Category: Business

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Business Lifestyle

WBI Investments announces strategic partnership with FLX Distribution

RED BANK, N.J. — (BUSINESS WIRE) — WBI Investments today announced a strategic partnership with FLX Distribution. FLX offers the first Resource and Asset Management Platform (RAMP) bringing together asset managers, distribution professionals, wealth managers, and advisors to bring efficient distribution of its flagship investment models to investors.

“This is an exciting opportunity for WBI/Cy to exponentially scale up sales and distribution,” says Matt Schreiber, Co-Chief Executive Officer of WBI Investments. “We look to leverage the strategic focus of FLX Distribution to enhance the advisor and investor experience while WBI remains determined to provide innovative investment solutions.”

 

About WBI

Founded in 1984, WBI is a trailblazer of technology-driven, goals-based wealth management solutions. The firm is a pioneer of active cash-hedged separately managed account and ETF strategies. Cy, WBI’s award-winning digital wealth management platform, combines financial planning concepts and distinguished innovations to portfolio optimization and construction. WBI is a leader in providing client solutions tailored to their personal benchmarks for loss and return. For more information, visit wbiinvestments.com.

 

About FLX Distribution

Launched in December 2019, FLX Distribution is revolutionizing the distribution experience among asset managers, wealth managers, and advisors. We provide a technology platform — known as a Resource and Asset Management Platform (RAMP) — that delivers unmatched scale, flexibility, and access to a modular and on-demand experience.

 

The FLX Distribution technology platform simultaneously empowers asset managers and distribution professionals to drive results and retain optionality. Powered by a combination of proprietary tech developments, and a stack of leading software providers, we have created a seamless exchange providing access to media resources, distribution solutions, corporate strategy, and business services.

 

*Consideration for these awards is no guarantee of future performance. CyborgTech LLC did not pay a fee but did submit applications for consideration. For more information on the award categories and criteria, visit FinTech Breakthrough and Wealth Management.

 

IMPORTANT INFORMATION

Moreover, you should not assume that any discussion or information provided here serves as the receipt of, or as a substitute for, personalized investment advice from WBI Investments or from any other investment professional. To the extent that you have any questions regarding the applicability of any specific issue discussed to your individual situation, you are encouraged to consult with WBI Investments or the professional advisor of your choosing. WBI’s current disclosure statement as set forth on Form ADV Part 2 is available for your review upon request.

 

WBI is an investment adviser in New Jersey. WBI is registered with the Securities and Exchange Commission (SEC). Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission. WBI only transacts business in states in which it is properly registered or is excluded or exempted from registration. A copy of WBI’s current written disclosure brochure filed with the SEC which discusses among other things, WBI’s business practices, services and fees, is available through the SEC’s website at: www.adviserinfo.sec.gov.

Contacts

Media
Matt Schreiber

CyborgTech, LLC

800-772-5810

Categories
Business Lifestyle

Ryder to acquire nationwide e-commerce and omnichannel fulfillment provider Whiplash

Acquisition to expand Ryder’s e-fulfillment network; add proven technology and operating platform, in strategic move to advance capabilities in high-growth e-commerce and omnichannel segments

 

MIAMI — (BUSINESS WIRE) — Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, announces it has entered into a definitive agreement to acquire Whiplash, a leading national provider of omnichannel fulfillment and logistics services, for approximately $480 million in cash. Based in City of Industry, Calif., Whiplash provides scalable e-commerce and omnichannel fulfillment solutions to an impressive roster of more than 250 brands. The company’s 19 dedicated and multi-client warehouses total nearly seven million square feet and provide access to key port operations and gateway markets.


 

The transaction is accretive to shareholders and is expected to add approximately $480 million in gross revenue to Ryder’s supply chain solutions business segment in 2022 and provide incremental growth to Ryder’s earnings in 2022. Ryder and Whiplash expect to complete the transaction in late December 2021 or early January 2022, subject to satisfaction of antitrust approvals and customary closing conditions.

