Home / 2021 / February / 17

Daily Archives: February 17, 2021

iRemedy’s “Project Vaccinate” Program is Gaining Traction in 2021 With Over 130 Million Needles and Syringes Delivered

STUART, Fla., Feb. 17, 2021 (GLOBE NEWSWIRE) — The iRemedy Healthcare Companies, Inc. (“iRemedy” or “the Company”), pioneer of the iRemedy™ medical supply marketplace, today announced that in association with the Company’s effort to procure and deliver one billion FDA-approved hypodermic needles and syringes in support of COVID-19 vaccination programs worldwide, over 130 million units have been delivered to customers since announcing its program in November 2020.

Having titled this initiative “Project Vaccinate,” iRemedy delivered over 30 million units in late 2020 and nearly 100 million units in the first six weeks of 2021 in association with its trusted partner, Northfield Logistics.

With the initiative continuing to gain traction, it is expected that demand for the one billion needles and syringes procured by iRemedy last Fall will exhaust its supply on or before August 2021. Consequently, the Company is in the process of negotiating greater production capacity with its factory partners to maintain continuity of supply to meet growing global need for high quality injection devices for administering COVID-19 vaccinations, flu shots and other critical medicines.

Additionally, in response to growing global demand for “low-dead space” syringes, iRemedy has procured production of 150 million units, taking delivery of approximately 50 million per week — most of which are presold prior to their arrival. Late last month, Reuters reported that the vaccine made by Pfizer and its German partner BioNTech is shipped in vials initially indicated to hold five doses. However, six doses can be drawn with low-dead space syringes, which minimize the amount of vaccine left in the syringe after use. The article states, “If healthcare providers can reliably extract the sixth dose, it would allow supplies to be stretched 20% further…”

“Since the onset of the global pandemic, iRemedy has continued to be broadly viewed as a trusted source for quality PPE products, rapid COVID test kits, and now needles and syringes,” stated Tony Paquin, Co-founder and Chief Executive Officer of iRemedy. “We do not bear this responsibility lightly. We are helping to save lives and will do everything within our power to ensure that frontline healthcare providers have the tools and equipment they require to battle the virus when and where they need them. Every member of the iRemedy team shares in this responsibility and takes tremendous pride in the role we are individually and collectively playing in the medical crisis that is proving unprecedented in our lifetime.”

About The iRemedy Healthcare Companies
With 15 years in healthcare supply, iRemedy is a trusted and reliable partner for acquiring medical supplies and Personal Protective Equipment. We service over 5,000 healthcare provider, commercial and government clients nationwide. We guarantee access to verified supplies by sourcing directly from established manufacturers and distributors around the world. Our industry-leading technology and group purchasing power enable transparency and competition, driving consistently low pricing for our customers every day. iRemedy is headquartered in Stuart, Florida and has offices in New York, California and Washington, and distribution centers in Florida and Arizona. For more information, please visit www.iRemedy.com.

Keisha Graham
407-395-4283 | keisha@iremedy.com


IIBA Announces Global Leadership Changes

Former IIBA Board Chair Keith Ellis to Lead Engagement Strategy

PICKERING, Ontario, Feb. 17, 2021 (GLOBE NEWSWIRE) — The International Institute of Business Analysis™ (IIBA®) Board of Directors announces key changes to the global leadership team, including the appointment of a new Board Chair and Vice Chair, a new Chief Financial and Administrative Officer and the addition of a newly created executive role.

Former Board Chair Keith Ellis resigned from the association’s board in December 2020. At the January 2021 board meeting, Barbara Carkenord was appointed Chair and Heather Mylan-Mains was appointed Vice Chair replacing former Vice Chair Jon Buttriss, who will remain on the board in a director capacity.

As a foundational IIBA member, Carkenord was both a contributor and expert reviewer on various versions of the globally recognized standard for business analysis, A Guide to the Business Analysis Body of Knowledge® (BABOK® Guide). Her focus on critical thinking and increasing business value drove her to help define the business analysis profession. She is co-founder of two successful US-based training and consulting companies and author of Seven Steps to Mastering Business Analysis, First Edition.

Board Vice Chair, Mylan-Mains is also a contributor to the BABOK® Guide and is a Business Analyst Consultant and past President of the Central Iowa Chapter. She has also served as Deputy Vice President and Volunteer Vice President of IIBA Chapters in the US. She is an active speaker at business analysis conferences worldwide.

