|By Marketwired .||
|November 6, 2012 01:29 AM EST||
HEERLEN, NETHERLANDS -- (Marketwire) -- 11/06/12 --
* Q3 EBITDA from continuing operations EUR270 million (Q3 2011: EUR339 million)
* Life Sciences, driven by Nutrition, showed good performance, representing 76% of Q3 EBITDA
* Materials Sciences continued to perform well, except for caprolactam
* Further strategic progress with acquisitions
* Strong Q3 cash flow from operating activities of EUR253 million
* Outlook 2012 largely unchanged
Commenting on the results, Feike Sijbesma, CEO/Chairman of the DSM Managing Board, said: "Despite a challenging global trading environment DSM continued to generate good results mainly driven by our Nutrition cluster. We continued to make good progress towards our strategic goals with the purchase of Tortuga and Cargill's cultures and enzymes business. We have now invested EUR2.3 billion in acquisitions since the end of 2010, of which EUR1.9 billion in Nutrition. With these acquisitions we are building new platforms and are strengthening our downstream network. This will create significant future value for the company whilst further increasing the resilience of DSM's earnings profile."
"Our Profit Improvement Program, designed in part to offset the impact of adverse external developments, is on track to deliver significant cost savings. We expect that trading conditions will remain tough. Our strong focus on cost control and cash flow together with our strong balance sheet leaves DSM well placed to navigate near term external challenges."
Find the tables on www.dsm.com or in the pdf version of the quarterly report.
During the third quarter of 2012, the weak conditions in the global economy seen throughout the previous quarter continued. The Eurozone challenges remained significant and the slow-down in China persisted. The US continued to grow at a modest rate. Despite these conditions, DSM continued to deliver solid operational results generating Q3 EBITDA of EUR270 million which included a negative caprolactam related impact of EUR105 million compared to Q3 2011.
Nutrition delivered a 15% higher EBITDA than in Q3 2011 as a result of organic growth, positive exchange rate effects and the contribution of Ocean Nutrition Canada.
Pharma results were adversely impacted by an uneven delivery pattern at DSM Pharmaceutical Products and by lower margins.
Performance Materials performed well, except for the continued weakness of caprolactam which impacted the results of DSM Engineering Plastics.
As expected, results at Polymer Intermediates declined significantly versus last year as already in Q2, mainly due to lower caprolactam margins.
Results at the Innovation Center improved as a result of higher Biomedical sales and the acquisition of Kensey Nash.
Cash provided by operating activities amounted to EUR547 million during the first three quarters of 2012 versus EUR479 million during the same period last year. Net debt increased by EUR839 million compared to year-end 2011 to a level of EUR1,157 million, mainly due to acquisitions.
Organic sales development was -7% compared to Q3 2011 mainly due to Polymer Intermediates.
Nutrition continued to deliver organic growth by increasing volumes.
Pharma showed organic growth due to a more favorable product mix.
In Performance Materials the organic sales development of -7% was due to lower prices and lower volumes.
The organic sales development in Polymer Intermediates was due to lower volumes as well as lower caprolactam prices.
Business review by cluster
Organic sales growth was 1% compared to Q3 2011 with volume growth (2%) and slightly reduced prices (-1%). Sales growth was positively impacted by favorable exchange rates (4%) and the impact of the Ocean Nutrition Canada acquisition (4%).
Animal Nutrition & Health achieved modest volume growth despite the drought in the US which resulted in higher grain prices. This subsequently led to lower feed and meat production. Prices were slightly down.
Human Nutrition & Health prices were up slightly while volumes remained relatively stable. Nutritional Lipids experienced strong growth outside North America with synergies realized in line with targets. The integration of Ocean Nutrition Canada is on track with sales of EUR30 million and EBITDA of EUR8 million.
Personal care continued to grow especially in sun care and skin care.
DSM Food Specialties realized growth in all market segments. Especially enzymes showed strong organic growth.
EBITDA for the third quarter was EUR202 million, up EUR26 million from the same quarter a year earlier driven by higher margins, favorable exchange rates and the contribution of Ocean Nutrition Canada. At 21.4% the Q3 EBITDA margin was in line with the defined target of 20% - 23%.
Net sales growth was 1% compared to Q3 2011 driven by a more favorable product mix (+1%), favorable exchange rates (+3%) and the deconsolidation of DSM Sinochem Pharmaceutical combined with the re-integration of the Maleic Anhydride and Derivatives business (-3%). Higher volumes at DSM Sinochem Pharmaceutical compensated for reduced volumes at DSM Pharmaceutical Products.
