Welcome!

.NET Authors: Yeshim Deniz, Carmen Gonzalez, Greg O'Connor, Pat Romanski, Elizabeth White

News Feed Item

PLX Technology, Inc. Reports Fourth Quarter, Fiscal Year 2013 Financial Results

Record Annual GAAP Net Income, PCI Express Revenues, Design Wins

SUNNYVALE, CA -- (Marketwired) -- 01/27/14 -- PLX Technology, Inc. (NASDAQ: PLXT), the global leader in PCI Express® (PCIe®) silicon and software connectivity solutions enabling emerging data center architectures, today announced fourth quarter revenues of $25.7 million and GAAP income of $1.0 million, or $0.03 per share (diluted). For 2013, PLX® reported revenue of $104.5 million and GAAP income of $7.3 million, or $0.15 per share (diluted).

"Our ongoing commitment to controlling costs and focusing on our market-leading PCI Express products resulted in our most profitable year in company history," said David Raun, PLX president and CEO. "PCI Express revenues were up 2 percent over Q3 and 13 percent annually. We are pleased to see a number of Gen3 designs ramping to volume production and expect many more of our customers to launch their Gen3-enabled products in 2014. Design activity remains strong for both our Gen2 and Gen3 products, underscoring our market leadership and ongoing growth opportunity."


Non-GAAP Financial Comparison
(in millions, except per share amounts)
                                       Quarterly Results       Year to Date
                                   Q4 2013  Q3 2013  Q4 2012   2013    2012
                                  -------- -------- -------- ------- -------
Net revenues                      $   25.7 $   25.7 $   23.4 $ 104.5 $ 100.2
Gross Margin                      $   14.3 $   14.7 $   13.7 $  59.6 $  58.9
Operating expense                 $   12.4 $   11.8 $   11.5 $  47.6 $  53.7
Operating income from continuing
 operations                       $    1.9 $    2.9 $    2.2 $  12.0 $   5.2
Income from continuing operations $    1.9 $    2.8 $    2.4 $  11.6 $   4.8
Income per share (diluted) from
 continuing operations            $   0.04 $   0.06 $   0.06 $  0.25 $  0.10

The above non-GAAP financial information (other than net revenues, which are presented on a GAAP basis) excludes share-based compensation, royalty accruals associated with the Internet Machines litigation, acquisition, restructuring and impairment charges, amortization of acquired intangibles and discontinued operations. See "Use of Non-GAAP Financial Information" below.


GAAP Financial Comparison
(in millions, except per share amounts)
                                     Quarterly Results        Year to Date
                                 Q4 2013  Q3 2013  Q4 2012    2013    2012
                                -------- -------- --------  ------- -------
Net revenues                    $   25.7 $   25.7 $   23.4  $ 104.5 $ 100.2
Gross Margin                    $   14.1 $   14.5 $   13.7  $  59.1 $  58.8
Operating expense               $   13.2 $   12.4 $   14.1  $  51.6 $  63.6
Operating income (loss) from
 continuing operations          $    0.8 $    2.0 $   (0.4) $   7.5 $  (4.8)
Income (loss) from continuing
 operations                     $    0.8 $    2.0 $   (0.2) $   7.1 $  (5.2)
Income (loss) per share
 (diluted) from continuing
 operations                     $   0.02 $   0.04 $      -  $  0.15 $ (0.12)

"Our balance sheet in the quarter continued to improve as we paid down our bank debt and increased our cash and investments to $20.4 million, while increasing shareholder equity 24 percent over the course of the year," said Raun. "As we look to 2014, we anticipate growth in revenues and profits, driven by a robust design win pipeline and a strong focus on improving gross margins and controlling costs."

Product Update:
PLX today offers an industry-leading 18 PCI Express (PCIe) Gen3 switches now in production and expects to release next generation PCIe Gen3 feature-rich technology in the coming quarters to enable its ExpressFabric® initiative. ExpressFabric was demonstrated live at the Intel Developers Forum (IDF) and SuperComputing (SC13) conferences in 2013. PLX is working closely with market leaders who are planning to deploy ExpressFabric technology in data centers to replace box-to-box connectivity currently using Ethernet and InfiniBand within individual racks. ExpressFabric eliminates power hungry and costly protocol translation adapter cards and retains native PCIe within the rack while seamlessly connecting to Ethernet for rack-to-rack connectivity.