“These changes on the board reflect the dynamics of our membership association. Keith’s support as Chair helped position IIBA to quickly respond to the emerging COVID-19 threat in early 2020 and, as we moved forward in the year, to provide critical leadership as we began working on a strategic plan process that will complete in early 2021. I am delighted the board has selected Barbara and Heather for their new leadership roles. They are both well known in the business analysis community from their work with IIBA Chapters and supporting the adoption of business analysis standards. I would also like to thank Jon for his work as Vice Chair and for remaining on the board in his role as director. I look forward to working together to lead IIBA’s global growth and continue to shape the practice of business analysis,” said Delvin Fletcher, President and CEO of IIBA.

Announcing an addition to IIBA’s leadership team, Paula Pergantis, former Senior Vice President, Finance and Corporate Services at Food, Health & Consumer Products of Canada, was named as Chief Financial and Administrative Officer in October 2020. Pergantis brings an extensive background in financial and operations leadership in both the private and not-for-profit sectors to the role. Her demonstrated ability to streamline business operations that drive growth and increase efficiency will support IIBA’s 2021 global strategy. Pergantis replaces former CFAO, Gail Cosman, who retired in Q4 2020.

Following his departure from the board in December, Ellis has accepted a new leadership role with IIBA. He will join IIBA in February as Chief Engagement and Growth Officer responsible for leading key areas of IIBA’s global growth strategy, including strategic partnerships, organizational relationships, and membership value. In this role, Ellis will lead IIBA’s Endorsed Education Provider (EEP), academic institution, and enterprise partner relationships, as well as oversee global Membership and Chapter engagement.

Ellis brings to IIBA more than 20 years of leadership experience including roles as CEO, COO, board member, investor, and mentor to various companies. He has experience with IDC, CGI, IAG Consulting, EnFocus Solutions, and Anow, among others, and co-founded and sold Digital Mosaic, a business analysis company. Ellis is a recognized voice in the business analysis community and has published and spoken extensively with the Enterprise Architecture Symposium, Business Analyst Times, Modern Analyst, and other outlets in the field in addition to his contributions to IIBA.

“Keith challenged the board to look at new ways of doing things. I am honored to take on the role of Chair and to be working with Heather as Vice Chair. The board has approved an aggressive plan to expand our presence around the world and the new CEGO role will help IIBA’s leadership team focus on creating impactful opportunities to advance the global practice of business analysis,” said Barbara Carkenord, CBAP, Chair IIBA Board of Directors.

“IIBA’s commitment to lead the global business analysis community and professional standards starts with having the right people aligned to execute that mission. Keith is a results-oriented leader and will be a tremendous addition to the team. Paula brings a vast amount of experience to the CFAO role, impacting core business systems and analysis. We have a strong, collaborative team that I look forward to working alongside to face the opportunities before us in 2021 to support our growing community,” said Fletcher.

More information about IIBA governance and senior leadership can be found at https://www.iiba.org/about-iiba/governance/.

About IIBA

International Institute of Business Analysis™ (IIBA®) is a professional association dedicated to supporting business analysis professionals to deliver better business outcomes. IIBA connects almost 30,000 Members, over 100 Chapters, and more than 500 training, academic, and enterprise partners around the world. As the global voice of the business analysis community, IIBA supports recognition of the profession, networking and community engagement, standards and resource development, and comprehensive certification programs. For more information, visit iiba.org.


Ann Cain
Director, Communications

TigerGraph Raises $105 Million to Accelerate Graph Analytics on the Cloud

Record Funding for Graph Database Category, Led by Tiger Global, Signals the Next Wave in Analytics to Fuel Powerful Insights for Artificial Intelligence

REDWOOD CITY, Calif., Feb. 17, 2021 (GLOBE NEWSWIRE) — TigerGraph, provider of the leading graph analytics platform, today announced it has raised $105 million in Series C funding, the largest funding round to date within the graph database and analytics market. The round was led by Tiger Global and brings TigerGraph’s total funding raised to over $170 million.

The investment reflects TigerGraph’s growth and the massive potential as businesses continue to move to the cloud. With the transactional and analytical workloads moving to the cloud made possible by companies like Snowflake, Confluent, and Databricks, TigerGraph is quickly becoming the graph database of choice to connect, analyze and learn new insights from the data. With its distributed native graph architecture, TigerGraph helps organizations scale fast and analyze many different aspects of data to be used with each other to form new models and generate new insights. These new patterns and insights enhance a company’s analytics or machine learning capabilities and can be deployed anywhere with multi-cloud flexibility and support the data security requirements for regulatory compliance.

