|By Business Wire||
|February 13, 2013 06:30 AM EST||
Blackbaud, Inc. (Nasdaq: BLKB), the leading global provider of software and services to the nonprofit sector, today announced financial results for its fourth quarter and full year ended December 31, 2012.
Marc Chardon, Chief Executive Officer of Blackbaud, stated, “Blackbaud reported solid fourth quarter results that were at the high-end or above our guidance from a revenue and profitability perspective. Each of our business units performed well during the quarter, and we are pleased to see early signs of acceleration in the opportunity pipeline for the Luminate product line that we gained through our acquisition of Convio.”
Chardon added, “During 2012, the acquisition of Convio significantly increased our scale, recurring revenue and presence in the fastest growing segment of the nonprofit market. We also made solid progress on our combined company go-to-market strategies, from which we expect to benefit over the course of 2013 and beyond. We are confident that our unique, best-of-breed offerings in online fundraising and CRM for nonprofits of all sizes and across verticals position us well to gain share in our underpenetrated, multi-billion dollar market opportunity.”
Fourth Quarter 2012 GAAP Financial Results
Blackbaud reported total revenue of $120.1 million for the fourth quarter of 2012, an increase compared to $95.0 million for the fourth quarter of 2011. Income from operations and net income, determined in accordance with GAAP, were $9.9 million and $3.3 million, respectively, compared with $10.6 million and $6.4 million, respectively, for the fourth quarter of 2011. Diluted earnings per share were $0.07 for the fourth quarter of 2012, compared with $0.14 in the same period last year.
Fourth Quarter 2012 Non-GAAP Financial Results
Blackbaud reported total non-GAAP revenue of $120.8 million, which includes $0.8 million of the deferred revenue write down associated with the Convio acquisition. Non-GAAP income from operations, which excludes stock-based compensation expense, amortization of intangibles arising from business combinations, acquisition-related expenses, integration and restructuring costs and an impairment of a cost method investment, was $22.3 million for the fourth quarter of 2012, an increase from $19.1 million in the same period last year. Non-GAAP net income was $12.0 million for the fourth quarter of 2012, compared to $11.8 million in the same period last year. Non-GAAP diluted earnings per share were $0.27 for the fourth quarter of 2012, consistent with the same period last year.
A reconciliation between GAAP and non-GAAP results has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”
Tony Boor, Chief Financial Officer of Blackbaud, stated, “We successfully executed against our synergies targets following the combination of Blackbaud and Convio and achieved our goal of $9-$10 million of annualized cost savings by the end of 2012. In addition, as part of rationalizing our combined operations and cost structure, we recently took actions that are expected to generate an additional $10 million of cost savings in 2013.” Boor added, “We remain very focused on delivering significant improvement in our non-GAAP operating margin during 2013 and beyond, which we believe will drive increased shareholder value. In addition, the improvement in our pipeline related to Convio’s offerings is a further step toward ultimately realizing revenue synergies over the long-term.”
Balance Sheet and Cash Flow
The Company ended the fourth quarter with $13.5 million in cash, compared to $25.6 million at the end of the third quarter. The Company generated $29.0 million in cash flow from operations during the fourth quarter, contributing to $68.7 million for the twelve months ended December 31, 2012.
Full Year 2012 GAAP and Non-GAAP Financial Results
Blackbaud reported total revenue of $447.4 million for the full year 2012, an increase compared to $370.9 million for 2011. Income from operations and net income, determined in accordance with GAAP, were $19.4 million and $6.6 million for the full year 2012, respectively, compared with $50.9 million and $33.2 million, respectively, for 2011. Diluted earnings per share were $0.15 for the full year 2012, compared with $0.75 for 2011.
