Connect with us
European Gaming Congress 2024

Artificial Intelligence

Five Arrows Acquires Rimes from EQT

Published

on

five-arrows-acquires-rimes-from-eqt

EQT, together with its shareholders, to sell Rimes to Five ArrowsPartnership provides foundation for accelerated global expansion of Rimes’ enterprise data management and investment management platform solutionsNEW YORK and LONDON, April 9, 2024 /PRNewswire/ — Rimes, a leading provider of EDM (enterprise data management) -as-a-Service and investment platform solutions to the global investment community, today announced that it has entered into an agreement to be acquired by Five Arrows, the alternative assets arm of Rothschild & Co. The investment has been led jointly by the Five Arrows Long Term Fund (“FALT”) and Five Arrows Principal Investments (“FAPI”), together “Five Arrows”. Five Arrows targets category–leading B2B data and software sectors across a focused set of end–markets including financial technology.

Founded in 1996, Rimes is a trusted partner to asset managers and asset owners worldwide, with its customers representing more than USD 75 trillion  in global assets under management. Today, Rimes serves 60 of the world’s top 100 asset managers, as well as the 10 largest asset servicers in the world. Powered by its proprietary, multi-tenant cloud technology platform, Rimes’ data management solutions empower its clients to make better investment decisions using reliable data, while improving cost efficiency and reducing operational risk.
In October 2021, Rimes further complemented its product offering with the acquisition of Matrix IDM, which added a powerful Investment Management Platform and data distribution and warehousing solutions. Today, Rimes is well-positioned to facilitate its customers’ strategic operating model transformations and to power AI-led investment strategies.
Brad Hunt, CEO of Rimes, commented, “Rimes has been on a significant growth trajectory over the last few years, and I am really proud of what our team has achieved. Today, Rimes combines the customer-centric ethos and deep domain expertise that has differentiated us since 1996 with the industry’s most modern technology and an innovative, comprehensive product offering designed to address the investment data challenges of the future. This transformation would not have been possible without the support of EQT and our Board, and I would like to thank them for the highly successful partnership. We look forward to joining forces with Five Arrows to build upon our strong momentum going forward.”
Seif Khoufi and Constantin Sabet d’Acre, Managing Director and Director of FALT, said “The Rimes team impressed us with their ambitious vision and their strong track-record of growing and scaling Rimes in a deeply customer-centric way. This is evidenced by industry-leading levels of customer satisfaction, and a history of solving a growing share of painpoints for customers through continuous innovation. We are confident that Rimes is uniquely positioned to continue to support its customers’ expanding needs.”
Vivek Kumar and Sacha Oshry, both Partners at FAPI added, “We are delighted to be partnering with Brad and the team to unlock the next chapter of Rimes’ growth. We share in Rimes’ strategic vision centered around solving financial institutions’ most complex data problems across geographies, asset classes and customer types. We are thrilled to have the opportunity to support Rimes.” Rob Maclean, Partner within EQT Private Equity’s Advisory Team, said, “We were delighted when co-founder Christian Fauvelais chose to partner with EQT to pursue our shared vision of transforming it into a global leader in EDMaaS solutions for the investment industry. It has been a pleasure working alongside management, and the entire Rimes team to accelerate the Company’s growth.” Patrick McBride, Director within EQT Private Equity’s Advisory Team, added, “We believe Rimes has an incredibly bright outlook and is well-positioned to continue to deliver for its clients. We are grateful to have had the opportunity to partner with such an innovative and talented team and we are confident that they will continue to be successful with the support of Five Arrows.” The transaction is subject to customary regulatory approvals and is expected to close in the coming months.
EQT and Rimes were advised by Evercore (corporate finance) and Latham and Watkins (legal). Five Arrows was advised by Jefferies (corporate finance) and Shoosmiths (legal).
About RimesRimes provides transformative enterprise data management solutions to the global investment community. Driven by our passion for solving the most complex data problems, we provide our clients with investment intelligence that powers more than USD 75 trillion in AUM annually. The world’s leading institutional investors, asset managers and service providers rely on Rimes to help them make better investment decisions using accurate information and industry-leading technology. For more information, please visit www.rimes.com.
About Five ArrowsFive Arrows is the alternative assets arm of Rothschild & Co and has EUR 26 billion AuM with offices in Paris, London, New York, Los Angeles, San Francisco and Luxembourg. With over EUR 9 billion of assets under management, the corporate private equity business of Five Arrows is focused on investing in companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology–enabled business services and healthcare. For more information, please visit www.rothschildandco.com/en/five-arrows/corporate-private-equity
About EQTEQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 130 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.
More info: www.eqtgroup.com

View original content:https://www.prnewswire.co.uk/news-releases/five-arrows-acquires-rimes-from-eqt-302111843.html

Continue Reading
Advertisement

Artificial Intelligence

Stefanini Group Appoints Farlei Kothe as CEO for NA, EMEA, and APAC Regions

Published

on

stefanini-group-appoints-farlei-kothe-as-ceo-for-na,-emea,-and-apac-regions

BRUSSELS, Oct. 10, 2024 /PRNewswire/ — Stefanini Group, a global tech multinational that assists customers in their digital transformation, has appointed Farlei Kothe as the CEO for the NA, EMEA, and APAC regions. With over 15 years of experience at Stefanini, Farlei Kothe’s leadership aims to drive efficiency and strengthen Stefanini’s market position across key regions.

