Colliers Proptech Accelerator Powered by Techstars Opens Applications for 2020 Program

Colliers welcomes proptech startups around the globe to apply for a spot in the 2020 accelerator

TORONTO, Feb. 18, 2020 (GLOBE NEWSWIRE) — Colliers International (NASDAQ and TSX: CIGI) is now accepting applications for the 2020 Colliers Proptech Accelerator Powered by Techstars. Now in its third year, the program continues to seek and support enterprising proptech companies that will help lead the real estate industry into the future. This one-of-a-kind global initiative enables Colliers to source, shape and invest in new solutions across the real estate value chain, giving our professionals and clients a competitive advantage.

Ten companies who represent solutions spanning quantitative valuation, asset fractionalization, machine learning, artificial intelligence, blockchain and virtual and augmented reality successfully completed the Colliers Proptech Accelerator Powered by Techstars in 2019. During the three-month program, those companies worked with more than 150 mentors from Colliers and the broader industry to refine market fit, develop pilots and partnerships with Colliers and source new capital for their growth. They presented their solutions and go-to-market strategies to over 1,000 Colliers employees, clients, industry professionals and technology investors at the concluding Demo Day event.

“With the tremendous appetite for change in our industry and building on the successes and partnerships of our two previous classes, we are thrilled to start the selection process for our 2020 cohort,” said Zach Michaud, Vice President, Strategic Investments | Global. “This program is an important part of our innovation strategy as we continue to search across the world for value-enhancing strategies to deliver to our clients, game-changing business tools for our professionals and diamonds in the rough that could disrupt our industry.”

Since the program’s inception in 2018, Colliers has launched 19 pilots and partnerships with our program alumni. To learn more and apply to the Colliers Proptech Accelerator Powered by Techstars, visit the program page.

“Colliers is one of Techstars’ most engaged partners, with dedication not only from the highest levels of the organization, but through every level of the firm. They have truly leaned into building a world-class program that bridges the gap between early-stage technology and the real estate industry,” said Ben Liao, Managing Director, Colliers Proptech Accelerator Powered by Techstars. “I look forward to building on previous years’ achievements and working closely with all of our program mentors to accelerate the success of this year’s class.”

About Colliers International
Colliers International (NASDAQ, TSX: CIGI) is a leading real estate professional services and investment management company. With operations in 68 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to maximize the value of property for real estate occupiers, owners and investors. For more than 25 years, our experienced leadership, owning approximately 40% of our equity, has delivered compound annual investment returns of almost 20% for shareholders. In 2019, corporate revenues were more than $3.0 billion ($3.5 billion including affiliates), with $33 billion of assets under management in our investment management segment. Learn more about how we accelerate success at corporate.colliers.com, Twitter @Colliers or LinkedIn.

About Techstars
Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporations to grow their companies. Techstars operates three divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, and Techstars Corporate Innovation Partnerships. Techstars accelerator portfolio includes more than 1,900 companies with a market cap of more than $25 billion. www.techstars.com

For further information, please contact:
Andrea Cheung, Global Manager, PR + Communications
Direct: +1 416 324 6402
Email: Andrea.cheung@colliers.com

Ben Liao, Managing Director, Techstars
Email: Ben.Liao@techstars.com

Ascom Digistat Suite enables Dutch Slingeland Hospital to gain more patient insights

Dutch Slingeland Hospital has opted for the software solution Ascom Digistat Suite to monitor patient data in one central location. With first implementations beginning of this year Ascom Digistat Suite as part of the Ascom Healthcare Platform gets installed step by step throughout the hospital.

Slingeland Hospital takes part in the innovation project ‘Sensing Clinic’. An initiative which aims to improve healthcare with sensor technology to monitor vital functions such as blood pressure, heart rhythm, breathing, etc. Ascom Digistat Suite allows to centrally process data from all sensors and doing data analysis on one single platform.

The software solution of Ascom collects the patient’s vital functions from wearable sensors and generates automatic notifications. It works seamlessly with various sensors and tests the measured values against a number of hypotheses, making it possible to identify changes in the patient’s condition at an early stage.

Slingeland Hospital aim is to shorten the duration of treatment and to reduce workload of caregivers. The goal of continuous monitoring of the patient is helping diminish health complications so that healthcare providers can spend less time on administrative tasks and offer better patient care.

Malou Peppelman, Innovation Program Manager at Slingeland Hospital, says: “Thanks to the collaboration with Ascom, we can raise the ‘Sensing Clinic’ project to a higher level. The clear presentation of all patient data for our doctors and nurses was a crucial step in integrating sensor technology into our method of working.”

Olaf Hendriks, Managing Director Netherlands, adds: “The deployment of Ascom Digistat Suite to the Slingeland Hospital makes us very proud. This project is further proof that our solutions can meet the high demands of a modern hospital of the 21st century and that Ascom is the partner of choice for communications software solutions in healthcare.”

For more information o

Dutch Slingeland Hospital has opted for the software solution Ascom Digistat Suite to monitor patient data in one central location. With first implementations beginning of this year Ascom Digistat Suite as part of the Ascom Healthcare Platform gets installed step by step throughout the hospital.

Slingeland Hospital takes part in the innovation project ‘Sensing Clinic’. An initiative which aims to improve healthcare with sensor technology to monitor vital functions such as blood pressure, heart rhythm, breathing, etc. Ascom Digistat Suite allows to centrally process data from all sensors and doing data analysis on one single platform.

