YEARLY ARCHIVES
  • Skyview Capital’s NewNet Communication Technologies to sell its RCS Business to Samsung

    SEOUL, Korea & MISSISSAUGA, Ontario – November 15, 2016 – Samsung Electronics Co., Ltd. (“Samsung”) today announced its acquisition of NewNet Communication Technologies’ RCS Business (now being operated as “NewPace”) a leading provider of Rich Communication Services (RCS) infrastructure and services. NewNet Communication Technologies, BV is a portfolio company of global private investment firm Skyview Capital. The acquisition reinforces Samsung’s commitment to RCS as mobile networks transition to all IP-based networks and services.

    Founded in 2009 as NewPace Technology Development Inc., the RCS Business provides Software Development, Systems Operations, and Applications support to a world-wide base of customers. Having developed large-scale VoIP offerings and implemented global Instant Messaging products, the NewPace team has substantial experience in telecommunications development and operations, and services a wide variety of global clients with tenured expertise in delivering robust, high availability and scalable telecom solutions.

    “We have enjoyed working with the RCS team during a time of significant transition within the industry,” said Alex Soltani, Chairman and CEO of Skyview Capital. “This transaction is a testament to our investment thesis of identifying best in class technologies and transforming them into highly strategic platforms within the markets they serve.  We hope for continued success under Samsung’s ownership.”

    About Skyview Capital

    Skyview Capital is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and manufacturing. By leveraging its operational resources and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 25 transactions within its target market verticals. Visit www.skyviewcapital.com.

    About Samsung Electronics Co., Ltd.

    Samsung inspires the world and shapes the future with transformative ideas and technologies. The Company is redefining the worlds of TVs, smartphones, wearable devices, tablets, cameras, digital appliances, medical equipment, network systems, and semiconductor and LED solutions. For the latest news, please visit the Samsung Newsroom at news.samsung.com.

    About NewNet Communication Technologies, BV

    NewNet Communication Technologies, BV provides next generation mobile technology solutions. The company offers mobile messaging, secure transaction processing, interactive voice response, real time charging and rating, and broadband wireless and network optimization solutions. Additionally, it provides product and custom application development, installation, training, and network engineering and management services. NewNet Communication Technologies BV is a wholly owned portfolio company of Skyview Capital. Visit www.newnet.com.

    For additional information, please contact Shrikar Kasturi at (214) 797-8623 or via email at skasturi@skyviewcapital.com.

  • Samsung Acquires Rich Communications Services Business from Skyview Capital’s NewNet Communication Technologies

    Read original article here: https://news.samsung.com/global/samsung-acquires-rich-communications-services-business-from-skyview-capitals-newnet-communication-technologies

    Samsung Electronics today announced its acquisition of NewNet Communication Technologies (Canada), Inc. (“NewNet Canada”), a company operating Rich Communications Services (RCS) business within NewNet Communication Technologies. Previously known as NewPace prior to its acquisition by NewNet Communication Technologies, the company is a leading provider of RCS infrastructure and services. The acquisition reinforces Samsung’s commitment to RCS as mobile networks transition to IP-based networks and services.

    This acquisition is a critical milestone not just for Samsung but also for the communications industry. As an end-to-end GSMA-compliant RCS solution, it will accelerate the deployment of RCS-enabled networks, providing consumers with a ubiquitous standards-based messaging and communications platform. The acquisition will also enable Samsung to offer interoperable server solutions for mobile operators that do not already have their own RCS infrastructure. By driving significant value for operators and consumers, the mobile communications market can benefit from the broader communications ecosystem.

    Consumers will benefit from an advanced messaging experience with features such as enhanced calling, group chat, and the ability to easily share and transfer large files including multimedia and high-resolution photos. Unlike other messaging apps in the market, users will be able to communicate on any network, with an RCS-enabled device as well as SMS-only devices.

    NewNet Canada, based in Halifax, Nova Scotia, will continue to operate independently under the existing leadership of Brent Newsome and Gavin Murphy as a wholly owned subsidiary of Samsung Electronics Canada Inc.

