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Infinite Reality Acquires Zappar for $45M to Expand Extended Reality Commerce Capabilities

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Infinite Reality, a leading firm in extended reality (XR) and immersive technologies, has acquired the XR creative platform Zappar for $45 million, further solidifying its presence in the commerce and digital media landscape. This acquisition enhances Infinite Reality’s capabilities in artificial intelligence, spatial computing, and immersive technologies, all of which are integral to reshaping digital commerce and media experiences. Amish Shah, co-founder and chief business officer of Infinite Reality, emphasized the strategic importance of the deal, stating, “Zappar’s strong European presence and partnerships with global brands align perfectly with our expansion strategy. By integrating their expertise into our portfolio, we’re creating a powerhouse of immersive technology that spans continents and industries.” The acquisition follows Infinite Reality’s $350 million funding round in July and is part of its ongoing acquisition spree, which includes 3D avatar platform Action Face in June, metaverse company Landvault in July, and a majority stake in Super League earlier this month. Zappar’s XR platform allows brands to create and manage 3D websites, augmented reality (AR) content, virtual reality (VR) experiences, and applications across various devices, including Apple Vision Pro and Meta Quest 3. Zappar CEO Caspar Thykier expressed enthusiasm, saying, “Joining Infinite Reality’s trailblazing portfolio empowers us to scale our technology and reach a much wider audience of clients and consumers, while expanding our U.S. presence.” Zappar’s product suite includes the Zapbox, an entry-level XR headset priced at $99.99, and its assistive technology, Zapvision, which enhances accessibility for people with low vision using QR codes. The deal also brings Zappar’s established partnerships with global brands like Disney, Bayer, Nestlé, and NBCUniversal, adding more value to Infinite Reality’s expanding global network, which includes operations in major cities such as Los Angeles, New York, Dubai, and London. Source: adweek

FTC Requests More Information on $6.4B IBM Planned Acquisition of HashiCorp

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The Federal Trade Commission (FTC) has made a “second request” for additional information around IBM’s (IBM) plan to acquire cloud software company HashiCorp (HCP) for $6.4 billion. HashiCorp said Monday that it received the request last week, and the companies plan to “promptly respond to the Second Request and to continue working cooperatively with the FTC.” IBM and HashiCorp still expect the acquisition to be completed by the end of 2024, according to a filing with the Securities and Exchange Commission (SEC). FTC Assessing Competitive Impacts of Deal The FTC defines a “second request” as part of the deal monitoring process that “typically asks for business documents and data that will inform the agency about the company’s products or services, market conditions where the company does business, and the likely competitive effects of the merger.” HashiCorp did not disclose what information or documents the agency requested, but the review suggests the FTC could have concerns about whether the acquisition would be harmful to competition in the cloud computing space. The deal was originally announced in April, with the sides also stating at the time that it was expected to close by the end of 2024. IBM said in announcing the deal that it was the next step in the company’s “deep focus and investment in hybrid cloud and AI.” Latest in String of FTC Investigative Moves Under the Biden administration, the FTC has stepped up its enforcement efforts, taking a more stringent approach to antitrust policy under Chair Lina Khan. Energy giants Marathon Oil (MRO) and ConocoPhillips (COP) said Friday that they had recently received a second request from the FTC over a deal announced in May that would see ConocoPhillips pay $22.5 billion to acquire Marathon. IBM shares were up less than 1% at $184.35 as of about 11:45 a.m. ET Monday. HashiCorp stock was down less than 1% at $33.44.

