The Real Estate industry is a daunting and often demanding industry full of nuances and rules that could often go over a person’s head. It takes a professional partnership with a credible Real Estate firm to keep the ground running. Fortunately, King Real Estate Group is here to provide all its clients’ needs and beyond.
King Real Estate Group was founded by Real Estate professional Steve Haddadin in 2019. The company is a Full-Service Real Estate Firm with a goal to represent its clients’ best interests by providing the best possible advice to fulfill their Real Estate needs. The company is equipped with a transparent system that makes sure that its clients are satisfied.
Furthermore, the company goes above and beyond to educate its clients every step of the way, helping them gain the necessary knowledge to make their own decisions in the future. In today’s economic environment, it is crucial to offer a host of services and solutions that will not only meet but will exceed the clients’ goals as they continue to navigate the increasingly competitive Real Estate market.
King Real Estate Group has a team of experienced and talented professionals who consistently deliver Real Estate solutions that enhance the value of its clients’ Real Estate assets. The company’s experience extends from local to national markets, allowing it to provide the best services possible for people from different walks of life.
The company’s services range from Residential Sales, Commercial Sales, Mortgage Assistance, Portfolio Management, Tenant Representation, Consulting Services for Business and Store Acquisitions, and many more. Corporations, executives, and self-employed individuals will greatly appreciate the high-quality services that King Real Estate Group provides as the firm focuses on luxury residential homes and investment Real Estate.
It has a diverse base of experience and a host of services and solutions in the Real Estate industry that sets it apart from all the other firms out there. “Everything is hands-on. We keep our clients informed every step of the way,” said founder Steve Haddadin.
In the near future, King Real Estate Group seeks to expand its services by building a larger team and acquiring more offices all over the nation. The company hopes to expand all across Southern California, helping more and more individuals in the process. The firm is positioning itself to become the center of major Real Estate in Southern California, and the developments towards that goal will not be stopping any time soon.
The success of the firm is also the success of its clients, and as King Real Estate Group continues to operate within its pattern of success, the growth and development of the company and its clients will continue to bloom towards a better future of financial success. The firm has been operating on a completely different level from the rest, and if it manages to keep the momentum going, it’s only a matter of time before it becomes the best Real Estate company in the world.
To know more about King Real Estate Group, check out the information below.
Microsoft-Specializing IT Firm to Enhance Office 365 Products and Services
Connected Solutions Group, LLC (CSG), a national leader in wireless hardware deployment and services, today announced that it has added 12:34 MicroTechnologies, Inc. as their latest Strategic Solutions Partner (SSP). CSG’s SSP program is designed to integrate companies with specific areas of expertise with CSG’s channel offerings in order to maximize the customer’s experience and satisfaction.
12:34 MicroTechnologies, a Pennsylvania-based company founded in 1998, is a national leader offering sales, professional services, and managed services for Microsoft cloud services, Microsoft Office 365, and Azure. From software implementations, migrations, support, and proactive managed services, 12:34 is a full-service IT firm for Microsoft’s wide-ranging products and services.
“This partnership is a huge win for our customers and Verizon customers in so many ways,” said Michael Pittman, CEO at CSG. “Alejandro and his team at 12:34 are some of the most professional people we’ve met in the IT realm, and we’ve seen a huge demand for these services from Verizon teams around the country.”
With Verizon selling business customers a wide range of Microsoft product licenses, Pittman saw the need for a partner who could step in to handle the complex migrations and implementations of the software.
“This was the missing puzzle piece to the offering and the feedback from the customers and Verizon reps has been tremendous,” Pittman said. “The addition of 12:34’s services to the sale of these Microsoft products is often the deciding factor for the customer to move forward.”
Alejandro Rosado, who started 12:34 in 1998 is equally enthusiastic about teaming up with the team at CSG. “Culturally, our two companies are a great fit together,” said Rosado. “As we learned more about CSG’s place in the market, its relationship with Verizon, and its ability to market our services to their customers, it became incredibly obvious that this was a fantastic opportunity for all of us.”
CSG has been quickly growing its SSP lineup over the past several quarters as they scale to offer more of the services needed by its constantly growing customer base. The company’s goal is to fully live up to its name and offer all the connected solutions that its customers require, often through SSP partners bringing specialized expertise.
“It’s another step in our constant evolution to make sure we are offering all of the products and services that Verizon business customers need,” said Pittman. “We’re looking forward to spreading the word about this service to our partners at Verizon. The feedback we’ve gotten so far has been tremendous and we know it will be a huge win for the Verizon reps who regularly have customers with this need.”
About Connected Solutions Group
Connected Solutions Group, LLC (CSG) is a Richmond, Virginia-based leading VAR and wireless hardware deployment company. By bridging the wide gaps between development and deployment of M2M and IoT projects, CSG has created a true turnkey solution allowing customers to focus on building their applications while we design and implement cost-effective hardware to execute them efficiently. With services including MDM installation and support, custom programming, device staging and kitting, nationwide installation, and device activations, swaps and upgrades, CSG acts as the purchasing, fulfillment and installation team for our clients. Learn more at http://www.connectedsolutionsgroup.com.
