Raiders DC Paul Guenther hopes to remedy his Steelers nightmares

first_imgALAMEDA — For four years Paul Guenther called plays intended to stop Ben Roethlisberger.As Bengals defensive coordinator from 2014-17, Guenther faced a Roethlisberger-led Steelers team nine times. Roethlisberger won eight, plastering 25.6 points per game on Guenther’s defenses.Big Ben, who’s actually 0-3 in his career at the Oakland Coliseum, leads the NFL with 3,945 passing yards through 13 weeks. Steelers starting running back James Conner won’t play Sunday in Oakland, but Roethlisberger …last_img read more

The New Yahoo Connection to Linux

first_imgRelated Posts A Web Developer’s New Best Friend is the AI Wai… Tags:#cloud#news Yahoo is making a deeper commitment to open source software with the announcement this week that it has joined the Linux Foundation.The Linux Foundation is dedicated to the advancement of Linux. For Yahoo, the decision to join is about its continued investment in Linux, virtualization and file systems technologiesApache Hadoop is a file systems technology. And Yahoo was one of its early users and funders. This is not to say that Hadoop will be the focus of its collaboration, but Hadoop is primarily designed for Linux environments.We asked Yahoo about the technology the company plans to focus on with the Linux Foundation. It was noncommittal and did not refer to Hadoop at all. It only said it would be working on virtualization and a variety of technologies. But Hadoop is important to Yahoo, as it is to other companies that need distributed data storage.Yahoo started using Hadoop in its labs. Today, it is used for a variety of purposes. Here’s a bit from a post I wrote last year:Yahoo! started using Hadoop initially in 2006 as a science project to process and analyze massive data sets. They developed a prototype on 20 nodes. Today, Yahoo! manages more than 25,000 nodes for data processing and analytics.Yahoo! found that product development could be done in a fraction of the time. They found they could just throw machines at a project to do the processing. What once took 29 days could be accomplished in less than one.As a result, Yahoo! began integrating Hadoop for all parts of its business. The company offloaded storage from the IT department and put the data in a cluster.Today, Yahoo uses Hadoop for determining best advertising placement and for content optimization. For example, the company started testing how the optimization worked on the home page by serving up content relevant to the user. It worked. Yahoo! saw a 150 percent increase in user engagement measurements.In the story, Yahoo executives told me they will use Hadoop to continue working on data center latency, a problem that has emerged with the scaling of servers in a data center environment. What is the other issue that comes with scaling? The management of thousands of virtual machines, which helps us understand Yahoo’s interest in virtualization.In a video from the Linux Foundation Collaboration Summit, Sven Dummer, Yahoo Director of Linux Engineering, said that Yahoo’s infrastructure is on Linux to serve the 640 million users that use the site every day. He said Yahoo has 11 billion page views per month and serves 200 petabytes of data per day. He said Yahoo is one of the largest data center providers in the world. Yahoo will contribute in several ways to the Linux Foundation. It will participate in the working groups and initiatives focused on virtualization, cloud computing and legal topics, such as open compliance.We expect that Hadoop will be a part of its focus, too. Top Reasons to Go With Managed WordPress Hostingcenter_img alex williams 8 Best WordPress Hosting Solutions on the Market Why Tech Companies Need Simpler Terms of Servic…last_img read more

100% Bonus Depreciation Acquisition Rules for Constructed Property and Components

first_imgtreat property constructed fora taxpayer under a binding contract as self-constructed, and allow taxpayers to claim 100%bonus on components acquired after September 27, 2017, even if the larger constructedproperty is acquired before September 28, 2017. Similarly, a “self-constructed” componentconsidered acquired before September 28, 2017 under the significant physicalwork test or 10% safe harbor does not qualify for bonus depreciation at the 100percent rate (Reg.§1.168(k)-2(b)(5)(iv)(C)(2)). Significantly, the rules: If the larger property is acquired beforeSeptember 28, 2017, a taxpayer may elect 100% bonus depreciation on componentsof the property that are acquired after September 27, 2017. A  taxpayer makes the election by attaching astatement to the income tax return in the year the larger property is placed inservice. If the election does not apply to all qualifying components acquiredafter September 27, 2017, the statement must identify the components that arecovered by the election (ProposedReg. §1.168(k)-2(c)). 10% Safe Harbor For additional information on the acquisitiondate rules for constructed property see the CCH Answer Connect Topic Pages entitled: Login to read more on CCHAnswerConnect. COMMENT: The 10% safe harbor election isespecially useful in delaying the acquisition date for an accrual basistaxpayer. The cost of property constructed for a taxpayer is generally notincurred until the property is delivered to the taxpayer upon completion of theproject in the case of a turnkey contract (IRSLetter Ruling 201210004, November 22, 2011). Manyconstruction contracts are not turnkey but rather “design-bid-build” methodcontracts. Depending upon the terms of the contract, amounts can be incurred instages (Field AttorneyAdvice 2014020F, January 16, 2014).  It appears that under the “facts andcircumstances” test, construction work on a component built off-site may needto be taken into account in determining whether physical work of a significantnature has begun on the larger structure. The IRS regulations are silent on thispoint except to provide the obvious example  that construction of a retail motor fuelsoutlet assembled from modular units manufactured off site begins when physicalwork of a significant nature begins off-site (Reg.§1.168(k)-2(b)(5)(iv)(B)). The original proposed regulations denied 100%bonus depreciation on all of the components of a larger property acquiredbefore September 28, 2017, regardless of the acquisition date of the components.Consequently, no portion of the cost of the larger property could qualify forthe 100% rate. This means that the acquisition date ofthird-party construction is also determined by reference to the dateconstruction begins under the significant physical activity test or under the 10%safe harbor.  Both of these testssignificantly delay the acquisition date beyond the contract date, making iteasier to qualify for 100% bonus depreciation. Planning or designingSecuring financingExploring or researchingClearing a siteTest drilling to determine soilconditionExcavation to change thecontour of land Election for Components Acquired After September 27, 2017 Property constructed for a taxpayer by athird party is almost always constructed under a binding written contract.Regulations originally proposed by the IRS provided that the 100% bonus ratedid not apply to third-party construction if a binding written contract wasentered into before September 28, 2017. This exclusion for acquired and self-constructedcomponents considered acquired before September 28, 2017, applies even if thelarger self-constructed property is considered acquired after September 27,2017. The cost of an “acquired” component of a self-constructedproperty (including property constructed for the taxpayer under a contract andconsidered self-constructed) does not qualify for the 100% bonus depreciationrate if it is acquired under a written binding contract entered into beforeSeptember 28, 2017 (Reg.§1.168(k)-2(b)(5)(iv)(C)(1)). Property Constructed for the Taxpayercenter_img New final and proposed regulations explainhow to determine the acquisition date of constructed property that can qualifyfor 100% bonus depreciation (Reg.§1.168(k)-2(b)(5); ProposedReg. §1.168(k)-2(c)).Property constructed by or for a taxpayer qualifies for 100% bonus depreciationonly if it is: Property Constructed by the Taxpayer Special Rules for Components of Self-Constructed Property For example, the turbine constructed forthe taxpayer in the preceding example does not qualify for 100 percent bonusdepreciation because it was acquired before September 28, 2017, under both thephysical work of a significant nature and 10% safe harbors. The turbine isconsidered self-constructed because it was acquired under a written bindingcontract entered into before construction began. EXAMPLE: ABC, an accrual basis steelmanufacturer, enters into a binding contract in October 2016 for theconstruction of a turbine that will be part of a self-constructed powergeneration plant. ABC incurs the cost for the turbine when it is delivered inAugust 2017. ABC is treated as acquiring the plant before September 28, 2017,if the safe harbor is elected and the cost of the turbine plus any other costsincurred toward construction before September 28, 2017 is more than 10% of thetotal cost of the plant  (ProposedReg. §1.168(k)-2(c)(7)(ii)), Example 2). Accounting for Deductions Under the Accrual Method Many comment letters asked the IRS to changethis rule and create an exception similar to the one previously provided in Rev.Rul. 2011-26 for the 100% bonus rate that applied to propertyacquired after September 8, 2010, and before January 1, 2012.The IRS agreed to these requests. This rule, however, was abandoned in finalregulations.  Instead, propertyconstructed for a taxpayer under a binding written contract entered into beforethe beginning of construction is considered self-constructed (Reg.§1.168(k)-2(b)(5)(ii)(A)). Under an elective safe harbor, constructionbegins on the date that more than 10% of the total cost of construction is paidfor by a cash basis taxpayer or incurred by an accrual basis taxpayer (Reg.§1.168(k)-2(b)(5)(iv)(B)). The cost of preliminary activities land does notcount toward the 10% safe harbor. Bonus Depreciation or First-Year Additional Depreciation Allowance acquired after September 27,2017, and placed in service before 2023 (orbefore 2024 for “long production property”).  Property constructed by a taxpayer for itsown use is acquired on the date that construction begins. Construction generallybegins on the date that physical work of a significant nature begins. This is afacts and circumstances test. By Ray G. Suelzer, J.D., LL.M. Preliminary activities are not taken intoaccount. Examples of preliminary activities include: Not a subscriber? Sign up for a free trial or contact us for a representative.last_img read more