Cognizant to Pay $1.3 Billion in Belcan Acquisition

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The engineering resources and development company will slot in as a Cognizant operating unit. IT consultancy and reseller Cognizant signaled its high priority for engineering services by announcing its intent to acquire Belcan. New Jersey-based Cognizant is buying Belcan from private equity investor AE Industrial Partners for about $1.3 billion in stock and cash. The deal, which reportedly would add $800 million in annualized revenue, would close in the third quarter of 2024. Belcan will keep its name and function as a Cognizant operating unit. Both companies say the engineering resource and development (ER&D) market is hot right now. Cognizant, in its announcement, estimated the ER&D services market at $190 billion currently, with a compounded annual growth rate (CAGR) of 10%. Cognizant, in a news release, said adding Belcan will improve its existing Internet of Things (IoT) and digital engineering practices. But perhaps more importantly, Cognizant is expanding its vertical expertise into aerospace and defense and adding Belcan’s “blue-chip client base.” Cognizant, on the other hand, can offer IT solutions around AI, cloud, and data to Belcan’s customers, Cognizant CEO Ravi Kumar said. Google Cloud recently recognized Cognizant for its work in data analytics, and Microsoft recognized it for intelligent automation. “We see the opportunity to immediately accelerate revenue growth and create compelling shareholder value through our combined engineering capabilities,” Kumar said. “Belcan’s clients would gain access to Cognizant’s full suite of technology services, while Cognizant’s clients across the manufacturing, automotive, energy, and high-tech sectors we believe will benefit from Belcan’s engineering skills.” The combined company would employ more than 6,500 engineers and technical consultants, Cognizant said. Cognizant, in late 2023, bought ServiceNow partner Thirdera. Belcan Acquisition History Cincinnati, Ohio-based Belcan launched in 1958 and won key contracts over the years with Procter & Gamble and General Electric. Aerospace and industrial vertical-focused AE bought Belcan in 2015 for an undisclosed sum. The PE firm went on to tuck in 17 acquisitions into Belcan, including software engineering company Avista and workforce management solutions provider RTM Consulting. Belcan CEO Lance Kwasniewski will continue to lead Belcan as a Cognizant operating unit. “We are excited about this unique combination and the value creation it will bring to our customers, along with the opportunities it will provide for our employees. Cognizant will better position our team to capitalize on compelling tailwinds, including increasing outsourced ER&D spend, the transformative impact of digital engineering adoption rates, robust commercial aerospace demand, and favorable long-term defense and space spending,” Kwasniewski said. “Belcan’s experienced team has built a growth-oriented business delivering highly complex, mission-critical, scalable services to our long-standing customer base. I look forward to continuing to lead our team as we unite and leverage Belcan’s and Cognizant’s comprehensive services and cross-industry clientele to execute on our collective strategy, ultimately earning the role of our clients’ most trusted partner in intelligent engineering.” Cognizant drove $19.4 billion in fiscal year 2023 revenue.

Payhawk Looks to M&A After 86% Revenue Jump

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Spend management platform Payhawk is reportedly entering acquisition mode. Co-founder and CEO Hristo Borisov stated in an interview with CNBC on Thursday (June 6) that the company aims to acquire early-stage startups that have already raised significant funds. He asserted that Payhawk has a better “product-market fit” than its competitors, who have achieved multibillion-dollar valuations by offering free corporate cards to other startups. Payhawk issues smart cards for employees to make payments and track expenses, and it has seen significant growth in the first quarter of the year, with revenues up 86% and a 57% increase in customers. To build on this growth, Borisov mentioned that the company hopes to merge with or acquire other firms. “Many businesses that got funded in the last two or three years are now in a position where they’re looking at strategic options,” Borisov said. “This is something we’re actively doing. We’re looking for companies to buy.” “Our vision is to be able to provide a single platform that provides a homogeneous environment for your corporate expense needs with a single provider,” he added. “There is going to be some market consolidation.” These efforts coincide with the shift from traditional expense management methods to digital solutions that speed reimbursement times and reduce the risk of human error. This trend was highlighted in a recent PYMNTS report, which discussed how businesses are embracing artificial intelligence (AI) and machine learning algorithms to optimize procurement and spend management strategies. Edwin Poot and Jonathan Vaux, global chief technology officer and head of propositions and partnerships at Thredd, discussed with PYMNTS how the largest corporations in America still use very old, monolithic systems to manage their treasury functions. Ernest Rolfson, CEO and founder of Payments-as-a-Service solution Finexio, pointed out the inefficiency of manually filing reporting and reconciliations, advocating for automated, digital solutions. Research by PYMNTS Intelligence has shown that virtual cards and digital spend management solutions can help finance departments close books faster while also guarding against fraud.  