Non-GAAP revenue, which includes $5.6 million of the deferred revenue write down associated with the Convio acquisition, was $453.0 million. Non-GAAP income from operations, which also excludes stock-based compensation expense, amortization of intangibles arising from business combinations, acquisition-related expenses, integration and restructuring costs and an impairment of a cost method investment, was $75.5 million for the full year 2012, compared to $76.5 million for 2011. Non-GAAP net income was $42.3 million for the full year 2012, compared to $46.9 million for 2011. Non-GAAP diluted earnings per share were $0.95 for the full year 2012, compared to $1.06 for 2011.
A reconciliation of GAAP to non-GAAP results has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”
Dividend and Share Repurchase Program
Blackbaud announced today that its Board of Directors has approved a first quarter 2013 dividend of $0.12 per share payable on March 15, 2013, to stockholders of record on February 28, 2013. Additionally, as of December 31, 2012, $50.0 million remained available under the Company’s share repurchase program.
Conference Call Details
Blackbaud will host a conference call today, February 13, 2013, at 8:00 a.m. (Eastern Time) to discuss the Company's financial results, operations and related matters. To access this call, dial 877-407-3982 (domestic) or 201-493-6780 (international). A replay of this conference call will be available through February 20, 2013, at 877-870-5176 (domestic) or 858-384-5517 (international). The replay passcode is 407059. A live webcast of this conference call will be available on the "Investor Relations" page of the Company's website at www.blackbaud.com/investorrelations, and a replay will be archived on the website as well.
Serving the nonprofit and education sectors for 30 years, Blackbaud (NASDAQ: BLKB) combines technology and expertise to help organizations achieve their missions. Blackbaud works with more than 27,000 nonprofit customers in over 60 countries that support higher education, healthcare, human services, arts and culture, faith, the environment, independent K-12 education, animal welfare and other charitable causes. The company offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes including: fundraising, eMarketing, advocacy, constituent relationship management (CRM), payment services, analytics and vertical-specific solutions. Using Blackbaud technology, these organizations raise more than $100 billion each year. Recognized as a top company by Forbes, InformationWeek and Software Magazine, and honored by Best Places to Work, Blackbaud is headquartered in Charleston, South Carolina and has operations in the United States, Australia, Canada, Mexico, the Netherlands and the United Kingdom. For more information, visit www.blackbaud.com.
Except for historical information, all of the statements, expectations, and assumptions contained in this news release are forward-looking statements which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to statements regarding: the opportunity pipeline for Luminate and other Convio products; expected benefits from our combined company go-to-market strategies; the ability of our product offerings to position us to gain market share; future cost savings; our ability to deliver improved non-GAAP operating margin; and, our ability to realize revenue synergies. These statements involve a number of risks and uncertainties. Although Blackbaud attempts to be accurate in making these forward-looking statements, it is possible that future circumstances might differ from the assumptions on which such statements are based. In addition, other important factors that could cause results to differ materially include the following: management of integration of acquired companies and other risks associated with acquisitions; general economic risks; uncertainty regarding increased business and renewals from existing customers; continued success in sales growth; risks associated with successful implementation of multiple integrated software products; the ability to attract and retain key personnel; risks related to our leverage, dividend policy and share repurchase program, including potential limitations on our ability to grow and the possibility that we might discontinue payment of dividends; risks relating to restrictions imposed by the credit facility; risks associated with management of growth; lengthy sales and implementation cycles, particularly in larger organizations; technological changes that make our products and services less competitive; and the other risk factors set forth from time to time in the SEC filings for Blackbaud, copies of which are available free of charge at the SEC’s website at www.sec.gov or upon request from Blackbaud's investor relations department. Blackbaud assumes no obligation and does not intend to update these forward-looking statements, except as required by law. All Blackbaud product names appearing herein are trademarks or registered trademarks of Blackbaud, Inc.
