Category: Press Releases

A leap forward in automotive safety with LeddarTech and Arm

QUEBEC CITY, Canada, Oct. 03, 2024 (GLOBE NEWSWIRE) — LeddarTech^® Holdings Inc. (“LeddarTech”) (Nasdaq: LDTC), an automotive software company that provides patented disruptive AI-based low-level sensor fusion and perception software technology, LeddarVision, for ADAS, AD and parking applications, proudly highlights the critical contributions of Texas Instruments and Arm in enhancing its groundbreaking LeddarVision products.

Customers are invited to experience the future of automotive innovation with LeddarTech’s LeddarNavigator demonstrator at AutoSens Europe (October 8-10, 2024). This state-of-the-art showcase demonstrates the company’s advanced AI-based sensor fusion and perception software, LeddarVision, and underscores the transformative power of industry-leading processor technology. Enabled by Texas Instruments’ TDA4VE-Q1 processor and seamlessly integrating Arm’s automotive processors, this software technology sets a new standard in performance and capability.

Featuring the Contributions of Arm and TI to the LeddarVision Suite of Products:

• Arm drives ADAS innovation with advanced compute platforms designed to address the safety and performance needs of automotive use cases. Their crucial role in enhancing LeddarVision’s efficiency is evident. By optimizing critical performance-defining algorithms within the ADAS perception and fusion stack for Arm CPUs, Arm and LeddarTech have successfully minimized computational bottlenecks and enhanced overall system efficiency using the Arm Cortex-A720AE CPU.

Take a closer look at this groundbreaking collaboration. This Case Study provides a detailed account of the two organizations’ journey as they push the boundaries of innovation and pioneer the future of automotive safety.

• Texas Instruments’ (TI) highly integrated and cost-efficient TDA4 family processor is used for the LeddarVision Front-Entry solution (LVF-E), which marked the first-to-market comprehensive low-level-fusion based perception solution deployed on a single TDA4VE-Q1 processor. The efficient implementation on the TDA4VE-Q1 processor achieves one of the lowest system costs for L2/L2+ entry-level ADAS without sacrificing system performance. The TDA4VE-Q1, performing low-level sensor fusion processing, provides high-performance computing for both traditional vision and deep learning algorithms and vision pre-processing acceleration to achieve a high level of system integration at low system power and costs. Pin and software-compatible members of the TDA4 product family enable scalability to higher-performance or lower-cost systems for advanced single and multi-modal ADAS sensor fusion applications.

“By leveraging the strengths of Texas Instruments and Arm, we are enhancing the functionality of LeddarVision and contributing to the future of automotive safety and autonomy. Together, we are reshaping industry standards,” stated Heinz Oyrer, Director of Strategic Partnerships at LeddarTech.

Book an appointment with LeddarTech at AutoSens Europe for a live demonstration in the LeddarNavigator and witness the benefits of AI-based low-level fusion LeddarVision products, including the LVS-2⁺ and LVF-E. These solutions are engineered to meet the stringent 5-star NCAP 2025/GSR 2022 safety standards and are validated through rigorous research and development at our Tel Aviv, Montreal and Quebec City facilities. Key performance indicators are available to customers for review upon request.

Follow the European road trip journey on our “LeddarNavigator Diaries” site.

About LeddarTech

A global software company founded in 2007 and headquartered in Quebec City with additional R&D centers in Montreal and Tel Aviv, Israel, LeddarTech develops and provides comprehensive AI-based low-level sensor fusion and perception software solutions that enable the deployment of ADAS, autonomous driving (AD) and parking applications. LeddarTech’s automotive-grade software applies advanced AI and computer vision algorithms to generate accurate 3D models of the environment to achieve better decision making and safer navigation. This high-performance, scalable, cost-effective technology is available to OEMs and Tier 1-2 suppliers to efficiently implement automotive and off-road vehicle ADAS solutions.

LeddarTech is responsible for several remote-sensing innovations, with over 160 patent applications (87 granted) that enhance ADAS, AD and parking capabilities. Better awareness around the vehicle is critical in making global mobility safer, more efficient, sustainable and affordable: this is what drives LeddarTech to seek to become the most widely adopted sensor fusion and perception software solution.

