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Basware Announces Firm Intention to Make an Offer to Acquire Glantus Holdings PLC

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Two global leaders in invoice processing will combine expertise, product and customer base
LONDON, Aug. 14, 2023 /PRNewswire/ — Genesis Bidco Limited, a wholly-owned subsidiary of Basware, a leader in making AP automation and invoice processing happen, today announced its firm intention to make an offer to purchase the entire share capital of Glantus Holdings PLC (LSE: GLAN). The Glantus Board unanimously recommends the offer.
Combining market-leading AP automation from Basware and specialist audit recovery and fraud prevention software from Glantus means customers will obtain complete coverage through the entire invoice processing and capital management lifecycle. Glantus’ solution will be plugged into Basware’s offering, bringing deeper expertise, an end-to-end data-driven view and speed to value savings for customers.
Basware enables finance and accounting teams in global enterprises to achieve efficiency through its invoice processing and AP automation platform. Through its 1,300 strong workforce, Basware automates more than 170 million invoices for thousands of customers globally every year. Basware is backed by Accel-KKR, a leading software private equity firm.
Glantus helps scaling companies generate capital by streamlining their financial processes, correcting anomalies, consolidating their data and providing real time reconciliation reports. Through its Datashark AP platform, it specialises in capital recovery from payment errors and identifying invoice fraud. Glantus went through an IPO on the AIM market of the London Stock Exchange in May 2021.
Jason Kurtz, CEO, Basware, commented on the acquisition:
“Having communicated with the leadership team at Glantus recently, I’ve been thoroughly impressed by their dedication to revolutionise invoice automation for the office of the CFO – a vision behind which we both unite. Both our companies target similar customer segments – and we will be able to share our strengths with Glantus, as well as learn from theirs. Glantus is an exceptional fit with our investment strategy in terms of size, focus and business model. Our proposed acquisition of Glantus will further expand our product suite and we believe add value to customers in an accelerated time.”
Maurice Healy, Founder and CEO, Glantus Holdings PLC, added:
“This offer represents the biggest opportunity in Glantus’ 10-year history. We are immensely excited at the prospect of joining a leader in invoice automation in Basware. The synergy between our companies and our customer markets mean that we will be a natural fit. We are looking forward to working with Basware and the opportunity to combine the product offering as a result of the proposed transaction.”
Following a successful acquisition and delisting, all parties intend to work together to develop Glantus in the private domain.
Subject to obtaining all necessary approvals, the transaction is expected to be finalised in Q4 2023. For more information, the announcement issued under Rule 2.7 of the Irish Takeover Rules on 14 August 2023 is available on Glantus’ website at www.glantus.com and Basware’s website at www.basware.com.
Statement Required by the Irish Takeover Rules
The Genesis Bidco Limited directors and the Basware directors accept responsibility for the information contained in this communication other than that relating to Glantus, and for the statements made by Glantus in respect of Basware. To the best of the knowledge and belief of the Genesis Bidco Limited directors and the Basware directors (who, in each case, have taken all reasonable care to ensure such is the case), the information contained in this communication for which they respectively accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.
The Glantus directors accept responsibility for the information contained in this communication relating to Glantus, except for the statements made by Basware in respect of Glantus. To the best of the knowledge and belief of the Glantus directors (who, in each case, have taken all reasonable care to ensure such is the case), the information contained in this communication for which they respectively accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.
No Profit Forecast / Asset Valuations
No statement in this press release constitutes a profit forecast for any period, nor should any statement be interpreted to mean that earnings or earnings per share will necessarily be greater or lesser than those for the relevant preceding financial periods for Genesis Bidco Limited, Basware or Glantus as appropriate. No statement in this press release constitutes an asset valuation.
Forward-Looking Statements
This press release contains certain forward-looking statements with respect to a proposed transaction involving Genesis Bidco Limited, Basware and Glantus, and following the acquisition, if completed, the combined group. The words “believe,” “expect,” “anticipate,” “project”, “intend” and similar expressions, among others, generally identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Any forward-looking statements in this communication are based upon information available to Genesis Bidco Limited, Basware, Glantus and/or their respective boards of directors, as the case may be, as of the date of this communication and, while believed to be true when made, may ultimately prove to be incorrect. No obligation is undertaken to update these forward-looking statements.
Publication on a Website
In accordance with Rule 26.1 of the Irish Takeover Rules, a copy of this press release will be available on Glantus’ website at www.glantus.com and Basware’s website at www.basware.com by no later than 12 noon (London time) on 14 August 2023. The content of the websites referred to in this press release is not incorporated into and does not form part of this press release.
Media Contact
BaswareAbs HassanaliGlobal Head of PR & [email protected]
GlantusMaurice [email protected]
About Basware
Basware is how finance leaders in global enterprises can finally automate their complex, labor-intensive invoice processes and stay compliant with regulatory change. Our AP automation and invoicing platform helps you achieve a new level of efficiency – in a matter of months – while reducing errors and risks. We bring a unique combination of true automation, complete coverage, and deeper expertise to make it all just happen for our customers. That’s why the world’s most efficient AP departments at thousands of companies rely on Basware to handle over 170 million invoices per year. Basware. Now it all just happens.™
About Glantus
Glantus is a global provider of accounts payable automation and analytics solutions. The Glantus mission is to simplify data to drive constant innovation. The award-winning Glantus Datashark Platform is rapidly deployed around existing transactional systems to provide a single platform for Accounts Payable transformation. The automation solutions recover lost working capital, improve efficiency, and prevent errors. The advanced analytics empower customers to make decisions based on real-time data. We connect all AP systems and suppliers, eliminating cost and delivering new revenue streams. Glantus champions the amazing potential of the AP industry by freeing up its leaders, its best thinkers, and its doers to realise new value. We work in tandem with our partners, to deliver joint enterprise digital transformation solutions. For more information see glantus.com.
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Aon and Marsh McLennan call on (re)insurance industry to aid Ukraine’s resilience