The software solution of Ascom collects the patient’s vital functions from wearable sensors and generates automatic notifications. It works seamlessly with various sensors and tests the measured values against a number of hypotheses, making it possible to identify changes in the patient’s condition at an early stage.

Slingeland Hospital aim is to shorten the duration of treatment and to reduce workload of caregivers. The goal of continuous monitoring of the patient is helping diminish health complications so that healthcare providers can spend less time on administrative tasks and offer better patient care.

Malou Peppelman, Innovation Program Manager at Slingeland Hospital, says: “Thanks to the collaboration with Ascom, we can raise the ‘Sensing Clinic’ project to a higher level. The clear presentation of all patient data for our doctors and nurses was a crucial step in integrating sensor technology into our method of working.”

Olaf Hendriks, Managing Director Netherlands, adds: “The deployment of Ascom Digistat Suite to the Slingeland Hospital makes us very proud. This project is further proof that our solutions can meet the high demands of a modern hospital of the 21st century and that Ascom is the partner of choice for communications software solutions in healthcare.”

For more information on Ascom Digistat Suite visit the website here.

n Ascom Digistat Suite visit the website here.

rfxcel Releases rTS 7.0, the Latest Version of Its Award-Winning Supply Chain Traceability Platform

Reno, Nevada, Feb. 18, 2020 (GLOBE NEWSWIRE) — rfxcel, the global leader in supply chain track and trace solutions, today announced that it will release the latest version of its rfxcel Traceability System (rTS) software platform on February 18, 2020. rTS 7.0 continues the award-winning legacy of rfxcel’s signature full-stack solution, enabling true end-to-end supply chain traceability, environmental monitoring, and analytics from anywhere in the world.

The announcement comes as the company marks its 17th year of developing leading-edge supply chain software solutions. With rTS 7.0, rfxcel anticipates building on the successes it enjoyed in 2019, which included entering the consumer goods industry, conducting major pharma pilots for the U.S. Food and Drug Administration and the Brazilian government, enhancing its powerful Integrated Monitoring (rIM) solution, launching a MobileTraceability solution, tripling the size of its team in Russia, increasing its presence in the Middle East, and hosting its annual User Group in Reno, Nevada.

rTS 7.0 can comprise up to eight discrete solutions that work in concert to harmonize, optimize, automate, and monitor virtually every aspect of supply chain operations. Though rfxcel currently provides its solutions to four industries — life sciences (pharmaceutical and medical devices), food and beverage, worldwide government, and consumer goods — the fully customizable, interoperable, and scalable nature of rTS makes it suitable for supply chain visibility and security in any industry. rTS solutions include rfxcel Integrated Monitoring for real-time cold chain traceability, Serialization Processing, Compliance Management, Raw Materials Traceability, Finished Goods Traceability, Data Analytics and Blockchain Enabler. The solutions are available in a variety of languages, which speeds implementation and boosts ease of use because people can work in their native language.

CEO Glenn Abood, who founded rfxcel in 2003 with Chief Strategy Officer Jack Tarkoff, said rTS 7.0 was the culmination of a year-long effort to make the platform more powerful and user-friendly than ever before.

“As we begin 2020 and celebrate 17 years of innovating supply chain technology and working with our customers to keep them at the forefront of their industries, we want people to know that rTS has never been better,” he said. “It has more features and capabilities than ever before, yet it’s intuitive and very easy to use. It centralizes complete supply chain control in one platform, can be accessed and controlled from virtually anywhere on Earth, and ensures companies remain informed, nimble, and compliant no matter where they do business.”

Mr. Abood added that the improved rTS 7.0 will be a boon to rfxcel as it continues its expansion into new industries and markets. “We had some major successes in the pharmaceutical industry and the government sector last year,” he said, “particularly in Russia and the Middle East, where we’ll be working with large brands and regulatory organizations. rTS 7.0 will help us solidify our position in markets around the world; in addition to Russia and the Middle East, we are leading in other key markets, such as Brazil and India.

“As we roll out rTS 7.0 and put it through its paces, we’ll be able to demonstrate what rfxcel brings to the table. Jack and I were compelled to start rfxcel when we realized that it was impossible for consumers to check the authenticity of their prescription drugs. We were born out of the desire to protect people from potentially harmful pharmaceutical products. Today, so many years later, rTS 7.0 shows why we’re one of the best supply chain traceability solution providers for companies in any industry.

rTS 7.0 will debut officially on February 18, 2020. To learn more about what it can do, contact Vice President of Marketing Herb Wong and visit rfxcel.com.

About rfxcel

Founded in 2003, rfxcel provides leading-edge software solutions to help companies manage every aspect of their supply chains, lower costs, and protect their products and brand reputations. Blue-chip organizations in the life sciences/pharmaceutical, food and beverage, worldwide government, and consumer goods industries trust rfxcel’s signature Traceability System (rTS) to power end-to-end supply chain solutions in key areas such as traceability, environmental monitoring, regulatory compliance, serialization, and visibility. The company is headquartered in the United States and has offices in the EU, Latin America, Russia, the Middle East, India, Japan, and the Asia-Pacific region.