    About NewNet Communication Technologies, BV

    NewNet Communication Technologies, BV provides next generation mobile technology solutions. The company offers mobile messaging, secure transaction processing, interactive voice response, real time charging and rating, and broadband wireless and network optimization solutions. Additionally, it provides product and custom application development, installation, training, and network engineering and management services. NewNet Communication Technologies BV is a wholly owned portfolio company of Skyview Capital. Visit www.skyviewcapital.com

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  • VMware Sells 2 Units to Focus on Cloud (VMW)

    Read original article here: http://www.investopedia.com/news/vmware-sells-2-units-focus-cloud-vmw/#ixzz4KR9OhTRb

    By Shoshanna Delventhal, Investopedia

    VMware Inc. (VMW), recently a Dell-owned company, has announced the acquisition of its vRealize Business Enterprise and IT Benchmarking solutions by the global private investment firm Skyview Capital. The assets now owned by Skyview will form a new company under the name Digital Fuel SV LLC in which VMware will hold a minority stake. The selloff of vRealize will allow VMware to continue its commitment to cloud business and costing. (Also see: What the EMC-Dell Merger Means for VMware.)

    VMware’s parent company, EMC, had previously chosen Skyview as a buyer for Syncplicity in 2015. VMware called Skyview an excellent fit for the buy, with “an established track record of successfully acquiring and growing businesses through increased investments in sales, marketing and R&D.”

    VMware Focuses on Cloud Management

    VMware’s sale of its vRealize Business Enterprise (formerly known as Digital Fuel IT Financial Management) and IT Benchmarking solutions (formerly known as iTHC) marks a larger initiative to narrow focus on its cloud management platform (CMP) business and its remaining vRealize family of products. VMware’s remaining vRealize Suite features vRealize Business for Cloud, a separate and distinct product line from vRealize Business Enterprise. VMware’s investment in cloud capabilities involves the development of offering costing, pricing, consumption analysis for both private and public clouds, and more for IT organizations. (Also see: VMware Takes a Stab at Cloud Computing.)

  • Skyview Acquires Digital Fuel from VMware, Inc.

    LOS ANGELES, September 12, 2016 – Skyview Capital (“Skyview”), a global private investment firm, announced that it has acquired the VMware vRealize® Business™ Enterprise (formerly known as Digital Fuel IT Financial Management) and IT Benchmarking (formerly known as iTHC) business from VMware. Skyview has formed a new company under the name Digital Fuel SV, LLC (“Digital Fuel”).  VMware has invested in Digital Fuel and will continue to provide on-going support and services for mutual customers through a transition period.

    Digital Fuel is a leader in the rapidly growing IT Financial Management (ITFM) sector, which provides software tools that help CIOs, IT Managers, and Finance Managers oversee IT spending and budgets.  ITFM provides IT leaders with tools to manage their costs and services while also demonstrating the value provided by the IT function.

    Following VMware’s acquisition of the business five years ago, Digital Fuel has emerged as an industry leader in the ITFM sector, selling to blue-chip enterprise customers across multiple end markets including Financial Services, Government, Education, and Healthcare. The business has helped customers optimize their IT spend and realize significant cost savings, while being more responsive to internal customer needs.

    “The ability to understand IT costs and risks has become a top priority for senior executives around the globe, and Digital Fuel is well positioned to address their needs. With VMware’s continued minority interest and our operationally hands-on leadership approach, we expect to drive meaningful value for our customers, partners, and employees globally. We look forward to making near-term strategic acquisitions to expand Digital Fuel’s product and service offerings, while enhancing its value proposition in the industry,” said Alex Soltani, Chairman and CEO of Skyview.

    “With our increased focus on customer adoption of the private cloud and extending our support for multi-cloud environments, it was key to identify the right home for our IT Financial Management product lines and team,” said Ajay Singh, senior vice president and general manager, Cloud Management Business Unit of VMware. “We expect Skyview Capital will accelerate the innovation and investment in the vRealize Business Enterprise and IT benchmarking solutions to the benefit of our mutual customers. During the transition, we will work with Digital Fuel to provide customers with on-going support and services.”

    Terms were not disclosed, but VMware does not expect this transaction to have a material impact on VMware’s financial statements.

    About Skyview Capital, LLC
    Skyview Capital is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and manufacturing. By leveraging its operational resources and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 25 transactions within its target market verticals. Visit www.skyviewcapital.com.

    About Digital Fuel
    Digital Fuel is an IT financial management (ITFM) tool that provides transparency and control over the costs of cloud environments and quality of IT services. Its suite of products allow businesses to optimize costs and sourcing across internal virtual infrastructure/private cloud and public cloud.  Infrastructure teams use Digital Fuel to understand the costs of supplying private and public cloud environments, while CIOs and IT executives can understand the costs of supplying IT services.