LeddarTech might, in the scope of collaborations, partnerships and projects, from time to time, collect with test vehicles personal information, i.e., information that directly or indirectly identifies members of the public. Collected personal information may be processed, used, stored and communicated by LeddarTech within the scope of developing and training our software and products. For further information about the processing activities, which include the collection, use, storage and communication of the personal information, as well as the associated personal information protection rights and how to exercise them, please consult LeddarTech’s Privacy Policy.

Additional information about LeddarTech is accessible at www.LeddarTech.com and on LinkedIn, Twitter (X), Facebook and YouTube.

Forward-Looking Statements

Certain statements contained in this Press Release may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (which forward-looking statements also include forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws), including, but not limited to, statements relating to LeddarTech’s anticipated strategy, future operations, prospects, objectives and financial projections and other financial metrics. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “may,” “will,” “should,” “would,” “expect,” “anticipate,” “plan,” “likely,” “believe,” “estimate,” “project,” “intend” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the possibility that anticipated benefits of LeddarTech’s recent business combination will not be realized; (ii) the risk that shareholder litigation in connection with the business combination or other settlements or investigations may result in significant costs of defense, indemnification and liability; (iii) changes in general economic and/or industry-specific conditions; (iv) possible disruptions from the business combination that could harm LeddarTech’s business; (v) the ability of LeddarTech to retain, attract and hire key personnel; (vi) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties; (vii) potential business uncertainty, including changes to existing business relationships following the business combination that could affect LeddarTech’s financial performance; (viii) legislative, regulatory and economic developments; (ix) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak or escalation of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; (x) access to capital and financing and LeddarTech’s ability to maintain compliance with debt covenants; (xi) LeddarTech’s ability to execute its business model, achieve design wins and generate meaningful revenue; and (xii) other risk factors as detailed from time to time in LeddarTech’s reports filed with the U.S. Securities and Exchange Commission (the “SEC”), including the risk factors contained in LeddarTech’s Annual Report on Form 20-F for the fiscal year ended September 30, 2023. The foregoing list of important factors is not exhaustive. Except as required by applicable law, LeddarTech does not undertake any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:
Daniel Aitken, Vice-President, Global Marketing, Communications and Investor Relations, LeddarTech Holdings Inc. Tel.: + 1-418-653-9000 ext. 232 daniel.aitken@LeddarTech.com

• Investor relations website: investors.LeddarTech.com
• Investor relations contact: Kevin Hunt, ICR Inc. kevin.hunt@icrinc.com
• Financial media contact: Dan Brennan, ICR Inc. dan.brennan@icrinc.com

Leddar, LeddarTech, LeddarVision, LeddarSP, VAYADrive, VayaVision and related logos are trademarks or registered trademarks of LeddarTech Holdings Inc. and its subsidiaries. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.

LeddarTech Holdings Inc. is a public company listed on the Nasdaq under the ticker symbol “LDTC.”

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7207016b-6eb5-4c0e-8821-f52cb6a9c84b

GlobeNewswire Distribution ID 9248809

RIYADH, SAUDI ARABIA – Media OutReach Newswire – 30 September 2024 – This past Saturday, the Annual Financial Services Forum in Riyadh successfully convened regulatory and industry leaders to discuss the future of the Saudi financial landscape. Hosted by j. awan & partners, the forum emphasized key strategies to enhance Saudi Arabia’s position as a global financial hub.

In attendance at the forum were key figures such as Mr. Raed Ibrahim Alhumaid, Deputy of Market Institutions at the Capital Market Authority (CMA), and Mr. Mohammed Al Rumaih, CEO of the Saudi Exchange, along with innovative entrepreneurs.

Steven Chou, Chairman of Sahm Capital, shared his insights on how Saudi Arabia can effectively compete with established financial powerhouses to attract top global talent. “Saudi Arabia has successfully drawn international professionals by offering diverse opportunities, and incentive policies,” Chou stated. “We have seen talent from financial hubs like Hong Kong relocate to the kingdom, enriching our financial ecosystem.”

Steven also discussed strategies such as relaxed visa policies and streamlined certificate recognition processes as essential incentives for attracting talent. He emphasized the growing importance of remote work structures and flexible arrangements in appealing to global professionals.

