Technology
EveryMatrix announces a recommended public cash offer of SEK 59 per share to the shareholders of Fantasma
Published
4 months agoon
By
THIS PRESS RELEASE IS NOT AN OFFER, WHETHER DIRECTLY OR INDIRECTLY, IN AUSTRALIA, HONG KONG, JAPAN, NEW ZEALAND OR SOUTH AFRICA OR IN ANY JURISDICTION WHERE SUCH OFFER PURSUANT TO LEGISLATION AND REGULATIONS IN SUCH RELEVANT JURISDICTION WOULD BE PROHIBITED. SHAREHOLDERS NOT RESIDENT IN SWEDEN WHO WISH TO ACCEPT THE OFFER (AS DEFINED BELOW) MUST MAKE INQUIRIES CONCERNING APPLICABLE LEGISLATION AND POSSIBLE TAX CONSEQUENCES. SHAREHOLDERS SHOULD REFER TO THE OFFER RESTRICTIONS INCLUDED IN THE SECTION TITLED “IMPORTANT INFORMATION” AT THE END OF THIS PRESS RELEASE AND IN THE OFFER DOCUMENT WHICH WILL BE PUBLISHED BEFORE THE COMMENCEMENT OF THE ACCEPTANCE PERIOD FOR THE OFFER.
EveryMatrix Software Limited (“EveryMatrix”) announces a recommended public offer to acquire all shares in Fantasma Games AB (publ) (“Fantasma”) for SEK 59 in cash per share (the “Offer”). The shares in Fantasma are listed on Nasdaq First North Growth Market (“Nasdaq First North”).
SLIEMA, Malta, Sept. 18, 2024 /PRNewswire/ — Summary of the Offer
EveryMatrix offers SEK 59 in cash for each share in Fantasma.The Offer values all shares in Fantasma at SEK 209.8 million (based on 3,556,535 shares in Fantasma).The Offer represents a premium of:121.40 per cent compared to the closing price of Fantasma’s shares on Nasdaq First North on 17 September 2024 of SEK 48.60;27.69 per cent compared to the volume–weighted average price of Fantasma’s shares on Nasdaq First North during the 30 latest trading days up to and including 17 September 2024 of SEK 46.21; and33.41 per cent compared to the volume–weighted average price of Fantasma’s shares on Nasdaq First North during the 90 latest trading days up to and including 17 September 2024 of SEK 44.22.Fantasma’s independent bid committee, comprising the independent members of Fantasma’s board of directors Antonia Svensson, Johan Styren and Johan Köningslehner, recommends the shareholders of Fantasma to accept the Offer. The recommendation is supported by a fairness opinion provided by Svalner Skatt & Transaktion KB (“Svalner”), according to which the Offer is fair for Fantasma’s shareholders from a financial perspective.Several major shareholders in Fantasma, who in aggregate control 50.79 per cent2 of all shares in Fantasma, including Fredrik Johansson, Karl Lindstedt, Christina Andersson, KL Capital AB, Martin Fagerlund, Oliver Jönsson, Tianzhi Zhou, and Eric Holmberg, have undertaken to accept the Offer, subject to the conditions set out under “Undertakings to accept the Offer” below.Completion of the Offer is conditional upon the Offer being accepted to such extent that EveryMatrix becomes the owner of more than 90 per cent of the shares in Fantasma (on a fully diluted basis) as well as conditions 2–7 set out under “Conditions for completion of the Offer” below.EveryMatrix expects to publish the offer document regarding the Offer today on 18 September 2024. The acceptance period for the Offer is expected to commence on 19 September 2024 and expire on 10 October 2024. EveryMatrix reserves the right to shorten and extend the acceptance period, as may be permissible under applicable laws and regulations.
Background and reasons for the Offer
EveryMatrix is a highly successful world-wide B2B provider of software for the iGaming industry. One of its largest revenue generators is the casino platform product Casino Engine, which is sold stand-alone or as part of a turnkey solution. EveryMatrix’s clients generate millions of euros of casino revenue each day. This has naturally led EveryMatrix to start producing casino games, distributed both to the Casino Engine clients and sold separately as part of the EveryMatrix casino aggregation product SlotMatrix.
EveryMatrix acknowledges that Fantasma is a highly respected games developer with a strong management team and a well-established games distribution. The acquisition of Fantasma will strengthen the EveryMatrix games division and unlock synergies between the companies. In particular, EveryMatrix has established distribution in the fast growing U.S. iGaming-market with a local team, licenses in all states, and direct contracts and integrations with almost all of the major operators.
Size matters when it comes to doing games distribution directly, outside the main games aggregators. More games gives more attention, easier sales, and better possibilities for strong account management. Joining the game portfolios of Fantasma and EveryMatrix thus lifts both companies and achieves the critical mass of games.
For the shareholders of Fantasma, the Offer presents a unique and attractive opportunity to realize the value represented by their shares into immediate and certain liquidity.
The Offer
The Offer consideration and the value of the Offer
EveryMatrix offers SEK 59 in cash for each share in Fantasma.
The Offer values all shares in Fantasma at SEK 209.8 million (based on 3,556,535 shares in Fantasma).
No commission will be charged by EveryMatrix in respect of the settlement of the Offer.