Business Outlook:
The following statements are based on current expectations. The company does not intend to update, confirm or change this guidance until its first quarter 2014 earnings release, although it may provide additional details regarding its guidance during today's scheduled conference call.

  • Net revenues for the first quarter ending March 31, 2014, are expected to be between $24 million and $27 million
  • Non-GAAP gross margins are expected to be approximately 56 percent with GAAP margins at approximately 55 percent. The GAAP number includes an accrual for royalties associated with the Internet Machines litigation and share-based compensation.
  • Operating expenses are expected to be approximately $14.0 million. Included in operating expenses are share-based compensation charges of approximately $0.6 million. The first quarter also includes a 40nm tape-out and beginning of the year higher payroll taxes. For the year, operating expenses net of share-based compensation are expected to be about $52 million.

Conference Call:
PLX management plans to conduct a conference call and webcast today at 2:00 p.m. (PT) to discuss its fourth quarter and fiscal year 2013 financial results, as well as its first quarter 2014 outlook. A live webcast of the conference call will be available through the Investor Relations section of the PLX website at www.plxtech.com/investors, which also can be heard live via telephone at (877) 474-9506, using access code 18615127. International callers may dial +1 (857) 244-7559. A recorded replay of this webcast will be available on the PLX website beginning 6:00 p.m. (PT) on January 27, 2014, through 11:59 p.m. (PT) on February 3, 2014. To listen to the replay via telephone, call (888) 286-8010 and use access code 98425423. International callers may dial +1 (617) 801-6888.

About PLX:
PLX Technology, Inc. (NASDAQ: PLXT), based in Sunnyvale, Calif., USA, is the industry-leading global provider of semiconductor-based PCI Express connectivity solutions primarily targeting enterprise data center markets. The company develops innovative software-enriched silicon that enables product differentiation, reliable interoperability and superior performance. Visit PLX on plxtech.com, LinkedIn, Facebook, Twitter and YouTube.

Use of Non-GAAP Financial Information:
To supplement PLX's financial statements presented on a GAAP basis, PLX has provided non-GAAP financial information, including non-GAAP income (loss), non-GAAP earnings (loss) per share (diluted), non-GAAP operating income (loss) and non-GAAP operating expenses. These non-GAAP results exclude share-based compensation, including ESOP expenses, royalty accruals associated with the Internet Machines litigation, acquisition, restructuring and impairment related charges, amortization of acquired intangibles and discontinued operations. A reconciliation of the adjustments to GAAP results is included in the tables below. Non-GAAP financial information is not meant as a substitute for GAAP results, but is included because management believes such information is useful to PLX investors for informational and comparative purposes. In addition, certain non-GAAP financial information is used internally by management to evaluate and manage the company. The non-GAAP financial information used by PLX may differ from that used by other companies. These non-GAAP measures should be considered in addition to, and not a substitute for, the results prepared in accordance with GAAP.

Safe Harbor Statement:
This press release includes statements that qualify as forward-looking statements under the Private Securities Litigation Reform Act of 1995. These include statements about the company's estimated net revenues, estimated operating expenses and estimated gross margins, which are set forth under the caption "Business Outlook," and statements regarding PLX's growth potential and GAAP profitability this year, our expectations for the release of feature-rich technology and expectations for Gen 3-enabled product customer launches. Such statements involve risks and uncertainties, which may cause actual results to differ materially from those set forth in the statements. Factors that could cause actual results to differ materially include risks and uncertainties, such as reduced demand for products of electronic equipment manufacturers that use the company's products, adverse economic conditions in general or those specifically affecting the company's markets, technical difficulties and delays in the development process, errors in the products, reduced backlog for the company's customers and unexpected expenses. Please refer to the documents filed by the company with the SEC from time to time, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2012, and PLX's quarterly reports on Forms 10-Q for the quarters ended March 31, 2013, June 30, 2013, and September 30, 2013, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. All forward-looking statements are made as of today, and the company assumes no obligation to update such statements.

PLX, the PLX logo, and ExpressFabric are trademarks of PLX Technology, Inc., which may be registered in some jurisdictions. All other product names that appear in this material are for identification purposes only and are acknowledged to be trademarks or registered trademarks of their respective organizations.