As the first non-bank international brokerage licensed by the CMA and the pioneer behind the innovative Sahm App, Sahm Capital has harnessed cutting-edge technology to serve domestic Saudi investors. This commitment has led Sahm Capital to become the fastest-growing brokerage in the KSA. Moreover, Sahm Capital has become the exclusive sponsor of the Saudi Tadawul Group’s Invest Wisely Program, aimed at improving financial literacy. Furthermore, the Sahm App has secured its position as one of the top three free finance apps in Saudi Arabia.

About Sahm Capital

Registered in Riyadh, Sahm Capital holds licenses (22251-25) from the Capital Market Authority (CMA) to conduct Dealing, Advising, and Custody services in KSA, making it the first non-bank international brokerage firm to provide online brokerage services in KSA. The company is also a registered member of the Saudi Exchange, as well as its affiliates, the Securities Depository Center Company (Edaa) and the Securities Clearing Center Company (Muqassa). For more information about Sahm, please visit: https://www.sahmcapital.com/

RIYADH, SAUDI ARABIA – Media OutReach Newswire – 30 September 2024 – This past Saturday, the Annual Financial Services Forum in Riyadh successfully convened regulatory and industry leaders to discuss the future of the Saudi financial landscape. Hosted by j. awan & partners, the forum emphasized key strategies to enhance Saudi Arabia’s position as a global financial hub.

In attendance at the forum were key figures such as Mr. Raed Ibrahim Alhumaid, Deputy of Market Institutions at the Capital Market Authority (CMA), and Mr. Mohammed Al Rumaih, CEO of the Saudi Exchange, along with innovative entrepreneurs.

Steven Chou, Chairman of Sahm Capital, shared his insights on how Saudi Arabia can effectively compete with established financial powerhouses to attract top global talent. “Saudi Arabia has successfully drawn international professionals by offering diverse opportunities, and incentive policies,” Chou stated. “We have seen talent from financial hubs like Hong Kong relocate to the kingdom, enriching our financial ecosystem.”

Steven also discussed strategies such as relaxed visa policies and streamlined certificate recognition processes as essential incentives for attracting talent. He emphasized the growing importance of remote work structures and flexible arrangements in appealing to global professionals.

As the first non-bank international brokerage licensed by the CMA and the pioneer behind the innovative Sahm App, Sahm Capital has harnessed cutting-edge technology to serve domestic Saudi investors. This commitment has led Sahm Capital to become the fastest-growing brokerage in the KSA. Moreover, Sahm Capital has become the exclusive sponsor of the Saudi Tadawul Group’s Invest Wisely Program, aimed at improving financial literacy. Furthermore, the Sahm App has secured its position as one of the top three free finance apps in Saudi Arabia.

About Sahm Capital

Registered in Riyadh, Sahm Capital holds licenses (22251-25) from the Capital Market Authority (CMA) to conduct Dealing, Advising, and Custody services in KSA, making it the first non-bank international brokerage firm to provide online brokerage services in KSA. The company is also a registered member of the Saudi Exchange, as well as its affiliates, the Securities Depository Center Company (Edaa) and the Securities Clearing Center Company (Muqassa). For more information about Sahm, please visit: https://www.sahmcapital.com/

KUWAIT CITY, KUWAIT – Media OutReach Newswire – 2 October 2024 – Novo Nordisk Gulf, a leading global healthcare company, has been recognized as one of the Best Places to Work for 2024 across Kuwait, Qatar, Bahrain, and Oman. This certification highlights the company’s dedication to fostering a supportive, innovative, and inclusive work environment for its employees while remaining committed to its mission of driving change to defeat serious chronic diseases.

During the certification process, Novo Nordisk Gulf received high ratings in key areas including employee engagement, leadership support, and workplace culture. These factors underscore the company’s success in creating a desirable workplace that aligns with its broader goal of improving health outcomes across the Gulf region.

Venkat Kalyan, Vice President & General Manager of Novo Nordisk Gulf Cluster, expressed his pride in the achievement: “We are honoured to receive the Best Place to Work recognition for Novo Nordisk Gulf Cluster. Our purpose is driving change to defeat serious chronic diseases, and this recognition serves as a testament of our commitment to this purpose, as well as our colleagues’ valuable efforts to build and sustain an innovative and inclusive workplace.”

