Middle East Live

 Digital Cognitive Testing App Allows Users to Take Charge of Their Brain Health

SAN FRANCISCO-Tuesday 29 September 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- Savonix, a global leader in digital cognitive health testing, and Fujitsu Connected Technologies Limited (FCNT), one of the major smartphone manufacturers in Japan, unveiled Savonix Mobile–a digital cognitive testing app–on the Raku-Raku Smartphone F-42A.

More than 4.6 million people in Japan are suffering from some form of dementia, with the total expected to soar to about 7.3 million people – or one in five Japanese aged 65 or over – by 2025. Japan’s government last year announced aims to reduce dementia cases by 6 percent in those aged 70 and older over the next six years.

Savonix Mobile, pre-installed on the Raku-Raku Smartphone F-42A, will allow users to test their cognition across eight brain functions such as executive function, working memory, and impulse control. Users will immediately receive test results within the app and will be able to take action to manage their cognitive health. Savonix Mobile detects mild cognitive impairment 93 percent of the time. For this reason, testing cognition is a good way to monitor your brain health over time. Recent studies presented at this year’s Alzheimer’s Association International Conference in July showed that up to 40 percent of dementias may be prevented by changing health habits such as diet, smoking, alcohol use, and sleep. Understanding your lifestyle risks can help you make smarter choices about brain health.

The Raku-Raku Smartphone will also house a pedometer and other important healthcare pre-installed applications to support and manage the user’s health.

“We’re excited about our partnership with FCNT as it will put easy and accurate cognitive testing into the hands of people who need it. This is impactful and aligns with how Japan and Japanese companies like FCNT are leading globally on the prevention of dementia,” said Savonix Founder and CEO Dr. Mylea Charvat. “Our digital cognitive assessment platform enables people to assess and monitor their brain health regularly and to incorporate lifestyle advice to improve brain wellness.”

“It is our great pleasure to have our Raku-Raku Smartphone F-42A equipped with the Savonix Mobile App,” said Katsumi Takada, President & Representative Director at FCNT. “This adoption enables services that support maintaining brain health and reducing the risk of dementia for users. We expect that this will make people more conscious about their health and help them lead a healthier life.”

About Savonix

A global leader in cognitive health, Savonix delivers the only neuropsychology platform in the market. Savonix provides digital cognitive health solutions and empowers healthcare providers, payers, and researchers to evaluate and leverage results to improve health and treatment outcomes. Developed by clinical neuropsychologists and digital health technology experts, the Savonix Cognitive Assessment is an accurate, accessible, and affordable tool available for download on all mobile devices. To learn more about Savonix, visit Savonix.com.

About Fujitsu Connected Technologies

Fujitsu Connected Technologies Limited was established in February 2016 through the spinoff of Fujitsu Limited’s mobile phone business. To create a future where people live their lives fully with peace of mind, FCNT connects people, things, and services in a more comfortable way with transcendental ideas and advanced technologies. FCNT has led the way in its integration of healthcare technologies into mobile phones since they introduced the world's first mobile phone with a pedometer in 2003. For more details, please visit https://www.fujitsu.com/jp/group/fcnt/

View source version on businesswire.com: https://www.businesswire.com/news/home/20200929005016/en/

Contacts

Savonix
Reynald Hiole
+1 415.919.7421
rhiole@savonix.com

Permalink : https://www.aetoswire.com/news/savonix-and-fujitsu-connected-technologies-limited-partner-to-introduce-savonix-mobile-app-on-raku-raku-smartphone-f-42a/en

Les innovateurs redoublent d’efforts pour impressionner le jury

Contacts

Weber Shandwick

Maram Alibrahim

SOS@webershandwick.com

+974 3107 3584

Permalink : https://www.aetoswire.com/fr/news/les-innovateurs-arabes-en-herbe-presentent-leurs-ideacutees-au-jury-de-stars-of-science-lrsquoeacutemission-de-la-fondation-du-qatar/fr

Pan-African Nonprofit and Esri Join to Encourage Geospatial Technology Use Across Continent

REDLANDS, Calif.-Saturday 26 September 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- Esri, the global leader in location intelligence, today announced a joint initiative with AfroChampions, a Pan-African nonprofit that aims to promote policies that foster private-public collaboration for Africa's economic transformation. The goal of the initiative is to engage leaders in business, governments, the African Union, and other regional economic communities through dialogue and potential partnership building in applying geospatial technology and solutions.

