AppNeta, the leading network performance monitoring solution for the distributed enterprise, today announces that it will be acquired by Broadcom, Inc. (NASDAQ: AVGO). In combination with Broadcom DX NetOps, AppNeta will provide IT teams at the world’s largest enterprises with a single platform to understand who is using which applications, how they are performing, and how the application delivery chain may impact performance or quality of service.
Enterprises worldwide have been turning to Cloud, SaaS, and Internet technologies to help transform their IT workflows in parallel with the growing trend toward decentralized work. This evolution has brought forth tremendous opportunity for IT to play a strategic role in guiding business transformation, but has also created significant blind spots for network operations teams when it comes to how end-users are experiencing business-critical applications. And poor end-user experience isn’t just an IT issue. Left unchecked, it can have far-reaching business impacts ranging from poor customer experience to diminished employee productivity to unrealized growth.
By combining AppNeta’s scalable end-to-end visibility with Broadcom’s award-winning and proven infrastructure and AIOps capabilities, the world’s largest enterprises running the most complex networks will now have access to the ultimate, single source of truth to support their cloud journey.
“At AppNeta, we have always invested in scale — whether that be enabling you to support hundreds of offices, tens of thousands of remote users, or make sense of millions of unique performance metrics every day,” said Matt Stevens, AppNeta’s CEO. “Now, by combining our unique technology with Broadcom’s unmatched infrastructure and AIOps expertise, IT leaders can feel empowered to embrace cloud transformation knowing that they have complete visibility from a single platform.”
AppNeta currently serves the enterprise market and has 3 out of the 5 largest corporations by market cap and 4 out of the 5 largest cloud providers as customers. And since the global COVID-19 pandemic began, AppNeta has grown its work-from-anywhere presence by more than 500%, thanks to the world’s new hybrid work reality.
The company’s success in the large enterprise market was accelerated after a strategic investment made by Rubicon Technology Partners in late 2017. By sharpening the focus on the needs of the world’s largest and most complex networks, Rubicon’s partnership enabled AppNeta to invest in key product and go-to-market initiatives that have driven record-level growth and customer retention.
“We are excited about the new Digital Experience Management (DEM) capabilities AppNeta will add to our DX NetOps network monitoring solutions. Hybrid cloud deployments, work from home and prevalence of SaaS-based applications have made enterprises incredibly reliant on the Internet to deliver business- critical applications to employees and customers,” said Serge Lucio, vice president and general manager, Enterprise Software Division, Broadcom. “Visibility and control for most performance management teams ends at corporate network boundaries. With AppNeta, DX NetOps solutions by Broadcom Software have visibility into Internet connections and can monitor and manage digital experiences for any user across any cloud, mobile, SaaS or remote work scenario.”
AppNeta is the only network performance monitoring solution that delivers visibility into the end-user experience of any application, from any location, at any time. With AppNeta’s SaaS-based solution, IT and Network Ops teams at large, distributed enterprises can quickly pinpoint issues that affect network and business-critical cloud application performance, regardless of where they occur. AppNeta is trusted by some of the biggest Fortune 1000 companies, including 3 out of the 5 largest corporations in the world, as well as 4 out of the 5 largest cloud providers.
CSafe Global Announces Acquisition of Softbox Systems to Create the Global Leader in Temperature-Controlled Shipping Solutions
CSafe Global, the leader in temperature-controlled container solutions for the pharmaceutical industry, announced today that it has acquired Softbox Systems, a provider of passive temperature-controlled packaging solutions for the pharmaceutical, life science and cold chain logistics industries, significantly enhancing CSafe’s passive product portfolio. Together, they will provide the most comprehensive suite of thermal shipping solutions and become a one-stop-shop for all pharmaceutical cold chain shipping needs, enabling delivery of critical temperature-sensitive products, including next generation biologics, cell and gene therapy, and mRNA therapies such as the COVID-19 vaccine.
The combined company, which will operate globally under the CSafe brand, will be the only cold chain platform with an end-to-end active air cargo and passive temperature-controlled packaging business spanning the complete spectrum of cold chain shipping solutions for the pharmaceutical and life sciences industries. Softbox’s well-regarded brands in the passive container space, such as SilverSkin, Silverpod and Tempcell, complement CSafe’s leading active product portfolio, particularly within air cargo. The acquisition will unlock opportunities for innovation as well as enhance CSafe’s sustainable and eco-friendly offerings, with new reusable and recyclable pallet and parcel solutions.