Over the last 12 months with the COVID-19 pandemic, companies have embraced digital transformation at a faster pace, driving an urgent need to find new insights about their customers, products, services, and suppliers. Graph technology connects these domains from the relational databases, offering the opportunity to shrink development cycles for data preparation, improve data quality, and identify new insights such as similarity patterns to deliver the next best action recommendation. Data-driven solutions require intelligent apps and connected data that leverage powerful graph engines to connect, analyze and learn from the data companies are storing in the cloud. These events helped TigerGraph experience massive growth, more than doubling revenues and customers over the past year. It has also continued building a very active and fast-growing developer community, receiving the highest marks in a recent analyst report — TigerGraph was named a leader for Graph Data Platforms in the analyst report.

“By 2023, graph technologies will facilitate rapid contextualization for decision making in 30 percent of organizations worldwide,” according to Gartner.1 Mark Beyer, Distinguished VP Analyst with Gartner, shared the following in a Gartner report regarding the adoption of graph technology in the enterprises, “To Graph or Not to Graph? That Is Not the Question — You Will Graph.”2 Organizations of all sizes are adopting graph-based analytics and AI by leveraging the relationships in the connected data to drive better outcomes. TigerGraph is galvanizing the graph and AI community, organizing the first open industry Graph + AI Conference featuring presentations by innovators including UnitedHealth Group, Jaguar Land Rover, Intuit, Intel, Xilinx and Accenture. TigerGraph is deeply involved and on the steering committee for the development of the Graph Query Language standard, GQL, along with other database vendors such as Oracle and Neo4j, and will enthusiastically support the GQL standard immediately upon finalization.

“For over 40 years, businesses’ #1 data management challenge has been how to easily ask business questions across all of their data in real-time to guide their operations. The human brain connects data to derive new insights and helps us decide what to do next. TigerGraph’s mission is to power an enterprise brain with graph and AI that discovers these new insights within the enterprise data stored in the cloud and on-prem,” said Dr. Yu Xu, founder and CEO of TigerGraph. “TigerGraph is leading the paradigm shift in connecting and analyzing data via scalable and native graph technology with pre-connected entities versus the traditional way of joining large tables with rows and columns. This funding will allow us to expand our offering and bring it to many more markets, enabling more customers to realize the benefits of graph analytics and AI.”

TigerGraph’s innovation has been recognized with several recent industry awards and accolades including:

The company will use the funding for product innovation and development to better support its customers, including TigerGraph Cloud on Google Cloud Platform (available March 2021), plus further multi-region support on AWS and Azure. It is also expanding its global reach with local support in Asia and Australia/New Zealand. Meanwhile, the company will scale up with additional hiring in the Americas, EMEA, and APAC to meet increased product demand. The company is hiring in every department – apply now at https://www.tigergraph.com/join-us/.

Helpful Links
● Get TigerGraph
● TigerGraph Cloud
● TigerGraph Website
● TigerGraph Blog
● TigerGraph on Twitter
● TigerGraph on LinkedIn

Gartner Press Release, Gartner Identifies Top 10 Data and Analytics Technology Trends for 202022 June 2020
2 Gartner, Graph Steps Onto the Main Stage of Data and Analytics: A Gartner Trend Insight Report, 14, December 2020

About TigerGraph
TigerGraph is a platform for advanced analytics and machine learning on connected data. Based on the industry’s first and only distributed native graph database, TigerGraph’s proven technology supports advanced analytics and machine learning applications such as fraud detection, anti-money laundering (AML), entity resolution, customer 360, recommendations, knowledge graph, cybersecurity, supply chain, IoT, and network analysis. The company is headquartered in Redwood City, California, USA. Start free with tigergraph.com/cloud.

Media Contact
Cathy Wright
Offleash PR for TigerGraph

Bombardier Announces Full Repayment of Senior Secured Credit Facility

MONTRÉAL, Feb. 17, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) today announced that it has initiated the repayment of the total outstanding balance of $750 million drawn on its $1 billion senior secured term loan facility (the “Facility”) established on August 19, 2020. Payout of the Facility, including all accrued interest and associated fees, will be completed on February 19, 2021.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game-changing planes. Our products and services provide world-class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montréal, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier is a trademark of Bombardier Inc. and its subsidiaries.
All amounts in this press release are in U.S. dollars unless otherwise indicated.

