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BT helps customers accelerate towards a circular economy

BT Group

BT today announced a new programme aimed at reducing business customers’ e-waste by recycling end-of-life equipment and helping them achieve their targets for a circular economy. It is the latest step in BT Group’s Manifesto pledge to move to circular products, networks and operations by 2030, and then extend this across its supply chain by 2040. The new programme comes as organisations around the world are transforming their network and IT infrastructure to support the latest multi-cloud deployments. As part of this transformation, BT environmental specialists will work with customers to better understand and map the role of sustainability in a digital world. Replaced or decommissioned electronic equipment from a customer’s network will be shipped back to Cisco to be responsibility re-used or recycled through its takeback and reuse programme. Up to 99.9 per cent of what is returned will be re-used or recycled. BT has Cisco-certified environmental specialists in the UK, US, Italy, Ireland, Switzerland and Singapore to manage the process. Further countries will be added by end of 2022. The programme adds to BT’s existing take-back and reuse services for smartphones providing an easy way to upgrade, securely dispose and recycle the devices using a single, complete solution that handles everything. According to the World Economic Forum (WEF), 57.4 million tonnes of e-waste was generated during 2021 with only 20 per cent recycled. If left unchecked, this could rise to 120 million tonnes each year. WEF also reported that 70 per cent of hazardous waste deposited in landfills is from e-waste. “E-waste is a growing concern and according to WEF now the fastest-growing waste stream in the world. Our customers and partners have made commitments to report on and improve performance in this critical area,” said Hriday Ravindranath, chief product & digital officer at BT’s Global unit. “Creating a more sustainable, circular economy, where we prioritise dematerialisation and avoid equipment going to landfill, is vital. It builds on our leadership in sustainability and will help deliver on our BT Group Manifesto commitments and ambition to connect for good.” ENDS About BT Group BT Group is the UK’s leading provider of fixed and mobile telecommunications and related secure digital products, solutions and services. We also provide managed telecommunications, security and network and IT infrastructure services to customers across 180 countries. BT Group consists of four customer-facing units: Consumer serves individuals and families in the UK; Enterprise and Global are our UK and international business-focused units respectively; Openreach is an independently governed, wholly owned subsidiary, which wholesales fixed access infrastructure services to its customers - over 650 communication providers across the UK. For the year ended 31 March 2022, BT Group’s reported revenue was £20,850m with reported profit before taxation of £1,963m. British Telecommunications plc is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on the London Stock Exchange. For more information, visit www.bt.com/about Contact Details Kim Kennedy kim.kennedy@ccgrouppr.com Company Website https://www.bt.com

October 05, 2022 04:00 AM Eastern Daylight Time

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Oasys Forms Strategic Partnership with tofuNFT to Expand its Gaming Ecosystem

