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Global IBO Group Ltd., an Integrated AIGC Animation Platform Provider, Announce Definitive Business Combination Agreement With Bukit Jalil Global Acquisition 1 Ltd.

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NEW YORK, Aug. 9, 2024 /PRNewswire/ — Global IBO Group Ltd. (“GIBO”), a unique and integrated AIGC animation creation and streaming platform for storytellers and content creators, and Bukit Jalil Global Acquisition 1 Ltd. (“Bukit Jalil Global”) (Nasdaq: BUJA), a publicly traded special purpose acquisition company, today announced that they have entered into a definitive business combination agreement (the “Business Combination Agreement”). Upon completion of the business combination of GIBO and Bukit Jalil Global and related transactions pursuant to the Business Combination Agreement (the “Proposed Transaction”), the combined company (the “Combined Company” or “PubCo”) will be renamed “GIBO Holdings Limited” and listed on The Nasdaq Stock Market LLC (“Nasdaq”).

The closing of the transactions is subject to customary closing conditions, including regulatory and shareholder approvals.

Management Comments

Chun Yen “Dereck” Lim, Chairman of GIBO

“We are thrilled to announce a definitive agreement for the Business Combination with Bukit Jalil Global. Leveraging their extensive experience in capital management, we are confident that Bukit Jalil Global will elevate our business, aligning perfectly with our vision to establish GIBO as the preferred platform for content creators and the new generation of users worldwide.”

Jing Tuang “Zelt” Kueh, CEO of GIBO

“This transaction marks a significant milestone in GIBO’s mission. We are optimistic that this combination will provide support to enhance our technology innovation, enrich our content offerings, attract more user subscriptions, and accelerate our strategic growth and broaden expansion in the global market. We are committed to building an ecosystem that provides content creators with the latest AI-driven technologies and provides users with engaging platforms featuring rich and varied content, and in the process help transform the comic and animation industry.”

Dr Seck Chyn “Neil” Foo, CEO of Bukit Jalil Global

“We are very excited to partner with the GIBO team. GIBO’s leadership in the animation streaming sector and proven track record in the Asia market give us great confidence in its future prospects as a Nasdaq-listed company. We look forward to sharing additional details on this exciting transaction in the coming months. We appreciate all of our shareholders and investors that have participated in our IPO. We look forward to a successful future together with GIBO.”

Transaction Overview

Under the terms of the Business Combination Agreement, GIBO Merger Sub 1 Limited, a Cayman Islands exempted company and a wholly-owned subsidiary of PubCo (“Merger Sub I”) will merge with and into GIBO, with GIBO as the surviving entity and a wholly-owned subsidiary of PubCo (the “First Merger”), and (ii) following the First Merger, GIBO Merger Sub 2 Limited, a Cayman Islands exempted company and a wholly-owned subsidiary of PubCo (“Merger Sub II”) will merge with and into Bukit Jalil Global, with Bukit Jalil Global as the surviving entity and a wholly-owned subsidiary of PubCo (the “Second Merger”). Upon the consummation of the Proposed Transaction, each of Bukit Jalil Global and GIBO will become a subsidiary of PubCo, and Bukit Jalil Global’s shareholders and GIBO’s shareholders (except certain shareholders of GIBO (such shareholders, the “Founders”)) will receive Class A ordinary shares of PubCo (“PubCo Class A Ordinary Shares”) and the Founders will receive Class B ordinary shares of PubCo (“PubCo Class B Ordinary Shares”) as consideration. Each PubCo Class A Ordinary Share has one vote per share while each PubCo Class B Ordinary Share has twenty (20) votes per share.

No assurances can be made that the Proposed Transaction will be consummated on the terms or timeframe currently contemplated, or at all. Any transaction would be subject to the approval of the two companies’ boards, regulatory and shareholder approvals as well as other customary conditions.

Additional information about the Proposed Transaction, including a copy of the Business Combination Agreement, will be provided in a Current Report on Form 8-K to be filed by Bukit Jalil Global with the Securities and Exchange Commission (the “SEC”) and will be available at www.sec.gov.

Advisors

DLA Piper UK LLP is serving as legal counsel to GIBO. Robinson & Cole LLP is serving as legal counsel to Bukit Jalil Global.