Exclusive partnerships cement RescueAir’s leadership position in the Firefighter Air Replenishment System (FARS) Industry.
Rescue Air Systems, the world’s leading designer and manufacturer of firefighter air replenishment systems (FARS), recently signed product development agreements with five of the leading breathing air equipment manufacturers serving the fire service: Arctic Compressor, EMNET, Eagle Air Breathing Air Systems, Hydraulics International, and Lifeline Firehose.
The agreements represent a strategic alliance between six of the country’s top innovators in fire safety, compressed air equipment, and air delivery systems, and expands RescueAir’s leadership position beyond the FARS industry. Together, the parties will improve existing products, develop new technologies, and manufacture and distribute new products that support life safety for the fire service, business, and industry.
Under the agreements, the partners will each retain sole manufacturing rights. FARS product distribution will flow exclusively through RescueAir’s existing network of certified installers. That network is comprised by dozens of mechanical and fire protection companies across the United States, all of which are currently licensed to use RescueAir technology.
“This is an important step forward for firefighter safety and for our company,” said RescueAir CEO Anthony J. Turiello. “Like us, each of the partners has a track record of innovation, developing products that have become industry standards. Nearly 20 years ago, RescueAir developed and brought to market the world’s first budling-installed breathing air replenishment system for firefighters, a standpipe for air that eliminated the need to hand-carry replacement air bottles up numerous flights of stairs in a high-rise, or deep into large horizontal structures. FARS are now required by code in 20 states, and the number is growing. In collaboration with our five industry partners, we are uniquely positioned to bring smarter, faster, safer, and more efficient products to the fire service, broaden our product line, and continue our commitment to using technology to improve and enhance life safety.”
“ENMET was pleased to be selected as the breathing air monitoring component of the RescueAir Firefighter Air Replenishment Systems (FARS) requirement,” said ENMET President Norman Davis. “Our collaboration with RescueAir to build a custom monitoring product produced a world-class solution to make cities safer.”
Hydraulics International President Bahman Seifollahi echoed the long term positive impact of the partnership. “RescueAir has been working in collaboration with Hydraulics International for over a decade,” he said. “Working together, the Hydraulics International and RescueAir teams have created a unique, system-critical solution for the FARS market which will be a reliable component of the RescueAir FARS system for decades to come. We are excited to be RescueAir’s partner in supporting the life-saving work of first responders.”
ABOUT RESCUE AIR SYSTEMS/FARS Rescue Air Systems is the world’s leading provider of firefighter air replenishment systems (FARS). Founded in 1993, the company was borne out of the ashes of the First Interstate Bank Building fire, one of the most devastating high-rise fires in California history. Hand carrying replacement air bottles to firefighters on upper floors was identified as a major strain on manpower and a serious obstacle to fighting that fire. As a solution, Company founder Anthony Turiello envisioned a building-installed air standpipe system that would deliver air the same way water standpipes deliver water. His innovation, FARS, is a faster, safer and more reliable method for the delivery of life-sustaining air. Today, FARS are required by code in 20 states. Code standards for FARS can be found in the ICC International Fire Code Appendix L. rescueair.com
ABOUT ARCTIC COMPRESSOR/Emergency Air Fill Panels For more than 30 years, Arctic Compressor has produced and manufactured air compressors that consistently exceed customer expectations. Their customers include federal, state, military, municipal and private fire departments. Arctic Compressor prides itself on being the simple choice for top distributors of fire equipment throughout the country because of their commitment to safety and reliability — where results speak for themselves. Their product portfolio includes fill stations, control panels, cascade systems and carbon monoxide monitors. arcticcompressor.com
ABOUT EMNET/Air Monitoring Since it was founded in 1970 as Environmental Metrology Corporation, ENMET has been at the forefront of creative gas detection solutions. Meeting the needs of an extremely diverse market over the years, ENMET has earned a reputation for its ability to accommodate specialized applications, providing gas detection solutions with quality products and services that conform to specific customer requirements. ENMET’s focus is to provide innovative solutions utilizing sound engineering and quality manufacturing practices that meet ISO 9001-2015 and AS9100D-2016 requirements. enmet.com
ABOUT EAGLE AIR BREATHING AIR SYSTEMS/ Rupture Containment Air Fill Stations EagleAir boasts a longstanding commitment to safety and innovation. In business since 1973, the Company has manufactured breathing air systems that meet or exceed the highest industry standards. Many of EagleAir’s innovations have become industry standards and have improved firefighter safety, including their containment design fill stations and single-appliance breathing air systems. For more than 40 years, they have manufactured high pressure breathing air systems for recharging SCBA and SCUBA cylinders. Their national distributor network includes only top-quality businesses with the necessary assets to serve their regional markets. eaglecompressors.com
ABOUT HYDRAULICS INTERNATIONAL/Air Storage Systems Hydraulics International, Inc. (HII) is a leading manufacturer and supplier of air, electric, hydraulic, and manually driven high-pressure products. They produce 85% of their products internally, thus eliminating dependency on outside sources for quality, reliability, and expediency. Because of their self-sufficiency, they are able to maintain key competitive advantages that include faster response times to engineering and design problems, and reliability of components critical to functionality. hiigroup.com
ABOUT LIFELINE FIREHOSE/Breathing Air Delivery Systems Lifeline Firehose is a new, revolutionary, patented system that offers unlimited breathable air to firefighters. The Lifeline Firehose uses patented coupler design technology to deliver both breathable air for respiration and water for fighting fire, utilizing the buddy breather at the end of the nozzle. lifelinefirehose.com
Debra Hall Rescue Air Systems +1 650-654-6000 Visit us on social media: Facebook Twitter
RChilli has recently added more languages to its Search & Match Engine. These new languages are Portuguese, Dutch, Turkish, and Russian.