Oasys

SINGAPORE - Media OutReach - 5 October 2022 - Oasys, a blockchain developed specifically for the gaming community, today announced a strategic partnership with tofuNFT, the largest multi-chain, GameFi-focused NFT marketplace, to expand the Oasys gaming ecosystem. NFT marketplaces are the bedrock of blockchain gaming. As a two-layer blockchain, Oasys plays a critical role in the blockchain gaming industry's development, with future gaming projects likely to be built on "Verse", the gaming-focused Layer-2 on Oasys. Each Verse is expected to develop its own independent ecosystem, and integrating an NFT marketplace is one of the most essential components in expanding the blockchain gaming ecosystem. As part of the strategic partnership, tofuNFT will integrate with all of the Verses on Oasys. This integration provides Oasys ready access to tofuNFT's expansive ecosystem, by virtue of their position as the largest multi-chain NFT marketplace, whose volume primarily comes from GameFi-related projects. Daiki Moriyama, Director, Oasys, said: "Through our partnership with tofuNFT, we envisage bringing together both gaming communities and blockchain gaming ecosystems to usher in the next phase of the industry's growth. It is incredibly exciting to be joining hands with a partner who has deep GameFi expertise and an extensive network, as we collectively shape the industry's future and work towards a shared goal of driving the mass adoption of blockchain technology." Yu Numazaki, Co-founder of tofuNFT, added: "We are thrilled to be collaborating with Oasys as it continues to grow from strength to strength, and increasingly onboards more and more Layer-2 blockchain gaming projects. With NFT marketplaces functioning as a key defining feature of blockchain games, we look forward to leveraging Oasys' deep ties with traditional gaming institutions and offering our solutions to encourage the uptake of blockchain gaming." Oasys' partnership with tofuNFT comes on the back of a recent announcement of Square Enix's participation as the final initial validator on the Oasys blockchain, as well as other strategic collaborations with industry movers in the gaming and blockchain space such as Mythical Games and ConsenSys. In July 2022, Oasys also announced a successful USD20 million Private Token Sale round led by Republic Capital, with participation from other industry heavyweights such as Jump Crypto, Crypto.com, Huobi, Kucoin, Gate.io, bitbank and Mirana Ventures. With backing from significant players in the industry, Oasys will continue to focus on improving user experience and championing the mass adoption of blockchain technology in the gaming sector and beyond as it gears up towards a Mainnet launch in October this year. About Oasys Oasys was established in February 2022 to increase mainstream play-and-earn adoption, and at launch, committed to partnering with 21 gaming and Web3 tech companies to act as validators, such as Bandai Namco Research, SEGA, Ubisoft and Yield Guild Games. Led by a team of blockchain experts and joining forces with the biggest gaming company names to serve as the initial validators, Oasys is revolutionising the gaming industry with its Proof-of-Stake (PoS) based eco-friendly blockchain. With a focus on creating an ecosystem for gamers and developers to distribute and develop blockchain-based games, Oasys solves the problems game developers face when building games on the blockchain. The trifecta approach of the fastest network powered by the gaming community, a scalable network powered by AAA game developers and the blockchain offering the best user experience with fast transactions and zero gas fees for users, readies participants to enter the Oasys and play. For more information, please visit: https://www.oasys.games/ About tofuNFT tofuNFT (tofuNFT.com) is the largest multi-chain NFT marketplace that lives on 30+ EVM-compatible public chains and most of volume comes from GameFi. It started in Oct 2021 on BSC and has been the largest since December. We've also already become the largest NFT marketplace on Arbitrum, Metis, Boba, Aurora, Moonbeam, Astar and are among the top 3 on Avalanche, Polygon, Fantom, Cronos, Optimism and other chains. In Sep 2022, we formed a strategic partnership with X2Y2, the world's highest volume NFT marketplace. For more information, please visit: https://tofunft.com/ Contact Details Vanessa Low oasys@wachsman.com Company Website https://www.oasys.games/

October 04, 2022 09:41 PM Eastern Daylight Time

Electrovaya To Build Its First U.S. Gigafactory in New York State, To Open In Phases Starting In Late 2023

Electrovaya Inc.

Electrovaya Inc. ELF:TO EFLVF recently announced that it has selected New York State as the location for its first U.S. gigafactory (the “Gigafactory”), for the production of cells and batteries. Electrovaya will set up operations at a 137,000-square-foot plant on a 52-acre campus near Jamestown, NY. The Company is developing the Gigafactory due to rising demand for its lithium-ion batteries, which provide superior safety and longevity in demanding applications for e-forklifts, e-trucks, e-robots, e-buses and more. Dr. Raj Das Gupta, CEO of Electrovaya, said: “Electrovaya is proud to build our first U.S. gigafactory in New York State to manufacture our high-performance lithium-ion battery products with 100% renewable energy. We are very pleased to have strong support from the State for this venture and expect to continue to find additional non-dilutive funding to support capital needs.” “The Gigafactory will achieve three key objectives for the Company: Increase our manufacturing capacity to meet growing demand, improve our supply chain security and overall gross margins through added vertical integration, and develop additional market opportunities given the significant U.S.-based manufacturing capacity,” continued Dr. Das Gupta. Empire State Development (ESD) is assisting the project by providing up to $4 million of tax credits through the performance-based Excelsior Jobs Program, and $2.5 million of funding through the Regional Council Capital Fund Program. The Gigafactory will be located in a former electronics manufacturing facility and is expected to create approximately 250 new jobs, with expected production of more than one GWh of battery and energy storage systems over the next five years. Electrovaya will also be eligible for other New York State funds, as well as U.S. federal funding from various agencies and programs. In July, the New York Power Authority Board of Trustees approved an allocation of more than 1.5 megawatts of low-cost hydropower under the Power Authority’s Industrial Economic Development program to meet the increased electric load resulting from the Gigafactory. The final capital cost of the facility is estimated at approximately $75 million, and it is expected to open in phases starting in late 2023. About Electrovaya Inc.Electrovaya Inc. (TSX:EFL) (OTCQB:EFLVF) is a pioneering leader in the global energy transformation, focused on contributing to the prevention of climate change by supplying safe and long-lasting lithium-ion batteries without compromising energy and power. Electrovaya is a technology-focused company with extensive IP, designs, develops, and manufactures proprietary lithium-ion batteries, battery systems, and battery-related products for energy storage, clean electric transportation, and other specialized applications. Company's Infinity line of batteries is focused on commercial vehicles and its Solid State Technology under Development is focused on passenger vehicles. To learn more about how Electrovaya is powering mobility and energy storage, please explore www.electrovaya.com. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Electrovaya Inc. Jason Roy +1 905-855-4618 jroy@electrovaya.com Company Website https://electrovaya.com