Varun Bharadwaj, Vice President – Edtech Solutions, Intercell emphasised upon upcoming technology of Intercell

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“we plan to launch more initiatives to provide end-to-end solutions for students, from their undergraduate studies to their professional careers.” Said Varun Bharadwaj Can you tell us about the initiatives and product line of Intercell? Certainly! Intercell is an online mentoring platform that bridges the gap between mentees and mentors. For instance, if a student is pursuing engineering and seeks mentorship in AI, we provide mentors on our platform who offer guidance on cracking interviews and preparing for job opportunities. Our mentors have extensive industry experience, ensuring that mentees receive practical insights and guidance. Which market or region in higher education has been more supportive of Intercell ‘s initiatives, and which do you find more dynamic and approachable? We have clients across South and North India, and we aim to cover the entire country. Additionally, we have mentors from India and abroad, spanning 18 different career fields. Our goal is to provide comprehensive support to students nationwide. What are your takeaways from this event, and how do you find it? This event has been absolutely fantastic! The speakers, veterans from the industry, provide invaluable coaching and guidance. The event effectively connects industry professionals with academia. Regarding skilling programs, our initiative spans six months, ensuring ongoing support through live sessions, chat, and email. It’s not just a one-time session but a comprehensive program to address mentees’ needs over an extended period. What should educators consider before partnering with a tech company like yours? Educators often face challenges during student placements. Intercell addresses this by providing mentorship from industry veterans, enhancing students’ chances of securing placements. Educators should consider how such partnerships can improve student outcomes and enhance their overall educational experience. Can you share any special initiatives that Intercell is currently running or planning to launch? We have already introduced job recommendations and internship recommendations. Additionally, we plan to launch more initiatives to provide end-to-end solutions for students, from their undergraduate studies to their professional careers. We’re also working with schools to ensure comprehensive grooming opportunities for students.

Exploring the Ever-Evolving Landscape of Healthtech Innovations

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Blog on Health

In recent years, Healthtech has emerged as a dynamic and rapidly evolving sector, captivating both consumers and investors alike. The onset of the COVID-19 pandemic catalyzed a surge in demand for innovative healthcare solutions, prompting the emergence of new technologies and startups aimed at revolutionizing the industry. As we navigate through this transformative period, let’s delve deeper into the world of Healthtech and explore the latest trends, opportunities, and innovations shaping the future of healthcare. Understanding Healthtech Healthtech encompasses a diverse range of technologies and solutions aimed at revolutionizing healthcare delivery, management, and outcomes. From digital health platforms and telemedicine services to AI-powered diagnostics and medical devices, Healthtech spans across various verticals, each with its unique set of challenges and opportunities. The Impact of COVID-19 The COVID-19 pandemic acted as a catalyst for innovation in the healthcare industry, driving unprecedented demand for virtual care solutions and remote monitoring technologies. Healthtech startups experienced a boom, with investors pouring capital into innovative ventures aimed at addressing the evolving needs of patients and healthcare providers. Emerging Opportunities Despite the recent slowdown in venture capital activity, certain segments within the Healthtech sector continue to thrive. Artificial Intelligence (AI) is one such area, with applications ranging from drug discovery to clinical documentation. AI-powered drug discovery, in particular, holds immense promise for accelerating the pace of pharmaceutical research and development, although challenges such as clinical trial timelines and costs remain. Another area of opportunity lies in the field of weight loss drugs, which has witnessed a surge in popularity and efficacy in recent years. With advancements in drug development and the potential to address a significant unmet need, weight loss drugs represent a transformative force in Healthtech, attracting attention from investors and entrepreneurs alike. Leading Healthtech Companies Several notable Healthtech companies have emerged as key players in the industry, leveraging innovative technologies to drive positive outcomes for patients and providers alike. From digital health platforms like Ro and PharmEasy to AI-driven solutions like Tempus and Freenome, these companies are at the forefront of innovation, reshaping the future of healthcare delivery. The Future of Healthtech As we look ahead, the future of Healthtech appears bright, albeit with challenges and uncertainties. While the overall venture capital landscape may experience fluctuations, the demand for innovative healthcare solutions remains strong. From addressing systemic challenges to improving patient outcomes and provider satisfaction, Healthtech holds the key to unlocking new possibilities in healthcare delivery and management. In conclusion, the Healthtech sector continues to evolve at a rapid pace, driven by innovation, collaboration, and a shared commitment to improving healthcare outcomes. As we navigate through this transformative period, the opportunities for growth and impact within the Healthtech space are boundless, promising a future where technology plays a central role in shaping the future of healthcare.

