|By PR Newswire||
|November 29, 2012 03:38 AM EST||
TEL AVIV, Israel, November 29, 2012 /PRNewswire/ --
Delek Group Ltd. (TASE: DLEKG, OTCQX: DGRLY) (hereinafter: "Delek Group" or "The Group") announced today its results for the three and nine month period ended September 30, 2012. The full financial statements will be available in English on Delek Group's website at: http://www.delek-group.com.
First Nine Months 2012 Highlights
- Group operating profit of NIS 2.3 billion, an increase of 10% compared with NIS 2.1 billion in the same period last year;
- Net income reached NIS 243 million for the nine month period and NIS 93 million for the third quarter;
- Delek Group sold shares amounting to 13.9% of its subsidiary Delek US and totalling NIS 815 million
- Delek Group announced a dividend of NIS 65 million for the third quarter of 2012.
Group revenues for the first nine months of 2012 were NIS 53.5 billion, a 26% increase compared with NIS 42.3 billion in the first nine months of 2011. The increase was primarily due to the Lion Oil refinery operations which were consolidated in the corresponding period last year for only five months. In addition the increase in revenues was also due to the rise in fuel prices, which led to an increase in refinery revenues as well as an increased contribution from the downstream energy assets; Delek Europe, Delek Israel and Delek US. In the third quarter of 2012, group revenues were NIS 18.9 billion, a 24% increase compared with NIS 15.2 billion in the third quarter of 2011.
Net income in the first nine months of 2012 totaled NIS 243 million compared with a net income of NIS 451 million in the first nine months of 2011. In the first nine months of 2011, net income included NIS 348 million in capital gains from the sale of Noble Energy shares. Net income in the third quarter of 2012 totaled NIS 93 million compared with NIS 140 million in the third quarter of 2011.
Group total assets as of September 30, 2012, amounted to NIS 120 billion, compared with NIS 108 billion as of December 31, 2011.
Commented Mr. Bartfeld, CEO of Delek Group, "Our net profit for the third quarter together with the gain from the sale of our holdings in Delek US, which increased our shareholders' equity totaled to NIS 301 million. Delek US shares sold in addition to Delek US shares sold in the fourth quarter have greatly improved the cash levels at the Company. These transactions are proof of our financial flexibility and our ability to realize the inherent value in our assets. As of September 30, 2012, the Group has more than NIS 2.4 billion in Cash and cash equivalents"
Main Business Highlights
Contribution of Principal Operations to Net Income* (NIS millions)
FY Q3 Q3 9M 9M 2011 2011 2012 2011 2012 378 193 232 408 546 US Fuel Sector Operations 199 68 (31) 165 (6) Oil and Gas Exploration 12 17 26 19 66 Delek Europe 9 (2) 15 16 13 Israeli Fuel Sector Operations (23) 8 8 (13) 1 Road services in the UK (48) (4) 46 3 61 Insurance and Finance Operations 19 (39) (1) 9 27 Automotive Operations 2,064 (101) (202) (156) (465) Capital Gains & Others Net Income attributed Group's 2,610 140 93 451 243 shareholders
* Parts of the above table have been extracted from Delek Group's First Nine Months 2012 Directors Report.
Please review the full report available on the Group's website http://www.delek-group.com to view the notes for each of the items above.
Energy & Infrastructure
Oil and Gas Exploration Sector Highlights. The activities in Israel are carried out mainly through Delek Energy Ltd., Delek Drilling LP & Avner Oil Exploration LP, of which Delek Group has a controlling share.
Yam Tethys; A significant decline in natural gas production due to the depletion of the "Mari B" reservoir continued. However, its impact was minimised in the third quarter of 2012, through the increasing natural gas production from the Noa and Pinnacles reservoirs. Yam Tethys' project operator, Noble Energy Mediterranean, is producing natural gas from the "Mari B" at a rate of production that is designed to continuously maintain the reservoir production capacity, while maintaining the integrity of the production facilities of the Yam Tethys project.
Tamar, a 9.7 TCF natural gas discovery off the coast of Israel remains on track for production in the first half of 2013. Following the implementation of the requested changes by the Public Utility & Electricity Antitrust Authority, the Tamar partners have signed amendments to the agreements with the Israel Electric Company as well as many of the other natural gas consumers in Israel including Hadera Paper, Ramat Negev Energy, Ashdod Energy and Dalia Power Energies. In addition, the partners signed a take or pay agreement to supply natural gas to Dorad Energy of up to a total of 11.2 BCM. In August 2012, all conditions were met to enable the Group's gas subsidiaries to begin withdrawal of the $800 million project financing facility.