 

“The acquisition of Whiplash is consistent with our strategy to accelerate growth in our higher-return supply chain business. It also expands our e-commerce and omnichannel fulfillment network and reflects our continued focus on technology and innovation,” says Robert Sanchez, chairman and chief executive officer for Ryder. “Whiplash’s best-in-class e-commerce platform and key geographic strongholds—coupled with Ryder’s industry-leading transportation logistics solutions, including our robust Ryder Last Mile delivery network for big-and-bulky goods—positions us to deliver incredible value for our customers who are looking for more advanced e-fulfillment solutions in today’s ever-changing landscape.”

 

Ryder expects to integrate Whiplash’s facilities, operations, technology, and warehouse automation and robotics into its e-commerce fulfillment solution within the supply chain solutions business unit. Additionally, Ryder plans to retain Whiplash’s executive team and workforce, with their proven operational expertise, to execute the growth and customer solutions in this segment.

 

“With e-commerce sales continuing to hit record levels and omnichannel retailing becoming mainstream, we’re seeing a significant uptick in brands looking for more dynamic fulfillment services,” says Steve Sensing, president of global supply chain solutions for Ryder. “Whiplash has built a proven model that meets today’s consumers where, when, and how they choose to engage with brands—whether that’s on-line from a mobile device or laptop, in-store, or a combination. We expect that our combined customers will benefit from that additional flexibility as well as Ryder’s vast nationwide network, extensive technology suite, best-in-class warehouse management practices, and end-to-end transportation logistics solutions.”

 

The acquisition will add to Ryder’s current e-commerce fulfillment network with new facilities in Chino, Calif; City of Industry, Calif.; Long Beach, Calif.; Jacksonville, Fla.; Savannah, Ga.; Newark, N.J.; Secaucus, N.J.; Clifton, N.J.; Columbus, Ohio; Salt Lake City, Utah; and Sumner, Wash. Additionally, the acquisition strengthens Ryder’s presence in key port operations, providing four-corner coverage of all major U.S. inbound gateways via Seattle/Tacoma, New York/New Jersey, Savannah, and Long Beach.

 

With the expanded footprint following the acquisition, Ryder’s e-commerce and omnichannel fulfillment solution is expected to be able to deliver to 100% of the U.S. within two days and 60% of the U.S. within one day.

 

“This announcement signals a new accelerated phase of growth for Whiplash that will benefit our current customers and dramatically enhance our ability to scale and deliver innovation for digitally-native brands and omnichannel retailers,” says Jeff Wolpov, chief executive officer of Whiplash. “Ryder’s supply chain expertise, facility network, and last-mile transportation solutions are a perfect complement to the Whiplash e-commerce platform, and we’re excited to be part of the Ryder team.”

 

Wofford Advisors LLC acted as lead strategic advisor to Ryder and Blank Rome LLP acted as legal counsel on the transaction. J.P. Morgan Securities LLC acted as exclusive financial advisor and Paul Hastings LLP served as legal counsel to Whiplash.

 

About Ryder System, Inc.

Ryder System, Inc. (NYSE: R) is a leading logistics and transportation company. It provides supply chain, dedicated transportation, and fleet management solutions, including full service leasing, rental, and maintenance, used vehicle sales, professional drivers, transportation services, freight brokerage, warehousing and distribution, e-commerce fulfillment, and last mile delivery services, to some world’s most-recognized brands. Ryder provides services throughout the United States, Mexico, Canada, and the United Kingdom. In addition, Ryder manages nearly 235,000 commercial vehicles and operates more than 300 warehouses, encompassing approximately 64 million square feet. Ryder is regularly recognized for its industry-leading practices in third-party logistics, technology-driven innovations, commercial vehicle maintenance, environmentally friendly solutions, corporate social responsibility, world-class safety and security programs, military veteran recruitment initiatives, and the hiring of a diverse workforce. www.ryder.com

 

About Whiplash

PLG Investments I, LLC, d/b/a Whiplash, is a leading provider of direct-to-consumer fulfillment and retail logistics, including end-to-end customer care, transportation, distribution, and value-added warehouse services. Its high-performance operations are supported by its namesake ecommerce platform and a suite of advanced technology solutions, enabling the multi-channel connectivity required by the retail supply chains of today and tomorrow. Operating 19 distribution centers nationwide across nearly seven million square feet of space in addition to its international partner network, Whiplash brings emerging and established brands the scale and vision they need to grow and succeed.

