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First Data Reports First Quarter 2014 Financial Results

First Data Corporation today reported its financial results for the first quarter ended March 31, 2014. Consolidated revenue for the first quarter was $2.6 billion, up $49 million, or 2%, compared to a year ago, primarily driven by a $30 million increase in reimbursable debit network fees, postage and other, and an increase in card services revenue. Adjusted revenue, which excludes certain items including debit network fees, was up 2% year-over-year at $1.6 billion.

For the first quarter, the net loss attributable to First Data was $201 million, compared to a loss of $337 million a year ago on a $93 million improvement in operating income. Adjusted earnings before interest, taxes, depreciation and amortization (adjusted EBITDA) was $614 million, up $93 million, or 18%, compared to $520 million in the first quarter of 2013, driven by an improvement in revenue and operating expenses. EBITDA margin for the quarter was 37%, up 500 basis points versus prior year.

For the quarter, the company had a net use of $44 million in cash flow from operations after $603 million in cash interest payments. The company finished the quarter with $758 million in unrestricted liquidity.

“First Data delivered a very good quarter, generating double-digit EBITDA growth with solid top line growth in International and steadily improving results in Financial Services,” said First Data Chairman and CEO Frank Bisignano. “We are winning in the marketplace, and we are running the company better – increasing operating effectiveness and efficiency, resulting in better client delivery and margin expansion across the business.”

Segment Results

The company has changed the name of the Retail and Alliance Services segment to Merchant Solutions, reflecting the company’s ongoing transformation from a processing company to a solutions and technology provider.

Merchant Solutions segment revenue for the first quarter was $856 million, down $5 million, compared to $861 million in the same quarter of 2013. Merchant acquiring revenue was flat on higher volumes offset by lower yield. Transaction growth was 5%, and credit mix was 71%. Average ticket was $78, up 1% compared to a year ago. Product revenue was down 2% due to the continued decline in check processing, offset by growth in equipment revenue. Segment EBITDA was $370 million, up 4% compared to $354 million in the same quarter of 2013. Cost reductions in core operations drove the EBITDA improvement. EBITDA margin for the first quarter was 43%. During the quarter Merchant Solutions added 22 new independent sales organizations, 19 bank referral agreements and one revenue sharing alliance.

Financial Services segment revenue for the first quarter was $349 million, up 5% compared to the same quarter of 2013 on new business and volume growth. The prior year quarter was also negatively impacted by 1% for a price concession to resolve a customer dispute. Average active card accounts on file were up 15% compared to the prior year, primarily driven by new card portfolios and organic growth. Debit issuer transactions were up 1% year-over-year. Segment EBITDA was $173 million, up $40 million or 30%, compared to $133 million in the same quarter of 2013, as a result of cost reductions and revenue growth mentioned above. EBITDA margin for the first quarter improved to 50%. During the quarter Financial Services renewed more than 250 contracts with financial institutions.

International segment revenue for the first quarter was $421 million, up $12 million, or 3%, compared to $409 million. On a constant currency basis, segment revenue was up $29 million, or 7%. Merchant acquiring revenue grew 5% on higher volumes while issuing revenue grew 9% on organic growth and new card portfolios. Segment EBITDA was $128 million, up $28 million, or 28%, compared to the same quarter of 2013. On a constant currency basis, segment EBITDA was up $39 million. Two expense credits, an operating tax credit and a gain on the revaluation of settlement assets, favorably impacted EBITDA by $21 million. EBITDA margin for the first quarter was 30%.

Recent Events

Rolled Out Small Business Solutions

On April 9, First Data rolled out Small Business Solutions (SBS), a new solution designed to help SMBs better manage their business. The new SBS is integrated into Clover Station, First Data’s open, cloud-based platform, which allows SMBs to manage inventory, track revenues and generate reports that distill transaction data into powerful intelligence. Merchants can customize and grow their Clover Station’s capabilities by adding apps from the ever-expanding Clover App Market. The SBS also includes features such as analytics, TransArmor and Perka, a cloud-hosted mobile loyalty marketing program. The SBS gives a small business everything they need to accept payments and run their business more efficiently.