Leviathan, a 16.7 TCF natural gas discovery off the coast of Israel. The Ensco 5006 rig completed the planned work for sealing the Leviathan 2 evaluation drill. The estimated total cost of the work thus far was $85 million (at 100% of the rights). There was also an additional cost of $23 million (100%) for surveying and monitoring. It should be noted that the partnerships are covered with control of well insurance which includes all the above work with a limited liability of up to $200 million per case. The Leviathan partners have received a refund from the insurance companies for the work implemented so far.
The Leviathan #4 appraisal well started in November and is expected to last for approximately 4 months at an estimated budget of $110 million (100%). The Leviathan natural gas field is spread over a wide area and therefore it requires a number of appraisal wells. It should also be noted that Leviathan 4 is expected to be used in future for production drilling, as part of the future development plan of Leviathan. The expected depth of the well is approximately 1,600 meters, and the planned final drilling depth is approximately 5,300 meters beneath sea level.
Finally, as part of the Leviathan strategic process, a proposal to acquire 30% of the rights in Leviathan was received in September from Woodside Petroleum Ltd. It should be noted that this offer together with the other offers received are subject to, among other things, various conditions such as due diligence and additional information that may be a basis for negotiation.
Karish 1 Prospect; In November, the partners announced a new 2 TCF prospect at the "Karish 1" area in the Alon C license. A seismic survey by Netherland Sewell & Associates Ltd. gave a best estimate of the unrisked gross prospective gas resource of 2.02 TCF with a 50% geologic probability of success. The low estimate is 1.07 TCF (90% geologic probability of success) and the high estimate is 3.38 TCF (10% geologic probability of success).
Liquefied Natural Gas Project; In November, the Pre-FEED stage of the Tamar and Dalit floating liquefied natural gas project (FLNG) was completed. The Tamar partners began the second FEED phase. LNG production is expected to be up to 3 Million Metric Tonne Per Annum (MMTPA). Daewoo Shipbuilding & Marine Engineering Co. Ltd. (DSME) signed an agreement with Levant LNG Marketing and Pangea LNG BV for the completion of the FEED stage. DSME will carry out the costs of FEED and the Tamar partners will contribute a total amount of $15 million (100%). The agreement is for two years, or until the date of the final investment decision of the FLNG project, whichever is earlier.
Gas ProductionSummary; During the first 9 months of 2012, revenues from the sale of oil and gas reached NIS 611 million compared with NIS 572 million in the same period, last year. The increase in revenues was due primarily to the consolidation of Avner starting from the first quarter in 2012.
Net loss from the sector for the first nine months of 2012 was NIS 6 million, as compared to a net income of NIS 165 million in the same period during of 2011. The decline in profit during the reporting period compared to last year was due to the above-mentioned decline at the "Mari B" reservoir. However, this moderated in the third quarter as natural gas supply increased from the Noa and Pinnacles reservoirs. In addition, depreciation and amortization expenses relating to the development of these assets were recorded in the third quarter for the first time.
Delek US (NYSE: DK; Delek Group holds 53% end-Q3 2012): Revenues in the first nine months of 2012 were NIS 25.3 billion compared with NIS 18.3 billion in the first nine months of 2011. The growth was due to the consolidation of the Lion Oil refinery in El Dorado, as well as due to the increase in the price of oil which affected sales in both the refining and marketing segment, and in fuelling stations. The results of the third quarter also benefited from a benchmark Gulf Coast 5-3-2 crack spread that averaged $29.96 per barrel during the third quarter 2012. This was similar to third quarter 2011 and an improvement from $25.42 during the second quarter 2012.
Net profit in the first nine months of 2012 was NIS 842 million compared with a net profit of NIS 603 million in the first nine months of 2011. The improved profitability was due to the increased gross margins in the El Dorado refinery as well as the operation of the Tyler Refinery at the peak capacity of over 60,000 barrels per day during the third quarter.
On July 12, Delek US's wholly-owned subsidiary, Delek Logistics Partners, LP, filed a registration statement with the SEC relating to a proposed initial public offering. On November 4, Delek Logistics Partners, LP, issued the pricing of its initial public offering of 8,000,000 common units in addition to 1,200,000 common units for the over-allotment, representing limited partner interests in Delek Logistics at $21.00 per unit. The common units began trading on the New York Stock Exchange on November 2, 2012 under the ticker symbol DKL. Delek Logistics was formed by Delek US to own, operate, acquire and construct crude oil and refined products logistics and marketing assets. Following the offering Delek US's stake in Delek Logistic is 37.6%.