 

Note Regarding Forward-Looking Statements: Certain statements and information included in this news release are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements, including our expectations regarding the benefits and timing of the transaction (including future revenue and earnings growth as a result of the transaction), are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Many factors could cause actual future events to differ materially from the forward-looking statements in this news release, including but not limited to: (i) the risk that the transaction may not be completed in a timely manner or at all, (ii) the effect of the announcement or pendency of the transaction on Whiplash’s business relationships, operating results, and business generally, (iii) risks that the merger disrupts current plans and operations of Whiplash and potential difficulties in Whiplash employee retention as a result of the Merger, (iv) changes in general economic conditions, including as a result of the COVID-19 pandemic, (v) the risk that the merger will not add the forecasted revenue to Ryder’s supply chain solutions business segment; (vi) the risk that the merger will not provide the expected incremental growth to Ryder’s earnings in 2022; (vii) the ability to implement business plans, forecasts and other expectations after the completion of the proposed transaction, and identify and realize additional opportunities. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

ryder-scs

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Contacts

Amy Federman

Ryder, Media Relations

afederman@ryder.com

Bob Brunn

Ryder, Investor Relations

bob_s_brunn@ryder.com

Rich Reba

Whiplash

rich.reba@whiplash.com

Categories
Business

AM Best affirms credit ratings of Employers Holdings, Inc. and its subsidiaries

OLDWICK, N.J. — (BUSINESS WIRE) — #insurance—AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a-” (Excellent) of Employers Preferred Insurance Company and its pooled affiliates, collectively referred to as Employers Insurance Group (Employers). (See below for a detailed list of companies.) Concurrently, AM Best has affirmed the Long-Term ICR of “bbb-” (Good) and the indicative Long-Term Issue Credit Ratings (Long-Term IR) of Employers Holdings, Inc. (EHI) [NYSE:EIG], the publicly traded ultimate parent of Employers. The outlook of these Credit Ratings (ratings) is stable. All companies are headquartered in Reno, NV.

The Credit Ratings (ratings) reflect Employers’ balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.

 

The ratings are supported by Employers’ risk-adjusted capitalization, which AM Best considers to be at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The group’s capital position reflects the group’s consistent operating performance, improving underwriting leverage, and a diversified and well-managed investment portfolio that provides a steady stream of net investment income. Employers benefits from strong financial flexibility afforded by its publicly traded parent, EHI, demonstrating access to capital markets as needed and full borrowing capacity through its revolving credit facility.

 

Employers maintains business concentration risk, operating as a mono-line workers’ compensation insurer focusing on small businesses engaged in low-to-medium hazard industries, with a relatively high concentration of premium volume in a select number of states. While this concentration subjects the company to heightened degree of economic, regulatory and judicial risks, this concern is mitigated partially by management’s market expertise. Employers continues to diversify its distribution capabilities by investing in its online direct to consumer company, Cerity Group, Inc. While premiums are still down from 2019, the group is experiencing a positive rebound from 2020 levels as payrolls continue to increase now that businesses have reopened and restrictions have been lifted. The group also plans to capitalize on new market opportunities post-pandemic and further diversify its risk exposure and expand its appetite through new classes of workers’ compensation business.

 

The FSR of A- (Excellent) and the Long-Term ICRs of “a-” (Excellent) have been affirmed for the following pooled subsidiaries of Employers Holdings, Inc.:

 

  • Employers Preferred Insurance Company
  • Employers Compensation Insurance Company
  • Employers Insurance Company of Nevada
  • Employers Assurance Company
  • Cerity Insurance Company

 

The following indicative Long-Term IRs under the shelf registration have been affirmed:

Employers Holdings, Inc.—

–“bbb-” (Good) on senior unsecured debt

–“bb+” (Fair) on subordinated debt

–“bb” (Fair) on preferred debt

 

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

 

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

 

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Joni Cerbone, CPA

Senior Financial Analyst
+1 908 439 2200, ext. 5726
joni.cerbone@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Rosemarie Mirabella
Director
+1 908 439 2200, ext. 5892
rosemarie.mirabella@ambest.com

Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Categories
Business Culture

Bright MLS CTO Frank Major elected to 2022 RESO Board of Directors

National Organization Provides Foundation for Streamlined Real Estate Technology

 

ROCKVILLE, Md. — (BUSINESS WIRE) — Bright MLS announced today that Frank Major, Bright’s Chief Technology Officer, has been named to the Real Estate Standards Organization (RESO) Board of Directors. Founded in 1999, RESO provides guidance for the entire real estate marketplace through the creation and certification of national industry standards. Member organizations include MLSs, brokerages, REALTOR® associations and technology partners serving more than one million real estate professionals. As one of the first multiple listing services to achieve RESO’s Data Dictionary 1.6 Platinum Certification for ensuring industry-approved definitions and consistent terms and data structures, Bright is currently working with RESO to help define showing data standards aimed at supporting product choice.


“Frank understands what clear and evolving technical standards mean to the thousands of organizations who comprise the entire real estate marketplace,” said Brian Donnellan, President and CEO of Bright MLS. “Importantly, he will take into account the diversity of thought, background, industry and geography of everyone who participates in the important discussions RESO will facilitate in 2022 and beyond in this critical time in the industry.”

 

“Frank’s background and expertise make him a tremendous asset to RESO members and to the marketplace at large,” said RESO CEO Sam DeBord. “I look forward to working with Frank and the rest of our 2022 Board of Directors closely.”

 

As Chief Technology Officer of Bright MLS, Major leads the data science, software engineering, and technology and digital product teams. Prior to entering the real estate data world, Frank was a seasoned leader in the financial technology industry with a proven ability to build and mature IT organizations. The holder of five patents, Frank brings extensive experience building successful strategic plans and delivering large-scale systems and services in a variety of sectors.

 

About Bright MLS

Bright MLS’s real estate service area spans 40,000 square miles throughout the Mid-Atlantic region, including Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia. As a leading multiple listing service (MLS), Bright supports over 98,000 real estate professionals who in turn serve the more than 20 million homeowners in its footprint. In 2020, Bright’s customers facilitated $116.3B in real estate transactions through our system. For more information, please visit www.brightmls.com.

Contacts

Christy Reap

202.309.9362

christy.reap@brightmls.com

Categories
Business Technology

Clair announces Lance Katigbak as its Chief Revenue Officer

Former Head of Growth led company to partnerships with HR technology companies with over 5 million end users


NEW YORK — (BUSINESS WIRE) — #earnedwageaccess—Clair, a New York-based financial technology company, announced today the promotion of its Head of Growth, Lance Katigbak, to Chief Revenue Officer. The promotion follows recent announcements of new partnership deals with a number of leading HR tech companies, including When I Work and Workwell.

 

“I am very excited to welcome Lance to the company’s executive team,” shared Nico Simko, CEO and Co-Founder of Clair. “He’s a well-respected leader throughout Clair who has been integral not only to driving the successes and growth of the company, but also in positively shaping our culture.”

 

Katigbak joined the company as its Chief of Staff and first full-time employee, before eventually transitioning into the Head of Growth role. He has since built and currently leads the company’s go-to-market and distribution strategy, overseeing Clair’s Strategic Alliances, Marketing, Partner Success, and Commercial functions. Under his leadership, the company has signed partnerships with HR technology platforms that have over 5 million end users in a little over two years.

 

“I’m looking forward to continuing on this journey and playing a bigger role within the Clair leadership,” shared Katigbak. “We’ve built so much momentum in the last two years because we’ve always done what’s best for the American workforce, which also happens to be what’s good for the HR technology platforms that serve them.”

 

Prior to joining Clair, Katigbak worked in Boston Consulting Group’s New Jersey and Manila offices. A native of the Philippines, he co-founded several social impact organizations including solar-light distributor One Million Lights Philippines and youth governance forum Philippine Model Congress. He holds an undergraduate degree in Visual and Environmental Studies, magna cum laude, from Harvard University.