Around the globe, a large industry pipeline of life-saving pharmaceutical therapies with strict temperature profiles is accelerating the need for reliable, temperature-controlled shipping solutions. Moreover, future pharmaceutical advances will require a new generation of qualified fit-for-purpose packaging, along with sophisticated tracking technology, that also helps customers meet their sustainability and recycling goals.
“Through this combination, we will be the partner of choice for cold chain delivery of high value, temperature sensitive pharmaceutical therapies. Both CSafe and Softbox have proven to be reliable partners for customers seeking a secure way to deliver their life-enhancing products around the world,” said Patrick Schafer, CSafe CEO. “We’re thrilled to now offer our customers a platform that provides everything from the highest quality packaging to AI-enabled thermal and kinetic monitoring and logistics management.”
“Our businesses are each rooted in a commitment to excellent customer service and high product quality, which made this combination a natural fit,” said Kevin Valentine, CEO of Softbox. “Together we will proudly continue to partner with our global Pharmaceutical customers to devise and deliver the best solutions for their evolving cold chain shipping needs, supporting the delivery of temperature sensitive lifesaving medicines and vaccines.
“With the addition of Softbox’s product portfolio, CSafe strengthens its global infrastructure across air and ground while expanding its offerings for parcel delivery, all supported by the most advanced technology infrastructure,” said Todd Abbrecht, Co-CEO of Thomas H. Lee Partners, which first invested in CSafe in 2016. “We see an incredible opportunity for the combined company to serve as the international partner of choice for cold chain shipping solutions and remain on the forefront of innovation in the industry.”
“The acquisition of Softbox advances CSafe’s strategy to be the leading cold chain solutions provider with a full suite of products and services to meet the needs of its pharmaceutical customers around the globe,” said Ben Magnano, Co-Managing Partner of Frazier Healthcare Partners. “CSafe is an excellent platform to build upon and we, alongside our partners at THL, will continue to make investments to further strengthen the Company’s leadership position in pharmaceutical cold chain.”
As part of the acquisition, Softbox CEO Kevin Valentine will assume the role of president of CSafe’s Passive Temperature Controlled Packaging Division.
Terms of the transaction were not disclosed.
Netrush Acquires Sellozo, AI-driven martech company supporting billions in transactions
Netrush, the eCommerce accelerator partnering with premium brands providing teams, technology, strategy, and infrastructure to thrive on Amazon, has acquired Sellozo in a deal believed essential for supporting today’s digital-first brands.
Sellozo is an AI-driven Amazon PPC software platform engineered to support, automate and optimize global growth, for sellers and vendors across the North American, European, and Asia-Pacific markets.
Netrush will build on the current Sellozo success of innovating to maintain a best-in-class automated ad platform and create new value for existing partners, whilst generating benefits for Sellozo clients in supply chain, creative, data analytics, finance, brand protection and more.
Netrush CEO and Co-founder, Brian Gonsalves says, “The days of blind investment and paying a share of spend are over. With the acquisition of Sellzo alongside our current demand-side-platform advertising, creative and supply chain capabilities we have a truly integrated platform. Marketers can now use the Netrush platform for a full funnel view including brand building, new customer acquisition, repeat customer experience, in-market PPC efficiency, in-the-box experience and loyalty. It is a win-win for all involved.”
Sellozo CEO, Nic Delorme adds “Sellozo saw an opportunity in the market for greater effectiveness in advertising spend while increasing the transparency and accessibility for enterprise brands, as well as the growing number of successful seller entrepreneurs. Joining Netrush is a catalyst moment – combining our teams will spark a flurry of innovation and enhancements to both platforms, resulting in a comprehensive world class ecommerce growth platform.”
Gonsalves concludes “The ecosystem of ecommerce services is highly fragmented. A truly integrated advertising approach needs to work seamlessly with profitability, inventory availability, multi-channel data, and customer lifetime value data. The speed of decision making and the dollars required mean that advertising can no longer be managed off to the side. When advertising actions are continually assessed through transactions then advertising investments can be assessed alongside the many effective levers for growth. Brands need to know where to spend the next dollar of investment and verify the effectiveness of that investment.”