This new partnership with AfroChampions seeks to contribute to sustainable economic development in Africa and promote the benefits of a shared geospatial infrastructure throughout the continent. As a majority of Africans still live in rural areas, geographic information system (GIS) technology can create new opportunities for growth, especially in critical fields such as health and telemedicine, land management, agriculture, and mobility.

The powerful mapping and data analytics that GIS provides forms a foundation for some of the most successful economic strategies that nations pursue today. This initiative will offer African governments and other organizations streamlined access to Esri's world-leading GIS technology and expertise, in addition to a broad network of regional partners.

"Given the impact of the COVID-19 pandemic and related crises, African leaders must fast-track the African Continental Free Trade Area [AfCFTA], which is our own recovery plan," said Dr. Edem Adzogenu, executive director of AfroChampions. "However, we need technologies, such as geospatial solutions, to operationalize the AfCFTA."

Over the long term, Esri's solutions will advance projects retained as part of AfroChampions Trillion Dollar Investment Framework, a 360-degree road map officially endorsed by the African Union and in which core enablers of the AfCFTA are transportation and connectivity; the removal of nontariff barriers; low-cost power; and enhanced value and industrialization in a modernized digital economy.

"At a time of economic uncertainty, we consider it part of our company's mission to coordinate and collaborate with partners like AfroChampions for initiatives that promote sustainable global development," said Sohail Elabd, general manager of Esri Middle East and Africa. "With the help of a network of action-oriented business and political leaders spreading across the entire continent, these initiatives can be instrumental in advancing the use of geospatial solutions for the public good around the world, from healthcare coverage to infrastructure support."

This partnership is part of Esri's ongoing commitment to its users and the broader geospatial community across Africa. It is closely aligned with key continental initiatives such as AfCFTA; the African Development Bank Strategy for 2013–2022; the United Nations 2030 Agenda for Sustainable Development; and the African Union Agenda 2063, which emphasizes the need for global Geospatial Information for Sustainable Development (GI4SD) management.

"Esri's support is timely," continued Adzogenu. "It can help us in many practical ways, like compiling data, identifying best practices that can be replicated from one country to another, defining the right locations for strategic infrastructure projects, or launching cross-border renewable projects."

Africa Geoportal, the continent's existing geospatial community platform built by Esri, will support the AfroChampions' virtual festival Boma of Africa as well as other ongoing community outreach activities.

To learn more about how Esri is partnering with Middle Eastern and African communities to empower them with location-based sustainable solutions to global challenges, visit esri.com/en-us/about/about-esri/mea.

About AfroChampions

The AfroChampions Initiative is a public-private partnership designed to galvanize African resources and institutions to drive Africa's economic integration and transformation. As a consequence, AfroChampions supports the emergence and success of African economic champions, which have a critical role in integrating African markets and accelerating the transformation of the continent and its global competitiveness. AfroChampions is headquartered in Accra, Ghana, and works with regional and global partners and governments, with the support of other corporate and institutional partners. AfroChampions has defined four pillars of activity, all aimed at supporting Africa's economic integration. These are

Policy advocacy: Policy-shaping and advocacy on African integration and inclusive development, with a specific focus on advancing the African Continental Free Trade area, expected to create the largest single market globally in 2021.
Mobilizing champions for impact: Building networks and partnerships of African private and public sector champions to collaborate on African transformation projects and initiatives.
Facilitating investments: Driving investment in game-changing projects on the continent that accelerate integration and transformation.
Building future champions: Building and promoting the next generation of African champion institutions, innovators, and leaders.
Learn more at www.afrochampions.com.