About Global IBO

Founded in 2019 and powered by its platform GIBO.ai, GIBO is a unique integrated AIGC animation streaming platform aiming to revolutionize content creation and consumption through AI. GIBO offers creators a full range of services from brainstorming to monetization, encompassing voice synthesis and advanced image generation capabilities. With its broad content selection and innovative AI technologies, GIBO has garnered a substantial following among the Asian Generation Z demographic. As of December 31, 2023, GIBO boasts a strong registered user base exceeding 60 million, including 20,000 content creators across Taiwan, Malaysia, Singapore, India, Bangladesh, Indonesia, Thailand, Vietnam, Philippines, and Myanmar. For more information, please visit www.globalibo.com.

About Bukit Jalil Global Acquisition 1 Ltd.

Bukit Jalil Global Acquisition 1 Ltd. is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or similar business combination with one or more businesses or entities.

Important Information About the Proposed Business Combination and Where to Find It

In connection with the Proposed Transaction, the Combined Company intends to file a registration statement on Form F-4 (the “Registration Statement on Form F-4,”), including a preliminary proxy statement/prospectus, and a definitive proxy statement/prospectus with the SEC. Bukit Jalil Global’s shareholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus and the amendments thereto and the definitive proxy statement/prospectus as well as other documents filed with the SEC in connection with the Proposed Transaction, as these materials will contain important information about GIBO, Bukit Jalil Global, and the Proposed Transaction. When available, the definitive proxy statement/prospectus and other relevant materials for the Proposed Transaction will be mailed to shareholders of Bukit Jalil Global as of a record date to be established for voting on the Proposed Transaction. Shareholders of Bukit Jalil Global will also be able to obtain copies of the preliminary proxy statement/prospectus, the definitive proxy statement/prospectus, and other documents filed with the SEC that will be incorporated by reference therein, without charge, once available, at the SEC’s website at www.sec.gov.

Participants in the Solicitation

Bukit Jalil Global and its directors and executive officers may be deemed participants in the solicitation of proxies from Bukit Jalil Global’s shareholders with respect to the Proposed Transaction. A list of the names of those directors and executive officers of Bukit Jalil Global is contained in Bukit Jalil Global’s Annual Report on Form 10-K filed with the SEC on April 2, 2024, which is available free of charge at the SEC’s web site at www.sec.gov. Additional information regarding the interests of such participants will be set forth in the Registration Statement when available.

GIBO, the Combined Company and their directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of Bukit Jalil Global in connection with the Proposed Transaction. A list of the names of such directors and executive officers and information regarding their interests in the Proposed Transaction will be included in the Registration Statement when available.

No Offer or Solicitation

This press release does not constitute, and should not be construed to be, a proxy statement or the solicitation of a proxy, solicitation of any vote or approval, consent or authorization with respect to any securities or in respect of the Proposed Transaction described herein and shall not constitute an offer to sell or a solicitation of an offer to buy any securities nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the federal securities laws. These statements are intended for illustrative purposes only and should not be considered by any investor as a guarantee, assurance, prediction, or definitive statement of fact or probability. Actual results of GIBO and the Combined Company may vary from their expectations, estimates, and projections. Consequently, investors should not rely on these forward-looking statements as predictions of future events. Terms such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “might,” “will,” “could,” “should,” “believe,” “predict,” “possible,” “potential,” “continue,” and similar expressions (including the negative versions of such words) are intended to identify these forward-looking statements. These statements include, without limitation, the expectations of GIBO, Bukit Jalil Global and the Combined Company regarding future performance and the anticipated financial impacts of the business combination transaction.

These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially, and potentially adversely, from those expressed or implied in the statements. Most of these factors are beyond the control of GIBO, Bukit Jalil Global and the Combined Company, and are difficult to predict because they relate to events and depend on circumstances that will occur in the future. Factors that may cause such differences include, but are not limited to: (1) the outcome of any legal proceedings that may be initiated against GIBO and/or the Combined Company following the completion of the business combination transaction; (2) the inability to maintain the listing of the Combined Company’s securities on Nasdaq following the completion of the business combination transaction; (3) the risk that the business combination transaction disrupts current plans and operations; (4) the ability to recognize the anticipated benefits of the business combination transaction, which may be affected by, among other factors, competition, GIBO’s or the Combined Company’s ability to grow and manage growth profitably, and retain its key employees; (5) costs related to the business combination transaction; (6) changes in applicable laws or regulations; and (7) the possibility that GIBO may be adversely affected by other economic, business, and/or competitive factors. This list of factors is not exhaustive. There may be additional risks that neither Bukit Jalil Global nor GIBO presently know or that Bukit Jalil Global  and GIBO currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. Any forward-looking statements made by or on behalf of Bukit Jalil Global, GIBO or the Combined Company speak only as of the date they are made. None of Bukit Jalil Global, GIBO or the Combined Company undertakes any obligation to update any forward-looking statements to reflect any changes in their respective expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.

