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Acquisition

Romanian Startup Global Technical Group acquires Lummetry.AI

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Romanian Startup Global Technical Group acquires Lummetry.AI

Tech firm strengthens its position as the market leader in software solutions for physical security automation

Global Technical Group (“GTS”), the Romanian developer of software for the security industry, backed by Abris Capital Partners (“Abris”), has acquired Lummetry.AI, a Romanian artificial intelligence business. The transaction, completed on 15 September, will further strengthen GTS’s position as a market leader in software solutions for physical security automation.

GTS was founded in 2007 and consists of two divisions providing software solutions for the security industry, comprising advanced IoT solutions, building technologies, engineering, automation and energy efficiency, facility management and technical maintenance. GTS is one of the largest players in this sector in Romania, counting most of the largest banks, oil companies, shopping malls, retailers and international manufacturing and distribution companies among its clients.

Abris invested in the business in 2019 with the aim of accelerating the innovation process and laying the foundations for international expansion.

Adrian Stanculescu, Partner at Abris, commented:

“The acquisition of Lummetry.AI is the next exciting step in GTS’s growth story. Already the business has seen an impressive CAGR of nearly 50% in the past five years, and we expect to continue realizing double-digit revenue growth over the next five. The combination of these two teams will help us further improve our offering to clients and build our market-leading position.”

Lummetry.AI offers solutions that work as AI “engines”, which integrate with existing IT tools, security and video monitoring infrastructure, transforming the platforms into solutions capable of automatically processing multiple video streams and large amounts of data. The company will complement GTS by bringing capabilities for the development, implementation and maintenance of software platforms dedicated to security systems management, as well as a track record of successful projects and a team with an advanced level of expertise in the field of AI.

Mihai Stănescu, founder and CEO of GTS, added:

“GTS is differentiated by its ability to develop and integrate different areas in the IoT sector. Over the past two years, alongside Lummetry.AI, we have accelerated the integration of AI algorithms in everything we do, bringing a tremendous advantage to clients, who can benefit from advanced technology even if platforms used were not originally designed to be monitored with advanced software. As part of the value-creation process, Abris has supported the professionalization of the business, at the same time growing it significantly together with our management team.”

Following the acquisition, GTS will continue to invest in Lummetry.AI’s research and development of AI engines. In addition, GTS is preparing to launch a new software platform for monitoring and managing security systems that will include integrated AI-based modules such as perimeter violation, people counting, people presence identification, camera tempering and crowd detection. The company is also preparing for an international expansion, beginning in 2022, to leverage its strong IoT and AI solutions.

Pawel Gierynski, Managing Partner at Abris, commented:

“At Abris, we remain committed to our strategy of transforming local players into regional champions. During the pandemic, we saw that digitization and the transition to cloud services accelerated across most industries. I am therefore extremely proud that our Romanian portfolio company is on the right path to become the leading technology-driven security and service integrator in Central Europe. We look forward to supporting the group as it consolidates its position in the market further.”

Abris Capital Partners

Abris Capital Partners is a leading independent private equity fund manager, focused on mid-market opportunities in the major countries of Central Europe. Established in 2007, Abris seeks to identify, and partner with, the most successful and dynamic mid-market businesses in Central Europe, which can benefit from an input of capital and/or management expertise at both strategic and operational levels. With investment capital of almost €1.3 billion, Abris has obtained financial backing from many leading global investment institutions including corporate and public pension plans, financial institutions, funds of funds and US university endowment funds. Abris has a long-term investment horizon and usually targets transactions in which it is able to acquire a majority or sole ownership position. The typical financial commitment by Abris to any single transaction can range from €30 million to €75 million, with larger commitments available if required. The Abris advisory business operates using teams based in Warsaw and Bucharest.