Herb Wong
rfxcel Corporation
9258240300
hwong@rfxcel.com

General Fusion Appoints Greg Twinney as Chief Financial Officer

General Fusion Chief Financial Officer Greg Twinney

Greg Twinney has joined General Fusion to lead the company’s financial operations, together with investor relations, engagement with the global capital markets, and management of fundraising.

VANCOUVER, British Columbia, Feb. 18, 2020 (GLOBE NEWSWIRE) — General Fusion announced today the appointment of Greg Twinney as Chief Financial Officer (CFO).

Mr. Twinney brings to his new role with General Fusion more than 20 years of global experience in financing growth and success in the technology sector. His financial leadership has successfully realized strong stakeholder value creation from companies rapidly scaling up during commercialization, including management of IPOs, mergers, and acquisitions. As CFO, Mr. Twinney will lead General Fusion’s financial operations, together with investor relations, engagement with the global capital markets, and management of fundraising.

“Greg has a truly exceptional track record of successful financial leadership with some of the most respected technology companies in the world,” said Chief Executive Officer Christofer Mowry. “His experience and financial talents will further strengthen our world-class management team and help General Fusion deliver practical fusion technology to the global energy industry.”

Mr. Twinney comes to General Fusion from Hootsuite, the most widely used social media management platform in the world, where he recently served as Chief Operating Officer, Chief Financial Officer, and SVP Global Sales and Customer Success. Previously, he served as the Chief Financial Officer and Chief Operating Officer of several world-leading technology companies including Kobo, Real Matters, Opalis, and Cyberplex.

Mr. Twinney is a Chartered Public Accountant and holds a Business Administration Diploma from Seneca College of Applied Arts and Technology and a Bachelor of Accounting Science Degree from the University of Calgary.

About General Fusion

General Fusion is pursuing the fastest and most practical path to commercial fusion energy and is based in Vancouver, Canada, with locations in Washington D.C., and London, U.K. The company was established in 2002 and is funded by a global syndicate of leading energy venture capital firms, industry leaders, and technology pioneers. Learn more at www.generalfusion.com.

For more information:

Paul Sullivan
Office: +1 604 685 4742
Mobile: +1 604 603 7358
paul.sullivan@generalfusion.com

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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d8992dbd-1c8a-45c1-ad74-b0f8c74a13b0

LeddarTech Partners with COAST Autonomous at AV20 Silicon Valley from February 26-28, 2020 to Present and Demonstrate the Role of LiDAR in ADAS and Autonomous Driving Applications

QUEBEC CITY, Feb. 18, 2020 (GLOBE NEWSWIRE) — LeddarTech®, an industry leader in LiDAR technology who provides the most versatile and scalable auto and mobility LiDAR platform in the market, is set to return to California to showcase it’s multi-award winning LiDAR technology at Autonomous Vehicles Conference 2020 from February 26-28th, booth #5, at the Pullman San Francisco Bay.

AV20 provides the opportunity for mobility leaders from across the globe to connect, inspire, educate and collaborate on innovative developments and future trends in autonomous driving and mobility.  This year we are pleased to announce that Frantz Saintellemy, President & COO of LeddarTech will join the stage with Pierre Lefevre, CTO of COAST Autonomous for their presentation, “Paving the Road From ADAS to Autonomy”  which explores the ways in which solid-state 3D LiDAR solutions like the Leddar™ Pixell are the “Road Ahead” for autonomous driving.  This presentation will take place on February 27th at 11.30 AM.  LeddarTech will also be showcasing its award-winning LiDAR technology on the show floor at booth #5 from February 26-28th.

Click HERE to request a demo and to meet our team at AV20 at booth #5

“Partnerships in the mobility space such as the one between LeddarTech and COAST Autonomous highlight the importance of collaboration in the industry and AV20 exemplifies this ethos as it challenges the status quo in the automotive sector and broadens the ecosystem in which we operate”, stated Frantz Saintellemy of LeddarTech.  “We are excited to be a part of AV20 as speaker and exhibitor as it allows us to share our knowledge and insights, to collaborate and to exchange ideas and concepts that will shape the future of this industry”.

“At COAST Autonomous, we understand the importance of having a comprehensive and complete field of view around our shuttles, and by integrating the Leddar Pixell 3D solid-state LiDAR solution onto our shuttles, we provide a solution that puts pedestrians first and gives cities back to the people”, said COAST Autonomous CTO, Pierre Lefevre.  “We are again excited to share the stage with LeddarTech and to participate at AV20”.

AV20 Silicon Valley 2020 will gather together 300+ mobility experts; from Chief Product Officers, Chief Engineers, CEOs, to Heads of Safety for Autonomous Platforms, ADAS, and Autonomous Technology.

About COAST Autonomous

COAST Autonomous is a software and technology company focused on delivering AV solutions at appropriate speeds for urban and campus environments. COAST’s mission is to build community by connecting people with mobility solutions that put pedestrians first and give cities back to people. At the center of one of the fastest and most profound disruptions to impact the transportation and logistics industries, COAST has developed the full stack of Autonomous Vehicle (AV) software that includes mapping and localization, robotics and artificial intelligence (AI), fleet management and supervision systems. Partnering with proven manufacturers, COAST can provide a variety of vehicles equipped with its best-in-class software to offer Mobility-as-a-Service (MaaS) solutions to cities, theme parks, campuses, airports, and other urban environments. Based in Pasadena, California, COAST’s team is recognized for its experience and expertise in all aspects of implementing and operating AV fleets while prioritizing safety and the user experience. To learn how COAST Autonomous can help you power autonomous transportation in your environment, please visit www.coastautonomous.com.