Premium
The Offer represents a premium of:3
21.40 per cent compared to the closing price of Fantasma’s shares on Nasdaq First North on 17 September 2024 (which was the last trading day on Nasdaq First North prior to the announcement of the Offer) of SEK 48.60;27.69 per cent compared to the volume–weighted average price of Fantasma’s shares on Nasdaq First North during the 30 latest trading days up to and including 17 September 2024 of SEK 46.21; and33.41 per cent compared to the volume–weighted average price of Fantasma’s shares on Nasdaq First North during the 90 latest trading days up to and including 17 September 2024 of SEK 44.22.
Potential adjustment of the Offer consideration
If Fantasma distributes dividends or makes any other value transfer prior to the settlement of the Offer, EveryMatrix will reduce the Offer consideration accordingly.
Rights under Fantasma’s incentive programmes
The Offer does not include Fantasma’s warrants of series 2021/2024, 2022/2025A, 2022/2025B, 2023/2026A, or 2023/2026B which are held by senior executives, key personnel and board members under incentive programmes established at the extraordinary general meetings of Fantasma held on 21 October 2021, 30 September 2022 and 6 October 2023, respectively. EveryMatrix will procure that the holders of such warrants will receive reasonable treatment in connection with the Offer.
Recommendation from Fantasma’s independent bid committee
Fantasma’s independent bid committee, comprising the independent members of Fantasma’s board of directors Antonia Svensson, Johan Styren and Johan Köningslehner, recommends the shareholders of Fantasma to accept the Offer. The recommendation is supported by a fairness opinion provided by Svalner, according to which the Offer is fair for Fantasma’s shareholders from a financial perspective.
Eric Holmberg and Martin Fagerlund are board members and Fredrik Johansson is the CEO of Fantasma and have (directly and indirectly through wholly-owned companies) undertaken towards EveryMatrix to accept the Offer, and Simon Blomqvist is a board member of Fantasma and representative of KL Capital AB which has undertaken towards EveryMatrix to accept the Offer (see “Undertakings to accept the Offer” below). Consequently, Eric Holmberg, Martin Fagerlund, Simon Blomqvist and Fredrik Johansson have a conflict of interest pursuant to Rule II.18 of the Takeover rules for certain trading platforms issued by the Stock Market Self-Regulation Committee (the “Takeover Rules”). Eric Holmberg, Martin Fagerlund, Simon Blomqvist and Fredrik Johansson have not participated in the independent bid committee’s resolution to recommend the shareholders of Fantasma to accept the Offer.
Undertakings to accept the Offer
The following shareholders, who in aggregate control 50.79 per cent of all shares in Fantasma, have undertaken to accept the Offer:4
Fredrik Johansson, holding 503,762 shares (497,762 directly and 6,000 indirectly through CF Digital Developments AB), corresponding to 14.16 per cent of all shares in Fantasma;Karl Lindstedt, holding 309,379 shares, corresponding to 8.70 per cent of all shares in Fantasma;Christina Andersson, holding 207,832 shares, corresponding to 5.84 per cent of all shares in Fantasma;KL Capital, holding 207,671 shares, corresponding to 5.84 per cent of all shares in Fantasma;Martin Fagerlund, holding 182,445 shares (20,000 directly and 162,445 indirectly through Dundo AB), corresponding to 5.13 per cent of all shares in Fantasma;Oliver Jönsson, holding 160,000 shares, corresponding to 4.50 per cent of all shares in Fantasma;Tianzhi Zhou, holding 152,669 shares, corresponding to 4.29 per cent of all shares in Fantasma; andEric Holmberg, holding 82,700 shares, corresponding to 2.33 per cent of all shares in Fantasma.
The undertakings to accept the Offer terminate if another party announces a competing offer for all shares in Fantasma at an offer consideration per share exceeding the Offer consideration by at least 20 per cent and EveryMatrix does not within 10 business days from the announcement of such competing offer announce an increase of the Offer consideration so that the new price per share under the Offer matches or exceeds the offer consideration per share under the competing offer. The 20 per cent hurdle and the right for EveryMatrix to match a competing offer apply to each and every competing offer as well as each and every increase of the offer consideration under any competing offer.
Conditions for completion of the Offer
Completion of the Offer is conditional upon:
the Offer being accepted to such extent that EveryMatrix becomes the owner of more than 90 per cent of the shares in Fantasma (on a fully diluted basis);with respect to the Offer and the acquisition of Fantasma, the receipt of all necessary regulatory, governmental or similar clearances, approvals and decisions, in each case on terms that, in EveryMatrix’s opinion, are acceptable;neither the Offer nor the acquisition of Fantasma being rendered wholly or partially impossible or significantly impeded as a result of legislation or other regulation, any decision of a court or a public authority, or any similar circumstance;no circumstances having occurred that have a material adverse effect, or could reasonably be expected to have a material adverse effect, on Fantasma’s financial position, prospects or operations, including Fantasma’s sales, results, liquidity, equity ratio, equity or assets;no information made public by Fantasma, or disclosed by Fantasma to EveryMatrix, being inaccurate, incomplete or misleading, and Fantasma having made public all information that should have been made public by Fantasma;Fantasma not taking any action that is intended to impair the prerequisites for making or completing the Offer; andno other party announcing an offer to acquire shares in Fantasma on terms that are more favourable to the shareholders of Fantasma than the terms of the Offer.