About Esri

Esri, the global market leader in geographic information system (GIS) software, location intelligence, and mapping helps customers unlock the full potential of data to improve operational and business results. Founded in 1969, Esri software is deployed in more than 350,000 organizations including 90 of the Fortune 100 companies, all 50 state governments, more than half of all counties (large and small), and 87 of the Forbes Top 100 Colleges in the U.S., as well as all 15 Executive Departments of the U.S. Government and dozens of independent agencies. With its pioneering commitment to geospatial information technology, Esri engineers the most advanced solutions for digital transformation, the Internet of Things (IoT), and advanced analytics. Visit us at esri.com.

Copyright © 2020 Esri. All rights reserved. Esri, the Esri globe logo, ArcGIS, The Science of Where, esri.com, and @esri.com are trademarks, service marks, or registered marks of Esri in the United States, the European Community, or certain other jurisdictions. Other companies and products or services mentioned herein may be trademarks, service marks, or registered marks of their respective mark owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200924005627/en/

Contacts
Jo Ann Pruchniewski
Public Relations, Esri
Mobile: 301-693-2643
Email: jpruchniewski@esri.com

Permalink : https://www.aetoswire.com/news/esri-and-afrochampions-launch-partnership-to-promote-gis-in-africa/en

LONDON-Friday 25 September 2020 [ AETOS Wire ]

(BUSINESS WIRE)-- For many years, the reinsurance markets of sub-Saharan Africa, though small by global standards, have provided global reinsurers with an opportunity for diversification and profitable revenue growth. However, according to an AM Best report, competition and rising acquisition costs have led to a gradual deterioration in the performance of market participants, reducing the attractiveness of the region to potential new entrants.

In a new Best's Market Segment Report, "Tough Operating Conditions Present Challenges for Sub-Saharan Reinsurance Markets," AM Best notes that the operating environments across sub-Saharan Africa remain difficult for domestic and international companies, more recently exacerbated by the COVID-19 pandemic, albeit with varying severity. Many of the region’s markets face double-digit inflation and local currency depreciation; for some countries, government instability and corruption have contributed to social unrest and political uncertainty. Despite these challenges, there remains significant growth potential for the (re)insurance sectors due to the region’s substantial natural resources, a young and growing population and the gradual development of regulatory regimes.

The report also notes that regional capacity is limited. The capital base of sub-Saharan African reinsurers is typically too small to meet the needs fully of the local primary markets, where construction and energy risks often require significant capacity. Established and internationally experienced companies are able to contribute the know-how needed to manage complex risks and offer greater capacity than local market participants. With a few notable exceptions, local and regional reinsurers act as followers, subscribing to the terms and conditions arranged by the lead reinsurer.

To access a complimentary copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=XXXXXX.

AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts
Ben Diaz-Clegg
Financial Analyst
+44 20 7397 0293
ben.diaz-clegg@ambest.com

Richard Banks
Director, Industry Research – EMEA
+44 20 7397 0322
richard.banks@ambest.com

Alex Rafferty, ACA
Associate Director, Analytics
+44 20 7397 0312
alex.rafferty@ambest.com

Edem Kuenyehia
Director, Market Development & Communications
+44 20 7397 0280
edem.kuenyehia@ambest.com

Permalink : https://www.aetoswire.com/news/bestrsquos-market-segment-report-tough-operating-conditions-present-challenges-for-sub-saharan-reinsurance-markets/en

 Executive Appointments Further Kyriba’s Ambitions to Innovate Value for the Modern CFO

SAN DIEGO-Thursday 24 September 2020 [ AETOS Wire ]

(BUSINESS WIRE) -- Kyriba®, the global leader of cloud finance and IT solutions, today announced it has appointed Hamza Benamar as Chief Financial Officer (CFO) and Thomas Butta as Chief Marketing Officer (CMO). The executive appointments accelerate Kyriba’s efforts to embed Active Liquidity Management within the office of the CFO and its IT partners.