The Present and Future of AI in Healthcare

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Blog on health

As technology advances at an unprecedented rate, its impact on various aspects of our lives becomes increasingly significant. In the realm of healthcare, artificial intelligence (AI) stands out as a transformative force with immense potential. However, to truly appreciate its importance and potential, it’s essential to delve into what AI has achieved and how it continues to shape the present and future of healthcare. The numbers paint a compelling picture of AI’s growing influence in healthcare. With over 500 AI algorithms approved by the U.S. FDA, and digital health startups receiving billions in investments, it’s evident that AI is not just a theoretical concept but a tangible reality in the healthcare landscape. Projections indicate that the global market for AI-based healthcare solutions will exceed $208 billion by 2030, underscoring the significant investments and expectations surrounding AI in healthcare. The promise of AI in healthcare is multifaceted, ranging from early disease detection to optimizing treatment plans and enhancing patient outcomes. For instance, AI algorithms have the potential to revolutionize cancer screening by analyzing vast amounts of data, including family history, imaging results, and genetic markers, to identify individuals at higher risk of developing the disease. Additionally, AI-powered interventions can monitor patients in real-time, enabling early detection of deteriorating health conditions such as sepsis, and facilitating timely medical interventions. Despite the immense potential, the full-scale implementation of AI in healthcare presents numerous challenges. From regulatory hurdles to the need for extensive clinical trials and the integration of AI into existing healthcare workflows, realizing the promise of AI requires concerted efforts from various stakeholders. Moreover, it’s crucial to recognize that AI is not a replacement for human expertise but rather a powerful tool that complements clinical decision-making. Human clinicians bring invaluable insights and intuition to the table, which AI augments by processing vast amounts of data and identifying patterns that might elude human observation alone. Currently, AI is being utilized in various medical applications, including screening tests for complex illnesses, monitoring patient vitals for signs of deterioration, and enhancing patient safety through early warning systems. Institutions are also leveraging AI to optimize resource allocation, improve operational efficiency, and streamline administrative tasks such as billing and coding. As AI continues to mature, its role in healthcare is expected to expand beyond individual applications to encompass organization-wide workflows, clinical decision support, patient engagement, and revenue cycle management. Looking ahead, the future of AI in healthcare holds even more transformative possibilities. Medical assistants powered by AI are undergoing trials in medical facilities, with the potential to streamline scheduling, access relevant patient information, and assist healthcare providers in delivering personalized care. Moreover, AI-driven algorithms are expected to play a crucial role in organizing and analyzing vast amounts of medical data, leading to more precise diagnoses, personalized treatment plans, and better patient outcomes. However, as AI becomes more integrated into healthcare systems, concerns about privacy, data security, and algorithmic bias must be addressed. Robust measures must be implemented to ensure that patient data is protected, and AI algorithms are trained on diverse and representative datasets to avoid perpetuating biases or disparities in healthcare delivery. AI holds immense promise as a transformative force in healthcare, revolutionizing patient care, clinical decision-making, and operational efficiency. While challenges remain, the collaborative efforts of researchers, clinicians, policymakers, and technology developers are paving the way for a future where AI augments human expertise to deliver better healthcare outcomes for all. As we embark on this journey, it’s essential to recognize that AI is not a replacement for human judgment but a powerful tool that, when wielded responsibly, has the potential to revolutionize the practice of medicine.  