Keeping up its promise to provide excellent multilingual support, RChilli has recently added more languages to its Search & Match Engine. These new languages are Portuguese, Dutch, Turkish, and Russian.
It is great news for RChilli users because they can now find matches quickly and easily with enhanced multilingual search. This new addition of languages makes Search & Match Engine more capable of bringing remarkable results.
RChilli Search and Match Engine helps the users search & match resume/jobs with great relevancy and get the perfect candidate through normalized and enriched data. It supports searching in multiple languages. It automatically identifies the languages of the Resume/JD and extracts the information. There is no separate configuration required.
Apart from the new addition, the Search and Match Engine supports the following languages:
English Spanish German French Polish Italian
Talking about this amazing progress, Paramdeep Singh-Head of Marketing, said, “We are happy to share that we have implemented four new languages in our System . RChilli is committed to delivering a remarkable user experience with its best-in-class services. Our team is continuously working on adding new languages to our products and making it easier for our users to find the right match. Soon, we will introduce more languages in engine.
About RChilli RChilli is the trusted partner for parsing, matching, and data enrichment, providing companies, in 37+ countries, with solutions built for the future of technology and recruiting. RChill’s innovative products, backed by an industry-leading tech stack, power the processing of 3.5+ billion docs a year for 1,700+ employers and top global recruiting platforms. Enabling companies to hire better talent faster since 2010, RChilli is ISO 27001:2013 certified and GDPR compliant.
Women in CyberSecurity is offering hands-on cyber training through real-world simulations in its Cyber FastTrack program.
Women in CyberSecurity is offering hands-on cyber training through real-world simulations in its Cyber FastTrack program.
Cyber FastTrack is a quick and affordable path to successful cyber-based careers. Participants receive free access to train with the highly regarded CyberStart game, which was created by SANS Institute experts and includes more than 200 fun security challenges. The gamified learning platform teaches students about Python, social engineering, SQL injection, cryptography and more. Beginners can use CyberStart to build their skills from scratch while experienced players can hone their craft through advanced levels.
This preparation allows participants to access scholarships, advanced training and certification. This experience also will help boost their resumes for potential employers.
“The National Cyber Scholarship Foundation values our relationship with WiCyS. This collaboration is focused on a critical national imperative — identifying, nurturing and empowering the next generation of experts to eliminate the cybersecurity skills gap in the United States,” said David Brown, executive director of the National Cyber Scholarship Foundation.
This program will launch on Oct. 27 to U.S. residents. WiCyS Student Chapter members are eligible to receive a free license to participate. To connect with the local student chapter president or start a student chapter, email info@WiCyS.org. Register for the “Scholarships and Free Cybersecurity Training for College Students through Cyber FastTrack” webinar on Nov. 1 at 1pm CT. For additional information and to register, visit https://www.brighttalk.com/webcast/17216/513462
About WiCyS: Women in CyberSecurity (WiCyS) is the premier nonprofit organization with international reach dedicated to bringing together women in cybersecurity. Founded by Dr. Ambareen Siraj from Tennessee Tech University through a National Science Foundation grant in 2013, WiCyS offers opportunities and resources for its members and collaboration benefits for its sponsors and partners. The organization’s founding partners are Cisco, Facebook and Palo Alto Networks. Strategic partners include Tier 1: Amazon Web Services, Bloomberg, Carnegie Mellon University – Software Engineering Institute, Cisco, Facebook, Google, Lockheed Martin, Microsoft, Optum. Tier 2: Abbvie, JPMorgan Chase & Co., Linkedin, Navy Federal Credit Union, Nike, SentinelOne, Wayfair, Workday. Tier 3: Fortinet, Haystack Solutions, HERE Technologies, Home Depot, IBM, MITRE, Palo Alto Networks, SANS Institute, Smoothstack, Starbucks, Target. To partner, visit https://www.wicys.org/support/strategic-partnerships/.