GTS

GTS is part of GTS Global Technical Group – one of the leading technology and security integrators in Romania, owned by Abris Capital Partners. The group consists of two divisions: Physical Security & Safety (focusing mostly on software) and Building Technologies (with a hardware component). The companies in the physical security division form a one-stop shop for the clients, with the ability to provide a broad range of services and expertise, from the development phase to project completion, by providing services such as: systems design, implementation, maintenance, software platform development and monitoring services. GTS Global Intelligence is known for developing CAVI Smart Monitoring & CAVI Share Alert, two innovative security solutions.

Lummetry.AI

Lummetry.AI is a Romanian artificial intelligence company that uses Big Data & in-house developed solutions to help companies identify and capitalize untapped business opportunities. The company focuses on facilitating knowledge work by leveraging Big Data and the Internet of Things (IoT) with the power of Machine Learning and Deep Learning models. Lummetry has developed VAPOR, a video analytics engine built to run on customers’ existing video infrastructure; SEER, a predictive analytics engine based on Machine Learning and Deep Learning, which can be integrated both into video monitoring systems and solutions for predictive stock replenishment or sales forecasting, and ALLAN, an automated text analytics engine, also available for the Romanian language.

Acquisition

Las Vegas based Scientific Games Announces Sale of Sports Betting Business, OpenBet, to Endeavor for $1.2 Billion

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Las Vegas based Scientific Games Announces Sale of Sports Betting Business, OpenBet, to Endeavor for .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.”

Advisors

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.

About Endeavor

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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Acquisition

Managed application solutions provider Contegix Acquires Ascend Integrated

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Managed application solutions provider Contegix Acquires Ascend Integrated

Contegix, a leading provider of managed application solutions and DevOps consulting services today announced the acquisition of Ascend Integrated. Ascend Integrated, an Atlassian Gold Partner, delivers advanced system solutions for Agile, DevOps, and system implementation and is primarily focused on the federal government market. This acquisition will augment Contegix’s expertise in Agile, SAFe, DevOps, ITSM, and solidify Contegix as the leading provider of Atlassian solutions to the public sector.

An Atlassian Verified Government Partner and Platinum Partner, Contegix helps public sector organizations more quickly advance their technology initiatives. Through a combination of business process consulting, technical engineering services and FedRAMP compliant managed cloud services, Contegix optimizes its customers’ Atlassian toolsets and supports implementations 24×7. With the acquisition of Ascend Integrated, Contegix increases its capacity to better serve these customers and offer new services such as custom application development, as well as professional services for GitLab, Smartsheets, and Monday.com.

“The acquisition of Ascend Integrated positions Contegix as the leader in DevOps solutions to the Federal market,” said Brad Hokamp, CEO of Contegix. “We selected Ascend Integrated because of the team’s depth of technical expertise and proven success in implementing complex systems at scale.”

Ascend Integrated has delivered solutions to large government entities including the United States Air Force, the United States Space Force, The Department of Health and Human Services and the Department of Commerce. Additionally, Ascend has a proven track record of implementing DevOps solutions and services for multiple commercial organizations, healthcare organizations, and financial institutions.

“Our mission of providing quality Agile IT and secure DevOps solutions aligns perfectly with the Contegix vision of accelerating innovation,” said Michael Brown, Founder and CEO of Ascend Integrated. “Now more than ever, customers will be able to take advantage of a wide range of services, resources, and expertise to directly support their Agile and DevOps goals following this merger. Additionally, Contegix’s FedRAMP compliant cloud provides customers with a secure, compliant environment.”

About Contegix

Contegix helps developers and operations teams securely accelerate application delivery. Our technology solutions optimize and support a select ecosystem of tools, enabling teams to collaborate more efficiently in secure and compliant environments. We specialize in the Atlassian toolset, security platforms, Web Content Management systems, AWS, and GitLab, and enthusiastically support our customers 24×7 with a U.S.-based team of application experts. To learn more, visit www.Contegix.com.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/contegix-acquires-ascend-integrated-301370684.html

SOURCE Contegix

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Acquisition

Sitecore Acquires AI-Powered Digital Search Platform Reflektion

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Sitecore Acquires AI-Powered Digital Search Platform Reflektion

Sitecore®, the global leader in digital experience management software, today announced the acquisition of San Mateo-based Reflektion, an AI-powered digital search platform that understands and predicts patterns, context, and needs in order to convert shoppers into buyers. The combination of Sitecore and Reflektion enables Sitecore to engage, educate, and empower shoppers to make purchase decisions faster – increasing buyer confidence, long-term revenue, and overall customer satisfaction and loyalty.