“Hamza and Thomas have delivered financial, operational and transformative, category-defining programs for some of the most innovative, global SaaS companies. Most recently, Hamza operationalized a high-growth enterprise for Wolters Kluwer and helped execute a $5.1B acquisition of SunGard by FIS, and Thomas positioned SignalFx as the leader in real-time cloud performance monitoring, which culminated in a $1.05B acquisition by Splunk,” said Jean-Luc Robert, Chairman and CEO of Kyriba. “Their expertise will be critical in helping Kyriba enhance its position as trusted guide to global finance and IT teams needing to extract value from new ways to actively manage liquidity.”

“I have been working directly with CFOs and business leaders for years. Kyriba’s world-class team has revolutionized treasury and financial management solutions, which have proven to be especially critical during these challenging times for multinational corporations,” said Hamza Benamar, CFO of Kyriba. “I look forward to leveraging my decade-long fintech experience and track record of finance leadership in Fortune 500 technology companies to accelerate Kyriba’s growth and help position the company as the leader of Active Liquidity Management.”

Benamar has engineered and executed double-digit growth for innovative global organizations for the past 25 years. With 12 years of international experience in Europe, Asia and Latin America, Hamza has driven financial performance, assessed risk and spearheaded transactions, acquisitions and divestitures for industry-leading public and private companies, including Amgen, Wolters Kluwer and SunGard.

“Kyriba has pioneered the new market space of Active Liquidity Management, which is fundamental to managing risk, fostering growth and optimizing costs, especially in times of disruption and volatility,” said Thomas Butta, CMO of Kyriba. “Kyriba has the rare opportunity to be seen as vital to the strategic interests of our customers and partners. I look forward to shaping and elevating this hugely strategic, real-time, value-creation opportunity for the office of the contemporary CFO and its IT partners.”

Butta joins Kyriba with more than 20 years of CMO leadership roles across disruptive SaaS market categories, including open source, product lifecycle management, customer experience management, and cloud monitoring and observability. As CMO for SignalFx, Butta most recently took the company from a venture-backed start-up to an acquisition by Splunk. Before that, he was CMO at Sprinklr where he created the Digital Customer-First Transformation System that has helped big brands become more relevant in the digital era. Butta was also CMO at Red Hat, PTC, and AppNexus.

Both executives join Kyriba as it expands its international footprint, partners with major international organizations, and delivers innovative, new solutions. Kyriba’s 100% SaaS, multi-tenant cloud-native Active Liquidity Network connects systems, applications, and data that expands an organization's capability to improve financial performance and add agility and resilience to its finance function. More than 20% of the global Fortune 500 use Kyriba, as well as thousands of other Kyriba clients, including the addition of nearly 300 multinationals in the past 12 months.

The company has been recognized as a “Leader” by industry analyst report IDC MarketScape, and Aite Group identified Kyriba as the “Best in Class” cloud treasury and risk management solution. In 2020, The Software Report named Kyriba among the Top 100 Software Companies in the world, and ranked Kyriba CEO Jean-Luc Robert as one of the Top 50 SaaS CEOs. The Company was also named for the eighth time among Inc. 5000’s fastest growing private companies and Global Finance Magazine awarded Kyriba for its supply chain finance and payments solutions, and recognized the company as the “Most Innovative Fintech in North America”.