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–      The firms emphasized that the removal of blanket exclusions would catalyze Ukraine’s growth and future reconstruction
MONTE CARLO, Sept. 8, 2024 /PRNewswire/ — Aon and Marsh McLennan today called on the (re)insurance industry to build upon the capital, expertise and historical role of the (re)insurance industry to help Ukraine’s resilience by catalyzing economic growth and strengthening the country’s foundations for a post-conflict economy. The firms emphasized that the removal of blanket exclusions, which ignore the diversity of risk throughout the country, would further support for Ukraine’s economy.

Additionally, since the start of the war, many global reinsurers have grouped risks originating in Ukraine, Russia, and Belarus together, excluding them from reinsurance contracts, limiting (re)insurance capital and impeding economic growth and stability. The inclusion of Ukraine with Russia and Belarus is not rooted in the data and analytics that drive the assessment of risk and overlooks that Ukraine, while under siege, seeks to further align as a free and democratic economy and member of the European Union. 
“Marsh McLennan is dedicated in our support of Ukraine – helping it attract global investment to rebuild the country, and recover from the devastating impact of war on its people and economy,” said John Doyle, president and CEO of Marsh McLennan. “We call on the global insurance community to join us in this effort and end blanket exclusions for Ukraine.”
“Aon’s support of Ukraine leads us to look forward to its economic recovery,” said Greg Case, CEO of Aon. “Insurance capital is essential for the reconstruction of Ukraine’s health care, energy and agricultural sectors. We’re asking the insurance industry to look closely at Ukraine’s risks and work to strengthen the public private partnerships under development.”
Marsh McLennan and Aon each are already working with the Ukraine, U.S. and UK governments, along with many other international organizations, to support Ukraine’s economy as it endures ongoing attacks and accelerate investment in the country’s eventual economic recovery.
In March, Marsh McLennan announced the expansion of its public-private partnership with the Ukraine government to cover all shipping to and from Ukraine’s ports. This follows Marsh McLennan’s support in helping the Ukraine Government develop its war risk data platform which provides investors and (re)insurers with granular transparent data on the impact of the conflict to date and degree of war risk. 
In June, Aon worked with the U.S. International Development Finance Corporation to create a first-of-its-kind insurance program to support war risk policies for businesses operating in Ukraine. The availability of insurance for war risk, especially across health care and agriculture, will stimulate economic expansion and employment, while strengthening the foundation of Ukraine’s economy to support a robust reconstruction.
The firms assert that arbitrary exclusions for Ukraine contribute to confusion about the vastly different levels of risk in the country. As a result, there are potential issues with how (re)insurers underwrite risks between regions directly impacted by the war and many areas of central and western Ukraine which have suffered little to no war damage. The use of data and analytics can enable more impactful insights into where insurance capital can contribute to Ukraine’s reconstruction and further economic growth.
About AonAon plc (NYSE: AON) exists to shape decisions for the better — to protect and enrich the lives of people around the world. Through actionable analytic insight, globally integrated Risk Capital and Human Capital expertise, and locally relevant solutions, our colleagues provide clients in over 120 countries with the clarity and confidence to make better risk and people decisions that protect and grow their businesses.
Follow Aon on LinkedIn, X, Facebook and Instagram. Stay up-to-date by visiting Aon’s newsroom and sign up for news alerts here.
About Marsh McLennanMarsh McLennan (NYSE: MMC) is a global leader in risk, strategy and people, advising clients in 130 countries across four businesses: Marsh, Guy Carpenter, Mercer and Oliver Wyman. With annual revenue of $23 billion and more than 85,000 colleagues, Marsh McLennan helps build the confidence to thrive through the power of perspective. For more information, visit marshmclennan.com, or follow on LinkedIn and X.
Media Contacts
[email protected] (U.S., Canada and Puerto Rico): +1 833 751 8114International: +1 312 381 3024
Marsh McLennanJason [email protected]+44 (0)7733 325 587
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View original content:https://www.prnewswire.co.uk/news-releases/aon-and-marsh-mclennan-call-on-reinsurance-industry-to-aid-ukraines-resilience-302241050.html

