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Monese adopts Thought Machine's core banking platform Vault

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Monese adopts Thought Machine's core banking platform Vault
  • Monese to migrate European and UK account holders onto Thought Machine’s core banking platform
  • Thought Machine’s modern core banking technology combined with Monese’s mobile-first approach will unlock new features and capabilities for millions of customers

Monese, the popular pan-European banking service that provides instant and localised mobile money accounts in 31 countries, today announces it will adopt Thought Machine’s cloud native core banking platform Vault. Monese, which provides accounts to both consumers and businesses, will migrate its existing customer base onto Thought Machine’s cloud native platform, as it focuses on strengthening the company’s core technology platform and its banking infrastructure.

Vault’s unique product building toolkit, known as Smart Contracts, empowers banks and fintech companies to build new products rapidly while radically improving the onboarding and ongoing customer experience. This is in stark contrast to banks who are constrained by inflexible legacy technology. Vault will provide Monese with the cloud technology foundation required to deliver pioneering customer experiences at speed, and enhanced resilience for millions of its customers.

This partnership brings together two fintech companies with a shared vision for the future of financial services and a deep passion for engineering excellence in product development. Founded in 2014 by former Google engineer Paul Taylor, Thought Machine brings truly cloud native technology to core banking. Thought Machine names Lloyds Banking Group, Atom, SEB and Standard Chartered as clients and users of its platform, Vault.

Monese was launched in 2015 by entrepreneur Norris Koppel after his first-hand experience of the hassle involved with opening a bank account in a new country. With its mobile money accounts, portability across 31 countries, and its availability in 14 languages, Monese is instant, on-demand and financially inclusive. Its UK and European accounts will be powered by Vault to enable faster product delivery, greater resilience and a more seamless banking experience for new and existing customers.

Norris Koppel, CEO at Monese, comments: “At Monese, our goal is to provide truly modern portable banking services so customers have the freedom to thrive wherever they are in the world. By adopting Vault, we unlock new possibilities to deliver a seamless banking experience that  will  inevitably help us reach more customers.”

Paul Taylor, CEO at Thought Machine, adds: “The most ambitious, and most dominant technology companies, all run their systems entirely in the cloud. Monese has now joined an elite group of financial services companies which deliver innovation, security, and resilience to its customers, at scale. Vault’s hyper flexible core banking platform enables its clients to build and deliver banking services exactly as they want. We are excited to see Monese deliver on its vision of financial freedom using our truly cloud native platform.”

Acquisition

PCX Aerosystems Announces Acquisition of NuSpace

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PCX Aerosystems Announces Acquisition of NuSpace

PCX Aerosystems (“PCX”), a market-leading producer of advanced mechanical systems for the aerospace industry, today announced the September 2, 2022 acquisition of NuSpace, Inc. (“NuSpace”) from Cornerstone Capital Holdings and members of the NuSpace leadership team. With engineering and manufacturing roots going back to 1907, NuSpace has evolved from a diversified mechanical systems manufacturer into a leading-edge designer and manufacturer of proprietary propellant and high-pressure tanks for advanced satellite, launch vehicle spacecraft, and missile platforms.

“NuSpace brings a unique capability to design and produce mission critical complex assemblies for the rapidly growing space marketplace which is a fantastic addition to the growing portfolio of flight-critical components and assemblies we supply to the defense aerospace market,” said PCX CEO, Tom Holzthum.

Ian Ballinger, CEO and Chief Technology Officer of NuSpace, said, “Joining the PCX team is a natural next step for NuSpace, bringing the stability and support of being part of a broader portfolio while maintaining the freedom to pursue continued growth with our customers.”

About PCX

Headquartered in Connecticut, PCX Aerosystems is a leading privately owned supplier of highly engineered, precision, flight critical assemblies for rotorcraft and fixed wing aerospace platforms The company produces rotorhead assemblies and control systems, landing gear assemblies, external fuel tank systems, engine and structural airframe components in addition to composite fabrications and refueling probes.  The company also offers integrated special processing services such as heat treating, painting and non-destructive testing.  PCX provides direct delivery of components and large assemblies to customers such as Boeing, General Electric Aircraft Engines, Bell, Sikorsky and the U.S. Government. Founded in 1900, PCX owns facilities in CT, CA and MA. PCX Aerostructures, LLC, dba PCX Aerosystems is owned by Greenbriar Equity Group, L.P. To learn more about PCX, visit www.pcxaero.com.

