Day: May 12, 2022

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Zoom Drives Contact Center Expansion with Acquisition of Solvvy

Solvvy Offers Advanced Conversational AI and Automation Capabilities to Accelerate Zoom’s Delivery of Personalized, Effortless Customer Experiences

SAN JOSE, Calif. and BURLINGAME, Calif., May 12, 2022 (GLOBE NEWSWIRE) — Zoom Video Communications, Inc. (NASDAQ: ZM) today announced it has entered into a definitive agreement to acquire Solvvy, a leading conversational AI and automation platform for customer support. Together, Zoom and Solvvy will offer elevated customer service experiences to a global enterprise base and work quickly to capitalize on new opportunities in contact center and customer support.

The recently launched Zoom Contact Center is the first omnichannel contact center platform optimized for video with a robust suite of channels, such as video, voice, SMS, and webchat, in a single, user-friendly experience. Adding Solvvy’s proprietary technology will broaden Zoom Contact Center’s offering with scalable self-service and conversational AI. With Solvvy, Zoom Contact Center customers will benefit from an automated, integrated, and easy-to-deploy contact center that helps answer end-customers’ questions and solve issues faster, improves the overall customer experience, and drives operational savings.

“The nature of customer experience is transforming fundamentally, as enterprises increasingly need to deliver exceptional, personalized, and effortless customer experiences. Solvvy understands this shift and is the ideal platform to enhance our Zoom Contact Center offering,” said Velchamy Sankarlingam, President of Product and Engineering at Zoom. “Solvvy’s differentiated AI and machine learning technology, deeply talented team, and an easy-to-deploy solution will help accelerate our roadmap to creating a concierge-level experience for customers worldwide. Together, we are excited to help businesses of all sizes improve their customer retention, increase operating efficiency, and set new standards for customer service and satisfaction.”

“Zoom is poised to redefine the contact center category with its unique combination of unified communication and customer experience. We could not be more excited to join forces and further scale our unique conversational AI offering,” said Mahesh Ram, Chief Executive Officer and Co-Founder of Solvvy. “Zoom’s Contact Center brings the same level of scalability, simplicity, and respect for the end-user, making Zoom the premier communications platform for businesses worldwide. When combined with our modern tech stack, talented team, and AI expertise, we believe we can fundamentally transform the customer experience. The benefits of Zoom’s deep technical expertise, industry-leading platform, and global reach will further scale the impact we have on our customers and serve new ones.”

Zoom Contact Center was born in the cloud and built for scale to support businesses of all types and sizes. More information about Zoom Contact Center can be found on the Zoom blog.

Following the close of the transaction, Zoom will incorporate and expand Solvvy’s capabilities across its Zoom Contact Center platform. Solvvy Founding CEO Mahesh Ram and Co-Founder & CTO Justin Betteridge will be instrumental in driving the combined Advanced Conversational AI and Automation product vision and innovation strategy.

The transaction is expected to close in Q2 FY2023. Terms of the transaction were not disclosed.

About Zoom

Zoom is for you. Zoom is a space where you can connect to others, share ideas, make plans, and build toward a future limited only by your imagination. Our frictionless communications platform is the only one that started with video as its foundation, and we have set the standard for innovation ever since. That is why we are an intuitive, scalable, and secure choice for individuals, small businesses, and large enterprises alike. Founded in 2011, Zoom is publicly traded (NASDAQ: ZM) and headquartered in San Jose, California. Visit zoom.com and follow @zoom.

About Solvvy

Solvvy is the leading Conversational AI platform for customer support. Solvvy enables fast, personalized resolutions for customers, improves agent productivity, and uncovers valuable insights that empower support leaders and their teams. Our intelligent chatbot and automations have powered over a billion conversations for top brands such as HelloFresh, Vimeo, Under Armour, Stash, and Zwift, improving customer and agent experiences and driving massive operational savings. Solvvy has been recognized as a Gartner Cool Vendor and is a G2 Momentum Leader and Top Software 2022 award winner.