EBITDA for the quarter was EUR4 million, down from EUR13 million in the same quarter a year earlier. Lower volumes caused by uneven delivery patterns in the DSM Pharmaceutical Products business and lower margins at DSM Sinochem Pharmaceutical, despite higher volumes, had a negative impact.
Organic sales development was -7% compared to Q3 2011 due to lower volumes in DSM Resins and lower volumes and lower prices at DSM Engineering Plastics, mainly as a result of lower polyamide-6 prices stemming from lower caprolactam prices. Currency developments and acquisitions had a positive impact on sales.
EBITDA was below Q3 last year as lower margins in the polyamide-6 value chain of DSM Engineering Plastics offset the good performance of the rest of the cluster. Despite ongoing subdued market conditions DSM Resins delivered improved results due to better margins and the implementation of cost saving actions.
Organic sales development was -24% compared to Q3 2011, due to 15% lower prices and 9% lower volumes. Currencies had a 5% positive impact on sales. Volumes were lower mainly due to scheduled caprolactam plant turnarounds in China and the US.
As expected, EBITDA was clearly below the record levels of Q3 2011. Caprolactam margins remained at the low levels reached at the end of Q2 2012. In addition, the scheduled plant turnarounds in China and the USA contributed to the lower EBITDA.
Sales improved strongly compared to Q3 2011 as a result of higher Biomedical sales as well the acquisition of Kensey Nash which has been consolidated as of June 22.
EBITDA improved due to higher sales and the acquisition of Kensey Nash which now has been integrated into the biomedical business. Kensey Nash contributed in line with expectations with sales of EUR17 million and EBITDA of EUR7 million.
The lower sales compared to Q3 2011 were due to the re-integration of the Maleic Anhydride and Derivatives business into the Pharma cluster.
EBITDA improved slightly compared to Q3 2011 as a result of the sale of certain assets at the Chemelot site which was partly offset by higher share based payment costs and higher project related costs.
Exceptional items amounted to a loss of EUR26 million before tax (EUR22 million after tax). In connection with the Profit Improvement Program, restructuring costs and provisions were recognized for an amount of EUR13 million. Acquisition related costs amounted to EUR13 million.
Net finance costs increased by EUR8 million compared to Q3 2011 to a level of EUR23 million mainly as a consequence of currency effects and less average cash at lower interest rates.
The effective tax rate was 18% compared to 19% for the full year 2011.
Net profit before exceptional items decreased by EUR56 million compared to Q3 2011 to EUR103 million mainly due to the lower Polymer Intermediates' operating profit.
Compared to Q3 2011 total net profit decreased by EUR90 million to EUR81 million.
Net earnings per ordinary share (continuing operations, before exceptional items) amounted to EUR0.61 in Q3 2012 compared to EUR0.94 in Q3 2011.
Cash flow, capital expenditure and financing
Cash provided by operating activities was EUR253 million in Q3 2012 compared to EUR323 million in Q3 2011. Year-to-date Q3 2012 cash provided by operating activities amounted to EUR547 million versus EUR479 million in the same period last year.
Excluding the acquisition effect of Ocean Nutrition Canada and Kensey Nash, Operating working capital decreased by EUR50 million compared to the level at the end of Q2 2012.
Cash flow related to capital expenditure amounted to EUR186 million in Q3 2012 compared to EUR144 million in Q3 2011. In the first three quarters of 2012 cash flow related to capital expenditure amounted to EUR474 million compared to EUR304 million in the same period last year.
Net debt increased by EUR839 million compared to year-end 2011 and stood at EUR1,157 million (gearing 16%).
DSM in motion: driving focused growth
DSM in motion: driving focused growth is the strategy that the company embarked on in September 2010. It marks the shift from an era of intensive portfolio transformation to a strategy of maximizing sustainable and profitable growth. DSM's strategic focus on Life Sciences (Nutrition and Pharma) and Materials Sciences (Performance Materials and Polymer Intermediates) is fueled by three main societal trends: Global Shifts, Climate & Energy and Health & Wellness. DSM aims to meet the unmet needs resulting from these societal trends with innovative and sustainable solutions.
Below is an update on DSM's strategic achievements in the third quarter.