EveryMatrix reserves the right to withdraw the Offer in the event that it is clear that any of the above conditions is not satisfied or cannot be satisfied. However, with regard to the conditions set out in items 2–7 above, the Offer may only be withdrawn where the non-satisfaction of such condition is of material importance to EveryMatrix’s acquisition of Fantasma or if it is approved by the Swedish Securities Council.
EveryMatrix reserves the right to waive, in whole or in part, one or more of the conditions set out above, including, with respect to the condition set out in item 1, to complete the Offer at a lower acceptance level.
Approvals from authorities
According to EveryMatrix assessment, the Offer will not require any regulatory or governmental clearances, approvals or decisions.
Financing of the Offer
Completion of the Offer is not subject to any financing condition. The Offer consideration payable to shareholders of Fantasma that accept the Offer is financed in full by cash on hand.
Review of information in connection with the Offer
EveryMatrix has conducted a limited confirmatory due diligence review of Fantasma in connection with the preparation of the Offer. Fantasma has confirmed that no inside information regarding Fantasma has been disclosed to EveryMatrix during the due diligence review.
Management and employees in Fantasma
EveryMatrix does not intend to implement any material changes to Fantasma’s employees and management team or to the existing organisation and operations, including the terms of employment and the locations where Fantasma conducts its business.
Fantasma’s independent bid committee has approved that EveryMatrix offers certain key personnel of Fantasma, including the CEO, participation in a management incentive plan. The incentive plan, which is subject to and would be implemented upon completion of the Offer, is designed to ensure the continued long-term commitment of the participants in the plan. Participation in the incentive plan involves a possibility to receive a cash payment from Fantasma after a three–year period following completion of the Offer, to be determined based on the performance and a valuation of the combined group at the end of such retention period. Customary leaver-provisions as well as requirements on performance and good standing will apply to the participation in the incentive plan. Some of the key personnel of Fantasma that have been offered participation in the incentive plan are currently shareholders in Fantasma. Neither participation nor the size of the allocation in the incentive plan are related to any such shareholding in Fantasma.
Information on EveryMatrix
EveryMatrix delivers iGaming software, solutions, content and services for casino, sports betting, payments, and affiliate management to global Tier 1 operators as well as to newer brands. The platform is highly modular, scalable, and compliant, allowing operators to choose the optimal EveryMatrix solution and combine with third-party and in-house technology and capabilities.
EveryMatrix empowers clients to unleash bold ideas and deliver outstanding player experiences in regulated markets. EveryMatrix has 1,000 employees across 13 countries and serves 300+ customers worldwide, including the regulated U.S. market. EveryMatrix generated over EUR 81 million in EBITDA during the 12 month period July 2023 to June 2024 and had over EUR 34.1 million in cash and cash equivalents as of 31 July 2024.
EveryMatrix Software Limited, registration number C51832, is a private limited liability company which has its registered office in Malta and headquarters at Piazzetta Business Plaza, Office 12, Level 10, Triq Ghar il-Lembi, Sliema, SLM1605, and is a wholly-owned subsidiary of EveryMatrix Holding plc., in which the CEO of EveryMatrix, Ebbe Groes, is the majority ultimate beneficiary owner.
EveryMatrix has not made any decisions involving any material changes to EveryMatrix’s business, the locations where EveryMatrix conducts its business or EveryMatrix management and employees, including their terms of employment, as a result of the Offer. In the period following the completion of the Offer and following careful review of the needs of the combined business, EveryMatrix will determine the optimal structure of the combined group and may then implement changes to realize efficiency.
More information about EveryMatrix is available at www.EveryMatrix.com.
EveryMatrix’s shareholding in Fantasma
Neither EveryMatrix nor its closely related companies or closely related parties own any shares or other financial instruments that give a financial exposure equivalent to a shareholding in Fantasma at the time of the announcement of the Offer, and they have not acquired or agreed to acquire any such shares or financial instruments during the six months preceding the announcement of the Offer.
To the extent permissible under applicable laws and regulations, EveryMatrix may acquire, or enter into agreements to acquire, shares in Fantasma in other ways than through the Offer. Any such acquisitions will be carried out or agreed and disclosed in accordance with applicable laws and regulations.
Preliminary timetable
Publication of the offer document: 18 September 2024Acceptance period: 19 September–10 October 2024Commencement of settlement: 18 October 2024
EveryMatrix reserves the right to shorten the acceptance period and set an earlier settlement date as well as to extend the acceptance period and to postpone the settlement date, as may be permissible under applicable laws and regulations. Any such change of the acceptance period or settlement date will be announced by EveryMatrix in accordance with applicable laws and regulations.
Compulsory buy-out and delisting of Fantasma
In the event that EveryMatrix, whether in connection with the Offer or otherwise, becomes the owner of more than 90 per cent of the shares in Fantasma, EveryMatrix intends to commence a compulsory buy-out procedure in accordance with the Swedish Companies Act (Sw. aktiebolagslagen (2005:551)) in respect of the remaining shares not owned by EveryMatrix as well as promote a delisting of the shares in Fantasma from Nasdaq First North.
Applicable law and disputes
The Offer and any agreements entered into between EveryMatrix and shareholders of Fantasma in connection with the Offer are governed by and construed in accordance with the laws of Sweden. Any dispute, controversy or claim arising out of or in connection with the Offer shall be finally settled by Swedish courts, and Stockholm District Court shall be the court of first instance.
The Takeover Rules and the Swedish Securities Council’s rulings regarding interpretation and application of the Takeover Rules are applicable to the Offer.
