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EQT Broadens Reworld™ Investor Base, Welcoming GIC as Strategic Investor

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GIC to acquire a 25% minority interest in Reworld Waste, LLCBroadened investor base adds new resources, expertise, and capital that will help accelerate the Company’s journey as one of North America’s leading sustainable waste solutions companies.

NEW YORK, Oct. 2, 2024 /PRNewswire/ — EQT and GIC are pleased to announce that the EQT Infrastructure V fund (“EQT Infrastructure”) has signed an agreement to sell a 25% minority stake in Reworld™ (“the Company”) to GIC via a combination of primary and secondary capital. EQT Infrastructure took the Company private in November 2021 and will remain the largest shareholder following the closing of the transaction.

Reworld™ has rapidly scaled into a leader in sustainable waste solutions, providing innovative and environmentally responsible services to businesses and communities throughout North America. Since 2021, Reworld™ has nearly doubled its number of operational facilities and increased headcount by 800, significantly expanding its reach across new and existing core geographies. Today, Reworld™ reduces, recycles and recovers more than 20 million tons of waste across over 100 facilities for more than 4,600 customers.

The stake sale marks a strategic milestone in the Company’s journey. As a strategic partner, GIC’s significant financial capital and scale will play an essential role in accelerating the Company’s growth plans, and meeting the growing demand for sustainable waste solutions from it’s municipal, residential, commercial and industrial customers in North America.

JD Vargas, Partner within EQT Infrastructure’s Advisory Team, said: “This transaction will further enable Reworld™ to accelerate its growth journey, as it addresses the increasing demand for zero-waste-to-landfill solutions and circular economy goals. As U.S. waste generation grows and more complex solutions are required, especially as landfill capacity declines in the core regions where Reworld™ operates, EQT remains committed to supporting the Company in developing and deploying the sustainable waste management solutions necessary for a thriving circular economy.”

Ang Eng Seng, Chief Investment Officer, Infrastructure at GIC, said: “As a long-term investor, the expansion of our partnership with Reworld™ reflects the significant potential for more sustainable alternatives to waste disposal, an essential service for all communities. GIC is committed to supporting the transition to net-zero in the real economy, and this funding will support the ambitious growth plans Reworld™ has as they seek to deliver a lower-emission alternative to landfills.”

Manning Doherty, Head of Infrastructure, Americas at GIC, remarked: “As an existing co-investor in Reworld™, GIC has been proud to partner with EQT to support the Company’s transformation over the past three years. Today, Reworld™ is positioned for significant growth and this capital will help the business meet a growing demand for zero-waste-to-landfill solutions. We look forward to driving significant value through our continued partnership with the Company’s expert management team, and our long-standing partner EQT.”

Azeez Mohammed, President and CEO of Reworld™, commented: “This partnership propels Reworld™ forward by significantly enhancing our ability to serve our customers and communities as their needs evolve. With the combined support of EQT and GIC, we are in an excellent position to accelerate the growth of our innovative waste solutions, amplify our zero-waste initiatives, decrease reliance on landfills, and contribute to a more sustainable and resilient future for everyone.”

The transaction is subject to customary conditions and approvals and is expected to close in Q1 2025.

Citi and Houlihan Lokey are serving as financial advisors and Simpson Thacher & Bartlett are providing legal counsel to EQT Infrastructure.  Goldman Sachs is serving as exclusive financial advisor and Dechert is providing legal counsel to GIC.

Contact
EQT Press Office, press@eqtpartners.com

GIC Press Office, Katy Conrad – Head, Corporate Affairs & Communications – Americas, katyconrad@gic.com.sg 

Reworld™ Press Office, Nicolle Robles, NRobles@reworldwaste.com

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

https://news.cision.com/eqt/r/eqt-broadens-reworld–investor-base–welcoming-gic-as-strategic-investor,c4045637

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Government of Canada leverages new technologies to improve HR and pay operations and support employees

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GATINEAU, QC, Oct. 2, 2024 /CNW/ – The Government of Canada is committed to supporting employees and resolving outstanding pay issues for federal public servants while working to improve their overall human resources (HR) and pay experience. Pay issues that employees continue to face are unacceptable and it is our top priority to resolve them.

Today, the second quarterly progress report was published, which provides an update on ongoing progress related to HR and pay. This summer, we have been working on various projects to better support employees, while also improving current operations and continuing to explore a new HR and pay solution. The report includes details on:

Pay Centre virtual assistant;MyGCPay improvements;Dayforce user awareness sessions;New Case Client Relationship Management tool

In 2021, we began exploring and testing the Dayforce solution, a viable option for the next modern HR and pay system. This fall, we started the Dayforce user sessions to provide public servants with an opportunity to try Dayforce and provide their feedback.