                            PLX TECHNOLOGY, INC.
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                                (Unaudited)
                  (in thousands, except per share amounts)






                                                            Twelve Months
                                                                Ended
                           Three Months Ended                December 31
                 December 31  September 30  December 31  ------------------
                     2013         2013          2012       2013      2012
                 -----------  ------------  -----------  --------  --------

Net revenues     $    25,697  $     25,725  $    23,413  $104,490  $100,248
Cost of revenues      11,624        11,265        9,729    45,359    41,462
                 -----------  ------------  -----------  --------  --------
Gross margin          14,073        14,460       13,684    59,131    58,786
                 -----------  ------------  -----------  --------  --------
Operating
 expenses:
  Research and
   development         6,328         6,107        6,170    24,876    27,532
  Selling,
   general and
   administrative      6,910         6,309        6,163    26,442    28,927
  Acquisition
   and
   restructuring
   related costs           -             -        1,719       291     6,898
  Amortization
   of purchased
   intangible
   assets                  -             -           22         -       245
                 -----------  ------------  -----------  --------  --------
Total operating
 expenses             13,238        12,416       14,074    51,609    63,602
                 -----------  ------------  -----------  --------  --------
Income (loss)
 from operations         835         2,044         (390)    7,522    (4,816)
Interest income
 (expense) and
 other, net              (29)           (2)         (30)     (157)     (149)
                 -----------  ------------  -----------  --------  --------
Income (loss)
 from continuing
 operations
 before
 provision for
 income taxes            806         2,042         (420)    7,365    (4,965)
Provision
 (benefit) for
 income taxes             27            57         (230)      229       236
                 -----------  ------------  -----------  --------  --------
Income (loss)
 from continuing
 operations, net
 of tax                  779         1,985         (190)    7,136    (5,201)
Gain (loss) from
 discontinued
 operations, net
 of tax (1)              258             -         (423)      201   (27,388)
                 -----------  ------------  -----------  --------  --------
Net income
 (loss)          $     1,037  $      1,985  $      (613) $  7,337  $(32,589)
                 ===========  ============  ===========  ========  ========

Basic net income
 (loss) per
 share:
  Income (loss)
   from
   continuing
   operations    $      0.02  $       0.04  $         -  $   0.16  $  (0.12)
                 ===========  ============  ===========  ========  ========
  Gain (loss)
   from
   discontinued
   operations    $      0.01  $          -  $     (0.01) $      -  $  (0.61)
                 ===========  ============  ===========  ========  ========
  Net income
   (loss)        $      0.03  $       0.04  $     (0.01) $   0.16  $  (0.73)
                 ===========  ============  ===========  ========  ========

Diluted net
 income (loss)
 per share:
  Income (loss)
   from
   continuing
   operations    $      0.02  $       0.04  $         -  $   0.15  $  (0.12)
                 ===========  ============  ===========  ========  ========
  Gain (loss)
   from
   discontinued
   operations    $      0.01  $          -  $     (0.01) $      -  $  (0.61)
                 ===========  ============  ===========  ========  ========
  Net income
   (loss)        $      0.03  $       0.04  $     (0.01) $   0.15  $  (0.73)
                 ===========  ============  ===========  ========  ========

Shares used to
 compute per
 share amounts:
  Basic               45,750        45,682       45,053    45,603    44,882
                 ===========  ============  ===========  ========  ========
  Diluted             47,082        46,692       45,053    46,523    44,882
                 ===========  ============  ===========  ========  ========


(1) Gain (Loss) from discontinued operations includes gain on disposal of
 $297 for the three and twelve months ended December 31, 2013, and $1,353
 and $3,450 for the three and twelve months ended December 31, 2012,
 respectively.


                            PLX TECHNOLOGY, INC.
                   CONDENSED CONSOLIDATED BALANCE SHEETS
                                (Unaudited)
                               (in thousands)





                                                December 31    December 31
                                                    2013           2012
                                               -------------  -------------
ASSETS

  Cash and investments                         $      20,424  $      16,711
  Accounts receivable, net                            12,835         10,635
  Inventories                                         10,289         10,560
  Property and equipment, net                         10,333         11,267
  Goodwill                                            20,461         20,461
  Other assets                                         2,818          3,345
                                               -------------  -------------
Total assets                                   $      77,160  $      72,979
                                               =============  =============