Contact: Aimie Nghiem, Director of Program Development, COAST Autonomous

Tel: +1-626-838-2469 ANghiem@coastautonomous.com

About LeddarTech
LeddarTech is an industry leader providing the most versatile and scalable auto and mobility LiDAR platform based on the unique LeddarEngine™ which consists of a suite of automotive-grade, functional safety certified SoCs working in tandem with proprietary LeddarSP™ signal processing software. The company is responsible for several innovations in cutting-edge mobility remote-sensing applications, with over 70 patented technologies (granted or pending) enhancing ADAS and autonomous driving capabilities.

LeddarTech also serves the mobility market with solid-state high-performance LiDAR module solutions for autonomous shuttles, trucks, buses, delivery vehicles, and robotaxis. These modules are developed to support the mobility market but also to demonstrate the capabilities of LeddarTech’s auto and mobility platform as a basis for other LiDAR suppliers to build upon.

Additional information about LeddarTech is accessible at www.LeddarTech.com, and on LinkedInTwitterFacebook, and YouTube.

Contact: Daniel Aitken, Vice President of Marketing and Communications, LeddarTech
Tel.: +1-418-653-9000 ext. 232 Daniel.Aitken@Leddartech.com

Leddar, LeddarTech, LeddarEngine, LeddarSP, LeddarCore, and LeddarTech logos are trademarks or registered trademarks of LeddarTech Inc. All other brands, product names, and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

LeddarTech ร่วมมือกับ COAST Autonomous ที่งาน AV20 Silicon Valley ตั้งแต่วันที่ 26-28 กุมภาพันธ์ 2020 เพื่อนำเสนอและสาธิตบทบาทของ LiDAR ใน ADAS และแอปพลิเคชันการขับขี่อัตโนมัติ

QUEBEC CITY, Feb. 18, 2020 (GLOBE NEWSWIRE) — LeddarTech® ผู้นำด้านอุตสาหกรรมเทคโนโลยี LiDAR ซึ่งเป็นผู้ส่งมอบแพลตฟอร์ม LiDAR สำหรับยานยนต์ที่มีความอเนกประสงค์และขยายขอบเขตได้มากที่สุดในตลาด เตรียมพร้อมที่จะกลับไปยังแคลิฟอร์เนียเพื่อจัดแสดงเทคโนโลยี LiDAR ที่ได้รับรางวัลมากมาย ณ งาน Autonomous Vehicles Conference 2020 ตั้งแต่วันที่ 26-28 กุมภาพันธ์ บูธ #5 ที่ Pullman San Francisco Bay

AV20 เปิดโอกาสให้ผู้นำด้านยานยนต์จากทั่วโลกเชื่อมต่อ สร้างแรงบันดาลใจ ให้ความรู้ และร่วมมือกันในการพัฒนานวัตกรรมและแนวโน้มในอนาคตในด้านการขับขี่และยานยนต์อัตโนมัติ  โดยในปีนี้เรามีความยินดีที่จะประกาศให้ทราบว่า Frantz Saintellemy ประธานและ COO ของ LeddarTech จะร่วมเวทีกับ Pierre Lefevre, CTO ของ COAST Autonomous ในการนำเสนอ “การปูทางจาก ADAS ไปสู่ความเป็นอัตโนมัติ” ซึ่งจะสำรวจวิธีที่โซลูชัน LiDAR แบบโซลิดสเตต 3D อย่าง Leddar™ Pixell ซึ่งเป็น “ผู้เบิกทาง” สำหรับการขับขี่แบบอัตโนมัติ  โดยการนำเสนอนี้จะเกิดขึ้นในวันที่ 27 กุมภาพันธ์ เวลา 11.30 น.  LeddarTech จะทำการจัดแสดง เทคโนโลยี LiDAR ที่ได้รับรางวัล ในพื้นที่จัดแสดงที่บูธ #5 ตั้งแต่วันที่ 26-28 กุมภาพันธ์

คลิกที่นี่เพื่อขอดูการสาธิตและพบกับทีมของพวกเราในงาน AV20 ที่บูธ #5

“ความร่วมมือในด้านยานยนต์ เช่น ระหว่าง LeddarTech และ COAST Autonomous ได้เน้นความสำคัญของการทำงานร่วมกันในอุตสาหกรรมและ AV20 เป็นตัวอย่างของหลักการนี้ เนื่องจากความท้าทายสถานะที่เป็นอยู่ในภาคยานยนต์และขยายระบบนิเวศที่เราดำเนินงานอยู่” Frantz Saintellemy จาก LeddarTech กล่าว  “เรารู้สึกตื่นเต้นที่ได้เป็นส่วนหนึ่งของ AV20 ในฐานะผู้บรรยายและผู้จัดแสดงในงาน ซึ่งช่วยให้เราสามารถแบ่งปันความรู้และความเข้าใจเชิงลึกของเรา เพื่อทำงานร่วมกัน และแลกเปลี่ยนความคิดและแนวคิดที่จะช่วยขับเคลื่อนอนาคตของอุตสาหกรรมนี้”

