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Western Digital Announces Sale of IntelliFlash Business to DDN and Intention to Exit Storage Systems

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Western Digital to Focus on Fabric-Based Data Center Storage Infrastructure and Platforms

SAN JOSE, Calif.–(BUSINESS WIRE)–Western Digital Corp. (NASDAQ: WDC) today announced that it has entered into a definitive agreement to sell its IntelliFlash™ business to DDN, a global leader in artificial intelligence (AI) and multi-cloud data management. In addition, Western Digital and DDN have agreed to expand their existing partnership through a multi-year strategic sourcing agreement, under which DDN will increase its purchase of Western Digital’s HDD and SSD storage devices.

This announcement is part of Western Digital’s strategic intention to exit Storage Systems, which consists of the IntelliFlash and ActiveScale™ businesses. The company is exploring strategic options for ActiveScale. These actions will allow Western Digital to optimize its Data Center Systems portfolio around its core Storage Platforms business, which includes the OpenFlex™ platform and fabric-attached storage technologies.

“As we look to the future, scaling and accelerating growth opportunities for IntelliFlash and ActiveScale will require additional management focus and investment to ensure long-term success,” said Mike Cordano, president and chief operating officer. “By refocusing our Data Center Systems resources on our Storage Platforms business, we are confident that the Western Digital portfolio will be better positioned to capture significant opportunities ahead and drive long-term value creation.”

“DDN has deep technical expertise and capabilities in high performance and at scale data environments, and is well positioned to build on and accelerate the success of the business,” said Phil Bullinger, senior vice president & general manager of the Data Center Systems business. “Importantly, both Western Digital and DDN are aligned in our commitment to executing a smooth transition for all stakeholders. Western Digital will remain one of the largest consumers of IntelliFlash products, and customers will continue to receive best-in-class service and support.”

The transaction is expected to close later this calendar year, subject to the satisfaction of customary closing conditions. Financial terms of the transaction were not disclosed. Western Digital’s intended exit of Storage Systems is expected to generate an annual non-GAAP EPS benefit of at least $0.20 starting in the fiscal 2020 third quarter ending April 3, 2020. The Company will also incur restructuring and other charges, which are not determinable at this time.

About Western Digital

Western Digital, a leader in data infrastructure, creates environments for data to thrive. The company is driving the innovation needed to help customers capture, preserve, access and transform an ever-increasing diversity of data. Everywhere data lives, from advanced data centers to mobile sensors to personal devices, our industry-leading solutions deliver the possibilities of data. Our data-centric solutions are marketed under the G-Technology™, SanDisk®, WD®, and the Western Digital® brands.

Western Digital, the Western Digital logo, OpenFlex, ActiveScale and IntelliFlash are registered trademarks or trademarks of Western Digital Corporation or its affiliates in the US and/or other countries. All other marks are the property of their respective owners.

Note Regarding Non-GAAP Financial Measures

This news release discloses the non-GAAP EPS benefit expected from the transaction. Non-GAAP EPS is a financial measure that is not presented in accordance with U.S. generally accepted accounting principles (“GAAP”). The expected Non-GAAP EPS benefit disclosed herein excludes the amortization of acquired intangible assets, stock-based compensation expense, employee termination, asset impairment and other charges, charges related to cost saving initiatives and convertible debt activity. The timing and amount of these charges and additional charges that may impact the non-GAAP EPS benefit cannot be quantified and are dependent on the timing and determination of certain actions and, therefore, cannot be reasonably predicted. Accordingly, a full reconciliation of non-GAAP EPS benefit to the comparable GAAP financial measure depicting the impact of the transaction on a GAAP basis is not available without unreasonable effort.

Forward-Looking Statements

This news release contains forward-looking statements that involve risks and uncertainties, including, but not limited to, statements regarding the timing and expected impact of our strategic partnership and related transaction with DDN, business strategies and growth opportunities, and product and technology portfolio. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved, if at all. Forward-looking statements are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.

