Daily Archives: February 7, 2018

Lithium Werks Acquires Valence Technologies, Inc.

AUSTIN, Texas, Feb. 07, 2018 (GLOBE NEWSWIRE) — Lithium Werks B.V. (www.lithiumwerks.com), a fast growing lithium ion battery and portable power solutions group, announced today that they have acquired substantially all the assets of Valence Technologies, Inc. (www.valence.com) including the customer relationships, global manufacturing, sales and distribution locations along with all of Valence’s Proprietary Lithium Magnesium Iron Phosphate intellectual property (IP), trademarks, and inventory. The IP portfolio also includes patents on high voltage battery materials for potential future battery breakthroughs.

Lithium Werks B.V. with its subsidiaries in USA, Europe and China, intends to continue supplying the high quality Valence Modules and Battery Management System to global energy storage customers, as well as introduce new form factors and enhanced Battery Management Systems improving both energy and power densities while extending functionality.

“We are excited about the new opportunities that Valence provides to expand the Lithium Werks product offering for our customers,” said T. Joseph Fisher III, CEO, president and co-founder of Lithium Werks. “It’s a very complimentary fit with talented people, innovative technologies, world class lithium battery solutions and leading OEM customers.”

“This is the first acquisition of Lithium Werks and it immediately provides the company with a strong global presence,” said Knut H. Nylaende, chairman and co-founder. Nylaende is CEO of Xeilon AS a Norwegian private equity group that specializes in providing formation capital for companies with strong management teams and global opportunities. Xeilon led the funding of the transaction.

Valence Technologies, Inc. was originally formed in 1989 and is recognized as a global leader in Lithium Iron Phosphate cells, modules and scalable power systems, featuring long lasting, safe and reliable energy solutions. Valence was the first to introduce lead acid replacement batteries that featured Lithium Iron Phosphate chemistry positioning Lithium Werks to overtake traditional lead acid dominated industries such as material handling, UPS, and stationary energy storage.

For more information, please contact:

Mr. Christian F. Ringvold Mr. Knut H. Nylaende
EVP – Corporate strategy Chairman
Lithium Werks, Inc. Lithium Werks B.V.
+1 (512) 527-2900 +47 47 00 00 00
cringvold@lithiumwerks.com knut@moxie.no

NetSpeed and Synopsys Collaborate to Enable Early Architectural Exploration of Advanced ADAS and Datacenter SoCs

SAN JOSE, Calif., Feb. 07, 2018 (GLOBE NEWSWIRE) — NetSpeed Systems Inc. today announced a collaboration with Synopsys to enable generated RTL of NetSpeed’s interconnect IP to be used with Synopsys’ Platform Architect™ virtual prototyping solution. The collaboration enables the delivery of advanced interconnect solutions for leading advanced driver assistance systems (ADAS) and datacenter system-on-chips (SoCs) designs. The integrated solutions offer system designers the ability to simulate realistic system-level performance of their end product architectures.shutterstock_322710065_x

“As we have collaborated with industry leaders developing ADAS and datacenter SoCs, we recognize the challenge system designers and architects face to avoid late discovery of system performance and power problems, which can be costly in terms of both project schedules and budgets,” said Eshel Haritan, Vice President of R&D in the Synopsys Verification Group. “Our collaboration with NetSpeed enables these companies to validate system performance and functional safety for their SoC designs much earlier in the design process.”

Heterogeneous platform designs are becoming the norm for ADAS and data center SoCs because they offer higher performance and better power efficiency than multicore designs. However, heterogeneous designs are far more complex than multicore implementations due to the need to balance diverse processing and traffic needs.

To address the challenges of heterogeneous designs, NetSpeed offers a programmable, highly configurable cache coherent IP that enables SoC architects to create custom interconnect solutions to achieve optimal performance for their application. Synopsys, with its Platform Architect solution, offers system architects the ability to assemble and analyze system-level performance models before RTL is finalized.

“Performance and latency are two key metrics that must be validated early on for automotive and datacenter SoCs designs,” said Sundari Mitra, CEO of NetSpeed. “Coherency adds another dimension of complexity, as does functional safety in automotive SoCs which also must be verified. Our collaboration with Synopsys is an important step in ensuring leading-edge ADAS and data center OEMs are able to validate their designs quickly and easily.”