“ที่ COAST Autonomous เราเข้าใจในความสำคัญของการมีมุมมองที่ครอบคลุมและครบถ้วนเกี่ยวกับรถรับส่งของเรา และด้วยการรวมโซลูชัน LiDAR แบบโซลิดสเตต 3D เข้ากับรถรับส่งของเรา เราได้นำเสนอบริการที่ให้ความสำคัญต่อคนเดินถนน และมอบเมืองกลับคืนสู่ผู้คน” Pierre Lefevre, CTO จาก COAST Autonomous กล่าว  “เรารู้สึกตื่นเต้นที่จะแบ่งปันเวทีกับ LeddarTech อีกครั้งและมีส่วนร่วมใน AV20”

AV20 Silicon Valley 2020 จะรวมผู้เชี่ยวชาญด้านยานยนต์มากกว่า 300 คน ตั้งแต่หัวหน้าฝ่ายผลิตภัณฑ์, ห้วหน้าวิศวกร, CEO ไปจนถึงหัวหน้าด้านความปลอดภัยสำหรับแพลตฟอร์มอัตโนมัติ, ADAS และเทคโนโลยีอัตโนมัติ

เกี่ยวกับ COAST Autonomous

COAST Autonomous คือบริษัทซอฟต์แวร์และเทคโนโลยีที่เน้นการให้บริการโซลูชัน AV ด้วยความเร็วที่เหมาะสมสำหรับสภาพแวดล้อมในเมืองและในสถานศึกษา ภารกิจของ COAST คือการสร้างชุมชนโดยการเชื่อมต่อผู้คนเข้ากับโซลูชันยานยนต์ที่คำนึงถึงคนเดินเท้าเป็นอันดับแรกและมอบเมืองกลับคืนให้กับผู้คน ที่ศูนย์กลางของหนึ่งในการพลิกผันที่เร็วและรุนแรงที่สุดที่ส่งผลกระทบต่ออุตสาหกรรมการขนส่งและโลจิสติกส์ COAST ได้ทำการพัฒนาซอฟท์แวร์ยานยนต์อัตโนมัติ (AV) ซึ่งประกอบด้วยการสร้างแผนที่และการระบุตำแหน่ง, หุ่นยนต์และปัญญาประดิษฐ์ (AI), ระบบบริหารและติดตามพิกัดตำแหน่งยานพาหนะและการควบคุม การเป็นพันธมิตรกับผู้ผลิตที่ได้รับการรับรอง ทำให้ COAST สามารถส่งมอบยานพาหนะที่หลากหลายพร้อมกับซอฟต์แวร์ที่ดีที่สุดในระดับเดียวกันเพื่อเสนอโซลูชัน Mobility-as-a-Service (MaaS) ไปยังเมือง สวนสนุก สถานศึกษา สนามบิน และสภาพแวดล้อมในเมืองอื่นๆ ทีมงานของ COAST ที่ตั้งอยู่ในเมืองพาซาดีนา รัฐแคลิฟอร์เนียได้รับการยอมรับด้านประสบการณ์และความเชี่ยวชาญรอบด้านของการนำมาใช้และการดำเนินการยานยนต์ AV พร้อมกับให้ความสำคัญต่อความปลอดภัยและประสบการณ์ของผู้ใช้ หากต้องการเรียนรู้ว่า COAST Autonomous สามารถช่วยคุณขับเคลื่อนการขนส่งอัตโนมัติในสภาพแวดล้อมของคุณได้อย่างไร โปรดเยี่ยมชม www.coastautonomous.com

ติดต่อ: Aimie Nghiem ผู้อำนวยการฝ่ายการพัฒนาโปรแกรมของ COAST Autonomous

โทร: +1-626-838-2469 ANghiem@coastautonomous.com

เกี่ยวกับ LeddarTech
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ติดต่อ: Daniel Aitken รองประธานฝ่ายการตลาดและการสื่อสารของ LeddarTech
โทร: +1-418-653-9000 ext. 232 Daniel.Aitken@Leddartech.com

Leddar, LeddarTech, LeddarEngine, LeddarSP, LeddarCore และโลโก้ LeddarTech เป็นเครื่องหมายการค้าหรือเครื่องหมายการค้าจดทะเบียนของ LeddarTech Inc. แบรนด์ ชื่อผลิตภัณฑ์ และเครื่องหมายต่างๆ ทั้งหมดเป็นหรืออาจเป็นเครื่องหมายการค้าที่ใช้เพื่อระบุถึงผลิตภัณฑ์หรือบริการต่างๆ ของเจ้าของที่เกี่ยวข้อง

Bombardier Announces its Strategic Decision to Focus on Business Aviation and its Intent to Accelerate Deleveraging through Sale of Transportation Division to Alstom

  • Bombardier, a world leader in business aviation, is well-positioned to compete in the business jet market
  • Alstom to acquire Bombardier Transportation at an Enterprise Value of $8.2 billion (EUR 7.45 billion)
  • Transaction will retire la Caisse’s participation in Bombardier Transportation (BT), la Caisse to become largest shareholder of Alstom
  • Following adjustments for liabilities, net of BT cash, and la Caisse’s interest, expected net proceeds between $4.2 and 4.5 billion will reshape capital structure 
  • Closing expected first half of 2021, subject to customary regulatory approvals

All amounts in this press release are in U.S. dollars unless otherwise indicated. Amounts in EUR are converted to USD at an 1.1 exchange rate.

