87% of Japanese and 84% of ASEAN IT Decision Makers Say their Organization is Vulnerable to Insider Threats
SAN JOSE, Calif., March 31, 2015 /PRNewswire/ — Vormetric, a leader in enterprise data security for physical, virtual, big data, public, private and hybrid cloud environments, today announced the results of its ASEAN andJapan focused edition of the 2015 Vormetric Insider Threat Report (ITR). The survey was conducted online on their behalf by Harris Poll in fall 2014 among 818 IT decision makers (ITDMs) in various countries, including 102 each in Japan and ASEAN. Analysis was performed in conjunction with analyst firm Ovum’s Andrew Kellett, Principal Analyst Infrastructure Solutions. This report extends earlier findings in the global report, retail and financial research briefs and cloud and big data edition with findings about how enterprises in Japan and ASEAN perceive security threats, the types of employees considered most dangerous, environments at the greatest risk for data loss and the steps organizations are taking to secure data.
“Data breaches are happening everywhere, and the Japanese and ASEAN markets are not immune,” saidAndrew Kellett, senior principal analyst with Ovum. “However, we found wide variations in the study between the attitudes and plans of Japanese and ASEAN organizations. ASEAN organizations feel significantly more at risk, and are rapidly adopting new technologies such as cloud and big data. While Japanese enterprises were significantly more conservative in their use of these technologies with sensitive data, and as such expressed lower levels of concern.”
Ordinary employees, privileged users and the supply chain – such as contractors and third party service providers – are all conduits for a traditional insider threat. But the spectrum of insider threats also includes the compromise of these insider accounts by hackers using Advanced Persistent Threat (APT) attacks and other methods. As cloud and big data adoption accelerates, these new technologies also bring new risks to organizations with additional administrative roles and potentials for infrastructure compromise.
Results showed that organizations in both regions felt vulnerable to insider threats. In Japan 87 percent, and in ASEAN 84 percent, but substantial variations were found in many other areas, and against U.S. respondents:
- Rates of very or extremely vulnerable to insider threats:
Japan: 17 percent
ASEAN: 33 percent
U.S.: 45 percent
- Failed a compliance audit or encountered a data breach in the last year
Japan: 29 percent
ASEAN: 48 percent
U.S.: 44 percent
- Top locations at risk for loss of sensitive data:
Japan – mobile devices (58 percent), PCs and workstations (47 percent)
ASEAN – file servers (50 percent), databases (45 percent)
U.S. – cloud environments (46 percent), databases (37 percent)
- Insiders that pose the largest risk:
Japan – Ordinary employees (56 percent), Contractors/Service Provider employees (52 percent)
ASEAN – Privileged users (62 percent), Partners with internal access (60 percent)
U.S. – Privileged users (59 percent), Partners with internal access (51 percent)
- Increasing IT Security spending to offset threats to data over the next 12 months:
Japan – 27 percent
ASEAN – 64 percent
U.S. – 62 percent
ASEAN respondent results were a close match for U.S respondents concerns in most areas. Japanese respondents especially had views that resemble how U.S and global organizations viewed risks to data a few years ago (based on results from the 2013 Vormetric Insider Threat Report). Recognition of the need for privileged user control, and that large data breaches result from compromises of large data stores are the largest of these changes.
“With the rate of data breaches worldwide accelerating, and with compliance and regulatory requirements for sensitive information increasing as a result, enterprises worldwide are recognizing the need to make changes in their IT security stance,” said Tina Stewart, vice president at Vormetric. “Perimeter, network and end point defenses have failed in every recent data breach. Organizations that are placing a priority on increasing data-at-rest defenses such as those in ASEAN (60 percent) and the U.S. (49 percent) will be much better prepared to protect data against attacks. Results from Japanese respondents in this area represent a concern, only 32 percent of respondents planning to increase spending on data-at-rest defenses in our results. But, with the recent disclosures of 25.66 billion attempts to compromise corporate systems in Japan by NICT, we’re seeing customers in Japan indicate that data protection is a much greater priority than the results suggest.”
The survey results and research report are available from Vormetric and can be found here.