October 04, 2022 04:01 PM Eastern Daylight Time

The Channel Company Announces Acquisition of Technology Marketing Agency Lauchlan

The Channel Company

The Channel Company, global provider of news, insights, strategy, events, and marketing services for the technology industry, announces the acquisition of Lauchlan, a U.S. based global marketing agency dedicated to the technology industry. This strategic acquisition will continue to expand marketing agency services capabilities, scale creative and digital services globally and accelerate time to market for clients. Lauchlan’s marketing agency services include comprehensive marketing support, campaign creation, program execution, customized leads management and in-depth reporting to maximize IT channel marketing investment, creating a complimentary fit to continue scaling The Channel Company’s marketing services delivery capability worldwide. “The acquisition of Lauchlan, in addition to global services organization bChannels and Incisive Media’s Technology Group brands earlier this year, is another step towards our vision of becoming the leading global provider of innovative marketing services for the technology industry. We continue to invest in high-value areas that will scale and expand our capabilities to drive greater outcomes for our clients anywhere they are in the world,” said Blaine Raddon, CEO of The Channel Company. The organizations share synergies with their go-to-market strategies, technology industry expertise and agency delivery models as well as a common culture of driving client outcomes, strategic company growth and continued career development opportunities for employees. The combined strengths of the two organizations will provide immediate revenue and client expansion opportunities. Clients of Lauchlan will benefit from the extensive platform of additional marketing, events, communities, consulting, and data services that The Channel Company offers while clients of The Channel Company will have access to a broader range of marketing services to accelerate their business outcomes and investment return. The collective delivery model will continue to scale globally to deliver solutions across The Channel Company’s platform in all major regions. “Joining forces with the most respected technology channel marketing and services provider in our industry represents tremendous opportunities for our technology clients, partners, and employees. Lauchlan agency’s deep, creative development and execution capabilities paired with the depth and breadth of services available through The Channel Company allows us to provide the industry with a truly unprecedented suite of solutions for direct, and channel partner marketing on a global scale,” said Kathleen Lauchlan, CEO of Lauchlan agency. Lauchlan’s M&A advisor was Supporting Strategies and legal advisor was Bernstein Shur. The Channel Company received legal advice from Jones Day and due diligence advice from Alvarez & Marsal. About The Channel Company Headquartered in Westborough, MA, The Channel Company has been servicing the technology channel community for over 40 years. From CRN, the #1 source of technology news, insights, and analysis for the IT channel, to industry-leading events that connect clients to customers, to powerful research, consulting and engaging education to accelerate growth, to transformative marketing services to maximize investment, The Channel Company provides a full suite of outcome-driven services focused on addressing the channel’s unique needs worldwide. The Channel Company is a portfolio company of investment funds managed by EagleTree Capital, a New York City-based private equity firm. www.thechannelco.com About EagleTree Capital EagleTree Capital is a leading New York-based middle-market private equity firm that has completed over 35 private equity investments and more than 75 add-on transactions over the past 20+ years. EagleTree primarily invests in North America in the following sectors: media and business services, consumer, and water and specialty industrial. For more information, visit www.eagletree.com or find EagleTree on LinkedIn. About Lauchlan Founded in 2009, Lauchlan is a US-based, full-service agency dedicated to helping global technology marketers and their channel partners execute strategic, multi-touch, omni-channel marketing activities aimed at accelerating pipeline opportunities. Lauchlan's services provide comprehensive technology-focused marketing support, campaign creation, turnkey program execution, lead generation campaigns, live and online events, digital go-to-market strategies and in-depth ROI reporting. The agency’s dedicated team of marketing professionals is singularly focused on delivering optimal performance metrics while maximizing marketing development funds. www.lauchlanx.com Contact Details The Channel Company Corporate Communications +1 508-531-9172 corporatecommunications@thechannelcompany.com Company Website https://www.thechannelcompany.com

