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Oracle Powers the Next Generation of Finance with New Artificial Intelligence Applications

NEW YORK, Feb. 13, 2018 -- Modern Finance Experience 2018 -- To empower the office of the CFO with data-driven insights they need to adapt to change, capitalize on new market opportunities, and increase profitability, Oracle today announced new artificial intelligence-based applications for finance. By applying advanced data science and machine learning to data from the Oracle Data Cloud and from partners, the new Oracle Adaptive Intelligent Applications for Enterprise Resource Planning (ERP) help automate transactional work and streamline business processes.

Oracle Adaptive Intelligent Applications for ERP are designed to enhance existing applications, including financials, procurement, enterprise performance management, order management, and manufacturing within the ERP Cloud suite.

CFOs and modern finance professionals are under pressure to increase the agility and effectiveness of their organizations. As such, they need to constantly monitor and assess what is working and what is not and redeploy resources for maximum returns.

"To increase their agility, organizations need to leverage the right tools to help improve process efficiency and uncover insights that can guide a business forward," said Rondy Ng, senior vice president, Oracle Applications Development. "Oracle helps finance leaders drive business transformation with ready-to-go applications that combine advanced machine learning with the industry's most comprehensive suite of cloud applications to deliver immediate value and results."

With Oracle Adaptive Intelligent Applications for ERP, finance leaders can benefit from:

  • Better insight: Applying analytics and artificial intelligence to finance can improve performance and increases agility across payables, receivables, procurement, and fiscal period close processes. Intelligent applications are also able to provide suggested actions to help mitigate vendor risk and fraud activity by detecting exceptions in vendor selection criteria.
  • Greater efficiency: Robotic process automation and artificial intelligence capabilities enable touchless transaction processing, minimizing the chance of human error.
  • Smarter business outcomes: Oracle delivers immediate impact by infusing machine learning across the entire suite of business applications; this is done by leveraging data from the Oracle Data Cloud and from partners to derive insights across multiple channels and platforms, including finance, HR, and project management to support strategic business decision-making.
  • Increased influence: The rich insights available to finance leaders via artificial intelligence empower CFOs to anticipate what comes next for the business and to make wise decisions, increasing the influence of the CFO and finance team in the organization.

For example, using Oracle Adaptive Intelligent Applications for ERP can help a finance team at a large national retail brand collect first-party data on their suppliers, such as supplier purchase history, percentage of revenue, discounts taken with third-party data on supplier revenue, credit score, and other company attributes. The finance organization can then decide which suppliers to double down on and which to cease doing business with for maximum cost savings, while maintaining quality standards. The ability to quickly fine tune the business based on data-driven insights will increase the finance function's value in the organization and CEOs will increasingly rely on the CFO and finance team for strategic recommendations to improve business performance.

By applying advanced data science and machine learning to Oracle's web-scale data and an organization's own data, the new Adaptive Intelligent Apps can react, learn, and adapt in real time based on historical and dynamic data, while continuously delivering better business insights.

According to the Gartner report, "Impacts of Artificial Intelligence on Financial Management Applications," written by Nigel Rayner and Christopher Iervolino, "The transformational potential of AI in financial management applications will come in the next two to three years as more AI technologies are embedded directly into financial management processes to automate complex, non-routine activities with little or no human intervention. Also, using AI to improve the accuracy and effectiveness of financial forecasting and planning will transform these processes."1

The Oracle Adaptive Intelligent Apps are built into the existing Oracle Cloud Applications to deliver the industry's most powerful AI-based modern business applications across finance, human resources, supply chain and manufacturing, commerce, customer service, marketing, and sales. The apps are powered by insights from the Oracle Data Cloud, which is the largest third-party data marketplace in the world with a collection of more than 5 billion global consumer and business IDs and more than 7.5 trillion data points collected monthly.

About Oracle
The Oracle Cloud offers complete SaaS application suites for ERP, HCM and CX, plus best-in-class database Platform as a Service (PaaS) and Infrastructure as a Service (IaaS) from data centers throughout the Americas, Europe and Asia. For more information about Oracle (NYSE: ORCL), please visit us at oracle.com.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Safe Harbor Disclaimer
The preceding is intended to outline our general product direction. It is intended for information purposes only, and may not be incorporated into any contract. It is not a commitment to deliver any material, code, or functionality, and should not be relied upon in making purchasing decisions. The development, release, and timing of any features or functionality described for Oracle's products remains at the sole discretion of Oracle Corporation.

Statements in this article relating to Oracle's future plans, expectations, beliefs, and intentions are "forward-looking statements" and are subject to material risks and uncertainties. Such statements are based on Oracle's current expectations and assumptions, some of which are beyond Oracle's control. All information in this article is current as of October 2, 2017 and Oracle undertakes no duty to update any statement in light of new information or future events.