Vormetric’s 2015 Insider Threat Report was conducted online by Harris Poll on behalf of Vormetric fromSeptember 22-October 16, 2014, among 818 adults ages 18 and older, who work full-time as an IT professional in a company and have at least a major influence in decision making for IT. In the U.S., 408 ITDMs were surveyed among companies with at least $200 million in revenue with 102 from the health care industries, 102 from financial industries, 102 from retail industries and 102 from other industries. Roughly 100 ITDMs were interviewed in the UK (103), Germany (102), Japan (102), and ASEAN (103) from companies that have at least $100 million in revenue. ASEAN countries were defined as Singapore, Malaysia, Indonesia, Thailand, and the Philippines. This online survey is not based on a probability sample and therefore no estimate of theoretical sampling error can be calculated.
Vormetric (@Vormetric) is the industry leader in data security solutions that protect data-at-rest across physical, big data and cloud environments. Vormetric helps over 1500 customers, including 17 of the Fortune 30, to meet compliance requirements and protect what matters — their sensitive data — from both internal and external threats. The company’s scalable Vormetric Data Security Platform protects any file, any database and any application’s data —anywhere it resides — with a high performance, market-leading solution set.
When Doctors’ Orders Are to Adopt a Pet: New Report Calls for Creative Solutions to Help Senior Citizens’ Benefit From Pet Ownership
BRUSSELS, March 31, 2015 /PRNewswire/ — Creative solutions can enable older adults to spend more time with pets enjoying the emotional and physical benefits that this bonding experience can bring. Researchers at the WALTHAM® Centre for Pet Nutrition, University of Montana and The Ohio State University have released new recommendations that highlight potential solutions to overcome both perceived and real barriers to pet ownership.
Existing schemes to help older adults include financial help with adoption fees, home delivery of pet food (such as Meals on Wheels for pets) and programs to help look after or rehome pets if adults become unable to care for them. New solutions could include ‘pet-adoption prescriptions’ for older adults affected with grief or isolation, trial adoptions from shelters and guidance on pet species and breed to match the individual’s needs.
“Many older adults would love to spend time with a pet and would benefit greatly from the positive effects the companionship brings, yet they worry about how they can afford or care for a pet,” said Sandra McCune, PhD, Scientific Leader, Human Animal Interaction at WALTHAM®. “In many cases, these barriers are easy to overcome. This new report shines a light on the services that exist, and inspires communities, institutions and policymakers to find new and innovative solutions. We envision a future in which fostering human-animal bonds is no longer seen as alternative care, but a standard of care.”
To find out more about the WALTHAM® Centre for Pet Nutrition, click here.
About the WALTHAM® Centre for Pet Nutrition:
Celebrating over 50 years of innovative science, the WALTHAM® Centre for Pet Nutrition serves as a leading scientific authority in advancing the frontiers of research into the nutrition and health of companion animals. Located in Leicestershire, England, the renowned state-of-the-art science institute for Mars, Incorporated generates knowledge that enables the development of innovative products that meet pets’ needs in a practical way. Since the publication of its first original research in 1963, WALTHAM® has pioneered many important breakthroughs in the field of pet nutrition and human-animal interaction, resulting in more than 1,700 publications, including over 600 peer-review scientific papers. Today, WALTHAM® continues to collaborate with the world’s foremost scientific institutes, driving Mars’ Petcare vision to create a better world for pets and providing the science and expertise that underpins leading Mars brands such as WHISKAS®, PEDIGREE®, NUTRO®, TRILL®, CESAR®, SHEBA®, KITEKAT®, DREAMIES™, AQUARIAN®, WINERGY®, BANFIELD® Pet Hospital and the ROYAL CANIN brand.
About Mars, Incorporated:
Based in McLean, Virginia, Mars has net sales of more than $33 billion, six business segments including Petcare, Chocolate, Wrigley, Food, Drinks, Symbioscience, and more than 75,000 Associates worldwide that are putting its Principles into action to make a difference for people and the planet through its performance.