Forward-Looking Statements

This press release contains forward-looking information related to Zoom and Solvvy and the acquisition of Solvvy by Zoom that involves substantial risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed or implied by such statements. Forward-looking statements in this communication include, among other things, statements regarding the potential benefits of the proposed transaction for Zoom, Solvvy and their respective customers, Zoom’s plans, objectives, expectations and intentions with respect to the proposed transaction, the size of the opportunity for Zoom in contact centers, the financial condition, results of operations and business of Zoom, and the anticipated closing of the proposed transaction. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “project,” “will,” “would,” “should,” “could,” “can,” “predict,” “potential,” “target,” “explore,” “continue,” or the negative of these terms, and similar expressions intended to identify forward-looking statements. By their nature, these statements are subject to numerous uncertainties and risks, including factors beyond our control, that could cause actual results, performance or achievement to differ materially and adversely from those anticipated or implied in the statements, including: risks related to the ability of Zoom to consummate the proposed transaction on a timely basis or at all, Zoom’s ability to successfully integrate Solvvy’s operations and personnel, Zoom’s ability to implement its plan, forecasts and other expectations with respect to Solvvy’s business after the completion of the transaction, the ability to realize the anticipated benefits of the proposed transaction, and continued uncertainty regarding the extent and duration of the impact of COVID-19 and the responses of government and private industry thereto, including the potential effect on Zoom’s user growth rate as the impact of the COVID-19 pandemic tapers. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements described under the caption “Risk Factors” and elsewhere are in Zoom’s most recent filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended January 31, 2022. Forward-looking statements speak only as of the date the statements are made and are based on information available to Zoom at the time those statements are made and/or management’s good faith belief as of that time with respect to future events. Zoom assumes no obligation to update forward-looking statements to reflect events or circumstances after the date they were made, except as required by law.

Zoom Public Relations
Colleen Rodriguez
Head of Global PR
[email protected]

Solvvy Public Relations
Kristin Hege
[email protected]

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Pakistan drops 12 points on World Press Freedom Index 2022

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Global Voices

Screenshot of the cover page of the Freedom Network Annual State of Press Freedom Report 2021-22. Fair use. On the occasion of World Press Freedom Day, Pakistan-based independent media and civil liberties organization Freedom Network released a report that revealed that journalists in Pakistan have been targeted mostly by state actors in the past one year (May 2021 to April 2022) during the now ousted Imran Khan government, resulting in violence, legal cases, abductions, detentions and threats. Pakistan also registered a steep decline of 12 points in the World Press Freedom Index 2022. Accordi… Continue reading “Pakistan drops 12 points on World Press Freedom Index 2022”

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Synchronoss Finalizes Agreement with iQmetrix to Divest Digital Experience Platform and Activation Solutions

BRIDGEWATER, N.J., May 11, 2022 (GLOBE NEWSWIRE) — Synchronoss Technologies, Inc. (“Synchronoss” or the “Company”) (Nasdaq: SNCR), a global leader and innovator in cloud, messaging and digital products and platforms, today announced the successful completion of the sale of its Digital Experience Platform (“DXP”) and Activation Solutions (“Activation”) to iQmetrix, a leading provider of telecom retail management software. The divestiture was formally announced on March 8, 2022.

“The sale of DXP and Activation is part of our strategic plan to create a leaner business model that focuses on our core growth areas for the future,” said Jeff Miller, President, and Chief Executive Officer of Synchronoss. “Closing this deal is favorable for Synchronoss’s long-term product focus areas. It provides us with operating flexibility to improve our capital structure and to accelerate the development of new product offerings in our key areas such as our cloud portfolio.”

“As a trusted provider of intelligent retail management software, iQmetrix is the natural acquirer of choice for the Digital Experience Platform and Activation Solutions,” said Ryan Volberg, President and Chief Executive Officer of iQmetrix. “We’re very excited as this supports our plans to be the number one enabler of personal connected devices globally. In such a relentlessly changing industry, this is the next big step of many that we’re excited to take to help us create great experiences in the telecom space.”

