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Sify Technologies Ltd. Rights Offering Over-Subscribed

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CHENNAI, India, June 28, 2024 /PRNewswire/ — Sify Technologies Ltd. (Nasdaq: Sify) (the “Company”), a leading integrated information communications technology (or ICT) Solutions and Services provider in India, today announced that its recent rights offering was over-subscribed.

The subscription period for the equity share rights expired at 6:00 p.m. (Chennai, India time) on June 21, 2024. The subscription period for the American Depositary Share (“ADS”) rights expired at 2:15 p.m. New York Time on June 21, 2024. Subscription rights that were not exercised prior to the end of the subscription period have expired. Any excess subscription payments received which remain with the Company or Citibank, N.A., acting as ADS Rights Agent, will be returned to the applicable holders.

The Company expects to issue an aggregate of 190,268,698 equity shares and 59,730,265 ADSs (each representing one equity share) pursuant to the exercise of subscription rights during the rights offering, raising gross proceeds of approximately $30 million before any expenses of the rights offering. Following the issuance of the new equity shares and ADSs, the Company will have 433,331,423 equity shares outstanding, including equity shares represented by ADSs (and which includes the 13,262,908 ADSs to be issued as part of the over-subscription right). The net proceeds of the rights offering are expected to be used for expansion of the business for developing Network Centric Services, Data Center services, Digital Services and for general corporate purposes.

The 13,262,908 ADSs to be issued as part of the over-subscription right were allocated on a pro-rata basis among rights holders who exercised their over-subscription rights based on the number of additional equity shares or ADSs each rights holder subscribed for pursuant to its over-subscription right.

Delivery of the new equity shares subscribed for in the rights offering is expected to be made on or about July 5, 2024. Delivery of the new ADSs subscribed for in the rights offering is expected to be made on or about July 9, 2024.

Other Important Information

A prospectus relating to the rights offering was filed with the Securities and Exchange Commission on June 3, 2024 and is available on the website of the SEC at www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the Company and its business. These forward-looking statements are often identified by the use of forward-looking terminology such as “expects”, “intends”, “will”, or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as expected, intended or planned. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company’s reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.

View original content:https://www.prnewswire.com/news-releases/sify-technologies-ltd-rights-offering-over-subscribed-302185995.html

SOURCE Sify Technologies Ltd.

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IAG’s Hangar 51 Accelerator 2024 Takes Off with New Cohort of Startups Focused on Sustainability, Customer Experience, and Operational Efficiency

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VIENNA, Nov. 14, 2024 /PRNewswire/ — International Airlines Group (IAG) announced the launch of its eighth Hangar 51 Accelerator program, welcoming a new cohort of startups poised to revolutionize the aviation industry. Plug and Play, a global innovation platform connecting startups and corporations is proud to support this year’s program as the innovation partner of IAG. 

The selected startups will tackle some of the industry’s biggest challenges across four core areas:

Sustainability: Exploring new technologies that can help decarbonize aviation.

Customer Experience: Enhancing the passenger journey through innovative products and services.

Operational Efficiency: Testing new solutions to improve efficiency and performance.

Airports: Optimizing turnaround management and ground operations.

Over twelve weeks, the startups will work closely with IAG experts to test and refine their solutions in a real-world environment. The culmination of the Hangar 51 Accelerator 2024 will be a Demo Day held on November 27 at IAG’s Headquarters in London. This event will provide a platform for the startups to present their projects to key stakeholders across IAG and its operating companies: Aer Lingus, British Airways, Iberia, LEVEL, Vueling, IAG Loyalty and IAG Cargo. This event will foster networking, knowledge exchange, and collaboration, enabling IAG to showcase the potential of these solutions across the group.

Plug and Play provided support to IAG with key program activities, including global scouting, startup assessment, and event management. Beyond the program itself, Plug and Play has connected IAG to its wider partner ecosystem, offering speaking and participation opportunities at events across Europe. This creates opportunities to connect with other industry leaders to exchange best practices and identify potential synergies.

“We’re truly excited to partner with one of the world’s largest airline groups to drive impactful improvements in airline operations and sustainability. Working with IAG is a unique highlight within our global ecosystem, showing how open innovation across diverse companies/carriers, regions, and approaches can make a real difference for the entire industry. In aviation, collaboration is key, and we’re proud to work together in tackling challenges like CO2 emissions and climate impact. The best startups have made it through our selection process and are now collaborating with various airlines and business units to test their solutions. I’m personally looking forward to Demo Day to see the impact they’ve made,” said Nik Munaretto, Director of Plug and Play Vienna.