LIABILITIES

  Accounts payable                             $       6,511  $      10,738
  Accrued compensation and benefits                    4,050          4,493
  Accrued commissions                                    480            817
  Other accrued expenses                               3,213          2,259
  Short term borrowings against line of credit             -          8,000
  Long term borrowings against line of credit          5,000              -
                                               -------------  -------------
Total liabilities                                     19,254         26,307

STOCKHOLDERS' EQUITY

  Common stock, par value                                 46             45
  Additional paid-in capital                         193,391        189,444
  Accumulated other comprehensive loss                  (277)          (226)
  Accumulated deficit                               (135,254)      (142,591)
                                               -------------  -------------
Total stockholders' equity                            57,906         46,672
                                               -------------  -------------
Total liabilities and stockholders' equity     $      77,160  $      72,979
                                               =============  =============


                            PLX TECHNOLOGY, INC.
     RECONCILIATION BETWEEN GAAP AND NON-GAAP FINANCIAL INFORMATION (1)
            (unaudited, in thousands, except for per share data)
                   (not prepared in accordance with GAAP)







                                                            Twelve Months
                                                                Ended
                           Three Months Ended                December 31
                 December 31  September 30  December 31  ------------------
                     2013         2013          2012       2013      2012
                 -----------  ------------  -----------  --------  --------
Income From
 Continuing
 Operations
 Reconciliation
  GAAP Income
   (Loss)        $       779  $      1,985  $      (190) $  7,136  $ (5,201)
  Acquisition
   and
   restructuring
   related costs           -             -        1,719       291     6,898
  Share-based
   compensation          875           545          887     2,752     2,893
  Lawsuit
   verdict
   contingency
   accrual               213           293            -     1,409         -
  Amortization
   of purchased
   intangible
   assets                  -             -           22         -       245
                 -----------  ------------  -----------  --------  --------
  Non-GAAP
   Income        $     1,867  $      2,823  $     2,438  $ 11,588  $  4,835
                 ===========  ============  ===========  ========  ========

Income Per Share
 From Continuing
 Operations
 Reconciliation
  GAAP Diluted
   Income (Loss)
   Per Share     $      0.02  $       0.04  $         -  $   0.15  $  (0.12)
  Effect of
   acquisition
   and
   restructuring
   related costs           -             -         0.04      0.01      0.15
  Effect of
   share-based
   compensation         0.02          0.01         0.02      0.06      0.06
  Effect of
   lawsuit
   verdict
   contingency
   accrual                 -          0.01            -      0.03         -
  Effect of
   amortization
   of purchased
   intangible
   assets                  -             -            -         -      0.01
                 -----------  ------------  -----------  --------  --------
  Non-GAAP
   Diluted
   Income Per
   Share         $      0.04  $       0.06  $      0.06  $   0.25  $   0.10
                 ===========  ============  ===========  ========  ========

Operating Income
 From Continuing
 Operations
 Reconciliation
  GAAP Operating
   Income (Loss) $       835  $      2,044  $      (390) $  7,522  $ (4,816)
  Share-based
   compensation
   - COGS                 12             9           49        12       147
  Share-based
   compensation
   - R&D                 179           193          288       788     1,007
  Share-based
   compensation
   - SG&A                684           343          550     1,952     1,739
  Lawsuit
   verdict
   contingency
   accrual               213           293            -     1,409         -
  Acquisition
   and
   restructuring
   related costs           -             -        1,719       291     6,898
  Amortization
   of purchased
   intangible
   assets                  -             -           22         -       245
                 -----------  ------------  -----------  --------  --------
  Non-GAAP
   Operating
   Income        $     1,923  $      2,882  $     2,238  $ 11,974  $  5,220
                 ===========  ============  ===========  ========  ========

Gross Margin
 From Continuing
 Operations
 Reconciliation
  GAAP Gross
   Margin        $    14,073  $     14,460  $    13,684  $ 59,131  $ 58,786
  Share-based
   compensation
   - COGS                 12             9           49        12       147
  Lawsuit
   verdict
   contingency
   accrual               194           235            -       429         -
                 -----------  ------------  -----------  --------  --------
  Non-GAAP Gross
   Margin        $    14,279  $     14,704  $    13,733  $ 59,572  $ 58,933
                 ===========  ============  ===========  ========  ========

