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Adobe buys Magento Commerce for $1.68 Billion

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NEW DELHI: US-based software company Adobe has acquired Magento Commerce for $1.68 billion,subject to customary purchase price adjustments.

The addition of the Magento Commerce Cloud will enable commerce to be seamlessly integrated into the Adobe Experience Cloud, delivering a single platform that serves both B2B and B2C customers globally.

The Magento Platform brings together digital commerce, order management and predictive intelligence into a unified commerce platform enabling shopping experiences across a wide array of industries.

Adobe is the leader in designing and delivering digital experiences through content and data. At the core of every great experience are content and data, which enable the consistent, personal, intuitive experiences consumers have come to expect. Commerce is also integral to the customer experience. Consumers and businesses now expect every interaction to be shoppable – whether on the web, mobile, social, in-product or in-store.

Magento brings Adobe Experience Cloud digital commerce enablement and order orchestration for both physical and digital goods across a range of industries, including consumer packaged goods, retail, wholesale, manufacturing and the public sector. The Magento Platform is built on proven, scalable technology supported by a vibrant community of more than 300,000 developers. The Magento partner ecosystem provides thousands of pre-built extensions, including payment, shipping, tax and logistics. This level of flexibility gives businesses the ability to quickly ramp and iterate their commerce capabilities for their unique business needs.

Current Magento customers include brands like Canon, Helly Hansen, Paul Smith and Rosetta Stone. Adobe and Magento share joint customers including Coca-Cola, Warner Music Group, Nestlé and Cathay Pacific.

“Adobe is the only company with leadership in content creation, marketing, advertising, analytics and now commerce – enabling real-time experiences across the entire customer journey,” said Brad Rencher, executive vice president and general manager, Digital Experience, Adobe.

“Embedding commerce into the Adobe Experience Cloud with Magento enables Adobe to make every moment personal and every experience shoppable,” added Brad.

“Adobe and Magento share a vision for the future of digital experiences that brings together Adobe’s strength in content and data with Magento’s open commerce innovation,” said Mark Lavelle, CEO, Magento.

“We’re excited to join Adobe and believe this will be a great opportunity for our customers, partners and developer community,” Lavelle.

Upon close, Magento CEO Mark Lavelle will continue to lead the Magento team as part of Adobe’s Digital Experience business, reporting to executive vice president and general manager Brad Rencher.

The transaction, which is expected to close during the third quarter of Adobe’s 2018 fiscal year, is subject to regulatory approval and customary closing conditions. Until the transaction closes, each company will continue to operate independently.

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STL’s revenues up 30%; strengthens presence in UK, Europe and US

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NEW DELHI: STL, an industry leading integrator of digital networks today reported a robust 30% YoY revenue growth in its financial results for the second quarter ended September 30, 2021. STL recorded Rs 15.08 billion in revenues with ~43% coming in from the EMEA region and ~12% from Americas, demonstrating increased global traction for its integrated digital network solutions.

The world is witnessing massive network creation in the areas of 5G, FTTx and Open RAN with an increased focus on optical connectivity. This has led to rapid growth in fibre demand and a buoyant long term outlook. With its global footprint, fibre capacity of 50 million fibre kilometers and planned cable capacities of 42 million fibre kilometers, STL is very well positioned to lead in this decade of network creation.

Delivering on the strategic roadmap
Over the past few quarters, STL has taken a series of strategic steps to deliver on its global plans through the company’s three growth levers – Grow optical business, Globalise system integration, and Build disruptive wireless solutions. This focused strategy is now yielding results.

Optical Networking – STL is ready for the next phase of growth with global solution centres and burgeoning demand for its technology oriented optical interconnect portfolio. Focusing on advanced optical technologies, STL also announced general availability of its pFTTx offering
System Integration – With its field-to-factory expertise, the company announced 2 top tier wins to the tune of GBP 42 million in the UK
Wireless Solutions – This quarter, STL launched Accellus, its flagship solution for 5G-ready, open and programmable networks. With its disruptive efforts in this area, STL has built formidable intellectual property with 54 patents as of Q2 FY’22
Accelerated technology innovation
The company continued to focus heavily on technology innovation, taking big steps like investing ~3.5% of its revenues in R&D and announcing a 5G R&D lab in the UK. STL further strengthened its patent portfolio in Q2 FY’22, taking the total patent count to 636. 5G wireless solutions and optical interconnect – STL’s strategic growth areas, contributed to more than 50% of IP filings in the current quarter. As a result of some path breaking innovations on the software front, STL was awarded the TMForum Catalyst award for its significant contributions to the acceleration of digital transformation in the telecom industry.

ESG focus at the core
While focusing on technology innovation and global expansion, STL moved forward on its ESG goals with full vigour. The company built water resilience in 12 villages and impacted 2.1 Lakh lives. With these efforts, STL won 7 awards in India and internationally, including the prestigious Energy and Environment Foundation (EEF) global WasteMet and Sustainability awards.

inancial highlights (Rs billion)

P&L (Rs. Bn) Q2′ FY22 Q2’FY21 YoY growth H1’FY22 H1’FY21 Half year growth
Revenue 15.08 11.60 30% 28.17 20.36 38%
EBITDA 2.69 2.12 27% 5.08 3.43 48%
PAT 1.06 0.58 81% 2.22 0.64 244%

Elaborating on these achievements, Ankit Agarwal, Managing Director, STL  remarked, “With our eyes on the future, we have been taking some formative steps over the past few quarters. We have elevated our global leadership team, executed strategic M&A and launched disruptive solutions for programmable, optical and wireless networks. These steps are now translating into revenue growth. With our robust optical, wireless and system integration capabilities, we are all set to deliver on the new architecture of digital networks and take the power of connectivity to billions across the globe.”

