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Fidelity National Financial, Inc. Reports Fourth Quarter 2012 EPS of $0.66, Pre-Tax Title Margin of 16.0% and Record Commercial Title Revenue of $143 Million

JACKSONVILLE, Fla., Feb. 19, 2013 /PRNewswire/ -- Fidelity National Financial, Inc. (NYSE: FNF), a leading provider of title insurance, mortgage services and diversified services, today reported operating results for the three-month and twelve-month periods ended December 31, 2012.

  • Pre-tax title margin of 16.0% for the fourth quarter versus 11.7% in the fourth quarter of 2011, a 430 basis point, or 37%, increase over the prior year 
  • Open title orders of 677,400 for the fourth quarter, an increase of 135,400, or 25%, over the fourth quarter of 2011; open orders per day of 10,750 for the fourth quarter versus 8,740 open orders per day for the fourth quarter of 2011; 68% of fourth quarter open title orders were refinance related
  • Fourth quarter commercial title revenue of $142.6 million, a 37% increase over the fourth quarter of 2011, driven by a 28% improvement in the commercial fee per file and an 8% increase in closed orders
  • Overall fourth quarter average fee per file of $1,565, a 6% increase over the fourth quarter of 2011, despite a larger percentage of refinance orders
  • Restaurant group revenue of $357 million, adjusted EBITDA of $18.2 million, adjusted EBITDA margin of 5.1% and a pre-tax loss of $4.7 million
  • Remy total revenue of $275 million, adjusted EBITDA of $40.1 million, adjusted EBITDA margin of 14.6% and pre-tax earnings of $9 million

Consolidated ($ in millions except per share amounts)


 

Three Months Ended
December 31, 2012

 

Three Months Ended

December 31, 2011

Total revenue

$2,235.0

$1,272.9

Net earnings attributable to common shareholders

$151.8

$172.7*

Net earnings per diluted share attributable to common shareholders

$0.66

$0.78*

Cash flow from operations

$243.0

$55.0

* Includes $83.3 million, or $0.38 per diluted share, in earnings from discontinued operations, primarily due to the sale of the flood insurance business in the fourth quarter of 2011


 

Twelve Months Ended
  December 31, 2012

 

Twelve Months Ended

December 31, 2011

Total revenue

$7,201.7

$4,839.6

Net earnings attributable to common shareholders

$606.5

$369.5

Net earnings per diluted share attributable to common shareholders

$2.68

$1.66

Cash flow from operations

$620.0

$110.3

The following are summary financial and operational results for the operating segments of FNF for the three-month and twelve-month periods ended December 31, 2012 and 2011:

Fidelity National Title Group ("FNT") ($ in millions)


Three Months Ended
December 31, 2012

Three Months Ended
December 31, 2011

Total revenue

$1,589.5

$1,262.0

Pre-tax earnings

$250.8

$142.2

Realized losses

$3.7

$6.5

Adjusted pre-tax earnings

$254.5

$148.7

Adjusted pre-tax margin

16.0%

11.7%


 

Twelve Months Ended
  December 31, 2012

 

Twelve Months Ended
December 31, 2011

Total revenue

$5,625.8

$4,792.9

Pre-tax earnings

$783.1

$530.3

Realized gains

($0.9)

($7.0)

Claims recoupment impairment

$10.8

--

Adjusted pre-tax earnings

$793.0

$523.3

Adjusted pre-tax margin

14.1%

10.9%




 

Month

Direct Orders Opened

Direct Orders Closed

October 2012

268,200

178,600

November 2012

215,000

164,400

December 2012

194,200

174,700

Fourth Quarter 2012

677,400

517,700




October 2011

190,700

136,300

November 2011

178,500

136,700

December 2011

172,800

138,400

Fourth Quarter 2011

542,000

411,400





Open
Commercial
Orders

Closed
Commercial
Orders

Commercial
Revenue

(millions)

 

Commercial
Fee Per File

4th Quarter 2012

18,300

13,500

$142.6

$10,600

4th Quarter 2011

17,400

12,500

$103.8

$8,300

- The preceding table only includes commercial activity from FNF's commercial offices in the national commercial division and does not attempt to capture potential commercial activity in our local offices.

