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AppTech Corp. Terminates LOI to Acquire Alliance Financial Network, Inc.

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CARLSBAD, Calif., June 14, 2019 (GLOBE NEWSWIRE) — AppTech Corp. (OTC PINK SHEETS: APCX) announces it has terminated the letter of intent to acquire 100% of the equity, liabilities, and subsidiaries of Alliance Financial Network, including eXPO™.

AppTech Corp continues to work with multiple companies to acquire technology that will enhance development for their multiple payment platforms.

For more information about AppTech, please visit www.apptechcorp.com.

About AppTech

AppTech Corp. is a FinTech company providing electronic payment processing technologies and merchant services. The company recently expanded its core services to include global SMS patented text messaging and secure mobile payments based on multi-factor authentication technology.

Forward-Looking Statements

This press release contains forward-looking statements that are inherently subject to risks and uncertainties. Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as “anticipate”, “believe”, “estimate”, “expect”, “forecast”, “intend”, “may”, “plan”, “project”, “predict”, “should” and “‘will” and similar expressions as they relate to AppTech are intended to identify such forward-looking statements. These forward-looking statements involve risks and uncertainties concerning the Company. Actual events or results may differ materially from those described in this press release due to a number of factors. AppTech is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

Media Contact
(760) 707-5959
media@apptechcorp.com

Investor Relations Contact
(760) 707-5955
ir@apptechcorp.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

IT Industry

ATP Launches First Industrial-Only SLC-Based E800Pi e.MMC with Premium Endurance of 60K P/E Cycles for High-Reliability Applications

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TAIPEI, Taiwan, Sept. 16, 2019 (GLOBE NEWSWIRE) — ATP Electronics, the leading manufacturer of industrial-only memory and storage solutions, is launching E800Pi, its first embedded multimedia card (e.MMC) based on native single-level cell (SLC) flash with a very high endurance rating of 60K program/erase (P/E) cycles.

“Embedded storage devices operate in challenging environments, are usually placed within very limited spaces and are expected to function reliably over extended periods of time. ATP addresses the high reliability needs of industrial applications through its latest e.MMC, the E800Pi, which packs native SLC flash within its compact form to provide ultra-high endurance and trustworthy performance for the most rigid industrial requirements,” said Marco Mezger, ATP Vice President of Global Marketing. He adds, “SLC is widely recognized as ideal for applications requiring high reliability due to its unparalleled endurance, lowest read disturb and highest data retention capability. With ATP’s SLC-based E800Pi e.MMC, our customers can be assured of the most optimal total cost of ownership (TCO).”

Aside from its superior endurance, the SLC-based E800Pi e.MMC offers strong resistance against high and cross temperatures with its ability to operate in extremely hot or cold settings from -40°C to 85°C (industrial temperature rating). It is designed according to JEDEC e.MMC v4.41 standard with support for enhanced features such as Health Report, Field Firmware Update (FFU) and Fast Boot operation. The S.M.A.R.T. (Self-Monitoring, Analysis, and Reporting Technology) feature monitors various parameters of endurance and reliability, indicating activity that is out of the normal range to help predict storage failure for preventive action.

ATP e.MMC employs Advanced Global Wear Leveling to maximize flash life, Page Mode FW architecture technology to improve Random performance, Dynamic Data Refresh and AutoRefresh to sustain data integrity in seldom-accessed and read-only areas, and the Early Retirement technology to prevent data loss from weak blocks. The Sudden Power-Off Recovery (SPOR) firmware backup mechanism ensures reliable operation and protects data during power supply voltage fluctuations and power losses. Verified by ATP-developed power cycling tests and random power-off in write applications, SPOR effectively protects data that has been written to the e.MMC prior to power loss.

Available in capacities from 1 GB to 2 GB, the SLC-based E800Pi e.MMC is ideal for use in boot-up and other high-reliability embedded systems applications.