 

Since its founding in 2019, Clair has become the leading player in the on-demand pay space offered with a full digital banking experience. The company differentiates itself from competitors as a social impact fintech that is committed to never charging America’s workforce any fees for wage advances. In addition, Clair On-Demand Pay is a service that Clair provides exclusively to HR tech companies, thus reaching millions of workers across the country.

 

About Clair

Clair is a New York-based financial technology company that is breaking the paycheck-to-paycheck cycle by offering the fastest free paydays to America’s workers. Clair On-Demand Pay embeds seamlessly into human capital management and workforce management platforms and upgrades the overall employee experience. For more information, visit getclair.com.

Contacts

Clair Media:

Kira Walter, Director of Marketing, Clair

Email: press@getclair.com

Categories
Business Local News

NCRI Research using Google/Walmart data brings hope for reaching vaccine-reluctant communities

PRINCETON, N.J. — (BUSINESS WIRE) — The Network Contagion Research Institute (NCRI), a multidisciplinary research institute that uses machine learning and scaled data analysis to map contagious threats, has published new research findings that show new inroads for reaching communities that have been reluctant to take vaccines. Reaching these populations has become more critical with the arrival of the Omicron Covid variant, which experts believe may asymmetrically impact minority communities.

The research generated a data-driven large-scale climate model of vaccine reluctance with specific underlying indicators down to the county level, which revealed factors that quantitatively forecast reluctance to Covid vaccinations on the county level. These included social media factors ranging from searches on Google indicating concerns about side effects, to tweets about Covid-related conspiracies. These findings lay the groundwork for the ability to create a map that can be updated in nearly real time to provide public health officials, the local medical community and other community leaders a better understanding of the makeup of concerns underlying local vaccine reluctance.

 

In addition to Google search trends, social media comments, and aggregated event/demographic databases, the research combined data from the CDC on vaccination rates with Walmart’s data on vaccine distribution. Peter Norvig, Director of Research at Google, a professor at Stanford, and NCRI research contributor, said, “the NCRI is demonstrating how smart analysis of data can strengthen our dialogue across the country in the effort to beat COVID-19.”

 

An unexpected key finding in the research is that Walmart appears to be overperforming with communities that are high in vaccine reluctance. The research demonstrated that the presence of hard-to-reach communities such as African Americans and Trump voters was a significant predictor of success for Walmart’s vaccine distribution compared to general distribution. These findings follow on programmatic outreach by Walmart to target hard to reach communities. By sharing its data publicly and its best practices in community outreach, Walmart hopes to enhance the success of other community outreach programs and accelerate shared learnings.

 

Aaron Bernstein, Director of Analytics at Walmart, commented: “Access to affordable and accessible care is just one way leveraging our size and scale helps us better serve communities. We realized in talking with NCRI that the framework of network science and big data could allow us to contribute valuable, anonymous information to positively impact public health and help inform the research to understand more about vaccine reluctance.”

 

Bernstein continued: “The report affirmed our strategy to reach underserved and rural communities by partnering with community leaders, elected officials, faith-based leaders, nonprofits and community organizations. It illustrated our positive impact in communities that would typically see more vaccine reluctance. By NCRI sharing this report, organizations can collectively address public health challenges in ways that meet people where they are; engage in more productive dialogue; contribute to the development of new capabilities; and inspire other organizations to share blind data for the broader good and affect important change.”

 

Adam Sohn, CEO of the NCRI added that “the NCRI hopes this research will inspire other organizations, especially vaccine distributors, to offer their data to help fortify these new forecasting capabilities. We invite those organizations to reach out to us directly to begin integrating anonymized data into a forecasting framework to better model public health challenges.”

 

About NCRI: The Network Contagion Research Institute (NCRI) identifies and forecasts the threat and spread of misinformation and disinformation across social media platforms and the real world. Committed to quickly identifying these emerging threats, NCRI forecasts potential risks to empower partners to become proactive in protecting themselves against false narratives that create rifts of distrust that impact institutions, capital markets, public health and safety.