 

   

1 Gartner Report: "Impacts of Artificial Intelligence on Financial Management Applications," Analysts Nigel Rayner, Christopher Iervolino, Published November 7, 2017.

 

SOURCE Oracle

Related Links

http://www.oracle.com

Canon Solutions America and Agile Cybersecurity Solutions Join Forces

MELVILLE, N.Y., Feb. 13, 2018 -- Canon Solutions America, Inc., a wholly owned subsidiary of Canon U.S.A., Inc. today announces an alliance with Agile Cybersecurity Solutions (ACS), a Washington, D.C. cybersecurity firm serving  leading governmental agencies and major private sector companies and many more. This alliance expands Canon Solutions America's portfolio of secure print, enterprise content management (ECM), and document solutions that have been helping customers with tools to help them secure their business process workflows in many industries.

In a business climate where data breaches are becoming increasingly prevalent ACS and their team of "Cyber SEALs" can help businesses to establish a top tier security posture, mitigate risk, provide incidence response, and even offer Virtual Chief Information Security Officer (vCISO) services for small to medium business organizations whose budget doesn't allow for a full time Chief Information Security Officer.

With this announcement, Canon Solutions America extends its commitment to providing customers with tools to help secure their business and vital information. By referring customers to esteemed organizations and assisting its customers connect with experts in cybersecurity, Canon Solutions America provides tools and resources for its vast customer base so that they will receive training, guidance, and consulting services to help address security concerns. Whether it be cyber etiquette training for its customers' employees, or Canon Solutions America's full suite of security offerings, the industry-leading company is dedicated to helping organizations of all sizes with tools and referrals so that their customers can address their security platforms.

"Security is a journey, not a destination. It requires what we at ACS call a Predict, Prevent, and Persist methodology, which is a holistic precognitive approach to maintaining a secure environment," says ACS CEO Carlos Fernandes. "We are excited to work with a world class organization such as Canon Solutions America and contribute toward their ability to continue to provide the kind of excellent service that they are known for and that their customers have come to expect from them."

Peter Kowalczuk, Canon Solutions America President, echoes Mr. Fernandes' excitement. "Our mission has always been to offer our customers solutions and services that can enable business growth, provide improvements in productivity and efficiency, and help protect information as it flows both inside and outside of an organization. Working with ACS, our abilities enter into a new dimension of customer service that can have a profound effect on the welfare of our customers."

Visit csa.canon.com/security to learn more about the full scope of our security and solutions offerings.

About Agile Cybersecurity Solutions (ACS)

Established in 2012, ACS has become a trusted leader in Cybersecurity. Our unique combination of proven methodologies and multi-disciplined cyber expertise forms a proactive, end-to-end Cybersecurity solution. ACS offers tools to build a strong defense against the cyber threat, but also to keep you one step ahead of it.

The ACS Cyber SEAL Program is designed to attract the best and brightest talent in the Cybersecurity space. These Cybersecurity practitioners integrate seamlessly with existing teams and act as a catalyst for quick and decisive action, critical to next gen Cybersecurity services and solutions.

Visit us at: agilecybersecurity.solutions

About Canon Solutions America, Inc.

Canon Solutions America provides industry leading enterprise, production, and large format printing solutions, supported by exceptional professional service offerings. With the technology offerings of the Canon and Océ brands, Canon Solutions America helps companies of all sizes find ways to:  improve sustainability, increase efficiency, and control costs in conjunction with high volume, continuous feed, digital and traditional printing, and document management solutions. A wholly owned subsidiary of Canon U.S.A., Inc., Canon Solutions America is headquartered in Melville, N.Y. and has sales and service locations across the U.S. For more information on Canon Solutions America, please visit csa.canon.com.

Canon products offer certain security features, yet many variables can impact the security of your devices and data.  Canon Solutions America, Inc. does not warrant that use of its features will prevent security issues. Nothing herein should be construed as legal or regulatory advice concerning applicable laws; customers must have their own qualified counsel determine the feasibility of a solution as it relates to regulatory and statutory compliance.

Canon Solutions America, Inc. ("CSA"), is authorized and compensated to refer prospective customers to Agile Cybersecurity Solutions, LLC ("Agile").  Customer acknowledges and agrees that: (i) Agile will provide products and services to you pursuant to an agreement between you and Agile; (ii) CSA shall have no obligation or liability therefor; (iii) you shall look solely to Agile as to any claim or cause of action arising from such products and services, or your agreement with Agile; and (iv) you waive your rights to bring any such claim or cause of action against CSA. Neither Canon Inc., Canon U.S.A., Inc., nor Canon Solutions America, Inc. represents or warrant any third-party product or feature referenced hereunder.

