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Archive for August 10th, 2016

NextVR Targets International Growth and Global Partnerships with $80 Million Series B Funding Round

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-Investors from across Asia help leader in live virtual reality broadcasting build a sustainable flow of world-class entertainment to expanding global audience
LAGUNA BEACH, Calif. /PRNewswire/ — NextVR, the leader in live virtual reality broadcast technology, announced a significant funding milestone, raising $80 million in a Series B round to help the company expand its global footprint. The majority of funding from the Series B raise comes from high-profile investors throughout Asia in the entertainment, content and technology markets, as well as new U.S. investors including all participating U.S. investors from the Series A round.

Photo – http://photos.prnewswire.com/prnh/20160808/396602

The Series B investment positions NextVR to accelerate development of its virtual reality platform and international operations to bring considerably more live entertainment – from concerts, world-class sports and other performances – to consumers through an expanding array of high-profile, global technology, entertainment and investment partners.

“With this new funding, we will continue to build NextVR’s virtual reality platform to meet the needs of the world’s largest fan bases around live sports and music content,” said Brad Allen, NextVR Executive Chairman. “Having the support of Asia’s biggest players provides us with significant resources for creating and distributing both local and international content in China, Korea, and Japan.”

NextVR’s pipeline of exclusive content and virtual reality experiences grew significantly in 2016. Recently, NextVR announced a partnership with Live Nation, the global leader for live entertainment, to deliver hundreds of ‘A’ list performances in virtual reality to fans worldwide. As NextVR continues to broadcast major sporting events live in virtual reality – including past events such as the U.S. Open and the Masters Tournament, the Kentucky Derby, the DAYTONA 500, the International Champions Cup (ICC) and many others – the new funding will lead to a sustainable cadence of live and on-demand virtual reality broadcasts.

Investors in the Series B round include:

CITIC Guoan Information Industry Co Ltd, is primarily engaged in information network infrastructure construction and provision of information services. The company businesses include cable television network services, value-added telecommunications services, network system integration and development of application software products.
NetEase, a leading Chinese Internet technology and online gaming company, is focused on providing content for mobile and PC games, as well as stimulating consumer engagement. In partnership with Blizzard Entertainment, Microsoft and Mojang AB, NetEase also licenses some of the most popular international online games such as World of Warcraft®, Hearthstone®: Heroes of Warcraft™, and Minecraft in China.
CMC Holdings (CMC), founded and chaired by Ruigang Li, is China’s leading investment and operating platform in media and entertainment, internet and mobile and lifestyle. CMC has created and cultivated many leading and innovative companies across the entire spectrum of content, platform, technology and service, and in diverse areas including film, television, sports, advertising, financial and media data service, smart TV, VR, location-based entertainment, music, game and e-commerce.
SoftBank Corp., a subsidiary of SoftBank Group Corp., provides mobile communication, fixed-line communication and internet connection services to customers in Japan. Leveraging synergies with other companies in the SoftBank Group, SoftBank Corp. aims to transform lifestyles through information and communications technology (ICT) and to expand into other business areas including the Internet of Things (IoT), robotics and energy.
VMS Investments Group is a multi-strategy investment group of companies based in Hong Kong with businesses covering private equity, structured finance, asset management, securities brokerage and corporate finance advisory services. Its portfolio includes companies with a focus in technology, media and telecommunications as well as healthcare, modern services and natural resources, and consumer sectors.
Founder H Fund, an arm of Founder Group, is a leading Chinese investment firm focused on companies in growth and mature stages across all sectors globally. The company primarily concentrates on healthcare, life science, TMT, new media and other emerging industries.
China Assets (Holdings) Limited, a listed company on the Stock Exchange of Hong Kong, is an investment fund covering Hong Kong and the People’s Republic of China. Its primary areas of investment include health care, pharmaceuticals and technology.
Spectrum 28, an early-stage fund investing in industries ready for a tectonic shift and companies/technologies that can trigger change at a global scale. The team is based in San Francisco, Calif.
“We trust in the future of live experiences in VR and NextVR has proven it is the company that will deliver on that promise. We are making an investment in NextVR because we believe the company’s global platform for live VR will win the hearts and minds of users everywhere,” said Sun Lu, president of CITIC Guoan.

All the investors from the $30.5 million Series A round, announced in November of 2015, participated in the Series B round. They include lead investor Formation Group, Time Warner Investments, Comcast Ventures, Stephen Ross’s RSE Ventures, Mandalay Entertainment CEO Peter Guber, The Madison Square Garden Co., and dick clark productions.

“NextVR continues to revolutionize how live virtual reality content will be created and delivered,” said Scott Levine, Managing Director of Time Warner Investments and a NextVR board observer. “Consumers are excited about the technology and NextVR’s platform is clearly the leader in this emerging space.”

About NextVR: NextVR enables the transmission of live, long-form virtual reality content in broadcast quality – leading the way for live and on-demand VR to become a mainstream experience for sporting events, concerts, cinematic productions and more. Launched in 2009, NextVR has more than 36 patents granted or pending for the capture, compression, transmission, and display of virtual reality content. NextVR’s platform allows the fully immersive content to be streamed with pristine quality using current home and mobile Internet connections. NextVR was founded by veterans in stereoscopic imaging technology, software development and an award-winning filmmaker. For more information, go to http://www.nextvr.com.

Media Contact
Karena Bibbins, for NextVR
Burson-Marsteller
+1 (310) 309-6663
Karena.bibbins@bm.com

Source: NextVR

Written by asiafreshnews

August 10, 2016 at 4:43 pm

Posted in Uncategorized

Iberia Signs up ARMS(R) V2 Applications for Operations and Crew Management

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-Sheorey Digital Systems (SDS) is Delighted to Announce its Signing up With Leading Spanish Flag Carrier, Iberia for its Aviation ERP – ARMS® V2
MUMBAI, India /PRNewswire/ — Iberia, a member of International Airlines Group (IAG), has decided to go with ARMS® V2 (Aviation Resource Management System) Operations and Crew Management Software with the intent of replacing its legacy software applications with a completely integrated state-of-the-art application suite that reduces about ten myriad applications in current use, to just two core applications.

Photo – http://photos.prnewswire.com/prnh/20160809/396653
Logo – http://photos.prnewswire.com/prnh/20160809/396652LOGO

ARMS® V2 – Flight Operations Sub-System (FOSS) and Crew Management Sub-System (CMSS), along with three state-of-the-art decision support Optimizers, will be installed to address Iberia’s requirements of deploying an integrated platform, with the accompanying benefit of having these systems reside on a unified database.