Mars brands include: Petcare – PEDIGREE®, ROYAL CANIN®, WHISKAS®, BANFIELD® Pet Hospital, CESAR®, SHEBA®, DREAMIES® and NUTRO®; Chocolate – M&M’S®, SNICKERS®, DOVE®, GALAXY®, MARS®, MILKY WAY® and TWIX®; Wrigley – DOUBLEMINT®, EXTRA®, ORBIT® and 5™ chewing gums, SKITTLES® and STARBURST® candies, and ALTOIDS® AND LIFESAVERS® mints. Food – UNCLE BEN’S®, DOLMIO®, EBLY®, MASTERFOODS®, SEEDS OF CHANGE® and ROYCO®; Drinks – ALTERRA COFFEE ROASTERS™, THE BRIGHT TEA COMPANY™, KLIX® and FLAVIA®; Symbioscience – COCOAVIA® and WISDOM PANEL®.
For more information, please visit http://mars.com.
Full details of the publication can be found by following this link:http://www.tandfonline.com/doi/abs/10.1080/01924788.2015.994447#.VQmEotLF-6I.
Neuberger Berman China Equity Tops Greater China Fund Category: Morningstar Hong Kong Fund Awards 2015
HONG KONG, March 31, 2015 /PRNewswire/ — Neuberger Berman, one of the world’s leading private, employee-owned investment managers, is pleased to announce the Neuberger Berman China Equity Fund’s USD A Accumulating share class has been chosen as the winner in the Greater China Equity Fund category at the recent Morningstar Hong Kong Fund Awards 2015.
According to Morningstar Investment Management Asia, Ltd., a subsidiary of independent investment research provider Morningstar, Inc., “the Morningstar Hong Kong Fund Awards recognize retail funds and fund houses that added the most value for investors within the context of their relevant peer group in 2014 and over the longer term. Winners are selected using a quantitative methodology with a qualitative overlay developed by Morningstar that considers the one-, three-, and five-year performance history of all eligible funds. Morningstar adjusts the returns for risk using Morningstar Risk, a measure that imposes a higher penalty for downside variation in a fund’s return than it does for upside volatility.”
The Morningstar Hong Kong Fund Awards are based on Morningstar fund data as at 31 December 2014.
“We’re honored and delighted to receive this recognition in the highly competitive Greater China Equity Fund category from Morningstar, one of the global asset management industry’s leading investment research providers,” said Frank Yao, senior portfolio manager of the Greater China Investment Team and a managing director of the firm.
The Neuberger Berman China Equity Fund invests primarily in equity securities of issuers based in mainlandChina, Hong Kong and Taiwan. The Fund is managed by a proven team of 13 portfolio managers, research analysts and traders, based in Hong Kong and Shanghai, and with an average of 13 years of experience investing in Greater China equity markets. Led by portfolio managers Frank Yao and Lihui Tang, the Fund seeks to achieve an attractive total return by investing in typically 30-50 large- and mid-cap equity securities primarily in the Greater China region.
As of February 28, 2015, the Neuberger Berman China Equity Fund’s USD A Accumulating share class is rated an overall ranking of 5 stars by Morningstar Investment Management Asia, Ltd., the fund tracker’s highest rating.
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 18 countries, Neuberger Berman’s team is more than 2,100 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $250 billion in client assets as of December 31, 2014. For more information, please visit our website at www.nb.com.
The award is for reference only and they are not indicative of future performance.
This document is for information only and it is not an offer or solicitation for the purchase or sale of the Fund. Nothing contained herein constitutes investment advice and does not have regard to investor’s specific investment objectives, financial situation or particular needs. Investor should read this document in conjunction with the Singapore Prospectus and the Product Highlights Sheet (“PHS”) or seek relevant professional advice, before making any investment decision. The Prospectus and the PHS can be obtained from our websitewww.nb.com or any of its approved distributors.
This document is issued by Neuberger Berman Singapore Pte. Limited and has not been reviewed by the Monetary Authority of Singapore (“MAS”). The Fund is a sub fund of Neuberger Berman Investment Funds PLC (“NBIF”), an investment company with variable capital constituted as an umbrella fund with segregated liability between sub-funds under the laws of Ireland and authorised by the Central Bank of Ireland pursuant to the European Communities (Undertaking for Collective Investment in Transferable Securities) Regulations 2011, has been registered as a recognized scheme under the Securities and Future Act (Cap 289) in Singapore. Such recognition is not a recommendation or endorsement of its suitability for any particular investor or class of investors. NBIF has appointed Neuberger Berman Singapore Pte. Limited as its Singapore representative and agent for service of process. Investment involves risk and investor may lose the entire investment. The value of investment and the income from them can fluctuate and is not guaranteed. Past performance is not indicative of future performance. All charts, data, opinions, estimates and other information are provided as of the date of this document may be subject to change without notice.