Advisers
EveryMatrix has engaged Gernandt & Danielsson Advokatbyrå as legal advisor in connection with the Offer.
EveryMatrix
This press release was submitted for publication on 18 September 2024 at 08:00 (CEST).
Information about the Offer is available at:
https://everymatrix.com/offer-validation/
For administrative questions regarding the Offer, please contact your bank or nominee where you have your shares registered.
Important information
The Offer is not being made to (and acceptance forms will not be accepted from or on behalf of) persons domiciled in Australia, Hong Kong, Japan, New Zealand, or South Africa, or whose participation in the Offer requires that additional offer documents are prepared or registrations effected or that any other measures are taken in addition to those required under Swedish law (including the Takeover Rules), unless an exemption applies.
This press release and any other documentation related to the Offer (including copies of such documentation) must not be mailed or otherwise distributed, forwarded or sent in or into any jurisdiction (including, without limitation, Australia, Hong Kong, Japan, New Zealand or South Africa) in which the distribution of this press release or the Offer would require any additional measures to be taken or would be in conflict with any laws or regulation in any such jurisdiction. Persons who receive this press release (including, without limitation, banks, brokers, dealers, nominees, trustees and custodians) and are subject to the laws or regulations of any such jurisdiction will need to inform themselves about, and observe, any applicable restrictions and requirements. Any failure to do so may constitute a violation of the securities laws or regulations of any such jurisdiction. To the extent permitted by applicable law, EveryMatrix disclaims any responsibility or liability for any violations of any such restrictions, and EveryMatrix reserves the right to disregard any acceptance forms whose submission constitutes a direct or indirect violation of any of these restrictions.
Forward-looking statements
Statements in this press release relating to any future status or circumstances, including statements regarding future performance, growth and other trend projections and other effects of the Offer, are forward-looking statements. These statements may generally, but not always, be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan”, “seek”, “will”, “would” or similar expressions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that could occur in the future. There can be no assurance that actual results will not differ materially from those expressed or implied by these forward-looking statements due to several factors, many of which are outside EveryMatrix’s control. Any forward-looking statements in this press release speak only as of the date on which the statements are made and EveryMatrix has no obligation (and undertakes no obligation) to update or revise any of them, whether as a result of new information, future events or otherwise, except as required by applicable laws and regulations.
1 Source for the share price: Nasdaq First North.
2 The ownership percentage set out in this item is calculated based on 3,556,535 shares in Fantasma.
3 Source for the share price: Nasdaq First North.
4 The ownership percentages set out in this section are calculated based on 3,556,535 shares in Fantasma.
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2024-2025 Global Top Brands Award Ceremony Launched
Published
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LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — The highly anticipated 2024-2025 Global Top Brands Award Ceremony and International Consumer Electronics Industry Leaders’ Summit were held on January 8, 2025 local time, at the Wynn & Encore Hotel in Las Vegas, USA. This ceremony gathered leading manufacturers, traders, and elites in the global consumer electronics industry to celebrate the triumphs of the world’s top consumer electronics brands.
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Ceremony and Summit Open with a Focus on Pioneering Industry Development
The award ceremony was filled with excitement and star power, bringing together representatives of executives from leading global consumer electronics brands and industry experts, who witnessed the unveiling of multiple top awards. These accolades celebrated the outstanding achievements in the consumer electronics sector over the past year, and pointed the way toward industry trends. Furthermore, participants engaged in in-depth exchanges on cutting-edge issues, exploring new trends, opportunities, and challenges facing the industry. The ceremony was not only a moment of honor but also an important platform for driving the high-quality development of the global consumer electronics industry.
Founded by International Data Group in 2006, the Global Top Brands Awards (GTB for short) is a world-class selection event organized by Asia Digital Group and Europe Digital Group, and supported by TWICE and International Data Corporation(IDC for short), an authoritative market research and analysis firm. The GTB has evolved into a platform where the world’s top consumer electronics brands compete to highlight their innovations, aiming to present the charm of global consumer electronics to audiences worldwide, enhancing the popularity of major consumer electronics enterprises in the international market, and further promoting the development of the global consumer electronics industry. This GTB brought together top consumer electronics brands from around the world to show their latest products and cutting-edge technologies. It serves as a forward-thinking platform for exchanging ideas, offering industry professionals an in-depth look at the most innovative products and emerging trends shaping the future of the global consumer electronics landscape.
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CE Brands from China Top 10
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TCL
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Founded in 1981, TCL operates 46 R&D centers and 38 manufacturing bases across the globe. With a presence in over 160 countries and regions, it serves more than 1.3 billion users worldwide. Over the course of more than 40 years of transformation, innovation, and strategic upgrades, TCL has restructured its business into two main entities, TCL Industries and TCL Technology. It is now focused on three core industries, smart terminals, semiconductor displays, and new energy photovoltaics. Its smart display terminals, LCD displays, and photovoltaic monocrystals and silicon wafers have all achieved global leadership in their respective fields.