Contacts

Alex Goldenberg, Lead Intelligence Analyst

Network Contagion Research Institute

alex@ncri.io

Categories
Business

Merck prices $8.0 billion debt offering

KENILWORTH, N.J. — (BUSINESS WIRE) — $MRK #MRK–Merck (NYSE: MRK), known as MSD outside the United States and Canada, today priced an $8.0 billion public offering of five series of senior unsecured notes (collectively, the “notes”). The notes include:

$1.5 billion of 1.700% notes due 2027 (the “2027 notes”)

$1.0 billion of 1.900% notes due 2028 (the “sustainability notes”)

$2.0 billion of 2.150% notes due 2031 (the “2031 notes”)

$2.0 billion of 2.750% notes due 2051 (the “2051 notes”)

$1.5 billion of 2.900% notes due 2061 (the “2061 notes”)

 

Merck intends to use the net proceeds from the offering of the 2027 notes, the 2031 notes, the 2051 notes and the 2061 notes for general corporate purposes, including without limitation the repayment of outstanding commercial paper borrowings (including commercial paper borrowings in connection with Merck’s acquisition of Acceleron), and other indebtedness with upcoming maturities. Merck intends to allocate an amount equal to the net proceeds of the offering of the sustainability notes to finance or refinance, in whole or in part, eligible projects. The offering is expected to close on Dec. 10, 2021, subject to customary closing conditions. BofA Securities, Inc., Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC are acting as the joint book-running managers for the offering.

 

The offering of the notes is being made pursuant to an effective shelf registration statement (including a base prospectus) filed with the Securities and Exchange Commission (the “SEC”). The offering may be made only by means of a prospectus and related prospectus supplement, copies of which may be obtained by calling BofA Securities, Inc. toll-free at 1-800-294-1322, Barclays Capital Inc. toll-free at 1-888-603-5847, Credit Suisse Securities (USA) LLC toll-free at 1-800-221-1037, Deutsche Bank Securities Inc. toll-free at 1-800-503-4611 or Goldman Sachs & Co. LLC toll-free at 1-866-471-2526. An electronic copy of the registration statement and prospectus supplement, together with the base prospectus, is available on the SEC’s website at www.sec.gov.

 

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

 

About Merck

For over 130 years, Merck, known as MSD outside of the United States and Canada, has been inventing for life, bringing forward medicines and vaccines for many of the world’s most challenging diseases in pursuit of our mission to save and improve lives. We demonstrate our commitment to patients and population health by increasing access to health care through far-reaching policies, programs and partnerships. Today, Merck continues to be at the forefront of research to prevent and treat diseases that threaten people and animals – including cancer, infectious diseases such as HIV and Ebola, and emerging animal diseases – as we aspire to be the premier research-intensive biopharmaceutical company in the world.

 

Forward-Looking Statement of Merck & Co., Inc., Kenilworth, N.J., USA

This news release of Merck & Co., Inc., Kenilworth, N.J., USA (the “company”) includes “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such statements may include, but are not limited to, statements about the company’s ability to complete the offering and the company’s expectations for the use of proceeds from the offering, including, without limitation, allocation of the proceeds of the sustainability notes among eligible projects. These statements are based upon the current beliefs and expectations of the company’s management and are subject to significant risks and uncertainties. If underlying assumptions prove inaccurate or risks or uncertainties materialize, actual results may differ materially from those set forth in the forward-looking statements.

 

Risks and uncertainties include but are not limited to, general industry conditions and competition; general economic factors, including interest rate and currency exchange rate fluctuations; the impact of the global outbreak of novel coronavirus disease (COVID-19); the impact of pharmaceutical industry regulation and health care legislation in the United States and internationally; global trends toward health care cost containment; technological advances, new products and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approval; the company’s ability to accurately predict future market conditions; manufacturing difficulties or delays; financial instability of international economies and sovereign risk; dependence on the effectiveness of the company’s patents and other protections for innovative products; and the exposure to litigation, including patent litigation, and/or regulatory actions.

 

The company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Additional factors that could cause results to differ materially from those described in the forward-looking statements can be found in the company’s 2020 Annual Report on Form 10-K and the company’s other filings with the Securities and Exchange Commission (SEC) available at the SEC’s Internet site (www.sec.gov).