About NuSpace

NuSpace is a Long Beach, California based aerospace and defense manufacturer with proprietary design and specialized fabrication capabilities, and flight-critical assembly and quality systems. Their experienced engineering and manufacturing teams excel at the design to specification and manufacture of mission critical propellant and pressure vessel solutions.

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Acquisition

Korean cosmetics giant Amorepacific acquires luxury clean beauty brand Tata Harper

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Korean cosmetics giant Amorepacific acquires luxury clean beauty brand Tata Harper

Amorepacific today announced that it has entered into a definitive agreement to acquire Tata’s Natural Alchemy, LLC (“Tata Harper” or the “Company”), a pioneer in natural luxury skincare, in a move that further signals the company’s intention to continue its penetration of global markets with a firm focus on consumers in North America. The closing of the acquisition is expected to occur in early 4Q 2022. Tata Harper, the Company’s co-founder, will continue to lead the brand.

Since its creation in 2010, Tata Harper has defined the luxury skincare category by strictly adhering to its core principle of clean beauty in everything from product development to packaging. The brand’s mission of “beauty made without compromise” has enabled Tata Harper to develop and maintain a strong global fan base. The Company uses 100% naturally derived ingredients without any genetically modified organisms (GMOs), toxins, fillers, artificial colors / fragrances, or synthetic chemicals. With a primary focus on the U.S. market, Tata Harper currently sells its products in 25 online stores, including its own direct-to-consumer website, Net-a-Porter, and Cult Beauty, as well as in over 800 brick-and-mortar retailers such as Sephora, Bluemercury, and Neiman Marcus. Tata Harper received a minority investment from Alliance Consumer Growth in 2015. 

Tata Harper is a clean beauty brand instilled with the core values of healthy beauty – values that society and consumers are looking for today. Fueled by Amorepacific’s top-notch R&D and P&L infrastructure, we expect Tata Harper will be able to significantly expand its footprint in the Western and Asian markets,” said Jinpyo Lee, Chief Strategy Officer at Amorepacific Group. 

The acquisition of Tata Harper will be highly additive to Amorepacific’s current offering. By diversifying its distribution channels, the Korean cosmetics giant will expand its business to the Americas and Europe, while realigning strategies to further broaden its presence in Asian markets. Amorepacific will continue to promote flagship product categories through intensive marketing activities, while simultaneously boosting product competitiveness through joint research and expanding new categories. Amorepacific will also enhance the profitability of Tata Harper by leveraging its scale and streamlining a variety of internal processes.

Co-founder and co-CEO, Tata Harper, commented, “Henry and I founded the brand on our farm in Vermont in our quest to develop a portfolio of products which will deliver efficacious results and a luxury experience without having to compromise your health. Our approach to formulation, including full control of manufacturing, has allowed us to pioneer the next generation of beauty. I look forward to leveraging Amorepacific’s expertise to drive global growth and continue to serve our consumers, who rely on Tata Harper to deliver the most results from their skincare.”

As a global beauty company, Amorepacific Group continues to post high growth in North America, thanks to the recent diversification of its global businesses. According to the 2Q 2022 earnings release, sales in North America jumped by 66% year-on-year, led by global brands including LANEIGE, Sulwhasoo, and innisfree, among others. The recent strong sales performance is backed by wider sales channels through brand stores and e-commerce, which is in line with current market trends. Furthermore, aggressive marketing of best-sellers for each of the respective brands, as well as successful collaborations with local influencers, powered higher brand awareness. Amorepacific continues to strengthen its presence as an innovative skincare brand, with LANEIGE ranked as the most widely sold Beauty & Personal Care brand, and Sulwhasoo’s First Care Activating Serum EX completely sold out during Amazon Prime Day this year.