Non-GAAP Financial Measures
Blackbaud has provided in this release financial information that has not been prepared in accordance with GAAP. This information includes non-GAAP revenue, non-GAAP income from operations, non-GAAP net income, non-GAAP diluted earnings per share and non-GAAP operating margin. Blackbaud uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating Blackbaud's ongoing operational performance. Blackbaud believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in Blackbaud's industry, many of which present similar non-GAAP financial measures to investors. Non-GAAP financial results discussed above exclude: a write-down of Convio deferred revenue; stock-based compensation expense; costs associated with amortization of intangibles arising from business combinations; acquisition-related expense; integration and restructuring costs; a write-off of prepaid proprietary software licenses; a charge associated with impairment of cost method investment; and, a gain in connection with the sale of assets. We use these measures and believe them useful to investors because they provide additional insight in comparing results from period to period.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures. As previously mentioned, a reconciliation of our non-GAAP financial measures to their most directly comparable GAAP measures has been provided in the financial statement tables included below in this press release.
|Consolidated balance sheets|
|December 31,||December 31,|
|(in thousands, except share amounts)||2012||2011|
|Cash and cash equivalents||$||13,491||$||52,520|
|Donor restricted cash||68,177||40,205|
Accounts receivable, net of allowance of $8,546 and $3,913
|Prepaid expenses and other current assets||40,589||31,016|
|Deferred tax asset, current portion||15,799||1,551|
|Total current assets||213,748||187,948|
|Property and equipment, net||49,063||34,397|
|Deferred tax asset||-||29,376|
|Intangible assets, net||168,037||44,660|
|Liabilities and stockholders' equity|
|Trade accounts payable||$||13,623||$||13,464|
|Accrued expenses and other current liabilities||45,996||32,707|
|Debt, current portion||10,000||-|
|Deferred revenue, current portion||173,899||153,665|
|Total current liabilities||311,695||240,041|
|Debt, net of current portion||205,500||-|
|Deferred tax liability||24,468||-|
|Deferred revenue, net of current portion||11,119||9,772|
|Commitments and contingencies|
|Preferred stock; 20,000,000 shares authorized, none outstanding||-||-|
Common stock, $0.001 par value; 180,000,000
|Additional paid-in capital||203,638||175,401|
Treasury stock, at cost; 9,209,371 and 9,019,824 shares
|Accumulated other comprehensive loss||(1,973||)||(1,148||)|
|Total stockholders' equity||147,684||140,002|
|Total liabilities and stockholders' equity||$||705,747||$||392,590|
|Consolidated statements of comprehensive income|
|Three months ended December 31,||Years ended December 31,|
|(in thousands, except share and per share amounts)||2012||2011||2012||2011|
|Cost of revenue|
|Cost of license fees||831||735||2,993||3,345|
|Cost of subscriptions||19,622||12,276||68,773||42,536|
|Cost of services||25,429||19,896||97,208||79,086|
|Cost of maintenance||7,057||6,371||26,001||25,178|
|Cost of other revenue||2,813||2,796||7,485||7,049|
|Total cost of revenue||55,752||42,074||202,460||157,194|
|Sales and marketing||24,339||18,280||95,218||75,361|
|Research and development||17,327||12,460||64,692||47,672|
|General and administrative||12,069||9,580||63,308||36,933|
|Impairment of cost method investment||-||1,800||200||1,800|
|Total operating expenses||54,424||42,372||225,524||162,746|
|Income from operations||9,875||10,599||19,435||50,928|
|Other income (expense), net||(326||)||168||(392||)||346|