The collaboration between the two companies allows the generated RTL of NetSpeed’s interconnect to be easily imported into Synopsys’ Platform Architect environment for architecture analysis. System designers can assemble their design by combining the NetSpeed interconnect with traffic generators and architecture models available in the Platform Architect model library. This flow enables early analysis of end-application performance and allows for highly efficient optimization of heterogeneous system architectures early in the design and months before system software or RTL availability.

About NetSpeed Systems                                                     
NetSpeed Systems provides scalable, coherent on-chip network IPs to SoC designers for a wide range of markets from mobile to high-performance computing and networking. NetSpeed’s on-chip network platform delivers significant time-to-market advantages through a system-level approach, a high level of user-driven automation and state-of-the-art algorithms. NetSpeed Systems was founded in 2011 and is led by seasoned executives from the semiconductor and networking industries. The company is funded by top-tier investors from Silicon Valley. It is based in San Jose, California and has additional research and development facilities in Asia. For more information, visit www.netspeedsystems.com.

Press Contact:
NetSpeed Newsroom
Pauline Shulman
415-375-0303
pauline@pshulman.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4485af62-e4ea-465e-b95c-1194a857499b

Cadence and NetSpeed Collaborate to Optimize Advanced Automotive SoC Designs

SAN JOSE, Calif., Feb. 07, 2018 (GLOBE NEWSWIRE) — Cadence Design Systems, Inc. (NASDAQ:CDNS) and NetSpeed Systems Inc. announced today a collaboration that enables highly optimized and validated interconnect IP solutions for customers developing advanced SoCs for AI and autonomous driving applications. Cadence’s Interconnect Workbench will now include support for performance analysis of NetSpeed IP to give customers a faster and easier way to configure their IP and optimize their SoCs to meet performance requirements.随着ADAS技术成熟,制造商将他们的关注点扩展至传感器技术以外,希望纳入更多AI能力。

As ADAS technology matures, manufacturers are extending their focus beyond sensor technology and looking to bring more AI capability onboard. There is a growing realization that key AI functions need to reside on the vehicle platform. This is because it is too risky to have to depend on the availability of a network connection and uninterrupted access to services on the cloud for mission-critical capabilities.

“The development of advanced driver-assistance systems puts intense pressure on designers to meet the increasing demand for high performance in-vehicle computation,” said Mike Demler, senior analyst at the Linley Group.  “To meet these requirements, emerging SoC designs must combine real-time processing with machine learning accelerators running complex AI algorithms, which requires the implementation of high-performance heterogeneous architectures.”

“The problem is that heterogeneous platform designs are far more complex than multicore implementations due to the need to balance diverse processing and traffic needs,” said Sundari Mitra, NetSpeed’s CEO. “At NetSpeed we are using algorithmic methods and applying machine learning technology to make the problem much more manageable for the architect by offering them the best interconnect solutions to choose from. By partnering with Cadence, we are making it much easier and faster for customers to verify their solutions.”

“We have multiple customers at the leading-edge in the automotive market who are using both Interconnect Workbench and NetSpeed’s interconnect,” said Steve Brown, product marketing director at Cadence. “So, it’s been a priority for Cadence to work with NetSpeed to deliver a plug-and-play system-level verification solution.”

NetSpeed offers a programmable and highly configurable, cache coherent IP that enables SoC architects to create custom interconnect solutions that achieve the ultimate performance for their heterogeneous designs. Cadence offers its Interconnect Workbench, a unique tool that automatically generates a Universal Verification Methodology (UVM) environment, provides functional coverage and offers cycle-accurate performance analysis of interconnect throughout the SoC.

About Cadence
Cadence enables electronic systems and semiconductor companies to create the innovative end products that are transforming the way people live, work and play. Cadence software, hardware and semiconductor IP are used by customers to deliver products to market faster. The company’s System Design Enablement strategy helps customers develop differentiated products—from chips to boards to systems—in mobile, consumer, cloud datacenter, automotive, aerospace, IoT, industrial and other market segments. Cadence is listed as one of Fortune Magazine’s 100 Best Companies to Work For. Learn more at www.cadence.com.