Acquisitions & Partnerships: from portfolio transformation to driving focused growth
In July, DSM successfully completed the acquisition of Ocean Nutrition Canada, the leading global provider of fish-oil derived nutritional products to the dietary supplement and food and beverage markets. With this acquisition DSM strengthens and complements its Nutritional Lipids growth platform, established after the acquisition of Martek in 2011. DSM can now uniquely offer a full product range in the rapidly growing nutritional lipids category, offering both fish oil derived omega-3 fatty acids and microbially derived nutritional lipids.
In July, DSM successfully completed the acquisition of the Italian animal health and nutrition premix specialist, Cilpaz Srl. Although relatively minor in size, this acquisition underlines DSM's strategy of focused growth.
In August DSM entered into a definitive agreement to acquire Tortuga, a privately held Brazilian company, in a cash transaction for a total enterprise value of about EUR465 million (BRL 1,160 million). Tortuga is a leading company in nutritional supplements with a focus on pasture raised beef and dairy cattle. The company is headquartered in Sao Paulo, Brazil with approximately 1,200 employees. Subject to regulatory approvals, the transaction is expected to close in Q1 2013.
In October, DSM entered into a definitive agreement to acquire Cargill's cultures and enzymes business in a cash transaction for a total enterprise value of about EUR85 million. This business is a globally leading manufacturer of cultures and enzymes for the dairy and meat industries with manufacturing operations in Wisconsin (USA) and France. The business generates net sales of about EUR45 million per year with approximately 200 employees.
Since it set out its current strategic course in September 2010, DSM has invested EUR2.3 billion worth of growth-enhancing acquisitions. Nearly EUR1.9 billion is being spent in the Nutrition cluster as the company continues to further improve its attractive portfolio in health, nutrition and materials to deliver value with stronger, more stable growth and profitability.
Innovation: from building the machine to doubling innovation output
Bio-based Products & Services is making further strategic progress. The bio-succinic acid facility in Italy is currently in the start-up process. DSM and BP have extended their cooperation on the joint development of advanced bio-diesel. DSM successfully produced its first commercial batch of advanced C5 yeast for cellulosic ethanol producers.
High Growth Economies: from reaching out to being truly global
Sales to High growth Economies accounted for 37% of total sales versus 41% of total sales in Q3 2011 which was mainly due to lower caprolactam sales in China.
Net sales to China amounted to USD 398 million versus USD 554 million in Q3 2011 which was mainly due to lower sales prices at DSM Polymer Intermediates.
The outlook for the global economy remains uncertain. DSM's Profit Improvement Program is fully on track and aims to deliver EUR150 million of benefits by 2014. This program together with an on-going focus on cash generation will help to offset adverse external factors. The acquisitions announced since the end of 2010 will create considerable economic value for DSM whilst increasing the resilience of its earnings.
Nutrition continues to demonstrate its resilience with EBITDA expected to be clearly above 2011. Ocean Nutrition Canada will add about EUR20 million in EBITDA in 2012.
Business conditions in Pharma are likely to remain challenging for the remainder of the year, although DSM continues to expect to deliver a slightly improved EBITDA despite the 50% deconsolidation of the anti-infectives business. DSM continues to seek opportunities to make further strategic progress in this cluster.
Full year EBITDA for Performance Materials is expected to be slightly below 2011, due to continuing weak market conditions for caprolactam.
The adverse market conditions for Polymer Intermediates are not expected to improve during Q4 and therefore DSM anticipates EBITDA to be clearly below the exceptional 2011 result.
For the Innovation Center, EBITDA is expected to improve compared to last year due to the acquisition of Kensey Nash which will add about EUR10 million in EBITDA in 2012.
Overall, DSM remains cautious about the economic outlook for the remainder of 2012. DSM's expectations for the year are largely in line with its previous guidance, with the exception of ongoing weakness in caprolactam which also affects the Performance Materials cluster.
Assuming no further deterioration of the economic conditions, and based on its strategy, financial strength and the Profit Improvement Program, DSM will move towards the 2013 EBITDA target.
Today DSM will hold a conference call for the media from 07.30 AM to 08.00 AM CET which can be followed via a webcast and a conference call for investors and analysts from 09.00 AM to 10.00 AM CET. Details on how to access these calls can be found here. Also, information regarding DSM's third quarter results 2012 can be found in the Presentation to Investors, which can be downloaded from the Investors section of the DSM website.