© 2015 Morningstar. All Rights Reserved. The information, data, analyses and opinions (“Information”) contained herein: (1) include the proprietary information of Morningstar and Morningstar’s third party licensors; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; (5) are not warranted to be complete, accurate or timely; and (6) may be drawn from fund data published on various dates. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use.
© 2015 Neuberger Berman Singapore Pte. Limited. All rights reserved.
Verifone Mobile Money and MTN Announce Agreement to Deliver Retail Payment Device to MTN Mobile Money Customers
AUCKLAND, New Zealand and DUBAI, United Arab Emirates /PRNewswire/ — Verifone Mobile Money and MTN Group, today announced an agreement to deliver retail payment devices to merchants across 16 of MTN’s operating countries. The solution will enable customers to pay for goods and services using their mobile phone and MTN Mobile Money wallet, while merchants will be provided with payment terminal solutions from Verifone.
“We are excited to partner with MTN to enable their growing base of 219 million subscribers, particularly the 22 million MTN Mobile Money users, to use this innovative retail enablement software,” said Chris Jones, CEO, Verifone Mobile Money. “Access to mobile money boosts financial inclusion and prosperity, offering mobile phone users a convenient and safe way to access a variety of financial services.
“This partnership will provide merchants with the technology needed to accept mobile payments from MTN’s growing mobile money customer base. Working with MTN, we also intend to provide merchants with additional ways to leverage this technology to further enhance the consumer experience.”
MTN Group Head of Mobile Financial Services, Serigne Dioum, said: “We have created a customer experience where the mobile phone remains truly central to retail payment, thus ensuring continuity with our mobile financial services. This partnership will also allow contactless payment in the near future. As MTN, we are hopeful that our relationship with Verifone will contribute to the growth of mobile retail payments in markets where cash remains predominant.”
About Verifone Mobile Money (www.verifonemobilemoney.com)
Verifone Mobile Money is a joint venture between Verifone Systems Inc. and Mobilis Networks Limited to provide complete mobile money solutions designed to meet the needs of mobile operators for telco-based money transfer and payment services in emerging markets.
VeriFone Mobile Money offers a complete mobile money solution for mobile money providers in emerging markets. In addition to mobile money transfer services, VeriFone Mobile Money delivers quick and easy mobile money payment acceptance at the point-of-sale through VeriFone Inc.’s range of secure biometric and contactless payment acceptance devices.
About the MTN Group
Launched in 1994, the MTN Group is a leading emerging market operator, connecting subscribers in 22 countries in Africa, Asia and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africaunder the share code: “MTN.” As of 30 September 2014, MTN recorded 219,2 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Cote d’Ivoire, Cyprus, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Swaziland, Syria, Uganda, Yemen and Zambia. Visit us at, www.mtnbusiness.com, www.mtn.com andwww.mtnmmo.com.
Media contact: firstname.lastname@example.org
– Building Cloud-based Open Platform for Industries to Leverage IoT Data
— New IBM IoT Cloud Services to Drive Insights into Business Operations
— More than 2,000 IBM Consultants, Researchers and Developers to Help Enterprise Clients Reveal New Insights
ARMONK, New York, March 31, 2015 /PRNewswire/ — IBM (NYSE: IBM) today announced that it will invest $3 billion over the next four years to establish a new Internet of Things (IoT) unit, and that it is building a cloud-based open platform designed to help clients and ecosystem partners build IoT solutions.
IBM’s pioneering work in Smarter Planet and Smarter Cities was based on practical applications of IoT in the enterprise and led to a broad set of solutions, ranging from water management to optimizing retail and customer loyalty to alleviating traffic congestion. IBM leads in enterprise IoT implementations that securely combine and analyze data from a wide variety of sources.