Key risks and uncertainties include the possibility that conditions to closing the transaction may not be satisfied, such that the transaction will not close or that the closing may be delayed; volatility in global economic conditions; business conditions and growth in the storage ecosystem; impact of competitive products and pricing; actions by competitors; unexpected advances in competing technologies; our development and introduction of products based on new technologies and expansion into new data storage markets; difficulties or delays in manufacturing; and other risks and uncertainties listed in the company’s filings with the Securities and Exchange Commission (the “SEC”) and available on the SEC’s website at www.sec.gov, including our most recently filed periodic report, to which your attention is directed. We do not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Contacts

Jim Pascoe

Corporate Communications

408.717.6999

jim.pascoe@wdc.com

Peter Andrew

Investor Relations

949.672.9655

peter.andrew@wdc.com

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Business Wire

Thales Named a Market Leader in KuppingerCole Analysts Leadership Compass for Identity-as-a-Service Access Management

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  • Thales recognized for global reach, number of customers and partner ecosystem
  • Positive ratings for innovativeness, interoperability, market position, security and usability

PARIS LA DÉFENSE, France–(BUSINESS WIRE)–Thales today announced that it has been positioned as a Market Leader in the 2019 KuppingerCole Leadership Compass for Identity-as-a-Service (IDaaS) Access Management.

The report recognized Thales, through its SafeNet Trusted Access offer, as a market leader in terms of the number of customers, partner ecosystem, and global reach in the IDaaS Access Management market. KuppingerCole’s Leadership Compass takes a thorough look at the overall IDaaS Access Management industry, provides in-depth analysis of the main players in the market, and rates vendors on innovation, product features, and market reach.

“With a strong global presence, SafeNet Trusted Access presents a flexible solution based on standards and, in addition, agents as a service to cater to the access management requirements of organizations with broad contextual authentication needs,” said Martin Kuppinger, founder and principal analyst, KuppingerCole. “Organizations with common IDaaS Access Management requirements should consider SafeNet Trusted Access on their shortlist, specifically when having a need for strong MFA support and flexible authentication policies.”

KuppingerCole recognized SafeNet Trusted Access for its “wide range of authentication factors combined with broad support for contextual attributes to deliver risk adaptive authentication along with some access management functions targeted at B2B, B2E and G2C market segments.” In addition, the report highlighted the global presence for SafeNet Trusted Access and recommended that organizations “should consider SafeNet Trusted Access on their shortlist, specifically when having a need for strong MFA support and flexible authentication policies.”

The KuppingerCole report rated Thales as “strong positive” or “positive” for:

  • Financial Strength
  • Functionality
  • Innovativeness
  • Interoperability
  • Market Position
  • Security
  • Usability

As enterprises increasing move their applications and data to the cloud, access management is increasingly seen as the solution to help simplify cloud access and mitigate the threat of data breaches. According to recent research from Thales, almost half of businesses believe cloud applications make them a target for cyber-attacks. Surveying 1,050 IT decision makers globally, Thales’ 2019 Access Management Index1 revealed that cloud applications (49%) are listed among the top three reasons an organization might be attacked, just behind unprotected infrastructure such as IoT devices (54%) and web portals (50%).

“Thales is honored to be listed a market leader in the 2019 KuppingerCole Leadership Compass report,” said François Lasnier, Vice President for Access Management solutions at Thales. “This validation demonstrates the strength, reach and innovation of SafeNet Trusted Access in meeting the security, compliance requirements and end user needs of organizations that are embracing the cloud for their mission-critical applications and IT infrastructure.”

Thales’ global market leadership position comes from more than two decades of innovation in the access management and authentication market. SafeNet Trusted Access is a cloud-based access management solution that combines the convenience of single sign-on (SSO) with granular access security controls and adaptive authentication. By validating identities, enforcing access policies and applying Smart SSO, SafeNet Trusted Access helps organizations ensure secure, convenient access to cloud applications, prevent data breaches and simplify compliance.

Download the full KuppingerCole Leadership Compass for IDaaS Acess Management.

1The 2019 Access Management Index, is a survey of 1050 executives in 11 countries with responsibility for, or influence over, IT and data security. The survey, reporting and analysis was conducted by Vanson Bourne, commissioned by Thales.