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Global CE Brands Top 50
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Global Smart Phone Brands Top 10
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Global TV Brands Top 10
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Global Intelligent Vehicles Brands Top 10
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Global Smart Home Brands Top 10
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ECOVACS ROBOTICS
As a leader in the global service robotics industry, ECOVACS ROBOTICS has been recognized as one of the Global Smart Home Brands Top 10 for 2024-2025. Its robotic lawn mower, GOAT A2500 RTK, received the Robotic Lawn Mower Technology Innovation Award for its exceptional performance and innovative technology. Designed for diverse backyards with various sizes and layouts, the robot is equipped with a 32V energetic platform and two staggered blade-discs, delivering efficient and precise lawn care. Featuring LELS™ positioning technology, the robot enhances its accuracy in positioning and intelligent navigation, autonomously creating high-precision 3D maps. This allows for centimeter-level precision in both navigation and positioning, even in complex layouts or at night. Additionally, the GOAT A2500 RTK is equipped with a LiDAR-enhanced localization system, enabling it to precisely avoid obstacles and ensure smooth operation.
CHiQ
CHiQ’s smart home products provide users with a more convenient, efficient, intelligent, and personalized experience. The brand has earned a place in the Global Smart Home Brands Top 10 for 2024-2025. Since its founding in 2014, CHiQ has consistently innovated in response to consumer needs, earning widespread international recognition. It offers a broad range of products, including smart home appliances such as televisions, refrigerators, air conditioners, and washing machines. Its global footprint continues to expand, covering over 40 countries, including the EU, ASEAN, Australia, Latin America, the Middle East, Africa, and South Korea. It has formed partnerships with numerous international companies, secured key offline distribution channels, and established a presence on more than 30 major e-commerce platforms, including Amazon, Lazada, and Shopee.
International Innovation Award
International innovative brands are showcasing exceptional competitiveness in today’s consumer electronics and technology industry. Brands like YEEDI, Ampace, and TECNO are at the forefront across various sectors, including smartphones, home appliances, and IT office solutions, thanks to their strong R&D capabilities and deep market insights. These brands are driving the robust growth of the industry and meeting the diverse needs of consumers through technological innovation and high-quality services, positioning themselves as industry benchmarks. They will continue to embrace innovation, leading the consumer electronics sector towards a brighter and more promising future.
YEEDI
Amid the wave of smart technology, YEEDI stands out for its exceptional innovation and deep understanding of consumer needs. The YEEDI S14 Plus was awarded the Indoor Cleaning Technology Innovation Gold Award. As a pioneer in smart cleaning solutions, YEEDI remains at the forefront of science and technology, consistently launching groundbreaking products that deliver a more convenient and efficient cleaning experience for households worldwide. In the year of 2024, YEEDI has launched multiple innovative products, including the M12 PRO+ and C12 COMBO. The highly anticipated YEEDI S14 PLUS, set for release in 2025, has already generated considerable attention. It has earned widespread praise from consumers worldwide, with exclusive innovations such as the OZMO Roller Mopping Technology, TruEdge 2.0 Adaptive Edge Mopping Technology, ZeroTangle 2.0 Technology, and AIVI 3D 3.0 Technology.
Ampace
As a globally recognized leader and trusted choice in the field of new energy innovation, Ampace has earned the trust and praise of users worldwide through its exceptional innovation, strong technical expertise, keen market insights, and relentless commitment to quality. With a market share exceeding 30% in the global residential energy storage sector, it has proven its formidable competitive strength and set a benchmark for innovation, reliability, and outstanding performance, honored with the International Innovation Award. The Ampace Andes 1500 Portable Power Station was awarded the Portable Energy Storage Technology Innovation Award. Ampace places technological innovation at the heart of its mission, continually pushing the boundaries and driving industry progress. The Ampace Andes Portable Power Station showcases this trusted energy technology, offering reliable, stable, safe, and high-capacity power support to outdoor adventurers, professionals, and families alike. Looking to the future, we look forward to Ampace continuing its legacy of innovation and making even greater contributions to the sustainable development of society.
Global Emerging Brands
The global emerging brand VOLTME has quickly made a name for itself in the consumer electronics and technology industry, driven by its innovation and competitiveness. Focused on technological innovation and keenly attuned to consumer needs, it has continuously improved its value for money. With exceptional offerings in areas such as smartphones, smart wearables, IT office solutions, and home appliances, VOLTME has gained significant market recognition. The rise of such dynamic brands is revitalizing the industry, guiding the consumer electronics sector towards greater heights and a promising future.
VOLTME
VOLTME, the flagship brand of Voltnex Innovations and a global leader in power solutions, has been awarded the Global Emerging Brands. Its latest offering, the VOLTME Revo 240 PD3.1 GaN Charger is the perfect solution for fast and safe charging of laptops, tablets, and smartphones. The Hako Series portable power stations combine high-capacity battery performance with intelligent power management, meeting a wide range of power needs. These stations provide reliable portable power support for consumers, underscoring VOLTME’s excellence in innovation, design, and technology.
Representatives of award-winning brands took the stage to deliver their acceptance speeches, and share insights into their success and future growth strategies. They expressed a commitment to further enhancing technological innovation and market expansion so as to deliver even more high-quality products and services to global consumers.
International Consumer Electronics Industry Leaders’ Summit Explores AI’s Role in Shaping Industry’s Future
The International Consumer Electronics Industry Leaders’ Summit was held concurrently. Industry experts and company representatives from around the world gathered to engage in in-depth discussions on the theme of “AI Reshaping Industrial Development”. Key topics included how the consumer electronics industry can integrate with smart technologies, how companies can build core competencies, and ways to strengthen competitive advantages. Participants shared the latest advancements and technological trends, offering valuable guidance for the development of the global consumer electronics sector.