October 04, 2022 03:00 PM Eastern Daylight Time

Industrial Defender Appoints Gabe Authier as Chief Product Officer

Industrial Defender

Industrial Defender, a leader in operational technology (OT) cybersecurity solutions, today announced the appointment of Gabe Authier as CPO. This addition strengthens the company’s bench of technical executives and positions it for success in 2023 and beyond. Authier has held product management roles at both Tripwire and Belden, and his comprehensive knowledge of the industrial cybersecurity space and cloud-native solutions will further enrich Industrial Defender’s product development roadmap. “Industrial Defender continues to add incredible new talent to the team. Gabe’s experience architecting customer-centric product roadmaps, building cloud-native technologies and creating innovative solutions for the industrial space aligns well with our organizational goals,” said Jay Williams, CEO of Industrial Defender. “I am confident he will be an essential contributor to our continued success as a global leader in OT cybersecurity solutions.” “We see a massive opportunity right now to help critical infrastructure companies mature their cybersecurity programs beyond basic visibility solutions. Identifying, monitoring and managing asset data from a single tool is the next generation of OT security,” said Authier. “I couldn’t be more excited about the opportunity to shape Industrial Defender into the go-to OT data platform for the future.” Authier brings over 20 years of experience in product management and information technology and is passionate about customer-centric software development. He holds a BS in Systems Engineering from University of Arizona and an Executive MBA from the University of Oregon. About Industrial Defender Industrial Defender protects the world’s critical infrastructure from cyberattacks. As a leader in OT cybersecurity innovation, the company’s scalable platform is used by organizations around the world to empower security stakeholders with actionable data from their OT and IIoT infrastructure, enabling them to make informed risk management decisions and manage their OT cybersecurity program in a concise, single vendor dashboard. Learn more at www.industrialdefender.com. Contact Details Industrial Defender Erin Anderson +1 617-675-4206 eanderson@industrialdefender.com Company Website https://www.industrialdefender.com

October 04, 2022 09:09 AM Eastern Daylight Time

Companies Are Reporting Dropping Degree Requirements And Shifting To Skill-Based Hiring, But Credibility Still Looms As An Issue — A Boon For Edtech Platform Players Like Amesite (NASDAQ: AMST)?

Amesite Inc.