Aydogan Cantimur, People & Organization Director at Novo Nordisk Gulf Cluster, also commented on the company’s achievement: “In Novo Nordisk Gulf Cluster, we are committed to ‘be the best workplace’ by continuously evolving our environment to the better and creating the best employee experience by implementing tangible and innovative HR practices. We are proud to be recognized as a Best Place to Work in Gulf Cluster again, which gives us the confidence that we are on the right track.”

 About Novo Nordisk

Novo Nordisk is a global healthcare company with over 95 years of innovation and leadership in diabetes care. Headquartered in Denmark, Novo Nordisk also leads in hemophilia care, growth hormone therapy, and hormone replacement therapy. The company employs approximately 70,000 people in 80 countries and markets its products in more than 170 countries.

For more information about Novo Nordisk and its commitment to the well-being of its employees and patients, visit www.novonordisk.com.

For more information, please visit www.bestplacestoworkfor.org.

LinkedIn: https://www.linkedin.com/company/best-places-to-work-program/

Twitter: http://www.twitter/bptw4

New Solution Simplifies Insurance Carriers’ Payments Delivering Secure Transaction Capabilities as Part of the Proven Duck Creek Platform

BOSTON, Oct. 02, 2024 (GLOBE NEWSWIRE) — Duck Creek Technologies, the intelligent solutions provider defining the future of property and casualty (P&C) and general insurance, today introduced its latest insurance-focused payments solution, the Duck Creek Payments Facilitator. This modern, end-to-end payment solution caters to the nuances of payments within insurance by providing carriers with access to digital payment methods for both collecting and disbursing funds.

Duck Creek Payments Facilitator delivers a global solution, combining real-time capabilities, like FedNow, with traditional payments services and Banking as a Service (BaaS) functionalities, such as transactions via push-to-card or digital wallets. Now insurers can collect or pay out to policyholders using any payment technologies in their market of choice.

“In today’s fast-evolving insurance landscape, carriers require more than just transactional solutions. They need a secure, agile, and future-proof approach to global payment processing,” said Jess Keeney, Chief Product and Technology Officer at Duck Creek Technologies. “The Duck Creek Payments Facilitator delivers exactly that—enabling insurers to effortlessly manage instant claims payouts to real-time premium payments—all from a single, proven solution.”

Duck Creek Payments includes Duck Creek Payments Facilitator and Duck Creek Payments Orchestrator, introduced earlier this year. The Duck Creek Payments Orchestrator is designed to seamlessly integrate with carriers existing systems, greatly reducing carrier integration times and costs, while still allowing access to the entire global payments ecosystem.

“As we continue to innovate and expand our offerings, our focus remains on solving the most critical challenges our insurance clients face,” said Michael Jackowski, Chief Executive Officer of Duck Creek Technologies. “The Duck Creek Payments Facilitator is designed specifically to address the unique operational demands of insurance carriers. By embedding this capability into our broader platform, we’re offering carriers a holistic approach that supports flexibility, boosts efficiency, and helps our clients deliver a frictionless experience for policyholders, agents, and vendors.”

For more information on the Duck Creek Payments Facilitator visit Duck Creek Payments.

About Duck Creek Technologies

Duck Creek Technologies is the intelligent solutions provider defining the future of the property and casualty (P&C) and general insurance industry. We are the platform upon which modern insurance systems are built, enabling the industry to capitalize on the power of the cloud to run agile, intelligent, and evergreen operations. Authenticity, purpose, and transparency are core to Duck Creek, and we believe insurance should be there for individuals and businesses when, where, and how they need it most. Our market-leading solutions are available on a standalone basis or as a full suite, and all are available via Duck Creek OnDemand. Visit www.duckcreek.com to learn more. Follow Duck Creek on our social channels for the latest information – LinkedIn and X.

Media Contacts:
Marianne Dempsey
duckcreek@threeringsinc.com

This press release was published by a CLEAR® Verified individual.

GlobeNewswire Distribution ID 9249862

• First program to combine Recursion’s end-to-end suite of AI-enabled active learning modules, resulting in target identification to IND enabling studies in under 18 months
• Plan to initiate dosing of Phase 1/2 in Q4 2024 to evaluate REC-1245 in a biomarker enriched patient population, including patients with solid tumors and lymphoma

SALT LAKE CITY, Oct. 02, 2024 (GLOBE NEWSWIRE) — Recursion (NASDAQ: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today announced that the U.S. Food and Drug Administration (FDA) has cleared an investigational new drug (IND) application for a Phase 1/2 clinical trial of REC-1245, a new chemical entity for the treatment of biomarker-enriched solid tumors and lymphoma.