With new industry-specific cloud data services and developer tools, IBM will build on that expertise to help clients and partners integrate data from an unprecedented number of IoT and traditional sources. These resources will be made available on an open platform to provide manufacturers with the ability to design and produce a new generation of connected devices that are better optimized for the IoT, and to help business leaders across industries create systems that better fuse enterprise and IoT data to inform decision-making.
“Our knowledge of the world grows with every connected sensor and device, but too often we are not acting on it, even when we know we can ensure a better result,” said Bob Picciano, senior vice president, IBM Analytics. “IBM will enable clients and industry partners apply IoT data to build solutions based on an open platform. This is a major focus of investment for IBM because it’s a rich and broad-based opportunity where innovation matters.”
IBM estimates that 90 percent of all data generated by devices such as smartphones, tablets, connected vehicles and appliances is never analyzed or acted on. As much as 60 percent of this data begins to lose value within milliseconds of being generated. To address this challenge, IBM is announcing it will offer:
IBM IoT Cloud Open Platform for Industries: This platform will provide new analytics services that clients, partners and IBM will use to design and deliver vertical industry IoT solutions. For example, IBM will introduce a cloud-based service that helps insurance companies extract insight from connected vehicles. This will enable new, more dynamic pricing models and the delivery of services that can be highly customized to individual drivers.
IBM Bluemix IoT Zone: New IoT services as part of IBM’s Bluemix platform-as-a-service will enable developers to easily integrate IoT data into cloud-based development and deployment of IoT apps. Developers will be able to enrich existing business applications – such as enterprise asset management, facilities management, and software engineering design tools – by infusing more real-time data and embedded analytics to further automate and optimize mission-critical IoT processes.
IBM IoT Ecosystem: Expansion of its ecosystem of IoT partners – from silicon and device manufacturers to industry-oriented solution providers – such as AT&T, ARM, Semtech and newly announced The Weather Company – to ensure the secure and seamless integration of data services and solutions on IBM’s open platform.
IBM’s capabilities are illustrated in a new global strategic alliance announced today with The Weather Company through WSI, its global B2B division. WSI’s forecasting system ingests and processes data from thousands of sources, resulting in approximately 2.2 billion unique forecast points worldwide, and averages more than 10 billion forecasts a day on active weather days. The IoT and cloud computing allow for collection of data from more than 100,000 weather sensors and aircraft, millions of smartphones, buildings and even moving vehicles. The two companies will help industries utilize their understanding of weather on business outcomes and take action systemically to optimize those parts of their businesses.
The new unit will be led by Pat Toole as General Manager.
Join the conversation #IoT
For more information on IBM’s Internet of Things business, please visit http://www.ibm.com/IoT
As a leader in building practical IoT applications for the enterprise, IBM is working with a broad range of global clients, including:
Continental is jointly developing fully-connected mobile vehicle solutions with IBM for car manufacturers around the world.
Cummins Inc. collects and transmits real-time performance data of its engines for predictive analysis with IBM IoT solutions to maintain higher operating levels and reduce downtimes.
Pratt & Whitney is using IBM IoT solutions, including predictive analytics, to more accurately and proactively monitor the health of more than 4,000 commercial engines.
SilverHook Powerboats is using IBM’s IoT Foundation service to access and analyze telematic and biometric data from its boats and pilots to make real-time racing decisions.
IBM is engaged in a partnership with the University of South Carolina to produce more insights on predictive maintenance, combining deep industry expertise from the university’s Condition-based Maintenance Research Center with predictive analytics software and skills from IBM.
Whirlpool Corporation is leveraging IBM’s IoT and predictive maintenance and quality solutions to improve the performance and reliability of its appliances.
IBM also has been helping cities around the world become smarter by designing strategies for collecting, sharing, analyzing and acting on data. For example:
Miami-Dade County, Florida is working with IBM on a Smarter Cities initiative to improve services for residents and help agencies share information among the 34 municipalities within the county. The project spans multiple areas including using data from smart meters to analyze and detect water leaks in the Parks, Recreation, & Open Spaces Department; a project to improve the efficiency of buses for the Transit Department, and predictive policing and real-time crime analytics with the Miami-Dade County Police.
In Montpellier, France the fastest growing city in France, IBM Intelligent Operations delivered via the cloud helps the the District Council set up and experiment services for water management, mobility and emergency management.