Commenting on this outcome, MD and CEO of SDS, Vivek (Vicky) Sheorey said, “It is extremely gratifying for ARMS® to have been chosen by a pre-eminent European carrier such as Iberia. Having come about after an exhaustive evaluation, we are all the more pleased for the confidence that Iberia has expressed in the systems’ capabilities. As Iberia successfully moves ahead with its ‘Plan de Futuro’ (Plan for the Future), we firmly believe that an integrated system like ARMS®, with its fundamental premise of bringing about efficiency across the organization by managing disruptions better, will provide a vital impetus to this plan.”

Rapidly growing and evolving, ARMS® V2 already counts over 50 customers worldwide for its innovative capabilities as the only true integrated Aviation ERP in the market today, which seamlessly integrates all of the functional and operational areas of an airline/air operator with a unified database.

About SDS:

Sheorey Digital Systems (SDS) is an ISO 9001:2008 & 27001:2005 certified, established Indian InfoTech company specializing in Aviation and Information Management domains. SDS strives to provide radically efficient and cost-effective software solutions for the air transportation industry.

SDS has pioneered the development of a highly integrated, flexible and scalable enterprise-class software solution exclusively for the air transportation industry viz. ARMS® (Aviation Resource Management System). Offered as both, a seamlessly integrated suite or modular standalone applications, ARMS® is helping airlines and air operators worldwide, successfully cope with uncertain and highly volatile bottom lines.

For business/media enquiries:
Prashant Kavi
Vice President – Business Development
Tel: +91-8025036000
prashant.kavi@sds.co.in

Source: Sheorey Digital Systems Pvt. Ltd.
Related Links:
http://www.sds.co.in

Written by asiafreshnews

August 10, 2016 at 4:37 pm

Posted in Uncategorized

Virtual Reality Explores Learning Outside of the Classroom from the Comfort of a School Desk

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LONDON /PRNewswire/ — While consumer-focused verticals like gaming continue to control the virtual reality (VR) landscape, device usage is spiking in education, as the devices foster a more immersive, effective learning environment. ABI Research finds that B2B2C virtual reality device shipments will account for 90% of shipments in the education market vertical.

Logo – http://photos.prnewswire.com/prnh/20151014/276887LOGO

“VR allows educational facilities to provide a level of immersion and interactivity to their teaching services that would not be possible otherwise,” says Shelli Bernard, Research Analyst at ABI Research. “Through initiatives like Google Expeditions and zSpace, students can explore notable landmarks in foreign countries or inaccessible locations like space from the comforts of their classroom. The technology opens the doors to a new way to visualize data and conduct research.”

VR devices offer teachers new tools to keep students engaged and provide an alternative learning method to support those students who do not benefit from traditional teaching methods. The use of VR devices in the classroom can also improve safety, as students can now learn about harsh chemicals in the sciences, for instance, without actually exposing themselves to any harmful risks.

While the selection of VR content currently available for classrooms is limited, ABI Research predicts that such VR tools, like Alchemy VR and Immersive VR Education, will soon support learning across a wide demographic and range of topics. And with product price points hitting both the low and high ends of the spectrum, even institutions with smaller budgets, like public schools, will be able to purchase large quantities of these devices.

And the education market vertical, which ABI Research expects to account for more than 13% of VR device shipments this year, will not be the only one to benefit from VR. The commerce and marketing, high-end entertainment, retail, and tourism verticals will also see significant B2B2C use of VR. And while the gaming and media and entertainment verticals will also see some B2B2C VR use, these verticals will primarily experience B2C-focused sales for the time being.

“As the benefits to VR become clearer, the selection of immersive experiences available in the classroom and beyond will grow rapidly,” concludes Eric Abbruzzese, Senior Analyst at ABI Research. “Given its current growth trajectory, VR has the potential to drastically improve the way people across a variety of different enterprises experience their surroundings.”

These findings are from ABI Research’s Consumer Virtual Reality Applications (https://www.abiresearch.com/market-research/product/1025292-consumer-virtual-reality-applications/). This report is part of the company’s Video, OTT, AR & VR sector (https://www.abiresearch.com/market-research/practice/cloud-content-ott/), which includes research, data, and analyst insights.

About ABI Research

ABI Research stands at the forefront of technology market research, providing business leaders with comprehensive research and consulting services to help them implement informed, transformative technology decisions. Founded more than 25 years ago, the company’s global team of senior and long-tenured analysts delivers deep market data forecasts, analyses, and teardown services. ABI Research is an industry pioneer, proactively uncovering ground-breaking business cycles and publishing research 18 to 36 months in advance of other organizations. For more information, visit http://www.abiresearch.com.

Contact Info: Mackenzie Gavel
Tel: +44.203.326.0142
pr@abiresearch.com

Source: ABI Research

Written by asiafreshnews

August 10, 2016 at 4:26 pm

Posted in Uncategorized

Swedish Startup Magine Clinches Deal to Stream Live TV to Over 100 Million Chinese Households

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STOCKHOLM /PRNewswire/ —

Company establishes Magine Asia Unit in Hong Kong

The Swedish streaming television platform Magine AB (http://www.magine.com/global) has announced the agreement with a Beijing-based digital TV system integrator and operator to build, launch and operate an Internet-based video streaming system for the Chinese market. In parallel with this, Magine has established the Magine Asia Unit, based in Hong Kong.

The agreement comprises the establishment and operation of an internet platform to provide both video-on-demand and linear content streaming to over 100 million households. The Beijing based company has active businesses in a number of provinces in China, and close cooperation with some of the largest TV stations and operators there.

“Global expansion and deep strategic partnerships are key to Magine’s growth. With this agreement, we become a leading player in the rapidly evolving Chinese streaming market,” said Dr. Ambuj Goyal, CEO of Magine. “Magine’s superfast, reliable and secure global internet based TV distribution platform, dubbed Magine’s TV Superhighway, is transforming the way how production quality content moves around the world,” says Goyal.

About Magine

The Swedish startup Magine is a pioneer within the international TV streaming market. With consumer services in Scandinavia and Germany since 2013 and with new partners operating in Asia, the Middle East and North Africa, Magine is building the fundamentals of the TV Superhighway, offering a global OTT platform and an ecosystem for content providers and distributors in all parts of the world. The company has offices in Stockholm, Berlin, London and Hong Kong.

http://www.magine.com/global

Source: Magine

Written by asiafreshnews

August 10, 2016 at 4:08 pm

Posted in Uncategorized

Monster Worldwide Reports Second Quarter 2016 Financial Results

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— Monster Announces Agreement to be Acquired by Randstad
— Monster Cancels Second Quarter Conference Call in Light of Transaction Announcement
WESTON, Mass. /PRNewswire/ — Monster Worldwide, Inc. (NYSE: MWW) today reported summary financial results and a GAAP to Non GAAP reconciliation schedule for the second quarter ended June 30, 2016. The Company will file full second quarter and six months financial results on Form 10-Q before today’s market open, which will be available on the investor relations section of its corporate website, http://www.monster.com.