Congratulations and welcome to the new Hangar 51 Accelerator 2024 Cohort:

Aeon BlueAiir InnovationsbederFlyOROKeepFlying®Nexus LabNoyaOreyeonParloaTarmac TechnologiesTomorrow.ioZero®ZestIoT

For more information about Plug and Play, please visit https://www.plugandplaytechcenter.com.

About Plug and Play

Plug and Play is the leading innovation platform connecting startups, corporations, venture capital firms, universities, and government agencies. Headquartered in Silicon Valley, we’re present in 60+ locations across 5 continents. We offer corporate innovation programs and help our corporate partners in every stage of their innovation journey, from education to execution. We also organize startup acceleration programs and have built an in-house VC to drive innovation across multiple industries where we’ve invested in hundreds of successful companies including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal, and Rappi. For more information, visit https://www.plugandplaytechcenter.com/

About IAG

International Airlines Group (IAG) is one of the world’s largest airline groups with 585 aircrafts flying to over 250 destinations and carrying more than 115 million passengers in 2023. The Group was created in 2011 and includes the airlines British Airways, Iberia, Aer Lingus, Vueling and LEVEL, and IAG Loyalty and IAG Cargo. It is a Spanish-registered company with its corporate office in London, United Kingdom. Its shares are listed on the London Stock Exchange and on the Spanish stock markets. IAG’s vision is to be the leading airline group in sustainability. The group is proud to have been listed on the Carbon Disclosure Project’s A List for its commitment to sustainability and action on climate change.

Media Relations Contact

press@pnptc.com

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SOURCE Plug and Play

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Frost & Sullivan Launches FrostAI to Help Organisations Identify and Leverage Growth Opportunities

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Accelerating your Transformational Growth Journey: FrostAI’s elevated user experience acts as your company’s Growth Partner

LONDON, Nov. 14, 2024 /PRNewswire/ — Frost & Sullivan proudly announces the launch of FrostAI, designed to transform the way organisations access and utilise industry insights. FrostAI uses advanced natural language processing (NLP) to allow users to interact with its analytics platform in conversational language, moving beyond traditional keyword limitations. By simply asking questions, users receive precise, in-depth responses along with highlighted source references, making complex data exploration more intuitive and user-friendly.

The addition of FrostAI significantly enhances the value of Frost & Sullivan’s analytics platform by making it easier for businesses to uncover actionable insights and capitalise on growth opportunities. With access to comprehensive and continuously updated data spanning from January 2020 to today, users can explore trends, analyse market shifts, and validate potential strategies with exceptional accuracy and depth. FrostAI is built to empower users across all industries and sectors, making it invaluable for companies seeking a strategic edge in an increasingly competitive and transformative landscape.

“This launch marks the next step of our broader initiative to integrate AI-driven technologies into our platform,” said Joe Fristensky, Senior Partner and Chief Analytics Officer at Frost & Sullivan. “FrostAI reflects our commitment to innovation and to supporting our clients as they navigate a world where industries are transforming and evolving at an unparalleled pace. By allowing users to ask questions in natural language, FrostAI not only saves time but also makes complex insights more accessible and actionable,” he added.

FrostAI is designed for a wide range of applications, including identifying emerging growth opportunities and monitoring disruptive technologies across various sectors. As businesses continue to face transformational changes, from technological advancements to shifting consumer behaviours, Frost AI is positioned to become an essential resource for decision-makers looking to stay ahead of the curve.

This launch marks the beginning of a series of strategic developments from Frost & Sullivan, aimed at providing clients with leading-edge growth solutions to make informed growth investment decisions with enhanced efficiency.

Frost & Sullivan is committed to a future where AI and analytics intersect seamlessly, bringing the power of advanced data science into everyday strategic planning.

To schedule a personalised demo of the FrostAI platform, please contact melissa.silvas@frost.com

Frost & Sullivan, the growth pipeline company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation, and leadership. The company’s Growth Pipeline as a Service provides the CEO and the CEO’s Growth Team with transformational strategies and best-practice models to drive the generation, evaluation, and implementation of powerful growth initiatives. Frost & Sullivan leverages over 60 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from more than 40 offices on six continents.

Contact:

Kristina Menzefricke
Marketing & Communications
Global Customer Experience, Frost & Sullivan
kristina.menzefricke@frost.com
+44 (0)20 331 01228

SOURCE Frost & Sullivan

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Former Team USA Chief Joins Enhanced Games, Among Other Senior Hires Ahead Of 2025 Debut

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Enhanced Games expands team with leading experts in Games Delivery, Athlete Relations, Safety, and Digital.New hires bring world-class experience from US Olympic & Paralympic Committee, Nike, Red Bull, and Real Madrid C.F.Future-forward vision reinforces momentum, athlete empowerment, and innovation ahead of the 2025 games.