Carnegie Mellon University is using IBM IoT solutions to reduce energy and facility operating costs. Currently in a pilot program, it will eventually be deployed across 36 buildings on its Pittsburgh campus.
The U.S. General Services Administration (GSA) is working with IBM to develop and install advanced smart building technology in 50 of the federal government’s highest energy-consuming buildings.
Smarter Public Safety
The Rochester, Minnesota Police Department is mining, sharing and extracting intelligence from data by working with IBM to improve officer safety, criminal investigations and crime prevention programs.
In Dublin, Ireland, the city is working with IBM to identify and solve the root causes of traffic congestion in its public transport network.
In Melbourne, Australia, Yarra Trams is using IBM technology to access real-time information about service disruptions, tram performance and tram locations.
In Canada, the Southern Ontario Water Consortium is working with IBM using sophisticated tools to understand watershed dynamics, safeguard drinking water and forecast the impact of growth. The new platform analyzes data collected every 15 minutes and assimilates 600 data points per hour from more than 100 sensors.
Additionally, IBM also has partnered with a number of IoT ecosystem leaders, with more to come. For example:
AT&T and IBM combined their analytic platforms, cloud, and security technologies to gain more insights on data collected from machines in a variety of industries.
ARM and IBM partnered to combine ARM’s leadership in the embedded market utilizing the ARM® mbed™ platform with IBM’s leadership in Big Data, Analytics and Cloud Services to provide an easy to use Starter kit, enabling IoT developers to rapidly achieve end to end development from device through cloud services.
IBM Research and Semtech announced a new technology based on low-power, wide-area networks that offers significant advantages over cellular networks and wifi for providing machine-to-machine (M2M) communications.
ESRI, a market leader in Geographic Information System (GIS) technology, has a long history of collaborating with IBM on the development of IoT solutions that bring mapping and spatial analysis to businesses and government institutions around the globe.
Contact: IBM: Vineeta Durani, 917-855-2680, email@example.com
Related stocks: NYSE:IBM
– Deeper Understanding of Connections between Weather and Business Outcomes Could Save Industry Billions
— The Weather Company Migrates Data Services Platform to IBM Cloud
— Builds on IBM’s Open Platform to Advance Internet of Things Solutions
ARMONK, New York and ANDOVER, MassachusettsMarch 31, 2015 /PRNewswire/ — IBM (NYSE: IBM) and The Weather Company through WSI, its global B2B division, today announced a groundbreaking global strategic alliance to integrate real-time weather insights into business to improve operational performance and decision-making. As part of the alliance, The Weather Company, including WSI will shift its massive weather data services platform to the IBM Cloud and integrate its data with IBM analytics and cloud services.
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Weather is perhaps the single largest external swing factor in business performance – responsible for an annual economic impact of nearly half a trillion dollars in the U.S. alone1. While weather prediction is increasingly precise and granular, business systems generally assume every day is the same. As a result, knowledge of impending extreme weather disruptions – or even routine disruptions that drive well understood behaviors and systemic reactions – don’t always trigger operational responses. Combining weather data with traditional business data and rich data from an unprecedented number of Internet of Things (IoT) enabled systems and devices will fundamentally transform enterprise decision-making.
The IoT and cloud computing allow for collection of data from more than 100,000 weather sensors and aircraft, millions of smartphones, buildings and even moving vehicles. WSI’s forecasting system ingests and processes data from thousands of sources, resulting in approximately 2.2 billion unique forecast points worldwide, and averages more than 10 billion forecasts a day on active weather days.
By migrating its weather data platform to IBM Cloud, WSI will be able to accelerate the growth of one of the largest cloud-based applications in the world. Partnering with IBM also will enable enterprise clients and industry ecosystems to more easily integrate WSI weather data – including rapidly updated forecasts – into their operations and decision-making. Once integrated with enterprise processes, weather data can be combined with data from supply chains, customer buying patterns and other sources to create more valuable insights.
IBM and WSI will deliver new cloud services to businesses in three key ways:
Watson Analytics for Weather: IBM and WSI will enable easy integration of historical and real-time weather data in business operations and decision making with IBM analytics platforms such as Watson Analytics. The companies will jointly develop industry solutions for insurance, energy & utilities, retail and logistics among others.