Contacts

Media

Patrick Ryan

(973) 275-7075

Melissa Moody

(215) 407-3536

Investors:

Peter Dannenbaum

(908) 740-1037

Steven Graziano

(908) 740-6582

Categories
Business

Zoetis announces authorization of $3.5 billion share repurchase program

Company Also Declares First Quarter 2022 Dividend; Board Approves 30% Payment Increase

 

PARSIPPANY, N.J. — (BUSINESS WIRE) — $ZTS #animalhealth—Zoetis Inc. (NYSE:ZTS) today announced that its Board of Directors has approved a $3.5 billion share repurchase program as part of its capital allocation plans. The shares are expected to be repurchased over a multi-year period, and the program can be cancelled at any time. The Company’s previous $2.0 billion share repurchase program, which was approved in December 2018, is expected to be completed in 2022.

The company also declared a dividend of $0.325 per share for the first quarter of 2022, an increase of 30% from the quarterly dividend rate paid in 2021. The dividend will be paid on Tuesday, March 1, 2022, to all holders of record of the Company’s common stock as of the close of business on Thursday, January 20, 2022.

 

“Our financial performance has remained very strong this year and allows us to continue making meaningful investments in our business while returning capital to our shareholders,” said Wetteny Joseph, Executive Vice President and Chief Financial Officer at Zoetis. “This new share repurchase program, along with the dividend increase, is a demonstration of our ongoing commitment to shareholders as part of our capital allocation priorities.”

 

About Zoetis

As the world’s leading animal health company, Zoetis is driven by a singular purpose: to nurture our world and humankind by advancing care for animals. After nearly 70 years innovating ways to predict, prevent, detect, and treat animal illness, Zoetis continues to stand by those raising and caring for animals worldwide — from livestock farmers to veterinarians and pet owners. The company’s leading portfolio and pipeline of medicines, vaccines, diagnostics and technologies make a difference in over 100 countries. A Fortune 500 company, Zoetis generated revenue of $6.7 billion in 2020 with approximately 11,300 employees. For more information, visit www.zoetis.com.

 

DISCLOSURE NOTICES

Forward-Looking Statements: This press release contains forward-looking statements, which reflect the current views of Zoetis with respect to business plans or prospects, future operating or financial performance, future use of cash and dividend payments, and other future events. These statements are not guarantees of future performance or actions. Forward-looking statements are subject to risks and uncertainties. If one or more of these risks or uncertainties materialize, or if management’s underlying assumptions prove to be incorrect, actual results may differ materially from those contemplated by a forward-looking statement. Forward-looking statements speak only as of the date on which they are made. Zoetis expressly disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. A further list and description of risks, uncertainties and other matters can be found in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020, including in the sections thereof captioned “Forward-Looking Statements and Factors That May Affect Future Results” and “Item 1A. Risk Factors,” in our Quarterly Reports on Form 10-Q and in our Current Reports on Form 8-K. Such risks and uncertainties may be amplified by the COVID-19 pandemic and its potential impact on the global economy and our business. These filings and subsequent filings are available online at www.sec.gov, www.zoetis.com, or on request from Zoetis.

ZTS-COR

ZTS-IR

ZTS-FI

Contacts

Media Contacts:

Bill Price

1-973-443-2742 (o)

william.price@zoetis.com

Kristen Seely

1-973-443-2777 (o)

kristen.seely@zoetis.com

Investor Contacts:

Steve Frank

1-973-822-7141 (o)

steve.frank@zoetis.com

Keith Gaub

1-973-822-7154 (o)

keith.gaub@zoetis.com

Categories
Business Local News

Essential Properties Realty Trust, Inc. increases quarterly dividend to $0.26 per share, a 4.0% increase over prior quarter

PRINCETON, N.J. — (BUSINESS WIRE) — Essential Properties Realty Trust, Inc. (NYSE: EPRT; the “Company”) announced today that its Board of Directors declared a quarterly cash dividend of $0.26 per share of common stock for the fourth quarter of 2021. On an annualized basis, this dividend of $1.04 per share of common stock represents an increase of $0.04 per share over the previous annualized dividend. The dividend is payable on January 13, 2022 to stockholders of record as of the close of business on December 31, 2021.