For inquiries, please contact ATP regional sales, distributors, or send an email to Info@atpinc.com.
Media Contact: Kelly Lin (Kellylin@tw.atpinc.com)

Follow ATP Electronics on LinkedIn: https://www.linkedin.com/company/atp-electronics
For more information on the product, visit: http://bit.ly/32wsy97

About ATP
ATP Electronics is the leading provider of “Industrial Only “high-performance, high-quality and high-endurance NAND flash products and DRAM modules. With over 25 years of manufacturing expertise, ATP ensures that all its products are designed and built to accomplish mission-critical tasks in industrial/automation, telecom, medical, automotive, and enterprise computing applications where high levels of technical proficiency, manufacturing quality, and wide operating temperature ranges are required. ATP is a certified Eco/Green partner of tier one OEMs and all ATP products are fully RoHS and China RoHS compliant. A true manufacturer, ATP manages every stage of the manufacturing process to ensure quality and product longevity, offering in-house design, testing, and tuning from component to product level. ATP supply chain support includes controlled/fixed BOMs and long-term product life cycles. For more information on ATP Electronics, please visit www.atpinc.com or contact us at info@atpinc.com.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/691240f4-2b71-4d88-8ee8-345088c5c949

 

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IT Industry

OTEGLOBE Doubles Subsea Network Capacity with Infinera Deployment

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SUNNYVALE, Calif., Sept. 15, 2019 (GLOBE NEWSWIRE) — Infinera (NASDAQ: INFN) announced today that OTEGLOBE deployed Infinera’s industry-leading fourth-generation Infinite Capacity Engine (ICE4) technology to double the capacity on its international subsea network on the subsea links between Greece and Italy that form an essential part of OTEGLOBE’s European network.

Infinera’s ICE4 technology delivered the terabit capacity and reach OTEGLOBE required for its unrepeatered subsea cables, enabling the company to meet the increasing demands of its wholesale customers. The two unrepeatered subsea cables between Greece and Italy, of approximately 350 kilometers each, are a key part of OTEGLOBE’s network and are essential for OTEGLOBE to extract maximum capacity from that asset.

By combining a resilient subsea route with its terrestrial European network, OTEGLOBE provides an alternative route for wholesale carriers in Europe to connect to Asia and the rest of the world via its Mediterranean hub in Greece. Traffic from Asia is routed through the AAE-1 subsea cable to OTEGLOBE’s landing station at Chania, then on through OTEGLOBE’s diverse and protected terrestrial network to Europe, ensuring resilience and diversity in the region. Chania can also be used as an alternative landing in EMEA, attracting new cables that can benefit from OTEGLOBE’s reliable network.

Infinera’s ICE4 technology delivered more than double the capacity on OTEGLOBE’s network, taking advantage of the unique features of this optical engine that include Nyquist subcarriers, soft-decision forward error correction gain sharing, and photonic integrated circuit-based shared wavelength locker technology.

“Greece is becoming a significant alternative hub for network capacity, connecting Europe to Asia and the rest of the world,” said Panagiota Bosodgianni, CTO of OTEGLOBE. “Our wholesale customers increasingly demand higher bandwidth and more reliable services, and to meet their needs, we require the best and most innovative technology on the market. With the introduction of ICE4, we managed to reach 10.8 Tb/s on the unrepeatered subsea links, exceeding our expectations.”

“Infinera is pleased to support OTEGLOBE in delivering reliable, high-capacity services to its customers,” said Bob Jandro, Senior Vice President, Worldwide Sales at Infinera. “OTEGLOBE’s terrestrial network is powered by Infinera’s solutions, and the upgrade of its subsea cable system with ICE4 underscores the value of our technology in thriving terrestrial and subsea applications. By deploying Infinera’s innovative ICE-based subsea solution, OTEGLOBE is able to significantly increase capacity, exceeding expectations, on legacy cables.”

Infinera will showcase its industry-leading coherent optical transmission solutions this week at Submarine Networks World, the leading annual gathering for the global subsea communications community, from September 16-18 in Singapore.

Contacts:

Media:
Anna Vue
Tel. +1 (916) 595-8157
avue@infinera.com

Investors:
Ted Moreau
Tel: + 1 (408) 542-6205
tmoreau@infinera.com

About Infinera
Infinera is a global supplier of innovative networking solutions that enable carriers, cloud operators, governments, and enterprises to scale network bandwidth, accelerate service innovation, and automate network operations. The Infinera end-to-end packet-optical portfolio delivers industry-leading economics and performance in long-haul, subsea, data center interconnect, and metro transport applications. To learn more about Infinera, visit www.infinera.com, follow us on Twitter @Infinera, and read our latest blog posts at www.infinera.com/blog.

Infinera and the Infinera logo are registered trademarks of Infinera Corporation.

This press release contains forward-looking statements including, but not limited to the potential technical, operational and financial benefits provided when deploying Infinera solutions. These statements are not guarantees of results and should not be considered as an indication of future activity or future performance. Actual results may vary materially from these expectations as a result of various risks and uncertainties. Information about these risks and uncertainties, and other risks and uncertainties that affect Infinera’s business, is contained in the risk factors section and other sections of Infinera’s Quarterly Report on Form 10-Q for the Fiscal Quarter ended June 29, 2019 as filed with the SEC on August 8, 2019, as well subsequent reports filed with or furnished to the SEC. These reports are available on Infinera’s website at www.infinera.com and the SEC’s website at www.sec.gov. Infinera assumes no obligation to, and does not currently intend to, update any such forward-looking statements.

