Latest news with #MarkGardner
Business Recorder
26-06-2025
- Business
- Business Recorder
Tech stocks drag Aussie shares lower as markets assess Xero's Melio deal
Australian shares slipped on Thursday, pulled down by tech stocks as IT major Xero dropped after announcing a deal to acquire U.S.-Israeli payments provider Melio Payments and a discounted share placement to fund it. The S&P/ASX 200 index lost 0.1% to 8,553.30 points by 0104 GMT. The benchmark had ended largely unchanged on Wednesday. Technology stocks on the local bourse dropped 2.7%, led by a 7% decline in accounting software major Xero when it resumed trade on Thursday, a day after announcing it would buy Melio for as much as $3 billion. The company with A$30 billion ($19.57 billion) market capitalisation asked institutional investors for A$1.85 billion to help pay for the purchase, with the placement representing a 9.4% discount to Tuesday's close. Xero went on a trading halt before markets opened on Wednesday, pending the announcement of a 'corporate transaction and an associated equity raising'. The deal was announced soon after. Analysts have given the deal a cautious endorsement. 'Xero's acquisition of Melio… comes with short-term earnings dilution, integration risks and heightened exposure to a competitive and evolving U.S. fintech landscape,' said Mark Gardner, CEO and Head of Equities Advisory at MPC Markets. Australian shares flat as banks offset mining drag; inflation data eyed Jefferies reduced its target price for Xero to A$176.90 from A$194.80, citing that Melio would still be '-12% dilutive to earnings on a per-share basis in FY28'. Bucking the trend, miners gained 0.3% as copper prices rose, supported by a tentative ceasefire between Iran and Israel. BHP and Rio Tinto added 0.4% and 0.2%, respectively. In company news, Australia's securities regulator appointed former central bank deputy governor Guy Debelle to an expert panel to investigate ASX's governance, capability and risk management frameworks. However, the bourse operator's stock rose 0.3%. New Zealand's benchmark S&P/NZX 50 index fell 0.2% to 12,432.41 points.
CNA
25-06-2025
- Business
- CNA
NZ-based Xero to fork out over $2.5 billion for Melio in big US fintech bet
New Zealand's information technology giant Xero said on Wednesday it would buy U.S.-headquartered fintech firm Melio for an upfront consideration of $2.5 billion, aiming to more than double its group revenue by 2028. The cash-and-stock deal would also see Melio receive up to $500 million in deferrals and rollovers, laid out over the next three years. The payment is largely tied to Melio meeting specific performance targets, with the rest dependent on time-based milestones and annual goals. Fintech companies are revolutionizing financial management with user-friendly solutions, attracting billions in investment. The recent rise of digital bank Chime and Israeli trading platform eToro underscores the growing demand for the industry. The acquisition will "significantly boost" Xero's top line, as the firm expects the combined business to more than double its group revenue in 2028, compared with fiscal 2025. The acquisition will also accelerate Wellington-headquartered Xero's U.S. revenue growth and integrate accounting and payment solutions on a single platform, enhancing services for its 4.4 million subscribers. "While Xero's acquisition of Melio is a high-conviction, long-term strategic play to supercharge its U.S. growth, it comes exposure to a competitive and evolving U.S. fintech landscape," said Mark Gardner, CEO and head of equities advisory at MPC Markets. Melio, which has offices in New York and Tel Aviv, provides digital bill payment solutions for small businesses. "Xero and Melio are highly complementary... together they complete the key jobs to be done... provide both direct and syndicated offerings, and deliver multiple revenue drivers," Xero CEO Sukhinder Singh Cassidy said in a statement. The deal will be funded through a placement to raise $1.2 billion and a $400 million unsecured credit facility, among others. Shares of Xero had gone on a trading halt earlier in the day.