Tom Herman’s Wife Sets Twitter On Fire After Peach Bowl Win

first_imgTexas head coach tom herman watches during the sugar bowlNEW ORLEANS, LOUISIANA – JANUARY 01: Head coach Tom Herman of the Texas Longhorns looks on during the second half of the Allstate Sugar Bowl against the Georgia Bulldogs at the Mercedes-Benz Superdome on January 01, 2019 in New Orleans, Louisiana. (Photo by Jonathan Bachman/Getty Images)Houston coach Tom Herman may be the hottest coaching commodity in the country after leading the Cougars to an upset victory over Florida State in the Peach Bowl on Thursday, but his wife Michelle might have attracted her own set of suitors after the contest. Michelle Herman’s Twitter mentions skyrocketed after she was shown live on ESPN.There are thousands of tweets – you can guess why.Mrs. Tom Herman pic.twitter.com/Pbm7G1dwCL— Busted Coverage (@bustedcoverage) December 31, 2015If Tom Herman’s wife cheated on me I would apologize to her pic.twitter.com/Ilk2BoL5w1— BMOC (@TailgateC9) December 31, 2015Tom Herman’s wife is proof he can recruit. Hubba hubba— Brandon #GoBucks (@fierybuckeye) December 31, 2015Y’all see Tom Herman’s wife? Lawd have mercy— Max Thompson (@itsmaxthompson) December 31, 2015Did @UHouston name their mascot after Head Coach Tom Herman’s wife? Daaang!!! #Cougars @ESPNCFB— Kacey Brown (@KaceBrown) December 31, 2015Tom Herman’s wife….straight up hottie.— Matt (@gatriguy) December 31, 2015Tom Herman’s wife. It’s fair to say the man is winning both on and off the field.— Donny (@DonnyTello50) December 31, 2015Lol Tom Herman’s wife finna break twitter. You guys make me laugh.— Chad (@ChadSpringer) December 31, 2015Life isn’t so bad for Tom Herman right now.last_img read more

Press Release Aireon announces key support for new line of business

first_imgAireon today announced that Jonathan Astill, from NATS, has been tapped for strategic support and expertise to develop the new Air Traffic Flow Management (ATFM) Services line of business for Aireon.Astill, will act as Vice President and General Manager of ATFM Services and will develop Aireon’s ATFM business line, closely collaborate with introductory customers and establish a channel of partners to ensure a smooth rollout of the company’s offering. Aireon is deploying the world’s first and only global space-based Automatic Dependent Surveillance-Broadcast (ADS-B) aircraft surveillance and tracking service, providing real-time aircraft visibility anywhere on the planet.“Jonathan brings deep knowledge and expertise to Aireon at such a crucial moment for our company, as our system nears full operational status,” said Don Thoma, CEO, Aireon. “His extensive experience, working across multiple facets of the aviation industry, offers a unique perspective for this new line of business. We are thrilled that he will be working with our team.”Prior to taking on this new role, Astill served as Director of Alliances, Airline and International Affairs for NATS, the United Kingdom’s leading Air Navigation Service Provider, where he was responsible for NATS’ global engagement across the aviation industry. His career with NATS spans 30 years, with the first 10 years of his career as an operational Air Traffic Controller.In the Aireon role, Astill will be responsible for all aspects of Aireon’s ATFM services, leading technical support, business strategy, operations, business development and service rollout.“I am excited to assist the impressive Aireon team and help usher in this next era of global air traffic surveillance,” said Astill. “When I was in my previous position at NATS, Iworked with Aireon very closely on the deployment of their service in the UK and truly believe what Aireon is doing will change air traffic management and the aviation industry as a whole. I am honored to be working with Aireon at such an important time and look forward to getting started on their new business line.”On January 11, 2019, the final Iridium NEXT launch successfully took place from SpaceX’s west coast launch facility at Vandenberg Air Force Base in California. Each Iridium NEXT satellite hosts an AireonSM ADS-B payload. On February 6, 2019, Aireon formally took control of the final six payloads from Iridium Communications. With the final launch and payload handoff complete, Aireon is set to go live with its air traffic surveillance service in early Spring 2019.About Aireon LLCAireon is deploying a space-based air traffic surveillance system for Automatic Dependent Surveillance-Broadcast (ADS-B) equipped aircraft throughout the entire globe. Aireon will harness next-generation aviation surveillance technologies that are currently ground-based and, for the first time ever, extend their reach globally to significantly improve efficiency, enhance safety, reduce emissions and provide cost savings benefits to all stakeholders. Real-time ADS-B surveillance will cover oceanic, polar and remote regions, as well as augment existing ground-based systems that are limited to terrestrial airspace. In partnership with leading ANSPs from around the world, like NAV CANADA, the Irish Aviation Authority (IAA), Enav, NATS and Naviair, as well as Iridium Communications, Aireon will provide a global, real-time, space-based air traffic surveillance system to all aviation stakeholders.last_img read more