For Information
Mark Masluch
Director, Communications and Public Affairs

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

Superfood Start-up KoRo Uses Descartes Ecommerce Warehouse Management Solution to Fulfill Surging Order Volumes

MUNICH, Germany, Feb. 17, 2021 (GLOBE NEWSWIRE) — Descartes Systems Group (Nasdaq: DSGX) (TSX: DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Berlin-based KoRo Handels GmbH, a leading online provider of quality food directly sourced from the producer to the end consumer, is using the Descartes Ecommerce Warehouse Management Solution (WMS) to scale order fulfillment to meet peak promotions and maintain customer satisfaction.

“Successful influencer marketing combined with the impact of the Covid-19 pandemic has translated into a strong increase in customer demand. The solution from our fulfillment services provider could not scale to manage this growth. This resulted in delayed shipping and our customer service department being flooded with order status inquiries,” said Biggy Le, Head of Processes at KoRo. “We urgently needed a solution and, in just 30 days, we deployed Descartes’ ecommerce WMS to scale fulfillment operations and improve customer satisfaction. We’re now shipping approximately 30,000 packages per month and, even during peak times, orders are shipped on the same day.”

The Descartes Ecommerce WMS solution automates ecommerce processes from initial goods receipt through put-away in the warehouse, order processing, outbound shipment execution and returns management. It collects order information from ecommerce websites, translates it into mobile scanning-driven pick-and-pack processes within the warehouse, initiates the shipment to the customer, and synchronizes receiving and fulfillment information with the customer’s financial and shipment tracking systems. This rapid-to-deploy automation enables small-to-medium-sized retailers to scale to support growing ecommerce demand.

“We’re pleased that our solution is enabling KoRo to enhance the customer experience, reduce the unnecessary demands on their customer service team, and significantly increase order fulfillment capacity,” said Dirk Haschke, VP & General Manager, Ecommerce at Descartes. “Descartes’ ecommerce solutions can be easily adapted to support unique and complex fulfillment requirements, and integrated with a broad range of internal systems, shopping carts and marketplaces to help retailers and online pure players scale their ecommerce business profitably.”

For more information on Descartes’ solutions for ecommerce, visit ecommerce.descartes.com.

About KoRo Handels GmbH

Originally, the Berlin-based company, founded in 2012, sold laundry detergent overproduction in bulk packs at low prices via its own website and Amazon. In 2014, KoRo’s online superfood business got rolling and at the end of 2015, the start-up switched completely to “bulk packs” in the food sector. Today, a wide range of food products is on offer. KoRo employs a large team of nearly 100 permanent and freelance employees. For 2020, the company expects sales of more than 22 million Euros. KoRo has online shops in English, German, French, Dutch, Italian and Finnish and delivers all across Europe. For more information, visit www.koro-shop.co.uk or https://www.korodrogerie.de/.

About Descartes

Descartes (Nasdaq:DSGX) (TSX:DSG) is the global leader in providing on-demand, software-as-a-service solutions focused on improving the productivity, performance and security of logistics-intensive businesses. Customers use our modular, software-as-a-service solutions to route, schedule, track and measure delivery resources; plan, allocate and execute shipments; rate, audit and pay transportation invoices; access global trade data; file customs and security documents for imports and exports; and complete numerous other logistics processes by participating in the world’s largest, collaborative multimodal logistics community. Our headquarters are in Waterloo, Ontario, Canada and we have offices and partners around the world. Learn more at www.descartes.com, and connect with us on LinkedIn and Twitter.

Global Media Contact
Cara Strohack
Tel: +1(800) 419-8495 ext. 202025

Cautionary Statement Regarding Forward-Looking Statements

This release contains forward-looking information within the meaning of applicable securities laws (“forward-looking statements”) that relate to Descartes’ solution offering and potential benefits derived therefrom including potential improvements in order fulfillment capacity; and other matters. Such forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements to differ materially from the anticipated results, performance or achievements or developments expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the factors and assumptions discussed in the section entitled, “Certain Factors That May Affect Future Results” in documents filed with the Securities and Exchange Commission, the Ontario Securities Commission and other securities commissions across Canada including Descartes most recently filed management’s discussion and analysis. If any such risks actually occur, they could materially adversely affect our business, financial condition or results of operations. In that case, the trading price of our common shares could decline, perhaps materially. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purposes of providing information about management’s current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. We do not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