Hilton Head Island event will include demos of the automotive app’s latest high-tech updates.
As the Grand Motoring Film Festival prepares for its fifth annual celebration of the automotive and cinematic arts, it is proud to once again welcome presenting sponsor MonroneyLabels.com.
“MonroneyLabels.com has been a tremendous supporter of the festival since its inception,” said Grand Motoring Film Festival Founder Guy Smith. “We’re grateful for all they’ve done to make this festival a success and thrilled to welcome them back for our fifth year.”
The popular event, held in conjunction with the Hilton Head Island Concours d’Elegance, has grown larger and more exciting each year, hosting award-winning automotive feature films and shorts from around the world. This year’s festival is a throwback thrill ride of 1980s flair, with short films that capture the synth-driven soundtrack of the decade and feature film, “The Secret Race Across America,” celebrating the famous Cannonball Run.
As a valuable partner to the festival, MonroneyLabels.com will be on hand with demonstrations of their newly updated app during the reception. A vital tool to anyone buying or selling a car, the app allows you to scan a car’s VIN number plate and instantly see a reproduction of their car’s Monroney Label window sticker, with vital information like factory options and pricing. It’s the quickest and easiest way to know everything you need about a vehicle, all in the palm of your hand.
This year’s Grand Motoring Film Festival will be held from 5 – 9 p.m. November 4 at the Arts Center of Coastal Carolina. Tickets are $55 and include a red-carpet reception, static displays of classic cars and heavy hors d’oeuvres. Tickets and more information available at http://www.grandmotoring.com.
Event Sponsors Include: MonroneyLabels.com, Hilton Head Capital Partners, RM/Sotheby’s, RE/MAX Island Realty – Witman & Gataveckas, Thunderbird Inn, and Hagerty.
DesignRush issued the third quarterly list of top app design and development companies that provide specialized services, including app design and development, iOS and Android development, app consulting and more.
In Q3 of 2021, users spent $34 billion on apps and games, which is a 20% increase year-over-year. As the demand continues to grow, an increasing number of businesses are looking to capitalize on this engaged market and get into the app business.
DesignRush, a B2B marketplace connecting brands with agencies, has released its third quarterly list of the top app design & development experts to work with in 2021.
These companies and agencies specialize in various technologies and services, including:
The top-ranking app design and development companies in the third quarter of 2021 are:
Aalpha Information Systems – aalpha.net
Applify Tech – applify.co
Beezer – beezer.com
Biz4Solutions – biz4solutions.com
Borne Agency – borneagency.com
Cloud Solutions – cloudsltns.com
Code Inspiration – codeinspiration.pro
CognitiveClouds – cognitiveclouds.com
Evolution Labs – theevolutionlabs.com
Exaud – exaud.com
GTM Plus – gtm-plus.com
Infosparkles IT Solutions – infosparkles.com
Inkyy – inkyy.com
KitelyTech – kitelytech.com
Lava X Technologies – lavax.co
MobMaxime – mobmaxime.com
On The Spot Development – onthespotdev.com
Rootstack – rootstack.com
SAM WEB STUDIO – samwebstudio.com
Skookum Films – skookum-films.com
Suria International Service – suriainternational.com
Tribe Global – tribeglobal.net
Uptech – uptech.team
ValueCoders – valuecoders.com
Brands can explore the top app design and development companies by location, size, average hourly rate and portfolio on DesignRush.
About DesignRush:
DesignRush.com is a B2B marketplace connecting brands with agencies through expert reviews and agency ranking lists, awards, knowledge resources and personalized agency recommendations for vetted projects.
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, WITHIN OR INTO THE UNITED STATES, THE UNITED KINGDOM, CANADA, JAPAN, AUSTRALIA, HONG KONG, NEW ZEALAND, SINGAPORE, SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, DISTRIBUTION OR RELEASE WOULD BE CONTRAVENING TO ANY APPLICABLE RULES. ADDITIONAL RESTRICTIONS ARE APPLICABLE, PLEASE SEE “IMPORTANT INFORMATION” IN THE END OF THIS PRESS RELEASE. Smart Eye Aktiebolag (publ) (“Smart Eye” or the “Company”) has today entered into an agreement with the shareholders of iMotions A/S (“iMotions”) to acquire 100 percent of the shares in iMotions (the “Acquisition”) for a consideration corresponding to an enterprise value of iMotions of SEK 400 million based on iMotions’ financial position as of 31 December 2020 (the “Consideration”), excluding a potential earn-out consideration of SEK 50 million. iMotions is a provider of multimodal software for human behavior research with offices in Copenhagen, Boston, Singapore and Berlin. Approximately SEK 200 million will be paid in 1,019,493 newly issued shares in Smart Eye (the “Consideration Shares”) and the remainder will be paid in cash. Smart Eye’s Board of Directors will resolve to issue the Consideration Shares based on an authorization expected to be resolved on by an extraordinary general meeting planned to be held on 12 November 2021 (the “EGM”). Smart Eye’s Board of Directors also intends to explore the conditions to carry out a new share issue of approximately SEK 200 million directed to Swedish and international institutional investors through an accelerated bookbuilding procedure conducted by Carnegie Investment Bank AB (publ) (the “Directed Share Issue”).