Broadcast Pro
16-06-2025
- Business
- Broadcast Pro
Grass Valley scales up with software and IP workflows
With a growing footprint across the Middle East, Grass Valley is navigating the challenges and opportunities of a broadcast market in transition. In an exclusive interview with BroadcastPro ME, GV's VP of Sales for EMEA, Mark Gardner, discusses how evolving needs in the Middle East are shaping the company's regional strategy. What kind of momentum are you seeing for Grass Valley across the Middle East? We're continuing to see strong growth in our traditional products such as cameras, switchers and IP solutions. However, what's especially exciting is the growth in our software offerings. At last year's CABSAT, we announced a new partnership with Arabsat to provide our cloud playout software, Playout X, as a managed service. This year Arabsat showcased it at their booth, and we're thrilled to welcome new customers to the platform through this partnership. We're also seeing increasing interest in remote production for sports coverage. Technologies we've been successfully deploying in mainland Europe, particularly in the Netherlands and the UK, are now beginning to gain traction in the Middle East. Can you share any customer use cases in the region? We worked closely with NEP on their new IP trucks for the Middle East, supplying cameras and switchers, which were showcased at CABSAT. This collaboration also included our new shallow-depth-of-field camera, the LDX 180, a single large-sensor model that delivers a cinematic look for sports. Although the camera's official release is scheduled for IBC, NEP provided a regional sneak preview. This highlights the strength of our partnership. What stands out is how this technology allows broadcasters to achieve cinematic storytelling without added operational complexity. NEP was able to connect the camera to their system just like any other, integrating it into their existing live workflow. The result is the ability to tell more creative stories while maintaining a streamlined and more efficient production process. You've been discussing AMPP for some time. Has that translated into real-world applications? It's more than a POC now. For example, AMPP is being used across all Saudi Pro League games. They are using it for ingest and then using FrameLight X, our production asset management system, for highlight cuts. This relationship continues to grow, and we are helping them explore additional ways to use AMPP, particularly in cloud and remote production workflows. Given the breadth of your portfolio, where are you seeing the most traction? Last year we saw significant growth in cameras and switchers, but one of our key areas of focus is software products. Playout for example is an area where we see strong potential in the region. We're currently working with several customers on tests and proof-of-concept projects for both on-premises and cloud deployments. One of the strengths of our product line is its flexibility. You can deploy on-premises using COTS servers or in cloud environments such as AWS, Google Cloud, Oracle Cloud, Alibaba or whichever platform best suits your business needs. What overarching message did you bring to CABSAT this year? It's the Grass Valley Media Universe, bringing all of our existing hardware products into the AMPP ecosystem. It's a true platform approach, with the entire product range connected. We're also making sure customers understand that it's an open ecosystem. Third-party vendors are encouraged to join the system and benefit from the platform approach. In addition, we've been working on the Media Exchange Layer (MXL). This is an EBU initiative, and Grass Valley has been a strong supporter. It enables the exchange of video and audio flows on a CPU-based platform. We expect to make the SDK available to customers in the coming months, giving them confidence that the platforms will remain open and that interoperability is built in. What are the biggest challenges right now from a sales standpoint? The breadth of our portfolio is always a challenge. We're selling software products, solutions that can be deployed on-premises or in cloud environments, and more traditional hardware products. We offer a lot of choice to customers, and while they benefit from that flexibility, they also want a clear understanding of where things are headed. Cloud may be ideal for one customer, while another may benefit more from an on-premises deployment. For example, we spoke with a few customers in Saudi Arabia who feel that connectivity charges are still too high, making cloud less viable for them at the moment. In other parts of the region, however, customers may see the benefits of cloud and be ready to adopt it. We're working to tailor our message to each individual market. It's a mistake to treat the Gulf as a single homogenous market. Each country is unique, with its own specific needs and conditions. Where will Grass Valley focus its efforts next? Interoperability remains a top priority for us. We are actively involved in initiatives like the Media Exchange Layer (MXL) and are accelerating our efforts in this area. Our goal is to ensure that customers can seamlessly integrate our solutions with other software environments. We understand that customers make long-term investments and need confidence that their systems will stay flexible and future-proof. By supporting open standards and speeding up development in areas like MXL, we are helping customers achieve the security and adaptability they need.