Lithium Werks แต่งตั้ง Jack Perkowski เป็นคณะกรรมการในตำแหน่งกรรมการที่ไม่เป็นผู้บริหาร

ออสติน, เท็กซัสและ ENSCHEDE, เนเธอร์แลนด์, Feb. 17, 2021 (GLOBE NEWSWIRE) — Lithium Werks BV มีความภูมิใจที่จะประกาศการแต่งตั้ง Jack Perkowski เป็นกรรมการที่ไม่เป็นผู้บริหารของคณะกรรมการบริษัท Lithium Werks โดย Perkowski จะร่วมกับผู้ก่อตั้ง T. Joseph Fisher, III และ Christian R. Ringvold เป็นกรรมการของบริษัท

Perkowski มาพร้อมประสบการณ์และความรู้มากมายในด้านกลยุทธ์องค์กร การระดมทุน และการรวบรวมทีมผู้บริหาร

Perkowski ก่อตั้ง ASIMCO Technologies ในปี 1994 และตั้งแต่ปี 1994 ถึงปี 2008 เขาได้ดำรงตำแหน่งประธานคณะกรรมการของ ASIMCO และประธานเจ้าหน้าที่บริหารของบริษัท ภายใต้การนำของ Perkowski ทำให้ ASIMCO กลายเป็นหนึ่งในผู้มีบทบาทสำคัญที่สุดในอุตสาหกรรมชิ้นส่วนยานยนต์ของจีนและได้รับชื่อเสียงในด้านการพัฒนาการบริหารจัดการในท้องถิ่นและการบูรณาการการดำเนินงานในวงกว้างของจีนเข้ากับเศรษฐกิจโลก

ในปี 2009 Perkowski ได้ก่อตั้ง JFP Holdings ซึ่งเป็นบริษัทธนาคารเพื่อการค้าที่ประเทศจีน ซึ่งปัจจุบันเขาดำรงตำแหน่งประธานกรรมการ JFP Holdings ก่อตั้งขึ้นเพื่อช่วยผนวกรวมผู้ให้บริการเทคโนโลยีที่ดีที่สุดในโลกและความรู้เข้ากับเศรษฐกิจที่เติบโตอย่างรวดเร็วของจีนโดยช่วยให้บริษัทต่างชาติสามารถเข้าถึงตลาดจีนและช่วยบริษัทในประเทศพัฒนาขอบเขตการดำเนินงานทั่วโลก

ปัจจุบัน Perkowski ทำหน้าที่ในสภาที่ปรึกษาประเทศจีนของ Magna International Inc. ซึ่งเป็นหนึ่งในซัพพลายเออร์รถยนต์รายใหญ่ที่สุดของโลก, คณะกรรมการที่ปรึกษาศูนย์กลางสำหรับตลาดเกิดใหม่มหาวิทยาลัย Northeastern University, คณะที่ปรึกษาระหว่างประเทศของการจัดการและเศรษฐศาสตร์ (IABME) ที่มหาวิทยาลัย Tianjin University ในประเทศจีน และในฐานะสมาชิกคณะกรรมการบริษัท ADOMANI, Inc. ซึ่งเป็นบริษัทรถยนต์ไฟฟ้าที่อยู่ในตลาดหลักทรัพย์

Perkowski ได้รับการยอมรับอย่างกว้างขวางว่าเป็นผู้เชี่ยวชาญในการทำธุรกิจในประเทศจีน ซึ่งเขาเป็นผู้เขียน Managing the Dragon: How I’m Building a Billion Dollar Business in China นอกจากนี้ Perkowski เป็นนักพูดและนักบรรยายเกี่ยวกับเรื่องของจีนไปยังสื่อกระจายภาพและเสียงบ่อยครั้ง

“เรารู้สึกตื่นเต้นที่ได้ต้อนรับ Jack สู่คณะกรรมการของเรา การติดต่อระหว่างประเทศและไหวพริบทางธุรกิจระดับโลกของเขาจะเป็นประโยชน์อย่างยิ่งต่อ Lithium Werks เนื่องจากเรายังคงเติบโตและขยายธุรกิจในระดับสากลอย่างต่อเนื่อง” T. Joseph Fisher, III ผู้ร่วมก่อตั้งและประธานเจ้าหน้าที่บริหารได้ให้ความเห็น