    For additional information, please contact Matt Oehlmann at (310) 273-6000 or via email at moehlmann@skyviewcapital.com

    VMware, vRealize, and vRealize Business are registered trademarks or trademarks of VMware, Inc. in the United States and other jurisdictions.

  • Skyview Capital Acquires VMware’s vRealize Business Enterprise and IT Benchmarking Solutions

    LOS ANGELES, September 12, 2016 – Skyview Capital, a global private investment firm, today announced that it has acquired the VMware vRealize® Business™  Enterprise (formerly known as Digital Fuel IT Financial Management) and IT Benchmarking (formerly known as iTHC) business including customer relationships, core employees responsible for the products and the associated intellectual property (IP) of the products from VMware. Terms were not disclosed, but VMware does not expect this transaction to have a material impact on VMware’s financial statements.

    VMware vRealize Business Enterprise and IT benchmarking solutions provide transparency and control over costs and quality of IT services. Skyview Capital has formed a new company—Digital Fuel SV, LLC—around the acquired products and team, and will invest in this entity to accelerate the growth, innovation, adoption and support of these solutions. VMware has an equity investment in Digital Fuel SV LLC and will work with the company to provide ongoing support and services for the customers through the transition. VMware retains vRealize Business for Cloud, a separate product line developed in-house and introduced in October 2014.

    vRealize Business Enterprise and IT Benchmarking are leading solutions in the rapidly growing, billion dollar IT Financial Management (ITFM) sector, that provides software tools that help CIOs, IT Managers and Finance Managers that manage IT spending and budgets.  ITFM provides IT leaders with tools to manage their costs and services while also demonstrating the value provided by the IT function.

    Following VMware’s acquisition of Digital Fuel five years ago, VMware emerged as a leader in the ITFM sector, selling to customers across multiple verticals including Financial Services, Government, Education and Healthcare.  vRealize Business Enterprise and IT Benchmarking solutions have helped customers optimize their IT spend and realize significant cost savings, while being more responsive to internal customer needs.

    “The ability to understand IT costs and risks has become a top priority for senior executives around the globe, and Digital Fuel is well positioned to address their needs. With VMware’s continued minority interest and our operationally hands-on leadership approach, we expect to drive meaningful value for our customers, partners, and employees globally. We look forward to making near-term strategic acquisitions to expand Digital Fuel’s product and service offerings, while enhancing its value proposition in the industry,” said Alex Soltani, Chairman and CEO of Skyview Capital.

    “With our increased focus on customer adoption of the private cloud and extending our support for multi-cloud environments, it was key to identify the right home for our IT Financial Management product lines and team,” said Ajay Singh, senior vice president and general manager, Cloud Management Business Unit, VMware. “We expect Skyview Capital will accelerate the innovation and investment in the vRealize Business Enterprise and IT benchmarking solutions to the benefit of our mutual customers. During the transition, we will work with Digital Fuel to provide customers with on-going support and services.”

    About Skyview Capital, LLC
    Skyview Capital is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and manufacturing. By leveraging its operational resources and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed over 25 transactions within its target market verticals. Visit www.skyviewcapital.com.

    Contact:
    Shrikar Kasturi
    Sr. VP – Mergers & Acquisitions
    Skyview Capital, LLC
    (214) 797 8623
    skasturi@skyviewcapital.com

     

    VMware, vRealize, and vRealize Business are registered trademarks or trademarks of VMware, Inc. in the United States and other jurisdictions.

  • Growth Decisions and Their Impact on Cash

    Read original article here: https://www.equities.com/news/growth-decisions-and-their-impact-on-cash

    So your company has gained traction and has reached a point of success. The pressure for growth doesn’t dissipate as it’s critical that executives demonstrate the capability to enhance the bottom line and widen the profit margin. The executive’s appetite for additional risk in order to expand the size of the business exposes the company to additional internal and external environmental factors. One of those internal factors is the use of available cash towards the funding of growth opportunities. The decision for growth can be applied over time, as is the case of organic growth, or can be executed quickly through an acquisition.
    Organic growth is usually a slow process that, over time, drains cash flow as resources are brought on to expand research and development, manufacturing, marketing and sales functions. Though organic growth doesn’t have large upfront costs, it does require a constant investment in operations. To stay competitive, management has to be careful with a slow-growth strategy, as some industries are dynamic and change quickly, which could leave the company behind if it doesn’t react fast enough. It’s important for the company to consider its overall position in the marketplace to determine if growing organically is the best solution. If the company operates in a fast moving industry, it may want to consider the benefits of an acquisition.