Press Release Passenger Experience Week prepares for lift off

first_imgThe global travel and tourism industry is one of the most dynamic economic powerhouses on the planet. It not only creates jobs, but connects businesses to markets, drives exports, is a catalyst for prosperity and generally helps people enjoy better lives worldwide. The World Travel and Tourism Council (WTTC) estimates that the sector accounts for 10.4% of global GDP and 313 million jobs, making it one of the largest contributors economically in the world. The connectivity provided by international air and rail transport is one of the key factors in facilitating its growth.It is estimated that over half of international tourists travel by air, meaning aviation plays a crucial role in supporting one of the globe’s most important economic sectors. And according to the International Air Transport Association (IATA), it contributes an enormous €2.3 trillion with more than 120,000 flights taking off daily – transporting more than 10 million passengers worldwide.It’s clear that the aviation sector is thriving, and the global rail market is also in a period of growth according to the 2018 Worldwide Market for Railway Industries Study. Since 2016, its value has grown from €169 billion to €183 billion, with the rate outstripping forecasted growth of 2.3% two years ago, to 2.8%.This strong growth has resulted in changes across the air and rail sectors with a greater focus on improving customer satisfaction levels through innovations in onboard service and environments. For example, a new raft of commercial aircraft models from leading manufacturers Airbus and Boeing has forced airlines to refine the offering they provide to passengers, while developments in onboard catering and cutting-edge technology are attracting passengers to travel operators that have a modern and unique approach to travel. The key to sustaining this success lies in being aware of – and acting on – key trends without being outmaneuvered by competitors.The spotlight is on passenger experienceThis year’s Passenger Experience Week, taking place in Hamburg from 1-4 April 2019, brings together four leading events that aim to provide ideas, inspiration and solutions for air, rail and cruise buyers looking to improve the experience they offer to their passengers. Comprising Aircraft Interiors Expo (AIX), World Travel Catering & Onboard Services Expo (WTCE); Passenger Technology Solutions (PTS); and the Passenger Experience Conference (PEC), the series of events will showcase the latest cabin interiors, in-flight entertainment and connectivity, passenger comfort, catering, retail offerings and technology software that will ultimately transform the experience passengers receive on a plane, train, coach or cruise ship.Over 950 exhibitors will be on hand throughout the week to showcase their innovations to 18,000 attending industry professionals. Of these, more than 2,000 will be VIP guests – leading decision makers representing the world’s major air and rail operators – looking to find those unique, new-to-market products that will set their business apart from the rest. Face-to-face buying, selling and networking will dominate proceedings across the Hamburg Messe throughout the week.Learning from industry visionariesMarking the start of Passenger Experience Week 2019, the Passenger Experience Conference (PEC) will bring together thought leaders from across the global aviation, rail and cruise sectors, who will share new ideas and discuss the next steps in the evolution of the passenger experience from onboard environments to services.Delegates joining this year’s conference on 1 April will be able to hear speakers from Airbus; Seymourpowell; Diehl Aviation; Panasonic Avionics Corporation; Collins Aerospace; and Passenger Experience Week supporting organisation, International Air Transport Association (IATA).Opening the conference, Joe Leader, Chief Executive Officer of the Airline Passenger Experience Association (APEX) and International Flight Services Association (IFSA), will provide the inside track on the strategies that will deliver more competitive cabins. He will offer insight on how to deliver greater value for passengers and improve revenue for airlines; the transformative approaches to making the journey better; and how to integrate new technologies and tools every step of the way.Following the day’s keynote sessions, three breakout streams will focus the discussion on key trends shaping the future of the industry – The Competitive Cabin, Digital: The New Reality, and Revitalising the Journey.The Competitive Cabin stream will help delegates understand how suppliers are innovating products and services to deliver a better passenger experience and increase revenue. The session will explain the importance of technology collaborations in creating innovative interiors solutions that enhance the journey of all travellers – including those with mobility, visual or hearing impairments.With a digital revolution underway in the travel sectors, Digital: The New Reality will explore the importance of integrating technology across the entire journey to create a seamless and connected environment. Speakers will explore the role of automated and digital/mobile self-service; how biometric technologies are opening up opportunities through airports and on aircraft; and how the food and retail experience onboard can be digitalised to improve engagement and passenger enjoyment.In the final stream, Revitalising the Journey, speakers will address how new sensory technologies can help passengers navigate their journeys. From sensory touchpoints – sonic branding, voice technologies, haptic feedback – to augmented and virtual reality, delegates will learn more about the opportunities to improve experiences, while tackling new challenges in cabin design. Sessions will encourage delegates to rethink both the physical and onboard experience, from understanding how biometric technologies, such as facial recognition, are transforming passenger experiences in a world of self-service; to the opportunities to deliver outstanding personalisation, helping passengers to arrive at their destinations feeling relaxed and refreshed.20 years of cabin innovationWith the global aviation industry going from strength to strength, it’s no surprise that the airline interiors industry is also booming. The market for aircraft interiors is predicted to hit €13.9 billion by 2020 according to market research by Industry Arc, thanks to a dramatic surge in air travel and the accompanying upturn in passenger expectations as a result.For two decades, AIX has played a pivotal role in helping the world’s premier airlines source the latest cabin innovations, technologies, inflight entertainment and connectivity solutions that have transformed their offerings and helped turn them into the leading global players they are today. The 2019 instalment sees the exhibition reach its 20th anniversary with a celebration of the cutting-edge innovation that is continually propelling the industry forward.More than 500 businesses – including industry players both, large and small – will showcase their latest products and services aimed at enhancing the cabin, in-flight entertainment and connectivity onboard. These include materials suppliers such as Zotefoams, a world leader in cellular materials technology, which is confirmed to showcase its ZOTEK F foam. The material is manufactured from specialist PVDF engineering polymers to meet the exacting standards of aviation manufacturers. Helping to improve inflight hygiene, Mankiewicz will present its second-generation interior paint featuring antimicrobial effective additives. Its ALEXIT PureGuard paint contains special chemicals that hinder the spread of mould and unpleasant odours, helping to reduce the microbes and bacteria which accumulate over the course of a flight.And, with the industry’s leading seat manufacturers present, attendees will be able to discover the latest seat configurations from Safran SA; Recaro Aircraft Seating GmbH & Co. KG; STELIA Aerospace; and Adient Aerospace, which will showcase its Ascent Business Class at the show. Molon Labe Seating will also join the line-up, revealing the launch customer for its S1 staggered short-range economy class seat.Visitors can also explore mock-ups of the new Boeing 777X – the largest and most efficient twin-engine jet in the world. The cabin interior, which will be on display at AIX 2019, is inspired by the comforts and conveniences of the 787 Dreamliner, with larger windows, a wider cabin, new lighting and enhanced architecture – all of which will be custom-tailored for a unique in-flight passenger experience.  