About Essential Properties Realty Trust, Inc.

Essential Properties Realty Trust, Inc. is an internally managed REIT that acquires, owns and manages primarily single-tenant properties that are net leased on a long-term basis to companies operating service-oriented or experience-based businesses. As of September 30, 2021, the Company’s portfolio consisted of 1,397 freestanding net lease properties with a weighted average lease term of 13.9 years and a weighted average rent coverage ratio of 3.5x. As of the same date, the Company’s portfolio was 99.9% leased to 297 tenants operating 423 different concepts in 17 industries across 45 states.

Contacts

Investor/Media:

Essential Properties Realty Trust, Inc.

Daniel Donlan

Senior Vice President, Capital Markets

609-436-0619

info@essentialproperties.com

Categories
Business Technology

NetQuest’s Streaming Network Sensors deliver deep visibility for high-octane threat hunting

Sensors offer enriched flow data for tracking cyber threats and generating intelligence required to secure large backbone networks


MOUNT LAUREL, N.J. — (BUSINESS WIRE) — #bigdata—NetQuest Corporation, a global leader of advanced cyber intelligence solutions, today announced its new Streaming Network Sensors product line, a portfolio of high-speed network flow sensors capable of enriched layer 7 visibility for cyber threat hunting on critical traffic links. The Streaming Network Sensors feature NetQuest’s market-leading unsampled flow metering performance capable of scaling flow metadata generation from a single 10G link to multiple 100G network links in a compact 1RU footprint. Flow data at this scale makes the sensors ideal for securing large-scale regional networks, data center backbones, ISP peering and international optical links.

 

“NetQuest has delivered traffic visibility at an extreme scale to support mission-critical cyber security challenges,” said Jesse Price, CEO and President of NetQuest Corporation. “Our Streaming Network Sensors enable threat intelligence across the world’s largest networks, empowering security teams within carriers, government agencies and large enterprises.”

 

With an expanded attack surface and rapidly growing traffic rates, SecOps teams require advanced visibility solutions that can scale to eliminate network blind spots and maximize threat detection capabilities. NetQuest’s Streaming Network Sensors monitor traffic in real-time inspecting all packets and extracting enriched, unsampled standards-based flow records to detect anomalies and ensure security. The portfolio includes the SNS250 for generating standard flow data from 10G and 100G traffic links while the SNS1000 extends visibility and optimizes threat detection with additional actionable intelligence:

 

  • Flow Generation exports standards-based 1:1 unsampled IPFIX flow data, scaling from a single 10G link to multiple 100G links.
  • Application Classifier leverages Enea’s Qosmos ixEngine to include application identification and additional Layer 7 application attributes within the flow records. Qosmos ixEngine is an advanced DPI-based classification engine that recognizes over 3,600 protocols and applications including classification of encrypted and evasive traffic.
  • Network Security and encrypted traffic analysis identifies powerful Indicators of Compromise (IoC) based on network protocol and traffic heuristic signatures.
  • Mobility adds subscriber-level visibility into mobile-centric tunneling protocols and assures the proper traffic is distributed to the appropriate tools.

 

“For modern security operations in global telecommunications providers and large enterprises, access to real-time data is increasingly valuable,” said Patrick Donegan, Founder and Principal Analyst of HardenStance. “Building on its portfolio of optical network monitoring solutions, NetQuest’s new Streaming Network Sensor product delivers a rich dataset for securing the world’s highest bandwidth networks.”

 

Find out more information about NetQuest’s Streaming Network Sensors at: https://netquestcorp.com/products/streaming-network-sensors

 

About NetQuest

NetQuest designs, manufactures and markets advanced cyber intelligence solutions to network service providers, large enterprises and government agencies for national defense and network security applications. Founded in 1987 and based in Mount Laurel, New Jersey, NetQuest is an employee-owned business. With a 30-year track record of providing cutting edge cyber solutions, NetQuest has developed a global customer base, marketing directly and through a network of strategic partners, value-added resellers and representatives. For more information, visit https://www.netquestcorp.com/.

Contacts

Zach Ziobro, zziobro@netquestcorp.com, (856) 866-0505