 

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Airtel launches ‘Airtel IQ Video’

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NEW DELHI: Bharti Airtel today announced the launch of its Video Platform as a Service (CPaaS) – ‘Airtel IQ Video’. The solution has been developed by Airtel’s in-house engineering teams.

By leveraging Airtel’s resilient cloud, and cutting edge video technologies, Airtel IQ Video allows businesses to build world-class video streaming products for large and small screens with minimal investment in infrastructure and technology. Airtel IQ Video is an end-to-end managed solution that brings convenience along with cost benefits. It encompasses a variety of features ranging from app development, content hosting, curation and lifecycle management to search and discovery, analytics and monetisation models (advertising, subscriptions, transactions).

Take the example of Raj TV, who have used Airtel IQ Video to take the OTT route to serve increasingly digitally savvy consumers. Says M Raajhendhran, Managing Director at Raj Television Network “We had a content library of over 30,000 hours with some of the best Tamil, Telugu, Kannada and Malayalam films. But most of this content was on tapes/analog formats and audiences also want to access these through OTT. Using Airtel IQ Video, we have been able to digitize our content, host it on Airtel’s cloud platforms and offer it to audiences both in India and across the global through our own OTT app. Importantly, we have been able to achieve this at the fraction of the cost in very quick time with access to the best technology that has ensured the user experience is excellent. We look forward to deeping our relationship with Airtel.”

According to RBSA Advisors, India’s video OTT market is expected to touch USD 12.5 billion by 2030, from USD 1.5 billion, currently. The report also highlighted that the next wave of growth in the OTT landscape will come from tier II, III and IV cities and regional languages at the centre of this growth story. Keeping these changing trends in sight, existing regional OTTs are looking to scale their technology platforms to accommodate the rising number of users. Traditional content providers such as regional TV broadcasters are looking to digitize their content libraries through OTT applications.

Adarsh Nair, Chief Product Officer, Bharti Airtel said: “Airtel IQ Video brings an easy-to-use platform that can enable anyone to quickly build and scale their business in video streaming. This will encourage enterprises to focus on content while Airtel IQ Video anchors the end-to-end technology ensuring a great viewing experience for customers. With Airtel IQ Video, we expect to see more content startups and traditional content companies coming online and directly engaging with consumers digitally.”

During the beta phase, Airtel IQ Video has also been deployed by Eros Now and CG Telecom of Nepal. Airtel is expecting to onboard 50+ brands on the platform in coming year as interest from market has been high.

Niravana Chaudhary, Managing Director, CG Group shares, “We have aspirations to launch a cutting edge IPTV and Video OTT platform as part of our telco offering in Nepal. Airtel’s proven execution in video based offerings with Airtel Xstream and keen understanding of a telecom company paved the way for our partnership. Airtel IQ Video will power both our Video OTT app and IPTV, bringing seamless streaming to our customers in Nepal on devices of their choice.”

Ali Hussein, CEO, Eros Now, says, “We have cherished our partnership with Airtel over the years and are now excited about our technology collaboration. Their robust infrastructure and extensive network coverage has been helping us deliver blockbuster content seamlessly to the end consumers. Airtel’s latest ‘Airtel IQ Video’ platform is an innovative offering that is built to scale and can assist Eros Now in reinforcing its value proposition to the rapidly expanding video subscriber base.”

Airtel IQ, a cloud-based omni-channel communications platform, enables brands to deepen engagement with customers through timely and secure communication. Airtel IQ eliminates the need for multiple communication platforms for different channels. With just a slice of code, businesses can embed communication services such as Voice, SMS, IVR, Video in their applications and digital properties across desktop and mobile, all through a unified platform.

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Nokia selected by T-2 Slovenia in five-year 5G deal as sole supplier

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NEW DELHI: Nokia today announced that it has been selected as the sole vendor by Slovenia’s T-2 in a five-year deal to supply equipment from its comprehensive AirScale 5G portfolio.

The new deal will see Nokia upgrade T-2’s existing Single RAN radio footprint as well as introduce enhanced 5G new radio (NR) services. The project is expected to deliver ultra-fast, low-latency, and high-capacity 5G connectivity delivering superior coverage to businesses and consumers alike.

Nokia will provide equipment from its latest AirScale radio portfolio, all powered by Nokia’s energy-efficient ReefShark System-on-Chip technology. This includes 5G RAN, AirScale base stations, and Nokia AirScale radio access products including its Single RAN portfolio for both indoor and outdoor coverage. These solutions will offer faster speeds and wider mobile coverage. Nokia will also provide digital design and deployment for a faster time to market as well as optimization and technical support services.

T-2 is one of the largest telecommunications providers in Slovenia and recently secured frequencies in the 2100 MHz and 2300 MHz bands at Slovenia’s spectrum auction. Nokia is a long-standing provider and key strategic supplier to T-2.

Jozef Zrimsek, CTO at T-2, said: “This important project will enhance the delivery of compelling new 5G services and use cases to our subscribers across the country. We are excited to expand our partnership with Nokia.”

Tommi Uitto, President of Mobile Networks at Nokia, said: “We are proud to expand our partnership with T-2 into the 5G era as their sole vendor. Our latest AirScale portfolio will help support T-2’s ambitious 5G roll-out plans and deliver incredible connectivity experiences across the country.”

 

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