As separately announced today, Monster has entered into a definitive agreement under which Randstad Holding nv (AMS: RAND), through a wholly-owned subsidiary, will acquire Monster for $3.40 per share in cash, or a total purchase price of approximately $429 million (enterprise value).

Second Quarter Financial Results:

Revenue from continuing operations were $150.9 million with Careers-North America operations generating $103.7 million and Careers- International contributing $47.2 million. Total GAAP operating expenses from continuing operations were $301.5 million, including a pre-tax goodwill impairment charge of $142.0 million, and the net loss from continuing operations was $124.2 million, or $1.40 per share. Non GAAP net loss from continuing operations was $2.1 million, or $0.02 per share. Cash EBITDA was $7.0 million in the second quarter of 2016. Deferred revenue from continuing operations was $239.3 million.

Cancelling Second Quarter Conference Call:

In light of the announced agreement with Randstad, Monster has cancelled its second quarter 2016 conference call with analysts and investors previously scheduled for August 9, 2016 at 8:30 AM ET. Monster has also suspended any prior guidance provided as a result of the transaction announcement.

About Monster Worldwide

Monster Worldwide, Inc. (NYSE: MWW) is a global leader in connecting people to jobs, wherever they are. For more than 20 years, Monster has helped people improve their lives with better jobs, and employers find the best talent. Today, the Company offers services in more than 40 countries, providing some of the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities. Monster continues its pioneering work of transforming the recruiting industry with advanced technology using intelligent digital, social and mobile solutions, including our flagship website monster.com® and a vast array of products and services. For more information visit http://monster.com/about.

Special Note: The statements in this release that are not strictly historical, including, without limitation, statements regarding the Company’s strategic direction, prospects and future results, constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve certain risks and uncertainties and, therefore, actual results may differ materially from what is expressed or implied herein. Factors that could cause results to differ materially from those expressed or implied by such forward-looking statements include, but are not limited to, economic and other conditions in the markets in which we operate, risks associated with acquisitions or dispositions, competition, and the other risks discussed in our Form 10-K and our other filings made with the Securities and Exchange Commission, which discussions are incorporated into this release by reference. Many of the factors that will determine the Company’s future results are beyond the ability of management to control or predict. Readers should not place undue reliance on the forward-looking statements in this release as they reflect management’s views only as of the date hereof. The Company undertakes no obligation to revise or update any of the forward-looking statements contained in this release or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Notes Regarding the Use of Non-GAAP Financial Measures

The Company has provided certain Non-GAAP financial information as additional information for its operating results. These measures are not in accordance with, or an alternative for, generally accepted accounting principles (“GAAP”) and may be different from Non-GAAP measures reported by other companies. The Company believes that its presentation of Non-GAAP measures provides useful information to management and investors regarding certain financial and business trends relating to its financial condition and results of operations.

Non-GAAP revenue, operating expenses, operating income (loss), operating margin, income (loss) from continuing operations, income from discontinued operations, net of tax, net income (loss), net income (loss) attributable to Monster Worldwide, Inc., and diluted earnings (loss) per share attributable to Monster Worldwide, Inc. all exclude certain pro-forma items including: non-cash stock based compensation expense; non-cash impairment charges; costs incurred in connection with the Company’s restructuring programs; certain separation charges; certain management advisory fees; amortization of the debt discount and deferred financing costs associated with our 3.50% convertible senior notes due 2019; the results of our former South Korean subsidiary as it has been classified as discontinued operations; and gain on partial sale of an equity method investment

In the first quarter of the calendar year 2015, the Company began to utilize a fixed long-term projected Non-GAAP tax rate for reporting operating results and for planning, forecasting, and analyzing future periods. This change provides better consistency across the interim reporting periods by eliminating the effects of non-recurring and period-specific items. When projecting this long-term rate, the Company evaluates a five-year financial projection comprising the current and the next four years that exclude the income tax effects of the Non-GAAP pre-tax items described above, eliminates the effects of non-recurring and period specific items which can vary in size and frequency, and is reflective of the anticipated future geographic mix of income among tax jurisdictions. The projected rate also assumes no new acquisitions or disposals in the five-year period, eliminates the effect of tax valuation allowances, and takes into account other factors including the Company’s current tax structure, its existing tax positions in various jurisdictions and key legislation in major jurisdictions where the Company operates. The Non-GAAP tax rate is 35%. The Company intends to re-evaluate this long-term rate on an annual basis or if any significant events that may materially affect this long-term rate occur. This long-term rate could be subject to change for a variety of reasons, which may include (but are not limited to) for example, significant changes in the geographic earnings mix including future acquisition or disposition activity, having less income than anticipated, or fundamental tax law changes in major jurisdictions where the Company operates.

Non-GAAP diluted shares includes the impact, based on the average share price for the period, of the Company’s outstanding capped call transactions, which are anti-dilutive in GAAP earnings per share, but are expected to mitigate the dilutive effect of the Company’s 3.50% convertible senior notes due 2019.

The Company uses these Non-GAAP measures for reviewing the ongoing results of the Company’s core business operations and in certain instances, for measuring performance under certain of the Company’s incentive compensation plans. These Non-GAAP measures may not be comparable to similarly titled measures reported by other companies.

Cash EBITDA is defined as income (loss) from continuing operations or net income (loss), as applicable, before income (loss) in equity interests, net, provision for (benefit from) income taxes, interest and other, net, gain on partial sale of equity method investment, depreciation, amortization, non-cash compensation expense and non-cash impairment charges. The Company considers Cash EBITDA to be an important indicator of its operational strength which the Company believes is useful to management and investors in evaluating its operating performance. Cash EBITDA is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies.

Adjusted EBITDA is defined as income (loss) from continuing operations or net income (loss), as applicable, before income (loss) in equity interests, net, provision for (benefit from) income taxes, interest and other, net, gain on partial sale of equity method investment, depreciation, amortization, non-cash compensation expense, non-cash impairment charges, costs incurred with the Company’s restructuring programs, and the impact of the pro-forma items discussed above. The Company considers Adjusted EBITDA to be an important indicator of its operational strength which the Company believes is useful to management and investors in evaluating its operating performance. Adjusted EBITDA is a non-GAAP measure and may not be comparable to similarly titled measures reported by other companies.

MONSTER WORLDWIDE, INC.