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Artificial Intelligence

HONOR Redefines Mobile AI Solutions with PC powered by Snapdragon, on-device AI Agent and AI Deepfake Detection at IFA 2024

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HONOR, Qualcomm, and Microsoft Redefine Innovations in Mobile AI
BERLIN, Sept. 7, 2024 /PRNewswire/ — Today at IFA 2024, HONOR unveiled three groundbreaking mobile AI Solutions: AI PC powered by Snapdragon® X Elite platforms, AI Agent and AI Deepfake Detection. The launch was accompanied by a thought-provoking panel discussion featuring HONOR CEO George Zhao; Alex Katouzian, Group GM of MCX at Qualcomm Technologies, Inc.; and Mark Linton, VP of Device Partner Sales at Microsoft. Together, they explored the convergence of AI and Snapdragon technology, discussing how these innovations are shaping the future of mobile AI.

“When it comes to mobile computing, AI is not just a buzzword, it’s a revolution,” commented George Zhao, CEO of HONOR Device Co., Ltd. “At HONOR, we’re committed to working with our partners to deliver powerful AI capabilities and seamless connectivity, while protecting our users’ privacy. Through open collaboration with industry leaders, we’re creating devices that empower individuals and redefine what’s possible.”
“At Qualcomm Technologies, we believe the NPU is the key to unlocking the true potential of AI in PCs,” added Alex Katouzian, Group GM of MCX, Qualcomm Technologies, Inc. “The Snapdragon X Elite with its industry-leading NPU performance empowers AI PCs like the HONOR MagicBook Art 14 to deliver next-generation AI experiences. Not only will users see a significant boost in capabilities, but the NPU’s efficiency also translates to longer battery life, allowing users to stay productive for extended periods.”
HONOR MagicBook Art 14 Snapdragon: Redefining PC in the Mobile AI EraThe PC landscape is undergoing a radical transformation, driven by advancements in AI and the rise of Snapdragon platforms. Fueled by HONOR’s platform-level AI capabilities and developed in collaboration with top industry leaders, HONOR MagicBook Art 14 Snapdragon heralds a new era of computing.
Featuring a sleek and compact design, the HONOR MagicBook Art 14 Snapdragon is a marvel of lightweight engineering. It incorporates cutting-edge platform-level AI features alongside robust hardware and software solutions, ensuring unmatched productivity and user experience. It translates the lightweight and slim characteristics of smartphones to laptops, delivering the lightest and slimmest AI PC on the market, weighing approximately 1kg with a slimness of 1cm. Delivering an immersive visual journey, the HONOR MagicBook Art 14 Snapdragon features a captivating 14.6-inch HONOR FullView Touch Display boasting a crystal-clear 3.1K resolution. It also includes an outstanding 97% screen-to-body ratio, the largest among 14-inch laptops. The HONOR MagicBook Art 14 Snapdragon is powered by the Qualcomm Snapdragon X Elite, elevating the computing experience to new heights in terms of power, efficiency, and security.
The HONOR MagicBook Art 14 Snapdragon also enables a smooth transition of Windows applications on X86 to the Windows on Snapdragon architecture. Based on years of research on the ecosystem, HONOR created a Hotspot Library that uses platform-level AI to identify frequently used scenarios and trigger translation optimization efficiently. HONOR has improved 16% of the average boot-up time1 with translation optimization across a diverse array of Windows applications. Currently, HONOR has optimized a total of the Top 14 applications across six major categories, including browsers, online meetings, media, office, social software and tools.
The HONOR MagicBook Art 14 Snapdragon will be soon available in German, France and Italy.  For preorder, please visit HONOR online store now at www.honor.com.