Netrush is an online retailer that partners with premium brands to provide the teams, technology, strategy, and infrastructure needed to thrive on Amazon and other e-commerce platforms. With headquarters in Vancouver, Washington, and processing facilities in Kentucky and Canada, Netrush provides a full suite of capabilities ranging from supply chain to creative services that make brands stand out across the shopping journey.
Sellozo is a platform that enables Amazon sellers and agencies to automate and improve the profitability of Amazon product advertising. The platform includes a machine learning algorithm that determines and sets the optimal bid for every keyword and target every day based on a Target ACoS goal. Every day Sellozo executes over 500,000 bid updates on behalf of their customers and manages over $20M in ad spend every month.
Las Vegas based Scientific Games Announces Sale of Sports Betting Business, OpenBet, to Endeavor for $1.2 Billion
Scientific Games Corporation (NASDAQ: SGMS) (“Scientific Games,” “SGC” or the “Company”) announced that it has entered into a definitive agreement to sell its Sports Betting business, OpenBet, to Endeavor Group Holdings, Inc. (NYSE: EDR), a global sports and entertainment company, in a cash and stock transaction valued at $1.2 billion. Under the terms of the agreement, Scientific Games will receive $1 billion in cash and $200 million in Endeavor Class A common stock based on the volume-weighted average trading price of the Class A Common Stock for the twenty (20) trading days ending on September 24, 2021, subject to customary purchase price adjustments. The transaction is expected to close in the second quarter of 2022, subject to applicable regulatory approvals and customary closing conditions.
OpenBet is one of the world’s leading global online sports betting technology companies, offering an ecosystem of sports content, technology and services to the largest operators around the world. It is the number one business-to-business sports betting partner in the U.S., U.K., Australia and Canada, with a leading position in Europe and APAC. To date, OpenBet has over 75 global customers, including 24 sports books across 12 states and a 100% uptime record across major sporting events.
“This transaction represents the culmination of a thorough process to divest OpenBet in order to maximize value for our shareholders and rapidly advance our vision to become the leading cross-platform global game company,” said Barry Cottle, President and Chief Executive Officer of Scientific Games. “The transaction is a significant milestone towards optimizing our portfolio and de-levering the balance sheet to enhance our financial flexibility. It will position us to invest both organically and inorganically in key growth areas, particularly in content and digital markets. We are delivering on our promises and executing on our strategy to transform our company and unlock significant value for employees, customers and shareholders.”
“We believe Endeavor will enable us to build on our exceptional track record of innovation and reliability and unlock even greater value for our customers and employees,” said Jordan Levin, Chief Executive of Scientific Games’ Digital business. “Endeavor’s deep industry relationships and global reach make them the ideal partner. Together, these companies will be well positioned to capitalize on emerging trends to deliver even more innovative and tailored solutions to customers as we define the future of sports betting entertainment.”
“OpenBet has built an incredible sports betting suite anchored in its best-in-class betting engine and now including expanded content, services and products for sports books and fans,” said Ariel Emanuel, CEO, Endeavor. “This capability set is the ideal complement to our IMG ARENA sports betting business, which works directly with sports rights holders. We look forward to growing these businesses together to capitalize on the strong secular tailwinds in the sports betting ecosystem.”
Oakvale Capital LLP and Macquarie Capital (USA) Inc. are serving as financial advisors and Cravath, Swaine & Moore LLP is serving as legal counsel to Scientific Games.
About Scientific Games
Scientific Games Corporation (NASDAQ: SGMS) is a world leader in entertainment offering dynamic games, systems and services for casino, lottery, online gaming and sports betting. Scientific Games offers the gaming industry’s broadest and most integrated portfolio of game content, advanced systems, cutting-edge platforms and professional services. Committed to responsible gaming, Scientific Games delivers what customers and players value most: trusted security, engaging entertainment content, operating efficiencies and innovative technology. For more information, please visit scientificgames.com.
Endeavor is a global sports and entertainment company, home to the world’s most dynamic and engaging storytellers, brands, live events and experiences. The company is comprised of industry leaders including entertainment agency WME; sports, fashion, events and media company IMG; and premier mixed martial arts organization UFC. The Endeavor network specializes in talent representation; marketing and licensing; content development, distribution and sales; event management; and a number of direct-to-consumer offerings.
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