Canon is a registered trademark of Canon Inc. in the United States and elsewhere. Océ is a registered trademark of Océ-Technologies B.V. in the United States and elsewhere. All other referenced product names and marks are trademarks of their respective owners and are hereby acknowledged.

© 2018 Canon Solutions America, Inc. All rights reserved.

 

Canon Solutions America, Inc. Website:

Editorial Contact:

http://csa.canon.com 

Conor Febos

For sales info/customer support:

631-330-4109

1-844-443-INFO (4636)      

[email protected]     

 

SOURCE Canon Solutions America, Inc.

Related Links

https://csa.canon.com

CommAgility LTE systems chosen by Lockheed Martin for satcom project

LOUGHBOROUGH, England, Feb. 13, 2018 -- CommAgility, a Wireless Telecom Group company (NYSE MKT: WTT), announces that it is has been selected by Lockheed Martin (NYSE: LMT) to supply integrated software and hardware for an innovative satellite communications (satcom) project.

CommAgility is supplying a customized version of its SmallCellPHY software, which is a complete LTE physical layer for small cells, compliant with 3GPP Release 10. The LTE software will run on CommAgility's AMC-D24A4-RFx processing/RF module, and the company is also supplying its AMC-4C6678-SRIO module for the project.

Joseph Baldasano, LM Fellow and Satcom Project Chief Engineer at Lockheed Martin, said: "CommAgility has been able to deliver a valuable combination of LTE expertise and support, together with excellent hardware and software products, that makes them a key component of our satcom project."

Edward Young, Vice President and General Manager at CommAgility, said: "CommAgility has deep LTE expertise coupled with a wide range of LTE software IP, and is the ideal provider for customers who wish to take the LTE standard in new and innovative application areas such as satellite communications or other specialized networks. We are honoured to be working with Lockheed Martin in this important project."

The AMC-D24A4-RFx is an extremely high performance processing module based on Texas Instruments' (TI's) TCI6638 KeyStone II DSP/ARM System on Chip (SoC). The module also includes two Texas Instruments TMS320C6678 SoC DSPs, a Xilinx Kintex-7 FPGA, and up to four integrated, flexible, wideband RF transceiver channels. The AMC-4C6678-SRIO is a high performance DSP card, powered by TI SoC TMS320C6678 DSPs.

SmallCellPHY software is a complete LTE physical layer for small cells, currently compliant to 3GPP Release 10 and with a roadmap to Release 13 in 2018. It is tailored to TI's SoCs to maximize performance, and optimized for low memory, processing power, and power consumption.

For more information please contact CommAgility at +44 1509 228866, [email protected] or www.commagility.com.

About Lockheed Martin

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 97,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. For additional information, visit our website: www.lockheedmartin.com.

About Wireless Telecom Group, Inc.

Wireless Telecom Group, Inc., comprised of Boonton Electronics, CommAgility, Microlab and Noisecom, is a global designer and manufacturer of advanced RF and microwave components, modules, systems and instruments.  Serving the wireless, telecommunication, satellite, military, aerospace, semiconductor and medical industries, Wireless Telecom Group products enable innovation across a wide range of traditional and emerging wireless technologies. With a unique set of high-performance products including peak power meters, signal analyzers, signal processing modules, LTE PHY and stack software, power splitters and combiners, GPS repeaters, public safety monitors, noise sources, and programmable noise generators, Wireless Telecom Group supports the development, testing, and deployment of wireless technologies around the globe.

CommAgility, a Wireless Telecom Group company, is an award-winning developer of embedded signal processing and RF modules, and LTE PHY/stack software, for 4G and 5G mobile network and related applications. CommAgility designs the latest DSP, FPGA and RF technologies into compact, powerful, and reliable products based on industry standard architectures. CommAgility's LTE software for mobile devices and wireless infrastructure includes physical layer and protocol stack for small cells, physical layer and protocol stack for terminals, an advanced scheduler for small cells, and IP development in the areas of advanced PHY algorithms in multi-core SDR platforms.  

Wireless Telecom Group, Inc.'s website address is www.wtcom.com. Except for historical information, the matters discussed in this news release may be considered "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include declarations regarding the intent, belief or current expectations of the Company and its management. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties that could materially affect actual results. Such risks and uncertainties are identified in the Company's reports and registration statements filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2016.            

 

SOURCE CommAgility

Related Links

http://www.commagility.com

General Dynamics to Acquire CSRA for $9.6 Billion

FALLS CHURCH, Va., Feb. 12, 2018 -- General Dynamics (NYSE: GD) and CSRA (NYSE: CSRA) today announced that they have entered into a definitive agreement under which General Dynamics will acquire all outstanding shares of CSRA for $40.75 in cash. The transaction is valued at $9.6 billion, including the assumption of $2.8 billion in CSRA debt.