During the third quarter, Delek Group sold approximately 10.2% of the outstanding shares of Delek US in two tranches of 3 million shares, for a total of approximately US$147.6 million. Following the sale the Group held approximately 57% of the outstanding shares of Delek US.
The excess of the carrying value of the investment cost (net of the related tax effect of approximately NIS 64 million) in the amount of approximately NIS 208 million was recorded in the third quarter of 2012 as an increase in shareholders' equity attributable to shareholders of the Company.
In November, the Company sold an additional 2.2 million shares or 3.7% of the Delek US for approximately $57 million. Following this sale, Delek Group holds approximately 53% of Delek US.
The excess of the carrying value of the investment cost (net of related tax effect of approximately NIS 26 million) was in the amount of approximately NIS 78 million and will be recorded in the fourth quarter of 2012 as an increase in shareholders' equity attributable to shareholders of the Company.
Delek - the Israel Fuel Company Ltd. (TASE: DLKIS.TA; Delek Group holds 87% end-Q3 2012): Revenues in the first nine months of 2012 were NIS 5.0 billion compared with NIS 4.7 billion in the same period last year, representing an increase of 5%. This increase was due to the rise in the average price of gasoline during the period compared with that of last year, an increase in sales of the direct marketing segment and an increase in sales at the Menta convenience store.
Net income in the first nine months of 2012 was NIS 24 million, compared with a net income of NIS 25 million in the first nine months of 2011. Delek Israel's results were impacted by the lowering of fuel marketing margins between the comparable reporting periods. Delek Israel has and continues to take steps in order to mitigate the effects.
Delek Europe (Delek Group holds 80% end-Q3 2012) Revenues in the first nine months of 2012 were NIS 12.3 billion compared with NIS 11.9 billion in the same period last year, an increase of 3.4%. Net income in the first nine months of 2012 was NIS 68 million, compared with a net income of NIS 20 million in the first nine months of 2011. The increase was due to the increased price of gasoline compared with that of last year, as well as increased sales at its convenience stores however this was offset by a decrease in the quantity of fuel sold.
Roadchef (fully held by Delek Group). Roadchef's revenue in the first nine months of 2012 was NIS 1.042 billion versus NIS 909 million in the first nine months of last year, an increase of 15%. Net profit for Roadchef was NIS 1 million in the first nine months of 2012 versus a net loss NIS 13 million in the first nine months of last year.
Insurance and Financial Services
The activities of this segment are primarily conducted through two insurance companies; Israeli insurance company, Phoenix Holdings Ltd. (TASE: PHOE) of which Delek Group holds 55%, and general US insurer, Republic Companies, Inc. that is a wholly owned subsidiary.
The insurance and financial services sector contributed NIS 61 million to the Group's net income in the first nine months 2012, compared to a contribution of NIS 3 million in the same period last year.
Phoenix reported net profit amounting to NIS 114 million in the first nine months of 2012, compared to NIS 127 million last year. This improvement was due to improved equity market returns in the reported period compared to last year.
Republic Companies reported a net income amounting to US$1 million in the first nine months of 2012, compared with a net loss of US$ 25 million, in the first nine months of last year. Republic's results were affected by adverse weather conditions including hail storms in the States in which Republic operates. However, Republic recorded gains from sale of financial investments for a total of US$ 21.5 million in the first nine months of 2012, compared with profits totalling insignificant amounts in the same period last year.
On November 28, 2012, the Board of Directors of Delek Group declared a cash dividend distribution for the third quarter of 2012 in the amount of approximately NIS 65 million (approximately NIS 5.7131 per share) to the shareholders on record as of December 12, 2012 and the dividend will be paid on December 24, 2012.
Conference Call Details
The Group will be hosting a conference call in English on December 2, 2012 at 5:30pm Israel time, 3:30pm UK time and 10:30am Eastern Time. Management will also be available to answer investor questions.
To participate, please call one of the following teleconferencing numbers. Please begin placing your calls at least 5 minutes before the conference call commences. If you are unable to connect using the toll-free numbers, please try the international dial-in number.
US Dial-in Number: 1 866 860 9642
UK Dial-in Number: 0800 404 8418
ISRAEL Dial-in Number: 03 918 0687
INTERNATIONAL Dial-in Number: +972 3 918 0687
10:30am Eastern Time, 3:30pm UK Time, 5:30pm Israel Time
On the call, CEO Asaf Bartfeld, CFO Barak Mashraki will review and discuss the results, and will be available to answer your questions.