Learn More about Amesite Inc. by gaining access to the latest research report The talent shortage just in the information technology (IT) and cybersecurity industries has put pressure on already-overwhelmed IT businesses. An estimated 3.5 million cybersecurity jobs went unfilled in 2021 worldwide. The overall number of job openings in June was 10.7 million compared to 5.9 million unemployed, according to the U.S. Bureau of Labor Statistics. This leaves a record 4.8 million openings to be filled. A Solution? To address the talent shortage, a growing number of companies are saying that they are reevaluating their hiring preference by removing a bachelor’s degree as a prerequisite for middle-skill or even higher-skill roles. A recent study by Harvard Business Review and Lightcast analyzed over 51 million job postings between 2019 and 2021 and discovered that employers are dropping a bachelor’s degree as a requirement for middle-skilled and some higher-skilled jobs. IBM Corp. (NYSE: IBM) is ahead of its peers in terms of stripping degree requirements for job positions. Only 29% of the company’s IT positions require a bachelor’s degree. While Apple Inc. (NASDAQ: AAPL) and Alphabet Inc. ’s (NASDAQ: GOOGL) Google seem to show a heavy preference for degrees in their positions, the two tech companies are recognized for their notable progress. Between 2017 and 2021, positions requiring a degree at Apple were down 18% while they were down by 17%, according to the Harvard Business Review report. What Are Companies Looking For? In place of a four-year college degree, many enterprises, including the government, are shifting to skill-based and competency-based hiring to widen the talent pool. In June 2020 and January 2021, the White House announced limits on using educational requirements and adopting a skill-based approach when hiring federal job candidates. A number of IT companies have made public statements on stripping degree requirements for their job openings, with Meta Platforms Inc. (NASDAQ: META) CEO Mark Zuckerberg and Microsoft Corp. (NASDAQ: MSFT) Co-Founder Bill Gates are examples of what someone can achieve without a degree. “We don’t care if you have a degree, we just care if you can code,” is a popular mantra among Silicon Valley tech executives. Companies are using upskilling and reskilling existing employees as a solution for lessening the talent supply-demand imbalance. Accenture plc (NYSE: ACN) Senior Managing Director Pallavi Verma says the company spends close to $1 billion each year in learning and professional development for its employees. However, a recurring problem with upskilling and non-degree-based learning is credibility. It can be difficult for companies to analyze credentials and skills if there are limited standards across a multitude of learning options — and learners themselves have to decide among what programs will help them actually stand out. Amesite Inc. (NASDAQ: AMST) is an ed-tech player with a unique twist, it creates custom learning platforms for universities, companies, and government organizations so that the credibility of the institutions it works with is inherent in the end product. When COVID-19 hit in 2020, museums around the world were forced to close. It was during this time that many museums transitioned to delivering their content via the internet. For example, Conner Prairie, a history museum in Indiana partnered with Amesite to provide a new online learning ecosystem. Amesite’s Online Learning Community Environment system™ will offer K-12 programs for teachers, parents, lifelong learners and students. With Amesite collaborating with various colleges and universities, students who want to further their studies can enroll in programs of their choice without accumulating thousands of dollars in college debt. Additionally, companies can host in-house white labeled upskilling initiatives that give them control of the content, and the students all the credibility they may need. Learn more about Amesite here. Amesite Inc., an artificial intelligence driven platform and course designer, provides online products in the United States. The company uses machine learning to offer a mass customized experience to learners. Its customers include businesses, universities and colleges, K-12 schools, and non-profit organizations. The company was incorporated in 2017 and is headquartered in Detroit, Michigan. This post contains sponsored advertising content. This content is for informational purposes only and not intended to be investing advice. Contact Details Amesite, Inc. +1 734-876-8141 info@amesite.com Company Website http://www.amesite.io

October 04, 2022 08:58 AM Eastern Daylight Time

STARTING TODAY, SMALL BUSINESSES IN KING AND PIERCE COUNTIES MAY APPLY FOR $10,000 GRANTS FROM COMCAST RISE

Comcast Washington

Comcast today announced that small businesses owned by women and people of color in King and Pierce Counties, may now apply for a $10,000 grant from the Comcast RISE Investment Fund. Comcast will award a total of $1 million in grants to 100 eligible businesses in these two counties, as well as technology and marketing resources to eligible businesses statewide. Comcast RISE Investment Fund Starting today, October 3, and through October 16, eligible businesses can apply for Comcast RISE monetary grants, and, or marketing and technology services at www.ComcastRISE.com. Winners will be notified in November. Local small businesses seeking more information about the $10,000 grants, may learn more about the Comcast RISE Investment Fund, eligibility requirements, and how to apply by watching this video: https://www.youtube.com/watch?v=QXVAf3-Mxys&t=21s Last fall, more than 100 small businesses owned by people of color in King and Pierce Counties were awarded $1 million in total grants as well as technology and marketing resources, bringing the total to more than $2 million to date. These recipients are part of the more than 9,500 entrepreneurs nationwide who have been selected as Comcast RISE awardees since the program’s inception. The Investment Fund is an extension of Comcast RISE, a multi-year initiative from Comcast to support small businesses owned by women and people of color and provide the resources and tools they need to thrive for years to come. The Comcast RISE Investment Fund is focused on small businesses that have been in business for three or more years with 1-25 employees. Comcast RISE Marketing and Technology Services In addition to the Investment Fund, Comcast RISE, which stands for “Representation, Investment, Strength and Empowerment,” provides the opportunity for small businesses owned by people of color and women nationwide to apply for grants for one or more of the following support focus areas with the opportunity to receive one. Marketing Services Grant: The following services from Effectv, the advertising sales division of Comcast Cable, and its creative agency, Mnemonic, are designed to help recipients with their marketing and media campaigns, including: Media: A linear TV media campaign to run over a 90-day period. Creative Production: Turnkey 30-second TV commercial production, plus a media strategy consultation and a 90-day linear TV media campaign. Consult: Digital audits by Ureeka in the form of Website Repair Reports and SEO Keyword reports to target website mechanics and effective organic marketing Technology Makeover Grants: The state-of-the-art equipment and technology upgrade from Comcast Business includes computer equipment as well as internet, voice and cybersecurity services for up to a 12-month period. (Taxes and other fees may still apply for tech makeover services.) Monetary Grants: Monetary grants can be used for any business expense. In round one, which was announced in April of 2021, the Comcast RISE Investment Fund provided $5 million in grants to 500 small businesses owned by people of color in five cities: Philadelphia/Chester, Houston, Atlanta, Chicago, and Detroit. In round two, which was announced in September of 2021, the Comcast RISE Investment Fund provided $6 million in grants to 600 small businesses in six cities: Miami, Houston, Oakland, Seattle, the Twin Cities, and Washington, D.C. In round three, the Comcast RISE Investment Fund provided an additional $5 million in grants to 500 small businesses owned by people of color and women in five cities: Atlanta, Detroit, Pittsburgh, Philadelphia, and the Twin Cities. As noted above, in round four, the Comcast RISE Investment Fund will provide $5 million in grants to 500 small businesses in Chicago, Miami, Oakland, Seattle (King and Pierce Counties), and Washington, D.C. Comcast RISE is part of Project UP, the company’s comprehensive initiative to advance digital equity and help build a future of unlimited possibilities. More information and the applications to apply for either the grant program or marketing and technology services are available at www.ComcastRISE.com. About Comcast Corporation Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on broadband, aggregation, and streaming with over 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information. Contact Details Andy Colley Andy_Colley@Comcast.com Company Website https://washington.comcast.com/