"The acquisition of CSRA represents a significant strategic step in expanding the capabilities and customer base of GDIT," said Phebe Novakovic, chairman and chief executive officer of General Dynamics. "CSRA's management team has created an outstanding provider of innovative, next-generation IT solutions with industry-leading margins. We see substantial opportunities to provide cost-effective IT solutions and services to the Department of Defense, the intelligence community and federal civilian agencies. The combination enables GDIT to grow revenue and profits at an accelerated rate. It will allow us to deliver even more innovative, leading-edge solutions to our customers."

- Combination creates the premier provider of high-tech IT solutions to Government Technology Services market

- With approximately $9.9 billion in revenue and strong double-digit EBITDA margins, the combined GDIT and CSRA is well-positioned to serve its customers' current and evolving mission requirements

- Expected to generate run-rate pre-tax cost synergies of approximately 2% of combined sales by 2020

- Accretive to earnings and free cash flow per share in 2019

- Robust cash flow allows for rapid deleveraging and maintaining capital deployment flexibility

 

Larry Prior, chief executive officer and president of CSRA, said, "Our combination with General Dynamics represents an excellent outcome for CSRA's stockholders, employees and customers. It builds on strong shared values, culture and a passion for serving our customers' missions. We believe that this combination creates a clear, differentiated leader in the Federal IT sector, with a full spectrum of enterprise IT capabilities, including unique depth in Next-Gen offerings in conjunction with our commercial IT alliance partners."

Novakovic continued, "I am very pleased to welcome CSRA's talented leadership team and employees. This combination brings together two industry leaders with highly complementary capabilities to create a strong business with approximately $9.9 billion in revenue and double-digit EBITDA margins in the consolidating Government Technology Services sector."

General Dynamics expects the transaction to be accretive to GAAP earnings per share and to free cash flow per share in 2019, and expects to generate estimated annual pre-tax cost savings of approximately 2 percent of the combined company's revenue by 2020. We are committed to maintaining our strong credit ratings and using our robust cash flow for reduction of debt from the transaction, continuation of our dividend policy and the flexible deployment of capital, including ongoing investment in the business.

Transaction Terms and Financing
Under the terms of the agreement, which has been unanimously approved by the Board of Directors of both companies, a subsidiary of General Dynamics will commence a cash tender offer to purchase all of the outstanding shares of CSRA common stock for $40.75 per share in cash. The tender offer is subject to customary conditions, including antitrust clearance and the tender of a majority of the outstanding shares of CSRA common stock. Following successful completion of the tender offer, General Dynamics would acquire all remaining shares not tendered in the offer through a merger at the same price as in the tender offer. General Dynamics expects to complete the acquisition in the first half of 2018.

We anticipate financing the transaction through a combination of available cash and new debt financing. Upon completion of the transaction, General Dynamics anticipates retaining strong credit ratings with net debt of approximately $10.5 billion.

Advisors
Stone Key Group, LLC served as exclusive financial advisor to General Dynamics and Jenner & Block LLP served as legal counsel. Evercore and Macquarie Capital served as financial advisors to CSRA and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel.

Conference Call
General Dynamics and CSRA executives will discuss the transaction in a webcast on Monday, February 12, beginning at 8:30 a.m. EST. The live webcast of the conference call will be available on the General Dynamics website, www.generaldynamics.com, and the CSRA website, www.CSRA.com.

About General Dynamics
Headquartered in Falls Church, Virginia, General Dynamics (NYSE: GD) is a global aerospace and defense company that offers a broad portfolio of products and services business aviation; combat vehicles, weapon systems and munitions; C4ISR and IT solutions; and shipbuilding. The company's 2017 revenue was
$31 billion. More information is available at www.generaldynamics.com.

About CSRA
CSRA (NYSE: CSRA) is a leading government IT business providing next-generation technology solutions to federal customers. CSRA's solutions are organized into six service areas: cyber; data and analytics; digital platforms; digital services; enterprise business services; and intelligent business process services. The company's FY2017 (March) revenue was $5 billion. To learn more about CSRA, visit www.CSRA.com.

Notice to Investors
The tender offer described in this press release has not yet commenced. This press release is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of CSRA stock. At the time the tender offer is commenced, Red Hawk Enterprises Corp., a wholly-owned subsidiary of General Dynamics ("Merger Sub"), will file a tender offer statement and related exhibits with the U.S. Securities and Exchange Commission (the "SEC") and CSRA will file a solicitation/recommendation statement with respect to the tender offer. Investors and stockholders of CSRA are strongly advised to read the tender offer statement (including the related exhibits) and the solicitation/recommendation statement, as they may be amended from time to time, when they become available, because they will contain important information that stockholders should consider before making any decision regarding tendering their shares. The tender offer statement (including the related exhibits) and the solicitation/recommendation statement will be available at no charge on the SEC's website at www.sec.gov. In addition, the tender offer statement and other documents that Merger Sub files with the SEC will be made available to all stockholders of CSRA free of charge at www.generaldynamics.com. The solicitation/recommendation statement and the other documents filed by CSRA with the SEC will be made available to all stockholders of CSRA free of charge at www.CSRA.com.