About NetSpeed Systems                                                                                           
NetSpeed Systems provides scalable, coherent on-chip network IPs to SoC designers for a wide range of markets from mobile to high-performance computing and networking. NetSpeed’s on-chip network platform delivers significant time-to-market advantages through a system-level approach, a high level of user-driven automation and state-of-the-art algorithms. NetSpeed Systems was founded in 2011 and is led by seasoned executives from the semiconductor and networking industries. The company is funded by top-tier investors from Silicon Valley. It is based in San Jose, California and has additional research and development facilities in Asia. For more information, visit www.netspeedsystems.com.

Press Contact:
Cadence Newsroom
408-944-7039
newsroom@cadence.com

NetSpeed Newsroom
Pauline Shulman
415-375-0303
pauline@pshulman.com

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1e663dcd-bdde-4c84-9453-8c2773668383

GLOBAL INFRASTRUCTURE PARTNERS ANNOUNCES AGREEMENT TO ACQUIRE NRG ENERGY, INC.’S RENEWABLE ENERGY BUSINESS, INCLUDING:

THE CONTROLLING STAKE IN NRG YIELD AND RENEWABLES OPERATIONS & MAINTENANCE AND DEVELOPMENT BUSINESSES

New York, Feb. 07, 2018 (GLOBE NEWSWIRE) — Global Infrastructure Partners (GIP), a leading global, independent infrastructure investor, announced today that its third equity fund, Global Infrastructure Partners III, has agreed to acquire NRG Energy, Inc.’s (NYSE: NRG) integrated U.S. renewable energy platform, including its controlling stake and 46% economic interest in NRG Yield, Inc. (NYSE: NYLD; market capitalization: $3.2 billion) as well as NRG’s renewable energy operations and maintenance (“O&M”) and development businesses. GIP is acquiring the business for $1.375 billion in cash, subject to certain adjustments. In addition, GIP has agreed to provide backstop support for NYLD’s agreed purchase of the Carlsbad Energy Center project.

NYLD has the largest project portfolio (by installed capacity) among U.S. power “yieldcos” and is the second largest by enterprise value and market capitalization. NYLD’s operating power plant capacity totals 5.1 gigawatts (“GW”, or thousands of megawatts “MW”) and is diversified across wind, solar, and natural gas technologies. The company also owns thermal infrastructure assets with an aggregate steam and chilled water capacity of 1,319 net MWt and electric generation capacity of 123 net MW, servicing commercial businesses, universities, hospitals and government customers. A substantial portion of NYLD’s project portfolio benefits from long-term contracts with a weighted average remaining contract life of 16 years.

In addition to NRG’s interests in NYLD, GIP will acquire NRG’s renewable O&M and development businesses. NRG’s renewable O&M platform operates 2.4 GW of renewable power generation in 17 states. NRG’s renewable development platform includes 630 MW of identified “dropdown” assets, which are subject to a right of first offer from NYLD, and it has a total project pipeline of over 6.4 GW of renewable generation opportunities across the U.S. (as last disclosed publicly by NRG).

GIP has a demonstrated track record of investment and value creation in the renewable energy sector, and this investment fits squarely into GIP’s global renewables investment strategy. GIP has invested or committed approximately $9 billion of equity in the sector, including 8 GW of operating renewable assets and over 14 GW of renewable assets under construction or in development.

Adebayo Ogunlesi, Chairman and Managing Partner of GIP, said, “We are excited to announce the acquisition of NRG’s world-class renewables business. We view each of the three acquired businesses – the NYLD stake, the O&M business, and the development business – as highly complementary and well positioned to capitalize on the increasing market demand for low cost, clean energy. We look forward to working with management to develop new renewable generation assets and to supporting the company with our deep operating and financial expertise in the sector. We are also excited about the opportunity to grow the value of NYLD, which allows public market investors to access attractive investments in renewable energy.”

In addition to acquiring the business and assuming sponsorship of NYLD, GIP has made several significant commitments to facilitate the transaction, including arranging a $1.5 billion backstop credit facility to mitigate any change-of-control risk with NYLD’s existing corporate debt and committing up to $400 million to backstop NYLD’s acquisition of the 527 MW Carlsbad natural gas project in California from NRG. The commitment to the Carlsbad project, which remains subject to certain terms and conditions, ensures a timely acquisition in the event that NYLD is unable to raise efficient third-party capital to purchase the project.