Important dates Annual Report 2012 Wednesday, 20 February 2013 Report for the first quarter 2013 Thursday, 2 May 2013 Annual General Meeting of Shareholders Friday, 3 May 2013 Report for the second quarter 2013 Tuesday, 6 August 2013 Report for the third quarter 2013 Tuesday, 5 November 2013
DSM - Bright Science. Brighter Living.
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in Life Sciences and Materials Sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, pharmaceuticals, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM's 22,000 employees deliver annual net sales of about EUR9 billion. The company is listed on NYSE Euronext. More information can be found at www.dsm.com
Financial summary-pdf: http://hugin.info/130663/R/1655251/534840.pdf
Integrated report-pdf: http://hugin.info/130663/R/1655251/534841.pdf
Press release-pdf: http://hugin.info/130663/R/1655251/534839.pdf
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: DSM N.V. via Thomson Reuters ONE
All major researchers estimate there will be tens of billions devices – computers, smartphones, tablets, and sensors – connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo in Silicon Valley. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be!
Oct. 1, 2014 04:15 PM EDT Reads: 2,318
Noted IoT expert and researcher Joseph di Paolantonio (pictured below) has joined the @ThingsExpo faculty. Joseph, who describes himself as an “Independent Thinker” from DataArchon, will speak on the topic of “Smart Grids & Managing Big Utilities.” Over his career, Joseph di Paolantonio has worked in the energy, renewables, aerospace, telecommunications, and information technology industries. His expertise is in data analysis, system engineering, Bayesian statistics, data warehouses, business intelligence, data mining, predictive methods, and very large databases (VLDB). Prior to DataArchon, he served as a VP and Principal Analyst with Constellation Group. He is a member of the Boulder (Colo.) Brain Trust, an organization with a mission “to benefit the Business Intelligence and data management industry by providing pro bono exchange of information between vendors and independent analysts on new trends and technologies and to provide vendors with constructive feedback on their of...
Oct. 1, 2014 03:30 PM EDT Reads: 803
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
Sep. 30, 2014 10:30 AM EDT Reads: 1,547
There will be 50 billion Internet connected devices by 2020. Today, every manufacturer has a propriety protocol and an app. How do we securely integrate these "things" into our lives and businesses in a way that we can easily control and manage? Even better, how do we integrate these "things" so that they control and manage each other so our lives become more convenient or our businesses become more profitable and/or safe? We have heard that the best interface is no interface. In his session at Internet of @ThingsExpo, Chris Matthieu, Co-Founder & CTO at Octoblu, Inc., will discuss how these devices generate enough data to learn our behaviors and simplify/improve our lives. What if we could connect everything to everything? I'm not only talking about connecting things to things but also systems, cloud services, and people. Add in a little machine learning and artificial intelligence and now we have something interesting...
Sep. 29, 2014 06:45 AM EDT Reads: 1,900
Last week, while in San Francisco, I used the Uber app and service four times. All four experiences were great, although one of the drivers stopped for 30 seconds and then left as I was walking up to the car. He must have realized I was a blogger. None the less, the next car was just a minute away and I suffered no pain. In this article, my colleague, Ved Sen, Global Head, Advisory Services Social, Mobile and Sensors at Cognizant shares his experiences and insights.
Sep. 28, 2014 09:45 AM EDT Reads: 1,553
We are reaching the end of the beginning with WebRTC and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) irreversibly encoded. In his session at Internet of @ThingsExpo, Peter Dunkley, Technical Director at Acision, will look at how this identity problem can be solved and discuss ways to use existing web identities for real-time communication.
Sep. 27, 2014 11:30 PM EDT Reads: 1,926
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. It also ensured scalability and better service for customers, including MUY! Companies, one of the country's largest franchise restaurant companies with 232 Pizza Hut locations. This is one example of WebRTC adoption today, but the potential is limitless when powered by IoT. Attendees will learn real-world benefits of WebRTC and explore future possibilities, as WebRTC and IoT intersect to improve customer service.
Sep. 27, 2014 10:30 PM EDT Reads: 1,842
From telemedicine to smart cars, digital homes and industrial monitoring, the explosive growth of IoT has created exciting new business opportunities for real time calls and messaging. In his session at Internet of @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, will share some of the new revenue sources that IoT created for Restcomm – the open source telephony platform from Telestax. Ivelin Ivanov is a technology entrepreneur who founded Mobicents, an Open Source VoIP Platform, to help create, deploy, and manage applications integrating voice, video and data. He is the co-founder of TeleStax, an Open Source Cloud Communications company that helps the shift from legacy IN/SS7 telco networks to IP-based cloud comms. An early investor in multiple start-ups, he still finds time to code for his companies and contribute to open source projects.