About Kyriba

Kyriba empowers CFOs and their IT counterparts to transform how they optimize financial technology solutions, de-risk ERP cloud migration, and activate liquidity as a dynamic, real-time vehicle for growth and value creation. With 2,000 clients worldwide, including 20 percent of Fortune 500 companies, Kyriba’s pioneering Active Liquidity Network connects internal applications for treasury, risk, payments and working capital with vital external sources such as banks, ERPs, trading platforms, and market data providers. Based on a secure, scalable SaaS platform that leverages artificial intelligence, Kyriba enables thousands of companies worldwide to maximize growth opportunities, protect against loss from fraud and financial risk, and reduce costs through advanced automation. Kyriba is headquartered in San Diego, with offices in New York, Paris, London, Frankfurt, Tokyo, Dubai, Singapore, Shanghai and other major locations. For more information, visit www.kyriba.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200924005120/en/

Contacts

Daniel Shaffer, dshaffer@kyriba.com, +1 858-263-2218

Permalink : https://www.aetoswire.com/news/kyriba-appoints-cfo-hamza-benamar-and-cmo-thomas-butta/en

Sustainable lighting solutions to enhance community infrastructure – bringing a range of social, economic, and environmental benefits

Abu Dhabi, United Arab Emirates-Tuesday 22 September 2020 [ AETOS Wire ]

The Zayed Sustainability Prize has announced that solar-powered lighting solutions developed by one of its previous winners have been installed in the Egyptian village of Habisha, in the Asyut Governorate – as the latest deployment from the UAE-driven humanitarian initiative, 20by2020. With an aim to improve standards of living and create a host of new prospects for residents of the community, more than 50 high-performance energy-efficient LED lights have been fixed on the main street of the village— which are expected to benefit over 3,500 people daily.

The deployment in Egypt was organised by 20by2020, a UAE humanitarian initiative led by the Zayed Sustainability Prize in partnership with Abu Dhabi Global Market, Abu Dhabi Fund for Development, Mubadala Petroleum, the UAE’s Ministry of Tolerance and Coexistence, Masdar and Majid Al Futtaim.

The new solar lights which were developed by Sunna Design, a France-based SME that won the Zayed Sustainability Prize in 2018 under the ‘Energy category’, are expected to positively impact the residents in various ways; allowing them to work, socialise and feel secure after dark – while protecting the progress being made in the global fight against climate change.

Commenting on the installation in Egypt, H.E. Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Director General of the Zayed Sustainability Prize, said: “Our strong and distinguished relationship with Egypt is built on the firm foundations laid by the UAE’s founding father, the late Sheikh Zayed, which continues to grow and prosper in line with the UAE leadership’s directives to achieve the mutual interests of our two close countries and people. This latest deployment is part of the Zayed Sustainability Prize’s efforts to further complement the late Sheikh Zayed’s enduring humanitarian legacy as the initiative contributes to the transformation of lives in Habisha village through a solar lighting solution which will bring long-term economic, social and educational benefits.”

H.E. Al Jaber added: “We are fortunate to have such strong support from our partners, Abu Dhabi Global Market, Abu Dhabi Fund for Development, Mubadala Petroleum, Ministry of Tolerance and Coexistence, Masdar and Majid Al Futtaim, with whom we share Sheikh Zayed’s humanitarian vision, and we value the cooperation of Egypt’s Ministry of Electricity and Renewable Energy in implementing this initiative.”

The lights were installed on the main street in the heart of the village, which has houses on both sides, and serves as the only entry and exit route for the whole community. Essential shops in the area, such as the local supermarket, have already begun reaping the commercial benefits of greater illumination. The new lights allow longer opening hours with customers who frequent them now able to enjoy greater personal security after dark. Furthermore, children now can feel safe when travelling home in the evenings, allowing the youth to use the time to study later, leading to longer term educational benefits. Similarly, with no playground in the village, the children can now entertain themselves and each other in the street, which is significantly less dangerous thanks to the sustainable lighting. The social benefits are also true of adults in the village with more time for community interactions, made possible by the lights.

H.E Dr. Mohamed Shaker, Egypt’s Minister of Electricity and Renewable Energy stated: “The 20by2020 initiative in the Asyut Governorate supports Egypt’s strategy of deploying cost-efficient renewable energy sources that take environmental protection into account while supporting villages and cities’ electrification needs, in both urban areas and remote communities of the country.”