The Acquisition in Brief
The Consideration for 100 percent of the shares in iMotions based on iMotions’ financial position as of 31 December 2020 corresponds to an enterprise value of iMotions of SEK 400 million.
Approximately SEK 200 million will be paid in 1,019,493 new Smart Eye shares, all of which are to be issued upon closing of the Acquisition.
The remaining consideration of approximately SEK 200 million will be paid in cash upon closing of the Acquisition.
Combining Smart Eye’s advanced eye tracking and emotion AI technologies with iMotions’ innovative, multiple-sensor data collection and analytics software to create a powerhouse in human behavioral research and analysis offering an end-to-end, multi-modal approach to analyzing complex human behaviors and delivering holistic human insights.
Incorporating iMotions’ software solution will enhance and future-proof Smart Eye’s offering in the automotive sector by providing a platform that combines multiple sensor modalities to offer better insights.
The Acquisition will also expand Smart Eye’s offering within Research Instruments into the multimodal research market.
iMotions’ revenue reached approximately SEK 95 million during the twelve-month period ending 30 September 2021, with gross and EBITDA margins of 71 and 11 percent, respectively[1].
Smart Eye’s Board of Directors intends to explore the conditions to carry out a new issue of shares in Smart Eye of approximately SEK 200 million through an accelerated bookbuilding procedure conducted by Carnegie Investment Bank AB (publ), which intends to be directed to Swedish and international institutional investors.
The Directed Share Issue is intended to partly be based on the share issue authorization from the annual general meeting held on 14 April 2021, and partly by way of the Board of Directors resolving on the remainder of the shares to be issued following approval by the EGM expected to be held on 12 November 2021.
Mats and Martin Krantz as well as Anders and Linda Jöfelt, who together hold approximately 17 percent of the shares in Smart Eye have undertaken to vote in favor of the resolution to approve the part of the Directed Share Issue that is subject to the EGM’s approval at the EGM. In addition, large shareholders who jointly hold approximately 25 percent of the shares in Smart Eye have expressed their intention to vote in favor of the resolution at the EGM.
The final outcome of the Directed Share Issue will be announced before the commencement of trading on Nasdaq First North Growth Market on 27 October 2021.
Notice to the EGM, expected to be held on 12 November 2021, to authorize the Board Of Directors to resolve to issue the Consideration Shares to be paid on closing of the Acquisition will be published in a separate press release.
Closing of the Acquisition is expected to take place before the end of November 2021.
In the coming decade, we are going to see an expansion of human behavioral research utilizing multimodal approaches, and the addition of iMotions and its multi-sensor integration software gives us the tools to unlock increased value for Smart Eye’s customers, particularly in the automotive industry. The future is multimodal with technological advances likely to make it easier, faster and more cost-effective to understand what’s driving human behavior and decision making. With iMotions, we’re adding multimodal analysis software to our advanced eye tracking and facial expression analysis platform.
Martin Krantz, CEO and Founder of Smart Eye
Smart Eye and iMotions have shared visions for eye tracking and multimodal research for many years. In Smart Eye we have the ideal partner to further invest in the vision to accelerate human behavior insights, driving transformation that will fuel our customers’ successes across commercial industries, as well as for academic researchers. Together, we will work on long-term strategies that will benefit our partners and open the best opportunities for our employees. It’s going to be exciting to collaborate closer based on our shared values and culture.
Peter Hartzbech, CEO and Founder of iMotions
Background and Reasons
With its strong position in the field of Human Insight AI, Smart Eye will couple its advanced eye tracking and Emotion AI technologies with iMotions’ innovative, multiple-sensor data collection and analytics software to create a powerhouse in human behavioral research and analysis, an end-to-end, multimodal approach to analyzing complex human behaviors and delivering holistic human insights.
iMotions has more than 15 years of experience developing and delivering a solution that in real-time integrates data streams from more than 50 biosensors, as well as other explicit measures, into a single research platform that provides a deeper, more comprehensive understanding of human behavior.
With iMotions, research teams are able to expand beyond single technology analysis and streamline data from multiple modalities such as eye-tracking, facial expression analysis, sweat gland activity, brain activity, heart rate, field surveys, focus groups and more. Integration with Smart Eye’s eye-tracking and facial expression analysis will power iMotions’ product innovation that makes nonconscious human behavioral research more accessible, scalable, and insightful.