    An acquisition usually involves an outlay of cash, debt and/or equity. Any of these options have individual challenges that place a strain on capital resources.

    Cash: The release of cash obviously impacts the liquidity of the company which doesn’t just end with the acquisition. It’s highly probable that the company will have to spend more cash as it begins to merge the operations of both companies. One of the largest expenditures will be restructuring as the acquiring company begins to eliminate the redundancies between the two businesses. Outlay of cash will have an immediate impact on working capital, thereby reducing liquidity. With reduced liquidity comes the need to closely monitor the timing of cash receipts and payouts which management must balance along with the efforts associated with the acquisition.

    Debt: The benefit of issuing debt or borrowing from a financial institution is that it will not require an immediate reduction of the Company’s working capital, but it will burden it with future interest costs. Borrowing from lenders usually bring upon debt covenants that burden the company with restrictions. These restrictions are designed to limit the loan holders risk and control certain aspects of the company. To avoid some of these restrictions that are imposed by financial institutions, the company can also consider the benefits of issuing bonds. Bonds usually are less restrictive as the terms can be controlled by the issuing company.

    However, these terms have to be in alignment with the company’s risk profile as measured against comparable profiles for similar bond offerings. Different types of bonds can be offered which will impact the marketability and interest rate. For example, convertible bonds have features that allow the bondholder to convert the bond to equity during some designated period based on varying contingencies. These types of bonds need to be carefully analyzed by the management to ensure the outcome of any conversion falls within their range of acceptance for diluting ownership.

    Equity: Issuing equity may dilute the interest of the shareholders, but it usually doesn’t place any immediate or future cash flow strain on the company. Equity can be distributed through different products: common shares, preferred shares, and warrants. Each of these products has advantages and disadvantages that need to be assessed by management to ensure that it’s in balance with the stakeholders’ tolerance level.

    Common Shares: These shares can be issued to expand ownership and attract investment into the company. The advantage of common shares is that stock dividends are not mandatory, but the disadvantage is that additional ownership reduces the current ownership’s interest in the company and reduces their voting power. The new investors’ interest may not be in complete alignment with management which could cause further disruptions to the overall performance of the company.

    Preferred Stock: This type of stock is considered a financial product that falls between bonds and common stock. Preferred shares/stock commonly have a fixed dividend that gets paid before common shareholders and normally do not have any voting rights. The benefit of preferred stock over bonds is that the fixed dividend doesn’t have to be paid as it can be suspended by the board of directors. Preferred stock can take the form of many types: convertible, cumulative and callable.

    Convertible preferred stock can be converted to a set number of common stock at or before an established date. Preferred stock usually has a cumulative feature that requires the company to pay out all prior withheld dividends prior to any dividend being paid to common shareholders. Some preferred stock can have a callable feature that will allow the company to purchase these shares back based on parameters that can be pre-established prior to issuance.

    Stock Warrants: This is another form of ‘currency’ that a company could use for acquisition purposes. This product gives the holder a right to buy securities in the company at a stated price and within a stipulated timeframe. This right is not in the form of an obligation on either party. However, in order to accept this as a form of consideration, the holder has to believe that the fair value of the stock will sufficiently exceed the stated purchase price prior to the expiration date of the warrant. It’s important that the company consider the dilution impact that stock warrants will have on the ownership if and when they are converted.

    Whether the company decides to grow organically or through acquisitions, it must place emphasis on cash management. As we discussed, financing growth can take on many forms but they all ultimately lead to an outlay of cash. Understanding the owners’ appetite for timing of these cash outlays and the potential for diluting ownership are ultimately the two most important considerations.

    Jeffrey Luft resides in New York and is an active CPA. He currently works for NewNet Communication Technologies (a Skyview Capital portfolio company) and previously worked for Arthur Andersen, Goldman Sachs and KPMG.

  • What Startups Need to Know When Raising Money

    Read original article here: https://www.equities.com/news/what-startups-need-to-know-when-raising-money

    There are many options to finance a business. While making the correct financial choice will lead to success, implementing the wrong type of financing will cause a company to fail. Many startup businesses are unable to fund their operations with just operational cash flow. Therefore, it’s critical that the appropriate financing be obtained with minimal interruption to the growth of the business. This means that the business not only needs to have enough cash flow to fund the day-to-day activity, but it also must obtain sufficient funds to promote investment in capital assets and/or research & development.