Christopher Sotos, President and Chief Executive Officer of NYLD said, “Under NRG Energy’s sponsorship, since its IPO in July 2013, NYLD has experienced tremendous success with an increase of 186% in cash available for distribution from $91 million to $260 million and an expansion of NYLD’s quarterly dividend per share by 150% to $1.15 per share annualized at the end of 2017.” Mr. Sotos continued, “With today’s announcement, NYLD can look forward to its next phase of growth, including solidifying near-term objectives through the most recent drop down transactions and, most importantly, aligning with GIP, whose strategy and breadth of global investment capabilities are well suited to our business model and long-term objectives.”

The Transaction is subject to customary closing conditions and is expected to close in the second half of 2018.

About NRG Yield

NRG Yield owns a diversified portfolio of contracted renewable and conventional generation and thermal infrastructure assets in the United States, including fossil fuel, solar and wind power generation facilities that have the capacity to support more than two million American homes and businesses. Its thermal infrastructure assets provide steam, hot and/or chilled water, and in some instances electricity, to commercial businesses, universities, hospitals and governmental units in multiple locations. NRG Yield’s Class C and Class A common stock are traded on the New York Stock Exchange under the symbols NYLD and NYLD.A, respectively.

About Global Infrastructure Partners

Global Infrastructure Partners is an independent infrastructure fund that invests in infrastructure assets and businesses in both OECD and select emerging market countries. GIP targets investments in single assets and portfolios of assets and companies in power and utilities, natural resources infrastructure, air transport infrastructure, seaports, freight railroad, water distribution and treatment and waste management. GIP has offices in New York and London, with an affiliate in Sydney and portfolio company operations headquarters in Stamford, Connecticut. For more information, visit www.global-infra.com

Jack Cowell
Global Infrastructure Partners
212 315 8133
Jack.Cowell@global-infra.com

Nasdaq to Move Global Headquarters to 4 Times Square

The Company Signs 145,000 Square Foot Lease with The Durst Organization at 4 Times Square

A new 10th floor, outdoor terrace will be created above the world-famous Nasdaq Tower overlooking Times Square

NEW YORK, Feb. 07, 2018 (GLOBE NEWSWIRE) — Nasdaq, Inc. (NASDAQ:NDAQ) today announced it is relocating its global headquarters from downtown Manhattan to its current Nasdaq MarketSite location at The Durst Organization’s 4 Times Square. Highlights of the new agreement include the following:MID, Nasdaq MarketSite

  • The deal with The Durst Organization more than quintuples Nasdaq’s existing footprint at the property.
  • The 10th floor will be home to a state-of-the-art event space as an extension of the Nasdaq MarketSite and feature a 2,100 square foot outdoor terrace overlooking Times Square, above the world-famous Nasdaq Tower, for Nasdaq clients and prospects with the capacity to host more than 400 people for corporate events.
  • The 15-year lease for 145,000 square feet, includes an extension of the current 24,000 square foot MarketSite lease.

“Since our beginning, Nasdaq has played a major role in the growth of corporate America by providing a seamless platform to raise capital through the public markets. Throughout the decades, we have expanded our business and brand globally and our technology now powers more than 90 marketplaces around the world,” said Adena Friedman, President and Chief Executive Officer, Nasdaq. “Bringing together our New York employees at our new headquarters allows us to continue to focus on the client experience and further collaborate as a team on new and innovative solutions that meet our clients’ most critical needs.  This increased presence in the iconic Times Square, New York, will further drive our brand forward, and will offer an unparalleled experience for our clients for years to come.” MongoDB Nasdaq Tower

“As one of the building’s original tenants when it opened in 1999, we are pleased Nasdaq has chosen to consolidate their corporate headquarters, and bring their leadership team, to 4 Times Square,” said Jonathan (Jody) Durst, President of The Durst Organization. “Nasdaq is one of the world’s most innovative and dynamic exchanges and a recognized global leader in financial technology, and we are excited they have decided to continue to partner with us and grow their business for the 21st Century at 4 Times Square.”