Additional Information about the Merger and Where to Find It
In connection with the potential one-step merger of Merger Sub. with and into CSRA without the prior consummation of the Offer (the "One Step Merger"), CSRA will file a proxy statement with the SEC. Additionally, CSRA will file other relevant materials with the SEC in connection with the proposed acquisition of CSRA by General Dynamics and Merger Sub. pursuant to the terms of the Merger Agreement. Investors and stockholders of CSRA are strongly advised to read the proxy statement and the other relevant materials, as they may be amended from time to time, when they become available, because they will contain important information about the One Step Merger and the parties to the One Step Merger, before making any voting or investment decision with respect to the One Step Merger. The proxy statement will be available at no charge on the SEC's web site at www.sec.gov. The proxy statement and other documents filed by CSRA with the SEC will be made available to all stockholders of CSRA free of charge at www.CSRA.com.

CSRA and its directors and officers may be deemed to be participants in the solicitation of proxies from CSRA's stockholders with respect to the One Step Merger. Information about CSRA's directors and executive officers and their ownership of CSRA's common stock is set forth in the proxy statement for CSRA's 2017 Annual Meeting of Stockholders, which was filed with the SEC on June 27, 2017. CSRA stockholders may obtain additional information regarding the interests of CSRA and its directors and executive officers in the Merger, which may be different than those of CSRA stockholders generally, by reading the proxy statement and other relevant documents regarding the One Step Merger, when filed with the SEC.

Certain statements made in this press release, including any statements as to future results of operations and financial projections, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Forward-looking statements include, among other things, statements about the potential benefits of the proposed transaction; the prospective performance and outlook of the combined company's business, performance and opportunities, including the ability to deliver more innovative, leading-edge solutions; the ability of the parties to complete the proposed transaction and the expected timing of completion of the proposed transaction; as well as any assumptions underlying any of the foregoing. Forward-looking statements are based on management's expectations, estimates, projections and assumptions. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. The following are some of the factors that could cause actual future results to differ materially from those expressed in any forward-looking statements: (i) uncertainties as to the timing of the tender offer and the merger; (ii) the risk that the proposed transaction may not be completed in a timely manner or at all; (iii) uncertainties as to the percentage of CSRA's stockholders tendering their shares in the tender offer; (iv) the possibility that competing offers or acquisition proposals for CSRA will be made; (v) the possibility that any or all of the various conditions to the consummation of the tender offer or the merger may not be satisfied or waived, including the failure to receive any required regulatory approvals from any applicable governmental entities (or any conditions, limitations or restrictions placed on such approvals); (vi) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement; (vii) the risk that stockholder litigation in connection with the proposed transaction may result in significant costs of defense, indemnification and liability; and (viii) other factors as set forth from time to time in General Dynamics and CSRA's filings with the SEC, including their respective Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q, as well as the tender offer statement, solicitation/recommendation statement and other tender offer documents that will be filed by General Dynamics, Merger Sub and CSRA. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.

All forward-looking statements speak only as of the date they were made. General Dynamics, CSRA and Merger Sub do not undertake any obligation to update or publicly release any revisions to any forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.

SOURCE General Dynamics

Related Links

http://www.generaldynamics.com

Magal Acquires Control of ESC BAZ - Manufacturer of Security Video Observation & Surveillance Systems

Magal Security Systems, Ltd. (NASDAQ GM: MAGS) today announced it has signed an agreement to acquire a 55% controlling interest in ECS BAZ Ltd. ("BAZ"), an Israeli-based company, focused on the development and manufacturing of military-grade smart Security Video Observation and Surveillance systems. Magal has the option to acquire the remaining outstanding shares from BAZ's shareholder and General Manager, Benny Zviran. Mr. Zviran will continue to serve as the General Manager of BAZ. The closing of the acquisition is pending the approval of the Israeli anti-trust authority.

It is anticipated that BAZ's operation coupled with the expected synergies will positively contribute to Magal's revenues and will be accretive to earnings.

The BAZ product portfolio includes a wide range of modular and customizable medium and long range surveillance systems for distances from 500m up to 25km. BAZ systems have been used successfully for over twenty years, are operational and field proven with customers including the Israeli Defense Forces, Police and Security Services, as well as numerous other government and civilian customers worldwide.