    Balancing the financial needs of a company is over looked by many entrepreneurs. This is evident in the statistics which reflect that 25% of startups fail within the first year of business. Worse is that approximately 50% of the startups fail after four years of business. Many of these failures are the result of an inadequate business plan, aggressive pricing of product/service, stiff competition from established industry leaders, and/or the lack of a basic fundamental understanding of financing.

    A startup is driven by a great idea that captures the owner’s desire to entertain some level of risk. This risk may be in the form of one’s reputation, time and/or assets. Typical startups are initially formed with the owner’s own capital. Additional capital may come from the owner’s family or friends which may be sufficient for small companies to finalize their infrastructure and to keep their doors open for a limited time. Other owners have the mass market dream and aspire taking on greater risk for the betterment of their idea. Entering the mass market requires a different financial strategy and involves a more complex business structure. In this case, it’s important the business not be solely dependent on the entrepreneur but rather capitalize on the relationships it maintains with individuals within and outside the organization. A key resource for the stability of the company is the partnership that it maintains with the individuals associated with its financing.

    Common Types of Financing for Startups

    There are many financing alternatives available to a company, and each one entertains some level of risk. The responsible parties must decide between paying interest associated with debt or diluting the ownership structure. Many times the owners do not want to give up their stake and opt for debt financing which burdens the company with interest expense that reduces its cash flow. Some debt financing comes with financial covenants that restrict the company from making capital investments as certain financial ratios (e.g. working capital) must be maintained. Therefore, it is necessary for the stakeholders to consider various equity financing alternatives before locking into any specific structure. Some of these equity alternatives include:

    • Angel investor – this is an individual investor that invests in the company through the purchase of equity interest or will lend the company money at a premium interest rate. This is usually an investment that is considered seed money. Angel investors are high net-worth individuals that are willing to take on moderate to high risk in order to make investments that can yield a high return. Angel investors typically seek companies that are slightly beyond the startup phase and need funds to broaden research and development and/or expand marketing. The downside with Angel investors is they usually take large stakes of ownership and seek out quick exits to maximize their returns.
    • Venture Capital – similar to an Angel investor a in early-stage businesses and seeks high returns. Venture Capital companies represent a pool of investors that look for high-risk private companies that have the potential to be very profitable. A partnership with a venture capital company usually leads to an initial public offering.
    • IPO – Initial public offering is a long and enduring process. The company will usually engage an underwriter/investment bank, SEC lawyers and auditors to assist them with the IPO process. The services provided by these professionals will be very expensive and will take several months to complete. A registration Form S-1 will be filed and reviewed by the SEC. Once the SEC completes its review, the registration will allow the underwriter syndicate team to sell the shares to the public. Smaller companies that are looking to raise $50 million or less can consider the SEC’s Regulation A+, which is less involved than filing a Form S-1. Under Regulation A+ tier 2, the state compliance (Blue Sky Law) was eliminated and allows funds to be raised from qualified investors (unlike Regulation D – Rule 56 (c) which requires funds be raised from accredited investors only). Regulation A+ is a good option for stable private companies that need to raise capital without going through the extensive IPO process.
    • Reverse Mergers – when a private company wants to go public quickly it usually considers the benefits of a reverse merger. Typically, a private company will find a public shell company that is significantly underperforming (usually has a toxic structure) and will complete a due diligence. If the private company is satisfied with the due diligence’s results and considers the price to acquire the shell company reasonable, then it will purchase the public company. This structure will then allow the company to raise capital by selling shares to the secondary market within a short period of time. The complexity of this transaction varies if the acquired company is traded on a national exchange or the pink sheets. The downside of the reverse merger is that, though it’s cheaper than an IPO, the acquiring company will still have to pay for accounting and legal professional fees in addition to the purchase price of the public/shell company.
    • Private Equity – if the company is looking to bring in a partner to raise capital or unwind a significant portion of ownership then it can consider being acquired by a private equity company. Private equity companies will assist the company with realizing its full potential by not only providing it with capital resources but also offering industry expertise. Professionals at a private equity will know how to maximize the company’s value and work with management to create long term sustainable growth and success. Many private equity companies will want significant control over the company to ensure they have the ability to make the appropriate managerial decisions.  Private equity financing offers the owners a quick option to obtain capital or cash-out at a minimal cost when compared to IPO’s and reverse mergers.