The DXP and Activation offerings enable telecom operators and retailers around the globe to create, orchestrate and manage digital experiences across all channels. Following the sale, the Synchronoss digital business portfolio includes its Financial Analytics and spatialSUITE products as well as the iNow Platform.

About Synchronoss
Synchronoss Technologies (Nasdaq: SNCR) builds software that empowers companies around the world to connect with their subscribers in trusted and meaningful ways. The company’s collection of products helps streamline networks, simplify onboarding, and engage subscribers to unleash new revenue streams, reduce costs and increase speed to market. Hundreds of millions of subscribers trust Synchronoss products to stay in sync with the people, services, and content they love. That’s why more than 1,500 talented Synchronoss employees worldwide strive each day to reimagine a world in sync. Learn more at www.synchronoss.com.

Media Relations Contact:
Domenick Cilea
Springboard
[email protected]

Investor Relations Contact:
Matt Glover / Tom Colton
Gateway Group, Inc.
[email protected]

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ROSEN, TOP RANKED GLOBAL INVESTOR COUNSEL, Encourages Riskified Ltd. Investors to Secure Counsel Before Important Deadline in Securities Class Action – RSKD

NEW YORK, May 11, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Riskified Ltd. (NYSE: RSKD) pursuant and/or traceable to the Registration Statement issued in connection with the Company’s initial public offering conducted on or about July 28, 2021 (the “IPO” or “Offering”), of the important July 1, 2022 lead plaintiff deadline.

SO WHAT: If you purchased Riskified securities pursuant and/or traceable to the IPO you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Riskified class action, go to https://rosenlegal.com/submit-form/?case_id=5896 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 1, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, the IPO Registration Statement was negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Specifically, the IPO Registration Statement made inaccurate statements of material fact because they failed to disclose the following adverse facts that existed at the time of the IPO: (1) as Riskified expanded its user base, the quality of Riskified’s machine learning platform had deteriorated (rather than improved as represented in the Registration Statement), because of, among other things, inaccuracies in the algorithms associated with onboarding new merchants and entering new geographies and industries; (2) Riskified had expanded its customer base into industries with relatively high rates of fraud – including partnerships with cryptocurrency and remittance business – in which Riskified had limited experience and that this expansion has negatively impacted the effectiveness of Riskified’s machine learning platform; (3) as a result, Riskified was suffering from materially higher chargebacks and cost of revenue and depressed gross profits and gross profit margins during its third fiscal quarter of 2021; and (4) thus, the Registration Statement’s representations regarding Riskified’s historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of Riskified prior to and at the time of the IPO, and were materially false and misleading, and lacked a factual basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Riskified class action, go to https://rosenlegal.com/submit-form/?case_id=5896 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

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ROSEN, A GLOBALLY RECOGNIZED FIRM, Encourages Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. Investors with Losses to Secure Counsel Before Important Deadline in Securities Class Action First Filed by the Firm – LICY, PDAC

NEW YORK, May 11, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Li-Cycle Holdings Corp. f/k/a Peridot Acquisition Corp. (NYSE: LICY, PDAC) between February 16, 2021 and March 23, 2022, inclusive (the “Class Period”), of the important June 20, 2022 lead plaintiff deadline in the securities class action commenced by the Firm.

SO WHAT: If you purchased Li-Cycle securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Li-Cycle class action, go to https://rosenlegal.com/submit-form/?case_id=4885 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 20, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Li-Cycle’s largest customer, Traxys North America LLC, is not actually a customer, but merely a broker providing working capital financial to the Company while Traxys tries to sell Li-Cycle’s product to end customers; (2) the Company engaged in highly questionable related party transactions; (3) the Company’s mark-to-model accounting is vulnerable to abuse and gave a false impression of growth; (4) a significant portion of the Company’s reported revenues were derived from simply marking up receivables on products that had not been sold; (5) the Company’s gross margins have likely been negative since inception; (6) the Company will require an additional $1 billion of funding to support its planned growth (which is a figure greater than the Company raised via the merger); and (7) as a result, defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Li-Cycle class action, go to https://rosenlegal.com/submit-form/?case_id=4885 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

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ROSEN, A LEADING LAW FIRM, Encourages Natera, Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – NTRA

NEW YORK, May 11, 2022 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of the securities of Natera, Inc. (NASDAQ: NTRA) between February 26, 2020 and April 19, 2022, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 27, 2022.