Saar Koursh, CEO of Magal, commented, "Our vision is to lead the perimeter security market by offering a one stop shop for all cutting edge perimeter intrusion detection systems (PIDS) Security Solutions. The BAZ acquisition will enable us to offer smart thermal cameras with embedded video analytics and strengthens and broadens our portfolio of PIDS, state of the art video management systems and video analytics offerings. We welcome the very talented and experienced team at BAZ to the Magal Group and look forward to realizing the strong potential synergies between our companies."

Benny Zviran, General Manager of BAZ, commented, "We are proud to join the Magal team, contributing our smart Video Observation and Surveillance solutions to an industry leading portfolio of perimeter security products. We look forward to better tapping this important market and growing together over the coming years."

ABOUT MAGAL 

Magal is a leading international provider of solutions and products for physical and video security solutions, as well as site management. Over the past 45 years, Magal has delivered its products as well as tailor-made security solutions and turnkey projects to hundreds of satisfied customers in over 80 countries - under some of the most challenging conditions.

Magal offers comprehensive integrated solutions for critical sites, managed by Fortis4G - our 4th generation, cutting-edge physical security information management system (PSIM). The solutions leverage our broad portfolio of home-grown PIDS (Perimeter Intrusion Detection Systems), Symphony - our advanced VMS (Video Management Software) with native IVA (Intelligent Video Analytics) security solutions.

Forward Looking Statements

Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. The words "estimate", "project", "intend", "expect", "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties. Such statements are based on assumptions and expectations which may not be realized and are inherently subject to risks and uncertainties, many of which cannot be predicted with accuracy and some of which might not even be anticipated. Future events and actual results, financial and otherwise, may differ from the results discussed in the forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in Magal's reports filed from time to time with the Securities and Exchange Commission, including its Annual Report on Form 20-F and Current Reports on Form 6-K.

For more information: 
Magal Security Systems Ltd.
Saar Koursh, CEO
Tel: +972-3-539-1421
E-mail: [email protected]
Web: http://www.magal-s3.com

GK Investor Relations
Ehud Helft / Gavriel Frohwein
Tel: (US) +1-646-688-3559
E-mail: [email protected]

Optim Awarded Five Year Contract from Department of Homeland Security

STURBRIDGE, Mass., Feb. 12, 2018 -- Optim LLC, a US-based manufacturer and marketer of innovative contraband detection imaging equipment, announced it has been awarded a five-year, sole-source contract to supply its FreedomView Videoscope to the United States Customs and Border Patrol ("CPB") division. The FreedomView provides law enforcement agents the ability to search for illegal contraband, such as drugs, people, and weapons of mass effect hidden in hard-to-reach-and-see areas of vehicles, containers, and other conveyances.    

"We believe the FreedomView Videoscope is the best-in-class for contraband detection," stated Paul Joyce, President and CEO of Optim. "We are extremely excited that Department of Homeland Security and the CPB selected our cutting-edge equipment to enable agents to effectively police, maintain, and protect our nation's borders. This continues the long, exclusive relationship we've had with CBP that dates back to 2010. The FreedomView is about enabling effective search and seizure in vehicles and hazardous environments, while still offering simplicity and safety to the agents using the equipment."

The CPB is tasked with utilizing small-scale detection systems like the FreedomView Videoscope to further their mission of preventing illegal contraband from entering the United States. The FreedomView is designed for easy, portable use and feature state-of-the-art optical quality. A robust, durable construction of the videoscope enables field agents operating at ports of entry and checkpoints to conduct searches safely and efficiently.

Optim's pioneering FreedomView line for contraband detection features a one-handed operation, outstanding image quality, and made-in-America craftmanship and durability. The FreedomView line is UL-certified for use in hazardous environments such as gas tanks and incorporates one-touch image/video capture for reference and evidence usage.  Empowered for highly protected use, the FreedomView includes AES 256-bit hardware encryption with FIPS 140-2 Level 3 validation – enabling file transfer with secure USB drives. Intended for the rigors of every day law enforcement, the video systems can sustain the harsh elements with its water, dust, and high temperature resistant design.

About Optim:

Optim LLC designs, develops, manufactures and markets state-of-the-art imaging products and accessories that help professionals in the medical, law enforcement, and industrial markets perform visualization procedures more effectively and efficiently. The ENTity Series for medical and the FreedomView Series for industrial and security markets utilize the company's patented OptiLux™ LED lighting technology freeing users from tethered or bulky external devices. Optim owns the trademarks for Optim, ENTity, FreedomView, and OptiLux.  Information about Optim's products is available at www.optim-llc.com.  