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share amounts)

Three Months Ended June 30,

Six Months Ended June 30,

2016

2015

2016

2015

Revenue

$ 150,912

$ 167,730

$ 308,699

$ 340,612

Salaries and related

78,317

85,363

156,466

174,713

Office and general

44,387

42,998

86,168

87,792

Marketing and promotion

33,426

30,416

62,908

61,047

Restructuring and other special charges

5,915

26,007

Goodwill impairment

142,002

142,002

Impairment of indefinite lived intangible assets

3,400

3,400

Total operating expenses

301,532

164,692

450,944

349,559

Operating (loss) income

(150,620)

3,038

(142,245)

(8,947)

Gain on partial sale of equity method investment

8,849

Interest and other, net

(2,929)

(3,409)

(6,406)

(6,615)

Loss before income taxes and (loss) income in equity interests

(153,549)

(371)

(148,651)

(6,713)

(Benefit from) provision for income taxes

(29,435)

1,819

(26,128)

(12,126)

(Loss) income in equity interests, net

(41)

292

209

72

(Loss) income from continuing operations

(124,155)

(1,898)

(122,314)

5,485

Income from discontinued operations, net of tax

2,036

3,842

Net (loss) income

(124,155)

138

(122,314)

9,327

Net income attributable to noncontrolling interest

(1,181)

(2,200)

Net (loss) income attributable to Monster Worldwide, Inc.

$ (124,155)

$ (1,043)

$ (122,314)

$ 7,127

Basic (loss) earnings per share attributable to Monster Worldwide, Inc.:

(Loss) income from continuing operations

$ (1.40)

$ (0.02)

$ (1.38)

$ 0.06

Income from discontinued operations, net of tax

0.01

0.02

Basic (loss) earnings per share attributable to Monster Worldwide, Inc.

$ (1.40)

$ (0.01)

$ (1.38)

$ 0.08

Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.:

(Loss) income from continuing operations

$ (1.40)

$ (0.02)

$ (1.38)

$ 0.06

Income from discontinued operations, net of tax

0.01

0.02

Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.

$ (1.40)

$ (0.01)

$ (1.38)

$ 0.08

Weighted average shares outstanding:

Basic

88,683

90,067

88,802

89,605

Diluted

88,683

90,067

88,802

93,218

Reconciliation of (loss) income from continuing operations to Cash EBITDA and Adjusted EBITDA

(Loss) income from continuing operations

$ (124,155)

$ (1,898)

$ (122,314)

$ 5,485

Loss (income) in equity interests, net

41

(292)

(209)

(72)

(Benefit from) provision for income taxes

(29,435)

1,819

(26,128)

(12,126)

Interest and other, net

2,929

3,409

6,406

6,615

Impairment of indefinite lived intangible assets

3,400

3,400

Goodwill impairment

142,002

142,002

Gain on partial sale of equity method investment

(8,849)

Depreciation and amortization of intangibles

10,230

11,109

20,255

22,599

Stock-based compensation

1,972

3,613

3,051

8,018

Restructuring non-cash charges

4,226

Cash EBITDA

$ 6,984

$ 17,760

$ 26,463

$ 25,896

Management advisory fees

2,194

3,752

Separation charges

2,000

417

2,000

Restructuring and other special charges, less non-cash items

5,915

21,781

Adjusted EBITDA

$ 9,178

$ 25,675

$ 30,632

$ 49,677

MONSTER WORLDWIDE, INC.

UNAUDITED STATEMENTS OF OPERATIONS AND NON-GAAP RECONCILIATIONS

(in thousands, except per share amounts)

Three Months Ended June 30, 2016

Three Months Ended June 30, 2015

As Reported

Non GAAP
Adjustments

Consolidated
Non GAAP

As Reported

Non GAAP
Adjustments

Consolidated
Non GAAP

Revenue

$ 150,912

$ –

$ 150,912

$ 167,730

$ –

$ 167,730

Salaries and related

78,317

(1,972)

a

76,345

85,363

(5,612)

a

79,751

Office and general

44,387

(2,194)

c

42,193

42,998

42,998

Marketing and promotion

33,426

33,426

30,416

30,416

Restructuring and other special charges

5,915

(5,915)

b

Goodwill impairment

142,002

(142,002)

e

Impairment of indefinite lived intangible assets

3,400

(3,400)

d

Total operating expenses

301,532

(149,568)

151,964

164,692

(11,527)

153,165

Operating (loss) income

(150,620)

149,568

(1,052)

3,038

11,527

14,565

Operating margin

(99.8%)

(0.7%)

1.8%

8.7%

Interest and other, net

(2,929)

887

f

(2,042)

(3,409)

1,253

f

(2,156)

(Loss) income before income taxes and (loss) income in equity interests

(153,549)

150,455

(3,094)

(371)

12,780

12,409

(Benefit from) provision for income taxes

(29,435)

28,352

h

(1,083)

1,819

2,525

h

4,344

(Loss) income in equity interests, net

(41)

(41)

292

292

(Loss) income from continuing operations

(124,155)

122,103

(2,052)

(1,898)

10,255

8,357

Income from discontinued operations, net of tax

2,036

(2,036)

i

Net (loss) income

(124,155)

122,103

(2,052)

138

8,219

8,357

Net income attributable to noncontrolling interest

(1,181)

1,181

Net (loss) income attributable to Monster Worldwide, Inc.

$ (124,155)

$ 122,103

$ (2,052)

$ (1,043)

$ 9,400

$ 8,357

Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.:

(Loss) income from continuing operations

$ (1.40)

$ 1.38

$ (0.02)

$ (0.02)

$ 0.11

$ 0.09

Income from discontinued operations, net of tax

0.01

(0.01)

Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.:

$ (1.40)

$ 1.38

$ (0.02)

$ (0.01)

$ 0.10

$ 0.09

Weighted average shares outstanding:

Diluted

88,683

88,683

90,067

807

j,k

90,874

Six Months Ended June 30, 2016

Six Months Ended June 30, 2015

As Reported

Non GAAP
Adjustments

Consolidated
Non GAAP

As Reported

Non GAAP
Adjustments

Consolidated
Non GAAP

Revenue

$ 308,699

$ –

$ 308,699

$ 340,612

$ –

$ 340,612

Salaries and related

156,466

(3,468)

a

152,998

174,713

(10,017)

a

164,696

Office and general

86,168

(3,752)

c

82,416

87,792

87,792

Marketing and promotion

62,908

62,908

61,047

61,047

Restructuring and other special charges

26,007

(26,007)

b

Goodwill impairment

142,002

(142,002)

e

Impairment of indefinite lived intangible assets

3,400

(3,400)

d

Total operating expenses

450,944

(152,622)

298,322

349,559

(36,024)

313,535

Operating income (loss)

(142,245)

152,622

10,377

(8,947)

36,024

27,077

Operating margin

(46.1%)

3.4%

(2.6%)

7.9%

Gain on partial sale of equity method investment

8,849

(8,849)

g

Interest and other, net

(6,406)

2,132

f

(4,274)

(6,615)

2,537

f

(4,078)

(Loss) income before income taxes and income (loss) in equity interests

(148,651)

154,754

6,103

(6,713)

29,712

22,999

(Benefit from) provision for income taxes

(26,128)

28,264

h

2,136

(12,126)

20,177

h

8,051

Income in equity interests, net

209

209

72

72

(Loss) income from continuing operations

(122,314)

126,490

4,176

5,485

9,535

15,020

Income from discontinued operations, net of tax

3,842

(3,842)

i

Net (loss) income

(122,314)

126,490

4,176

9,327

5,693

15,020

Net income attributable to noncontrolling interest

(2,200)

2,200

Net (loss) income attributable to Monster Worldwide, Inc.

