited to accelerate our growth with a truly disruptive technology platform used by some of the world’s largest companies. Gorilla’s long-term partnership with Global and other established investors will allow us to more rapidly scale our operations, introduce new technology innovations, and expand into new markets.”
Following completion of the Business Combination, the Gorilla’s board of directors consists of Jayesh (Jay) Chandan, as Executive Chairman, Dr. Spincer Koh, CEO of Gorilla, Tomoyuki Nii, Partner of SBI Group, Yoichiro (Pina) Hirano, CEO of Asteria Corporation, Rt. Honourable Ruth Kelly and Gregg Walker, Partner and Managing Director of Muller & Monroe Asset Management.
Advisors
I-Bankers Securities, Inc. acted as sole bookrunner for the Global SPAC Partners Co. IPO, served as financial advisor to the SPAC, and lead PIPE placement agent.
K&L Gates LLP served as legal counsel to Gorilla.
Ellenoff Grossman & Schole LLP served as legal counsel to Global.
Maples and Calder (Cayman) LLP served as Cayman Islands counsel.
About Gorilla Technologies Group Inc.
Gorilla, headquartered in Taipei, Taiwan, is a global leader in security intelligence, network intelligence, business intelligence and IoT technology. Gorilla develops a wide range of solutions including Smart Cities, Smart Retail, Enterprise Security, and Smart Media. In addition, Gorilla provides a complete Security Convergence Platform to government institutions, Telecom companies and private enterprises with network surveillance and cyber security.
Gorilla places an emphasis on offering leading technology, expert service, and precise delivery, and ensuring top-of-the-line, intelligent and strong Edge AI solutions that enable clients to improve operational performance and efficiency. With continuous core technology development, Gorilla will deliver Edge AI solutions to managed service providers, distributors, system integrators, and hardware manufacturers.
About Global SPAC Partners Co.
Global is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses globally. Prior to the Business Combination, Global was led by Chairman, Jay Chandan, Chief Executive Officer, Bryant B. Edwards, Chief Operating Officer & President, Stephen N. Cannon, and Chief Financial Officer, Long Long.
No Offer or Solicitation
This press release does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Forward-Looking Statements
This press release contains, and certain oral statements made by representatives of Global and Gorilla and their respective affiliates, from time to time may contain, “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Global’s and Gorilla’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “might” and “continues,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, statements regarding commencement of trading on Nasdaq, the failure to realize the anticipated benefits of the Business Combination, the expected use of proceeds, Gorilla’s continued growth and expansion and its ability to deliver value to customers and investors, along with those other risks described under the heading “Risk Factors” in the proxy statement/prospectus filed with the Securities and Exchange Commission (the “SEC”) on July 7, 2022, and those that are included in any of Gorilla’s future filings with the SEC. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. Most of these factors are outside of the control of Global or Gorilla and are difficult to predict. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Global and Gorilla undertake no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.
Contacts
Gorilla Technologies Group, Inc.
Stardi Yen
+886 2 7720 7889
[email protected]
Global SPAC Partners Co.
Peter Wright
(617) 454-1088
[email protected]
Artificial Intelligence
Simplilearn and Degreed Collaborate to Transform Workforce Development with AI-Enhanced Learning
SAN FRANCISCO, Oct. 2, 2024 /PRNewswire/ — Simplilearn, the world’s leading digital skills training provider, and Degreed, the innovative learning platform, today announced their strategic partnership to offer premier educational content and platform solutions that drive skills-based learning. This collaboration introduces Simplilearn as one of the first to join Degreed’s AI-Ready partner category, integrating Simplilearn’s extensive educational offerings with Degreed’s advanced learning solutions to deliver transformative learning experiences for individuals and enterprises.
Simplilearn has been at the forefront of digital skills training for over a decade, supporting professionals and organizations worldwide with holistic learning experiences that are instructor-led and hands-on. Their comprehensive range of high-quality courses in artificial intelligence, machine learning, cloud computing, data science, and digital marketing is now seamlessly integrated into the Degreed platform. This AI-powered integration equips Learning & Development (L&D) professionals with a more targeted curation experience, simplifying the creation of personalized learning plans and development pathways tailored to the evolving needs of their teams and organizations.
As technology rapidly transforms industries and reshapes job roles, the demand for advanced, practical training is at an all-time high. Degreed’s ‘AI-Ready’ partner category makes it easier for customers to discover, organize, and access relevant learning materials. Through this partnership, a comprehensive suite of courses and resources is more easily discoverable, empowering individuals and organizations to upskill and stay competitive in the fast-evolving tech landscape.
Leveraging AI, the platform will offer personalized course recommendations based on each learner’s background and experience. This intelligent approach ensures that training is relevant and aligned with individual career goals and organizational needs. Additionally, the collaboration offers access to over 700 live classes each month, keeping teams updated with the latest industry trends and technological advancements. Complementing these live sessions are more than 500 courses and role-based learning paths covering essential areas such as AI, cybersecurity, data science, and machine learning.