Contact: Lisa Skowyra
Phone: 508-556-5182
[email protected]

SOURCE Optim LLC

Related Links

http://optim-llc.com

SITA to keep Air Mauritius’ new Airbus A350 fleet connected to the key systems on the ground

SITA is providing wireless connectivity on the ground to Air Mauritius’ new fleet of Airbus A350 aircraft, keeping the new-generation aircraft connected to the vital back-end systems no matter where they fly.

In October 2017, Air Mauritius introduced the first two new-generation Airbus A350 aircraft with a further four expected to join the fleet over the next few years. The Airbus A350 is one of the most advanced aircraft flying today. It brings with it a unique complexity with large data exchange in its own unique protocol – Media Independent Aircraft Messaging (MIAM). This is designed to exchange large amounts of data between the aircraft and ground systems using multiple communication channels.

SITAONAIR – SITA’s sister company focused on connected aircraft – has developed a solution to understand this complex MIAM communication and simplify integration into airline systems and processes. Additionally, Air Mauritius wanted this exchange over Inmarsat SwiftBroadband (SBB). This required SITAONAIR to work closely with all stakeholders, including Airbus and IBM, to ensure the successful launch of A350 operations and in the process, hosting the entire service in the SITA ATI Cloud.

At the gate, SITA’s wireless connectivity allows the airline to quickly and securely exchange vital aircraft information generated during flight with both the airline’s own systems as well as with Airbus and IBM. At the same time key information ahead of the next flight can be uploaded, including passenger and flight information.

This connectivity allows for rapid exchange of aircraft information which will help Air Mauritius speed up aircraft turnaround times while ensuring seamless management of the aircraft’s systems by ensuring complete connectivity globally.   

Donald Li Ying, Vice President – Information Systems at Air Mauritius, said: “As Air Mauritius begins to introduce a new-generation of connected aircraft such as the Airbus A350, it is vital that we have a partner that can support the transfer of data both in the air and on the ground. This is vital to leverage the full benefit that connected aircraft can bring to the airline and our passengers.”
   
Maneesh Jaikrishna, SITA Vice President Indian Subcontinent, Eastern & Southern Africa said: “The continued growth in connected aircraft such at the Airbus A350 is opening new possibilities to enhance the passenger experience on board as well drive new efficiencies in how these aircraft are managed.”

 “These new aircraft have become flying data centers which rely on world-class connectivity in order to exchange information on everything from engine data, passenger requirements to updates at the destination. This requires reliable, fast connectivity no matter where the aircraft finds itself. At SITA we are working with airlines globally to support that connectivity and ensure that the full benefits of connected aircraft can be unlocked.”

A total of 30% of airlines are already operating connected aircraft within their fleet and 73% of airlines will either operate or have taken delivery of connected aircraft in the next three years, according to SITA Air Transport IT Insights 2017.

Northrop Grumman to Provide Advanced Electronic Warfare Simulation Capability to Kingdom of Saudi Arabia

BUFFALO, N.Y. – Northrop Grumman Corporation (NYSE: NOC) has received a $75 million Indefinite Delivery/Indefinite Quantity (IDIQ) contract award to deliver Joint Threat Emitter (JTE) support services to the Kingdom of Saudi Arabia.

Northrop Grumman to Provide Advanced Electronic Warfare Simulation Capability to Kingdom of Saudi Arabia
The Joint Threat Emitter provides a modern, reactive battlespace war environment, designed to help train military personnel to identify and effectively counter enemy missile or artillery threats.

The JTE offers realistic warfighter training and provides a modern, reactive battlespace environment that trains military personnel to identify and counter enemy missile and artillery threats. It is a robust and ruggedized system that is easily relocated, reactive to aircrew/aircraft for fast-jet, fixed-wing and rotary-wing defensive measures, and can be rapidly reprogrammed with new threat parameters.

“Highly advanced and ready for the systems of today and tomorrow, JTE gives the Kingdom of Saudi Arabia an important capability for preparing its aircrews for operation in the modern electromagnetic spectrum environment,” said Walid Abukhaled, chief executive, Northrop Grumman Middle East.

Northrop Grumman’s JTE is the current U.S. Air Force program of record with 23 systems fielded both domestically and internationally.

Northrop Grumman has been working in the Kingdom for more than 40 years. The company provides advanced technologies to help enhance defense and technical capabilities. Northrop Grumman is also involved in localization activities and development of national capabilities to encourage Saudi youth to work in the technical and defense fields.

Northrop Grumman is a leading global security company providing innovative systems, products and solutions in autonomous systems, cyber, C4ISR, strike, and logistics and modernization to customers worldwide. Please visit news.northropgrumman.com and follow us on Twitter, @NGCNews, for more information.