Ines Haaga, Director of Global Strategic Insights at GfK, delivered a keynote speech titled “Navigating Tech and Durables Markets: How Consumer Preferences and Innovation Shape Tomorrow’s Success”. She emphasized that the consumer electronics industry is undergoing a transformation driven by consumers, with the modest growth of the fast-moving consumer goods market and the fragmentation of the tech and durable goods markets highlighting the critical role of consumer preferences. Besides, innovation has emerged as the new engine for market growth, with the integration of AI technologies fueling significant momentum. Looking ahead, the deep convergence of consumer preferences and innovation will shape a broader and more prosperous future for the tech and durable goods sectors.
In the following International Consumer Electronics Industry Leaders’ Summit, Zhang Li, Co-President of Asia Digital Group, moderated a panel discussion on “AI Reshaping Industrial Development”. Together with domestic and international guests, she led an in-depth discussion on the impact of AI on the consumer electronics industry, drawing on insights from their respective fields.
Wang Tan, Co-founder and Vice President of XPENG AEROHT, and General Manager of XPENG Motors’ Design Center, shared XPENG’s innovative applications of AI, particularly the launch of cutting-edge products such as the Land Aircraft Carrier (LAC). These products showcase the vast potential of AI in driving transformation within the automotive industry. He emphasized that AI will play a crucial role in enabling a more intelligent and personalized future for the automotive sector.
Calvin Chen, CTO and President of Segway Navimow at Segway-Ninebot, elaborated on the profound impact of AI on the consumer electronics industry from a technological R&D perspective. He noted that the application of AI elevates the intelligence of products and drives comprehensive upgrades in areas such as R&D, design, and manufacturing, injecting powerful momentum into the innovative development of the industry.
Grant Morgan, Senior Editor at TWICE, shared his analysis of the consumer electronics industry. He pointed out that while consumers’ acceptance of AI has not yet reached full saturation, AI has already demonstrated its powerful enabling potential across various sectors. Guiding consumers to recognize the value and potential of AI through innovative technologies and products will be crucial in driving the industry’s growth.
Jan Lorbach, Senior Director of Strategic Insights at GfK, provided unique perspectives on the consumer electronics industry, focusing on global market trends and consumer research. He noted that, in light of consumers’ shrinking budgets for electronic products and their increasing demand for value, companies need to become more agile in identifying market pain points. By harnessing AI technology, they can fuel product innovation and functional upgrades to meet the diverse needs of consumers. He emphasized that AI will not only profoundly reshape the form and functionality of consumer electronics but also steer the entire industry toward higher quality and greater efficiency.
The summit also provided attendees with a unique opportunity to engage in direct exchange with executives from the world’s leading brands. This allowed participants to gain valuable insights into the success stories and strategic thinking of these top international brands, while promoting mutual learning and resource sharing among companies.
Setting New Trends in Industry Development, Ushering in a New Era for Consumer Electronics
Beyond being a magnificent award ceremony and leaders’ exchange, the 2024-2025 Global Top Brands Award Ceremony and International Consumer Electronics Industry Leaders’ Summit play a vital role in setting new directions for the global consumer electronics industry. It not only highlights the latest achievements and emerging trends but also injects vitality into the industry’s future growth and provides clear direction for its development.
We are delighted to witness an increasing number of consumer electronics brands placing a stronger emphasis on technological innovation and brand development, continually introducing new products to meet the growing demand for personalized experiences. Today, the consumer electronics industry is driving global economic growth and transformation at an unprecedented pace. Brands with innovative vision and exceptional capabilities are poised to emerge as leaders, guiding the industry toward an even more brilliant future. As it celebrates its 20th anniversary in 2026, the GTB, as a flagship event for the consumer electronics sector, will remain a key force in guiding and accelerating the industry’s progress, fostering collaboration and exchange in scientific and technological innovation, and accelerating the transformation of these advancements into tangible productivity.
View original content:https://www.prnewswire.com/news-releases/2024-2025-global-top-brands-award-ceremony-launched-302348572.html
SOURCE Asia Digital Group
Technology
Digital Transformation Market in Oil & Gas to Grow by USD 56.4 Billion from 2025-2029, Driven by Investments, Partnerships, and AI-Powered Market Evolution – Technavio
Published
3 hours agoon
January 11, 2025By
NEW YORK, Jan. 11, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global digital transformation market in oil and gas industry size is estimated to grow by USD 56.4 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of 14.5% during the forecast period. Rise in investments and partnerships is driving market growth, with a trend towards use of digital twin technology. However, lack of skilled labor poses a challenge. Key market players include Accenture PLC, Amazon.com Inc., AVEVA Group Plc, Emerson Electric Co., General Electric Co., Halliburton Co., Informatica Inc., Intel Corp., International Business Machines Corp., Microsoft Corp, NVIDIA Corp., Oracle Corp, Rockwell Automation Inc., SAP SE, Siemens AG, Sierra Wireless Inc., Tata Consultancy Services Ltd., Teradata Corp., and TIBCO Software Inc..
Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF
Digital Transformation Market In Oil And Gas Industry Scope
Report Coverage
Details
Base year
2024
Historic period
2019 – 2023
Forecast period
2025-2029
Growth momentum & CAGR
Accelerate at a CAGR of 14.5%
Market growth 2025-2029
USD 56.4 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
12.7
Regional analysis
APAC, North America, Middle East and Africa, Europe, and South America
Performing market contribution
APAC at 31%
Key countries
US, China, Saudi Arabia, Russia, India, Japan, Canada, UK, Germany, and UAE
Key companies profiled
Accenture PLC, Amazon.com Inc., AVEVA Group Plc, Emerson Electric Co., General Electric Co., Halliburton Co., Informatica Inc., Intel Corp., International Business Machines Corp., Microsoft Corp, NVIDIA Corp., Oracle Corp, Rockwell Automation Inc., SAP SE, Siemens AG, Sierra Wireless Inc., Tata Consultancy Services Ltd., Teradata Corp., and TIBCO Software Inc.
In the Oil and Gas industry, Digital Transformation is a game-changer. Upstream, Midstream, and Downstream sectors are embracing trends like Big Data, Cloud Computing, IoT, AI, and Digital Twins to monitor critical assets and facilities. Big Data helps analyze Exploration prospects using Geoscience platforms. Cloud Computing and AI-based simulation optimize Refining processes, improving manufacturing efficiency and asset utilization. IoT sensors monitor equipment in real-time, enabling Predictive Maintenance and reducing downtime. AI and Computer Vision detect anomalies, preventing Fires and enhancing Safety. Extended Reality solutions train workers, improving Risk management and enhancing Safety. Crude oil demand and Refinery throughput are optimized using AI-based tools. Midstream and Downstream operations, including Gas Stations and Petrochemicals, benefit from Automation solutions and Turnaround planning tools. Application Performance Management ensures smooth Digitalization, while Prescriptive Maintenance minimizes downtime. Sensor systems and AI-driven solutions automate Industrial Control Systems, enhancing Automation and Optimization across Energy industries. Preventive Maintenance and Predictive analytics minimize downtime, ensuring high-performing Refineries and Petrochemical plants.
The oil and gas industry is embracing digital transformation by integrating technologies like the digital twin to optimize energy production. A digital twin is a virtual representation of physical assets, allowing companies to compare actual and ideal conditions for enhanced safety and innovation. This technology provides disparate views of sub-surface and surface systems, enabling more efficient and cost-effective oil and gas production. By adopting digital twin technology, oil and gas companies can improve operational efficiency and foster continuous learning and innovation.
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• In the Oil and Gas Industry, Digital Transformation brings new opportunities for Upstream, Midstream, and Downstream sectors. Challenges like Big Data, Cloud Computing, IoT, AI, and Industrial Control Systems require modern solutions. Extended Reality (XR) solutions help monitor critical assets and facilities, enhancing safety and risk management. Field devices and exploration prospects benefit from Data Science and Geoscience platforms. Downstream operations, including Petrochemicals, Refining, and Gas Stations, can optimize asset utilization and manufacturing efficiency with Automation, AI-based simulation, and Prescriptive Maintenance. Preventive maintenance is crucial for equipment, reducing fires and improving turnaround planning. Computer Vision and Sensor Systems ensure refinery process efficiency and predictive analytics help manage crude oil demand, High Speed Diesel, and Refinery throughput. Digitalization drives innovation, improving safety, risk management, and operational excellence in Energy Industries.
• Oil and gas producers are adopting advanced technologies, such as Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT) solutions, and big data analytics, to enhance their investment returns. Big data is gaining popularity due to the growing awareness of data-driven solutions. However, converting vast datasets into valuable insights necessitates both technology and analytics expertise. Identifying relevant data for storage and processing is a significant challenge for professionals. Analyzing unstructured data requires additional effort. Real-time big data analytics and cloud-based software solutions offer oil and gas companies innovative opportunities to optimize oil production processes, minimize costs and risks, ensure regulatory compliance, enhance safety, and make informed decisions.
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This digital transformation market in oil and gas industry report extensively covers market segmentation by
Technology 1.1 IoT1.2 E and P software1.3 Big data1.4 Cloud computing1.5 OthersSector 2.1 Downstream2.2 Upstream2.3 MidstreamGeography 3.1 APAC3.2 North America3.3 Middle East and Africa3.4 Europe3.5 South America
1.1 IoT- The oil and gas industry faces economic pressure due to disparities in demand and supply, as well as volatile global energy prices. To address these challenges, companies are focusing on enhancing and extending the value of their existing assets while seeking new reserves. The implementation of Internet of Things (IoT) technology is a key strategy for transformation. In the upstream segment, IoT reduces non-productive time by enabling predictive maintenance for crucial equipment. In the midstream segment, IoT monitors pipelines for leaks and emissions, enhancing safety and reducing penalties. In the downstream segment, real-time data analysis enables distributors to predict consumer consumption, optimizing distribution. IoT is projected to increase crude output by 10-12% and profits by USD1 billion for large companies, while contributing USD816 billion to global GDP. By deploying IoT across the value chain, oil and gas organizations can make better decisions, create a safer working environment, and enhance operations.
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The Oil and Gas industry is undergoing a digital transformation, leveraging technologies such as Big Data, Cloud Computing, Internet of Things (IoT), Artificial Intelligence (AI), and Industrial Control Systems to optimize operations and enhance productivity. Upstream, midstream, and downstream sectors are adopting digital twins to monitor critical assets and improve exploration prospects through geoscience platforms. Extended reality solutions enable remote collaboration and training in hazardous environments. Field devices are being connected to collect real-time data for predictive maintenance and preventive measures against fires. Computer Vision is used to monitor equipment performance and automation is being driven by AI-based simulation. Digitalization is revolutionizing energy industries, from gas stations to petrochemicals, by providing real-time insights and improving operational efficiency.