MONTRÉAL, Feb. 17, 2020 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) today announced that it has made the strategic decision to focus exclusively on business aviation and plans to accelerate its deleveraging through the sale of its rail business.

“Today marks an exciting new chapter for Bombardier. Going forward, we will focus all our capital, energy and resources on accelerating growth and driving margin expansion in our market-leading $7.0 billion business aircraft franchise. With a stronger balance sheet after the completion of this transaction, an industry-leading portfolio of products, a strong backlog, and a rapidly growing aftermarket business, we will compete in this market from a position of strength,” said Alain Bellemare, President and Chief Executive Officer, Bombardier Inc.

Bombardier Transportation Sale Overview

Bombardier has signed a Memorandum of Understanding (MOU) with Alstom SA and the Caisse de dépôt et placement du Québec (“la Caisse”) for the sale of its Transportation business to Alstom. Under the transaction, Bombardier and la Caisse will sell their interests in Bombardier Transportation to Alstom on the basis of an enterprise value of $8.2 billion (EUR ~7.45 billion). Total proceeds, after the deduction of debt-like items and transferred liabilities, including pension obligations, and net of BT cash, are expected to be approximately $6.4 billion, subject to upward adjustments of up to $440 million. After deducting la Caisse’s equity position between $2.1 billion and $2.3 billion, Bombardier would receive net proceeds of between $4.2 to $4.5 billion, including $550 million of Alstom shares for a fixed subscription price of EUR 47.50, monetizable after a three-month lock-up post-closing, subject to closing adjustments, indemnities and the EUR to USD exchange rate. Bombardier intends to direct these proceeds towards debt paydown and will evaluate the most efficient debt reduction strategies.

The transaction recognizes the significant value created at Transportation since the beginning of the turnaround.

“Selling the rail business will allow us to reshape and redefine our capital structure. Adding a substantial amount of cash to the balance sheet, and removing la Caisse preferred equity in Transportation, will change the game for Bombardier,” continued Bellemare. “Including expected proceeds from previously announced transactions, Bombardier would have between $6.5 and $7.0 billion of pro forma1 cash on hand, putting the Company on a brand-new footing to address its $9.3 billion of debt.”  The signing of the MOU has been unanimously approved by each of Bombardier and Alstom’s board of directors, and the transaction announced today is fully supported by la Caisse, who will become a new long-term shareholder of Alstom.

“We are confident that the sale of our rail business to Alstom is the right action for all stakeholders. As a company, their mission to provide the world’s most efficient mobility solutions, their commitment to technology and their focus on sustainability will serve our customers well. They also appreciate and value our technology and capabilities. Above all, they recognize our talented and passionate employees and the great work they have done,” Bellemare stated.

About Bombardier Aviation

Bombardier Aviation is a market-leading, $7.0 billion business1, with demonstrated performance and a clear path for growth, margin expansion and solid cash generation. For more than 30 years, Bombardier has designed, built and supported one of the largest installed bases in business jet history, which today stands at more than 4,800 aircraft. It is powered by a proud heritage, a commitment to exceptional customer service and more than 18,000 talented and passionate employees1.

Business jet deliveries are expected to grow significantly, driven by the large cabin segment. Underlying this growth, is continued global economic growth, the further expansion of charter and fractional ownership business models, and a replacement cycle supported by newer and more efficient aircraft.

Having just completed a major product investment cycle, Bombardier boasts the best aircraft product line-up in the industry. Its flagship aircraft, the all new Global 7500, is the world’s largest, longest-range and most advanced business jet. In 2019, Bombardier also brought into service its new Global 5500 and Global 6500 aircraft with better than promised performance. Bombardier Aviation’s industry-leading portfolio of aircraft also includes the Challenger 350 and Challenger 650 aircraft, best-selling in their respective class, as well as the new Learjet 75 Liberty. With a $14.4 billion backlog, the largest in the industry, Bombardier is very well positioned to compete, win, grow, and create shareholder value. For 2020, Bombardier Aviation expects to deliver 160 or more aircraft.

Bombardier continues its commitment to exceptional customer service, having announced major expansions to its service and support network. The Company is currently executing on this growth agenda through projects around the world, including new and expanded facilities in Singapore, London and Miami.

Bombardier Aviation is headquartered in Montréal, Canada and has major operations in 16 countries around the world.

Memorandum of Understanding

Pursuant to the requirements of French law, Alstom and Bombardier will initiate Works Councils information and consultation procedures prior to the signing of the transaction documents. Accordingly, and consistent with customary practice in France, Alstom, Bombardier and la Caisse reached an agreement in principle on the main terms of the transaction and entered into a MOU prior to announcing the proposed transaction. The MOU organizes the information and consultation process by Bombardier and Alstom of their respective Works Councils and contains exclusive commitments by both parties. This process is anticipated to last for approximately four to five months.

Bombardier has retained Citigroup Global Markets Inc. and UBS Investment Bank as its financial advisors and Norton Rose Fulbright as its lead legal advisor, with Jones Day advising on antitrust and competition matters outside Canada. National Bank Financial and Rockefeller Capital Management are acting as financial advisors to Bombardier’s Board of Directors.

Investor Webcast Information

Bombardier will host a conference call for investors and financial analysts on Monday, February 17, 2020 at 1:30 p.m. (EST) to discuss the transaction and information contained in this press release. A live webcast of the call and relevant financial charts will be available at www.ir.bombardier.com.