Stefanini aims to integrate its teams across these regions, ensuring seamless collaboration and operational excellence. By uniting resources, the company wants to offer a unified, consistent client experience. “Our focus is to drive results. We are aligning our teams across the NA, EMEA, and APAC regions to break down silos and strengthen Stefanini’s position as a unified, globally competitive organization,” said Farlei Kothe, CEO Officer for the NA, EMEA, and APAC regions.
Stefanini leverages AI and automation to enhance operations, decision-making, and efficiency across regions.
“AI and automation will revolutionize how we operate, driving rapid innovation, improving client services, and streamlining our global operations. We’re on a mission to standardize essential processes and crank up efficiency through smart automation” Farlei Kothe emphasized.
Stefanini is taking bold steps to centralize management, strengthen cross-regional communication, and implement advanced digital tools to optimize collaboration. These shifts will eliminate redundancies, accelerate decision-making, and improve response times for clients across different regions. Clients can expect more consistent services, faster resolutions, and access to a broader range of global resources, all while maintaining local support.
“Farlei has the expertise and entrepreneurial spirit to unify these critical regions and ensure we continue delivering unparalleled value to our clients. They will benefit from a unified approach, gaining access to a wider range of global resources while still receiving localized support,” said Marco Stefanini, Founder and Global CEO of Stefanini Group.
In the short term, the company expects operational costs to decrease, while in the longer term, Stefanini aims for stronger client relationships, improved brand unity, and revenue growth driven by innovative solutions.
About Stefanini
Stefanini is a global tech multinational originating from Brazil, with more than 35 years of experience in the market and a presence in 41 countries. The company invests in a comprehensive innovation ecosystem to support key industry verticals and assist customers in their digital transformation. With robust offerings aligned with market trends such as AI, automation, cloud, Internet of Things (IoT), and User Experience (UX), the company has received multiple awards and recognition in the field of innovation. 
Logo – https://mma.prnewswire.com/media/2053451/Stefanini_Group_Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/stefanini-group-appoints-farlei-kothe-as-ceo-for-na-emea-and-apac-regions-302273028.html

Continue Reading

Artificial Intelligence

Northern Data Group Announces Third Quarter 2024 Earnings Conference Call

Published

on

northern-data-group-announces-third-quarter-2024-earnings-conference-call

FRANKFURT, Germany, Oct. 11, 2024 /PRNewswire/ — Northern Data AG (ETR: NB2) (‘Northern Data Group’ or ‘the Group’ ), a leading provider of AI and high-performance computing (HPC) solutions, today announces that it has scheduled its third quarter 2024 earnings conference call for Thursday, October 17th, 2024, at 4:00 P.M. CET.

During the call, management will discuss its operations and the financial results for the quarter ended September 30, 2024.
This conference call will be available through an audio webcast. Please use this link to register.
Additionally, analysts can join the conference call using their local dial-in number:
Germany Toll-Free: +49 800 0009712United Kingdom/International Toll-Free: +44 800 358 1035United States Toll-Free: +1 855 979 6654Global dial in numbers can be found here
Access code required: 183303
A replay of the conference call will be available through the Investor Relations section of the Northern Data Group website at Publications (northerndata.de)
 
About Northern Data Group:
Northern Data Group (ETR: NB2) Northern Data Group is a leading provider of AI and High-Performance Computing (HPC) solutions, leveraging high-density, liquid cooled, GPU-based technology to empower the world’s most innovative organizations. Together with our partners, we are passionate about the potential of HPC to drive not only technological advancements but also societal progress.

View original content:https://www.prnewswire.co.uk/news-releases/northern-data-group-announces-third-quarter-2024-earnings-conference-call-302273429.html

Continue Reading

Artificial Intelligence

At World Fibre Conference, YOFC Unveils Next-Gen Intelligent Networks for the AI Age

Published

on

at-world-fibre-conference,-yofc-unveils-next-gen-intelligent-networks-for-the-ai-age

SHANGHAI, Oct. 11, 2024 /PRNewswire/ — At the 2024 World Optical Fibre & Cable Conference held in Shanghai on October 10th, Yangtze Optical Fibre and Cable Joint Stock Limited Company (YOFC), showcased its leadership in optical technology. YOFC, renowned for its extensive work in the R&D and manufacturing of optical preform, fibres, optical cables, and data communications products, has been a principal partner of this event for many years. ZHUANG Dan, Executive Director and President of YOFC, attended the conference and delivered a keynote speech titled “Accelerating the Construction of New Optical Networks in the AI Era and Building a New Chapter of Intelligent Future.” He also engaged in a roundtable discussion with senior executives from international giants such as Europe-based Prysmian and US-based Corning, exploring key industry topics in the AI era and discussing the future of the sector.   