H.E Dr. Shaker added, “I would like to express my thanks and appreciation to the 20by2020 initiative, its strategic partners and the UAE’s leadership, as we believe that such efforts further complement our close relationship and Egypt’s robust plans to optimise services and effectively reach all segments of society through value-added sustainable solutions that make a difference in people’s quality of life.”

At the end of Ramadan, the 20by2020 initiative completed a similar installation outside of Prince Hamzah Hospital in Amman, Jordan— for the benefit of the hospital’s healthcare workers and frontline staff who were treating the largest number of COVID-19 patients in the country.

As part of the initiative’s first phase, a total of five deployments have been rolled out to date, including energy, health and food-related solutions in Jordan, Nepal, Tanzania, and Uganda. 20by2020 also plans to deploy solutions to another 15 countries, with the scheduling dependent on individual country-specific conditions in light of the global pandemic. Upcoming technology deployments include water and energy-related projects in Cambodia, Bangladesh, Madagascar, Indonesia, and Costa Rica.

Contacts

Hill+Knowlton

Medhat Juma, Senior Consultant, +971 523596128

Medhat.juma@hkstrategies.com

Ross Macdonald, Group Account Director, +971 565025153

ross.macdonald@hkstrategies.com

Permalink : https://www.aetoswire.com/news/uaersquos-20by2020-initiative-lights-up-remote-community-in-egypt/en 

Iconic Brand to Deliver the Flavor of New York to All of Dubai

JERICHO, N.Y.-Thursday 17 September 2020 [ AETOS Wire ]

(BUSINESS WIRE) -- Nathan’s Famous, Inc., the American tradition serving New York favorites for more than 100 years, announced the Dubai launch of its partnership with Kitopi, the world’s leading managed cloud kitchen platform, at the end of August. Partnering with Kitopi earlier this year, Nathan’s has officially launched its partnership to Dubai with the plans to expand to Kuwait, Saudi Arabia and Abu Dhabi within the next six months. Nathan’s Famous will also introduce a new menu item, the Burj-urger, which is made with 16 angus-beef patties topped with American cheese served on a toasted buttered potato bun, to be exclusively distributed across the Middle East.

"This partnership with Kitopi gives Nathan’s Famous an exciting position in the Gulf Region, allowing us to expand our service and offer the flavor of New York to everyone in Dubai," states James Walker, Senior Vice President, Restaurants. “With the response we have experienced since announcing our Mezzan distribution, we are confident that the people of Dubai will love both our 100-year-old classics as well as all the new menu items we have introduced, specifically the Burj-urger.”

Customers in Dubai can order menu items from Nathan’s Famous classic hot dog to its new hand-dipped chicken sandwiches through the following restaurant delivery platforms: Zomato, Deliveroo, Careem and Talabat.

“What this partnership with an iconic, 100-year-old brand reaffirms is how important it is to embrace innovation, in order to succeed,” says Paul Zoghbi, Managing Director - EMEA at Kitopi. “We are thrilled to partner with Nathan’s to help them expand in the Gulf, bringing the people of Dubai a taste of New York with their much-loved comfort food.”

As another portion of Nathan’s Famous expansion into the Middle East, Nathan’s has recently partnered with Mezzan to manufacture and distribute Halal hot dogs across the Gulf Region. On top of the expansion into the Middle East, Nathan’s is growing across the globe, with a recent 30 store deal signed with SOCAR in and around Kiev, Ukraine,

To learn more Nathan’s Famous, visit www.nathansfamous.com

About Nathan’s Famous

Nathan’s is a Russell 2000 Company that currently distributes its products in 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, Guam, and fourteen foreign countries through its restaurant system, foodservice sales programs and product licensing activities. Last year, over 700 million Nathan’s Famous hot dogs were sold. Nathan’s was ranked #22 on the Forbes 2014 list of the Best Small Companies in America and was listed as the Best Small Company in New York State in October 2013. For additional information about Nathan’s, please visit our website at www.nathansfamous.com.