Restaurant Group ($ in millions)


 

Three Months Ended
December 31, 2012

Twelve Months
(Partial)* Ended
December 31, 2012

Operating revenue

$358.5

$909.3

Realized gains (losses)

($1.9)

$118.7

Total revenue

$356.6

$1,028.0

Pre-tax earnings (loss)

($4.7)

$101.0

Depreciation & amortization

$15.2

$35.2

Interest expense

$1.4

$3.4

EBITDA

$11.9

$139.6

Realized (gains) losses

$1.9

($118.7)

Transaction and integration costs

$4.4

$18.8

Adjusted EBITDA

$18.2

$39.7

Adjusted EBITDA margin

5.1%

4.4%

            * Covers period from May 11, 2012December 31, 2012

Remy ($ in millions)

 

 

 

 

Three Months Ended

December 31, 2012

 

 

Twelve Months
(Partial)** Ended
December 31, 2012

Operating revenue

$274.5

$417.5

Interest and investment income

$0.5

$0.7

Realized gains (losses)

($0.1)

$78.8

Total revenue

$274.9

$497.0

Pre-tax earnings

$9.0

$88.5

Depreciation & amortization

$21.3

$28.1

Interest expense

$6.6

$10.2

EBITDA

$36.9

$126.8

Realized (gains) losses

$0.1

($78.8)

Stock compensation and restructuring charge

$3.1

$4.7

Inventory step-up adjustment

--

$8.5

Adjusted EBITDA

$40.1

$61.2

Adjusted EBITDA margin

14.6%

14.7%

          ** Covers period from August 15, 2012December 31, 2012

"The fourth quarter was a great finish to a very strong year for our company," said Chief Executive Officer George P. Scanlon.  "While refinance transactions remained strong, we also saw improvement in the level of purchase transactions, as we experienced an 11% increase in open resale orders during the fourth quarter versus the prior year quarter.  We are encouraged as we look to 2013.  We are proud of the 16% pre-tax margin our title business generated this quarter.  That margin is nearly equal to the peak title margin we earned in 2003, a year that saw total mortgage originations of $3.8 trillion, more than double the projection of total mortgage originations for 2012.  In what remains a sluggish residential real estate market, this is an accomplishment that all of our employees can truly be proud to have achieved.  For full-year 2012, our pre-tax title margin was an impressive 14.1%.  Our commercial title business had a tremendous quarter, generating nearly $143 million in revenue, by far the strongest commercial quarter in the history of our company.  For the full year 2012, commercial title revenue was nearly $412 million, an increase of 13% versus 2011.  Overall, open title order counts remained robust during the quarter, despite the normal seasonal slowdown in the second half of December and we enter 2013 confident that we can continue to generate strong, industry-leading profitability in our title insurance business."

"2012 was a year of milestones for our two major non-title businesses," said Chairman William P. Foley, II.  "Our restaurant group expanded significantly with the acquisitions of O'Charley's and J. Alexander's, growing from a revenue base of approximately $400 million entering 2012 to more than $1.4 billion entering 2013.  We began consolidating the restaurant group's results in May 2012 and as we enter 2013, we remain focused on integrating the headquarters in Nashville, improving the financial performance of the O'Charley's concept and building our restaurant group into an asset that can provide significant value for FNF shareholders.  Remy also had several significant events occur in 2012.  In August, FNF acquired 1.5 million additional shares of Remy common stock and became the majority owner of the company, causing the consolidation of Remy's financials into FNF.  Additionally, Remy successfully became listed on the NASDAQ Stock Market, under the trading symbol "REMY", creating additional liquidity for its common stock.  We are excited about the new leadership and future for Remy and look forward to continued future operational and financial success that will benefit all Remy shareholders."