$ (122,314)

$ 126,490

$ 4,176

$ 7,127

$ 7,893

$ 15,020

Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.:

(Loss) income from continuing operations

$ (1.38)

$ 1.43

$ 0.05

$ 0.06

$ 0.11

$ 0.17

Income from discontinued operations, net of tax

0.02

(0.02)

Diluted (loss) earnings per share attributable to Monster Worldwide, Inc.:

(1.38)

$ 1.43

0.05

0.08

$ 0.09

0.17

Weighted average shares outstanding:

Diluted

88,802

733

k

89,535

93,218

(2,417)

j

90,801

Note Regarding Non GAAP Adjustments:

The financial information included herein contains certain Non-GAAP financial measures. This information is not intended to be used in place of the financial information prepared and presented in accordance with GAAP, nor is it intended to be considered in isolation. We believe that the above presentation of Non-GAAP measures provide useful information to management and investors regarding certain core operating and business trends relating to our results of operations, exclusive of certain restructuring related and other special charges.

Non GAAP adjustments consist of the following:

a

Costs related to stock based compensation. Additionally, the Company incurred $0.4 million of separation charges in Q1 2016 primarily relating to the reorganization of the sales force in North America.

b

Restructuring related charges pertaining to the “Reallocate to Accelerate” program announced in February 2015.

c

Charges incurred primarily related to management advisory fees. This engagement ended during Q2 2016 and no additional fees are expected in future periods.

d

Impairment of indefinite lived intangible assets recognized in Q2 2016.

e

The Company recognized an estimated pre-tax goodwill impairment charge of $142.0 million, or $114.9 million on a net of tax basis, to the Careers-North America reporting unit during Q2 2016. Due to the complexities involved in estimating the fair value of certain assets and liabilities, the Company has not finalized its impairment analysis as of August 9, 2016. The Company will complete a formal impairment analysis during Q3 2016 and recognize any adjustments to the estimated impairment charge at that time. We believe that our preliminary estimate is reasonable and represents the Company’s best estimate of the goodwill impairment loss to be incurred, however, it is possible that the completion of the formal analysis may result in a material adjustment to this preliminary estimate in Q3 2016. This charge does not impact our liquidity, cash flows from operations, future operations, or compliance with debt covenants.

f

Non-GAAP interest expense related to the debt discount and amortization of the deferred financing costs related to the Company’s convertible notes due 2019. The charges in Q2 2016 were slightly offset by a $0.3 million gain recognized on the sale of domains during the quarter.

g

Gain on partial sale of equity method investment during Q2 2016.

h

Beginning in Q1 2015, the Non-GAAP income tax provision is calculated using a fixed long-term projected Non-GAAP tax rate of 35% as applied to Non-GAAP pre-tax income. Prior to Q1 2015, the Non-GAAP income tax adjustment was calculated using the effective rate of the reporting period, as adjusted for the effects of certain non-deductible stock based compensation and provisions for tax valuation allowances.

i

Non-GAAP adjustment relates to the sale of our former subsidiary in South Korea in October 2015, and primarily includes the operations of our former subsidiary.

j

Non-GAAP adjustment includes the impact, based on the average share price for the period, of the Company’s outstanding capped call transactions, which are anti-dilutive in GAAP earnings per share but are expected to mitigate the dilutive effect of the Company’s convertible notes due 2019.

k

Non-GAAP adjustment includes the dilutive impact of the Company’s non-vested stock under employee compensation plans as anitidilutive on a GAAP basis.

Logo – http://photos.prnewswire.com/prnh/20150113/168978LOGO

Source: Monster Worldwide, Inc.
Related stocks: EuronextAmsterdam:RAND NYSE:MWW OTC-PINK:RANJY
Related Links:
http://www.monster.com

Written by asiafreshnews

August 10, 2016 at 3:54 pm

Posted in Uncategorized

Randstad To Acquire Monster Worldwide To Transform The Way People And Jobs Connect

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-Enhances Randstad’s Digital Human Resources Services Strategy
-Monster to Operate as Separate and Independent Entity Under the Monster Name
AMSTERDAM and WESTON, Mass. /PRNewswire/ — Randstad Holding nv (AMS: RAND), a leading human resources services provider, and Monster Worldwide, Inc. (NYSE: MWW), a global leader in connecting jobs and people, today announced the signing of a definitive agreement under which Randstad will acquire Monster. Under the terms of the merger agreement, Randstad will pay $3.40 per share in cash, or a total purchase price of approximately $429 million (enterprise value).

By leveraging Monster’s multiple distribution channels to bridge two different but complementary parts of the extended recruiting industry, Randstad intends to build the world’s most comprehensive portfolio of HR services. Monster will continue operating as a separate and independent entity under the Monster name.

“In an era of massive technological change, employers are challenged to identify better ways to source and engage talent,” said Jacques van den Broek, CEO of Randstad. “With its industry leading technology platform and easy to use digital, social and mobile solutions, Monster is a natural complement to Randstad. The transaction is aligned with our Tech and Touch growth strategy and reflects our commitment to bringing labor supply and demand closer together to better connect the right people to the right jobs. We look forward to welcoming the Monster team and working together to shape the evolving global job industry.”

“Joining Randstad provides a unique opportunity to accelerate our ability to connect more people to more jobs,” said Tim Yates, CEO of Monster. “Together with Randstad, Monster will be better positioned to fulfill our core mission, and our employees will benefit from becoming part of a larger, more diversified company. Equally important, this transaction offers immediate value to our shareholders. We are excited to join and be supported by Randstad, as we continue to build the best recruiting media, technologies, and platforms. We look forward to working with the Randstad team to ensure a smooth transition.”

Strategic and Financial Benefits

Brings Together Complementary Visions to Lead Transformation: Randstad and Monster have a shared vision for the global job industry, which is rapidly transforming as a result of technology advances. The transaction is intended to accelerate their ability to develop new and innovative capabilities that deliver greater value to job seekers and employers by bringing labor supply and demand closer together.