All subsequent written and oral forward-looking statements concerning GIBO, Bukit Jalil Global or the Combined Company, the transactions described herein, or other matters and attributable to GIBO, Bukit Jalil Global or the Combined Company, or any person acting on their behalf are expressly qualified in their entirety by the cautionary statements above. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date they are made. GIBO, Bukit Jalil Global and the Combined Company expressly disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statements contained herein to reflect any change in their expectations or any change in events, conditions, or circumstances on which any statement is based, except as required by law.

Use of data

The data contained herein is derived from various internal and external sources that GIBO and Bukit Jalil Global believe to be reliable. Although GIBO and Bukit Jalil Global are not aware of any misstatements regarding the external data presented herein, their estimates involve risks and uncertainties and are subject to change based on various factors, including those described under “Forward-Looking Statements” above. Any data on past performance or modeling contained herein is not an indication as to future performance, and each of GIBO and Bukit Jalil Global disclaims any obligation, except as required by law, to update or revise the information in this presentation, whether as a result of new information, future events or otherwise.

Contact Information:

Global IBO Group Ltd. Contact:

William Zima
Managing Director of ICR, LLC
Tel: +1-203-682-8200
Email: william.zima@icrinc.com

Bukit Jalil Global Acquisition 1 Ltd. Contact:

Tina Xiao
President of Ascent Investor Relations LLC
Tel: +1-917-609-0333
Email: tina.xiao@ascent-ir.com

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SOURCE Global IBO Group Ltd.

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Technology

Orion Innovation Names Brian Bronson Chief Executive Officer

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November 15, 2024

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Technology Industry Executive and Leader to Drive Next Phase of Company Growth

EDISON, N.J., Nov. 15, 2024 /PRNewswire/ — Orion Innovation (“Orion”), a leading digital transformation and product development services firm, today announced the appointment of Brian Bronson as Chief Executive Officer, effective immediately. With over 25 years of leadership experience across global technology sectors, Bronson will lead Orion’s next phase of growth and transformation, focusing on expanding the company’s digital capabilities and market presence. Brian succeeds Raj Patil, who will transition to an advisory role with the company and One Equity Partners.

“Brian’s impressive track record of driving profitable growth and leading large-scale organizational transformation makes him the ideal leader for Orion’s next chapter,” said Carlo Padovano, Partner at One Equity Partners and Lead Director of Orion Innovation. “His deep expertise in product engineering, GenAI adoption, and digital transformation perfectly aligns with our vision for Orion’s future.

On behalf of the Orion Board, I’d like to thank Raj for his leadership and dedication in helping develop Orion into a market leader. Raj will transition to an advisory role with the company and One Equity Partners.”

“I’m honored to take on this role and excited about the tremendous opportunities ahead for Orion,” said Bronson. “The company has built an impressive foundation with a blue-chip roster of clients, a global delivery platform, and a talented team with deep domain and engineering expertise. I look forward to working closely with our employees, clients, and partners as we deliver transformative solutions to our clients, drive innovation, and scale our capabilities.”

Before joining Orion, Brian served as EVP of US Telecom, Media, and Entertainment at Capgemini. Additionally, he led the integration and execution of Capgemini’s global engineering services business across the Americas and Asia. This included driving growth in many industries leveraging innovative capabilities tied to 5G, connectivity, and software product engineering. Previously, as President & CEO of Radisys, a leading provider of open telecom solutions, he led the company’s strategic transformation from a hardware company to a provider of cutting-edge software and enabling technologies for the telecom, technology, and medical industries. This transformation culminated in the sale of Radisys to Reliance Industries in 2018, marking a successful exit for the company.