From Panic to Precision: Revolutionizing Code Blue Responses in Healthcare

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The frequent blare of a “Code Blue” alarm signals critical, life-threatening emergencies demanding swift and accurate responses. A meticulous 24-month analysis across tertiary care hospitals reveals a daunting reality – 720 Code Blue calls, with 620 genuine emergencies and a survival rate plummeting to 11.13% for cardiac arrests. This stark scenario necessitates a paradigm shift in the approach to emergency healthcare, inspiring a journey from panic to precision. India’s healthcare sector, once plagued by high mortality rates due to limited access to intensive care and delayed data delivery, is now at a crossroads of transformation. Innovative technologies, such as the Medical Internet of Things (IoT), Artificial Intelligence (AI), and Machine Learning (ML), are heralding a revolution in wireless patient monitoring, bridging the gap between conventional methods and cutting-edge solutions. To avert Code Blue events, a multifaceted approach is imperative, transcending reactive measures to embrace proactive strategies. Wireless patient monitoring, empowered by AI and ML, emerges as a cornerstone in this transformation. By continuously analyzing real-time vital signs, these devices act as alert sentinels, allowing healthcare providers to identify subtle changes and intervene before emergencies escalate. Predictive analytics and machine learning algorithms enhance the system’s ability to recognize patterns, contributing to a shift from crisis management to prevention. The traditional Code Blue model, while vital, comes with limitations, often triggering rushed and unorganized responses. Communication breakdowns, unfamiliarity with patients, and the high-stakes nature of the situation contribute to chaos, potentially compromising patient outcomes. To address these challenges, a shift from a reactive, panic-driven model to a proactive, precision-based approach is imperative, facilitated by continuous patient monitoring solutions. Wireless patient monitoring, akin to watchful conductors, plays a pivotal role in reducing Code Blue emergencies. These devices provide real-time vital sign data, enabling healthcare experts to respond swiftly in critical situations. In a study involving 3100 patients, real-time data transmission resulted in an 87% decrease in hospital stays, a 77% drop in deaths, and significant cost savings for patients, emphasizing the transformative impact of wireless patient monitoring on healthcare outcomes. The success of wireless patient monitoring marks not only a transformation from panic to precision but also heralds an overture of proactive care. Continuous monitoring of vital signs allows healthcare providers to anticipate and address potential issues before they escalate, reshaping emergency healthcare into a proactive, preventive paradigm. As India embraces the era of wireless patient monitoring, the ripple effects on the healthcare system are evident, transcending statistics to impact lives and improve the quality of care. The journey from panic to precision in Code Blue responses signifies a chain of transformation, rewriting the narrative of emergency healthcare and ensuring timely and effective interventions. The evolution from traditional patient monitoring to wireless solutions, complemented by cutting-edge technologies, is a beacon of hope for the healthcare industry. It represents a symphony of progress, reshaping and redefining healthcare to be more precise, proactive, and ultimately, more humane. The future has arrived, ushering in a new era where emergencies are met with the precision of a well-conducted symphony, thanks to the marriage of innovation and compassionate care.