Incorporating iMotions’ software solution will enhance and future-proof Smart Eye’s offering in the automotive sector by providing a platform that combines multiple sensor modalities to offer better insights. In the evolving Interior Sensing market, cameras and sensors are turned inward to understand what is happening inside a vehicle, where advanced AI, computer vision and other sensing modalities are applied to measure the state of the driver, the cabin and its occupants. To further understand what is happening in a vehicle, and specifically to understand complex human behavior in challenging environments, a multimodal approach will be required, synchronizing high-quality multiple sensor data and providing integrated analytics for holistic insights. The acquisition of iMotions, and integration of iMotions’ technology into Smart Eye’s Interior Sensing solution, will improve the ability to understand what is happening inside a vehicle and translate data into actionable insights.
iMotions brings more than 1,300 customers worldwide across academia and commercial verticals, including 55 of the World’s Top 100 universities, according to QS World University Ranking. For iMotions, Smart Eye provides an entry point into Asia-Pacific markets. Following the Acquisition, iMotions will be a wholly owned subsidiary of Smart Eye and continue to be independently operated.
Consideration
The Consideration for 100 percent of the shares in iMotions corresponds to an enterprise value of iMotions of SEK 400 million, based on iMotions’ financial position as of 31 December 2020. The Consideration consists of the Consideration Shares and a cash payment.
The value of the Consideration Shares amounts to approximately SEK 200 million. The price per Consideration Share is based on Smart Eye’s volume weighted average price (“VWAP”) on Nasdaq First North Growth Market for the trading days since 9 August 2021 excluding today’s trading, equal to SEK 197.3931 per share.
The Consideration Shares is planned to be paid through an initial issuance of 1,019,493 shares upon closing of the Acquisition. A maximum of SEK 50m in earn-out cash consideration dependent on iMotions meeting pre-determined targets on gross profit and EBITDA before capitalization of development costs for 2021 and 2022. Up to 25 percent of the earn-out cash consideration is dependent on meeting the 2021 targets and up to 75 percent of the earn-out cash consideration is dependent on meeting the 2022 targets.
The issue of the Consideration Shares is subject to the EGM granting the Board of Directors an issue authorization to issue the Consideration Shares and the Board of Directors utilizing such authorization. The notice to the EGM will be announced in separate press release and is expected to be held on 12 November 2021.
The Directed Share Issue
To fund the cash component of the Consideration, Smart Eye’s Board of Directors intends to explore the conditions to carry out a directed new share issue of approximately SEK 200 million. The Directed Share issue is intended to partly be based on the share issue authorization from the annual general meeting held on 14 April 2021, and partly by way of the Board of Directors resolving on the remainder of the shares to be issued following approval by the EGM expected to be held on 12 November 2021.
The Directed Share Issue will be carried out through an accelerated bookbuilding procedure conducted by Carnegie Investment Bank AB (publ). The bookbuilding procedure will commence immediately following the announcement of this press release. Pricing and allocation of the new shares are expected to take place before the trading on Nasdaq First North Growth Market commences at 09:00 CEST on 27 October 2021. The timing of the closing of the bookbuilding procedure, the pricing and the allocation of shares are at the discretion of the Company. The Company may also at any time decide to suspend, shorten or extend as well as to refrain in whole or in part from carrying out the Directed Share Issue. The Company will announce the outcome of the Directed Share Issue in a press release after the closing of the bookbuilding procedure.
The reasons for deviating from the shareholders’ preferential right are to, in a time- and cost-effective manner raise necessary capital to carry out the acquisition of iMotions. Thus, Smart Eye’s Board of Directors assess that the reason to carry out the Directed Share issue with deviation from the shareholders’ preferential rights overweighs the principal rule that new share issues shall be carried out with preferential rights for existing shareholders and that a share issue with deviation from the shareholders’ preferential rights is most favorable for Smart Eye and its shareholders. As the subscription price in the Directed Share Issue will be determined through a bookbuilding procedure, it is the Board of Directors’ assessment that the subscription price will reflect current market conditions and demand.
Lock-up
In connection with the Directed Share Issue, the Company’s CEO and Founder, Martin Krantz, Board Member and Founder, Mats Krantz, and Chairman of the Board, Anders Jöfelt, have entered into a 720 days lock-up for 50 percent of their holdings in Smart Eye and 360 days lock-up for 50 percent of their holdings after the settlement date of the Directed Share Issue. The Company’s CFO, Anders Lyrheden, CTO, Martin Rydberg, and the other members of the Board of Directors have entered into 180 days lock-up after the settlement date of the Directed Share Issue. Furthermore, the Company has agreed to a commitment, with customary exceptions, not to carry out any additional issuances for a period of 180 calendar days after the settlement date of the Directed Share Issue.
The selling shareholders of iMotions have agreed to lock-up undertakings of 12 months for 50 percent of the Consideration Shares and 24 months for 50 percent of the Consideration Shares.