October 03, 2022 08:56 AM Pacific Daylight Time

TestGrid redefines website and app testing infrastructure with launch of on-demand platform

TestGrid

Over 250,000 new websites and 2,000 apps are launched every day around the world, and the attention to detail in maintaining them for the best UX is becoming more substantial. Website and app testing company TestGrid is today announcing a suite of solutions that will help businesses, DevOps teams, and the testing community to test faster than ever before—anytime, anywhere, and at much lower cost. Many website testing platforms have been launched in the past decade to help global brands ensure their website and apps remain fit for purpose for users through any device, operating system, or browser type. Today, TestGrid is launching an on-demand testing platform that will unify all development and testing needs in one place. The new on-demand testing architecture created by TestGrid will help users run tests on their websites and apps on any browser, operating system, and any device through its cloud platform—a hybrid, public and private cloud or on-premise. The aim is to quickly increase accessibility to varied testing and remove the burden on capital expenditure. Harry Rao, CEO at TestGrid, commented: “The platform has been many years in the making and is now being used by customers from all industry verticals, including Retail, Telco, BFSI, Health, Entertainment, Manufacturing, and more. Today, we are proud of what we have made and are seeing a high adoption rate; people from similar platforms are switching to us. I’m a big fan of Amazon’s Working Backwards culture. Our goal was to take the test infra headache off the client’s plate (at a cost unmatched in the industry,) and offer test and development solutions that accelerate product development. To achieve this, we knew we had to bootstrap and pass on the discounts to our customers.” Every year teams spend thousands of dollars procuring infrastructure (physical and cloud) for their testing needs. On top of that, more capital expenditure is dedicated to manage and scale that infrastructure consistently. TestGrid is addressing this problem through its on-demand platform. Along with infrastructure, TestGrid offers add-on features (at no additional cost) to help users perform end-to-end testing, including enterprise-grade, award-winning, scriptless test automation with AI to help them test better and ship faster, built-in performance testing, and API testing, making it the first choice between developers and the testing community. Today, TestGrid customers range from startups to Fortune 500 companies and are partnered with leading system integrators to boost product adoption and build trust. In this digital age, speed is everything; a user only spends three seconds and bounces off if they don’t get what they want, which impacts UX, user reviews, and revenues. This puts additional pressure on testing and development teams to make sure their app and websites are spot on every time. The lack of sufficiently scalable infrastructure can slow down development, QA efforts, and software deployment. “This is exactly where TestGrid cloud testing solutions can help by offering the fastest, updated, scalable, reliable cloud testing infrastructure on cloud, on-premise, or at the edge at cost less than buying a device” added Rao. About TestGrid TestGrid offers large-scale enterprises and major businesses an end-to-end automated testing infrastructure and testing tools that empower agile development teams. Built on a clear understanding of the needs of management, developers, and testers to have a simpler solution for software product development, TestGrid created a cloud-based automated testing platform for enterprises. By utilizing the TestGrid platform for all your testing needs customers can accelerate their turn-around time for product deployments and/or updates, as well as tremendously cut down their costs on product development and testing. For more information please visit https://www.testgrid.io/ Contact Details TestGrid Junaid Ahmad junaid@testgrid.io Company Website https://www.testgrid.io/