Mr. Krishna Kumar, Founder and CEO, Simplilearn, said, “Partnering with Degreed represents a pivotal moment in our journey at Simplilearn. This collaboration underscores our commitment to harnessing cutting-edge technology and tailored learning experiences. By integrating Degreed’s advanced AI capabilities with our industry-leading programs, we are poised to redefine how individuals and organizations approach skill development, ensuring a more agile and role-ready workforce.”
Mr. Max Wessel, co-CEO of Degreed, said, “Our partnership with Simplilearn shows our dedication to equipping professionals with the most relevant skills for today’s fast-paced technology landscape. By using AI to power the integration of Simplilearn’s top-tier courses into Degreed, we enhance our ability to offer personalized, precise, and high-impact learning experiences – helping organizations turn the talent they have into the talent they need.”
About Degreed:
Degreed is the enterprise learning company, offering the world’s leading experience platform to drive skill driven development. Degreed enables organizations to collect, understand, and build skills to develop a workforce that’s ready for anything. To learn more about Degreed, visit www.degreed.com.
About Simplilearn:
Founded in 2010 and based in San Francisco, California, and Bangalore, India, Simplilearn, a Blackstone portfolio company, is the world’s leading digital skills provider, enabling learners across the globe. Simplilearn offers access to world-class work-ready training to individuals and businesses worldwide. Simplilearn offers 1,500+ live classes each month across 150+ countries, impacting over 8 million learners globally. The programs are designed and delivered with world-renowned universities, top corporations, and leading industry bodies via live online classes featuring top industry practitioners, sought-after trainers, and global leaders. From college students and early career professionals to managers, executives, small businesses, and big corporations, Simplilearn’s role-based, skill-focused, industry-recognized, and globally relevant training programs are ideal upskilling solutions for diverse career or business goals.
For more information, please visit www.simplilearn.com/
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Artificial Intelligence
Multinational Auto Manufacturer to Insource Service Operations with 3CLogic’s Integrated AI and Contact Center Solution for ServiceNow CSM and ITSM
Leading conglomerate selects 3CLogic’s CCaaS offering, purpose-built for ServiceNow CSM and ITSM, as it insources service desk operations to streamline workflows and save millions in operating costs.
ROCKVILLE, Md., Oct. 2, 2024 /PRNewswire/ — 3CLogic, the leading AI and cloud contact center solution for ServiceNow®, today announced the integration of its AI and CCaaS capabilities by a leading auto manufacturer as it seeks to optimize its service desk operations. Leveraging the company’s existing investment in ServiceNow IT Service Management (ITSM) and Customer Service Management (CSM), the collaboration is expected to enhance productivity, improve issue resolution, and significantly reduce operating expenses.
Manufacturing tens of millions of vehicles and equipment annually, supported by a vast network of over 150,000 associates and affiliates, the organization faced challenges due to the limited insights and services provided by its outsourced contact center. Among the most impactful was the lack of integration to its back-office ServiceNow IT and Customer workflows, where the siloed structure negatively impacted the organization’s visibility into performance, process improvements, and service speed.
“We are delighted to support this strategic initiative,” explains Denis Seynhaeve, CEO at 3CLogic. “This is yet another example of a large enterprise organization eager to reclaim ownership of its internal and external support services to enable better experiences through automation, simplification of its technology stack, and tactical use of AI for better insights.”
3CLogic’s integrated AI and contact center solution with ServiceNow CSM and ITSM will deliver a number of capabilities, including AI-powered call transcription and sentiment analysis, automated agent performance and coaching, after-hours voicemail transcription, integrated SMS alerts & notifications, and consolidated reporting with ServiceNow’s native performance analytics. The insourcing of services and process efficiencies are expected to generate approximately $2.6 million in ROI within the first three years of deployment. In addition, the organization is exploring the consolidation of its HR service delivery to unify its operations further.
As the first and only ServiceNow-certified Advanced Platform CCaaS partner, 3CLogic displays a unique approach to streamlined employee and customer workflows for ServiceNow and is expected to discuss its latest AI and contact center capabilities for ServiceNow ITSM, CSM, HRSD, and source-to-pay at the upcoming World Forums in Dallas, TX, on October 8th, 2024, in Munich, Germany, on October 23rd, 2024, and in New York City, NY, on November 7th, 2024.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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Artificial Intelligence
Life Science Analytics Market to Hit USD 61.94 Billion by 2029 with 11.7% CAGR | MarketsandMarkets™
DELRAY BEACH, Fla., Oct. 2, 2024 /PRNewswire/ — The global life science analytics market is projected to grow from USD 35.69 billion in 2024 to USD 61.94 billion by 2029, at a robust CAGR of 11.7%. Key drivers include advancements in analytical technologies that streamline data management and enhance insights from diverse sources like clinical trials and electronic health records, alongside rising demands for precision medicine. However, challenges such as data privacy concerns and a shortage of skilled professionals hinder progress. Noteworthy collaborations, like those between TetraScience and Databricks, exemplify the trend towards leveraging AI for improved outcomes in drug development and clinical trials. North America leads the market, fueled by high healthcare expenditure and a focus on innovation, while descriptive analytics currently dominates the market segments. Overall, the life science analytics landscape is evolving rapidly, presenting both opportunities and challenges that stakeholders must navigate to enhance research and operational efficiencies.