Announced Partnerships with Visa and MasterCard for EMV Solution

During the quarter First Data announced separate agreements with Visa and MasterCard in which First Data’s STAR® Network will participate in each card network’s common U.S. Debit EMV solution. These agreements, combined with other recent industry announcements, provide a cost-effective solution to issuers, acquirers and merchants, and accelerate the ability for EMV functionality to be implemented across the U.S.

Cyber Security Summit

On March 17 and 18 First Data hosted a Cyber Security Symposium in New York, assembling a broad contingent of our colleagues and clients, as well as media and industry analysts, for an investigation into how businesses can defend themselves against cyber-attacks. The purpose was simple, to bring these parties together in order to build an ecosystem of protection against the common threat of cybercrime.

Non-GAAP Measures

In certain circumstances, results have been presented that are non-GAAP (generally accepted accounting principles) measures and should be viewed in addition to, and not in lieu of, the company's reported results. Reconciliations to comparable GAAP measures are available in the accompanying schedules and in the "Investor Relations" section of the company's website at investor.firstdata.com.

Investor Conference Call

The company will host a conference call and webcast on Wednesday, April 30, 2014, at 10:00 a.m. EDT to review the first quarter 2014 financial results. Chairman and Chief Executive Officer Frank Bisignano and Chief Financial Officer Ray Winborne will lead the call.

The call will be webcast on the “Investor Relations” section of the First Data website at http://investor.firstdata.com and a slide presentation to accompany the call will also be available on the website.

To listen to the call, dial 800-708-4540 (U.S.) or 847-619-6397(outside the U.S.); pass code 36916432, at least 10 minutes prior to the start of the call.

A replay of the call will be available through May 14, 2014, at 888-843-7419 (U.S.) or 630-652-3042 (outside the U.S.); pass code 36916432 and at http://investor.firstdata.com.

Please note: All statements made by First Data officers on this call are the property of First Data and subject to copyright protection. Other than the replay, First Data has not authorized, and disclaims responsibility for, any recording, replay or distribution of any transcription of this call.

Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive client revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction. More information about the company is available on FirstData.com as well as on Twitter, LinkedIn, Facebook and YouTube.

FIRST DATA CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(in millions)
         
Three months ended March 31,
2014 2013 Change
Revenues:
Transaction and processing service fees (a):
Merchant related services $ 941.9 $ 943.1 0%
Check services 66.1 72.4 -9%
Card services 437.5 406.8 8%
Other services 116.2 121.4 -4%
Product sales and other 203.7 202.4 1%
Reimbursable debit network fees, postage and other   874.9     844.8   4%
  2,640.3     2,590.9   2%
 
Expenses:
Cost of services (exclusive of items shown below) 645.8 718.7 -10%
Cost of products sold 80.1 82.6 -3%
Selling, general and administrative 486.2 463.3 5%
Reimbursable debit network fees, postage and other 874.9 844.8 4%
Depreciation and amortization 265.3 272.2 -3%
Other operating expenses:
Restructuring, net   3.5     18.2   NM
  2,355.8     2,399.8   -2%
Operating profit   284.5     191.1   49%
 
Interest income 3.0 2.7 11%
Interest expense (467.1 ) (469.0 ) 0%
Other income (expense) (b)   0.9     0.3   NM
  (463.2 )   (466.0 ) -1%
 
Loss before income taxes and equity earnings in affiliates (178.7 ) (274.9 ) -35%
 
Income tax expense 36.6 61.6 -41%
Equity earnings in affiliates (a)   50.4     37.7   34%
Net loss (164.9 ) (298.8 ) -45%

Less: Net income attributable to noncontrolling interests and redeemable noncontrolling interest

  35.6     38.6   -8%
Net loss attributable to First Data Corporation $ (200.5 ) $ (337.4 ) -41%
 
(See accompanying notes)
 
 
FIRST DATA CORPORATION
SUMMARY SEGMENT DATA
(Unaudited)
(in millions)
           
Three months ended March 31,
2014 2013 Change

Segment Revenues (c):

Merchant Solutions $ 856.4 $ 861.4 -1%
Financial Services 348.7 330.6 5%
International   421.3     408.6   3%
Subtotal segment revenues 1,626.4 1,600.6 2%
All Other and Corporate 31.9 29.7 7%
Adjustments to reconcile to Adjusted revenue:
Official check and money order revenues (d) (1.0 ) (1.7 ) NM
Eliminations of intersegment revenues   (16.2 )   (15.5 ) NM
Adjusted revenue   1,641.1     1,613.1   2%
 
