MIAMI, Nov. 26, 2024 /PRNewswire/ — Lafayette Square announced today that it has provided debt capital to support the NewSpring Holdings, LLC (“NewSpring”) acquisition of C Speed, LLC (“C Speed”), a leading provider of advanced radar systems and engineering solutions for civilian and military use globally.  

Founded in 1996 and headquartered in Liverpool, New York, C Speed manufactures radars, provides surveillance products as well as surveillance-as-a-service offerings through its software defined radio IP, and supports the modernization of legacy ground-based radars. With this acquisition, NewSpring intends to provide C Speed with strategic guidance, greater resources and human capital to meet the advanced needs of the U.S. Government.

“With increasing demand for innovative, cost-effective security and surveillance solutions, C Speed’s expertise in radar systems and technology integration presents a unique investment opportunity,” said Tom Mullin, Director, Lafayette Square. “C Speed understands the value of partnering with government, given its long-standing relationships in the federal services sector. We look forward to partnering with NewSpring to help drive the company’s future growth.” 

“We are excited to embark on this next chapter with support from NewSpring and Lafayette Square,” said David Lysack, President & CEO of C Speed. “By partnering with NewSpring and Lafayette Square, we can continue to advance our technology and expand into markets that truly need our solutions.” 

“C Speed’s proven expertise in radar systems and solutions is aligned with our strategic growth within the government services sector,” said Lee Garber, General Partner, NewSpring. “With funding from Lafayette Square and a shared commitment to supporting and empowering C Speed’s talented workforce, we are well-positioned to enhance our technological offerings, drive innovation, and broaden our impact across key sectors.” 

In addition to financing, Lafayette Square offers its portfolio companies access to Worker Solutions™, a custom-built platform that seeks to measurably improve employee retention, well-being, and productivity by connecting management teams to a curated list of third-party service providers that offer nontraditional benefits for their employees. By delivering these solutions, Lafayette Square aims to reduce operational risk for its portfolio companies, help them attract and retain talent, and improve job quality. 

About C Speed, LLC

C Speed is a leading provider of advanced radar systems and engineering solutions for both civilian and military applications. The company specializes in the design, prototyping, and manufacturing of state-of-the-art radar systems, with a particular focus on radar receivers, exciters, and signal processors. C Speed has built a strong reputation through its collaborations with major defense contractors and government agencies, including the U.S. Air Force, U.S. Army, U.S. Navy, Department of Homeland Security (DHS) and NATO. Their product portfolio includes the “LightWave Software Defined Radar Platform,” designed as a cost-effective, software-based, alternative for legacy radar modernization while also providing new surveillance radars to their customers. With over 30 years of experience in the radar industry, C Speed continues to innovate, providing essential support to national and international defense initiatives.

About NewSpring

NewSpring is a lower-middle market focused private equity firm that partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages approximately $3.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having completed over 250 investments, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com

About Lafayette Square

Lafayette Square invests in middle market companies while positively supporting people and communities. We believe the demand for capital in businesses headquartered outside of high-income places is an overlooked opportunity. We seek investment opportunities that stimulate economic growth across the United States through the creation and preservation of working-class jobs. For more information, please visit www.lafayettesquare.com.

Media Contact:
Jansel Murad
Dukas Linden Public Relations
646-722-6537
lafayettesquare@dlpr.com

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SOURCE Lafayette Square Holding Company

BEIJING, Nov. 26, 2024 /PRNewswire/ — Baijiayun Group Ltd (“Baijiayun” or the “Company”) (NASDAQ: RTC), a one-stop AI video solution provider, recently announced it has completed autumn upgrade of “DuanXunBao”.

Recently, the new-generation knowledge delivery tool, “DuanXunBao”, has completed its autumn refresh and upgrade. “DuanXunBao” is a lightweight yet feature-rich product launched by Baijiayun, a US-listed company. Based on the model of training camps (short-term series of courses), it enables clients to build a knowledge payment platform with just one click and achieve high-quality online classroom delivery in the forms of live broadcasts, video-on-demand, etc., providing convenient ways for knowledge monetizers to create teaching platform and meeting their needs in multiple scenarios such as online teaching, user attraction, marketing conversion, commercial monetization, and brand promotion.

From the comprehensive optimization of the distribution function to the seamless connection of storefront business and then to the real-time monitoring of back-end data, this upgrade of “DuanXunBao” has provided more efficient and convenient operation solutions for knowledge monetizers.