The Oil and Gas Industry is undergoing a digital transformation, leveraging technologies such as Big Data, Cloud Computing, Internet of Things (IoT), Artificial Intelligence (AI), Industrial Control Systems, Extended Reality (XR), and Field Devices to optimize operations and enhance productivity. Upstream, Midstream, and Downstream sectors are embracing digitalization, with a focus on monitoring critical assets, workers, and facilities in real-time. XR solutions provide training for workers, while data science and geoscience platforms help explore new prospects and enhance exploration and production. In the Midstream and Downstream sectors, digitalization leads to improved asset utilization, manufacturing efficiency, and automation. AI-based simulation and predictive analytics optimize refining processes, while sensor systems and prescriptive maintenance minimize risks and ensure safety. Crude oil demand, High Speed Diesel, refinery throughput, and petrochemical and refining industries also benefit from digital transformation, with turnaround planning tools, application performance management, and AI-based solutions streamlining operations.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
TechnologyIoTE And P SoftwareBig DataCloud ComputingOthersSectorDownstreamUpstreamMidstreamGeographyAPACNorth AmericaMiddle East And AfricaEuropeSouth America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
Technology
TESSAN Showcased New Charging Products at CES 2025, Enhancing Its Role in Modern Life and Travel
Published
8 hours agoon
January 11, 2025By
LAS VEGAS, Jan. 11, 2025 /PRNewswire/ — At CES 2025, TESSAN showcased its relentless pursuit of technological innovation and enhanced user experience, engaging with a diverse audience to reinforce its commitment to being a dependable companion in users’ lives and travels. The event was a vibrant platform for interaction, where TESSAN not only presented its latest advancements but also connected with media, social influencers, and attendees through various engaging activities.
The exhibition garnered substantial media attention, with TESSAN being interviewed by various outlets. In acknowledgment of its innovative contributions, TESSAN received an award from SlashGear, a leading technology media platform known for its in-depth reviews and news on tech, cars, gaming, and science since 2005. The event’s excitement was further amplified by social media influencers, who explored the exhibition and shared their experiences with their followers, significantly enhancing the reach and impact of TESSAN’s innovations.
A highlight of the event was the interactive “What’s Your Next Journey?” activity, which invited attendees to participate for a chance to win an exclusive poster of the American singer-songwriter Rachael Yamagata, who recently partnered with TESSAN to inspire travelers.
Central to the exhibition were TESSAN’s latest products that underscored the brand’s commitment to innovation and user-centric design. The Travel Adapters, with its lightweight, compact, and multifunctional design, was a standout. Designed for global use, it caters to frequent travelers, ensuring seamless connectivity across different countries. The 140W Universal Travel Adapter, in particular, captured significant attention as an essential tool for global connectivity.
The Charging Station was another focal point, offering multi-device charging capabilities, rapid charging technology, and safety features. Suitable for both home and office environments, it meets the needs of users with multiple devices. The 100W Charging Station, a 9-in-1 powerhouse, exemplifies this by charging multiple gadgets simultaneously at lightning speed, appealing to busy individuals and tech enthusiasts alike.
Additionally, the Smart EV Charger demonstrated TESSAN’s commitment to sustainable and efficient solutions. Compatible with various electric vehicle models, it provides a convenient and eco-friendly charging option for EV users.
TESSAN’s diverse product range embodies the brand’s vision and core values, aiming to be a reliable companion in both daily life and travel. By prioritizing simplicity and convenience, TESSAN designs products that eliminate complexity and meet modern efficiency needs. Innovation is key, with advanced technologies like GaN (Gallium Nitride) enhancing performance and compatibility. Sustainability is also central to TESSAN’s mission, as demonstrated by eco-friendly practices and partnerships with ClimatePartner and One Tree Planted. Notably, TESSAN has launched an initiative to plant 10,000 trees across the U.S. and beyond, reinforcing its commitment to environmental sustainability and climate action.
Beyond product innovation, TESSAN enhances its impact through strategic collaborations. A notable partnership with globe-acclaimed photographer and adventurer Mattias Klum underscores the brand’s reliability. Additionally, TESSAN has teamed up with Rachael Yamagata to launch a global initiative aimed at uncovering travelers’ stories and inspiring exploration of the unknown.
As TESSAN continues to innovate and expand its product offerings, it remains dedicated to meeting the evolving needs of users worldwide. The brand invites everyone to join in its journey of exploration and discovery, promising more high-quality products that enhance connectivity and enrich lives.
About TESSAN
TESSAN, a trusted partner in charging solutions, is committed to enriching experiences both at home and during travel. The brand offers a wide array of products, including multifunctional power strips, travel adapters, wall extenders, and smart home devices. Supported by a robust R&D and production team, TESSAN develops innovative socket products for users across the globe. With the trust of over 20 million users, TESSAN empowers their journeys from home to every destination, promoting environmentally conscious electricity usage.
For more information, visit www.tessan.com or the TESSAN Amazon store, and follow TESSAN on Facebook, Instagram, and YouTube.
CONTACT: Derien Lin, derien@tessan.com
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SOURCE TESSAN
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