The 777X is one of many topics explored by Boeing’s Blake Emery and PJ Wilcynski on the newly launched PAX Week Views podcast. The podcast brings together a host of leading industry experts from across the aviation, rail and cruise sectors to share their thoughts on the future of the passenger experience industry. It is now available to download or stream via iTunes or Spotify here: http://bit.ly/2BopFfhAirline buyers looking for suppliers to support Maintenance, Retail and Overhaul (MRO) operations, will find a host of businesses that will be demonstrating the importance of cabin refurbishment services. Exhibitors, including Delta TechOps, Etihad Airways Engineering and Air France Industries KLM Engineering & Maintenance, will explain how they deliver the highest quality interior maintenance and refurbishment of seating, monuments – comprising galley, lavatory, closets, overhead bins and sidewall panels – IFEC solutions and unit load devices (ULDs).What’s on at AIXIn addition to the smorgasbord of innovations on display on the show floor, there will be a whole area dedicated to the very latest developments in inflight entertainment technology. According to IATA’s 2018 Global Passenger Survey, people now prefer to watch digital content on a seatback device (54%) rather than a personal device (36%).This technology and more will be presented in The IFEC Zone, which aims to keep visitors abreast of the latest developments in inflight technology solutions. It will feature everything from servers and OTT systems to 5G and VR, with more than 100 leading providers of state-of-the-art entertainment and communications solutions on display, including AirFi BV, Astronics, Panasonic, SITA OnAir, Thales and Kontron.Demonstrating how cinematic Virtual Reality (VR) can transport premium passengers to their own private movie theatres, SkyLights will reveal how operators can set themselves apart from the competition and enable passengers to enjoy the latest releases in 3D, 2D and 180° VR with its AlloSky VR Headset. Bluebox Aviation Systems will highlight the latest innovations in tablet-based and wireless IFE solutions including its Bluebox aIFE – an accessible IFE solution for passengers with sight loss that Virgin Atlantic launched in December 2017; while Gogo, the in-flight internet company, will demonstrate its next-generation satellite technology for global in-flight connectivity: Gogo 2Ku.Meanwhile IFEC technology will, for the second year, be recognised in the Crystal Cabin Awards, enabling visitors to quickly identify the most innovative new launches. Eight categories in total will be awarded, all of which celebrate innovation in the aircraft cabin. Innovations across the eight categories will be on display, with winners announced in the CabinSpace LIVE Seminar Theatre.Held within the theatre, the CabinSpace LIVE Seminar programme, offers a place for attendees to listen and learn from industry leaders, and discover the latest challenges and trends impacting the industry. Curated to help airlines grasp the opportunities and navigate the challenges posed by the ever-evolving air travel industry, this year will feature free-to-attend forecast sessions exploring a wide range of hot topics. The rapid evolution of connectivity, IFEC and tools for engagement; the outlook for the aircraft interiors industry; and IFC trends in Europe, Middle East and Africa (EMEA) will all be covered.Airbus BizLab, a global aerospace accelerator, will also lead a panel discussion on the future of flight, questioning how factors such as demographic and economic growth, tourism trends, oil prices and the development of new and existing routes help shape air transport mobility. With a particular focus on innovation in aircraft interiors, a panel will discuss how global macro trends can change the future of aircraft-based mobility, moderated by Reymound Buckman, Airbus BizLab Campus Leader in Hamburg.As ever, there will be plentiful networking opportunities at AIX, focused particularly on helping to develop strong working business relationships between airlines and suppliers. The Airline Club Lounge, exclusively reserved for members of airlines, bizjets and lessors, is designed to provide a space to escape, relax, work or network away from the show floor.Serving up innovation at WTCEFor the past two decades, AIX has become the global meeting place for airlines to source innovative technologies and solutions to improve the passenger experience. In more recent years, it has been joined by sister exhibition, the World Travel Catering & Onboard Services Expo (WTCE), which has also grown significantly in its own right to become the leading global event for travel catering, onboard retail and passenger comfort.This year’s instalment, which sits alongside AIX at the Hamburg Messe in halls A1-A3, is set to be one of the biggest to date, thanks to continued demand for the very best onboard experience the world’s leading airlines, rail companies and cruise liners can provide.Indeed, according to Global Industry Analysts Inc., the worldwide market for in-flight catering services is projected to reach €15.5 billion by 2020, driven by ever increasing – and demanding – passenger traffic and an abundance of service innovations by airline operators. And with more than five million meals served onboard flights each day, it’s no surprise that businesses are looking for new and innovative ways to improve their onboard offerings and attract new customers.Many airlines are already switching things up when it comes to their catering. Take Emirates for example, which has announced it is building a vertical farm to grow food for its meals with less impact on the environment. Meanwhile, Delta Airlines is trialling a new three-course meal plan served with sparkling wine; Air France has added a new ‘healthy’ meal option to it’s a la carte menu, while conversely, Swiss Air has added new hot cheese fondue to its menu. Whatever the innovation, its clear there is a place in the market for new ideas when it comes to onboard catering, and this year’s WTCE is the place to find them.What’s on at WTCEThe free-to-attend exhibition houses over 350 suppliers of onboard products and services, including more than 180 dedicated to food and drink. These include The Barilla Group, which will showcase its dedicated line of Italian food solutions for foodservice professionals under its most famous and well-loved brands, Barilla and Mulino Bianco. Cuisine Solutions, an industry leader in the expert development and manufacturing of premium, fully cooked foods using the sous-vide method, will also be present, demonstrating its slow-cooking technique that was pioneered and perfected by its Chief Scientist Dr. Bruno Goussault.WTCE will once again present visitors with a host of new products for complimentary in-flight and buy onboard menus from cheeses to chocolates. Companies such as Brazzale Spa, the oldest Italian family business in the dairy and cheese-making industry; Butlers Chocolates, Ireland’s premier family-owned firm dedicated to the craft of exceptional chocolate-making; and Dr. Schär Group, the European leader in gluten-free products, will all present the latest food and beverages suitable for onboard consumption.Visitors can also see products from a broader range of categories including hygiene, transport and logistics, packaging, travel retail, passenger comfort and toys and games, with