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IT Industry

Global Cloud Xchange Announces Plan to Secure Financial Future

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Company initiates voluntary, pre-packaged Chapter 11 restructuring with support from more than 75 percent of lenders

Proposed plan of reorganization positions the Company to aggressively pursue growth and development with $150 million in bond debt reduction, new working capital financing and strong new ownership

NEW YORK, Sept. 15, 2019 (GLOBE NEWSWIRE) — Global Cloud Xchange (“GCX” or the “Company”) today announced a pre-packaged Plan of Reorganization (the “Plan”) that will support its long-term growth and development by reducing bond debt by $150 million, providing a permanent capital structure that includes working capital facility and transitioning the business to new ownership. The Company has initiated a voluntary case under Chapter 11 of the United States Bankruptcy Code to effectuate the Plan while continuing to serve its customers as usual. Upon emergence from this process, the Company expects to be well-positioned to aggressively pursue its business plan independent of the overhang caused by its corporate parent’s challenges.

More than 75 percent of the Company’s lenders have already committed their support for the Plan, which outlines the terms for a transaction through which GCX’s senior secured noteholders would become owners of the Company and provide new loans to support and grow the business. To ensure GCX maximizes value for its stakeholders in this process, the Company also will use the protections and framework of Chapter 11 to undertake a sale process that welcomes additional prospective buyers. GCX expects to complete the Chapter 11 process and emerge as a stronger company within the fourth quarter of 2019, subject to all required regulatory approvals.

Customers, suppliers and employees should expect to work with all GCX entities as usual throughout the Chapter 11 process. The Plan does not contemplate any changes in business arrangements or activities for any GCX subsidiary, and according to the terms of the Plan, all trade/vendor claims will be paid in full. GCX has also filed the customary motions as part of its Chapter 11 case to compensate employees as usual, maintain its usual programs for customers and partners, and otherwise operate its business as usual.

“We appreciate the strong collaboration with our lenders, which has resulted in a Plan of Reorganization that allows us to honor our commitments to employees, customers and suppliers while also securing a financially strong future for our business,” said Bill Barney, Chairman and CEO of GCX. “We are a fundamentally strong company, providing mission-critical, expertly managed network solutions for telecommunications, global enterprise and OTT customers. The steps we are announcing today will allow us to continue to build on our strengths and emerge as an even stronger employer and business partner.”

Entities included in the Chapter 11 process are borrowers or guarantors under the Company’s senior secured notes. Additional information is available via the Company’s restructuring website, https://cases.primeclerk.com/gcx.

GCX is advised in its restructuring by Lazard, Paul Hastings LLP and FTI Consulting, Inc.

ABOUT GLOBAL CLOUD XCHANGE

Global Cloud Xchange (GCX), a subsidiary of Reliance Communications, offers a comprehensive portfolio of solutions customized for carriers, enterprises and new media companies. GCX owns the world’s largest private undersea cable system spanning more than 68,000 route kms which, seamlessly integrated with Reliance Communications’ 200,000 route kms of domestic optic fiber backbone, provides a robust Global Service Delivery Platform. With connections to 40 key business markets worldwide spanning Asia, North America, Europe and the Middle East, GCX delivers leading edge next generation Enterprise solutions to more than 160 countries globally across its Cloud Delivery Network. www.globalcloudxchange.com

For more information, please contact:

GCX:
Lorain Wong
Email: lwong@globalcloudxchange.com
Tel: +852 2848 0075

Lazard:
Richard Stables
Email: richard.stables@lazard.com
Tel: +44 (0) 20 7187 2000

Ken Ziman
Email: ken.ziman@lazard.com
Tel: +1 (212) 632 6000

FTI Consulting:
Michael Katzenstein 
Email: mike.katzenstein@fticonsulting.com
Tel: +1 (212) 651-7169

Don Harer
Email: don.harer@fticonsulting.com
Tel: +1 (312) 622-2932

Paul Hastings:
Chris Dickerson
Email: chrisdickerson@paulhastings.com
Tel: +1 (312) 499-6045

Todd Schwartz
Email: toddschwartz@paulhastings.com
Tel: +1 (650) 320-1883 

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