The acquisition – a continuation of Sitecore’s ongoing $1.2 billion growth plan – will help marketers solve the information overload that is characteristic of traditional search solutions, which leave customers unable to find and select the right product. 93% of all online experiences start with search, making it an integral part of the customer buying journey, and Reflektion elevates search into a conversational, guided experience that provides more personal, accessible, and tailored answers for the customer. Reflektion’s platform can be leveraged across all aspects of the Sitecore digital experience platform, from transforming product data into understandable consumer-friendly language to understanding shopper intent, behavior, and product preferences.  

“Search is about more than just entering words into a box and hoping for the right results – it is the cornerstone of a digital experience. With Reflektion, a brand can add various types of search including personalized search, preview search, conversational search, and voice search,” said Steve Tzikakis, CEO, Sitecore. “This reduces customers’ effort and anxiety to find exactly what they need – with more convenience and speed – and leads to increased customer satisfaction with more conversions and revenue. Acquiring Reflektion reinforces Sitecore’s position as the leader in digital experience technologies that meets customers in the moment with more relevant, intuitive, and human experiences.”

Reflektion includes complementary Commerce, AI and personalization capabilities that, alongside Sitecore’s acquisition of Four51, Boxever, and Moosend, offer even more power to seamlessly deliver targeted intelligent, personalized and real-time information across channels.

“Since its inception eight years ago, Reflektion has become recognized for its unique approach to search-product discovery technology. Our technology uses AI to adjust each consumer’s digital experience, in the moment, based on diverse data from multiple channels,” said Amar Chokhawala, Founder and Chief Executive Officer at Reflektion. “I am proud of the passionate team at Reflektion who has been successful in bringing our AI-first approach to many site-search deployments for large e-commerce and retailers’ websites. With Sitecore, the Reflektion team and customers will be able to continue to leverage the enhancement of digital experiences, leading to continued growth and results for all.”

The acquisition is expected to close in September 2021.

About Sitecore

Sitecore delivers a digital experience platform that empowers the world’s smartest brands to build lifelong relationships with their customers. A highly decorated industry leader, Sitecore is the only company bringing together content, commerce, and data into one connected platform that delivers millions of digital experiences every day. Leading companies including American Express, ASOS, Kimberly-Clark, L’Oréal and Volvo Cars rely on Sitecore to provide more engaging, personalized experiences for their customers. Learn more at Sitecore.com.

Sitecore is a registered trademark of Sitecore Corporation A/S in the USA and other countries. All other brand names, product names or trademarks belong to their respective holders.

About Reflektion

Reflektion’s Digital Commerce Experience Platform for eCommerce and Retail listens to the behaviors of each individual shopper, utilizes Artificial Intelligence to calculate their preferences and intent, and then responds to every moment-to-moment interaction by displaying the most relevant content and products in real-time and across the digital touchpoints that matter most—including preview and site search, product recommendations, category and landing pages, and email.

Leading retail brands such as Skechers, Ulta, Reeds, Petco, Ascena and RiteAid rely on Reflektion’s platform.

Founded by pioneers in Artificial Intelligence and awarded both the Best eCommerce Solution and Best Overall Business Technology Solution by SIIA in 2019, Reflektion combines individual shopper insights, product intelligence, and AI to create more relevant and impactful eCommerce experiences.

Contact

Shannon Lyman

Senior Director of Communications

shannon.lyman@sitecore.com

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/sitecore-acquires-ai-powered-digital-search-platform-reflektion-301368443.html

SOURCE Sitecore

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