About The Delek Group
The Delek Group, Israel's dominant integrated energy company, is the pioneering leader of the natural gas exploration and production activities that are transforming the Eastern Mediterranean's Levant Basin into one of the energy industry's most promising emerging regions. Having discovered Tamar and Leviathan, two of the world's largest natural gas finds since 2000, Delek and its partners are now developing a balanced, world-class portfolio of exploration, development and production assets with total gross natural gas resources discovered since 2009 of approximately 33 TCF.
Delek is Israel's largest and sole domestic supplier of natural gas. In addition, Delek has built an extensive network of global downstream assets, including 1,900 gas stations and convenience stores in the U.S., Europe and Israel; petroleum refineries in the U.S. with 140,000 barrel per day of nameplate production; and pipelines and storage facilities in the US, Europe and Israel. Delek also holds significant interests in leading water desalination, power generation, insurance and automotive companies.
For more information on Delek Group please visit http://www.delek-group.com.
Delek Group Income Statement (NIS Millions)
Q1-Q3 Q1-Q3 2012 2011 Q3 2012 Q3 2011 FY 2011 Revenue 53,513 42,362 18,867 15,215 59,159 Cost of revenue 46,540 35,841 16,246 12,759 50,903 Gross profit 6,973 6,521 2,621 2,456 8,256 Sales, marketing and operating expenses - gas stations 3,096 3,040 1,067 1,071 4,157 General and administrative expenses 1,567 1,406 528 452 1,884 Other income (expenses), net (11) 27 17 (56) (602) Profit from operating activities 2,299 2,102 1,043 877 1,613 Financing income 231 484 54 57 626 Financial expenses (1,479) (1,454) (523) (456) (1,951) Profit (loss) after financing 1,051 1,132 574 478 288 Profit (Loss) from realization of investments in associates and others, net 30 60 (4) 62 3,749 Group's equity in profits (losses) of associates and partnerships, net 109 66 (2) (17) (223) Profit (loss) before income tax 1,190 1,258 568 523 3,814 Income tax 583 467 331 245 558 Profit 607 791 237 278 3,256 Attributable to: Company shareholders 243 451 93 140 2,610 Non-controlling interest 364 340 144 138 646 607 791 237 278 3,256
The notes are an integral part of the financial statement and can be found at http://www.delek-group.com
SOURCE Delek Group Ltd
The industrial software market has treated data with the mentality of “collect everything now, worry about how to use it later.” We now find ourselves buried in data, with the pervasive connectivity of the (Industrial) Internet of Things only piling on more numbers. There’s too much data and not enough information. In his session at @ThingsExpo, Bob Gates, Global Marketing Director, GE’s Intelligent Platforms business, to discuss how realizing the power of IoT, software developers are now focused on understanding how industrial data can create intelligence for industrial operations. Imagine ...
Jan. 31, 2015 06:30 AM EST Reads: 3,016
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, discussed 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 t...
Jan. 31, 2015 05:45 AM EST Reads: 5,090
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
Jan. 31, 2015 05:00 AM EST Reads: 4,527
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immediate and actionable interpretation of events as they happen. Another aspect concerns how to deliver ...
Jan. 31, 2015 03:00 AM EST Reads: 4,997
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Jan. 31, 2015 02:00 AM EST Reads: 10,699
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Jan. 31, 2015 02:00 AM EST Reads: 5,039
In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect at GE, and Ibrahim Gokcen, who leads GE's advanced IoT analytics, focused on the Internet of Things / Industrial Internet and how to make it operational for business end-users. Learn about the challenges posed by machine and sensor data and how to marry it with enterprise data. They also discussed the tips and tricks to provide the Industrial Internet as an end-user consumable service using Big Data Analytics and Industrial Cloud.
Jan. 31, 2015 01:00 AM EST Reads: 4,630
Things are being built upon cloud foundations to transform organizations. This CEO Power Panel at 15th Cloud Expo, moderated by Roger Strukhoff, Cloud Expo and @ThingsExpo conference chair, addressed the big issues involving these technologies and, more important, the results they will achieve. Rodney Rogers, chairman and CEO of Virtustream; Brendan O'Brien, co-founder of Aria Systems, Bart Copeland, president and CEO of ActiveState Software; Jim Cowie, chief scientist at Dyn; Dave Wagstaff, VP and chief architect at BSQUARE Corporation; Seth Proctor, CTO of NuoDB, Inc.; and Andris Gailitis, C...