many launching products that have never been seen before. This year, visitors will have the opportunity to view products from the full spectrum of airline and rail suppliers – large and small – including LSG Group, Matrix, Bayart Innovations, dnata and gategroup, as well as those from more than 100 new exhibitors that have not previously launched into the industry.The New Exhibitor Village gives companies that are new to the industry the opportunity to reveal their services or products to more than 200 international airlines and rail operators. With a dedicated, stand-out area on the show floor, participants will benefit from a unique platform to market their innovations.Companies already signed up to showcase their products in the Village include Belberry Preserves, Belgian-based purveyors of fruit preserves; Chum Fruit Snacks, 100% healthy fruit snacks featuring the simplest purest ingredients; Farmhouse Biscuits, biscuits baked from traditional, old-family recipes; Nature Frais, an agri-food company which specialises in the cutting of fresh vegetables and fruits; and frozen bread producers Novepan.Elsewhere, there will be a selection of designated areas to enable visitors to easily identify products and services that are of interest to them. Giving airtime to brand new products will be the What’s New Onboard showcase that will feature products and innovations launched to the market in the past 12 months or less.The growing Focus on World Travel Retail will return to Hall A4 to showcase products that can help drive revenue opportunities onboard. In the cut-throat travel retail industry, operators need that all-important competitive edge to set their business apart from the rest and win customers. Exhibitors taking part this year include Schäfer Travel Retail GmbH, a supplier with more than 10 years’ experience supplying a wide selection of brands and products to over 60 airlines and 40 airports worldwide; Chateau d’Esclans Whispering Angel, a leading producer of a renowned range of Côtes de Provence rosés; Lemonaid Beverages, fairtrade lemonade made from fresh, organically grown ingredients; MeMento, a blend of distilled aromatic waters filled with the scents of the Mediterranean; and Gebr. Heinemann, one of the top players on the international travel retail market. Visitors will also have an opportunity to sample new products and engage with other attendees at the Gebr. Heinemann networking bar.The Spotlight on Travel Apparel feature, sponsored by Egret Aviation and MODUS, will return to the exhibition’s central entrance to showcase the latest onboard clothing. Operators looking to update their brand or source new uniforms will find plenty of inspiration and ideas in this area. Further examples of the latest uniforms, crew luggage and travel accessories can be found on the show floor, with new companies CREATION & IMAGE Paris, GATE8 Luggage, OX’BRIDGE and Sky Soles joining the exhibition.Also providing visitors with unrivalled inspiration for their air, rail and cruise operations will be this year’s Taste of Travel Theatre. Run in association with Onboard Hospitality magazine, presentations and live demonstrations – delivered by leading consultants, industry experts and award-winning chefs will aim to educate the audience about the future of the sector, encourage them to think about current and upcoming trends and urge them to understand how they can best enhance the passenger experience. Taking place across all three days of the show, the sessions will focus on a diverse range of trends including sustainability, packaging, food waste, pre-ordering and wellbeing.Sustainability in the air is one of the current industry hot topics and will feature prominently in this year’s Taste of Travel programme. Matt Rance of MNH Sustainable Cabin Services will lead this important debate in a session entitled Sustainable Thinking as he examines how suppliers and airlines can work together to provide cradle-to-grave thinking for onboard products.Phil Chadwick, editor of Packaging News magazine, will also chair a debate around the challenges of plastic and sustainability onboard, in a session entitled Less Plastic in the Air. Taking a look at current hot packaging innovations, a further session entitled Best Sustainable Packaging will invite five exhibitors to give a quick-fire pitch to three expert judges on how their solutions are the most environmentally friendly.Wellbeing is another hot topic that is sure to provoke lots of lively debate in the Taste of Travel Theatre. Tied to this is the theme of gut health, which will be addressed by Marc Warde, culinary consultant to the airline rail and cruise industries, as he explores the new generation of meat-free, gluten-free and allergy-friendly meals suitable for health-conscious passengers. Ariane Van Mancius of Now/New/Next will also examine the habits and hang ups of passenger eating habits in her session entitled ‘How Generations Y and Z eat’. She will look at the influences of these ‘new kids on the block’, and in particular how the rules are being re-written through social media and Instagram.Other themes that will be covered include ‘Dine on Demand’ by Werner Kimmeringer and Craig Devoy of Yates+Partners; how consumers are using technology to personalise their food, health, travel and lifestyle by Mariette Abrahams of Mariette Abrahams Consulting; ‘Pre-ordering’ by Delta Airlines Executive Chef Christian Hallowell; and a session on ‘Best Rail Dining in Europe’ by two members of the Junior National Team of AKC (Czech Chefs Culinary Association) who will also demonstrate the latest dining concepts on Czech Railways. In celebration of its centenary year, representatives from British Airways will also present some of the airline’s new menus along with samples.Returning to facilitate meetings on site, WTCE’s Business Meeting Hub provides the perfect place to do business at the show. Private meeting rooms will be available, enabling VIP airline and rail attendees to arrange meetings with existing or new suppliers. Also aiding relationship building is the improved My Event tool that allows visitors and exhibitors to pre-arrange meetings, so they can maximise time spent at the show.Embracing the digital revolutionLaunched last year to great acclaim, the Passenger Technology Solutions (PTS) event will provide a new way for the aviation and rail sectors to improve passenger experience by bringing together some of the world’s most exciting and technologically advanced solutions. This year, the show is back, bigger and better, and ready to provide the perfect platform to showcase game-changing technologies to the world’s leading airlines, airports and rail operators.What’s on at PTS?Trends in technology impact all industries and travel is no exception. To stay competitive, the industry is turning towards the latest solutions to offer customers a better travel experience.Artificial Intelligence (AI), biometrics, blockchain, machine learning and Virtual Reality (VR) are all transforming the way people travel and developments in these areas are showing no sign of slowing down. And with airlines preparing to increase investment in IT by 3.6% as a percentage of their revenue, now couldn’t be a better time for the second edition of PTS, where it will move from the A Halls to Hall B4 Upper of the Hamburg Messe.The move positions the show closer to the popular In-flight Entertainment and Connectivity (IFEC) Zone in the co-located Aircraft Interiors Expo (AIX) and demonstrates the growing importance of big data analytics, machine learning, Artificial Intelligence (AI) and Virtual Reality (VR) solutions in personalising the passenger experience and delivering innovative in-flight entertainment services.Exhibitors at this year’s event will be showcasing a whole range of products, from ancillary revenue optimisation systems, CRM and Ecommerce Systems to IT solutions and mobile apps. These include Aviget Ltd, a technology start-up developing multi-platform chatbots, that helps airlines improve customer engagement. It enables