Advisers
Carnegie Investment Bank AB (publ) is acting as financial adviser to Smart Eye in relation to the Acquisition and Sole Global Coordinator and Bookrunner in the Directed Share Issue. Advokatfirman Vinge is acting as legal advisers to Smart Eye. Deloitte has acted as due diligence adviser to Smart Eye in relation to the Acquisition.
For further information, please contact Martin Krantz, CEO Smart Eye Aktiebolag Phone: +46 70-329 26 98 Email: martin.krantz@smarteye.se
About Smart Eye Smart Eye is the global leader in Human Insight AI, technology that understands, supports and predicts human behavior in complex environments. We bridge the gap between humans and machines for a safe and sustainable future. Today, our technology is embedded in next-generation vehicles, leading the way towards human-centric mobility through Driver Monitoring Systems and Interior Sensing solutions. Our Research Instruments offer unparalleled insights into Automotive, Aviation & Aerospace, Assistive Technology, Media & Marketing, Psychology and many more fields. Our subsidiary Affectiva is pioneering Emotion AI, connecting machine logic with human empathy to gain a deeper understanding of how consumers engage with content and products. Smart Eye was founded in 1999 and is headquartered in Sweden with offices in the US, UK, Germany, Egypt, Japan and China. A publicly traded company since 2016, our customers include NASA, Nissan, Boeing, Honeywell, Volvo, GM, BMW, Geely, Harvard University, 70% of the world’s largest advertisers and 28% of the Fortune Global 500 companies. Visit www.smarteye.ai for more information.
Smart Eye is listed on Nasdaq First North Growth Market. Erik Penser is Certified Adviser and can be reached at +46-8-463 8000 or certifieradviser@penser.se.
About iMotions Founded in 2005 and headquartered in Copenhagen with offices in Boston, Singapore and Berlin, iMotions has successfully developed the world’s leading human behavior software solution. The software combines data from +50 sensors – eye tracking, facial expressions, sweat gland activity, brain activity and more – in one easy-to-use software that uniquely and in real-time tracks, aggregates and analyses nonconscious emotional, cognitive and behavioral data providing research teams a deeper, more comprehensive understanding of human behaviors. More than 1,300 organizations around the world – from leading academic institutions to global brands to highly respected healthcare organizations – use iMotions. Customers include worldwide top tier universities, corporations, agencies, government, and military customer segments. iMotions successfully developed the multimodal research market from the eye tracking research market and is today a global SaaS company and leader in the early-stage niche market for multimodal software for human behavior research as well as a knowledge intensive organization with in-depth neuroscience expertise as part of the global organization. For more information, visit iMotions.com.
IMPORTANT INFORMATION
This announcement is not and does not form a part of any offer for sale of securities. Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, Japan, Great Britain, Hong Kong, Singapore, South Africa or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.
The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any securities in the United States or to conduct a public offering of securities in the United States.
This announcement and this offering are only addressed to and directed at persons in member states of the European Economic Area, except for Sweden, (a “Relevant State”) who are “Qualified Investors” within the meaning of Article 2(e) of the Prospectus Regulation. The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Qualified Investors. This announcement should not be acted upon or relied upon in any Relevant State by persons who are not Qualified Investors. For the purposes of this provision the expression “Prospectus Regulation” means Regulation (EU) 2017/1129.
In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, qualified investors (as defined in the Prospectus Regulation as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018) and who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) or (ii) high net worth entities, and other persons to whom this announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “Relevant Persons”). This communication must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
Forward looking-statements
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” “continue”, “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice.
Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Smart Eye have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “Target Market Assessment”).
Notwithstanding the Target Market Assessment, Distributors should note that: the price of the shares in Smart Eye may decline and investors could lose all or part of their investment; the shares in Smart Eye offer no guaranteed income and no capital protection; and an investment in the shares in Smart Eye is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the Directed Share Issue.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares in Smart Eye.
Each distributor is responsible for undertaking its own target market assessment in respect of the shares in Smart Eye and determining appropriate distribution channels.
[1] Based on iMotions’ internal consolidated financial statements for the period.
This information is information that Smart Eye is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2021-10-26 17:35 CEST.
High Temperature (HT) heaters are designed to achieve temperatures higher than 260°C (500°F)
Birk Manufacturing, a leading manufacturer of high-quality flexible heaters and thermal systems, has introduced a High Temperature (HT) Heater. This is a special type of polyimide foil that allows users to achieve high temperatures easily. The foil heaters can achieve higher temperatures than the company’s existing line of Kapton polyimide heaters.
The new High Temperature (HT) Heaters:
Are suited for temperatures required to achieve up to 300°C
Assure even heat distribution and exceptionally fast heat-up and cool down times
Are suited for complex two-dimensional applications
Assure superior heat transfer through heat sinks
Enable easy integration into assemblies such as heat sinks, sensors, probes, and so on
“We understand the thermal challenges faced by our clients in high-temperature applications. This has inspired us to develop High Temperature (HT) heaters. This product fits within our core competences as it has many similarities to our current Kapton polyimide-heaters. Birk’s HT heaters will allow our customers to achieve low mass, high watt densities and reach higher operating temperatures,” said Michael Mattox, CEO, Birk Manufacturing Inc.