|Income before provision for income taxes||7,342||10,760||13,325||51,257|
|Income tax provision||4,072||4,409||6,742||18,037|
|Earnings per share|
|Common shares and equivalents outstanding|
|Basic weighted average shares||44,345,887||43,738,007||44,145,535||43,522,563|
|Diluted weighted average shares||44,757,841||44,337,711||44,691,845||44,149,054|
|Dividends per share||$||0.12||$||0.12||$||0.48||$||0.48|
|Other comprehensive income (loss)|
|Foreign currency translation adjustment||(22||)||(232||)||(34||)||(336||)|
|Unrealized gain (loss) on derivative instruments, net of tax||92||-||(791||)||-|
|Total other comprehensive income (loss)||70||(232||)||(825||)||(336||)|
|Consolidated statements of cash flows|
|Years ended December 31,|
|Cash flows from operating activities|
Adjustments to reconcile net income to net cash provided by
Depreciation and amortization
|Provision for doubtful accounts and sales returns||9,591||5,646|
|Stock-based compensation expense||19,240||14,884|
|Excess tax benefits from stock-based compensation||(81||)||(932||)|
|Impairment of cost method investment||200||1,800|
|Gain on sale of assets||-||(549||)|
|Other non-cash adjustments||747||(878||)|
|Changes in operating assets and liabilities, net of acquisition of businesses:|
|Prepaid expenses and other assets||(8,817||)||(2,915||)|
|Trade accounts payable||(1,363||)||1,714|
|Accrued expenses and other liabilities||(388||)||(1,056||)|
|Donor restricted cash||(27,990||)||(22,862||)|
|Net cash provided by operating activities||68,691||85,527|
|Cash flows from investing activities|
|Purchase of property and equipment||(20,557||)||(18,215||)|
|Purchase of net assets of acquired companies, net of cash acquired||(280,687||)||(23,385||)|
|Capitalized software development costs||(1,245||)||(1,012||)|
|Proceeds from sale of assets||-||874|
|Net cash used in investing activities||(302,489||)||(41,738||)|
|Cash flows from financing activities|
|Proceeds from issuance of debt||315,000||-|
|Payments on debt||(99,500||)||-|
|Payments of deferred financing costs||(2,440||)||(767||)|
|Proceeds from exercise of stock options||3,146||2,041|
|Excess tax benefits from stock-based compensation||81||932|
|Dividend payments to stockholders||(21,731||)||(21,429||)|
|Payments on capital lease obligations||-||(40||)|
|Net cash provided by (used in) financing activities||194,556||(19,263||)|
|Effect of exchange rate on cash and cash equivalents||213||(10||)|
|Net increase (decrease) in cash and cash equivalents||(39,029||)||24,516|
|Cash and cash equivalents, beginning of year||52,520||28,004|
|Cash and cash equivalents, end of year||$||13,491||$||52,520|
|Reconciliation of GAAP to Non-GAAP financial measures|
|Three months ended December 31,||Years ended December 31,|
|(in thousands, except per share amounts)||2012||2011||2012||2011|
|Add back: Convio deferred revenue writedown||771||-||5,592||-|
|Total Non-GAAP adjustments||771||-||5,592||-|
|GAAP gross profit||$||64,299||$||52,971||$||244,959||$||213,674|
|Add: Convio deferred revenue writedown||771||-||5,592||-|
|Add: Stock-based compensation expense||1,238||903||4,184||3,278|
|Add: Amortization of intangibles from business combinations||5,032||1,725||15,243||6,598|
|Add: Acquisition integration costs||(8||)||-||589||-|
|Add: Write-off of prepaid proprietary software licenses||-||-||350||-|
|Total Non-GAAP adjustments||7,033||2,628||25,958||9,876|
|Non-GAAP gross profit||$||71,332||$||55,599||$||270,917||$||223,550|
|Non-GAAP gross margin||59||%||58||%||60||%||60||%|
|GAAP income from operations||$||9,875||$||10,599||$||19,435||$||50,928|
|Add: Convio deferred revenue writedown||771||-||5,592||-|
|Add: Stock-based compensation expense||4,786||3,971||19,240||14,884|