Chris Gibson, Ph.D., Co-founder and CEO of Recursion said, “REC-1245 is a prime example of using an expansive AI-enabled platform for drug discovery. After exploring many predicted biological and chemical relationships across our maps of biology, we identified RMB39 as a novel target that looks functionally similar to the well-known but hard to drug target CDK12. We also identified and optimized small molecules that target RBM39 without directly impacting CDK12 or CDK13 using these same AI-enabled maps. In under 18 months, leveraging some of our newer chemistry tools, Recursion rapidly progressed REC-1245 from novel target biology to preclinical drug candidate, more than twice the speed of industry average.”

Recursion identified the novel regulatory role of RBM39 associated with CDK12 using its maps of biology and first reported this relationship in early 2023 at Download Day, Recursion’s R&D and investor event. Recursion believes the modulation of RBM39 may be associated with a therapeutic effect in certain biomarker-enriched solid tumors and lymphoma. Additionally, Recursion estimates that the initially addressable population for this potential therapeutic to be >100,000 patients in the US and EU5. REC-1245 is a potent and selective RBM39 degrader with a potential first-in-class profile. Preclinical data support that RBM39 degradation induces splicing defects which downregulate DNA Damage Response (DDR) networks and cell cycle checkpoints.

“RBM39 degraders may offer a promising therapeutic approach for patients with solid tumors, particularly those with limited treatment options,” said Najat Khan, Ph.D., Chief R&D Officer and Chief Commercial Officer at Recursion. “Recursion’s platform was among the first to rapidly uncover the therapeutic potential of RBM39 degradation, a finding now validated by independent research. This mechanism provides new opportunities for targeting tumors, which are often resistant to conventional treatments. By advancing this research, we aim to deliver a critical option for patients facing significant unmet needs, ultimately improving their prognosis and quality of life.”

The Phase 1/2 clinical trial will evaluate the safety, tolerability, pharmacokinetics, pharmacodynamics, and potential monotherapy efficacy of REC-1245, and is expected to initiate in Q4 2024.

About Recursion

Recursion (NASDAQ: RXRX) is a clinical stage TechBio company decoding biology to industrialize drug discovery. Enabling its mission is the Recursion OS, a platform built across diverse technologies that continuously expands one of the world’s largest proprietary biological and chemical datasets. Recursion leverages sophisticated machine-learning algorithms to distill from its dataset a collection of trillions of searchable relationships across biology and chemistry unconstrained by human bias. By commanding massive experimental scale — up to millions of wet lab experiments weekly — and massive computational scale — owning and operating one of the most powerful supercomputers in the world, Recursion is uniting technology, biology and chemistry to advance the future of medicine.

Recursion is headquartered in Salt Lake City, where it is a founding member of BioHive, the Utah life sciences industry collective. Recursion also has offices in Toronto, Montréal, London, and the San Francisco Bay Area. Learn more at www.Recursion.com, or connect on X (formerly Twitter) and LinkedIn.

Media Contact
Media@Recursion.com

Investor Contact
Investor@Recursion.com

Forward-Looking Statements

This document contains information that includes or is based upon “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995, including, without limitation, those regarding the potential efficacy of REC-1245; timing of and plans to initiate dosing of Phase 1 clinical trial of REC-1245; early and late stage discovery, preclinical, and clinical programs; licenses and collaborations; prospective products and their potential future indications and market opportunities; Recursion OS and other technologies; business and financial plans and performance; and all other statements that are not historical facts. Forward-looking statements may or may not include identifying words such as “plan,” “will,” “expect,” “anticipate,” “intend,” “believe,” “potential,” “continue,” and similar terms. These statements are subject to known or unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements, including but not limited to: challenges inherent in pharmaceutical research and development, including the timing and results of preclinical and clinical programs, where the risk of failure is high and failure can occur at any stage prior to or after regulatory approval due to lack of sufficient efficacy, safety considerations, or other factors; our ability to leverage and enhance our drug discovery platform; our ability to obtain financing for development activities and other corporate purposes; the success of our collaboration activities; our ability to obtain regulatory approval of, and ultimately commercialize, drug candidates; our ability to obtain, maintain, and enforce intellectual property protections; cyberattacks or other disruptions to our technology systems; our ability to attract, motivate, and retain key employees and manage our growth; inflation and other macroeconomic issues; and other risks and uncertainties such as those described under the heading “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. All forward-looking statements are based on management’s current estimates, projections, and assumptions, and Recursion undertakes no obligation to correct or update any such statements, whether as a result of new information, future developments, or otherwise, except to the extent required by applicable law.