About Kitopi

Kitopi is the world’s leading state-of-the-art, managed cloud kitchen platform. Founded in January 2018, Kitopi is dually headquartered in New York and Dubai, and has more than 1500 employees. It currently operates more than 30 kitchens in 5 countries (UK, USA, KSA, UAE and Kuwait), partnering with more than 120 restaurants to drive forth its mission of powering the food economy by revolutionizing the way people can access food.

Except for historical information contained in this news release, the matters discussed are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended that involve risks and uncertainties. Words such as “anticipate”, “believe”, “estimate”, “expect”, “intend”, and similar expressions identify forward-looking statements, which are based on the current belief of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially include but are not limited to: the status of our licensing and supply agreements, including the impact of our supply agreement for hot dogs with John Morrell & Co.; the impact of our indebtedness, including the effect on our ability to fund working capital, operations and make new investments; economic; weather (including the impact on the supply of cattle and the impact on sales at our restaurants particularly during the summer months), and change in the price of beef trimmings; our ability to pass on the cost of any price increases in beef and beef trimmings; legislative and business conditions; the collectability of receivables; changes in consumer tastes; the ability to attract franchisees; the impact of the minimum wage legislation on labor costs in New York State or other changes in labor laws, including regulations which could render a franchisor as a “joint employee” or the impact of our new union contracts; our ability to attract competent restaurant and managerial personnel; the enforceability of international franchising agreements; the future effects of any food borne illness, such as bovine spongiform encephalopathy, BSE and e coli; and the risk factors reported from time to time in the Company’s SEC reports. The Company does not undertake any obligation to update such forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200916005544/en/

Contacts
Kate Laird
Trevelino/Keller
404.214.0722 x.125
klaird@trevelinokeller.com

Permalink : https://www.aetoswire.com/news/nathanrsquos-famous-launches-kitopi-partnership-to-bring-nathanrsquos-famous-to-all-of-dubai-via-delivery/en

She’s Next, Empowered by Visa and Small Business Street Teams Go Virtual as Part of our Quest to Reach 50 Million Small Businesses Globally

Contacts

Kryssa Guntrum
415.805.4488
kguntrum@visa.com

Permalink : https://www.aetoswire.com/news/visa-helps-prepare-small-businesses-for-the-holiday-buying-season-as-national-small-business-week-begins/en

NOVI, Mich. -Friday 18 September 2020 [ AETOS Wire ]

~ Company to use funds to pursue additional new acquisitions and organic expansions to provide added value to customers around the globe ~

~ Investors include Oxford Properties, BentallGreenOak, D1 Capital Partners, Cohen & Steers, OPTrust, CenterSquare Investment Management, Morgan Stanley Tactical Value, among others ~

~ Oxford Properties Group President Michael Turner to join Lineage’s Board of Directors ~

~ Company to name new Board Observers, including BentallGreenOak’s John Carrafiell and SOHO China’s Zhang Xin ~

(BUSINESS WIRE)-- Lineage Logistics, LLC (“Lineage” or the “Company”), the world’s largest and most innovative temperature-controlled industrial REIT and logistics solutions provider, today announced it has raised $1.6 billion in equity from new and existing strategic partners. Participating investors include Oxford Properties Group (“Oxford Properties”), BentallGreenOak, D1 Capital Partners, Cohen & Steers, OPTrust, CenterSquare Investment Management, and investment funds managed by Morgan Stanley Tactical Value, among others.

“This significant investment -- from both new and existing investors -- is validation of our business model, our innovative strategy and our plans to continue expanding our footprint as the world’s largest temperature-controlled warehousing and logistics company,” said Greg Lehmkuhl, President and CEO of Lineage. “As we reimagine the food supply chain and execute on our company purpose to eliminate waste and help feed the world, we remain focused on driving value for our more than 5,000 customers by operating globally and deploying industry-changing technologies to create efficiencies across our 320 facilities.”