Cloud and Mobile App Developer Tools: Entrepreneurs and software developers will be able to rapidly build mobile and web apps that take advantage of WSI data combined with data from operational systems, connected devices and sensors using advanced analytics through Bluemix, IBM’s cloud application development platform.
Business and Operational Weather Expertise: Thousands of consultants from across IBM Global Business Services will be trained to combine WSI data with other sources to more effectively interpret industry pain points, providing clients new insights that solve business problems.
By combining IBM’s cloud computing, industry consulting and analytics expertise with WSI’s precision weather data and forecasts, the two companies can now enable entire industries to utilize understanding of weather on business outcomes and take action at a local level. For example:
Insurers pay more than $1 billion in claims every year for vehicles damaged by hail. WSI’s Weather Alert service, together with IBM Analytics, enables insurance providers to send policyholders text messages that alert them to impending hailstorms – and safe locations – so vehicles can be moved before damage occurs. These insights have the potential to save insurers up to $25 per policyholder per year in hail-prone areas, or millions of dollars annually.
Each winter, retailers in snowy areas see patterns in which storm forecasts drive spikes in sales of groceries, shovels, sand, salt and cold-weather gear. Yet those same weather events typically hamper retail sales as consumers stay inside. But differences can be profound – during the January 2014 polar vortex, areas with greater than 10°F drops in temperature saw sales fall 15.5 percent while areas with a less than 10°F drop saw sales fall only 2.9 percent. The ability to better understand and predict the impact of such weather events allows retailers to adjust staffing and supply chain strategies as needed – regionally and nationwide.
Utility companies feel the impact of an increase in temperature and relative humidity – even just a few degrees – dramatically in air conditioning use and power consumption. The difference between 90 and 95 degrees in Texas, for example, can equate to $24 million more in electricity spending per day. With IBM and WSI, utilities will be able to more accurately predict power consumption so they can avoid overproducing power, reduce service interruptions and better serve customers.
“This deal combines the capabilities of the world’s largest and most advanced commercial weather company with the leader in big data and analytics. Together, we’ll help businesses and governments transform their decisions and operations around weather fluctuation at a scale that hasn’t been possible until now,” said David Kenny, chairman and CEO of The Weather Company. “This is a watershed moment for businesses that have long been impacted by weather but haven’t had the rich data or enhanced decision-making ability to drive positive business outcomes. The combination of our new high-resolution forecasting capabilities with IBM analytics opens up a world of possibilities for the enterprise.”
The partnership builds upon IBM’s investment of $3 billion over the next four years in an Internet of Things (IoT) unit to develop a portfolio of cloud services, software and related intellectual property.
“There’s an opportunity to inform all business operations and decision-making with real-time actionable insight delivered securely via the cloud and extracted from all this data collected from sensors all over the planet,” said Bob Picciano, senior vice president, IBM Analytics. “The Weather Company and IBM partnership can be a catalyst to making critical business systems even smarter.”
Join the conversation #IBMandWeather and #weathermeansbiz
For more information on IBM’s Internet of Things business, please visit http://www.ibm.com/IoT
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About WSI, the professional division of The Weather Company
Weather Means Business™. WSI is the world’s leading provider of weather-driven business solutions that enable enterprises to make better decisions using the most accurate and precise weather data available.
WSI serves some of the world’s biggest brands in the aviation, energy, insurance, and media markets, as well as federal and state government agencies. We are proud to be a part of The Weather Company, which focuses entirely on the weather, delivering billions of discrete forecasts per day around the world, through a media portfolio that includes The Weather Channel®, weather.com®, WSI and Weather Underground. Learn more at http://www.wsi.com.
(1) Source: U.S. Economic Sensitivity to Weather Variability, Bulletin of the American Meteorological Society, June 2011.