About Orion Innovation

Orion Innovation (“Orion”) is a leading digital transformation and product development services firm. Rooted in engineering and design thinking, along with a unique combination of agility, scale, and maturity, its team of approximately 6,400 associates helps Fortune 1000 companies improve efficiencies, enhance customer experiences, and develop new digital offerings. Through its delivery centers in North America, EMEA, India and Latin America, Orion serves clients across Telecom, Media & Technology, Sports & Entertainment, Professional Services, Financial Services, and Healthcare industries. For more information, visit www.orioninc.com. 

About One Equity Partners

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm seeks to build market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 400 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

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Morrison Securities launches one of Australia’s first plug-and-play global trading to 15 countries with ViewTrade

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November 15, 2024

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SYDNEY, Nov. 15, 2024 /PRNewswire/ — Equities clearing business Morrison Securities (“Morrison”) is launching one of Australia’s first plug-and-play global trading to 15 countries with trading technology provider ViewTrade.

This will mean Morrison’s 38,000+ active clients trading $30 billion annually will only need to go through KYC once and then will be provided unprecedented rapid global trading access.

Morrison will now also offer enhanced global equity and options trading, fixed income, ETFs, seamlessly integrate domestic and global trading, and choice between fully disclosed or omnibus operating models.

ViewTrade has calculated that implementation of solutions like this across all of Australia’s global trading could generate efficiencies of nearly $240 million annually.

A business the size of Morisson launching this solution is a watershed moment for enhancing global opportunities for Australia’s wealth management sector, according to ViewTrade.

Nigel Singh, CEO of ViewTrade International Australia, said: “We are excited to work with Morrison Securities. Together, we are unlocking a world of investment opportunities for Australians. By accessing global markets, firms can offer their clients more diversified portfolios, reducing risk and protecting wealth. This benefits both domestic and international clients. We invite other firms to join us in this partnership and unlock the potential of global market access.”

William Slack, CEO of Morrison Securities, said: “We’ve designed a solution that integrates global market access into our domestic offering for a superior customer experience. With our combined expertise, we’re confident in delivering an efficient, scalable solution tailored to the specific needs of our clients.”

Laksh Gangwani, Chief Revenue Officer – APAC and Middle East at ViewTrade, added: “We are thrilled about the partnership with Morrison Securities as they launch one of Australia’s first plug-and-play global trading solutions to 15 countries. Morrison’s integrated approach to technology, compliance, and operations is enabling investors to complete KYC once, while accessing multiple markets and asset classes with ease. This will ensure Australian investors can build diversified international portfolios with ease.”

ViewTrade (www.viewtrade.com) is a global leader in investment and trading infrastructure solutions that power cross-border investing for financial services firms throughout the world. ViewTrade provides the technology, support, and brokerage services that business innovators need to launch or enhance retail investing experiences. For more than 20 years, ViewTrade has partnered with over 300 clients – from technology startups to large banks, brokers and advisors – to deliver innovative investment solutions and exceptional customer service.

Morrison Securities (https://www.morrisonsecurities.com/) Established in 1985, Morrison Securities is an Australian Broking firm specialising in trading, execution, and clearing services tailored to advisory firms and wholesale clients. They partner with firms to navigate operational challenges and help them realise their full potential. Their comprehensive suite of solutions covers seamless international market access, advanced equities and options trading, capital raising and DVP settlement services, integrated APIs, and stock lending. With a platform-agnostic approach and enterprise-level client service, they prioritise operational excellence and long-term partnerships.

 

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SOURCE ViewTrade

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Australia’s least-favourite chores just got easier with Roborock’s Black Friday & Cyber Monday deals

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November 15, 2024

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SYDNEY, Nov. 15, 2024 /PRNewswire/ — Roborock, the global best-selling robot vacuum brand[i], is thrilled to announce its exclusive deals for Black Friday and Cyber Monday 2024.

Starting from 21 November to 4 December 2024, Roborock is offering significant discounts on a wide range of popular models, with savings of up to $700 – including popular models such as the S8 MaxV Ultra, Qrevo MaxV, Q8 Max+, Qrevo Master, Qrevo S, and Flexi Pro.

In a recent survey conducted across Australia, Roborock found that 27% of Australians would happily skip cleaning their floors forever, with many Aussies also admitting to neglecting high-maintenance tasks such as vacuuming, mopping, and appliance cleaning. With these cleaning challenges in mind, Roborock is offering unbeatable savings on popular models across Black Friday and Cyber Monday, with savings of up to $700.