GlobeNewswire Distribution ID 9249970

Collaboration with Intel and NVIDIA sets a new industry standard

Delivering substantial energy savings, operational efficiency, and enhanced performance for its mobile network operator customers, Mavenir has demonstrated remarkable success with its UPF solution. With a significant 40% power saving even under the most demanding conditions, such as a 100% traffic load, this impressive efficiency is due in part to Mavenir’s utilization of NVIDIA ASAP2 Accelerated Switching & Packet Processing technology, which allows Mavenir to accelerate the UPF- data plane on NVIDIA solutions and plays a pivotal role in conserving power. Leveraging Intel Infrastructure Power Manager functionality further enhances power savings, reaching up to 62% during 50% traffic load and idle load scenarios.

Substantial innovation and technological advancements can be realized when industry leaders and cutting-edge technologies come together. Mavenir’s cloud-native architecture seamlessly integrates with 4th Gen Intel Xeon Scalable Processors and NVIDIA ConnectX^®-6 Dx SmartNIC acceleration technology. This powerful combination allows customers to enjoy the dual benefits of enhanced power efficiency and high-performance packet processing.

“We have not only demonstrated significant energy savings and performance improvements for 5G core networks but have also set a new standard for energy-efficient network infrastructure,” said Ashok Khuntia, President, Core Networks, Mavenir. “This award underscores the value of strategic collaborations and the integration of our ‘green by design’ advanced technologies in driving industry-wide progress and sustainability.”

Mavenir’s solution also enables a small footprint UPF at the edge, reducing latency, improving local data processing, and minimizing operational costs. The innovative architecture, coupled with advanced technologies, ensures that Mavenir’s customers can achieve significant energy savings and operational efficiencies.

The Leading Light Network Energy Efficiency Award is given to the company that has helped a network operator best improve the energy efficiency of its networks by retiring or consolidating infrastructure, using modern software and equipment, adopting more data-driven operations and more. The Leading Lights Awards is Light Reading’s flagship awards program, now in its 20th year. It recognizes the top companies and their executives for outstanding achievements in the global communications industry, presenting an exceptional snapshot of the technology, applications, services and innovation that help telecom, cable and cloud providers stand out.

Notes to the Editor:

Light Reading’s Leading Lights 2024: The Winners

Solution Brief: Mavenir’s User Plane Function (UPF): https://www.mavenir.com/resources/mavenirs-user-plane-function-upf/

Solution Brief: Mavenir Maximizes Network Energy Efficiency With 4th Gen Intel^® Xeon^® Scalable Processors for 5G Core UPF Deployments
Converged-Packet-Core_Solution-Brief_Mavenir-Intel-SPR.pdf

Intel, the Intel logo, and other Intel marks are trademarks of Intel Corporation or its subsidiaries.

About Mavenir

Mavenir is building the future of networks today with cloud-native, AI-enabled solutions which are green by design, empowering operators to realize the benefits of 5G and achieve intelligent, automated, programmable networks. As the pioneer of Open RAN and a proven industry disruptor, Mavenir’s award-winning solutions are delivering automation and monetization across mobile networks globally, accelerating software network transformation for 300+ Communications Service Providers in over 120 countries, which serve more than 50% of the world’s subscribers. For more information, please visit www.mavenir.com

Mavenir PR Contacts:
Emmanuela Spiteri
PR@mavenir.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/37c62051-8f34-4fa9-b7f6-657fc20d7ff1

GlobeNewswire Distribution ID 9250109

Visa exemption for all visitors, world-class infrastructure and a diverse range of recreational experiences are the key factors propelling Phu Quoc into the new spotlight for MICE tourism.