Stakeholders wishing to listen to the presentation and question and answer period by telephone may dial one of the following conference call numbers:

In English:+1 514 394 9320 or
 +1 866 240 8954 (toll-free in North America)
 +800 6578 9868 (overseas calls)
  
In French:+1 514 394 9316 or
(with translation)+1 888 791 1368 (toll-free in North America)
 +800 6578 9868 (overseas calls)
  

A recording of the call will be available on Bombardier’s website shortly after the end of the webcast.

About Bombardier
With over 60,000 employees across two business segments, Bombardier is a global leader in the transportation industry, creating innovative and game-changing planes and trains. Our products and services provide world-class transportation experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier has production and engineering sites in over 25 countries across the segments of Aviation and Transportation. Bombardier shares are traded on the Toronto Stock Exchange (BBD). In the fiscal year ended December 31, 2019, Bombardier posted revenues of $15.8 billion. News and information are available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier Inc. uses its website as a channel of distribution for material company information. Financial and other material information regarding Bombardier Inc. is routinely posted on its website and accessible at bombardier.com. Investors are hereby notified information about regular dividends declared and paid by Bombardier is only made available through its website, unless otherwise required by applicable securities laws.

Bombardier, Challenger, Challenger 350, Challenger 650, Global, Global 5500, Global 6500, Global 7500Learjet 75 Liberty are trademarks of Bombardier Inc. and its subsidiaries.

(1) Pro Forma includes the sale of Transportation and the closing of previously announced transactions. Pro Forma cash on hand includes 2020 free cash flow outlook, net of Residual Value Guarantee (RVG) payments.

For Information
Jessica McDonald
Advisor, Media Relations and Public Affairs
Bombardier Inc.
+1 514 861 9481

Patrick Ghoche
Vice President, Corporate Strategy and Investor Relations
Bombardier Inc.                          
+1 514 861 5727

FORWARD-LOOKING STATEMENTS

This press release includes forward-looking statements, which may involve, but are not limited to: statements with respect to our objectives, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contribution thereto, targets, goals, priorities, market and strategies, financial position, market position, capabilities, competitive strengths, credit ratings, beliefs, prospects, plans, expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry; expected growth in demand for products and services; growth strategy, including in the business aircraft aftermarket business; product development, including projected design, characteristics, capacity or performance; expected or scheduled entry-into-service of products and services, orders, deliveries, testing, lead times, certifications and project execution in general; competitive position; expectations regarding progress and completion of challenging Transportation projects and the release of working capital therefrom within the anticipated timeframe; expectations regarding revenue and backlog mix; the expected impact of the legislative and regulatory environment and legal proceedings on our business and operations; strength of capital profile and balance sheet, creditworthiness, available liquidities and capital resources, expected financial requirements and ongoing review of strategic and financial alternatives; the introduction of productivity enhancements, operational efficiencies and restructuring initiatives and anticipated costs, intended benefits and timing thereof; the expected objectives and financial targets underlying our transformation plan and the timing and progress in execution thereof, including the anticipated business transition to growth cycle and cash generation; expectations and objectives regarding debt repayments and refinancing of bank facilities and maturities; and intentions and objectives for our programs, assets and operations. As it relates to the transaction discussed herein, this press release also contains forward-looking statements with respect to: the expected terms, conditions, and timing for completion thereof; the anticipated proceeds and use thereof and/or consideration therefor, as well as the anticipated benefits of such transaction and their expected impact on our outlook, guidance and targets, operations, infrastructure, opportunities, financial condition and cash on hand, business plan and overall strategy (including our expectation of a deleveraged profile and reshaped capital structure and the removal of CDPQ’s preferred equity in Transportation); and the fact that closing of this transaction will be conditioned on certain events occurring, including without limitation the receipt of necessary regulatory approvals, the execution of definitive documentation, receipt of Alstom shareholder approval in respect of the required capital increase and completion of relevant works council consultations.

Forward-looking statements can generally be identified by the use of forward-looking terminology such as “may”, “will”, “shall”, “can”, “expect”, “estimate”, “intend”, “anticipate”, “plan”, “foresee”, “believe”, “continue”, “maintain” or “align”, the negative of these terms, variations of them or similar terminology. Forward-looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of our current objectives, strategic priorities, expectations, outlook and plans, and in obtaining a better understanding of our business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

By their nature, forward-looking statements require management to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecast results set forth in forward-looking statements. While management considers these assumptions to be reasonable and appropriate based on information currently available, there is risk that they may not be accurate. The assumptions underlying the forward-looking statements made in this press release in relation to the transaction discussed herein include the following material assumptions: the satisfaction of all closing conditions (including without limitation receipt of regulatory approvals on acceptable terms within commonly experienced time frames, the execution of definitive documentation, receipt of Alstom shareholder approval in respect of the required capital increase and successful completion of relevant works council consultations) and successful completion of such transaction within the anticipated timeframe, the realization of the intended benefits therefrom (including receipt of expected proceeds and intended use thereof) within the anticipated timeframe; the ability of the Company to retain key management and employees during the pendency and following completion of the transaction; the ability of the Company to satisfy its liabilities and meet its financial covenants and debt service obligations during the pendency and following completion of the transaction; the ability of the Company to access the capital markets as needed during the pendency and following completion of the transaction; and fulfillment by the other parties of their respective obligations, commitments and undertakings pursuant to transaction documentation and agreements in principle. In addition, the assumptions underlying the forward-looking statements made in this press release in relation to the Company’s pro forma cash on hand and stronger balance sheet include the satisfaction of all closing conditions (including without limitation receipt of regulatory approvals on acceptable terms within commonly experienced time frames) and successful completion of the sale of our operations in Belfast and Morocco and the sale of the CRJ aircraft program within the anticipated timeframe and receipt of expected proceeds and intended use thereof. For additional information, including with respect to the other assumptions underlying the forward-looking statements made in this press release, refer to the Strategic Priorities and Guidance and forward-looking statements sections in the applicable reportable segment in the MD&A of the Company’s financial report for the fiscal year ended December 31, 2019.

Certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with “Brexit”, the financial condition of the airline industry, business aircraft customers, and the rail industry; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business and awarding of new contracts; book-to-bill ratio and order backlog; the certification and homologation of products and services; fixed-price and fixed-term commitments and production and project execution, including challenges associated with challenging Transportation projects and the risk that actions and initiatives undertaken by Transportation to move forward and complete such projects may not be successful, and the intended outcome and release of working capital therefrom not being realized, within the timeframe anticipated or at all; pressures on cash flows and capital expenditures based on project-cycle fluctuations and seasonality; risks associated with our ability to successfully implement and execute our strategy, transformation plan, productivity enhancements, operational efficiencies and restructuring initiatives; doing business with partners; inadequacy of cash planning and management and project funding; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial existing debt and interest payment requirements; certain restrictive debt covenants and minimum cash levels; financing support provided for the benefit of certain customers; and reliance on government support), market risks (such as risks related to foreign currency fluctuations; changing interest rates; decreases in residual values; increases in commodity prices; and inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A of the Company’s financial report for the fiscal year ended December 31, 2019. With respect to the transaction discussed herein specifically, certain factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to: the failure to receive or delay in receiving regulatory approvals on acceptable terms or at all, the failure to receive or delay in receiving Alstom shareholder approval in respect of the required capital increase and to complete relevant works council consultations, or otherwise satisfy the conditions to the completion of this transaction or delay in completing, and uncertainty regarding the length of time required to complete, such transaction, and all or part of the intended benefits therefrom not being realized and all or part of the anticipated proceeds therefrom not being available to the Company within the anticipated timeframe, or at all; and alternate sources of funding that would be used to replace the anticipated proceeds from such transaction may not be available when needed, or on desirable terms; the failure to enter into definitive documentation for the transaction or the occurrence of an event which would allow the other parties to terminate their respective obligations, commitments and undertakings pursuant to transaction documentation and agreements in principle; changes in the terms of the transaction; the failure by the other parties to fulfill their respective obligations, commitments and undertakings pursuant to transaction documentation and agreements in principle; the Company being unable to satisfy its liabilities and meet its financial covenants and debt service obligations during the pendency and following completion of the transaction; the failure to retain the Company’s key management, personnel and clients during the pendency and following completion of the transaction and risks associated with the loss and ongoing replacement of key management and personnel; and the impact of the announcement of the transaction on the Company’s relationships with third parties, including potentially resulting in the loss of clients, employees, suppliers, business partners or other benefits and goodwill of the business. There is a risk that a party may terminate its respective obligations under the agreements in principle and Memorandum of Understanding prior to or after definitive binding agreements being entered into, including due to circumstances surrounding the relevant Works Council consultations. There is no certainty, nor can the Company provide any assurance, that the conditions to closing of the proposed transaction will be satisfied or, if satisfied, when they will be satisfied. If the proposed transaction is not completed for any reason, there is a risk that the announcement of such transaction and the dedication of substantial resources of the Company to the completion thereof could have a negative impact on the Company’s operating results and business generally, and could have a material adverse effect on the current and future operations, financial condition and prospects of the Company, including the loss of investor confidence in connection with the Company’s ability to execute its strategic plan. In addition, failure to complete the proposed transaction for any reason could materially negatively impact the market price of the Company’s securities. If the proposed transaction is not completed for any reason, there can be no assurance that management will be successful in its efforts to identify and implement other strategic alternatives that would be in the best interests of the Company and its stakeholders within the context of existing market, regulatory and competitive conditions in the industries in which the Company operates, on favourable terms and timing or at all, and, if implemented, that such actions would have the planned results. We also have incurred significant transaction and related costs in connection with the proposed transaction, and additional significant or unanticipated costs may be incurred. With respect to the forward-looking statements made in this press release in relation to the Company’s pro forma cash on hand and stronger balance sheet, additional factors that could cause actual results to differ materially from those anticipated in the forward-looking statements include, but are not limited to: the failure to receive or delay in receiving regulatory approvals on acceptable terms or at all, or otherwise satisfy the conditions to the completion of the sale of our operations in Belfast and Morocco and the sale of the CRJ aircraft program or delay in completing, and uncertainty regarding the length of time required to complete, such transactions, and all or part of the anticipated proceeds therefrom not being available to the Company within the anticipated timeframe, or at all; and alternate sources of funding that would be used to replace the anticipated proceeds from such transactions may not be available when needed, or on desirable terms. For more details, see the Risks and uncertainties section in Other in the MD&A of the Company’s financial report for the fiscal year ended December 31, 2019.