Operating
 Expense From
 Continuing
 Operations
 Reconciliation
  GAAP Operating
   Expenses      $    13,238  $     12,416  $    14,074  $ 51,609  $ 63,602
  Share-based
   compensation
   - R&D                (179)         (193)        (288)     (788)   (1,007)
  Share-based
   compensation
   - SG&A               (684)         (343)        (550)   (1,952)   (1,739)
  Lawsuit
   verdict
   contingency
   accrual               (19)          (58)           -      (980)        -
  Acquisition
   and
   restructuring
   related costs           -             -       (1,719)     (291)   (6,898)
  Amortization
   of purchased
   intangible
   assets                  -             -          (22)        -      (245)
                 -----------  ------------  -----------  --------  --------
  Non-GAAP
   Operating
   Expenses      $    12,356  $     11,822  $    11,495  $ 47,598  $ 53,713
                 ===========  ============  ===========  ========  ========


  (1) Refer to " Use of Non-GAAP Financial Information" in the press
   release for a discussion of management's use of non-GAAP financial
   measures.


                            PLX TECHNOLOGY, INC.
                       SUPPLEMENTAL DATA (Unaudited)


                                                              Twelve Months
                              Three Months Ended                  Ended
                   December 31   September 30   December 31    December 31
                                                             --------------
                      2013           2013          2012       2013    2012
                  ------------  -------------  ------------  ------  ------
Net Revenues by
 Geography
Americas                    21%            20%           15%     21%     16%
Asia Pacific                71%            71%           70%     70%     71%
Europe                       8%             9%           15%      9%     13%


                                                              Twelve Months
                              Three Months Ended                  Ended
                   December 31   September 30   December 31    December 31
                                                             --------------
                      2013           2013          2012       2013    2012
                  ------------  -------------  ------------  ------  ------
Net Revenues by
 Type
PCI Express
 Revenue                    72%            71%           69%     72%     67%
Connectivity
 Revenue                    28%            29%           31%     28%     33%

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@ThingsExpo Stories

SUNNYVALE, Calif., Oct. 20, 2014 /PRNewswire/ -- Spansion Inc. (NYSE: CODE), a global leader in embedded systems, today added 96 new products to the Spansion® FM4 Family of flexible microcontrollers (MCUs). Based on the ARM® Cortex®-M4F core, the new MCUs boast a 200 MHz operating frequency and support a diverse set of on-chip peripherals for enhanced human machine interfaces (HMIs) and machine-to-machine (M2M) communications. The rich set of periphera...