Adjustments to reconcile to Consolidated revenues (e):
Adjustments for non-wholly-owned entities (f) 0.8 15.5 NM
Official check and money order revenues (d) 1.0 1.7 NM
ISO commission expense (g) 122.5 115.8 6%
Reimbursable debit network fees, postage and other   874.9     844.8   4%
Consolidated revenues $ 2,640.3   $ 2,590.9   2%
 

Segment EBITDA (h):

Merchant Solutions $ 369.6 $ 354.2 4%
Financial Services 173.0 133.1 30%
International   128.4     100.4   28%
Subtotal segment EBITDA 671.0 587.7 14%
All Other and Corporate   (57.5 )   (67.3 ) -15%
Adjusted EBITDA   613.5     520.4   18%
 
Adjustments to reconcile to Net loss attributable to
First Data Corporation (e):
Adjustments for non-wholly-owned entities (f) 3.7 3.1 NM
Depreciation and amortization (265.3 ) (272.2 ) -3%
Interest expense (467.1 ) (469.0 ) 0%
Interest income 3.0 2.7 11%
Other items (i) (6.8 ) (22.0 ) -69%
Income tax expense (36.6 ) (61.6 ) -41%
Stock based compensation (29.1 ) (9.2 ) NM
Official check and money order EBITDA (d) 0.6 1.3 NM
Costs of alliance conversions (j) (6.8 ) (22.6 ) NM
KKR related items (k) (6.4 ) (8.1 ) NM
Debt issuance costs (l)   (3.2 )   (0.2 ) NM
Net loss attributable to First Data Corporation $ (200.5 ) $ (337.4 ) -41%
 
 

Segment depreciation and amortization (a):

Merchant Solutions $ 108.1 $ 106.0 2%
Financial Services 79.6 80.3 -1%
International   63.1     70.2   -10%
Subtotal segment depreciation and amortization 250.8 256.5 -2%
All Other and Corporate   10.9     11.0   -1%
  261.7     267.5   -2%
Adjustments to reconcile to consolidated depreciation and amortization:
Adjustments for non-wholly-owned entities (f) 19.5 24.4 NM
Amortization of initial payments for new contracts   11.0     10.2   8%
Total consolidated depreciation and amortization $ 292.2   $ 302.1   -3%
 
 
(See accompanying notes)
 
 
FIRST DATA CORPORATION
NOTES TO FINANCIAL SCHEDULES
(Unaudited)
 
The company has changed the name of the Retail and Alliance Services segment to Merchant Solutions. This change is reflective of the company’s transformation from a processing company to a solutions and technology provider.
 
(a) Includes amortization of initial payments for new contracts (presented in "Summary Segment Data"), which is recorded as a contra-revenue within "Transaction and processing service fees" and amortization related to equity method investments, which is netted within the "Equity earnings in affiliates" line of $15.9 million and $30.5 million for the three months ended March 31, 2014 and 2013, respectively.
 
(b) Other income (expense) includes investment gains and (losses), derivative financial instruments gains and (losses), divestitures, net, and non-operating foreign currency gains and (losses) as applicable to the periods presented.
 
(c) Segment revenue is adjusted to exclude reimbursable debit network fees, postage and other. Merchant Solutions segment revenue is further adjusted to present results on a proportionate consolidation basis and to reflect the Independent Sales Organization ("ISO") commissions classified as expense on a contra-revenue basis.
 
(d) Represents an adjustment to exclude the official check and money order businesses from revenue and EBITDA due to the Company’s wind down of these businesses.
 
(e) Reconciles "Adjusted revenue" to "Consolidated revenues" or "Adjusted EBITDA" to "Net loss attributable to First Data Corporation" as reported on the Consolidated Statements of Operations.
 
(f) Net adjustment to reflect First Data’s proportionate share of alliance revenue and EBITDA within the Merchant Solutions segment, equity earnings in affiliates included in International segment revenue and amortization related to equity method investments not included in segment EBITDA.
 
(g) Independent Sales Organization commissions are presented as contra-revenue for Merchant Solutions segment revenue reporting purposes while certain of such commissions are reflected as expense in the Consolidated Statements of Operations.
 