Contacts

Thales, Media Relations
Security
Constance Arnoux

+33 (0)1 57 77 91 58

constance.arnoux@thalesgroup.com

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Business Wire

Juniper Research: Mobile Financial Services’ Transactions to Exceed $1 Trillion in Emerging Markets by 2024

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Includes Mobile Money Transfer, Microloans, Microsavings and Microinsurance

BASINGSTOKE, England–(BUSINESS WIRE)–#emerging–A new study from Juniper Research found that the total transaction value of the MFS (Mobile Financial Services) market will exceed $1 trillion by 2024; rising from $580 billion in 2019. This is a growth of 70%. The research identified a range of untapped opportunities in Latin America for services such as microfinance, microloans and money transfer, as a key driver of MFS growth over the next five years.

For more insights on Mobile Financial Services in Emerging Markets, download our free whitepaper: The $1 Trillion Opportunity ~ Mobile Financial Services in Emerging Markets.

Latin America – the Underserved Opportunity

The new research, Mobile Financial Services in Emerging Markets: Monetisation Models & Market Forecasts 2019-2024, forecasts that the total number of users accessing MFS in Latin America will grow 20% on average annually over the next five years. This is predicted to grow twice as fast as saturated markets such as Africa & Middle East. In response, it urged MFS vendors to leverage existing experience to launch services in this underserved market.

It also forecasts that the number of MFS users in all emerging markets will reach 1.2 billion by 2024; growing from 890 million in 2019. Africa & Middle East will account for over 600 million users alone by 2024; owing to the high reliance on mobile devices for banking services.

Cash In, Cash Out to Account for Half of Overall MFS Value by 2024

The research found that CICO (Cash In, Cash Out) transactions will be the largest driver of growth for the MFS market; exceeding a value of $590 billion by 2024. CICO allows users to access traditional banking services, such as deposits and withdrawals, via mobile devices.

The report urged MFS providers to expand their agent networks to rapidly grow customer bases. It also forecasts that fostering confidence amongst users for CICO transactions will lead to uptake of more comprehensive MFS products, such as microloans and microinsurance, in the future.

Juniper Research provides research and analytical services to the global hi-tech communications sector; providing consultancy, analyst reports and industry commentary.

Contacts

For further details please contact

Sam Smith, Press Relations

T: +44(0)1256 830002

E: sam.smith@juniperresearch.com

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Business Wire

Broadband Forum Reimagines Services Deployment and Orchestration With Exclusive CloudCO Demonstration at Broadband World Forum 2019

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The first-of-its-kind demonstration is sponsored by Swisscom, BT, and TIM and will showcase zero touch service provisioning of a multi-vendor access network

AMSTERDAM–(BUSINESS WIRE)–#Cloud–As service providers look to introduce new network technologies to accelerate new services deployment with minimal risk, Broadband Forum will demonstrate the latest developments in its Cloud Central Office (CloudCO) and Open Broadband – Broadband Access Abstraction (OB-BAA) initiatives at Broadband World Forum (BBWF) 2019.

CloudCO is a recasting of the Central Office hosting infrastructure that utilizes Software Defined Networking (SDN), Network Functions Virtualization (NFV) and Cloud technologies to support network functions for broadband services. Within this, OB-BAA specifies Northbound Interfaces (NBI), Core Components and Southbound Adaptation Interfaces (SAI) for functions associated with access network devices that have been virtualized, facilitating co-existence and seamless migration.

The first-of-its-kind demonstration of both initiatives at BBWF 2019 will leverage a combination of SDN automation and virtualization, open source innovation and Broadband Forum’s Open Broadband Labs (OB-Labs) infrastructure. This will show zero touch service provisioning of a multi-vendor access network containing NETCONF/YANG and SNMP access nodes via standard and vendor specific adapters, all through a single portal. It will also take advantage of major enhancements to Broadband Forum’s OB-BAA open source project and a soon-to-be-released new Application Note, APPN-446 – ONAP and CloudCO integration for Residential Broadband HSIA Service.

“The CloudCO and OB-BAA demonstration will represent a radical recasting of services deployment and orchestration to the benefit of the industry,” said Geoff Burke, Chief Marketing Officer at Broadband Forum. “CloudCO and OB-BAA are among our Open Broadband initiatives which aim to advance network migration to cloud-based broadband infrastructures and help service providers realize the possibilities of SDN and NFV. This demonstration will highlight the innovative work of the global Open Broadband Labs and the benefits of industry-wide collaboration and interoperability.”