Seamless AI Experiences Elevated by the Power of MagicRingIn the mobile AI era, seamless cross-OS connectivity will truly empower users to unlock AI everywhere. Unlike the manual point-to-point connections in traditional solutions, the HONOR MagicRing allows multiple devices of the same account to automatically connect with low power consumption.
The MagicRing not only connects devices but also connects services across the devices. The solution also enables users to use the same set of keyboard and mouse for multiple devices, receive calls and notifications on a device other than their smartphones, and control the smartphone’s camera on the PC. With the secure and smooth flow of services and information across devices, MagicRing makes multi-device AI experience easier. For example, as one of the typical scenarios of Windows on Snapdragon experience, Cocreator allows users to produce fantastic artwork with simple draws. Powered by MagicRing, users can seamlessly access Cocreator on their HONOR MagicPad 2, drawing AI masterpieces with their Magic-Pencil. In the Meanwhile, they can also use AI Eraser from HONOR Magic V3 on the HONOR MagicBook Art 14 Snapdragon to experience unparalleled levels of convenient mobile AI.
HONOR AI Agent: The First On-device AI Agent for the Open Ecosystem The HONOR AI Agent is a revolutionary always-on personal assistant designed to enhance and simplify users’ daily lives. By intuitively understanding users’ requests and intentions through language analysis and UI awareness technology, the AI Agent that learns from their habits and device environment can intelligently make decisions across various apps and services. This capability allows it to automate complex tasks. HONOR demonstrated how to find and cancel unwanted app subscriptions across different apps with just a few simple voice commands on their smartphones.
As we look to the future, the HONOR AI Agent is poised to become the cornerstone of mobile AI, and it is anticipated to arrive with the HONOR Magic7 Series later this year in China. This innovation not only signifies a leap in technology but also heralds a new era where AI seamlessly integrates into our daily routines, enhancing everyday productivity and efficiency.
The World’s First On-device AI Deepfake Detection TechnologyAs the technology behind deepfakes becomes more sophisticated, the potential for misuse, including identity theft and the spread of disinformation, grows significantly. HONOR’s on-device AI Deepfake Detection represents a groundbreaking solution designed to protect users from the increasingly prevalent threat of deepfakes. This innovative detection system employs advanced algorithms to meticulously analyze various elements, including pixel-level synthetic imperfections, border compositing artifacts, inter-frame continuity, consistency in face-to-ear hairstyle, and the positioning of synthetic traces. By examining these characteristics, the technology can accurately identify manipulated content, distinguishing between genuine media and deceptive alterations.
About HONOR  HONOR is a leading global provider of smart devices. It is dedicated to becoming a global iconic technology brand and creating a new intelligent world for everyone through its powerful products and services. With an unwavering focus on R&D, it is committed to developing technology that empowers people around the globe to go beyond, giving them the freedom to achieve and do more. Offering a range of high-quality smartphones, tablets, laptops and wearables to suit every budget, HONOR’s portfolio of innovative, premium and reliable products enable people to become a better version of themselves.
For more information, please visit HONOR online at www.honor.com or email [email protected] 
https://community.honor.com/  https://www.facebook.com/honorglobal/  https://twitter.com/Honorglobal  https://www.instagram.com/honorglobal/  https://www.youtube.com/c/HonorOfficial  
1Data comes from HONOR labs.