To help resolve pay issues and improve our operations, we launched various HR and pay initiatives, such as a new artificial intelligence (AI) based virtual assistant to support compensation advisors and significantly reduce processing times. We are also in the early stage of exploring options for a new and modern Case Client Relationship Management tool, which will allow for more efficient management of pay transactions.

The Government of Canada will continue engaging with employees and stakeholders while working on various initiatives to support its employees, resolve HR and pay issues, and make progress on exploring a possible replacement for Phoenix. Quarterly updates on the progress of HR and pay projects will also be provided.

Quote

“We are improving our current operations to better serve federal public servants, while working towards a new HR and pay system that meets our needs now and into the future.  It is our responsibility to ensure public servants are paid accurately and on time.”

The Honourable Jean-Yves Duclos
Minister of Public Services and Procurement and Quebec Lieutenant

“All public service employees deserve to be paid accurately and on time. As we work on improvements to our systems by reducing the number of HR systems in the core public administration and facilitating automation, we will work closely with bargaining agents to simplify overall human resources processes for employees, managers and pay practitioners.”

The Honourable Anita Anand
President of the Treasury Board and Minister of Transport

Quick facts

$135 million was allocated in Budget 2024 to explore a new HR and pay solution for 2024-25, $112.1 million is allocated to PSPC and $22.7 million is allocated to TBS. The total includes an allocation of $85 million to amend the contract with Dayforce to continue to expand testing and design the system to our specific needs.The current HR and pay systems are used to deliver pay to over 430,000 current and former public servants from over 100 departments and agencies. In 2023, this represented approximately 13.1 million payments, totalling approximately $36 billion.So far in 2024, we’ve achieved an enterprise-wide average biweekly payroll accuracy of 97.8%The Public Service Pay Centre provides pay services for 49 organizations serving over 250,000 clients.As part of Budget 2024, the Government of Canada allocated an additional $135 million to expand testing and design of a new HR and pay solution for the public service. This decision supports the eventual replacement of the Phoenix pay system and its HR systems.

Associated links

Summer 2024 Quarterly progress report 

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SOURCE Public Services and Procurement Canada

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Institutional Investor Launches the First Global Think Tank for the Asset Management Industry

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NEW YORK, Oct. 2, 2024 /PRNewswire/ — After over two decades of leading peer-to-peer learning and networking, Institutional Investor (II) is proud to announce the launch of the Asset Management Institute (AMI) — the first global think tank and private C-suite network designed exclusively for the asset management industry. The launch coincides with the release of II’s inaugural Global Asset Management Survey.

“This is part of II’s strategic vision to partner holistically with clients across every function,” said Kat Storfer, Head of North America at Institutional Investor. “We are proud to be the only organization capable of delivering value to asset management firms through an exclusive, prestigious C-suite network on a global scale.”

With the current wave of change affecting the sector — from leadership transitions to advancements in technology and AI — now is the ideal moment for the industry to have a dedicated private platform for sharing insights, benchmarking, and discussing its future.

The Institute will have dedicated sub-networks tailored for key C-suite roles, including CEOs, CIOs, CFOs, COOs, CHROs, General Counsel, Chief Compliance Officers, Chief Marketing Officers, Chief Technology Officers, Chief Product Officers, and Heads of Distribution. This structure underscores the growing strategic importance of these leadership positions within asset management firms and their influence at the board level. And with its global reach, AMI is uniquely positioned to align with the international scope of the asset management community and the broader financial industry.

Jim McCaughan, Chairman of the Asset Management Institute, added: “AMI members are at the forefront of the industry, constantly driving innovation and learning from one another. The Institute will amplify knowledge and create meaningful connections as investment management undergoes a time of tremendous transformation.”

Membership in the Asset Management Institute is by invitation only. For more information about AMI, please visit https://eml.iiconferences.com/l/81142/2024-07-23/667g4x/81142/1727702061ureg3lPn/AMI_Overview___Oct24.pdf or contact David Braham, +1 (212) 224-3212, david.braham@institutionalinvestor.com.