Specifically, the demo illustrates a multi-vendor network use case in which a customer making a service request has the service created and activated by the service provider, only then to relocate to a new location and find the service seamlessly reactivated. This will show a plethora of benefits which are available to service providers through CloudCO, including reductions in the costs of validating, engineering, and improving operation of services.

BT, Swisscom, and TIM will sponsor the demonstration, reinforcing the important role open standards have to play in operators’ future networks.

Kevin Foster, Head of Broadband Technical Standards for BT, said: “CloudCO and OB-BAA will underpin an ability to create a ‘pick & mix’ access network constructed from different technologies and vendors thereby improving operational effectiveness, customer experience, and ensuring easier migration from legacy technologies and services.”

David Pérez Caparrós, Lead DevOps Engineer at Swisscom, said: “With CloudCO and OB-BAA, we will be able to evolve our access network with new technologies at a faster pace, with lower integration costs and higher customer satisfaction through faster response.”

Mauro Tilocca, Access Network Automation expert and Broadband Forum delegate at TIM, added: “CloudCO and OB-BAA, will improve the agility of net ops and maintenance, and enable open programmable interfaces to improve our service portfolio. This demonstration will show zero touch service provisioning of a multi-vendor access network containing NETCONF/YANG and SNMP access nodes via standard and vendor specific adapters, all through a single portal and ONAP operating as CloudCO Orchestrator as well as End-to-End Service Orchestrator.”

Access vendors participating in the demonstration include Nokia, Altice Labs, and DZS which will all leverage an OB-Labs infrastructure enabled by The European Advanced Networking Test Center (EANTC), The University of New Hampshire InterOperability Laboratory (UNH-IOL) and VMware. The demonstration will take place during exhibition hours in the Broadband Forum / Open Broadband Interop Pavilion (A40). In addition, a one-hour session – “Deep Dive on OB-BAA: Managing Multi-Vendor SDN Broadband Networks” – will be hosted by Ovum Principal Analyst Julie Kunstler in the Broadband World News Theater on the exhibition floor starting at 11.15am on 16 October. Participants will include service provider TIM, access vendors Altice Labs, DZS, and Nokia, and OB-Lab enablers EANTC, UNH-IOL, and VMware.

Broadband World Forum 2019 takes place from Tuesday, October 15 to Thursday, October 17, at the RAI, Amsterdam, the Netherlands. For more information, please visit: https://tmt.knect365.com/bbwf/.

About Broadband Forum

Broadband Forum is the communications industry’s leading organization focused on accelerating broadband innovation, standards, and ecosystem development. Our passion – delivering on the promise of broadband by enabling smarter and faster broadband networks and a thriving broadband ecosystem.

Broadband Forum is an open, non-profit industry organization composed of the industry’s leading broadband operators, vendors, thought leaders who are shaping the future of broadband, and observers who closely track our progress. Its work to date has been the foundation for broadband’s global proliferation and innovation. For example, the Forum’s flagship TR-069 CPE WAN Management Protocol has nearly 1 billion installations worldwide.

Broadband Forum’s projects span across 5G, Connected Home, Cloud, and Access. Its working groups collaborate to define best practices for global networks, enable new revenue-generating service and content delivery, establish technology migration strategies, and engineer critical device, service & development management tools in the home and business IP networking infrastructure. We develop multi-service broadband packet networking specifications addressing architecture, device and service management, software data models, interoperability and certification in the broadband market.

Our free technical reports and white papers can be found at https://www.broadband-forum.org/.

Follow us on Twitter @Broadband_Forum and LinkedIn.

For more information about the Broadband Forum, please go to https://www.broadband-forum.org or follow @Broadband_Forum on Twitter. For further information please contact Brian Dolby on +44 (0) 7899 914168 or brian.dolby@proactive-pr.com or Jayne Brooks on +44 (0) 1636 704 888 or jayne.brooks@proactive-pr.com

Contacts

Brian Dolby on +44 (0) 7899 914168 or brian.dolby@proactive-pr.com or Jayne Brooks on +44 (0) 1636 704 888 or jayne.brooks@proactive-pr.com

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