(h) Segment EBITDA represents earnings before net interest expense, income taxes, depreciation and amortization. Merchant Solutions segment EBITDA is presented on a proportionate consolidation basis. Segment EBITDA excludes the adjustments to reconcile to "Net loss attributable to First Data Corporation."
 
(i) Includes restructuring, litigation and regulatory settlements, divestitures and impairments as applicable to the periods presented and "Other income (expense)" as presented in the Consolidated Statements of Operations.
 
(j) Costs of alliance conversions primarily represent costs directly associated with the strategy to have First Data operate the Bank of America N.A.'s ("the Bank") legacy settlement platform and costs associated with the termination of the Chase Paymentech alliance.
 
(k) Represents KKR annual sponsorship fees for management, financial and other advisory services.
 
(l) Debt issuance costs represent costs associated with issuing debt and modifying the Company’s debt structure.
 
 
FIRST DATA CORPORATION
SELECTED CONSOLIDATED BALANCE SHEET, CASH FLOW AND OTHER DATA
(in millions)
           
SELECTED CONSOLIDATED BALANCE SHEET DATA
 
March 31, December 31,
2014 2013
(Unaudited)
 
Cash and cash equivalents $ 408.5 $ 425.3
Current settlement assets 9,683.0 7,541.8
Long-term settlement assets 21.3 15.2
Total assets 37,158.2 35,239.8
 
Short-term and current portion of long-term borrowings 474.0 146.3
Settlement obligations 9,700.2 7,553.4
Long-term borrowings 22,549.1 22,556.8
Total liabilities 35,619.8 33,477.9
 
Redeemable noncontrolling interest 70.6 69.1
 
Total First Data Corporation stockholder's deficit (1,699.9 ) (1,489.6 )
Noncontrolling interests 3,167.7 3,182.4
Total equity 1,467.8 1,692.8
 
SELECTED CONSOLIDATED CASH FLOW DATA
 
Three months ended Three months ended
March 31, March 31,
2014 2013
(Unaudited) (Unaudited)
 
Source/(Use) of cash
Net cash (used in) provided by operating activities $ (44.1 ) $ 69.2
 
Net cash used in investing activities (112.5 ) (84.6 )
 
Net cash provided by (used in) financing activities 146.4 (155.0 )
 
Supplemental cash flow data
 
Cash interest payments on long-term debt (a) 603 473
 

ESTIMATED CASH INTEREST PAYMENTS ON LONG-TERM DEBT FOR 2014 and 2015 (a)(b)

 
Estimated
cash interest payments

Three months ended

on Long-term Debt
(Unaudited)
March 31, 2014 (actual) $ 603
June 30, 2014 265
September 30, 2014 630
December 31, 2014   265  
$ 1,763  
 
Year ended December 31, 2015 $ 1,825
(a)   For purposes of this schedule, long-term debt excludes interest on capital leases.
 
(b) This schedule includes estimates regarding First Data Corporation’s business which are not historical facts but are “forward-looking statements.” Forward-looking statements are based on the Company’s current expectations and assumptions regarding its business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Important factors that could cause actual results to differ materially from those in the forward-looking statements include: (i) changes in interest rates associated with the Company's variable rate debt that are materially different than the current LIBOR forward rates; (ii) changes in foreign currency exchange rates related to the Company's euro-denominated debt; and (iii) the impact of further debt modifications or issuance of new debt.
 
 
FIRST DATA CORPORATION
FINANCIAL COVENANT CALCULATION
(Unaudited)
     
As of March 31, 2014, the Company is in compliance with all applicable covenants, including its sole financial covenant with Consolidated Senior Secured Debt of $12,564.1 million, Consolidated EBITDA of $2,985.5 million and a Ratio of 4.21 to 1.00.
 