Contact: Bryan Fox
Marketing Director
bryan.fox@institutionalinvestor.com

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SOURCE Institutional Investor

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G2 Customer Reviews Name Appdome Leader in Five New Categories

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Appdome wins ‘Anti-Fraud,’ ‘Mobile Data Protection,’ ‘Best Meets Requirements,’ ‘Easiest Setup’ and ‘Easiest to Do Business With’ Among Other Recognition

SAN FRANCISCO, Oct. 2, 2024 /PRNewswire/ — Appdome, the experience leader in mobile defense, today revealed it has been recognized as the market leader and high performer in five (5) additional categories on G2, the world’s largest and most trusted software marketplace. The five (5) new leadership categories include Anti-Fraud, Mobile Data Protection, Meets Requirements, Easiest Setup and, as a company, Easiest to do Business With. This extends Appdome’s experience leadership, adding to its prior customer recognition as Most Likely to Recommend and Users Love Us.

“Our customers trust Appdome to provide always-on, continuous defense for their mobile business,” said Jamie Bertasi, Chief Customer Officer of Appdome. “Appdome isn’t a point product. This customer recognition spans the full range of the value proposition we provide every mobile business, in mobile app security, anti-fraud, bot defense, DevSecOps, compliance and more.”

The Appdome Platform provides full lifecycle defense for mobile brands and enterprises. It’s the only solution that can centralize mobile defense for external-consumer and internal-employee use cases into one platform and workflow, and streamline the secure, monitor and respond lifecycle for 340+ mobile defenses with ease. Appdome 340+ defenses work with all Android & iOS platforms and apps and include the widest defense selection offered by any one vendor. These defenses are offered in broad feature categories including mobile app security, anti-fraud, anti-malware, anti-cheat, anti-bot, geo compliance, social engineering, Mobile EDR, Mobile XDR, and more. To simplify deployment, maintain agility, and shorten incident response times, Appdome uses AI/ML to code the defenses into Android & iOS applications and mobile SDKs as well as to monitor and respond automatically to threats and attacks as they arise. To use Appdome, there’s no SDK, no server, no code or coding needed by an engineering team.

“The architecture and technology behind Appdome are the difference,” said Chris Roeckl, Chief Product Officer of Appdome. “While others try to add a GUI on top of their SDK-based point products, Appdome’s GUI isn’t the story. The story is the modular architecture and how we use AI/ML to code the defenses into mobile apps, adapting the defense to each application. Continuous defense is our advantage.”

Customers report robust feature coverage, high quality support, and ease of setup with rapid time to implement for fast ROI. For example, one customer in Healthcare says “Easy security with Appdome… very extensive set of security features allow us to improve security applications very fast.” While a Security Engineering Manager said “The product stands out for ease of implementation… with just a few clicks all necessary protections can be enabled.” A customer in Financial Services noted “dedicated and attentive onboarding team and customer support with fast and meaningful turnarounds on all support requests.”

“The industry is seeing a significant surge in mobile fraud and bot attacks, which in turn is causing significant financial loss and customer frustration,” said Brian Reed, SVP Marketing at Appdome, “Mobile brands and enterprises are starting to ask ‘Why spend time and resources trying to stitch together multiple point products to handle the myriad of security and fraud threats we’re facing, when we can seamlessly and efficiently deliver all the protection needed in the mobile business with a click of a button and let AI/ML do the work?’ They’re right. Appdome’s approach makes business sense.”

Learn more about what real users have to say about Appdome on G2’s review page.

For more information on the Appdome Unified Mobile App Defense Platform, visit https://www.appdome.com

About Appdome
Appdome is the experience leader in mobile defense. Our award-winning, and patented, mobile defense platform uses AI-ML to automate the work and complexity out of securing mobile businesses, apps and users. With Appdome, mobile brands and enterprises enjoy a single pane of glass to create Certified Secure™ mobile apps with ease, eliminating multiple point products and SDKs, and unifying mobile app security, anti-fraud, anti-bot, anti-malware, geo compliance, social engineering and other defenses with real time threat monitoring, mobile EDR, XDR, and IR for external-consumer and internal-employee facing mobile apps. At 340+ mobile app defense features and growing, Appdome provides the most comprehensive and extensible mobile defense solution on the market. The platform is fully automated out of the box using pre-built plugins to the full DevOps, CI/CD and Enterprise automation and support stack. Appdome also leads the market in user experience and support, with its industry leading, in-app, Threat-Events™ threat intelligence framework and GenAI powered Threat Resolution Center™. These, combined with a host of enterprise grade and compliance features built into the platform, allow all stakeholders, including mobile engineering, cyber teams, network security, DevOps, SecOps, IT, UEM-MAM, mobile support teams, and mobile end users to benefit from using Appdome. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending. 

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SOURCE Appdome

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