Dr. Rajnikant Rajhans, Dean, R&D, NICMAR University, Emphasizes on Correlation of AI and NEP

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“AI is reducing the time for our faculty members, it was never a threat for us” says Dr. Rajnikant Rajhans, Dean, R&D, NICMAR University in an interview at “ArdorComm New Normal- Education Leadership Summit & Awards 2023” held in Pune, Maharashtra on 24th November 2023. How is NEP going to be transformational in aligning the upcoming labour force with market requirements at NICMAR University? NICMAR, as an industry-focused institution in construction, real estate, and infrastructure, emphasizes providing skilled labour to meet industry needs. The National Education Policy (NEP) has been instrumental in shaping our objective of outcome-based education, contributing significantly to building a skilled labour force. The focus has always been on delivering the best labour force and management to the industry, and the NEP, with its outcome-based education approach, further strengthens our ability to achieve this goal. What are the current projects that NICMAR is working on? NICMAR’s current projects are anchored in the CEB Model – Community, Environment, and Business Based research model. Our commitment to addressing community issues and offering solutions enhances the quality of our research projects. Engaging in sustainable projects with local and industrial partners, we work towards providing researched solutions and research papers. This aligns with our implementation of outcome-based education, ensuring a practical and impactful approach to our research endeavours. How is NEP and AI correlating at NICMAR University? The correlation between the National Education Policy (NEP) and Artificial Intelligence (AI) at NICMAR University is viewed positively. Today, we had an insightful presentation on the impact of AI on various aspects, including education and industries. AI, far from being a threat, is seen as a tool that enhances the efficiency of our faculty members. It has significantly reduced the time required for certain tasks, benefiting our educational ecosystem. The integration of AI into our organization is a gradual and deliberate process, aimed at improving our educational processes and overall efficiency.

Dr. V. V. Ravi Kumar, Deputy Director- Academics, Symbiosis Institute of Business Management, Pune, Expresses his views on correlation of AI and NEP

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“The correlation between AI and the New Education Policy is a key focus at Symbiosis Institute of Business Management,” said Dr. V. V. Ravi Kumar, Deputy Director- Academics, Symbiosis Institute of Business Management, Pune in an interview at “ArdorComm New Normal- Education Leadership Summit & Awards 2023” held in Pune, Maharashtra on 24th November 2023. How is Symbiosis Institute of Business Management implementing the New Education Policy? At Symbiosis Institute of Business Management, the implementation of the New Education Policy (NEP) is a progressive endeavour. The first step involves the establishment of the Academic Bank of Credit (ABC), where all students are registered. This innovative approach allows students in business management, for example, to pursue courses outside their core discipline, such as music, with the assurance of receiving credits for their efforts. The institute is actively exploring interdisciplinary avenues to ensure that students do not feel restricted, fostering a more holistic and flexible learning environment. How do you see AI and New Education Policy correlating and making the upcoming workforce market-ready? The correlation between AI and the New Education Policy is a key focus at Symbiosis Institute of Business Management. Through the Academic Bank of Credit (ABC), students can seamlessly integrate AI courses into their MBA curriculum, facilitating the transfer of credits. Regarding workforce readiness, the institute acknowledges that a significant portion of its postgraduate students already comes with industry experience, solving a part of the readiness challenge. However, the emphasis remains on providing these students with a finishing touch and an extra edge, aiming not just for industry readiness but for producing industry leaders. What’s your takeaway from today’s event? A: Today’s event presented a compelling blend of technology companies and education leaders, fostering synergy between these two critical sectors. Engaging in conversations with technology leaders revealed numerous opportunities for education institutions to adopt new approaches and technologies. The event’s innovative format created a space for dialogue that could potentially lead to impactful collaborations and advancements in the field of education. ArdorComm media is celebrating its second anniversary; any message you wish to share? Congratulations to ArdorComm Media on its second anniversary! As evident from your rapid expansion and notable achievements, it’s clear that you are making significant strides. I encourage you to explore additional formats, such as closed round tables, to engage industry and education leaders further. This approach can deepen your impact and contribute to meaningful discussions within the sector. Best wishes for continued success and growth in the years to come.