Conference Call
FNF will host a call with investors and analysts to discuss fourth quarter 2012 results on Wednesday, February 20, 2013, beginning at 11:00 a.m. Eastern Time.  A live webcast of the conference call will be available on the Events and Multimedia page of the FNF Investor Relations website at www.fnf.com.  The conference call replay will be available via webcast through the FNF Investor Relations website at www.fnf.com.  The telephone replay will be available from 1:00 p.m. Eastern time on February 20, 2013, through February 27, 2013, by dialing 800-475-6701 (USA) or 320-365-3844 (International).  The access code will be 278625.

About FNF
Fidelity National Financial, Inc. (NYSE:FNF), is a leading provider of title insurance, mortgage services and other diversified services.  FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States.  FNF owns a 55% stake in American Blue Ribbon Holdings, LLC, a restaurant owner and operator of the O'Charley's, Ninety Nine Restaurant, Max & Erma's, Village Inn, Bakers Square and Stoney River Legendary Steaks concepts and FNF also owns 100% of J. Alexander's, an upscale dining concept.  In addition, FNF also owns a 51% stake in Remy International, Inc., a leading worldwide manufacturer, remanufacturer, and distributor of starters and alternators for light vehicle and commercial vehicle applications, locomotive products and hybrid electric motors.  FNF owns Digital Insurance, Inc., the nation's leading employee benefits platform specializing in health insurance distribution and benefits management for small and mid-sized businesses.  FNF also owns a minority interest in Ceridian Corporation, a leading provider of global human capital management and payment solutions.  More information about FNF can be found at www.fnf.com.

Use of Non-GAAP Financial Information
Generally Accepted Accounting Principles (GAAP) is the term used to refer to the standard framework of guidelines for financial accounting. GAAP includes the standards, conventions, and rules accountants follow in recording and summarizing transactions and in the preparation of financial statements. In addition to reporting financial results in accordance with GAAP, the Company has provided non-GAAP financial measures, which it believes are useful to help investors better understand its financial performance, competitive position and prospects for the future. These non-GAAP measures include earnings before interest, taxes and depreciation and amortization (EBITDA) and adjusted earnings before interest, taxes and depreciation and amortization (Adjusted EBITDA).

Any non-GAAP measures should be considered in context with the GAAP financial presentation and should not be considered in isolation or as a substitute for GAAP net earnings. Further, FNF's non-GAAP measures may be calculated differently from similarly titled measures of other companies. Reconciliations of these non-GAAP measures to related GAAP measures are provided above.

Forward Looking Statements
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements regarding our expectations, hopes, intentions or strategies regarding the future are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.  The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; weakness or adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on distributions from our title insurance underwriters as a main source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.

 

FIDELITY NATIONAL FINANCIAL, INC.
SUMMARY OF EARNINGS
(In millions, except order information in 000's)
(Unaudited)


      Three Months Ended


              Twelve Months Ended


       December 31,


              December 31,


2012

2011


2012

2011

Direct title premiums

$517.9


$377.4


$1,736.0


$1,431.5

Agency title premiums

599.1


495.6


2,100.5


1,829.6

  Total title premiums

1,117.0


873.0


3,836.5


3,261.1

Escrow, title-related and other fees

455.6


370.9


1,707.6


1,429.1

  Total title and escrow

1,572.6


1,243.9


5,544.1


4,690.2

Restaurant revenue

358.5


--


909.3


--

Remy revenue

274.5


--


417.5


--

Interest and investment income

35.1


35.7


143.9


142.7

Realized gains and losses

(5.7)


(6.7)


186.9


6.7

  Total revenue

2,235.0


1,272.9


7,201.7


4,839.6









Personnel costs

542.5


408.2


1,872.9


1,578.0

Other operating expenses

361.2


277.4


1,303.6


1,083.0

Cost of restaurant revenue

300.9


--


774.2


--

Cost of Remy revenue (includes $20.4 million and
$26.7 million of D&A, respectively)