Creates Most Comprehensive and Technologically Advanced Capabilities for Human Resources Services: Randstad continues to enhance its business model in the rapidly shifting landscape, placing annually more than 2 million people worldwide through its network of more than 4,500 branches and client-dedicated services. With the addition of Monster’s leading recruiting media, technologies, and platforms which connect people and jobs in more than 40 countries, Randstad intends to further expand its services to offer both clients and candidates tools for increased efficiency and engagement, connecting more people to more jobs.

Financially Compelling: The transaction is expected to be immediately accretive to Randstad earnings per share.
Terms of the Agreement

Under the terms of the merger agreement, Randstad has agreed to commence a tender offer, through a wholly-owned subsidiary, to acquire all of the outstanding shares of Monster common stock for $3.40 per share in cash. The Boards of Directors of both Randstad and Monster have unanimously approved the terms of the merger agreement, and the Board of Directors of Monster has resolved to recommend that shareholders accept the offer, once it is commenced. The consideration represents a 22.7% premium to Monster’s closing stock price on August 8, 2016, the last trading day prior to today’s announcement and a 30.1% premium to the 90 day volume weighted average stock price. The purchase price implies an enterprise value to LTM 6/30/2016 Adjusted EBITA multiple of 8.9x (excluding stock based compensation) and 10.3x (including stock based compensation). The acquisition is structured as an all-cash tender offer for all outstanding issued common stock of Monster followed by a merger in which remaining shares of Monster would be converted into the same U.S. dollar per share consideration as in the tender offer. The transaction does not have a financing condition and is expected to be completed in the fourth quarter of 2016, subject to regulatory approvals.

Financing and Approvals

Randstad intends to finance the acquisition through its existing credit facilities. The transaction is subject to the satisfaction of customary closing conditions, including the tender of the majority of the outstanding Monster shares and the expiration or earlier termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the approval of the European Commission (or the approval by those national competition authorities in the European Union that have jurisdiction as a result of a referral of the transaction under the EU Merger Regulation (Council Regulation 139/2004 of the European Union)) of the transaction pursuant to the EU Merger Regulation. Monster is expected to be delisted from the NYSE and integrated into Randstad thereafter.

Randstad M&A Update

Randstad has used M&A to accelerate its strategy during the last nine months. Randstad’s balance sheet is expected to remain solid after the closing of the recent string of acquisitions (Net Debt/EBITDA will remain well below 1.5x, compared to its policy to remain below 2x). The cumulated impact of M&A, announced during the last nine months, on Randstad’s revenue will be ~ EUR 2 billion on an annualized basis. The main focus for Randstad going forward with respect to acquired companies will be on integration and implementation. As such Randstad will reduce the pace of M&A and it is expected to limit this in the medium term to around EUR 100 million.

Advisors

Wells Fargo Securities is serving as exclusive financial advisor to Randstad and Jones Day is serving as legal counsel. Evercore Group L.L.C. is serving as exclusive financial advisor to Monster and Dechert LLP is serving as legal counsel.

About Randstad

Randstad specializes in solutions in the field of flexible work and human resources services. Their services range from regular temporary staffing and permanent placements to Inhouse Services, Professionals, Search & Selection, outplacement, and HR Solutions. Randstad Group is one of the leading HR services providers in the world, with top-three positions in Argentina, Belgium & Luxembourg, Canada, Chile, France, Germany, Greece, India, Mexico, the Netherlands, Poland, Portugal, Spain, Switzerland, the UK, and the United States, as well as major positions in Australia and Japan. In 2015, Randstad had approximately 29,750 corporate employees and around 4,473 branches and Inhouse locations in 39 countries around the world. Randstad generated revenue of EUR 19.2 billion in 2015. Randstad was founded in 1960 and is headquartered in Diemen, the Netherlands. Randstad Holding nv is listed on the Euronext Amsterdam, where options for stocks in Randstad are also traded. For more information, see http://www.randstad.com.

About Monster Worldwide

Monster Worldwide, Inc. (NYSE: MWW) is a global leader in connecting people to jobs, wherever they are. For more than 20 years, Monster has helped people improve their lives with better jobs, and employers find the best talent. Today, the company offers services in more than 40 countries, providing some of the broadest, most sophisticated job seeking, career management, recruitment and talent management capabilities. Monster continues its pioneering work of transforming the recruiting industry with advanced technology using intelligent digital, social and mobile solutions, including our flagship website Monster.com® and a vast array of products and services. For more information visit http://www.monster.com/about.

Additional Information

This press release and the description contained herein is for informational purposes only and is not a recommendation, an offer to buy, or the solicitation of an offer to sell any shares of Monster’s common stock. The tender offer referenced in this press release has not commenced. Upon commencement of the tender offer, Randstad North America, Inc. and its wholly-owned subsidiary, Merlin Global Acquisition, Inc. (“Merger Sub”), will file with the U.S. Securities and Exchange Commission (the “SEC”) a Tender Offer Statement on Schedule TO containing an offer to purchase (the “Offer to Purchase”), a form of letter of transmittal (the “Letter of Transmittal”) and other related documents and, thereafter, Monster will file with the SEC a Solicitation/Recommendation Statement on Schedule 14D9 with respect to the tender offer. Randstad, Merger Sub and Monster intend to mail documents to the shareholders of Monster. THESE DOCUMENTS, AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TENDER OFFER AND MONSTER SHAREHOLDERS ARE URGED TO READ THEM CAREFULLY WHEN THEY BECOME AVAILABLE. Shareholders of Monster will be able to obtain a free copy of these documents (when they become available) and other documents filed by Monster, Randstad or Merger Sub with the SEC at the website maintained by the SEC at http://www.sec.gov. In addition, shareholders of Monster may obtain a free copy of these documents (when they become available) by visiting the “Investors” section of Monster’s website at http://ir.monster.com/.

The Offer to Purchase is not being made to holders of (nor will tenders be accepted from or on behalf of holders of) shares of Monster’s common stock in any jurisdiction in which the making of the Offer or the acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In those jurisdictions where applicable laws or regulations require the Offer to Purchase to be made by a licensed broker or dealer, the Offer to Purchase shall be deemed to be made on behalf of Merger Sub by one or more registered brokers or dealers licensed under the laws of such jurisdiction to be designated by Merger Sub or Randstad.