PHU QUOC, VIETNAM – Media OutReach Newswire – 2 October 2024 – In Viet Nam, MICE (Meetings, Incentives, Conferences and Exhibitions) tourists from travel companies account for an average of 15-20 per cent of total visitors. The number can reach up to 60 per cent at some large companies during peak months.

Amid this trend, Phu Quoc has recently risen as a new MICE tourism paradise thanks to special visa policy and an increasing number of attractive experiences and high-standard infrastructure.

Special visa policy

Phu Quoc is currently the only destination in Viet Nam with a special visa policy. Foreigners and Vietnamese holding foreign passports who enter, exit from, and reside in Phu Quoc Island are exempt from visas with a temporary stay period of up to 30 days.

This 30-day visa-free policy simplifies procedures for MICE groups, which often have large numbers of participants.

Thanks to this policy, many international flights operate in Phu Quoc, with frequent services from countries, including South Korea, Thailand, Malaysia, Kazakhstan, Uzbekistan and Mongolia.

High-end resort system

Visitors to Pearl Island can enjoy a fresh, sunny atmosphere year-round while discovering the idyllic paradise of islands and beaches.

Phu Quoc boasts some of the world’s most beautiful beaches, including Kem Beach and Sao Beach, with creamy white sand and crystal-clear waters. It also has smaller islands, including Hon Thom and Hon May Rut, offering pristine beauty and a rich diversity of marine and forest ecosystems.

With this natural advantage, resorts along wide sandy shores are key attractions for many MICE groups seeking luxury relaxation. These spaces also serve as ideal settings for team activities and memorable outdoor parties.

A prime example is JW Marriott Phu Quoc Emerald Bay, known for successfully hosting MICE groups, including lavish Indian weddings, such as the globally renowned wedding of Rushang Shah and Kaabia Grewal.

New World Phu Quoc stands out with its villa-style accommodations, all featuring private pools, while Premier Residences Phu Quoc Emerald Bay offers 752 rooms at reasonable prices with five-star quality.

Notably, Phu Quoc’s luxurious restaurants and highly skilled chefs offer global cuisine, including vegetarian and Halal options.

Spacious conference facilities

Resorts in Phu Quoc are equipped with large conference rooms and halls, catering to a wide range of events.

In the heart of Sunset Town, opposite La Festa Phu Quoc – Curio Collection by Hilton, stands the Sun Signature Gallery convention centre, designed by renowned architect Bill Bensley.

Its highlight is the grand ballroom, which can accommodate up to 1,000 guests, featuring advanced technology and aesthetic appeal. The ballroom can host events in various formats, including classroom-style or workshops for up to 1,000 people, cocktail receptions for about 800 people, or seated dinners for 550-600 guests.

Additionally, the Sun Signature Gallery ballroom has cutting-edge lighting systems that allow 360-degree flexibility for dynamic lighting adjustments.

In late October, the Sun Paradise Land ecosystem in Phu Quoc will unveil the Sun Convention Centre that managed by New World, a new conference venue with a capacity of up to 1,000 guests.

Offering diverse experiences

MICE groups choose Phu Quoc for the reason of the wide range of top-tier entertainment and recreational activities.

For premium groups, Phu Quoc is a golfer’s paradise, with picturesque courses that attract enthusiasts. Notably, Eschuri Vung Bau offers a unique theme, taking players on a ‘forest to sea’ journey across 18 challenging holes. Kem Beach Driving Range is a perfect choice for beginners. The range features 18 lanes stretching 300 yards, equipped with an Auto Tee system, providing a comfortable and complete training experience.

Sun Paradise Land complex in southern Phu Quoc also offers an unparalleled entertainment experience.

Visitors can explore the Kiss Bridge, watch the Kiss of the Sea multimedia show, enjoy nightly fireworks displays, explore Vietnamese culture with the folk show at A Oi Theater and stroll through the seaside VUI-Fest bazaar.

At the end of the year, Sun Paradise Land will launch Symphony of the Sea show, which will feature a dynamic mix of Jetski and Flyboard performances, fireworks and Vietnamese cultural elements such as lion dance, festival drums… These outdoor shows, held in spacious venues, are perfectly suited for serving MICE groups.

Another must-do experience for any visitor to Phu Quoc is the journey on the world’s longest non-stop three-cable car to Hon Thom Island. This experience has been hailed as one of the most worthwhile in Phu Quoc by Lonely Planet, the world-renowned travel guide.