WebRTC defines no default signaling protocol, causing fragmentation between WebRTC silos. SIP and XMPP provide possibilities, but come with considerable complexity and are not designed for use in a web environment. In his session at Internet of @ThingsExpo, Matthew Hodgson, technical co-founder of the Matrix.org, will discuss how Matrix is a new non-profit Open Source Project that defines both a new HTTP-based standard for VoIP & IM signaling and provides reference implementations.
SYS-CON Events announced today that Aria Systems, the recurring revenue expert, has been named "Bronze Sponsor" of SYS-CON's 15th International Cloud Expo®, which will take place on November 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Aria Systems helps leading businesses connect their customers with the products and services they love. Industry leaders like Pitney Bowes, Experian, AAA NCNU, VMware, HootSuite and many others choose Aria to power their recurring revenue business and deliver exceptional experiences to their customers.
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
The Internet of Things (IoT) is making everything it touches smarter – smart devices, smart cars and smart cities. And lucky us, we’re just beginning to reap the benefits as we work toward a networked society. However, this technology-driven innovation is impacting more than just individuals. The IoT has an environmental impact as well, which brings us to the theme of this month’s #IoTuesday Twitter chat. The ability to remove inefficiencies through connected objects is driving change throughout every sector, including waste management. BigBelly Solar, located just outside of Boston, is trans...
SYS-CON Events announced today that Matrix.org has been named “Silver Sponsor” of Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Matrix is an ambitious new open standard for open, distributed, real-time communication over IP. It defines a new approach for interoperable Instant Messaging and VoIP based on pragmatic HTTP APIs and WebRTC, and provides open source reference implementations to showcase and bootstrap the new standard. Our focus is on simplicity, security, and supporting the fullest feature set.
Predicted by Gartner to add $1.9 trillion to the global economy by 2020, the Internet of Everything (IoE) is based on the idea that devices, systems and services will connect in simple, transparent ways, enabling seamless interactions among devices across brands and sectors. As this vision unfolds, it is clear that no single company can accomplish the level of interoperability required to support the horizontal aspects of the IoE. The AllSeen Alliance, announced in December 2013, was formed with the goal to advance IoE adoption and innovation in the connected home, healthcare, education, aut...
SYS-CON Events announced today that Red Hat, the world's leading provider of open source solutions, will exhibit at Internet of @ThingsExpo, which will take place on November 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA. Red Hat is the world's leading provider of open source software solutions, using a community-powered approach to reliable and high-performing cloud, Linux, middleware, storage and virtualization technologies. Red Hat also offers award-winning support, training, and consulting services. As the connective hub in a global network of enterprises, partners, a...
The only place to be June 9-11 is Cloud Expo & @ThingsExpo 2015 East at the Javits Center in New York City. Join us there as delegates from all over the world come to listen to and engage with speakers & sponsors from the leading Cloud Computing, IoT & Big Data companies. Cloud Expo & @ThingsExpo are the leading events covering the booming market of Cloud Computing, IoT & Big Data for the enterprise. Speakers from all over the world will be hand-picked for their ability to explore the economic strategies that utility/cloud computing provides. Whether public, private, or in a hybrid form, clo...
Software AG helps organizations transform into Digital Enterprises, so they can differentiate from competitors and better engage customers, partners and employees. Using the Software AG Suite, companies can close the gap between business and IT to create digital systems of differentiation that drive front-line agility. We offer four on-ramps to the Digital Enterprise: alignment through collaborative process analysis; transformation through portfolio management; agility through process automation and integration; and visibility through intelligent business operations and big data.
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Be Among the First 100 to Attend & Receive a Smart Beacon. The Physical Web is an open web project within the Chrome team at Google. Scott Jenson leads a team that is working to leverage the scalability and openness of the web to talk to smart devices. The Physical Web uses bluetooth low energy beacons to broadcast an URL wirelessly using an open protocol. Nearby devices can find all URLs in the room, rank them and let the user pick one from a list. Each device is, in effect, a gateway to a web page. This unlocks entirely new use cases so devices can offer tiny bits of information or simple i...
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, will address the big issues involving these technologies and, more important, the results they will achieve. How important are public, private, and hybrid cloud to the enterprise? How does one define Big Data? And how is the IoT tying all this together?
The Internet of Things (IoT) is going to require a new way of thinking and of developing software for speed, security and innovation. This requires IT leaders to balance business as usual while anticipating for the next market and technology trends. Cloud provides the right IT asset portfolio to help today’s IT leaders manage the old and prepare for the new. Today the cloud conversation is evolving from private and public to hybrid. This session will provide use cases and insights to reinforce the value of the network in helping organizations to maximize their company’s cloud experience.
TechCrunch reported that "Berlin-based relayr, maker of the WunderBar, an Internet of Things (IoT) hardware dev kit which resembles a chunky chocolate bar, has closed a $2.3 million seed round, from unnamed U.S. and Switzerland-based investors. The startup had previously raised a €250,000 friend and family round, and had been on track to close a €500,000 seed earlier this year — but received a higher funding offer from a different set of investors, which is the $2.3M round it’s reporting."
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.
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. Over the summer Gartner released its much anticipated annual Hype Cycle report and the big news is that Internet of Things has now replaced Big Data as the most hyped technology. Indeed, we're hearing more and more about this fascinating new technological paradigm. Every other IT news item seems to be about IoT and its implications on the future of digital busines...
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
The Internet of Things needs an entirely new security model, or does it? Can we save some old and tested controls for the latest emerging and different technology environments? In his session at Internet of @ThingsExpo, Davi Ottenheimer, EMC Senior Director of Trust, will review hands-on lessons with IoT devices and reveal privacy options and a new risk balance you might not expect.
IoT is still a vague buzzword for many people. In his session at Internet of @ThingsExpo, Mike Kavis, Vice President & Principal Cloud Architect at Cloud Technology Partners, will discuss the business value of IoT that goes far beyond the general public's perception that IoT is all about wearables and home consumer services. The presentation will also discuss how IoT is perceived by investors and how venture capitalist access this space. Other topics to discuss are barriers to success, what is new, what is old, and what the future may hold.