passengers to get an instant answer to any question, book a flight, check-in online, get flight status alerts and even rebook cancelled flights without the need for human interaction. Also exhibiting at PTS, ECR Retail Systems, one of the oldest mobile EPoS providers in the UK, will demonstrate its in-flight mobile point of sale (MPoS) systems; TouchStar OnBoard Retail will introduce attendees to NovoStar, a software solution that facilitates the sale of in-flight duty free, catering and ancillary products; while Black Swan, will return to highlight the importance of data-driven passenger experience software solutions.In addition to the revolutionary technology on show at this year’s PTS, there will be a new feature taking centre stage with the aim of generating further cutting-edge innovation at the event. The Pax Tech Hack – Passenger Experience Week’s first ever Hackathon – will see teams of international developers, designers and marketers battle it out to create revolutionary new solutions that will improve the end-to-end passenger journey.With backing from the official supporting organisation, International Air Transport Association (IATA), the Pax Tech Hack will kick off with a selection of challenges that are currently facing the travel industry. Participating teams will be given just 48 hours to develop a functional concept, with a strong practical application, that will utilise new technologies to tackle issues and help shape the future of the global passenger experience industry.With the first two days of the hackathon devoted to non-stop development, the teams will then be given an opportunity to present their working concepts to judges on the show floor on the final day of PTS. With an audience of passenger experience professionals from airline and rail operators watching on, the winning team in each challenge will receive €5,000.This year’s event will include an exciting free-to-attend educational programme – the PTS Seminar Theatre. A host of industry experts will introduce and explore the latest smart solutions and innovative technologies, data tools and digital solutions that will transform the travel experience. The focus will be on how to enable more seamless and connected experiences, create new business models and increase engagements.Luke Miles, Co-founder and Creative Director of New Territory, will run a workshop on ‘Using emerging technologies to provide truly bespoke passenger experiences.’ The session will explore how airlines can offer more bespoke onboard services at both ends of the plane and achieve continuity between classes. He will present a suite of emerging technologies and examples that are shaping the future of the passenger experience and encourage discussion on the next steps for integration by operators across the air, rail and cruise industries.Speaking about the session, Luke commented: “I’m absolutely delighted to be taking part in this year’s PTS Seminar Theatre. The industry is fast approaching a turning point, which will see the passenger experience undergo a technologically-driven period of advancement. The topics covered in the programme – biometrics, bespoke onboard services and blockchain technology amongst others – will be central to this shift and I’m looking forward to hearing the ground-breaking ideas presented.”A further session titled ‘Flying in 2025 – a holistic approach to passenger engagement’ will be led by Dr. Stathis Kefallonitis, Founder and President of Branding.aero and Noesis Analysis labs. This interactive panel discussion will highlight the perspectives of aircraft manufacturers, technology providers, catering and culinary experts, behavioural scientists and passengers, providing a unique viewpoint on future passenger trends.It will also explore the deployment of the latest technological capabilities, focusing on the role of new aircraft and cabin designs; data analytics, augmented reality, co-branding, collaborations and new product development; passenger-journey customisation and passenger engagement via behavioural and biometric analyses.In another session, Anne De Hauw and Anne-Celine Donkersloot, from IN Air Travel Experience, will take part in a discussion on ‘Transforming the travel ecosystem: Why today’s digital travelers need you to be there’ beyond the flight’, while a session on blockchain technology will evaluate the potential opportunities and challenges that the burgeoning technology can offer the travel sector.Also under the spotlight, sessions will explore the power of biometrics and how it can remove stress and bottlenecks from the travel journey, for passengers and operators alike. Here, Pierre Charbonneau, Director, Passenger Experience & Facilitation from International Air Transport Association (IATA) – Passenger Experience Week’s supporting organisation – will join a panel to discuss One ID, IATA’s visionary concept that introduces a collaborative identity management solution, meaning passengers need to confirm their identity just once, eliminating repetitive ID checks at security, border control and the gate. And finally, during ‘Digital Visionaries’, industry-leading chief digital and passenger experience officers will present exclusive insights on how they are transforming passenger/traveller engagement within their organisations.Katie Murphy, Portfolio Director at Reed Exhibitions, said: “We’re delighted to return to Hamburg this April to mark the 20th anniversary of AIX and the continued growth of co-located events, World Travel Catering & Onboard Services Expo, Passenger Technology Solutions and the Passenger Experience Conference.“More than ever, we’re seeing a clear need for collaboration and cross industry pollination as operators look to transform the passenger experience and learn from best practice across the industry. And, with digital technologies connecting services on the ground and in the air, our four events will help the aviation, rail and cruise sectors transform the passenger experience by sourcing the most innovative products and services and learn from the brightest minds from across the travel industry.”Passenger Experience Week 2019 returns to Hamburg from 1-4 April comprising Aircraft Interiors Expo (AIX), World Travel Catering & Onboard Services Expo (WTCE), Passenger Technology Solutions (PTS) and the Passenger Experience Conference (PEC). The four leading events in one location – the Hamburg Messe – share one goal: to shine a light on the latest innovations and services available to enhance the travel experience and improve the onboard comfort and wellbeing of passengers.About Passenger Experience WeekFour leading events – the Passenger Experience Conference, Aircraft Interiors Expo, World Travel Catering and Onboard Services Expo and Passenger Technology Solutions – one week, one destination. Delivering content, driving innovation and developing connections to transform your business. Showcasing the latest in cabin interiors, in-flight entertainment and connectivity, onboard technology, passenger comfort, catering and travel retail to create the ultimate passenger experience. Taking place 1-4 April 2019 in Hamburg, the events attract more than 18,000 visitors including 2,000 buyers and decision makers from major full service, regional and charter airlines and rail operators and offers the opportunity to meet face to face with suppliers and manufacturers covering the full spectrum of the industry.About Reed ExhibitionsReed Exhibitions is the world’s leading events organiser, with over 500 events in over 30 countries. In 2016 Reed brought together over seven million event participants from around the world generating billions of dollars in business. Today Reed events are held throughout the Americas, Europe, the Middle East, Asia Pacific and Africa and organised by 38 fully staffed offices. Reed Exhibitions serves 43 industry sectors with trade and consumer events. It is part of the RELX Group plc, a world-leading provider of information and analytics for professional and business customer across industries.last_img read more