The calculation of Consolidated EBITDA under the senior secured term loan facility is as follows (in millions):
 
Last twelve months ended
March 31, 2014
Net loss attributable to First Data Corporation

$

(732.2 )
Interest expense, net (1) 1,867.4
Income tax expense 61.5
Depreciation and amortization (2)   1,202.0  
EBITDA (16) 2,398.7
 
Stock based compensation (3) 58.0
Restructuring, net (4) 56.4
Non-operating foreign currency (gains) and losses (5) 17.2
Derivative financial instruments (gains) and losses (6) 24.9
Official check and money order EBITDA (7) (2.0 )
Cost of alliance conversions and other technology initiatives (8) 52.3
KKR related items (9) 20.7
Debt issuance costs (10) 8.3
Litigation and regulatory settlements (11) 19.2
Projected near-term cost savings and revenue enhancements (12) 147.7
Net income attributable to noncontrolling interests and redeemable noncontrolling interest (13) 174.0
Equity entities taxes, depreciation and amortization (14) 9.0
Other (15)   1.1  
Consolidated EBITDA (16) $ 2,985.5  
(1)   Includes interest expense and interest income.
(2) Includes amortization of initial payments for new contracts which is recorded as a contra-revenue within "Transaction and processing service fees" of $42.3 million and amortization related to equity method investments which is netted within the "Equity earnings in affiliates" line of $75.3 million.
(3) Stock based compensation recognized as expense.
(4) Restructuring charges in connection with management's alignment of the business with strategic objectives and the departure of executive officers.
(5) Represents net gains and losses related to currency translations on certain intercompany loans and euro-denominated debt.
(6) Represents fair market value adjustments for cross-currency swaps and interest rate swaps that are not designated as accounting hedges.
(7) Represents an adjustment to exclude the official check and money order businesses from EBITDA due to wind down of these businesses.
(8) Represents costs directly associated with the strategy to have First Data operate Bank of America N.A.'s legacy settlement platform and costs associated with the termination of the Chase Paymentech alliance, both of which are considered business optimization projects, and other technology initiatives.
(9) Represents KKR annual sponsorship fees for management, financial and other advisory services.
(10) Debt issuance costs represent non-capitalized costs associated with issuing debt and modifying First Data's debt structure.
(11) Represents settlements of litigation or regulatory matters.
(12) Reflects cost savings and revenue enhancements projected to be realized as a result of specific actions as if they were achieved on the first day of the period. Includes cost savings initiatives associated with the business optimization projects and other technology initiatives described in Note 8, the Banc of America Merchant Services ("BAMS") alliance, operations and technology initiatives, headcount reductions and other addressable spend reductions.
(13) Net income attributable to noncontrolling interests and redeemable noncontrolling interest in restricted subsidiaries.
(14) Represents FDC’s proportional share of income taxes, depreciation and amortization on equity method investments.
(15) Includes items such as investments gains and losses, divestitures, impairments and other as applicable to the period presented.

(16)

EBITDA is defined as net income (loss) attributable to First Data Corporation before net interest expense, income taxes, depreciation and amortization. EBITDA is not a recognized term under U.S. generally accepted accounting principles ("GAAP") and does not purport to be an alternative to net income (loss) attributable to First Data Corporation as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. Additionally, EBITDA is not intended to be a measure of free cash flow available for management’s discretionary use as it does not consider certain cash requirements such as interest payments, tax payments and debt service requirements. The presentation of EBITDA has limitations as an analytical tool and should not be considered in isolation or as a substitute for analysis of First Data's results as reported under GAAP. Management believes EBITDA is helpful in highlighting trends because EBITDA excludes the results of decisions that are outside the control of operating management and can differ significantly from company to company depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate and capital investments. Management compensates for the limitations of using non-GAAP financial measures by using them to supplement GAAP results to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone.

 

Consolidated EBITDA (or debt covenant EBITDA) is defined as EBITDA adjusted to exclude certain non-cash items, non-recurring items that First Data does not expect to continue at the same level in the future and certain items management believes will impact future operating results and adjusted to include near-term cost savings projected to be achieved within twelve months on an annualized basis (see Note 12 above). Consolidated EBITDA is further adjusted to add net income attributable to noncontrolling interests and redeemable noncontrolling interest of certain non-wholly-owned subsidiaries and exclude other miscellaneous adjustments that are used in calculating covenant compliance under the agreements governing First Data's senior unsecured debt and/or senior secured credit facilities. The Company believes that the inclusion of supplementary adjustments to EBITDA are appropriate to provide additional information to investors about items that will impact the calculation of EBITDA that is used to determine covenant compliance under the agreements governing First Data's senior unsecured debt and/or senior secured credit facilities. Since not all companies use identical calculations, this presentation of Consolidated EBITDA may not be comparable to other similarly titled measures of other companies.