Birk Manufacturing’s High Temperature (HT) Heaters can be:
Designed in custom shapes, sizes, and watt densities
Designed with multiple heating zones to ensure uniform heat distribution
Temperature sensor integration can be designed in for product control
Operated in high-vacuum environments
Heaters utilize a unique “all-polyimide” design which eliminates the need for a dielectric/adhesive composite
Birk Manufacturing is an S-Corp and an AS9100, ISO 13485/9001, and ITAR–accredited company that was established in 1989. It is headquartered in East Lyme, Connecticut. The company serves clients across medical, semiconductor, defense, aerospace, transportation, and security industries by delivering energy-efficient and high-quality thermal management and custom turnkey solutions. Birk provides customized heaters that are fully integrated with temperature fuses, sensors, and connectors and then bonded or vulcanized to machined parts.
What is SD-WAN – a definition. SD-WAN (software defined WAN) is an innovation based upon the more comprehensive concept of SDN (software defined networking).
What is SD-WAN – a definition
SD-WAN (software defined WAN) is an innovation based upon the more comprehensive concept of SDN (software defined networking). It enables companies as well as enterprises to set up plans to disperse the network web traffic. The central site of any SD-WAN service has complete control of its sites or workplaces as well as the website traffic which runs via the network, using a Controller. This network Controller is also capable of initiating edge devices on the websites or offices to be set up with zero touch provisioning. One more big benefit that SD-WAN provides is the option to produce an online overlay of the transportation network that is in charge of carrying the website’s traffic data.
What are SD-WAN’s origins
Early in the 2000’s MPLS gradually ended up being the network technology utilized by companies and big enterprises because it was a network supplied by the network providers that offered vital benefits. As the end of the initial decade approached, these exact same big businesses and companies wanted and also required to alter their typical MPLS facilities for numerous reasons. Internet lines (specifically xDSL lines) are becoming more trustworthy as well as they can definitely defeat MPLS on the continually increasing data transfer needs, implementation time as well as cost. Organizations started to examine the options of using normal Internet lines, but they still were to develop adequately to be able to facilitate moving from the currently used MPLS lines to normal Internet connections. That’s when the bases of SD-WAN were set.
A quick introduction into the origins of SD-WAN
As became clear that standard venture networks (MPLS, …) were not likely to be completely valid in the near future, study and also examinations started in finding means to changing the network to be adjusted to the businesses and large organization’s interaction needs. Among these research studies was the project named “clean slate” that had been developed at Stanford University. At the end, the specialists of the Stanford University concluded that the network requires to be dedicated to transferring data, whilst the network management to be controlled centrally from a central site.
With the approach of separating completely data and control layers, the Stanford University researcher’s design of a new technology paradigm grew into what was later to end up being the base today’s SD-WAN technology. As soon as the project investigations reached this conclusion, it became obvious that SD-WAN was the future for modern network configurations that large enterprises and companies would be implementing.
Cybersecurity, an important aspect of SD-WAN
Due to the fact that many of the SD-WAN implementations make use of open public networks on the Internet, security within SD-WAN is of crucial significance. The need is clear that websites require take care of vital business information, commonly handled by cloud applications and similar web solutions, internet surfing, as well as providing the accessibility of site visitors to the network, with their website traffic originating from diverse sources on the web or in the cloud. Furthermore, one of the fundamental of SD-WAN is that we know that there is a need for two basic levels: the network control level as well as information level and both require to be secured.
Some SD-WAN suppliers have a safety and security option that integrates, device protection overlay safety protection and cloud security.
First of all, there is the device protection, based on a Level 7 firewall program with LAN as well as WAN encapsulation using VRFs. There is the overlay safety level that covers data and verification and integrity, as well as data confidentiality that are handled through IPSEC as well as sectors isolating various network zones and domains, supplying central means for defining end-to-end subdivisions in the SD-WAN implementation.
Now, the Cloud protection is divided into 3 sections. There are affordable offerings, utilizing the most effective protection options to deal with numerous malware threats. These services use malware defense, web filtering as well as network analytics, CPE agnostics, cybersecurity policy configuration, all based upon DNS resolution.
Additionally it provides for a sophisticated protection options that offer extra safety procedures for SD-WAN solutions, acting as a NGFW. Specifically important for systems that allow public cloud access for remote offices and branches. This supplies central services with IDS/IPS capacity, sandboxing, antispam, antivirus, and so on, based upon a modern Check Point technology and is totally integrated within the network administration portal.
In addition, this SD-WAN implementation utilizes its advanced Network Traffic Analytics software with and expert level system for security. This provides an affordable and also unique service for SD-WAN safety and security, enabling an advanced system to find and also avoid safety dangers proactively.