The deals are available at Robrock Australia’s Official Online Store, Roborock’s Amazon storefront and all authorised retailers.

 Black Friday & Cyber Monday Deals

S8 MaxV Ultra – (SAVE $700) – MSRP $2,999 / Promo: $2,299The S8 MaxV Ultra is the company’s most powerful one-stop cleaning solution, combining the company’s most sophisticated deep cleaning technology with user-friendly features. The model introduces a unique robotic arm and an extra mop that efficiently cleans challenging areas with complete corner cleaning capabilities. Newly launched.Qrevo Master – (SAVE $700) – MSRP $2,699 / Promo: $1,999Newly launched and the most advanced model in the mid-range Qrevo series, the Qrevo Master is built for those who seek top-of-the-line cleaning technology at a mid-range price point. With high-powered suction, deep corner cleaning capabilities, and complete self-maintenance features, it’s designed to tackle the toughest cleaning challenges effortlessly.

Qrevo MaxV – (SAVE $700) – MSRP $2,199 / Promo: $1,499Offers users a complete hands-free floor cleaning experience at the mid-range price point, taking both vacuuming and mopping off your plate while combining powerful cleaning functions, self-maintenance capabilities, and intelligent features such – as pet recognition from flagship models – into one convenient cleaning package.

Qrevo S – (SAVE $400) – MSRP $1,499 / Promo: $1,099Newly launched, the Qrevo S is ideal for those looking for their first robot vacuum that excels at both vacuuming and mopping with self-maintenance features. It blends cleaning performance with a streamlined design for everyday cleaning.

Q8 Max+ – (SAVE $500) – MSRP $1,299 / Promo: $799The Q8 Max+ delivers high-performance cleaning with enhanced navigation and automatic dirt disposal. It’s equipped with powerful suction and a flagship roller brush system making it perfect for homes with mainly hard floors, ensuring a deep and thorough clean.

Flexi Pro – (SAVE $300) – MSRP $999 / Promo: $699 (Available starting 14th November)The Flexi Pro is a versatile handheld vacuum option designed for deep floor cleaning and tight spaces. Capable of handling both wet and dry messes, and the ability to clean itself after every clean-up, the Flexi Pro tackles all types of messes with ease.

According to Roborock’s recent survey, garages are the dirtiest spaces in Australian homes, with 46% of respondents admitting they need more attention. Other problem areas include bathrooms (41%), kitchens (38%), and even kids’ playrooms (32%). Given the demands of busy lives, it’s easy to see why some chores fall through the cracks.

With these exclusive Black Friday and Cyber Monday offers, Roborock makes it easier than ever for Aussies to maintain a clean and comfortable home – without the hassle. Whether it’s tackling neglected garages, high-traffic kitchens, or hard-to-reach corners in the bathroom, Roborock’s innovative products are ready to take on the task.

For more information on Roborock products, please visit https://au.roborock.com  

-ENDS-

Notes to Editors: 

The Roborock survey was conducted by TGM Research and involved 1,028 nationally representative respondents across Australia. The survey aimed to understand the cleaning habits, preferences, and challenges faced by Australians ahead of the launch of Roborock’s Qrevo Master, Qrevo S and H5. 

About Roborock     

Roborock is a leading smart cleaning brand renowned for its intelligent cleaning solutions. With a steadfast dedication to becoming a global leading smart appliance player, Roborock enriches liveswith its innovative line of robotic, cordless, wet/dry vacuum cleaners, and washer-dryers. Rooted in a user-centric approach, our R&D-driven solutions cater to diverse cleaning needs in over 15 million homes across 170+ countries.  Headquartered in Beijing and with strategic subsidiaries in key markets, including the United States, Japan, the Netherlands, Poland, Germany, and South Korea, Roborock is dedicated to elevating its market presence worldwide. For more information, visit https://au.roborock.com/.    

[i] [1] The data comes from Euromonitor International (Shanghai) Co., Ltd. The sales figures of robotic vacuum cleaners worldwide in the first three quarters of 2023 (in RMB hundred million) were used for calculation. Roborock ranks first in the industry. Robotic vacuum cleaner refers to vacuum cleaners that automatically move around rooms using sensors to clean floors. The research was completed in February 2024.

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SOURCE Roborock

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