Lockheed Martin Receives $524 Million Contract for PAC-3 Missiles

DALLAS, -- The United States and allied military forces will upgrade their missile defense capabilities under a $524 million contract modification for production and delivery of Lockheed Martin (NYSE: LMT) Patriot Advanced Capability-3 (PAC-3) and PAC-3 Missile Segment Enhancement (PAC-3 MSE) interceptors. This modification is in addition to the $944 million contract awarded on Dec. 21, 2017 for PAC-3 and PAC-3 MSE production and delivery.

Lockheed Martin's PAC-3 MSE interceptor obliterates incoming threats by striking them directly at extremely high velocity.
Lockheed Martin's PAC-3 MSE interceptor obliterates incoming threats by striking them directly at extremely high velocity.

The contract modifications include PAC-3 and PAC-3 MSE missile deliveries, launcher modification kits, associated equipment and spares.

"PAC-3 and PAC-3 MSE give our customers unmatched, combat-proven hit-to-kill technology to address growing and evolving threats," said Jay Pitman, vice president of PAC-3 programs at Lockheed Martin Missiles and Fire Control. "PAC-3 and MSE are proven, trusted and reliable interceptors that employ hit-to-kill accuracy, lethality and enhanced safety to address dangers around the world."

The PAC-3 is a high-velocity interceptor that defends against incoming threats, including tactical ballistic missiles, cruise missiles and aircraft. PAC-3 currently provides missile defense capabilities for 11 nations – the U.S., Germany, Kuwait, Japan, Qatar, the Republic of Korea, Kingdom of Saudi Arabia, Taiwan, the Netherlands, United Arab Emirates and Romania.  

Building on the combat-proven PAC-3, the PAC-3 MSE uses a two-pulse solid rocket motor that increases altitude and range to defend against evolving threats.

For additional information, visit our website: www.lockheedmartin.com.

About Lockheed Martin
Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 100,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services.

 

SOURCE Lockheed Martin

Related Links

https://www.lockheedmartin.com

Sevatec Wins Coveted Spot on GSA's $50B Unrestricted Alliant 2 Acquisition Vehicle

FAIRFAX, Va., Feb. 6, 2018 -- Sevatec has been awarded a GSA Alliant 2 Unrestricted Governmentwide Acquisition Contract (GWAC) to provide customized IT services and IT service-based solutions for federal government customers. The unrestricted GWAC, a multiple award Indefinite Delivery Indefinite Quantity (IDIQ) contract, has a $50B program ceiling and is a new contract vehicle for Sevatec that will add significant opportunities for the government to access the firm's expertise and technical capabilities.

"With the award of unrestricted Alliant 2, GSA is now offering access to a new generation of businesses that are more advanced, more capable, and more agile," said Sonny Kakar, Founder and CEO. "This presents a perfect opportunity for customers who must have access and flexibility to the right solutions for their cyber, data, agile software, and cloud challenges, while also engaging with firms like Sevatec who are responsive, highly experienced, and can deliver technically advanced, cost-effective solutions. We are a mid-sized firm, focused entirely on delivering success to our customer's mission through smart, advanced technology."

Named a "Best in Class" contract for IT Solutions by the Office of Management and Budget (OMB), Alliant 2 was awarded to a "highly qualified pool of industry partners." The vehicle offers buying agencies access to a full range of solutions through a robust scope that is aligned with the Federal Enterprise Architecture (FEA) and the Department of Defense Enterprise Architecture (DoDEA).

"Alliant 2 is the largest and most important government IT services contract vehicle of the decade," said Josh Rubin, Sevatec's Chief Growth Officer. "GSA was looking for the ultimate combination of past performance and cutting-edge IT service capability. Sevatec's stellar reputation and past performance made us a top choice for Alliant 2, and we are extremely well-positioned to help federal customers realize their mission goals of increasing productivity and efficiency through modernization and best of breed solutions."

Of the 61 Alliant 2 contract winners, Sevatec is one of only 25 that did not previously hold a position on Alliant or Alliant Small Business. This achievement is indicative of the GSA's intent to improve agencies' access to leading-edge, next generation IT providers of proven reputation in the government contracting market.

About Sevatec

Sevatec is a leading national security firm specializing in Agile, DevSecOps, data sciences, cyber engineering, and cloud solutions. Founded in 2003 on the concept of "Seva," meaning "Inspired to Serve," our portfolio of mission-critical technology solutions focuses on solving the federal government's most pressing business and technical challenges.

Tailoring industry best practices to enhance team performance and deliver improved outcomes for our clients, our technical expertise and innovation solutions span the national security sector, including homeland and law enforcement agencies, Department of Defense, Department of Transportation, Department of State, and multiple civilian departments and agencies. The Sevatec mission captures the essence of our culture and focus on national security missions: "Trusted talent, inspired to serve, partnered with government, to protect and improve the lives of Americans."

To learn more about Sevatec, visit http://www.sevatec.com.

SOURCE Sevatec

Related Links

http://www.sevatec.com

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