The first thirty seconds designing that first PaxEx impression

first_imgThink back to your last flight. You walked through the busy airport, down the jetway, or up the aircraft stairs. You entered the aircraft, turn right (or infrequently left), find your seat, and the clock starts: the airline has just about thirty seconds to impress you.Did it do so on that flight? Did the seat and its environment look welcoming, comfortable, interesting, and attractive? Or was it bland, blue-grey, poorly lit, and generic? If it was on a low-cost carrier, did it look cheap and cheerful, or cheap and nasty? If it was a full-service airline, did it look and feel premium, distinctive, or stylish? Did it meet the design, branding and experience expectations that the airline set for you in its advertising, booking process, and the #PaxEx so far?In economy and premium economy, the first impression we see is often set by the lighting. This doesn’t necessarily have to be the very latest in programmable lighting along the lines of that used by Finnair or Icelandair or Philippine Airlines. But it should at the very least be something more than the bright stark white that so many airlines still use, or the tired dim beige that screams thirty-year-old aircraft.Light-colored neutrals aren’t necessarily a problem if they can be coloured by light. Image: John WaltonThe seat fabric used is also key, and it’s a shame that so few airlines make the most of it. After all, it’s practically invisible once passengers are sitting on it, but there’s an opportunity for real fun and differentiation on first sight. Does it break up the serried ranks of seats? Does it catch the lighting, and does it harken back to the airline’s brand? Or is it row after row of dark blue or grey material that could belong to dozens of airlines?Could you name this airline from the cabin design? If not, does that create a problem for a carrier like Scoot? Image: John WaltonAll of those factors from economy are relevant in business and first class too, of course, where passengers paying premium fares are increasingly expecting a premium look and feel. But here there’s more space to work with — and correspondingly more design opportunities to grasp or to squander.Crucially, there is the factor of in-cabin seat shells to consider up front. Walls of greige thermoplastic should sound a cautionary note unless there is thoughtful, consistent lighting that ups the interest level, and a materials choice that works with the lighting rather than against it.Walls and cabin monuments, too, are growing in importance, as is the work done by companies like ABC International alongside design houses to brand cabins and give them a premium feel.Increasingly, the thought given to how the soft product for a flight is presented is a shibboleth for good design and good passenger experience in business class.How are the blankets, pillows, duvets, mattress pads, amenity kits, headphones slippers and other items presented? Are they squeezed into a shrink-wrapped plastic bag and shoved into the footwell? Do you end up with so much plastic wrapping to throw away that you wince in guilt for the future of the planet? Are the seat and side-table surfaces so covered with bits and bobs that you can’t put your hand luggage down to pull out the few things you need for takeoff and landing?Just how much plastic wrapping is truly required of soft product? Image: John WaltonOr have the headphones been discreetly hung on their special hook, the slippers slipped into the magazine rack, the amenity kit positioned attractively, the pillows arranged to look plump and inviting, the duvets tucked out of the way, the mattress pads stored overhead until it’s bedtime?A legitimate question for passengers – just where do you put all that stuff? Image: John WaltonOnce you’re seated, is the screen on and showing something attractive, informative, fun, or otherwise eye-catching? Is what you’re looking at interesting or swanky enough to take a quick snapshot for your family and friends on social media? Or are you staring at a featureless seatback and a dark screen?Is what you see when you sit down worthy of a snap with your cameraphone? Image: John WaltonThere’s a strange mirror dichotomy between designing for a first impression looking down at a seat and, by contrast, for the fact that passengers might be looking at the other side of that seat for nearly twenty-four hours. Getting it right — designing a seat that does both well — takes a long time and much expertise.Related Articles:Towards designing Instagram-worthy modern premium PaxExItaly’s ABC International takes cabin branding to the next levelIs the future of seatback thermoplastics really greige?Finnair’s London A350 is a refreshing change from Eurobusiness normLift explores cabin lighting as a brand canvas and revenue streamBetter flight in amber: is it time to bring warmth back to cabin colors?Gulf Air gets to the heart of identity with rebranding effortCabin designers lavish praise on new airframer-branded cabinslast_img read more

Considering whether American Airlines Shuttle is special…or not

first_imgWhen an airline brands a route as a “shuttle”, a certain level of expectation kicks in. Frequent service, minimal time spent in the airport, and elevated onboard amenities are all expected. But as the amenities offered on board your everyday flight are elevated, does anything special remain about the shuttle flights?On a recent same day roundtrip with American Airlines Shuttle between New York LaGuardia and Boston Logan, very little stood out as elevated above the norm. As this was a same day turn, the reduced bag drop times didn’t matter, as it probably doesn’t for most business travelers. A dedicated check-in kiosk in 2019 isn’t a compelling perk, as many seasoned travelers check in and receive their boarding pass on their phone. While American does not offer a dedicated security lane for Shuttle passengers, TSA PreCheck supersedes that need for many, anyway.Another airport-based perk of the Shuttle could be boarding gates close to security and the curb. This would enable a dashing passenger to pass through security and get to the gate or out to a cab quickly, saving precious seconds. Unfortunately, American doesn’t actually seem to do this at LaGuardia or Boston.Both of my flights departed from and arrived at gates particularly far from the curb. In the case of LaGuardia, the gates were as far down the concourse as possible. Not that either of these airports are huge, but two minutes is two minutes. The American Shuttle website mentions “quick deplaning from the front or rear door”, but that didn’t happen at either end of my trip.I arrived at LaGuardia a bit early for my 8am flight, early enough to see the tail end of boarding for the 7am flight. Although there was space available, a change fee of $75 would be required to hop on board. The American and Delta shuttles don’t allow for free flight changes, further watering down the appeal of a shuttle.Boarding began a few moments after the arrival of the Embraer E190 from Boston. The E190 makes for the perfect shuttle route aircraft. A First Class cabin allows for upgrades and a sizable Main Cabin in a 2-2 economy configuration make for a comfortable ride. The E190 will be exiting American’s fleet soon, likely to be replaced with the equally comfortable but smaller E175.The E190 is perfect for shuttle operations in your writer’s opinion. Image: Jason RabinowitzThe weather was merciful that day, and both of my flights pushed back and departed without delay. Once in the air the flight attendants quickly sprang into action. One of the few tangible perks of the Shuttle is free snacks, beer and wine in the Main Cabin. I choose a cup of water on the outbound flight, while the snack was a run-of-the-mill Biscoff cookie offered on just about every other American flight. The flight was so quick that the flight attendant had to cheer me on by quietly chanting “chug chug chug” as she collected trash before landing.A quick snack for a quick flight. Image: Jason RabinowitzI enjoyed a solid Goose Island IPA on the return, along with the standard bag of pretzels common on daytime American flights. That beer turned out to be the only tangible perk of these two Shuttle flights.Image: Jason RabinowitzThe E190 features Gogo’s original air-to-ground (ATG) network and free streaming entertainment, though neither are particularly useful on this route. Flights on this route hardly spend any time above 10,000 feet, providing about 10-15 minutes of usable access.A fast connection in that it was over fast. Image: Jason RabinowitzOnce the system activated, “full flight” connectivity cost $10, which is a laughably bad deal, working out to nearly $1 per minute of usable airtime. My T-Mobile promotion for an hour of free access provided me with all the time I could get.Image: Jason RabinowitzWhen my meetings wrapped up early I decided to change to an earlier flight home. The American app isn’t the most robust out there, but this function is supported. I forked over the $75 to move from the 7pm to 5pm flight, but the app errored out while processing the change. The change was made on the backend, thankfully. With the Boston traffic Gods smiling, I made it to Logan in record time, and the gate agents for the 4pm flight allowed me to change once again since I had already paid the $75 fee.These two Shuttle flights felt like any other. The Shuttle term has become so watered down that I’m not sure if it even means anything anymore. Gone are the days of standby aircraft for full flights and a meal for all passengers. There are plenty of other routes with shuttle-like frequency as well, such as LaGuardia to Dallas. Both of my flights arrived early, and at the end of the day, that’s what matters most to me.Related Articles:Room for improvement in first class on Alaska Boeing 737-900Delta has good reason to be proud of Delta One SuitesWhy I always say yes to Spirit Airlines’ Big Front SeatAlaska versus JetBlue: A study in transcon PaxEx outside the Big ThreeDelta hits a home run with Airbus A220 passenger experienceRegional airlines up their game to meet customer expectationslast_img read more

