|By Business Wire||
|June 10, 2014 06:30 PM EDT||
Verisae, Inc. (“Verisae”), the leading global provider of the Connected Facility – the integrated software platform that combines maintenance, machine to machine monitoring, energy, and sustainability software solutions into one – today announced the signing of a definitive agreement to acquire ViryaNet Ltd. (OTC QB: VRYAF) (“ViryaNet”). Headquartered in Westborough, MA, ViryaNet’s mobile workforce software solutions optimize and allow for the continuous improvement of service processes for companies with mobile workforces.
“ViryaNet is a strategic acquisition to Verisae’s family of cloud software products,” stated Jerry Dolinsky, Chief Executive Officer of Verisae. “Our customers require a mixed model of leveraging internal and external mobile workforces to service their facilities and assets. By adding ViryaNet’s comprehensive mobile workforce capability to our end-to-end facility platform, our customers will have the ability to improve the productivity of their mobile workforce.”
Currently, over 35,000 service companies use Verisae’s SaaS software when servicing Verisae’s customers in more than 20 countries. The acquisition of ViryaNet will enable Verisae to offer its mobile workforce capability to those service companies as well as to Verisae’s customers, enabling both service companies and facility owners to improve their efficiencies and lower the cost of delivering service.
Combining Verisae’s deep-rooted domain in cloud software for asset management, energy, sustainability, and machine to machine monitoring with ViryaNet’s mobile workforce solutions will allow the combined companies to better understand and support the needs of the market throughout the entire spectrum of the service supply chain. Verisae will continue the growth in its integrated solution, and is uniquely positioned in its ability to integrate traditionally siloed data across distributed facilities into its single solution. The company plans to continue developing new capabilities ahead of the market and on behalf of ViryaNet and Verisae customers alike.
“The acquisition is an exciting opportunity to continue our mobile workforce management journey and deliver innovative solutions that empower service organizations to achieve their business goals,” stated Memy Ish-Shalom, President and Chief Executive Officer of ViryaNet. “Together with Verisae we are better positioned to accelerate the delivery of our joint vision, which will benefit our employees, customers, and future growth.”
ViryaNet will become a strategic business unit of Verisae. The ViryaNet team will stay intact, and its solutions and development resources will be expanded. Subject to regulatory approvals, Verisae expects the transaction to close in fiscal Q3 of 2014.
ViryaNet (www.viryanet.com) delivers mobile workforce management solutions that intelligently guide, automate, and optimize both simple and complex field service work, resulting in measurable business benefits. ViryaNet’s products, pre-packaged solutions and people are recognized within the industry as innovative, which in turn enables its customers to be viewed as leaders within their respective industries. ViryaNet has strong partnerships with leading platform and system integration companies that enable it to have a global presence. Headquartered in Westborough, MA, ViryaNet has additional offices in the United States and Israel.
Verisae is a leading provider of SaaS solutions that manage asset and equipment maintenance, energy usage and environmental efficiency and compliance for companies in the grocery, specialty retail, and food service industries. Verisae offers cloud-based solutions that are simple, integrated, mobile, and operate on an open API technology platform – The Connected Facility. Verisae currently has a network of more than 150,000 registered users managing in excess of three million assets at more than 50,000 sites in North America, Europe, and Asia. For more information, please visit www.verisae.com.
Any statements contained in this communication that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are predictive in nature, which depend upon or refer to future events or conditions, which include words such as “believes,” “plans,” “anticipates,” “estimates,” “expects,” “intends,” “seeks” or similar expressions. Forward-looking statements are based on current expectations about future events and are subject to risks, uncertainties and assumptions. Factors that could cause actual future results to differ materially from current expectations include, but are not limited to, the possibility that the transaction may not close on schedule or at all; the risk of competing offers; and the possibility that various closing conditions for the transaction may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the transaction. You should not place undue reliance on forward-looking statements, which are based on current expectations, since, while Verisae believes the assumptions on which the forward-looking statements are based are reasonable, there can be no assurance that these forward-looking statements will prove accurate. All forward-looking statements included in this communication are made as of the date hereof and, unless otherwise required by applicable law, Verisae undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
In connection with the proposed transaction, ViryaNet intends to mail a proxy statement to its shareholders and furnish a copy of the proxy statement with the SEC on Form 6-K. Shareholders of ViryaNet are urged to read the proxy statement and the other relevant material when they become available because they will contain important information about ViryaNet, the proposed transaction and related matters. Shareholders are urged to carefully read the proxy statement and other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction. The proxy statement (when available) may be obtained for free at the SEC's website at www.sec.gov. In addition, the proxy statement will be available, without charge, at ViryaNet’s website at www.viryanet.com. This press release is neither a solicitation of proxy, an offer to purchase nor a solicitation of an offer to sell shares of ViryaNet. Additional information regarding the interests of participants in the solicitation of proxies in connection with the proposed transaction will be included in the proxy statement that ViryaNet intends to furnish to the SEC on Form 6-K.
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Feb. 26, 2017 11:15 PM EST Reads: 8,737
SYS-CON Media announced today that @WebRTCSummit Blog, the largest WebRTC resource in the world, has been launched. @WebRTCSummit Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. @WebRTCSummit Blog can be bookmarked ▸ Here @WebRTCSummit conference site can be bookmarked ▸ Here
Feb. 26, 2017 10:00 PM EST Reads: 13,678
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Feb. 26, 2017 09:15 PM EST Reads: 2,412
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Feb. 26, 2017 09:00 PM EST Reads: 8,970
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Feb. 26, 2017 08:45 PM EST Reads: 1,999
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Feb. 26, 2017 08:45 PM EST Reads: 5,151
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Feb. 26, 2017 08:30 PM EST Reads: 7,175
SYS-CON Events announced today that Hitrons Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
Feb. 26, 2017 08:30 PM EST Reads: 705
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Feb. 26, 2017 07:45 PM EST Reads: 2,068
In his session at 20th Cloud Expo, Chris Carter, CEO of Approyo, will discuss the basic set up and solution for an SAP solution in the cloud and what it means to the viability of your company. Chris Carter is CEO of Approyo. He works with business around the globe, to assist them in their journey to the usage of Big Data in the forms of Hadoop (Cloudera and Hortonwork's) and SAP HANA. At Approyo, we support firms who are looking for knowledge to grow through current business process, where even ...
Feb. 26, 2017 07:30 PM EST Reads: 1,159
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Feb. 26, 2017 06:45 PM EST Reads: 2,368
Addteq is one of the top 10 Platinum Atlassian Experts who specialize in DevOps, custom and continuous integration, automation, plugin development, and consulting for midsize and global firms. Addteq firmly believes that automation is essential for successful software releases. Addteq centers its products and services around this fundamentally unique approach to delivering complete software release management solutions. With a combination of Addteq's services and our extensive list of partners,...
Feb. 26, 2017 06:00 PM EST Reads: 953
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
Feb. 26, 2017 05:30 PM EST Reads: 2,186
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
Feb. 26, 2017 05:30 PM EST Reads: 2,004
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Feb. 26, 2017 05:15 PM EST Reads: 1,923