Nasdaq’s new global headquarters will remain the center for companies that want to take advantage of its world class location which includes:

  • The Opening and Closing Market Bell ceremonies at the Nasdaq MarketSite in New York City’s Times Square;
  • The Nasdaq MarketSite has an exclusive event space that will expand to host a variety of corporate and industry events;
  • Recently enhanced broadcast and media correspondence facilities allow for company brand and executive visibility strategies through organized interviews and press briefings with global news outlets;
  • Multiple Nasdaq Tower and Nasdaq Marquee advertising opportunities; and,
  • The home to the Market Intelligence Desk that consists of a team of market professionals, all working to keep clients on top of the market with up-to-the-minute analysis and information.

The three-year MarketSite expansion and relocation initiative will commence construction this summer and is slated for completion in December 2021, with phased move-ins beginning in spring 2019.

4 Times Square has recently undergone a $140 million capital improvement program.  The 45,600 square foot amenity floor, featuring a café and coffee bar run by Michelin Star Chef Claus Meyer and first-class conference, meeting and event spaces managed by Convene, will open to tenants and their guests later this year.PepsiCo listing on Nasdaq

The Durst Organization has already leased over half of the space formerly occupied by Condé Nast.  The Nasdaq deal marks the first of the building’s upper floors to be leased prior to Skadden, Arps, Slate, Meagher & Flom’s departure in 2020.

About Nasdaq
Nasdaq (Nasdaq:NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today’s global capital markets. As the creator of the world’s first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world’s securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: http://business.nasdaq.com.Stitch Fix Bell Ceremony

About The Durst Organization

The Durst Organization, founded in 1915 by Joseph Durst, is the owner, manager and builder of 13 million square feet of premiere Manhattan office towers and 1,950 residential rental units with 3,400 in development. The Durst Organization is recognized as a world leader in the development of high-performance and environmentally advanced commercial and residential buildings.  www.durst.org

NDAQG

CONTACT:
Jordan Barowitz
The Durst Organization
212/257-6605
jbarowitz@durst.org

Allan Schoenberg
Nasdaq, Inc
212/231-5534
allan.schoenberg@nasdaq.com

Emily Pan
Nasdaq, Inc
646/441-5120
emily.pan@nasdaq.com

Photos accompanying this announcement are available at:
http://www.globenewswire.com/NewsRoom/AttachmentNg/f14e710f-29ec-4143-a46d-e0fffaf11f37
http://www.globenewswire.com/NewsRoom/AttachmentNg/8220fa17-9c63-43c5-a361-dd164a9b41e5
http://www.globenewswire.com/NewsRoom/AttachmentNg/6cc6d1d2-9912-4869-8b4b-caec03ff1294
http://www.globenewswire.com/NewsRoom/AttachmentNg/01206e0e-1288-4c95-a130-480b65427656

Server–Side Exploits Dominate Threat Landscape and OT Vulnerabilities Rise 120 Percent Says Skybox Security’s Inaugural Vulnerability and Threat Trends Report

Analysis of 2017 threat landscape trends shows that assets most difficult to patch are increasingly vulnerable

SAN JOSE, Calif., Feb. 07, 2018 (GLOBE NEWSWIRE) — Skybox™ Security, a global leader in cybersecurity management, announced today the release of its inaugural Vulnerability and Threat Trends Report, which analyzes vulnerabilities, exploits and threats in play in 2017. The report, compiled by the team of research analysts at the Skybox Research Lab, aims to help organizations align their security strategy with the reality of the current threat landscape.

A trend observed for the last several years has seen threat actors turn cybercrime into a money–making machine. An integral part of this approach means taking the path of least resistance: leveraging existing attack tools rather than developing new ones, using the same attack on as many victims as possible and targeting “low–hanging fruit.” Findings of the report shed light on how those “fruits” have changed to include the assets that are generally more difficult to patch.

During 2017, the vast majority of exploits affected server–side applications (76 percent), up 17 points since 2016. Skybox Security Chief Technology Officer Ron Davidson points out that dealing with server–side vulnerabilities is always more difficult because the higher–value assets require more consideration than simply if there is a patch available or not. “As more functions rely on servers than on clients,” he explains, “organizations need to have the means to understand these server–side vulnerabilities in context — of the asset criticality, the surrounding topology and security controls, and the exploit activity in the wild. Only then can they accurately decide the optimal patching priority and schedule.”