SO WHAT: If you purchased Natera securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Natera class action, go to https://rosenlegal.com/submit-form/?case_id=3115 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 27, 2022. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Panorama was not reliable and resulted in high rates of false positives; (2) Prospera did not have superior precision compared to competing tests; (3) as a result of defendants’ false and misleading claims about Natera’s technology, the Company was exposed to substantial legal and regulatory risks; (4) Natera relied upon deceptive sales and billing practices to drive its revenue growth; and (5) as a result of the foregoing, defendants’ statements about the Company’s business, operations, and prospects lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Natera class action, go to https://rosenlegal.com/submit-form/?case_id=3115 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] or [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
[email protected]
[email protected]
www.rosenlegal.com

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Sales Plummet as Car Companies Continue to Announce Huge Price Hikes

The recent price hikes have evidently started affecting car sales in Pakistan negatively. As per a recent report from Pakistan Automotive Manufacturer’s Association (PAMA), the auto sector recorded a total of 22,370 car sales in April, recording a Month Over Month (MoM) decline of 18 percent and a Year Over Year (YoY) increase of 30 percent.

In April, Toyota Indus Motor Company (IMC) sold 5,775 units and witnessed an MoM decrease of 18 percent and a YoY increase of 8 percent in sales. Hyundai Nishat Motors Private Limited (HNMP) sold 1,287 cars in the same period, observing a minor MoM decrease of 1 percent and a YoY increase of 44 percent.

HACL sold 2,629 cars, recording an MoM decrease of 28 percent, and a YoY increase of 15 percent, while PSMC sold 12,639 units and observed an MoM decrease of 16 percent and a YoY increase of 47 percent.

Current Market Condition

The recent price hikes have irked the ire of the government, which has summoned automakers to explain the cost structure.

In a meeting that took place yesterday, the Ministry of Industries and Production (MoIP) raised serious objections regarding car manufacturers not providing their respective cost structures. It argued that the rate of price hikes is much greater than that of the US Dollar (USD) value hike against the Pakistani Rupee (PKR).

Automakers were adamant that they have no choice but to increase the prices of their cars due to rising raw material costs, shipment costs, and devaluation of local currency.

Representatives of various car companies claimed that the increased freight charges in the global market also prompted price hikes. They underlined that a freight container that previously cost $3,000, now costs $6,000.

Company representatives also stated that the ongoing political situation is also taking a toll on the car industry. Automakers have increased investment in the sector but are not getting returns accordingly, they added.

Conclusively, MoIP directed the carmakers to submit their respective cost structures within two days and announced that another follow-up meeting in this regard will be held soon.

Source: Pro Pakistan

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Int’l Nurses Day being observed today

International Nurses Day is being observed on Thursday to celebrate contributions, nurses make to the society.

The Day marks the birth anniversary of Florence Nightingale, the founder of modern nursing.

This year the Day is being observed under the theme ‘Nurses: A Voice to Lead – Invest in Nursing and respect rights to secure global health’, which focuses on the need to protect, support and invest in nursing profession to strengthen health systems around the world.

Prime Minister Shehbaz Sharif says the government will carry out reforms for improving working conditions of nurses and their education as well as training.

Paying tribute to nurses on International Nurses Day on Thursday, he said nursing is an important sector in the service to humanity. He said nurses have key role in provision of services in health sector.

The Prime Minister said nurses provided commendable services along with doctors during the Covid-19 pandemic putting their own lives at risk.

He said the noble services of nurses in Pakistan are a golden chapter of the history. He said the top positions of ten Pakistani women in the WHO list of 100 outstanding nurse and midwife leaders is acknowledgement of their services.

Source: Radio Pakistan