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Sandvik exits non-strategic businesses

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STOCKHOLM, Sept. 27, 2024 /PRNewswire/ — At the Capital Markets Day 2023, Sandvik communicated the intention to increase the focus on software solutions and enabling hardware in the Sandvik Manufacturing Solutions offering. Furthermore, Sandvik communicated a revised additive manufacturing strategy to focus mainly on metal powders. As a consequence of these changes in strategic direction, the engineer-to-order business of DWFritz Automation (DWFritz) has been divested and the decision to seek an exit of the minority stake in BEAMIT has been made during the quarter. Charges totaling approximately SEK 390 million will be accounted for in the third quarter and reported as items affecting comparability. Out of the total charges, approximately SEK 250 million relates to a capital loss, including transactional costs, from the divestment of DWFritz, and about SEK 140 million relates to a write-down of the stake in BEAMIT.

Sandvik has divested the engineer-to-order business of DWFritz to the U.S.-based private equity firm Balmoral Funds. Sandvik acquired DWFritz in 2021, with the intention to grow the ZeroTouch® business of DWFritz. The ZeroTouch® platform is a unique inspection gauging equipment enabling near-line and in-line metrology and is an important part of the closed loop strategy. Since the acquisition, Sandvik has developed and started to commercialize ZeroTouch®, which will not be part of the divestment but remain a part of Sandvik.

Additionally, Sandvik has decided to seek an exit of its minority stake (approx. 30%) in the Italian additive manufacturing service provider BEAMIT. The decision to seek an exit is in line with Sandvik’s revised additive manufacturing strategy to focus mainly on metal powders.

DWFritz and the BEAMIT holding have both been reported within business area Sandvik Manufacturing and Machining Solutions.

For further information, contact Louise Tjeder, VP Investor relations, phone: +46 (0) 70782 6374 or Johannes Hellström, Press and Media Relations Manager, phone: +46 (0) 70721 1008

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/sandvik/r/sandvik-exits-non-strategic-businesses,c4044116

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Sandvik exits non-strategic businesses

 

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SOURCE Sandvik

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Quidax Launches $125,000 Crypto Innovation Pitch, Partners with Moonshot for TC Battlefield

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LAGOS, Nigeria, Sept. 27, 2024 /PRNewswire/ — Quidax and TechCabal have announced a partnership for this year’s TechCabal Battlefield competition. As part of this year’s competition Quidax has introduced a Crypto Innovation Pitch for the most promising African crypto startup. This pitch is for Africa-focused seed to early-growth stage crypto and blockchain startups that are creating impactful solutions for African markets.

In conjunction with Asset Chain, Quidax will award the selected startups $15,000 in funding. In addition to the funding, Quidax is collaborating with Huawei, Fincra, and Asset Chain to offer $110,000 worth of startup support credits. The support will be in the form of $80,000 worth of cloud services credit from Huawei, $20,000 worth of payment processing credit from Fincra, and $10,000 in crypto tokens from Asset Chain.

The top 5 crypto startups chosen from applications will get a chance to pitch at Tech Cabal’s Moonshot event between 9th – 10th, October, 2024 at the Eko Convention Centre, Lagos, Nigeria. The winning startup will be announced and awarded on the TC Battlefield stage at the Moonshot event.

Interested crypto startups can apply here for the Crypto Innovation Pitch.

TechCabal’s Battlefield, first held in 2014 and is now in its 10th year. It involves a rigorous selection process which will culminate in a high-stakes pitch at the Moonshot conference.

About Quidax

Quidax is an African-founded cryptocurrency exchange that makes it easy for anyone to buy, sell, store and transfer cryptocurrencies.Quidax additionally enables OTC trading and offers a Crypto API. The Crypto API enables businesses to build and offer crypto products.

About Moonshot

Moonshot by TechCabal is TechCabal’s flagship event that brings together industry leaders and key players in the African tech ecosystem. The event is an opportunity for tech enthusiasts to network, collaborate, and share ideas that define the ecosystem.

Contact:
***@quidax.com

Photo(s):
https://www.prlog.org/13040687

Press release distributed by PRLog

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SOURCE Quidax

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“The Reckoning of Third-Party Risk Management” presented by Lori Frank, President and CEO, at UMACHA’s Navigating Payments Conference

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Navigating Payments 2024 – Celebrating UMACHA’s past 50 years – Looking Back. Moving Forward.

MINNEAPOLIS, Sept. 27, 2024 /PRNewswire-PRWeb/ — Lori Frank, President & CEO of Argos Risk, joined the stage and presented her compelling insights on “The Reckoning of Third-Party Risk Management” at UMACHA’s Navigating Payments 2024 Conference in Brooklyn Center, Minnesota.

“It’s a privilege to contribute to this important conversation at such a milestone event,” said Frank. “Looking back at what we’ve learned, we can move forward with stronger, more resilient practices.”