|Add: Amortization of intangibles from business combinations||5,721||1,977||17,349||7,578|
|Add: Acquisition integration and restructuring costs||1,127||-||6,923||-|
|Add: Acquisition-related expenses||-||786||6,428||1,840|
|Add: Write-off of prepaid proprietary software licenses||-||-||350||-|
|Add: Impairment of cost method investment||-||1,800||200||1,800|
|Less: Gain on sale of assets||-||-||-||(549||)|
|Total Non-GAAP adjustments||12,405||8,534||56,082||25,553|
|Non-GAAP income from operations||$||22,280||$||19,133||$||75,517||$||76,481|
|Non-GAAP operating margin||18||%||20||%||17||%||21||%|
|GAAP net income||$||3,270||$||6,351||$||6,583||$||33,220|
|Add: Total Non-GAAP adjustments affecting income from operations||12,405||8,534||56,082||25,553|
|Less: Tax impact related to Non-GAAP adjustments||(3,631||)||(3,117||)||(20,327||)||(11,919||)|
|Non-GAAP net income||$||12,044||$||11,768||$||42,338||$||46,854|
|Shares used in computing Non-GAAP diluted earnings per share||44,758||44,338||44,692||44,149|
|Non-GAAP diluted earnings per share||$||0.27||$||0.27||$||0.95||$||1.06|
|Detail of Non-GAAP adjustments:|
|Stock-based compensation expense:|
|Cost of revenue|
|Cost of subscriptions||$||126||$||164||$||860||$||571|
|Cost of services||875||571||2,786||1,966|
|Cost of maintenance||237||168||538||741|
|Sales and marketing||794||391||2,527||1,325|
|Research and development||1,078||766||3,556||3,039|
|General and administrative||1,676||1,911||8,973||7,242|
|Total stock-based compensation expense||$||4,786||$||3,971||$||19,240||$||14,884|
|Amortization of intangibles from business combinations|
|Cost of revenue|
|Cost of license fees||$||120||$||156||$||485||$||635|
|Cost of subscriptions||4,237||901||11,969||3,341|
|Cost of services||542||400||1,992||1,572|
|Cost of maintenance||114||249||722||975|
|Cost of other revenue||19||19||75||75|
|Total amortization of intangibles from business combinations||$||5,721||$||1,977||$||17,349||$||7,578|
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. 26, 2015 05:00 PM EST Reads: 9,814
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. 26, 2015 05:00 PM EST Reads: 3,860
"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. 26, 2015 02:30 PM EST Reads: 3,944
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. 26, 2015 02:15 PM EST Reads: 4,782
SYS-CON Media announced that Splunk, a provider of the leading software platform for real-time Operational Intelligence, has launched an ad campaign on Big Data Journal. Splunk software and cloud services enable organizations to search, monitor, analyze and visualize machine-generated big data coming from websites, applications, servers, networks, sensors and mobile devices. The ads focus on delivering ROI - how improved uptime delivered $6M in annual ROI, improving customer operations by mining large volumes of unstructured data, and how data tracking delivers uptime when it matters most.
Jan. 26, 2015 02:00 PM EST Reads: 5,334
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. 26, 2015 01:45 PM EST Reads: 3,368
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. 26, 2015 01:15 PM EST Reads: 3,776
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. 26, 2015 01:00 PM EST Reads: 5,633
SYS-CON Media announced that Cisco, a worldwide leader in IT that helps companies seize the opportunities of tomorrow, has launched a new ad campaign in Cloud Computing Journal. The ad campaign, a webcast titled 'Is Your Data Center Ready for the Application Economy?', focuses on the latest data center networking technologies, including SDN or ACI, and how customers are using SDN and ACI in their organizations to achieve business agility. The Cisco webcast is available on-demand.