Forward-Looking Statements

The statements included in this press release contain forward-looking statements, which are generally statements that are not historical facts. Forward-looking statements can be identified by the words “expects,” “anticipates,” “believes,” “intends,” “estimates,” “plans,” “will,” “outlook” and similar expressions. Forward-looking statements are based on management’s current plans, estimates, assumptions and projections, speak only as of the date they are made and include without limitation statements regarding the planned completion of the tender offer and the merger, statements regarding the anticipated filings and approvals relating to the tender offer and the merger, statements regarding the expected completion of the tender offer and the merger and statements regarding the ability of Merger Sub to complete the tender offer and the merger considering the various closing conditions. Randstad and Monster undertake no obligation to update any forward-looking statement in light of new information or future events, except as otherwise required by law. Forward-looking statements involve inherent risks and uncertainties, most of which are difficult to predict and are generally beyond the control of either company, including the following: (a) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement; (b) the inability to complete the transaction due to the failure to satisfy conditions to the transaction; (c) the risk that the proposed transaction disrupts current plans and operations; (d) difficulties or unanticipated expenses in connection with integrating Monster into Randstad; (e) the risk that the acquisition does not perform as planned; and (f) potential difficulties in employee retention following the closing of the transaction. Actual results or outcomes may differ materially from those implied by the forward-looking statements as a result of the impact of a number of factors, many of which are discussed in more detail in the public reports of each company filed or to be filed with the SEC or the Amsterdam Stock Exchange.

Logo – http://photos.prnewswire.com/prnh/20150113/168978LOGO
Logo – http://photos.prnewswire.com/prnh/20160808/396614LOGO

Source: Monster Worldwide, Inc.
Related stocks: EuronextAmsterdam:RAND NYSE:MWW OTC-PINK:RANJY
Related Links:
http://www.randstad.com
http://www.monster.com

Written by asiafreshnews

August 10, 2016 at 3:39 pm

Posted in Uncategorized

Copyrobo Introduces a New Generation Copyright Service That Conforms to New EU Regulation eiDAS

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HO CHI MINH CITY, Vietnam /PRNewswire/ —

In less than 60 seconds, Copyrobo Service provides you legal proof of your copyright, which is admissible to any court among the 28 EU members.

(Logo: http://photos.prnewswire.com/prnh/20160805/395954LOGO )

(Photo: http://photos.prnewswire.com/prnh/20160805/395952 )

(Photo: http://photos.prnewswire.com/prnh/20160805/395953 )

Copyrobo, an internationally recognized mobile and web application, enables individuals to legally protect their copyrights across the world in just a few seconds. Copyrobo supports an environment that allows creators to share their work as they wish with full legal protection.

Copyrobo Service complies with new EU Regulation eiDAS, which introduced the concepts of qualified trust service provider and qualified electronic time stamp. (No 910/2014, valid from 1st July 2016.) The regulation notes that “A qualified electronic time stamp issued in one Member State shall be recognized as a qualified electronic time stamp in all Member States.” (Article 41/3)

Copyrobo partners with Qualified Trust Service Providers and Trusted Timestamp Authority, which enables individuals to protect their work in European Union countries, Turkey and the United States. Users of Copyright Service can obtain ”Qualified electronic time stamp” proof (10 – 60 second) from European “Qualified trust service providers”, which means proof will be legally admissible in the courts of 28 EU Members.

“Copyright In A Click”
WEB IOS ANDROID CHROME

ABOUT US. Copyrobo is a Vietnam based start-up that has created a new generation copyright protection that stops copyright infringement before it happens, fosters the free flow of creative products, and ensures legal compliance throughout Europe, United States and Turkey. “We have come a long way since inception with our globally recognized copyright protection app. We are currently expanding the coverage areas and aim to offer protection in every country in the world,” says co-founder Hasan Kurtulus.

Source: Copyrobo

Written by asiafreshnews

August 10, 2016 at 3:34 pm

Posted in Uncategorized

World First: Pokémon Go master completes his global quest in Australia

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Nick Johnson catches final region specific Pokémon Kangaskhan in Sydney

SYDNEY /PRNewswire/ — Pokémon Go master Nick Johnson, the first person to catch all Pokémon available in the US, has completed his global quest to “catch ’em all” after visiting Paris, Hong Kong and Sydney.

Logo – http://photos.prnewswire.com/prnh/20110121/SF33870LOGO-b

Sponsored by Expedia, Nick is the first person to travel around the world and successfully capture all regional-exclusive Pokémon, including Mr. Mime in Paris, Farfetch’d in Hong Kong and, lastly, Kangaskhan in Sydney. Of the 151 Pokémon in the game, Johnson caught all 142 characters available in the US within the first two weeks of the game’s release. His international efforts bring Johnson’s total Pokémon tally to 145. The remaining six are yet to be released. Johnson has caught a total of 5,000 Pokémon so far.

The Expedia Bear is traveling with him on his journey. Johnson and the Expedia Bear have traveled to Tokyo to continue the adventure.

“We’re delighted to have been able to help Nick live out his Pokémon dream and travel far and wide to literally ‘catch ’em all’. Nick’s journey is an exciting example of how Pokémon Go is turning gamers into travellers, redefining tourist attractions and bringing together a whole community,” said Georg Ruebensal, Managing Director of Expedia Brand for Australia and New Zealand.

“The game is also encouraging people to become tourists in their own cities by getting players outside and exploring local landmarks they may have not seen before. Pokémon Go is now another way to travel, meet new people and explore the world.”

Highlights from his trip include:

Catching Pokémon in Central Park, New York, the same time as Justin Bieber
Losing 8-10 pounds (3-4 kilograms) in two weeks from all the walking
Catching Pokémon underneath the Eiffel Tower (which is a big Pokémon hotspot)
Playing the game in front of the Sydney Opera House
Not sleeping in Hong Kong in order to catch Farfetch’d
To download images of his trip in Sydney, see here: https://www.dropbox.com/sh/2de45w35af27ezp/AADl93VI6szqqQMJ53cC-m_Ua?dl=0

About Expedia.com
Expedia.com® is one of the world’s largest full service travel sites, helping millions of travelers per month easily plan and book travel. Expedia.com (https://www.expedia.com/, 1-800-EXPEDIA) aims to provide the latest technology and the widest selection of top vacation destinations, cheap tickets, hotel deals, car rentals, destination weddings, cruise deals and in-destination activities, attractions, services and travel apps. With the Expedia® Best Price Guarantee, Expedia.com customers can get the best rates available online for all types of travel.

Expedia, Expedia.com, Expedia Rewards, Find Yours, Vacation Deprivation and the Airplane logo are either trademarks or registered trademarks of Expedia, Inc. in the U.S. and/or other countries. [Pokémon and Pokémon Go are trademarks of Nintendo of America Inc. and Nintendo Co., Ltd., respectively.] All other trademarks and copyrights are property of their respective owners. Hotels.com, LP is not associated or otherwise affiliated with or licensed by Nintendo. 2016 Expedia, Inc. All rights reserved. CST # 2029030-50.