Media Contact: IBM: Vineeta Durani, 917-855-2680, firstname.lastname@example.org, or The Weather Company: David Blumenthal, email@example.com
Related stocks: NYSE:IBM
AMSTERDAM, March 31, 2015 /PRNewswire/ — GO Scale Capital, an investment fund sponsored by GSR Ventures and Oak Investment Partners has announced today that it will acquire an 80.1% interest in Philips’ combined LED components and Automotive lighting business, with Philips retaining the remaining 19.9%* interest. The transaction values the business at an enterprise value of approximately USD 3.3 billion. The transaction is expected to be completed in the third quarter of 2015, subject to closing conditions, including customary regulatory approvals.
Following the transaction, the new company will continue under the name Lumileds, led by CEO Pierre-Yves Lesaicherre. Philips will remain an important customer of Lumileds and will continue the existing innovation and supply partnership. The transaction includes the transfer of a broad patent portfolio of more than 600 patent families related to LED manufacturing and automotive lighting from Philips to Lumileds.
Sonny Wu, co-founder and managing director of GSR Ventures and chairman of GO Scale Capital, who will serve as interim Chairman of Lumileds following the completion of the transaction, stated that “the Lumileds acquisition will be a perfect example of how GO Scale turns cutting edge technologies into world class companies. GO Scale Capital will focus on expanding Lumileds’ opportunities by investing in its global centers of operation and in the fast growing general lighting and automotive industries. Through Lumileds’ world-leading technology in key verticals such as LED chips, LED mobile flash and automotive lighting, together with a customer base including the likes of BMW, Volkswagen and Audi, we expect to see significant growth and unparalleled inroads into new opportunities such as electric vehicles.”
GO Scale Capital is a new investment fund sponsored by GSR Ventures and Oak Investment Partners. The consortium partners are Asia Pacific Resource Development, Nanchang Industrial Group and GSR Capital. The GO Scale Capital team has deep technology expertise and a track record in scaling up disruptive technologies in China. Current investments include Boston Power, a leading manufacturer of electric vehicle batteries and Xin Da Yang, a fast growing Eco-EV company in China. The team brings deep knowledge of the technology and new energy sectors. Through their past investments in the LED industry, they have access to complementary technologies and manufacturing capacity. This uniquely complements Lumileds’ high-power LED manufacturing footprint and expertise, and the combination offers opportunities for the company to pursue further growth and scale through the GO Scale model.
“Philips is very positive about this transaction with GO Scale Capital as its principals are long-term, growth-oriented investors with a track record of building and expanding technology companies,” said Frans van Houten, CEO of Royal Philips. “We have significantly improved the performance of the LED components business and optimized the industrial footprint in the Automotive lighting business over the last few years, and established a strong management team and innovation pipeline. We are therefore convinced that together with GO Scale Capital, Lumileds can grow faster, attract more customers and increase scale as a stand-alone company.”
“I am convinced that together with the new investors led by GO Scale Capital, Lumileds will extend its leading product portfolio of lighting components and continue to achieve robust growth,” said Pierre-Yves Lesaicherre, CEO of Lumileds. “With our strong technology leadership, we are ready to address the future needs of our customers. We will work closely with our industry partners and customers to lead innovation and the transformation of our industry.”
Lumileds is a leading supplier of lighting components to the general illumination, automotive and consumer electronics markets with operations in more than 30 countries and has approximately 8,300 employees worldwide. In 2014, it generated sales of approximately USD 2 billion and a double-digit EBITA margin.
* including a 34% interest in the Lumileds US operations
About GO Scale Capital
Sponsored by GSR Ventures and Oak Investment Partners GO Scale Capital is a growth stage fund under the GSR Capital families of funds, with offices in Beijing, Hong Kong and Silicon Valley. The fund’s team brings together years of cross border operating experience and successful co-investment history in mature and cutting edge technologies. The fund’s goal is to scale up its investments in China for global markets.
Royal Philips (NYSE: PHG, AEX: PHIA) is a diversified health and well-being company, focused on improving people’s lives through meaningful innovation in the areas of Healthcare, Consumer Lifestyle and Lighting. Headquartered in the Netherlands, Philips posted 2014 sales of EUR 21.4 billion and employs approximately 105,000 employees with sales and services in more than 100 countries. The company is a leader in cardiac care, acute care and home healthcare, energy efficient lighting solutions and new lighting applications, as well as male shaving and grooming and oral healthcare. News from Philips is located at http://www.philips.com/newscenter.
Source: GO Scale Capital