Press Release ST Engineering to acquire Newtec for €250m

first_imgSingapore Technologies Engineering Ltd (ST Engineering or the Group) today announced that its subsidiary Singapore Technologies Engineering (Europe) Ltd, has entered into a conditional share purchase agreement to acquire a 100% ownership in Newtec Group NV (Newtec) (the “Proposed Acquisition”), an established Belgium-based company in the satellite communications (satcom) industry.The consideration of €250m (approximately S$383m) (the “Consideration”) on a cash-free and debt-free basis for the Proposed Acquisition, subject to closing adjustments, is payable in cash.Satcom is a growth industrySatcom is a fast-growing industry with an expected CAGR of 8%1 over the next 10 years. The surge of Low Earth Orbit (LEO) constellations will increase bandwidth capacity and reduce operating cost, thereby creating new demand. New use cases, especially to support Smart City applications such as IoT and connected cars, will drive demand for satcom services.Acquisition complementary and synergistic ST Engineering has been growing its satcom business through its U.S.-based iDirect and Singapore-based satcom product and solution business. The Group’s satcom business is an industry leader in the Aeronautical and Maritime segments and has led the industry’s transition to high-throughput satellite (HTS) managed services. It is also the technology provider for leading global satellite operators such as Inmarsat, Intelsat and SES. In 2018, ST Engineering formed a JV company named Jet-Talk Limited, with SatixFy UK Limited to develop cost-effective, high-performance flat panel antenna to address the growing demand for in-flight connectivity. The Group offers a suite of satcom solutions to provide seamless global network  Singapore Technologies Engineering Ltd ST Engineering Hub, 1 Ang Mo Kio Electronics Park Road #07-01, Singapore 567710 T: (65) 6722 1818 F: (65) 6720 2293 (Regn. No.: 199706274H) and bandwidth management with end-to-end integration that addresses the growing needs of enterprise, government, mobility and defence market globally.On the other hand, Newtec is a key technology provider in the satellite broadcast segment with unique ultra-high throughput capabilities and a strong presence in the European satcom market. It has a proven range of cost-effective consumer satellite terminals, and industry-leading bandwidth efficiency technology. Recently, Newtec was among the first companies to successfully test over-the-air communication via LEO satellites. LEO satellites are expected to take off with the launch of more than 5,000 satellites in the coming years. The company is also well placed to leverage the advent of IP-based satellite broadcast which is critical for real-time content distribution.The proposed acquisition of Newtec will add intellectual property, products and market access. ST Engineering will continue to invest in Newtec in Belgium to position it to be the Group’s European centre for the satcom business. The complementary and synergistic effect of this proposed acquisition will enable ST Engineering to meet demand across the full spectrum of the satcom market.Positioning for future growth  With enhanced satcom capabilities, ST Engineering can better participate and lead the advancement of the satcom industry to enable Smart Cities globally. Capitalising on an enlarged IP and product portfolio, the Group will be able to:Accelerate the deployment of satcom-enabled 5G telco network, bringing high bandwidth  connectivity to remote regions. This will help bridge the digital divide and enable the development of new applications such as tele-medicine and tele-education.Address the growing needs for IoT and M2M connectivity, where millions of devices and telematic sensor points are expected to be connected for surveillance, data gathering and big data analytics.Provide end-to-end solutions for the mobility segment, enabling seamless internet connectivity and remote monitoring for the aeronautical, maritime and connected car segments.“This proposed acquisition expands our satcom business in a meaningful way in an attractive industry that is high-tech and high-growth, driving connectivity advances in a world where 5G  and satcom converge,” said Vincent Chong, President & CEO, ST Engineering. “It aligns with our strategy to invest in businesses that help accelerate our growth trajectory, especially in Smart City, to deliver long-term shareholder value.”“We are pleased to be able to acquire Newtec, an established satcom player with strong technology foundations. The differentiated yet complementary technologies, combined with our track record and established satcom experience, will enable us to innovate and deliver more value-added, advanced satellite products and capabilities to our customers, at a more rapid pace,” said Ravinder Singh, President, Electronics sector, ST Engineering.“This coming together of two companies will enable us to move forward together, using our deep-rooted passion for innovation to address our rapidly changing world of connectivity,” said Roald Borré, Chairman of Newtec Board of Directors. “This is an exciting and hugely significant step that simply makes sense for our customers and our staff.”Details of the Proposed AcquisitionThe Consideration was arrived at after negotiations between the parties taking into account, among other factors, Newtec’s current financial performance and future growth prospects. The Consideration translates into a multiple of 14.6 times Newtec’s EBITDA and 2.7 times revenue for the financial year ended 30 September 2018. The businesses when combined, is expected to produce about S$200m in value creation arising from revenue and cost synergies.The proposed acquisition is not expected to have any material impact on the earnings per share of ST Engineering for the current financial year but is expected to be earnings accretive from the second year post acquisition. The proposed acquisition is expected to reduce ST Engineering’s audited consolidated net tangible assets by approximately S$0.112 per share from S$0.41 per share to S$0.30 per share, assuming the Proposed Transaction has been effected at the end of FY2018. Newtec has consolidated net tangible assets (NTA) of €5.1m (approximately S$8m) and consolidated net assets of €28.4m (approximately S$44m) as at 30 September 2018.Subject to regulatory approvals and conditions that include receipt of clearance from the Committee on Foreign Investment in the United States, Foreign Investment Review in France, and anti-trust approvals in Austria, the Proposed Acquisition is expected to complete in 2H2019.Numbers are based on in-house analysis of the third edition of Northern Sky Research (NSR) Commercial Satellite Ground Segment report (2018).Calculated based on Newtec’s consolidated net tangible assets as at 30 September 2018.ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in the defence, government and commercial segments in more than 100 countries. Its employees bring innovation and technology together to create smart engineering solutions for customers in the defence, government and commercial segments. With more than 500 smart city projects across 70 cities in its track record, the Group continues to help transform cities through its suite of Smart Mobility, Smart Security and Smart Environment solutions. Headquartered in Singapore, ST Engineering reported revenue of S$6.7b in FY2018 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, SGX ESG Transparency Index and SGX ESG Leaders Index.last_img read more