By this upgrade, distributors can obtain their exclusive live broadcast promotion links in the C-end stores. This mechanism effectively tracks customers’ purchasing behaviors and enables timely adjustments to sales strategies, effectively promoting the growth of product sales.

In the brand-new version of “DuanXunBao”, data management and analysis have become another important upgrade direction. Knowledge monetizers can view the order status of different stores and different products in real time in the back-end, so as to better manage inventory. The realization of this function helps stores accurately grasp market dynamics and provides a powerful basis for subsequent inventory adjustments.

About Baijiayun Group Ltd 

Baijiayun is a one-stop AI video solution provider with core expertise in SaaS/PaaS solutions. Baijiayun is committed to delivering reliable, high-quality video experiences across devices and localities and has grown rapidly since its inception in 2017. Premised on its industry-leading video-centric technologies, Baijiayun offers a wealth of video-centric technology solutions, including Video SaaS/PaaS, Video Cloud and Software, and Video AI and System Solutions. Baijiayun caters to the evolving communications and collaboration needs of enterprises of all sizes and industries. For more information, please visit ir.baijiayun.com.

Safe Harbor Statement

This press release contains certain “forward-looking statements.” These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the parties’ perspectives and expectations, are forward-looking statements. The words “will,” “expect,” “believe,” “estimate,” “intend,” and “plan” and similar expressions indicate forward-looking statements.

Such forward-looking statements are inherently uncertain, and shareholders and other potential investors must recognize that actual results may differ materially from the expectations as a result of a variety of factors. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties, and other factors, many of which are hard to predict or control, that may cause the actual results, performance, or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements. The forward-looking information provided herein represents the Company’s estimates as of the date of this press release, and subsequent events and developments may cause the Company’s estimates to change.

The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.

A further list and description of risks and uncertainties can be found in the documents the Company has filed or furnished or may file or furnish with the U.S. Securities and Exchange Commission, which you are encouraged to read. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements relate only to the date they were made, and the Company undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made except as required by law or applicable regulation.

For investor and media enquiries, please contact:

Company Contact:

Ms. Fangfei Liu 
Chief Financial Officer, Baijiayun Group Ltd
Phone: +86 25 8222 1596
Email: ir@baijiayun.com

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SOURCE Baijiayun Group Ltd

WOBURN, Mass., Nov. 26, 2024 /PRNewswire/ — Report by Parlance: In October 2024, Hurricane Milton ravaged Florida’s Gulf Coast, leaving more than three million Floridians without power. Utility companies were unable to quickly repair electrical lines due to the damage/flooding — 1.9 million people remained powerless for over 48 hours.

Countless households lost access to the internet, left with only the phone. Florida health systems that require the use of online portals create a barrier for patients.

Health equity begins at an organization’s digital front door. CIOs must prioritize the ease of healthcare access. No one asks to be sick. No one asks for a hurricane. Health systems need to meet people where they are.

For many Floridians, the internet is a barrier:

• Florida has the third-lowest literacy rate in the country. 20% of adults lack basic reading skills and won’t use web chats or portals.

• Florida has the second-highest population of senior citizens per capita.

– 71% of Baby Boomers prefer to contact their doctor over the phone.
– 28% of Americans age 71+ are visually impaired and struggle to read small text.
– 21% of Americans suffer from osteoarthritis in their hands, making the use of computer keyboards painful.

• About 30% of Floridians don’t speak English at home. Non-English speakers struggle to understand the complex language in a healthcare portal.

While these hurdles are distinctly present in Florida, inequity at the healthcare front door affects tens of millions of Americans.

How Healthcare Organizations Can Improve Equity and Access to Care 

When hospitals and clinics use conversational AI to modernize phone-based communication, it benefits the greatest percentage of healthcare consumers.

The Parlance IVA (intelligent virtual assistant) enables callers to self-serve by speaking on the phone. The IVA handles appointment management tasks, FAQs, and other routine calls. This prevents long hold times and enables agents to assist people who need urgent help.

72% of consumers pick up the phone first when they want fast service. For many people – whether due to disability, literacy, language barriers, or a hurricane – the phone is the only option.

Digitizing and automating the voice channel with the Parlance IVA ensures that all patients can engage with hospitals and clinics effortlessly, no matter their circumstances.

Parlance Promotes Health Equity

For over 25 years, Parlance has been a leader in voice-first technologies. Hundreds of health systems rely on us to improve patient experience and business operations.

Media contact:
Alexandra Karasic
info@parlancecorp.com
781-306-2200

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SOURCE Parlance