 
 
FIRST DATA CORPORATION
RECONCILIATION OF NON-GAAP MEASURES
(Unaudited)
(in millions)
 
Management believes the following non-GAAP measures provide meaningful supplemental information to assist investors in understanding our financial results and to better analyze trends in our underlying business as well as evaluate our ability to service our debt. Management uses these measures to evaluate our operating performance and our segments. Management believes these non-GAAP measurements are useful in highlighting trends because they exclude the results of decisions that are outside the control of operating management and can differ significantly from company to company depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which companies operate and capital investments. Additionally, we believe the inclusion of supplementary adjustments applied in presenting Adjusted EBITDA, described below, are appropriate to provide additional information to investors about certain material non-cash items and about non-recurring items that we do not expect to continue at the same level in the future. Management compensates for the limitations of using non-GAAP financial measures by using them to supplement GAAP results to provide a more complete understanding of the factors and trends affecting the business than GAAP results alone. Since management finds these measures useful, we believe that our investors will benefit from seeing the Company's results through the eyes of management in addition to seeing our GAAP results.
 
Adjusted revenue represents the sum of Segment revenue (as defined in Note (c) to the Financial Schedules) and All Other and Corporate revenue as adjusted to exclude revenue related to the official check and money order businesses due to the wind down of these businesses and to reflect elimination of intersegment revenues. Adjusted EBITDA represents the sum of Segment EBITDA (as defined in Note (h) to the Financial Schedules) and All Other and Corporate EBITDA. Adjusted revenue and Adjusted EBITDA are reconciled to the most directly comparable GAAP financial measures on the Summary Segment Data schedules. Non-GAAP measures for the International segment adjust for the change in foreign currency exchange rates. Management believes that these non-GAAP measures provide insight into the Company's core performance.
 
These non-GAAP financial measures should not be considered in isolation or as a substitute for the most comparable GAAP financial measures. The non-GAAP financial measures reflect an additional way of viewing aspects of our operations that, when viewed with our GAAP results and the reconciliation to the corresponding GAAP financial measures, provide a more complete understanding of our business. Investors are strongly encouraged to review our financial statements and publicly-filed reports in their entirety and not to rely on any single financial measure. A reconciliation of the non-GAAP measures to the most directly comparable GAAP financial measures is included below.
    Three months ended March 31,
2014     2013     Change

International

Segment revenue $ 421.3 $ 408.6 3%
Foreign exchange impact (1)   16.5  
Segment revenue on a constant currency basis $ 437.8 $ 408.6 7%
 
Three months ended March 31,
2014 2013 Change

International

Segment revenue - merchant acquiring $ 207.9 $ 201.1 3%
Foreign exchange impact (1)   3.5  
Segment revenue - merchant acquiring on a constant currency basis $ 211.4 $ 201.1 5%
 
Three months ended March 31,
2014 2013 Change

International

Segment revenue - card issuing $ 213.4 $ 207.5 3%
Foreign exchange impact (1)   13.0  
Segment revenue - card issuing on a constant currency basis $ 226.4 $ 207.5 9%
 
Three months ended March 31,
2014 2013 Change

International

Segment EBITDA $ 128.4 $ 100.4 28%
Foreign exchange impact (1)   10.5  
Segment EBITDA on a constant currency basis $ 138.9 $ 100.4 38%
(1) Foreign exchange impact represents the difference between actual 2014 revenue and 2014 revenue calculated using 2013 exchange rates.