 

Celebrating UMACHA’s 50-year legacy, this highly anticipated event drew key stakeholders across the payments industry. “Looking Back. Moving Forward.” was this year’s theme, which emphasized the historical progress and pivotal shifts in the landscape of payments while paving the way for innovation and forward-thinking strategies.

One pivotal shift is the complexity of third-party relationships and the need for comprehensive risk management. Lori Frank’s session, “The Reckoning of Third-Party Risk Management,” highlighted the rising significance of robust risk management strategies for organizations as they depend on external partners to support and optimize their operations.

Drawing from her extensive banking and risk management background, Frank’s session also emphasized the lessons learned from past challenges and the evolution of Third-Party Risk Management. She offered actionable strategies to assess, manage, and reduce vulnerabilities to safeguard against future third-party partnership risks.

“It’s a privilege to contribute to this important conversation at such a milestone event,” said Frank. “Third-Party Risk Management is more important than ever, and organizations must adapt to new risks and challenges that come with outsourcing and vendor relationships. Looking back at what we’ve learned, we can move forward with stronger, more resilient practices.”

UMACHA’s Navigating Payments Conference is a cornerstone event for professionals in the payments industry, offering thought leadership on pressing issues and providing invaluable insights into emerging trends and best practices. Frank’s presentation delivered valuable insights for attendees committed to enhancing their risk management capabilities while advancing industry standards.

About Argos Risk
Argos Risk is a leading provider of third-party risk intelligence solutions, helping organizations mitigate the risks associated with third-party relationships. The company offers innovative, easy-to-use solutions designed to assess and monitor the financial health, operational stability, and compliance standing of third-party vendors, partners, and customers. With a commitment to empowering businesses with actionable risk intelligence, Argos Risk continues to lead the way in Third-Party Risk Management.

Media Contact

Public Relations, Argos Risk, LLC, +1 (952) 446-7582, marketing@argosrisk.com, https://www.argosrisk.com/

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SOURCE Argos Risk, LLC

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Raintree Systems Accelerates Innovation and Growth with Strategic Appointment to Board of Directors

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30-Year Tech and Healthcare Veteran, Bill Lucchini, to Advise on Driving Customer Value Through Automation and Efficiency

CHANDLER, Ariz., Sept. 27, 2024 /PRNewswire/ — Raintree Systems, inc., a leading rehabilitation therapy software provider backed by Serent Capital, announced today the appointment of Bill Lucchini to its Board of Directors.

This strategic addition comes at a pivotal time as Raintree continues its rapid growth and solidifies its position as a leader in technology solutions for physical therapy, occupational therapy, speech-language pathology, and multidisciplinary therapy practices.

Lucchini brings an outstanding track record in scaling healthcare technology solutions. As CEO of Nextech Systems, a prominent healthcare technology solution for specialty providers, Lucchini focused on customer-centric innovation that led to the company being the preeminent EHR and payments solutions in its specialties. Lucchini’s emphasis on creating meaningful workflow and efficiency benefits for its customers included AI-empowered patient journey innovations. He has also served as CEO of Dealer-FX Group, Inc., SVP and GM of Sophos Cloud, COO at OnForce, and held an impressive 16-year tenure at Intuit. His experience and expertise will help advise and accelerate Raintree’s product roadmap.

“We are thrilled to attract a leader of Bill’s caliber to our Board,” said Nick Hedges, CEO of Raintree Systems. “He is renowned for transforming Nextech through product innovation, including AI, that reset the bar for customer value. I am excited for the Board and I to have Bill as a close advisor as we chart a similar path at Raintree to redefine innovation in the rehab therapy EHR space.”

“I’m excited to work with Nick, the board, and the executive team to further Raintree’s mission to help therapy professionals provide better care and achieve superior outcomes for their patients,” said Lucchini. “Therapy professionals are making a difference for patients every day, and as an industry leader Raintree drives innovation that helps them focus on patient care while enabling them to grow and thrive. I look forward to working with all the great people at Raintree to leverage AI and other new technologies to do even more for our customers.”

About Raintree Systems 
Raintree is the preeminent platform for enterprise and mid-sized therapy provider organizations. With a proven track record of success and client satisfaction, Raintree provides solutions in patient engagement and communications, clinical documentation, revenue cycle management (RCM), and business intelligence/analytics for adult and pediatric physical therapy, occupational therapy, speech therapy, and multidisciplinary practices across all treatment settings. Raintree clients make up over 2,500 implementations nationwide and more than 25,000 users daily. Raintree leads the industry in compliance and security, offering the first ONC-certified EHR designed specifically for rehabilitation therapy. To learn more about Raintree, visit https://www.raintreeinc.com/

Contact: 
Sorella Andersen
sorella.andersen@raintreeinc.com 

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SOURCE Raintree Systems

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