Yahoo
19-05-2025
- Business
- Yahoo
AEM Expands Access to Production-Proven SLT and Burn-In Ecosystem for Advanced Computing Customers
Collaboration with Intel Foundry opens access to a proven SLT and Burn-In test ecosystem and test engineering, accelerating time-to-market for fabless customers SINGAPORE, May 20, 2025 (GLOBE NEWSWIRE) -- AEM Holdings Ltd. (SGX: AWX, Reuters: Bloomberg: AEM:SP) today announced it is working with Intel Foundry to expand access to their established System-Level Test (SLT) and Burn-In capabilities, tailored for advanced computing devices, to Intel Foundry's customer base. Built on decades of collaboration, AEM and Intel Foundry have developed one of the most extensive and mature SLT and Burn-In ecosystems. As chips grow in complexity, particularly in high-performance computing (HPC) and artificial intelligence (AI) applications, the need for Burn-In and SLT test solutions has become more critical than ever, to ensure test coverage while reducing the total cost of test. Conducted after the advanced package assembly process, Burn-in and SLT tests ensure chips meet reliability and performance standards in real-world environments — a crucial step to reduce field failures and improve product quality. The partnership between AEM and Intel Foundry offers a proven solution and strategic roadmap, delivering precise thermal control and validation capabilities for next-generation devices, with specifications including power exceeding 2,000 watts and support for package sizes surpassing 200mm x 200mm. Through this collaboration, AEM brings device-specific configurable test units, advanced handlers and consumables, PiXL™ Active Thermal Control (ATC), along with software and application support for customer native boards — delivering a fully integrated approach to SLT and Burn-In enablement. This complements Intel Foundry's comprehensive suite of services, including factory automation, adaptive test data management, turnkey Burn-In Board (BIB) solutions, test program development, customer board integration, and full product debug and execution support. Key customer benefits include: Faster Time-to-Market: Built on a scalable, production-proven platform used across high-volume fabs. Supported by AEM and Intel Foundry global engineers on hardware integration, test consumable designs, software development, and test application engineers. Lower Capital Expenditure: Minimal new infrastructure required, leveraging an established install base of thousands of systems worldwide. U.S.-based Engineering and Production Ecosystem: Local teams from both companies enable rapid deployment and support standards-based qualification, including High Temperature Operating Life (HTOL). "With chiplet-based architectures redefining integration and performance expectations, our open SLT and Burn-In ecosystem—developed with AEM—provides semiconductor manufacturers with a fast, scalable path to high-quality production. This collaboration enhances test coverage, accelerates time-to-market, and ensures the reliability required for AI and HPC applications," said Mark Gardner, Vice President, Intel Foundry Services, Package and Test Business Group. 'As performance demands rise and chiplet integration becomes the new norm, manufacturers need more than just tools—they need a proven ecosystem. Together with Intel Foundry, we're enabling customers to reduce capital costs, accelerate qualification, and benefit from deep engineering collaboration that drives product success,' said Amy Leong, CEO of AEM Holdings Ltd. About AEM Holdings Ltd. AEM is a global leader in test innovation. We provide the most comprehensive semiconductor and electronics test solutions based on the best-in-class technologies, processes, and customer support. AEM has a global presence across Asia, Europe, and the United States. With manufacturing plants located in Singapore, Malaysia (Penang), Indonesia (Batam), Vietnam, and Finland (Lieto), South Korea, and the United States (Tempe) and a global network of engineering support, sales offices, associates, and distributors, we offer our customers a robust and resilient ecosystem of test innovation and support. AEM Holdings Ltd. is listed on the main board of the Singapore Exchange (SGX: AWX, Reuters: Bloomberg: AEM:SP). AEM's head office is in Singapore. Safe Harbour StatementThis document contains forward-looking statements, including but not limited to, statements regarding AEM Holdings Ltd.'s collaboration with Intel Foundry, the capabilities and benefits of the System-Level Test (SLT) and Burn-In ecosystem, and expected outcomes for customers. These forward-looking statements are based on current expectations, projections, and assumptions about future events and are subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those expressed or implied in such statements. Factors that could cause actual outcomes to differ materially include, but are not limited to, changes in market conditions, technological advancements, competitive pressures, and regulatory changes. AEM Holdings Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law. Media Contacts AEM Holdings Ltd. Name: Lisa Schwartz, Director of Marketing Email Office Phone 1.480.566.6605
Yahoo
17-03-2025
- Yahoo
Atlanta officers can't sue former city officials who fired them for Tasing students
A federal appeals court has ruled that three Atlanta police officers who were fired and later reinstated cannot sue former city officials. Mark Gardner, Lonnie Hood and Ivory Streeter were fired after two students were pulled from their car and Tased during the May 2020 protests in downtown Atlanta. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] Former Atlanta Police Chief Erika Shields and former Mayor Keisha Lance Bottoms said a video showed a clear use of excessive force. Former Fulton County District Attorney Paul Howard also filed charges, which were later dropped. The Atlanta Civil Service Board later ruled that the officers' jobs should be reinstated, saying the city didn't follow its termination policy and denied the officers due process. The group tried to sue Shields, Bottoms, Howard and the Fulton County government, but a district court dismissed the lawsuit. The appeals court backed up their ruling. 'The district court dismissed each claim, finding that the officers had not plausibly established a cause of action against any of the defendants. After careful review and with the benefit of oral argument, we agree that the officers cannot plausibly support a viable claim for relief and affirm the district court's dismissal of the second amended complaint.' Read the ruling below. Officers appeal denied by WSB-TV Assignment Desk on Scribd RELATED STORIES Officers fired for tasing college students had just finished de-escalation training, records show 2 APD officers fired after video shows them using 'excessive force' on 2 college students during protests Charges dismissed against officers who Tased college students pulled over in car Students Tased by Atlanta police last summer filing lawsuit against city, mayor, several officers [SIGN UP: WSB-TV Daily Headlines Newsletter]