Mr. Zhuang discussed how AI is driving a global scientific and technological revolution, ushering society into a new era of intelligence. The transition is characterized by a dramatic surge in data traffic and increased computational needs, placing greater demands on the infrastructure supported by fibre optic networks. Concurrently, with the advancement of AI technology and the rapid evolution of fibre and cable technology, numerous new fibre products are being developed and introduced to the market. These innovations are designed to enhance various types of network infrastructure and proactively shape an intelligent future.
Specifically, innovative fibres featuring miniaturization, high-density, and anti-bending capabilities can significantly support the evolution of fixed networks towards higher density and speed, enabling the transition from Gigabit to 10 Gigabit. Additionally, advanced fibres with large bandwidth, low-loss, and low-latency properties are vital for rolling out new generations of mobile networks, such as 5G-A and soon 6G. These fibres are not just enhancing mobile networks but are also essential for data centers, where they support massive data flows by providing high-density, low-latency, and energy-efficient optical interconnections. Additionally, the role of submarine cables, which boast large capacity, extended reach, and superior stability, remains indispensable in building the backbone of the global communication network.
Amidst these technological shifts, YOFC has capitalized on the opportunities presented by AI innovations. The company recently unveiled its i-Fibre series, which stands out for its ultra-large capacity, minimal loss, and low latency, combined with integrated sensing, communications capabilities, and environmentally friendly features. Through this initiative, YOFC is aiming to provide robust infrastructure support necessary for building an intelligent future.  
Notably, YOFC’s G.654.E fibre stands out with ultra-low attenuation. It combines a low non-linear effect (large effective area) with a small attenuation coefficient, significantly extending transmission distances. These features make it a preferred choice for 800G and 1.6T ultrahigh-speed transmission in the AI era. Since initiating the R&D of the fibre in 2010, YOFC has achieved a leading position in the global market, deploying more than one million fibre kilometers of this cutting-edge product. With a substantial market presence in China, the company has notably impacted infrastructure projects for major telecoms and utility providers including China Mobile, China Telecom, China Unicom, and the State Grid Corporation of China, and has expanded its influence to projects in the Philippines, Brazil, and beyond.  
To meet the demand for ultra-large bandwidth and high-speed interconnections in data centers, particularly within intelligent computing networks, YOFC has rolled out next-generation high-end multimode fibres, including the OM4 Ultra and OM5. These fibres have been widely adopted in numerous large data centers worldwide, driving intelligent computing into a new era of high efficiency and environmental responsibility.
Additionally, YOFC remains committed to the R&D of next-generation mainstream fibres, such as space division multiplexing (SDM) fibres and hollow-core fibres. SDM fibre, which can increase the transmission capacity of a single fibre by tenfold, is engineered to satisfy the needs for ultra-large capacity and ultra-high density connectivity in the AI era. YOFC has ramped up to mass production, supported by comprehensive in-house capabilities for developing key raw materials and an array of production and testing equipment. The company is actively conducting pilot tests with operators to refine these advancements.
Furthermore, YOFC is pioneering in hollow-core fibre technology, which offers substantial advantages over traditional solid-core fibres by significantly reducing latency and attenuation while boosting capacity. This is particularly beneficial for applications that require minimal latency, such as long-distance communications and data center interconnections crucial for powering extensive AI models. With robust in-house research and collaborative efforts with both domestic and international carriers and data centers, YOFC is not only advancing technology but also solidifying its leadership in the field, accumulating valuable engineering experience and showcasing its industrial expertise.
Sir Charles Kuen Kao, who invented fibre optics, famously declared that this technology would dominate for 1,000 years. Echoing this sentiment, Mr. Zhuang pointed out that the current data and computation surge in the AI era is catalyzing swift advancements and industrial improvements within the industry. According to CRU’s latest forecast, the global fibre and cable market is anticipated to experience an average annual growth rate of 4.6% by 2028, with Asia-Pacific, Africa, and North America exceeding 5%. These figures signal a robust future growth phase for the sector.
Since its establishment in 1988 and the commencement of operations in 1992, YOFC has been committed to connecting every corner of the world with optical fibres. The company has delivered over 1 billion core kilometers of fibres, operating in more than 100 countries and regions while serving over 3 billion people. YOFC has also reduced its carbon footprint by 9.25 million tons and contributed to increasing the global penetration of fibres. On its journey to harness the power of light, YOFC remains steadfast. As Mr. Zhuang indicated, YOFC will stay true to its mission of continuously innovating, and developing more advanced, reliable, and premium products and solutions. In collaboration with industry peers, the company seeks to accelerate the construction of next-generation fibre networks in the AI era, collectively envisioning a grand blueprint for an intelligent future.
Photo – https://mma.prnewswire.com/media/2528416/image_5006683_6590746.jpg

View original content:https://www.prnewswire.co.uk/news-releases/at-world-fibre-conference-yofc-unveils-next-gen-intelligent-networks-for-the-ai-age-302273798.html

Continue Reading
Advertisement
Advertisement

Latest News

Trending