Sep. 27, 2014 10:30 PM EDT Reads: 2,300
The Internet of Things (IoT) promises to create new business models as significant as those that were inspired by the Internet and the smartphone 20 and 10 years ago. What business, social and practical implications will this phenomenon bring? That's the subject of "Monetizing the Internet of Things: Perspectives from the Front Lines," an e-book released today and available free of charge from Aria Systems, the leading innovator in recurring revenue management.
Sep. 27, 2014 09:45 PM EDT Reads: 2,522
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges.
Sep. 27, 2014 08:45 PM EDT Reads: 2,396
There’s Big Data, then there’s really Big Data from the Internet of Things. IoT is evolving to include many data possibilities like new types of event, log and network data. The volumes are enormous, generating tens of billions of logs per day, which raise data challenges. Early IoT deployments are relying heavily on both the cloud and managed service providers to navigate these challenges. In her session at 6th Big Data Expo®, Hannah Smalltree, Director at Treasure Data, to discuss how IoT, Big Data and deployments are processing massive data volumes from wearables, utilities and other machines.
Sep. 27, 2014 01:00 PM EDT Reads: 2,061
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at Internet of @ThingsExpo, Erik Lagerway, Co-founder of Hookflash, will walk through the shifting landscape of traditional telephone and voice services to the modern P2P RTC era of OTT cloud assisted services.
Sep. 26, 2014 11:45 PM EDT Reads: 1,578
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehension and conference efficiency.
Sep. 26, 2014 10:45 PM EDT Reads: 1,512
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, will discuss single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example to explain some of these concepts including when to use different storage models.
Sep. 26, 2014 07:45 PM EDT Reads: 2,322
SYS-CON Events announced today that Gridstore™, the leader in software-defined storage (SDS) purpose-built for Windows Servers and Hyper-V, will exhibit at SYS-CON's 15th International Cloud Expo®, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Gridstore™ is the leader in software-defined storage purpose built for virtualization that is designed to accelerate applications in virtualized environments. Using its patented Server-Side Virtual Controller™ Technology (SVCT) to eliminate the I/O blender effect and accelerate applications Gridstore delivers vmOptimized™ Storage that self-optimizes to each application or VM across both virtual and physical environments. Leveraging a grid architecture, Gridstore delivers the first end-to-end storage QoS to ensure the most important App or VM performance is never compromised. The storage grid, that uses Gridstore’s performance optimized nodes or capacity optimized nodes, starts with as few a...
Sep. 26, 2014 06:15 PM EDT Reads: 1,692
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace. These technological reforms have not only changed computers and smartphones, but are also changing the data processing model for all information devices. In particular, in the area known as M2M (Machine-To-Machine), there are great expectations that information with a new type of value can be produced using a variety of devices and sensors saving/sharing data via the network and through large-scale cloud-type data processing. This consortium believes that attaching a huge number of devic...
Sep. 26, 2014 06:00 PM EDT Reads: 1,617
Innodisk is a service-driven provider of industrial embedded flash and DRAM storage products and technologies, with a focus on the enterprise, industrial, aerospace, and defense industries. Innodisk is dedicated to serving their customers and business partners. Quality is vitally important when it comes to industrial embedded flash and DRAM storage products. That’s why Innodisk manufactures all of their products in their own purpose-built memory production facility. In fact, they designed and built their production center to maximize manufacturing efficiency and guarantee the highest quality of our products.
Sep. 26, 2014 05:00 PM EDT Reads: 1,614
Can call centers hang up the phones for good? Intuitive Solutions did. WebRTC enabled this contact center provider to eliminate antiquated telephony and desktop phone infrastructure with a pure web-based solution, allowing them to expand beyond brick-and-mortar confines to a home-based agent model. Download Slide Deck: ▸ Here
Sep. 26, 2014 10:00 AM EDT Reads: 1,553
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital business.
Sep. 26, 2014 10:00 AM EDT Reads: 2,100
BSQUARE is a global leader of embedded software solutions. We enable smart connected systems at the device level and beyond that millions use every day and provide actionable data solutions for the growing Internet of Things (IoT) market. We empower our world-class customers with our products, services and solutions to achieve innovation and success. For more information, visit www.bsquare.com.
Sep. 26, 2014 09:45 AM EDT Reads: 1,463