October 03, 2022 10:23 AM Eastern Daylight Time

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EF Hutton Reiterates Buy Rating On HCTI, Second Time in 2022

Healthcare Triangle, Inc.

On September 28, 2022, Healthcare Triangle Inc (NASDAQ: HCTI) received a Buy rating with a price target of $2.00 in an analyst report by EF Hutton. EF Hutton analyst Constantine Davides, CFA, said “We are reiterating our Buy rating on HCTI. We continue to like the risk-reward of shares here, as HCTI continues to scale its proprietary Platform offerings while expanding its Managed Services business.” This is the second Buy rating report released by EF Hutton on HCTI in 2022. On March 14, 2022, Davides initiated coverage with a Buy rating on Healthcare Triangle and a price target of $4.00. Here are the key points from the report: Platform Services We view the continued adoption of HCTI's Platform offerings as a key component of potential share appreciation (multiple expansion) and an improved financial profile (predictable/recurring revenue mix and long-term margin expansion). We believe that HCTI has approximately six Platform customers, up from four at the end of 1Q, and we would expect that total to expand steadily across the next several quarters. We are projecting $4.7 million in Platform revenue in 2022 (10% of revenue), growing to $8 million by 2024 (13% of revenue). Managed Services Along with the focus on Platform, we continue to expect HCTI to focus on the growth of this recurring revenue stream. We note that YTD Managed Services revenue growth has been negatively impacted by a change in the way HCTI reports partner pass-through revenue, which has had an optically negative impact on 2022 GAAP revenue with no impact on gross profit. Cash and cash flow A recent (July 2022) equity financing provided HCTI with $5.8M in net proceeds. Although HCTI has been opportunistically repurchasing its own shares, we would prefer that management allow cash to build on its balance sheet rather than deploy capital more aggressively toward repurchases, given the challenging macro backdrop. Free cash flow (FCF) was positive in 1Q and 2Q and we expect FCF generation to remain sound across the next several quarters. Updating target and initiating 2024 estimates Our target moves to $2.00 from $4.00 (2.3x 2023 revenue) given recent multiple compression in the space (our target multiple goes to 1.5x 2023 revenue) and other model adjustments (projected cash and share count). We are initiating our 2024 revenue estimate of $61.3M (+10%). HCTI recently traded at 0.3x our 2023 revenue estimate. Risks HCTI is capital-constrained and has above-average customer concentration risk; its largest customer generated 39% of 2Q revenue. The company’s CEO and CFO also serve as officers of another publicly traded company, SecureKloud Technologies, Inc., which owns 65% of HCTI’s common equity. HCTI has a relatively small float and is thinly traded. View the original report by EF Hutton here. Analyst Certification I, Constantine Davides, CFA, certify that all of the views expressed in this research report accurately reflect my personal views about the subject security(ies) and subject company(ies). I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this research report. Company-Specific Disclosures EF Hutton, division of Benchmark Investments, LLC managed or co-managed a public offering of securities for Healthcare Triangle, Inc during the past 12 months. EF Hutton, division of Benchmark Investments, LLC or its affiliates received compensation from Healthcare Triangle, Inc for investment banking services within the past twelve months, and will seek compensation from the companies mentioned in this report for investment banking services within three months following publication of the research report General Disclosure This report has been produced by EF Hutton, division of Benchmark Investments, LLC and is for informational purposes only. It does not constitute solicitation of the sale or purchase of securities or other investments. The information contained herein is derived from sources that are believed to be reliable. Prices, numbers, and similar data contained herein include past results, estimates, and forecasts, all of which may differ from actual data. These prices, numbers, and similar data may also change without prior notification. 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