    Selecting the appropriate financing alternative is one of the most important decisions for a profitable company. The company needs to insure that it selects the correct financing structure that is in line with its long-term goals and will allow it to enhance its overall value for the owners.

    Jeffrey Luft resides in New York and is an active CPA. He currently works for NewNet Communication Technologies (a Skyview Capital portfolio company) and previously worked for Arthur Andersen, Goldman Sachs and KPMG. 

    DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

  • CIOReview Selects VoltDelta for 100 Most Promising Oracle Solution Providers

    VoltDelta highlighted for delivering integrated and innovative cloud contact center solutions within the Oracle Service Cloud  

    Chicago, IL– February 1, 2016 – VoltDelta announced today that CIOReview Magazine has named VoltDelta to its list of the 100 Most Promising Oracle Solution Providers for 2015. A distinguished panel of CEOs, CIOs, VCs, analysts and the editorial board of the CIOReview selected the final 100 companies.

    “VoltDelta stood out as one of Oracle’s first partners to integrate a WebRTC solution within the Oracle Cloud Service for multimedia support in 2015,” said Jeevan George, Managing Editor, CIOReview. “VoltDelta’s integration within the Oracle Service Cloud benefiting customers, agents and managers with multichannel contact center support embodies our selection committee’s goal of spotlighting innovation that is changing the Oracle solutions landscape.”

    VoltDelta’s Oracle integration effectively merges the worlds of call and message handling with CRM-based contextual knowledge by enabling customer engagement management and reporting within familiar Oracle screens for agents and managers. A VoltDelta embedded media bar within the Oracle Service Cloud desktop makes it easy for agents to more intelligently engage with customers over calls, emails, chat and social media.

    “Enabling Oracle Service Cloud users with VoltDelta’s cloud contact service services means that organizations of all sizes can now deliver more personalized customer care to encourage loyalty and contribute to the bottom line,” said Jonathan Huberman, CEO of VoltDelta. “VoltDelta is honored to be recognized by CIOReview’s panel of experts and thought leaders as one of the most promising Oracle Solution Providers.”

    Read Jonathan Huberman’s perspective on Transforming Contact Centers into Cloud-based Customer Experience Centers in CIOReview here.

    Read original article here: http://www.voltdelta.com/about-us/news-events/press-releases/267-cioreview-names-voltdelta-top-100-oracle-solutions-provider

    About CIOReview

    CIOReview constantly endeavors to identify “The Best” in a variety of areas important to tech business. Through nominations and consultations with industry leaders, our editors choose the best in different domains. Find out more at www.cioreview.com.

    About VoltDelta 

    VoltDelta is a global cloud-based contact center provider with 35 years of experience. We perform intelligent, data-driven contact management to optimize your customer’s journey. VoltDelta rapidly tailors and integrates our multi-channel contact center solutions to enable you to increase revenue, boost retention and reduce operating costs with proven scalability and reliability. VoltDelta is part of NewNet Communication Technologies. For more information please visit: www.voltdelta.com.   Media Contact: Stephen Chirokas schirokas@voltdelta.com

  • xG Technology Completes Purchase of Integrated Microwave Technologies, LLC

    Strategic Accretive Acquisition Enables xG to Realize Immediate and Long-Term Financial,Operational and Technological Benefits 

    Sarasota, Florida—February 1, 2015— xG Technology, Inc. (“xG”) (Nasdaq: XGTIXGTIW), a leader in providing critical wireless communications for use in challenging operating environments, announced today that it has completed its acquisition of assets of Integrated Microwave Technologies, LLC (“IMT”) originally announced on Jan. 19, 2016. The acquisition was completed using debt financing from the seller and will require payoff over the next eighteen months.

    The acquisition of the IMT assets is expected to deliver significant benefits to xG in a number of areas. By aligning its operations and technology platforms with those of IMT, xG will be able to expand more deeply into markets it is currently active in, while opening growth possibilities in new sectors. xG gains immediate access to the IMT product line, which opens new cross-selling opportunities to xG’s existing customer base, and enriches its competitive offerings. Likewise, IMT can now fill the demonstrated need among its own customers for the kind of secure, rapidly-deployable mobile broadband solution that xMax is uniquely suited to fill.