The increase in server–side exploits corresponds with the continued decline in the use of exploit kits relying on client–side vulnerabilities, which accounted for only a quarter of exploits in the wild that year. This is due in part to the demise of major exploit kit players like Angler, Neutrino and Nuclear, with no comparable frontrunner rising to replace them.

“This does not mean, however, exploit kits are gone,” said Marina Kidron, senior security analyst and group leader of the Skybox Research Lab. “If there’s one thing we know about cybercriminals, it’s that they’re constantly changing tactics, and so the next ‘exploit kit giant’ is very likely in development as we speak. We also suspect that some kits have ‘gone private,’ and are used exclusively by their developers in hopes of prolonging their viability.”

Instances of newly–published sample exploit code have also increased, with the monthly average jumping 60 percent in 2017. With minimal adjustments — or none at all — attackers can turn these samples into fully functioning exploits for their own use. This scenario was the case with the NSA EternalBlue exploit leaked by The Shadow Brokers and used in the WannaCry and NotPetya attacks, among others. Such leaks are putting advanced attack tools in the hands of lower–skilled cyberattackers, enhancing the capabilities of an already well–outfitted threat landscape.

“Organizations need to stay up to speed with not only active exploits in the wild,” said Kidron, “but also factor in vulnerabilities with available exploit code to their prioritization processes. While the latter set doesn’t represent an imminent threat, they can make the jump to active exploitation very quickly — security teams need actionable intelligence at–the–ready when they do.”

The report also shows that in 2017 there was a 120–percent increase in new vulnerabilities specific to operational technology (OT) compared to the previous year (OT includes monitoring and control devices common in critical infrastructure organizations such as energy producers, utilities and manufacturers, among others). This spike is particularly concerning as many organizations have poor or non–existent visibility of the OT network, especially when it comes to vulnerabilities as active scanning is generally prohibited.

“OT is too often in the dark, and that means security management isn’t getting the full picture of cyber risk in their organization,” said Kidron. “Even when patchable vulnerabilities are identified, OT engineers are understandably hesitant to install the update, as it could disrupt services, cause equipment damage or even risk life and limb. Organizations with OT networks need to have strategies in place not just for OT vulnerability assessment and patching prioritization, but also to unify such processes with those in the IT network to truly understand and manage risk.”

Overall, new vulnerabilities catalogued by MITRE’s National Vulnerability Database doubled in 2017. The jump was largely due to organizational improvements at MITRE and increased security research by vendors and third–parties, including vendor–sponsored bug bounty programs. The result is more than 14,000 newly assigned CVEs. Whatever the reason, it introduced yet more challenges to the teams responsible for managing vulnerabilities. “In 2017, if you were still relying on traditional prioritization methods like CVSS scores only, your laundry list just got longer,” said Davidson. “In the year ahead, we may well see an even higher figure. Organizations have got to take a drastically different approach to vulnerability management.”

Skybox recommends establishing a threat–centric vulnerability management (TCVM) program to adapt to these changes in the threat landscape and those yet to come. The TCVM approach helps security practitioners focus on the small subset of vulnerabilities most likely to be used in an attack by analyzing them from the interconnected perspectives of the business, network and threats in play.

To read the full report, click here. To learn more about Skybox TCVM, visit skyboxsecurity.com/tcvm.

About Skybox Research Lab
The Skybox™ Research Lab is team of security analysts who daily scour data from dozens of security feeds and sources as well as investigate sites in the dark web. The Research Lab validates and enhances data through automated as well as manual analysis, with analysts adding their knowledge of attack trends, cyber events and TTPs of today’s attackers. Their ongoing investigations determine which vulnerabilities are being exploited in the wild and used in distributed crimeware such as ransomware, malware, exploit kits and other attacks exploiting client– and server–side vulnerabilities.

For more information on the methodology behind the Skybox Research Lab and to keep up with the latest vulnerability and threat intelligence, visit www.vulnerabilitycenter.com.