LONDON, Nov. 14, 2024 /PRNewswire/ — The Enhanced Games announces several recent additions to its growing leadership team, marking a significant step forward as the organisation prepares for its inaugural games at the end of 2025. The key hires bring a wealth of experience from elite sporting organisations, world-renowned athletic programs, and pioneering content platforms. The new leaders collectively bolster the Enhanced Games’ mission to reshape the future of sport.

Dr Aron D’Souza, President of the Enhanced Games, shared his enthusiasm for the new team members, stating, “We’re delighted to welcome Rick, Tim, Dan, and Alejandro to the Enhanced Games. Each brings invaluable expertise, energy, and momentum, setting us up for future success. As we prepare to host the first-ever Enhanced Games, their combined knowledge and deep experience will play a pivotal role in delivering a truly innovative sports experience.”

The new appointments include:

Rick Adams, Senior Vice President, Games Delivery
With a distinguished career in the United States Olympic & Paralympic Committee (USOPC), including serving as Chef de Mission of Team USA at the Beijing and Tokyo Olympic Games, Rick Adams brings expertise in managing top-tier sports events and operations. Formerly Chief of Sport Operations, Chief of Sport Performance and National Governing Body Services, and Chief of Paralympic Sport at the USOPC, Adams also led USA Weightlifting as CEO and served as President and CEO of the East Coast Hockey League. His expansive experience in sports delivery and athlete services will be instrumental in designing and orchestrating the inaugural Enhanced Games.

Tim Phelan, Vice President, Athlete Relations
Tim Phelan joins the Enhanced Games from Nike, where he directed sports marketing initiatives across multiple regions, including North America, Russia, and EMEA. With a strong background in track and field and a Master’s in Human Kinetics and Sports Management, Phelan’s focus on connecting with athletes aligns perfectly with the Enhanced Games’ commitment to athlete empowerment. His global insights and deep industry connections will strengthen relationships with athletes worldwide.

Dr. Dan Turner, Ph.D., Director, Athlete Safety
A seasoned sports performance scientist, Dr Dan Turner has been at the forefront of high-performance science with Red Bull North America, consulting for elite athletes, and working within performance medicine. With a Ph.D. in Clinical Human Physiology, Turner’s work has centred around optimizing athlete safety and performance. His expertise will be pivotal in ensuring that Enhanced Games athletes have access to cutting-edge, science-backed support for optimal well-being.

Alejandro Arenas, Director, Content & Digital Channels
Alejandro Arenas, a leader in digital sports engagement, brings experience from Snapchat as Head of International Sports Partnerships and from Real Madrid C.F. as Global Head of Social Media. Known for his innovative approach to engaging sports audiences, Arenas will lead Enhanced Games’ digital strategy, ensuring a dynamic and accessible experience for fans and athletes alike. His focus on immersive digital content will amplify the Enhanced Games’ vision across global platforms.

Each of these leaders will contribute critical expertise to the Enhanced Games’ mission as we shape the future of competitive sports. Their combined skills across Games Delivery, Athlete Relations, Athlete Safety, and Digital Channels mark a robust expansion of our leadership team and set Enhanced on a dynamic course toward the 2025 games.

About the Enhanced Games:

The Enhanced Games are redefining the future of sports, merging scientific innovation with athletic achievement to create a captivating competition for sports fans, tech enthusiasts, and the science-curious. Founded in 2023 by Australian entrepreneur Aron D’Souza, the Enhanced Games challenge conventional views on human performance, embracing advancements in medicine and technology to safely expand the boundaries of what is possible. With a vision to inspire superhumanity, the Games provide athletes with the opportunity to enhance their abilities under professional supervision, focusing on transparency, safety, innovation, and record-breaking feats.

Backed by pioneering investors like Peter Thiel, Balaji Srinivasan, and Christian Angermayer, the Enhanced Games represent a global movement at the intersection of sport, science, and cultural evolution. Empowered by a diverse team of experts from organizations including FIFA, Nike, Red Bull, and the US Olympic and Paralympic Committee, we are committed to creating a fair, financially equitable platform that inspires humankind to overcome limits and redefine human potential.

For further information, please contact:
Mike Oakes, Communications Director, Enhanced Games
mike.oakes@enhanced.org
Visit: enhanced.com

Photo: https://mma.prnewswire.com/media/2557015/Enhanced_Games.jpg
Logo: https://mma.prnewswire.com/media/2557016/Enhanced_Games_Logo.jpg

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SOURCE Enhanced Games

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