224.9


--


349.5


--

Agent commissions

455.3


377.7


1,599.4


1,410.8

Depreciation and amortization

33.7


17.9


105.0


73.5

Title claim loss expense

78.2


59.7


279.3


222.3

Interest expense

24.2


15.1


74.4


57.2

  Total expenses

2,020.9


1,156.0


6,358.3


4,424.8









Earnings from continuing operations before taxes

214.1


116.9


843.4


414.8

Income tax expense

57.9


27.1


246.7


134.4

Earnings from continuing operations before equity
investments

156.2


89.8


596.7


280.4

Earnings from equity investments

(2.9)


2.0


9.9


9.7

Net earnings from continuing operations

153.3


91.8


606.6


290.1

Income from discontinued operations, net of tax

--


83.3


5.1


89.0

 Net earnings

153.3


175.1


611.7


379.1

Non-controlling interests

1.5


2.4


5.2


9.6

Net earnings attributable to common shareholders

$151.8


$172.7


$606.5


$369.5

Earnings per share:








      Net earnings attributable to common shareholders - basic

$0.68


$0.80


$2.74


$1.69

      Net earnings attributable to common shareholders -diluted

$0.66


$0.78


$2.68


$1.66

   

Weighted average shares – basic

224.2


217.1


221.2


219.0

Weighted average shares – diluted

229.2


220.9


226.0


222.7









Direct operations orders opened (000's)

677.4


542.0


2,702.0


2,140.1

Direct operations orders closed (000's)

517.7


411.4


1,866.5


1,514.2

Fee per file

$1,565


$1,477


$1,487


$1,489

Actual title claims paid

$131.1


$153.0


$433.3


$520.4












 


FIDELITY NATIONAL FINANCIAL, INC.
FOURTH QUARTER SEGMENT INFORMATION
(In millions, except order information in 000's)
(Unaudited)








Three Months Ended  

December 31, 2012

   Consolidated

FNT

Restaurant Group

Remy

 

   Corporate

   and Other


Gross operating revenue

$2,205.6

$1,559.0

$358.5

$274.5

$13.6









Interest and investment income

35.1

34.2

--

0.5

0.4


Realized gains and losses

(5.7)

(3.7)

(1.9)

(0.1)

--


  Total revenue

2,235.0

1,589.5

356.6

274.9

14.0









Personnel costs

542.5

480.6

18.7

21.5

21.7


Other operating expenses

361.2

307.1

25.1

12.0

17.0


Cost of revenue

525.8

--

300.9

224.9

--


Agent commissions

455.3

455.3

--

--

--


Depreciation and amortization

33.7

16.7

15.2

0.9

0.9


Title claim loss expense

78.2

78.2

--

--

--


Interest expense

24.2

0.8

1.4

6.6

15.4


  Total expenses

2,020.9

1,338.7

361.3

265.9

55.0


Pre-tax earnings from continuing operations

214.1

250.8

(4.7)

9.0

(41.0)









Pre-tax margin

9.6%

15.8%

--

3.3%

--


Pre-tax margin , excluding realized gains and losses

9.8%

16.0%

--

3.3%

 

--









Open orders

677.4

677.4

--

--

--


Closed orders

517.7

517.7

--

--

--









Three Months Ended  

December 31, 2011

   Consolidated

FNT

Restaurant Group

Remy

 

   Corporate

   and Other


Gross operating revenue

$1,243.9

$1,233.9

--

--

$10.0


Interest and investment income

35.7

34.6

--

--

1.1


Realized gains and losses

(6.7)

(6.5)

--

--

(0.2)


  Total revenue

1,272.9

1,262.0

--

--

10.9









Personnel costs

408.2

400.0

--

--

8.2


Other operating expenses

277.4

264.7

--

--

12.7


Agent commissions

377.7

377.7

--

--

--


Depreciation and amortization

17.9

17.1

--

--

0.8


Title claim loss expense

59.7

59.7

--

--

--


Interest expense

15.1

0.6

--

--

14.5


  Total expenses

1,156.0

1,119.8

--

--

36.2


Pre-tax earnings from continuing operations

116.9

142.2

--

--

(25.3)









Pre-tax margin

9.2%

11.3%

--

--

--


Pre-tax margin, excluding realized gains and losses

9.7%

11.7%

--

--

 