Jan. 26, 2015 12:00 PM EST Reads: 2,110
"BSQUARE is in the business of selling software solutions for smart connected devices. It's obvious that IoT has moved from being a technology to being a fundamental part of business, and in the last 18 months people have said let's figure out how to do it and let's put some focus on it, " explained Dave Wagstaff, VP & Chief Architect, at BSQUARE Corporation, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 26, 2015 11:30 AM EST Reads: 3,411
Advanced Persistent Threats (APTs) are increasing at an unprecedented rate. The threat landscape of today is drastically different than just a few years ago. Attacks are much more organized and sophisticated. They are harder to detect and even harder to anticipate. In the foreseeable future it's going to get a whole lot harder. Everything you know today will change. Keeping up with this changing landscape is already a daunting task. Your organization needs to use the latest tools, methods and expertise to guard against those threats. But will that be enough? In the foreseeable future attacks w...
Jan. 26, 2015 11:00 AM EST Reads: 4,501
As enterprises move to all-IP networks and cloud-based applications, communications service providers (CSPs) – facing increased competition from over-the-top providers delivering content via the Internet and independently of CSPs – must be able to offer seamless cloud-based communication and collaboration solutions that can scale for small, midsize, and large enterprises, as well as public sector organizations, in order to keep and grow market share. The latest version of Oracle Communications Unified Communications Suite gives CSPs the capability to do just that. In addition, its integration ...
Jan. 26, 2015 11:00 AM EST Reads: 4,355
Building low-cost wearable devices can enhance the quality of our lives. In his session at Internet of @ThingsExpo, Sai Yamanoor, Embedded Software Engineer at Altschool, provided an example of putting together a small keychain within a $50 budget that educates the user about the air quality in their surroundings. He also provided examples such as building a wearable device that provides transit or recreational information. He then reviewed the resources available to build wearable devices at home including open source hardware, the raw materials required and the options available to power s...
Jan. 26, 2015 11:00 AM EST Reads: 3,280
“The age of the Internet of Things is upon us,” stated Thomas Svensson, senior vice-president and general manager EMEA, ThingWorx, “and working with forward-thinking companies, such as Elisa, enables us to deploy our leading technology so that customers can profit from complete, end-to-end solutions.” ThingWorx, a PTC® (Nasdaq: PTC) business and Internet of Things (IoT) platform provider, announced on Monday that Elisa, Finnish provider of mobile and fixed broadband subscriptions, will deploy ThingWorx® platform technology to enable a new Elisa IoT service in Finland and Estonia.
Jan. 26, 2015 11:00 AM EST Reads: 2,298
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. 26, 2015 10:45 AM EST Reads: 3,920
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 @ThingsExpo, Ivelin Ivanov, CEO and Co-Founder of Telestax, shared 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, a...
Jan. 26, 2015 10:45 AM EST Reads: 4,779
ARMONK, N.Y., Nov. 20, 2014 /PRNewswire/ -- IBM (NYSE: IBM) today announced that it is bringing a greater level of control, security and flexibility to cloud-based application development and delivery with a single-tenant version of Bluemix, IBM's platform-as-a-service. The new platform enables developers to build ap...
Jan. 26, 2015 10:30 AM EST Reads: 4,340
We certainly live in interesting technological times. And no more interesting than the current competing IoT standards for connectivity. Various standards bodies, approaches, and ecosystems are vying for mindshare and positioning for a competitive edge. It is clear that when the dust settles, we will have new protocols, evolved protocols, that will change the way we interact with devices and infrastructure. We will also have evolved web protocols, like HTTP/2, that will be changing the very core of our infrastructures. At the same time, we have old approaches made new again like micro-services...
Jan. 26, 2015 10:30 AM EST Reads: 3,724
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
Jan. 26, 2015 10:00 AM EST Reads: 3,552
Disruptive macro trends in technology are impacting and dramatically changing the "art of the possible" relative to supply chain management practices through the innovative use of IoT, cloud, machine learning and Big Data to enable connected ecosystems of engagement. Enterprise informatics can now move beyond point solutions that merely monitor the past and implement integrated enterprise fabrics that enable end-to-end supply chain visibility to improve customer service delivery and optimize supplier management. Learn about enterprise architecture strategies for designing connected systems tha...
Jan. 26, 2015 10:00 AM EST Reads: 4,626