About Skybox Security
Skybox provides the industry’s broadest cybersecurity management platform, delivering comprehensive attack surface visibility. Skybox delivers the context needed to quickly identify and fix vulnerabilities and security weaknesses within large, complex networks — including physical, virtual, multi–cloud and OT environments.  The Skybox™ Security Suite integrates with more than 120 networking and security technologies to give insight on how to improve efficiency and effectiveness of vulnerability and threat management and firewall and security policy management.

© 2018 Skybox Security, Inc. All rights reserved. Skybox Security and the Skybox Security logo are either registered trademarks or trademarks of Skybox Security, Inc., in the United States and/or other countries. All other trademarks are the property of their respective owners. Product specifications subject to change at any time without prior notice.

CONTACT INFORMATION

Skybox Security
Tawnya Lancaster
Director of Brand and Communications
408-205-1618 | Tawnya.lancaster@skyboxsecurity.com

OneChocolate for Skybox Security
North America: Brian Blank
1-415-606-8381 | brianb@onechocolatecomms.com

United Kingdom: Daniel Couzens
+44 (0)20 7437 0227 | DanielC@onechocolatecomms.co.uk

Germany: Melanie Grasser
+49 (0)89 3888 920 10 | MelanieG@onechocolatecomms.de

France: Xavier Delhôme
+33 1 41 31 75 09 | xavier@onechocolate.fr

Algeco Scotsman Announces Pricing of Notes Offering

BALTIMORE, Feb. 06, 2018 (GLOBE NEWSWIRE) — Algeco Scotsman Global S.à r.l. (“A/S Global” and, together with its subsidiaries, “Algeco Scotsman”), today announced that it has successfully priced a notes offering by two of its affiliates.

Algeco Scotsman Global Finance plc priced its offering of senior secured notes (the “Senior Secured Notes”) which consist of the following tranches:

  • €600,000,000 Senior Secured Fixed Rate Notes due 2023, to be issued with a coupon of 6.50% per annum and a yield to maturity of 7.00%;
  • $520,000,000 Senior Secured Fixed Rate Notes due 2023, to be issued with a coupon of 8.00% per annum and a yield to maturity of 8.50%; and
  • €150,000,000 Senior Secured Floating Rate Notes due 2023, to be issued with a coupon of EURIBOR plus 625 bps per annum.

Algeco Scotsman Global Finance 2 plc priced its offering of $305,000,000 aggregate principal amount Senior Notes due 2023 (the “Senior Notes” and, together with the Senior Secured Notes, the “Notes”). The Senior Notes priced with a coupon of 10.00% per annum and a yield to maturity of 11.50%.

The proceeds of the Notes, together with proceeds from an equity contribution, borrowings under a new asset-based loan facility and cash on hand, will be used, among other things, to repay existing indebtedness, including all indebtedness outstanding under Algeco Scotsman’s existing asset-based loan facilities agreement, existing senior secured notes and existing senior unsecured notes.

The closing of the sale of the Notes is scheduled to be completed on February 15, 2018, and is subject to customary conditions.

The Notes are being offered in a private placement transaction to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

About Algeco Scotsman

Algeco Scotsman is the leading global business services provider focused on modular space,  secure portable storage solutions, and remote workforce accommodation management. Headquartered in Baltimore, Algeco Scotsman has operations in 24 countries with approximately 245,000 modular space and portable storage units and 11,400 remote accommodations rooms. The company operates as Target Logistics in North America, Algeco in Europe, Elliott in the United Kingdom, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

Cautionary Notice Regarding Forward Looking Statements

This press release contains statements reflecting assumptions, expectations, projections, intentions or beliefs about future events that are intended as “forward-looking statements,” particularly those statements concerning expectations regarding the use of proceeds from the offering. A number of risks and uncertainties could cause our actual results to differ materially from current projections, forecasts, estimates and expectations relating to us. Any or all of these forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, many of which are beyond our control.

Disclaimer

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Important Regulatory Notice

This announcement contains information that prior to its disclosure may have constituted inside information under European Union Regulation 596/2014 on market abuse.

Investor Relations Contact

Scott Shaughnessy
Vice President, Finance
Algeco Scotsman
+1 410-933-5921
Scott.Shaughnessy@as.willscot.com