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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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17th Cloud Expo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Meanwhile, 94% of enterprises are using some form of XaaS – software, platform, and infrastructure as a service.
The Workspace-as-a-Service (WaaS) market will grow to $6.4B by 2018. In his session at 16th Cloud Expo, Seth Bostock, CEO of IndependenceIT, will begin by walking the audience through the evolution of Workspace as-a-Service, where it is now vs. where it going. To look beyond the desktop we must understand exactly what WaaS is, who the users are, and where it is going in the future. IT departments, ISVs and service providers must look to workflow and automation capabilities to adapt to growing demand and the rapidly changing workspace model.
Since 2008 and for the first time in history, more than half of humans live in urban areas, urging cities to become “smart.” Today, cities can leverage the wide availability of smartphones combined with new technologies such as Beacons or NFC to connect their urban furniture and environment to create citizen-first services that improve transportation, way-finding and information delivery. In her session at @ThingsExpo, Laetitia Gazel-Anthoine, CEO of Connecthings, will focus on successful use cases.
One of the biggest impacts of the Internet of Things is and will continue to be on data; specifically data volume, management and usage. Companies are scrambling to adapt to this new and unpredictable data reality with legacy infrastructure that cannot handle the speed and volume of data. In his session at @ThingsExpo, Don DeLoach, CEO and president of Infobright, will discuss how companies need to rethink their data infrastructure to participate in the IoT, including: Data storage: Understanding the kinds of data: structured, unstructured, big/small? Analytics: What kinds and how responsiv...
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...
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 ...
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! Internet of @ThingsExpo, taking place Nov 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 17th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal an...
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
The 3rd International @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 – is now accepting Hackathon proposals. Hackathon sponsorship benefits include general brand exposure and increasing engagement with the developer ecosystem. At Cloud Expo 2014 Silicon Valley, IBM held the Bluemix Developer Playground on November 5 and ElasticBox held the DevOps Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of...
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...
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
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...
SYS-CON Events announced today that Gridstore™, the leader in hyper-converged infrastructure purpose-built to optimize Microsoft workloads, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Gridstore™ is the leader in hyper-converged infrastructure purpose-built for Microsoft workloads and designed to accelerate applications in virtualized environments. Gridstore’s hyper-converged infrastructure is the industry’s first all flash version of HyperConverged Appliances that include both compute and storag...
For years, we’ve relied too heavily on individual network functions or simplistic cloud controllers. However, they are no longer enough for today’s modern cloud data center. Businesses need a comprehensive platform architecture in order to deliver a complete networking suite for IoT environment based on OpenStack. In his session at @ThingsExpo, Dhiraj Sehgal from PLUMgrid will discuss what a holistic networking solution should really entail, and how to build a complete platform that is scalable, secure, agile and automated.