    Finally, IMT’s manufacturing expertise is expected to drive additional operational, production and other cost efficiencies at xG. This and other aspects of the transaction will serve to yield compelling financial benefits to xG and prepare it realize even more growth.

    George Schmitt, CEO and Board Chairman of xG Technology, said, “We welcome the IMT family to be part of xG Technology and are delighted with the synergies that we see between the two companies. We expect these synergies to result in substantial reductions in, and avoidance of, costs that will total approximately $2MM per year. We would also like to thank Skyview Capital, the seller of IMT, for extending us this opportunity and for their assistance in helping ensure a timely closing of the acquisition.”

    Roger Branton, CFO of xG Technology, said, “This acquisition is expected to be cash flow positive from day one and accretive to the combined companies. xG and IMT each have distinctive strengths that will be even more pronounced by integrating our operations. In addition to broadening our capabilities to execute more effectively, this acquisition will make xG well-positioned from a financial standpoint to embark on its next phase of growth.”

    John Payne IV, newly-appointed President of the IMT Division of xG Technology, and a corporate officer of xG, said, “We at IMT are delighted to become a major part of xG Technology and look forward to working together to develop joint sales strategies and to take advantage of the synergies available to the combined entities.”

    Read original article here: http://www.xgtechnology.com/xg-technology-completes-purchase-of-integrated-microwave-technologies-llc/

    About xG Technology, Inc.

    Founded in 2002, xG Technology has created a broad portfolio of intellectual property that makes wireless networks more intelligent, accessible, affordable and reliable. The company is the developer of xMax, a patented all-IP cognitive radio network system that enables secure, robust mobile broadband communications for private, consumer and government networks. xMax can solve the crisis facing the wireless industry caused by data-hungry devices and applications that are straining network capacity. It eliminates the need to acquire scarce and expensive licensed spectrum, thus lowering the total cost of ownership for wireless broadband access.

    The xMax system delivers always-available voice, video and data services to both fixed and mobile users, and is interoperable with existing cellular and dedicated networks without being dependent on them. xMax incorporates advanced optimizing technologies that include spectrum sharing, interference mitigation, multiple-input multiple-output (MIMO) and software defined radio (SDR). These and other technologies make xMax ideal for wide area, as well as rapid emergency communication deployment in unpredictable environments and during fluid situations. xG offers solutions for numerous industries worldwide, including emergency response and public safety, military, telemedicine, urban and rural wireless broadband, utilities, and critical infrastructure.

    Based in Sarasota, Florida, xG has over 100 patents and pending patent applications. xG is a publicly traded company listed on the NASDAQ Capital Market where xG common stock is traded under the symbol XGTI and xG warrants are traded under the symbol XGTIW. For more information, please visit www.xgtechnology.com.

    About Integrated Microwave Technologies, LLC

    Integrated Microwave Technologies (IMT) is a leader in advanced digital microwave systems and a provider of engineering, integration, installation and commissioning services serving the Broadcast, Sports & Entertainment and MAG (Military, Aerospace & Government) markets. The company comprises the leading microwave brands Nucomm, RF Central and IMT, offering customers worldwide complete video solutions. Nucomm is a premium brand of digital broadcast microwave video systems. RF Central is an innovative brand of compact microwave video equipment for licensed and license-free sports and entertainment applications. IMT is a trusted provider of mission-critical wireless video solutions to state, local and federal police departments. More information can be found at www.imt-solutions.com.

    Cautionary Statement Regarding Forward Looking Statements

    Statements contained herein that are not based upon current or historical fact are forward-looking in nature and 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 reflect the Company’s expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties.  These statements include but are not limited to statements regarding the intended terms of the offering, closing of the offering and use of any proceeds from the offering. When used herein, the words “anticipate,” “believe,” “estimate,” “upcoming,” “plan,” “target”, “intend” and “expect” and similar expressions, as they relate to xG Technology, Inc., its subsidiaries, or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company’s actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

    For More Information:

    Media Relations
    Daniel Carpini
    xG Technology
    daniel.carpini@xgtechnology.com
    (941) 953-9035

    Investor and Analyst Relations
    James Woodyatt
    xG Technology
    james.woodyatt@xgtechnology.com
    (954) 572-0395

    Jody Burfening/Carolyn Capaccio
    LHA
    ccapaccio@lhai.com
    (212) 838-3777

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