View original content:https://www.prnewswire.co.uk/news-releases/honor-redefines-mobile-ai-solutions-with-pc-powered-by-snapdragon-on-device-ai-agent-and-ai-deepfake-detection-at-ifa-2024-302241211.html

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TECNO Pocket Go Wins Global Product Technology Innovation Award 2024 at IFA 2024

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BERLIN, Sept. 7, 2024 /PRNewswire/ — One of the largest consumer electronics exhibitions in the world, the 2024 IFA Berlin International Consumer Electronics Show, officially kicks off today in Berlin. During the event, the highly anticipated Global Product Technical Innovation Award 2024 was announced, with TECNO Pocket Go winning the prestigious AR Immersive PC Gaming Experience Innovation Gold Award. This recognition highlights the brilliance of Chinese brand on the global stage.

TECNO is dedicated to innovation from the user’s perspective, continuously developing products and applications that enhance user experience. Since 2019, TECNO has expanded its AIoT ecosystem, leveraging its mobile technology to introduce innovative smart wearables, business laptops, and other groundbreaking products, all aimed at providing users with a more intelligent TECNO ecosystem experience.
As a global innovative technology brand with operations in over 70 markets, TECNO has been committed to revolutionizing the digital experience in global emerging markets, relentlessly pushing for the perfect integration of contemporary, aesthetic design with the latest technologies. TECNO offers a wide range of AIoT products covering smart wearables, laptops, tablets and smart home products.
Guided by its brand essence of “Stop At Nothing”, TECNO is committed to unlocking the best and newest technologies for forward-looking individuals, inspiring them to never stop pursuing their best selves and their best futures.
The “Global Product Technology Innovation Award” is a grand international selection of global consumer electronics brands. Launched globally every year, it is also one of the most professional and authoritative international exchange, display and cooperation platforms in IFA in the same year to conduct comprehensive review and evaluation of the global consumer electronics industry for the whole year.
TECNO Pocket Go, redefines gaming on the go
TECNO Pocket Go creates a “new gaming paradise” in handheld PC form in AR industry. By seamlessly integrating with the Windows gaming ecosystem and utilizing advanced head tracking technology, it brings an unparalleled 6D immersive experience to users. Featuring a top-tier AMD® Ryzen™ 7 8840HS gaming processor and a laptop level cooling system by rebuilt the structure to compact size with 50% smaller size and 30% lighter weight. Just easy to carry as a smartphone.  
Smaller in your palm, Master in your vision
The AR Pocket Vision features a 0.71-inch Micro-OLED screen that delivers the equivalent of a 215-inch TV experience from 6 meters away, surpassing industry standards. Gamers will enjoy a cinematic-level viewing experience, with customizable adjustments for up to 600° diopters to ensure eye comfort. It also safeguards your privacy, enabling you to play anywhere.
Dominant Flagship Gaming CPU, lead Performance Ahead
Powered by the AMD® Ryzen™ 7 8840HS gaming processor, the Pocket Go handheld offers exceptional speed and seamless multitasking with 8 cores, 16 threads, and turbo speeds up to 5.1 GHz. Its PC-level cooling system, featuring a large fan and three copper pipes, ensures optimal performance at 35W. Combined with a 50Wh replaceable battery, it guarantees long-lasting gaming sessions without interruptions.
 “VisionTrack” experiences, games come alive
The Pocket Go combo delivers an immersive experience for your eyes and hands. The AR Pocket Vision features a six-axis gyroscope and AI algorithms for precise head tracking, enhancing real-time data collection during gameplay. With N’BASS® acoustic materials and a proprietary vibration algorithm, it translates in-game sounds into nuanced vibrations via handheld while the Hall Effect Joysticks and Triggers provide precise control, elevating your gaming experience with rich visual and tactile sensations.
With TECNO Pocket Go, users can enjoy a futuristic gaming experience, and seamlessly connecting to TECNO’s products in a new forms of AR experiences.
 

View original content:https://www.prnewswire.co.uk/news-releases/tecno-pocket-go-wins-global-product-technology-innovation-award-2024-at-ifa-2024-302241146.html

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