Lithium Werks เป็นผู้ครอบครองวัสดุลิเธียมไอออนฟอสเฟต เซลล์ สิทธิบัตรทรัพย์สินทางปัญญา LFP และผลิตภัณฑ์ที่ครอบคลุมมากที่สุดในโลก  Lithium Werks ดำเนินธุรกิจในจีน ยุโรป และสหรัฐอเมริกา สำหรับข้อมูลเพิ่มเติม โปรดติดต่อเราที่ www.lithiumwerks.com


Sinch AB (publ): Sinch establishes leadership in US voice communications through acquisition of Inteliquent

Stockholm, Sweden – Sinch AB (publ) – XSTO: SINCH

Sinch AB (publ), a global leader in cloud communications for mobile customer engagement, has entered into a definitive agreement to acquire Inteliquent, the largest independent voice communications provider in the United States, for a total cash consideration of USD 1,140 million on a cash and debt-free basis.

The acquisition establishes Sinch as the leader in voice connectivity for both enterprises and telecom carriers in the US. The favorable unit economics of a fully owned network allows Sinch to maintain its commitment to profitable growth whilst investing forcefully in innovation and go to market capabilities.

Inteliquent powers voice communications for the leading communication service providers and enterprises in North America. It operates a fully redundant, geo-diverse, carrier-grade tier 1 network that is directly connected to every major telecom carrier and covers 94 percent of the US population. The platform handles more than 300 billion minutes of voice calling per year and the company has registered more than 100 million active phone numbers on behalf of its customers.

“Becoming a leader in the US voice market is key to establish Sinch as the leading global cloud communications platform. Inteliquent serves the largest and most demanding voice customers in America with superior quality backed by a fully-owned network across the entire US. Our joint strengths in voice and messaging provide a unique position to grow our business and power a superior customer experience for our customers”, comments Oscar Werner, Sinch CEO.

Inteliquent has built a strong go to market strategy as a trusted partner to category leaders in every sector of communications, including cloud communications, collaboration, unified communications, contact centers and every major US carrier. Close cooperation with partners will be a continued priority after the transaction has closed.

“We’re excited about the tremendous opportunities this combination unlocks, expanding the services we can provide to our customers. Combining our leading voice offering with Sinch’s global messaging capabilities truly positions us for leadership in the rapidly developing market for cloud communications“, comments Ed O’Hara, Inteliquent CEO.


In the twelve months ended December 31, 2020, Inteliquent recorded revenues of USD 533 million, Gross Profit of USD 256 million, EBITDA of USD 135 million, and capex of 32 million. Adjusted for a Covid-related uplift that is considered to be temporary, revenues are estimated to have been around USD 499 million, Gross Profit around USD 233 million, and adjusted EBITDA around USD 112 million. The business employs more than 500 people in the United States and is headquartered in Chicago, Illinois.

Inteliquent consists of two business units that leverage the same underlying network. The Communications-Platform-as-Service (CPaaS) business includes Inteliquent’s enterprise-targeted API-offering that lets businesses acquire phone numbers and embed voice calling into their own products or business processes. The Infrastructure-as-a-Service (IaaS) business includes a range of business-critical services to fixed and mobile telecom carriers, including products for off-net call termination and the handling of calls to toll-free 1-800 numbers.

Inteliquent’s carrier-focused Infrastructure-as-a-Service (IaaS) business accounted for 54 percent of revenues and 48 percent of gross profit in 2020. The enterprise-facing Communications-Platform-as-a-Service business accounted for 46 percent of revenues and 52 percent of gross profit in the same calendar year. Total underlying year-on-year revenue growth over the past two years has been around 11 percent, with CPaaS growing at close to twice this rate.

Upon closing, Sinch expects to reinvest USD 15-20 million of EBITDA to accelerate Sinch and Inteliquent’s joint roadmap in CPaaS voice, strengthen Inteliquent’s enterprise go to market capabilities, and expand Sinch’s voice offering internationally.

One-off integration costs are estimated to reach USD 25 million over 18 months.


The transaction values the acquired business at an EV/EBITDA multiple of 8.4x, or 10.2x when adjusted for Covid-related earnings in 2020 that are considered to be temporary in nature.


Inteliquent is acquired through the legal entity Onvoy Holdings Inc.