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SYS-CON Events announced today that Solgenia will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional Social, Mobile and Cloud user experiences, our solutions help large and medium-sized organizations dr...
SYS-CON Events announced today that Liaison Technologies, a leading provider of data management and integration cloud services and solutions, has been named "Silver Sponsor" of SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York, NY. Liaison Technologies is a recognized market leader in providing cloud-enabled data integration and data management solutions to break down complex information barriers, enabling enterprises to make smarter decisions, faster.
Cloud is not a commodity. And no matter what you call it, computing doesn’t come out of the sky. It comes from physical hardware inside brick and mortar facilities connected by hundreds of miles of networking cable. And no two clouds are built the same way. SoftLayer gives you the highest performing cloud infrastructure available. One platform that takes data centers around the world that are full of the widest range of cloud computing options, and then integrates and automates everything. Join SoftLayer on June 9 at 16th Cloud Expo to learn about IBM Cloud's SoftLayer platform, explore se...
The WebRTC Summit 2014 New York, to be held June 9-11, 2015, at the Javits Center in New York, NY, announces that its Call for Papers is open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 16th International Cloud Expo, @ThingsExpo, Big Data Expo, and DevOps Summit.
@ThingsExpo has been named the Top 5 Most Influential M2M Brand by Onalytica in the ‘Machine to Machine: Top 100 Influencers and Brands.' Onalytica analyzed the online debate on M2M by looking at over 85,000 tweets to provide the most influential individuals and brands that drive the discussion. According to Onalytica the "analysis showed a very engaged community with a lot of interactive tweets. The M2M discussion seems to be more fragmented and driven by some of the major brands present in the M2M space. This really allows some room for influential individuals to create more high value inter...
The world's leading Cloud event, Cloud Expo has launched Microservices Journal on the SYS-CON.com portal, featuring over 19,000 original articles, news stories, features, and blog entries. DevOps Journal is focused on this critical enterprise IT topic in the world of cloud computing. Microservices Journal offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Follow new article posts on Twitter at @MicroservicesE
SYS-CON Events announced today the IoT Bootcamp – Jumpstart Your IoT Strategy, being held June 9–10, 2015, in conjunction with 16th Cloud Expo and Internet of @ThingsExpo at the Javits Center in New York City. This is your chance to jumpstart your IoT strategy. Combined with real-world scenarios and use cases, the IoT Bootcamp is not just based on presentations but includes hands-on demos and walkthroughs. We will introduce you to a variety of Do-It-Yourself IoT platforms including Arduino, Raspberry Pi, BeagleBone, Spark and Intel Edison. You will also get an overview of cloud technologies s...
SYS-CON Events announced today that SafeLogic has been named “Bag Sponsor” of SYS-CON's 16th International Cloud Expo® New York, which will take place June 9-11, 2015, at the Javits Center in New York City, NY. SafeLogic provides security products for applications in mobile and server/appliance environments. SafeLogic’s flagship product CryptoComply is a FIPS 140-2 validated cryptographic engine designed to secure data on servers, workstations, appliances, mobile devices, and in the Cloud.
Containers and microservices have become topics of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 16th Cloud Expo at the Javits Center in New York June 9-11 will find fresh new content in a new track called PaaS | Containers & Microservices Containers are not being considered for the first time by the cloud community, but a current era of re-consideration has pushed them to the top of the cloud agenda. With the launch of Docker's initial release in March of 2013, interest was revved up several notches. Then late last...
SOA Software has changed its name to Akana. With roots in Web Services and SOA Governance, Akana has established itself as a leader in API Management and is expanding into cloud integration as an alternative to the traditional heavyweight enterprise service bus (ESB). The company recently announced that it achieved more than 90% year-over-year growth. As Akana, the company now addresses the evolution and diversification of SOA, unifying security, management, and DevOps across SOA, APIs, microservices, and more.
After making a doctor’s appointment via your mobile device, you receive a calendar invite. The day of your appointment, you get a reminder with the doctor’s location and contact information. As you enter the doctor’s exam room, the medical team is equipped with the latest tablet containing your medical history – he or she makes real time updates to your medical file. At the end of your visit, you receive an electronic prescription to your preferred pharmacy and can schedule your next appointment.
GENBAND has announced that SageNet is leveraging the Nuvia platform to deliver Unified Communications as a Service (UCaaS) to its large base of retail and enterprise customers. Nuvia’s cloud-based solution provides SageNet’s customers with a full suite of business communications and collaboration tools. Two large national SageNet retail customers have recently signed up to deploy the Nuvia platform and the company will continue to sell the service to new and existing customers. Nuvia’s capabilities include HD voice, video, multimedia messaging, mobility, conferencing, Web collaboration, deskt...
The Open Compute Project is a collective effort by Facebook and a number of players in the datacenter industry to bring lessons learned from the social media giant's giant IT deployment to the rest of the world. Datacenters account for 3% of global electricity consumption – about the same as all of Switzerland or the Czech Republic -- according to people I met at the recent Open Compute Summit in San Jose. With increasing mobility at the edge of the cloud and vast new dataflows being predicted with the growth of the Internet of Things (and The Coming Age of Many Zettabytes) in the near...