Source: Expedia.com
Related stocks: NASDAQ-NMS:EXPE
Related Links:
http://www.expedia.com

Written by asiafreshnews

August 10, 2016 at 3:12 pm

Posted in Uncategorized

Shortlists Announced for 2016 FT/OppenheimerFunds Emerging Voices Awards

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Artists from emerging-market nations submitted entries in art, fiction, and film

More than 790 submissions from 60+ emerging-market countries

NEW YORK /PRNewswire/ — August 5, 2016 – OppenheimerFunds and the Financial Times today announced the finalists for the 2016 FT/OppenheimerFunds Emerging Voices Awards. For the second year, artists from emerging-market nations were chosen in the categories of art, fiction and film. The finalists in each category were chosen from longlists of 10 entrants in each category, who in turn were selected from 797 entries from 64 emerging-market countries.

Countries that submitted to the 2016 Emerging Voices Awards.
Countries that submitted to the 2016 Emerging Voices Awards.
Photo – http://photos.prnewswire.com/prnh/20160808/396399-INFO

“It was an exciting experience to be a part of the judging process for the second year in a row,” said Michael Skapinker, associate editor of the Financial Times and chair of the judges. “It was an honour for me and our panel of judges to have the opportunity to examine the work of these gifted artists and we are thrilled now to be able to share that talent.”

The winners in each category will be announced at a gala awards ceremony on September 26 in New York City. All shortlisted artists will be invited to attend and winners will receive a $40,000 award. Two runners-up in each category will receive a $5,000 award.

“The quality of submissions we receive each year from emerging artists around the world is truly stunning,” said Justin Leverenz, Director of Emerging Markets Equities at OppenheimerFunds and Founder of the Emerging Voices Awards. “In our day to day work we look to identify undiscovered opportunities as part of our Emerging Markets investment philosophy. What a pleasure it has been to discover such incredible artistic talent and to have created a platform to showcase it on a global stage.”

The panel of judges for each of the three categories reviewed the submissions to find the artists whose work best demonstrates outstanding talent and exemplifies their art form and the voice of their region.

Fiction Finalists:

The Seventh Day by Yu Hua, Pantheon Books, China
Man Tiger by Eka Kurniawan, Verso Books, Indonesia
The Four Books by Yan Lianke, Chatto & Windus, China
Film Finalists:

Solon by Clarissa Campolina, Brazil
Olia by Tania Cattebeke, Paraguay
Impressions of War by Camilo Restrepo, Colombia
Art Finalists:

Noor Abuarafeh, Jordan
Syowia Kyambi, Kenya
Gareth Nyandoro, Zimbabwe
For more information, visit ft.com/emerging-voices or follow the conversation on Twitter at #EmergingVoices.

The Financial Times is one of the world’s leading business news organisations, recognised internationally for its authority, integrity and accuracy. Providing essential news, comment, data and analysis for the global business community, the FT has a combined paid print and digital circulation in excess of 800,000. Mobile is an increasingly important channel for the FT, driving more than half of total traffic.

OppenheimerFunds, a leader in global asset management, is dedicated to providing solutions for its partners and end investors. OppenheimerFunds, including its subsidiaries, manages more than $217 billion in assets for over 13 million shareholder accounts, including sub-accounts, as of June 30, 2016.

Founded in 1959, OppenheimerFunds is a high conviction asset manager with a history of providing innovative strategies to its investors. The firm’s 16 investment management teams specialize in equity, fixed-income, alternative, multi-asset, and factor-weighted-ETF strategies. OppenheimerFunds and its subsidiaries offer a broad array of products and services to clients, who range from endowments and sovereigns to financial advisors and individual investors. OppenheimerFunds and certain of its subsidiaries provide advisory services to the Oppenheimer family of funds, and OFI Global Asset Management offers solutions to institutions. For more information, visit oppenheimerfunds.com.

Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.

Before investing in any of the Oppenheimer funds, investors should carefully consider a fund’s investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.

Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc., 225 Liberty Street, New York, NY, 10281

© 2016 OppenheimerFunds Distributor, Inc. All rights reserved.

Source: OppenheimerFunds, Inc.
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Written by asiafreshnews

August 10, 2016 at 3:04 pm

Posted in Uncategorized

Enterprises Prepare for Tidal Wave of New Augmented and Virtual Reality Applications

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New Hardware Developments Shift Market Focus to Corporate and Gaming Verticals

SCOTTSDALE, Ariz. /PRNewswire/ — As new augmented and virtual reality (AR and VR) devices flood the market, ABI Research predicts enterprises will need to prepare for a tidal wave of new enterprise applications as the industry shifts its focus to the corporate and gaming verticals. AR usage in enterprise is on the rise, with smart glasses for gaming forecast to grow by 82% through 2021; VR will see similar crossover into enterprise, with an 88% CAGR through the same period.

Logo – http://photos.prnewswire.com/prnh/20151014/276887LOGO

“The promising use cases for AR in enterprise remain the primary drivers for the technology; though, it is worth noting that the consumer AR market opportunity is growing in presence,” says Eric Abbruzzese, Senior Analyst for ABI Research. “Simplistic AR mobile gaming is setting the stage for more advanced AR gaming experiences. Similarly, the primarily gaming-centric VR market is seeing uptake in corporate and enterprise usage in applications such as simulation, training, and visualized content creation.”

A combination of new hardware announcements and expanded content selection in both AR and VR are driving this shift in use case focus. Osterhout Design Group (ODG) showed off their new Project Horizon smart glasses display that offers a wide field of view; together with a partnership with OTOY, a consumer content push is coming from one of the leaders in enterprise smart glasses. In VR, HTC’s Vive for Business push opens up a compelling entry into VR for corporate and enterprise usage.

“These new combinations of hardware and software leads to a much more fluid relationship between AR and VR,” concludes Sam Rosen, Managing Director and Vice President at ABI Research. “The individual importance of AR for enterprise, and VR for consumers, cannot be understated, but with the potential for disruption on display, the limitations for these markets are far less constrictive than once thought.”

These findings are from ABI Research’s Augmented and Virtual Reality News, Updates, and Future Devices (https://www.abiresearch.com/market-research/product/1024741-augmented-and-virtual-reality-news-updates/). This report is part of the company’s Enterprise IT & OT Convergence sector (https://www.abiresearch.com/market-research/practice/future-enterprise-it-and-ot-convergence/), which includes research, data, and analyst insights.

About ABI Research

ABI Research stands at the forefront of technology market research, providing business leaders with comprehensive research and consulting services to help them implement informed, transformative technology decisions. Founded more than 25 years ago, the company’s global team of senior and long-tenured analysts delivers deep market data forecasts, analyses, and teardown services. ABI Research is an industry pioneer, proactively uncovering ground-breaking business cycles and publishing research 18 to 36 months in advance of other organizations. For more information, visit http://www.abiresearch.com.

Contact Info: Mackenzie Gavel

Tel: +1.516.624.2542

pr@abiresearch.com

Source: ABI Research
Related Links:
http://www.abiresearch.com

Written by asiafreshnews

August 10, 2016 at 3:00 pm

Posted in Uncategorized