The acquisition is financed through a combination of cash and debt facilities. Upon closing, Sinch will pay the seller, GTCR, a cash consideration of USD 1,140 million. Sinch has secured acquisition financing in an amount of SEK 8.2 billion with Handelsbanken and Danske Bank as lenders in addition to its existing facilities with the same banks. With the new financing in place, Sinch will have total available commitments of SEK 9,700 million. In addition to the credit facilities, the company has cash and overdraft facilities in place.

The financial covenants under the acquisition financing agreed with the lending banks will permit the completion of the transaction and the incurrence of the new debt.

Sinch has a financial target to maintain net debt/adjusted EBITDA below 2.5x over time. As of Q3 2020, Sinch had a net cash position with net debt/adjusted EBITDA of -1.2x. The acquisition of SAP Digital Interconnect (SDI) closed on November 1, and on 30 November, Sinch completed a directed new share issue of 3,187,736 shares. Furthermore, the acquisition of Wavy closed on February 1.

On a pro forma basis, Net debt/Adjusted EBITDA would have been -1.3x at the end of Q3 2020 if the acquisitions of SDI and Wavy and the directed new share issue had been completed already at this point. This calculation of pro forma Net debt/Adjusted EBITDA includes Adjusted EBITDA in acquired entities over the past 12 months. Had the acquisition of Inteliquent also been completed at this point, pro forma net debt/adjusted EBITDA would have been 3.7x. However, cash generation and earnings growth is expected to reduce this ratio in the time that follows before the acquisition of Inteliquent is closed.

Regulatory approval

Closing of the transaction is subject to customary closing conditions, including clearance from CFIUS and US competition authorities, the receipt of FCC, state public utility commission, and certain other governmental approvals.


The transaction is expected to close in H2 2021.


Handelsbanken Capital Markets is acting as financial advisor and K&L Gates LLP as legal advisor to Sinch in the transaction. Rothschild & Co serves as lead financial advisor to Inteliquent and Latham & Watkins LLP serves as legal counsel. Truist also serves as financial advisor to Inteliquent.

Conference call and webcast

A conference call for analysts and investors will take place today, Wednesday February 17, at 12.00 CET.

Presentation materials will be published at investors.sinch.com and a live webcast will be available at investors.sinch.com/webcast. To join the call by phone, please dial in a few minutes before the call starts to ensure that you are connected.

Sweden:                    +46 (0) 8 506 92 185
UK:                             +44 (0) 203 00 95 710
US:                             +1 917 720 0178

Access code:             117 44 57
For further information, please contact

Thomas Heath
Chief Strategy Officer and Head of Investor Relations
Sinch AB (publ)
Mobile:        +46-722-45 50 55
E-mail:         thomas.heath@sinch.com

About Sinch

Sinch brings businesses and people closer with tools enabling personal engagement. Its leading cloud communications platform lets businesses reach every mobile phone on the planet, in seconds or less, through mobile messaging, voice and video. Sinch is a trusted software provider to mobile operators, and its platform powers business-critical communications for many of the world’s largest companies. Sinch has been profitable and fast-growing since its foundation in 2008. It is headquartered in Stockholm, Sweden, and has local presence in more than 40 countries. Shares are traded at NASDAQ Stockholm: XSTO:SINCH. Visit us at sinch.com.

About Inteliquent

Inteliquent empowers communications for the leading communication service providers and enterprises. The foundation of Inteliquent’s communications platform is its fully redundant, geo-diverse, carrier-grade tier 1 network. This network is trusted by the nation’s largest service providers, as it provides the most expansive footprint of local phone numbers in the United States with over 12,200 on-net rate centers and 300 billion minutes of traffic on the network annually. Learn more at inteliquent.com.

Important information

This communication may contain certain forward-looking statements. Such statements are all statements that do not relate to historical facts and include expressions such as “believe”, “estimate”, “anticipate”, “expect”, “assume”, “predict”, “intend”, “may”, “presuppose”, “should” or similar. The forward-looking statements in this release are based on various estimates and assumptions that in several cases are based on additional assumptions. Although Sinch believes these assumptions were reasonable when made, such forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that are difficult or impossible to predict and that are beyond Sinch’s control. Such risks, uncertainties and important factors could cause the actual results to differ materially from the results expressly or implicitly indicated in this communication through the forward-looking statements. The information, perceptions and the forward-looking statements in this release apply only as of the date of this release and may change without notice.

This information is information that Sinch AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the contact person set out above, at 07:30 CET on February 17, 2021.