During 2020, Lineage has announced 16 acquisitions and executed on 15 new expansions and greenfield facilities. The Company also continues to develop a number of the world’s most advanced fully automated warehouses that will reduce environmental intensity, while providing flexible and expansive capacity for customers during a period where the global pandemic is putting acute strain on the global food supply chain. New capital will fuel these increasingly large investments.

“Since the company’s founding in 2008, we have been on a mission to transform the food chain by building a global platform, fueling it with advanced technologies and putting in place a world-class leadership team to lead this industry,” said Adam Forste, Co-Executive Chairman of Lineage and Co-Founder and Managing Partner at Bay Grove, which founded and manages Lineage Logistics. “From the acquisition of our first warehouse, we have been able to build Lineage by having great investors -- this capital raise adds an incredible group of new strategic partners and board participants that will further accelerate our ability to grow and innovate.”

In conjunction with this capital raise, Oxford Properties’ President, Michael Turner, will join Lineage’s Board of Directors, bringing with him decades of commercial real estate experience. Oxford is a leading global investor, developer and manager of commercial real estate with approximately $60 billion in assets under management. Operating across four continents, Oxford’s portfolio spans over 100 million square feet across both global gateway cities and high-growth hubs where it invests in properties, portfolios, development sites, debt, securities and platforms across the risk-reward spectrum.

“Over recent years, Oxford has substantially increased our exposure to logistics real estate by selectively investing in a series of best-in-class operators across the globe, and Lineage represents the premier operator in cold storage sector,” said Oxford Properties’ President Michael Turner. “I look forward to working with the Lineage management team and the rest of the Board, which has transformed the Company into the global market leader. Our investment demonstrates our confidence in the team, the platform it has built and Lineage’s growth opportunities.”

The Company also announced new Board Observers, each with extensive real estate investment experience, including John Carrafiell, a Founder & Senior Managing Partner of real estate investment management and advisory firm BentallGreenOak, and Zhang Xin, CEO SOHO China, one of China’s largest and best known commercial property developers.

Morgan Stanley and Eastdil Secured acted as placement agents, and Latham & Watkins, LLP served as legal counsel for Lineage.

About Lineage Logistics

Lineage is the world’s largest and most innovative provider of temperature-controlled logistics solutions. Lineage’s expertise in end-to-end logistical solutions, its unrivaled real estate network, and its use of technology combine to promote food safety, increase distribution efficiency, advance sustainability, lessen environmental impact, and minimize supply chain waste. As a result, Lineage helps customers ranging from Fortune 500 companies to small family-owned businesses increase the efficiency and protect the integrity of their temperature-controlled supply chain. Lineage has grown its cubic feet by 60% annually since 2008 to 1.9 billion cubic feet, making it the largest global temperature-controlled industrial REIT. In recognition of the company’s leading innovations, Lineage was recognized as the No 1. Data Science company on Fast Company’s Annual list of The World’s Most Innovative Companies in 2019, in addition to ranking 23rd overall in an evaluation of thousands of companies worldwide. (www.lineagelogistics.com)

About Bay Grove

Bay Grove is a principal investment firm dedicated to partnering with strong management teams to invest in and build long-term platform investments. Since 2008, Bay Grove has built Lineage Logistics through acquisitions and investments completed in partnership with entrepreneurs, customers and employees. The firm has deep experience in the warehousing and logistics industry and also seeks to make investments in other attractive sectors. Bay Grove is based in San Francisco. (www.bay-grove.com)

View source version on businesswire.com: https://www.businesswire.com/news/home/20200916005331/en/

Contacts

Lineage Logistics
Megan Hendricksen
949.247.5172
mhendricksen@lineagelogistics.com

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