UBS Investment Bank and K&L Gates acted as Amorepacific’s financial and legal advisors, respectively. Goldman Sachs & Co. LLC and Arnold & Porter acted as Tata Harper’s financial and legal advisors, respectively.

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Acquisition

WebMD Acquires JIM.fr, Expanding Reach to French-Speaking Health Professionals

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WebMD Acquires JIM.fr, Expanding Reach to French-Speaking Health Professionals

WebMD Health Corp., an Internet Brands company and a leader in health information services for physicians, other healthcare professionals and consumers, today announced that it has acquired JIM.fr, a leading medical news, information and education platform in France.

The acquisition combines the core competencies of JIM.fr with that of Medscape, WebMD’s flagship global brand for healthcare professionals (HCPs). Medscape and its affiliate network of platforms currently reach over 5 million physicians worldwide with clinical news, health information and continuing medical education. With the addition of JIM.fr, Medscape deepens its commitment to French and French-speaking HCPs.

“Both JIM.fr and Medscape have the trust and engagement of hundreds of thousands of healthcare professionals in France,” said Jeremy Schneider, Group General Manager, WebMD Global. “Medscape’s existing French edition, along with our robust, country-specific content, is integral to our global commitment to French-speaking health professionals. Through this transaction, we can leverage our combined assets to further strengthen Medscape’s offering for French and French-speaking professionals, while delivering innovative solutions to customers.”

As a leading medical news site in France, JIM.fr engages hundreds of thousands of physicians, nurses, pharmacists and other HCPs across more than 25 specialties.  In addition to updates on the latest medical news, clinical science, and medical conference coverage, JIM.fr offers a multidisciplinary and interactive continuing education platform for the broad healthcare team.

“Today JIM.fr offers, every day, to more than 350,000 French-speaking healthcare professionals registered on its site, a complete panorama of medical and professional news in all specialties, including general medicine,” said Dr. Gilles Haroche, founder of JIM.fr. “Beyond the scientific and journalistic rigor of its articles, JIM distinguishes itself from other medical media by its often humorous tone and its original analyses of all the major issues that are shaking the medical world. We are very happy to see the quality of our work recognized by Medscape, the global medical news and point of care platform.”

Following closing, JIM.fr will continue to operate as an independent subsidiary of Medscape as the companies look to build on and integrate products, platforms, and services.

The terms of the acquisition are not being disclosed.

About WebMD Health Corp.

WebMD Health Corp., an Internet Brands company, is at the heart of the digital health revolution that is transforming the healthcare experience for consumers, patients, healthcare professionals, employers, health plans and health systems. Through public and private online portals, mobile platforms, and health-focused publications, WebMD delivers leading-edge content and digital services that enable and improve decision-making, support and motivate health actions, streamline and simplify the healthcare journey, and improve patient care.

The WebMD Health Network includes WebMD Health, Medscape, Jobson Healthcare Information, MediQuality, Frontline, Vitals Consumer Services, Aptus Health, Krames, PulsePoint, The Wellness Network, SanovaWorks, MNG Health, MedicineNet, eMedicineHealth, RxList, OnHealth, Medscape Education, and other owned WebMD sites. WebMD®, Medscape®, CME Circle®, Medpulse®, eMedicine®, MedicineNet®, theheart.org® and RxList® are among the trademarks of WebMD Health Corp. or its subsidiaries.

About JIM.fr 

Dr. Gilles Haroche, then an intern at “Hôpitaux de Paris” (Hospital chain, Paris), founded the “Journal International de Médecine” (The JIM) in 1979, which switched to an entirely digital format in 1999. The JIM has always fulfilled the mission expressed in its title International Journal of Medicine.

Thanks to the daily editorial collaboration of dozens of hospital and private practitioners, JIM has set itself the goal of informing its readers in French, in “real time”, of everything important that is being done and written in medicine around the world in the international scientific press, major congresses and professional news. Its rigor and its free and sometimes offbeat tone have made it a success with its readers, and therefore with its advertisers.  JIM has always been ranked among the leading digital media sites for HCPs in France.

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