Jan. 31, 2015 01:00 AM EST Reads: 4,392
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
Jan. 31, 2015 12:30 AM EST Reads: 5,012
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
Jan. 30, 2015 10:00 PM EST Reads: 4,491
Technology is enabling a new approach to collecting and using data. This approach, commonly referred to as the "Internet of Things" (IoT), enables businesses to use real-time data from all sorts of things including machines, devices and sensors to make better decisions, improve customer service, and lower the risk in the creation of new revenue opportunities. In his General Session at Internet of @ThingsExpo, Dave Wagstaff, Vice President and Chief Architect at BSQUARE Corporation, discuss the real benefits to focus on, how to understand the requirements of a successful solution, the flow of ...
Jan. 30, 2015 03:45 PM EST Reads: 4,392
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
Jan. 30, 2015 03:15 PM EST Reads: 5,165
"People are a lot more knowledgeable about APIs now. There are two types of people who work with APIs - IT people who want to use APIs for something internal and the product managers who want to do something outside APIs for people to connect to them," explained Roberto Medrano, Executive Vice President at SOA Software, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 30, 2015 02:30 PM EST Reads: 4,567
Performance is the intersection of power, agility, control, and choice. If you value performance, and more specifically consistent performance, you need to look beyond simple virtualized compute. Many factors need to be considered to create a truly performant environment. In his General Session at 15th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, discussed how to take advantage of a multitude of compute options and platform features to make cloud the cornerstone of your online presence.
Jan. 30, 2015 02:15 PM EST Reads: 5,306
In this Women in Technology Power Panel at 15th Cloud Expo, moderated by Anne Plese, Senior Consultant, Cloud Product Marketing at Verizon Enterprise, Esmeralda Swartz, CMO at MetraTech; Evelyn de Souza, Data Privacy and Compliance Strategy Leader at Cisco Systems; Seema Jethani, Director of Product Management at Basho Technologies; Victoria Livschitz, CEO of Qubell Inc.; Anne Hungate, Senior Director of Software Quality at DIRECTV, discussed what path they took to find their spot within the technology industry and how do they see opportunities for other women in their area of expertise.
Jan. 30, 2015 01:45 PM EST Reads: 3,798
Wearable devices have come of age. The primary applications of wearables so far have been "the Quantified Self" or the tracking of one's fitness and health status. We propose the evolution of wearables into social and emotional communication devices. Our BE(tm) sensor uses light to visualize the skin conductance response. Our sensors are very inexpensive and can be massively distributed to audiences or groups of any size, in order to gauge reactions to performances, video, or any kind of presentation. In her session at @ThingsExpo, Jocelyn Scheirer, CEO & Founder of Bionolux, will discuss ho...
Jan. 30, 2015 01:15 PM EST Reads: 3,117
DevOps Summit 2015 New York, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that it is now accepting Keynote Proposals. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential.
Jan. 30, 2015 01:15 PM EST Reads: 4,399
Almost everyone sees the potential of Internet of Things but how can businesses truly unlock that potential. The key will be in the ability to discover business insight in the midst of an ocean of Big Data generated from billions of embedded devices via Systems of Discover. Businesses will also need to ensure that they can sustain that insight by leveraging the cloud for global reach, scale and elasticity.
Jan. 30, 2015 01:00 PM EST Reads: 6,175
We’re no longer looking to the future for the IoT wave. It’s no longer a distant dream but a reality that has arrived. It’s now time to make sure the industry is in alignment to meet the IoT growing pains – cooperate and collaborate as well as innovate. In his session at @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, will examine the key ingredients to IoT success and identify solutions to challenges the industry is facing. The deep industry expertise behind this presentation will provide attendees with a leading edge view of rapidly emerging IoT oppor...
Jan. 30, 2015 12:45 PM EST Reads: 2,913
“With easy-to-use SDKs for Atmel’s platforms, IoT developers can now reap the benefits of realtime communication, and bypass the security pitfalls and configuration complexities that put IoT deployments at risk,” said Todd Greene, founder & CEO of PubNub. PubNub will team with Atmel at CES 2015 to launch full SDK support for Atmel’s MCU, MPU, and Wireless SoC platforms. Atmel developers now have access to PubNub’s secure Publish/Subscribe messaging with guaranteed ¼ second latencies across PubNub’s 14 global points-of-presence. PubNub delivers secure communication through firewalls, proxy ser...
Jan. 30, 2015 12:45 PM EST Reads: 2,598