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Browse in-depth TOC on “Life Science Analytics Market”
455 – Tables54 – Figures385 – Pages
Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing life science analytics by enabling advanced data analysis, pattern recognition, and predictive modeling, which are crucial for enhancing drug discovery, clinical trials, and personalized medicine. Companies are investing in leveraging AI & ML across their product lifecycles. In February 2024, Trinity Life Sciences launched Brand Insights AI, a new tool designed to enhance biopharmaceutical brand research by ingesting data from various sources, accelerating analysis, and revealing hidden patterns. This powerful tool leverages Trinity’s AI expertise to refine insights and optimize the use of existing information, supporting impactful and efficient research across the pharmaceutical commercialization spectrum.
The global life science analytics market is segmented into descriptive, prescriptive, and predictive analytics, by type. The prescriptive analytics segmented is expected to register highest growth during the forecast period. The high growth of this market is. driven by its ability to offer actionable recommendations, optimize decision-making, and streamline complex processes such as clinical trial management and personalized medicine. Its advanced predictive capabilities help stakeholders minimize risks, enhance treatment outcomes, and improve operational efficiency. Additionally, the excrubating demand for precision medicine and real-time data-driven strategies further fuels its adoption.
The life science analytics market is divided into services, and software, by component. In 2023, the largest share of life science analytics market belonged to the services segment. The high adoption of life science analytics services over software is driven by the need for specialized expertise and tailored solutions that go beyond the capabilities of standalone software. Increased security, improved cost effectiveness, better usability & flexibility, and improved integration capabilities of services are a few factors impacting market growth. Moreover, the escalating user base and changing needs of companies looking for all-inclusive solutions and support, coupled with the adoption of life science analytics software, generate demand for a range of services, including modification, implementation, and consulting.
The surging adoption of advanced analytics in commercial operations within the life sciences sector is revolutionizing how companies cultivate market strategies & enhance business performance to optimize product launches by providing insights into market trends, competitive landscapes, and customer preferences. Companies are leveraging various organic & inorganic strategies to expand their offerings in commercial operations. For instance, in April 2024, IQVIA and Salesforce expanded their global strategic partnership to accelerate the development of Salesforce’s Life Sciences Cloud, a next-generation customer engagement platform. This collaboration will combine IQVIA’s Orchestrated Customer Engagement (OCE) platform with Salesforce’s CRM, offering an end-to-end solution for transforming healthcare professional and patient engagement in the life sciences industry.
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The prominent players operating in the Life science analytics market include Oracle (US), Merative (formerly IBM) (US), SAS Institute (US), Accenture (Ireland), IQVIA (US), Cognizant (US), Wipro (India), Veradigm (US), Optum (US), Microsoft (US), MaxisIT (US), ExlService Holdings (US), Inovalon (US), CitiusTech (US), Saama (US), Axtria (US), Clarivate (UK), ThoughtSphere (US), ThoughtSpot (US), Salesforce (US), Google LLC (US), Amazon Web Services, Inc. (US), Veeva Systems (US), Elsevier (Netherlands), and Komodo Health, Inc. (US). These companies adopted strategies such as product launches, product updates, expansions, partnerships, collaborations, mergers and acquisitions to strengthen their market presence in the life science analytics market.
These players not only have a comprehensive and diverse product portfolio but also a strong geographic presence. Owing to the emergence of new application areas for life science analytics, these players can focus on technologies and offerings dedicated towards research & development, commercial operations, safety, etc.
These market players have offered a diverse range of products and services and have operations worldwide. They rely on technological advancements to avail themselves of innovative products and services and increase their global footprint. These players focus on acquisitions, collaborations, agreements, mergers, product launches & updates, partnerships, expansions, and other recent developments to expand their global reach and develop advanced life science analytics solutions.
Oracle (US) is one of the leading life science analytics companies across the globe. The company provides analytics software & services for various applications including research & development, commercialization, among others. The company focuses on continuously updating its products and meeting customer expectations. Oracle also continuously invests in expanding its solutions by partnerships & collaborations to provide tailored solutions to its end users. For instance, in February 2024, Oracle partnered with ObvioHealth, Inc. to integrate diverse data in decentralized clinical trials and analyze health data from several sources for clinical trials anywhere globally. The company holds a broad customer base and a wide geographic presence, making Oracle as a critical player in various IT software, hardware, and service-related markets, including the life science analytics market.
Merative (US) is one of the prominent players operating in the life science analytics market. Merative offers a comprehensive suite of informatics products and services for life science analytics. The company leverages advanced technologies such as artificial intelligence (AI), machine learning (ML), and other technologies to strengthen the accuracy and efficiency of evidence analysis. The company has a strong brand recognition and extensive product portfolio that has contributed to its success. The company serves life science systems, clinical trial sponsors, and medical device manufacturing industries. The company has established offices across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
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