--









Open orders

542.0

542.0

--

--

--


Closed orders

411.4

411.4

--

--

--


 


FIDELITY NATIONAL FINANCIAL, INC.
YTD SEGMENT INFORMATION
(In millions, except order information in 000's)
(Unaudited)










Twelve Months Ended  

December 31, 2012

   Consolidated

FNT

Restaurant Group

Remy

 

   Corporate

   and Other


Gross operating revenue

$6,870.9

$5,486.8

$909.3

$417.5

$57.3









Interest and investment income

143.9

138.1

--

0.7

5.1


Realized gains and losses

186.9

0.9

118.7

78.8

(11.5)


  Total revenue

7,201.7

5,625.8

1,028.0

497.0

50.9









Personnel costs

1,872.9

1,752.0

43.4

29.4

48.1


Other operating expenses

1,303.6

1,145.5

70.8

18.0

69.3


Cost of revenue

1,123.7

--

774.2

349.5

--


Agent commissions

1,599.4

1,599.4

--

--

--


Depreciation and amortization

105.0

65.3

35.2

1.4

3.1


Title claim loss expense

279.3

279.3

--

--

--


Interest expense

74.4

1.2

3.4

10.2

59.6


  Total expenses

6,358.3

4,842.7

927.0

408.5

180.1


Pre-tax earnings from continuing operations

843.4

783.1

101.0

88.5

(129.2)









Pre-tax margin

11.7%

13.9%

9.8%

17.8%

--


Pre-tax margin, excluding
realized gains and losses and
claims recoupment impairment

9.5%

14.1%

--

2.3%

 

 

--









Open orders

2,702.0

2,702.0

--

--

--


Closed orders

1,866.5

1,866.5

--

--

--









Twelve Months Ended  

December 31, 2011

   Consolidated

FNT

Restaurant Group

Remy

 

   Corporate

   and Other


Gross operating revenue

$4,690.2

$4,644.6

--

--

$45.6


Interest and investment income

142.7

141.3

--

--

1.4


Realized gains and losses

6.7

7.0

--

--

(0.3)


  Total revenue

4,839.6

4,792.9

--

--

46.7









Personnel costs

1,578.0

1,529.9

--

--

48.1


Other operating expenses

1,083.0

1,027.6

--

--

55.4


Agent commissions

1,410.8

1,410.8

--

--

--


Depreciation and amortization

73.5

70.6

--

--

2.9


Title claim loss expense

222.3

222.3

--

--

--


Interest expense

57.2

1.4

--

--

55.8


  Total expenses

4,424.8

4,262.6

--

--

162.2


Pre-tax earnings from continuing operations

414.8

530.3

--

--

(115.5)









Pre-tax margin

8.6%

11.1%

--

--

--


Pre-tax margin, excluding realized gains and losses

8.4%

10.9%

--

--

 

--









Open orders

2,140.1

2,140.1

--

--

--


Closed orders

1,514.2

1,514.2

--

--

--


 



FIDELITY NATIONAL FINANCIAL, INC
SUMMARY BALANCE SHEET INFORMATION
(In millions, except per share amounts)



December 31,


December 31,



2012


2011



 (Unaudited)



Cash and investment portfolio


$5,184.9


$4,717.4

Goodwill


1,908.5


1,452.2

Title plant


374.2


386.7

Total assets


9,902.6


7,862.1

Notes payable


1,343.9


915.8

Reserve for title claim losses


1,748.0


1,912.8

Secured trust deposits


528.3


419.9

Total equity


4,749.1


3,655.9

Book value per share


$20.78


$16.57

SOURCE Fidelity National Financial, Inc.

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Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, d...
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.
SYS-CON Events announced today that Dyn, the worldwide leader in Internet Performance, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Dyn is a cloud-based Internet Performance company. Dyn helps companies monitor, control, and optimize online infrastructure for an exceptional end-user experience. Through a world-class network and unrivaled, objective intelligence into Internet conditions, Dyn ensures traffic gets delivered faster, safer, and more reliably than ever.