Tech Mahindra Expands Relationship with Covisint to Utilize Covisint’s IoT Platform to Create Vertical Solutions

Global Partnership Drives Digital Business Transformation by Securely Connecting Complete Ecosystems of People, Systems and Things

DETROIT, April 20, 2017 (GLOBE NEWSWIRE) — Covisint Corporation (Nasdaq:COVS) and Tech Mahindra, a leader in digital transformation for the Telecommunications and Manufacturing industries, today announced that Tech Mahindra will be using the Covisint IoT Platform to enable digital transformation solutions across a variety of IoT initiatives – including smart cities, and the telecommunications and automotive markets.

Through this partnership, there will be a focused solution building and joint go-to-market efforts around:

  • Smart Cities – Diverse technologies need to be integrated to connect smart city ecosystems and realize the full potential of large-scale smart city initiatives.  Tech Mahindra is an early innovator in this evolving market.
  • Telecommunications – The vast ecosystem around telco providers brings upon many disparate technology stacks – that need to act as one to help realize the full benefits of connected initiatives.  Solutions that result from the new expansion of the Tech Mahindra and Covisint relationship will be aimed squarely at solving this problem.
  • Automotive – Both Tech Mahindra and Covisint have a long heritage in the Automotive space.  The two companies will be creating solutions that will focus on the Connected Vehicle and Supply Chain markets.

“We are excited to be a part of this initiative and we are confident that this collaboration will provide us a distinct edge with alliances and customers.  Leveraging Covisint’s cloud-based platform and Tech Mahindra’s expertise in IoT and digital transformation opens up promising vistas for us,” said Karthikeyan Natarajan, Global Head, Engineering, IoT and Enterprise Mobility at Tech Mahindra.

The Covisint IoT Platform – delivered as a platform-as-a-service (PaaS) at scale with global support – offers a complete set of capabilities required to rapidly build enterprise IoT solutions, including advanced identity, authentication, authorization, real-time messaging and orchestration, as well as digital ecosystem definition and management capabilities to facilitate secure information sharing and trusted interactions with the world around that connected asset.  Covisint’s IoT Platform brings together a set of foundational capabilities that helps businesses rapidly deliver IoT solutions supportive of digital transformation, including:

  • A unified data model that brings together the devices, the systems and the people that interact with into one coherent logical data store.
  • Dynamic security that helps businesses respond quickly and contextually to deliver better value, while minimizing security risk.
  • Unified messaging that brings together messaging and orchestration in both real-time and batch interactions to effectively digitize end-to-end business processes.
  • API-first approach for enabling agnostic and loosely coupled business service integration for complex transformations.
  • A microservices architecture to meet the scalability demands of billions of connected devices and digital businesses.

“We couldn’t be more excited about what we can achieve together with Tech Mahindra, as our partnership has already produced great benefits for both companies,” said Joel Kremke, SVP of Partnerships and Alliances, Covisint.  “We believe the expanded alliance can be one of the largest in the IoT market, and will provide both organizations a whole new path to creating value for the market and for both of our customers.  Tech Mahindra are not only market leaders but are also thought leaders in all of the verticals that we’re pursuing with them – it’s an honor to be working with them.”

About Covisint Corporation

Covisint is the connected company – we securely connect ecosystems of people, systems and things to enable new service offerings, optimize operations, develop new business models and ultimately enable the connected economy.  Today, we support more than 2,000 organizations and connect to more than 212,000 business partners and customers worldwide.  Learn more at www.covisint.com.

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About Tech Mahindra

Tech Mahindra represents the connected world, offering innovative and customer-centric information technology experiences, enabling Enterprises, Associates and the Society to Rise™. We are a USD 4.2 billion company with 117,000+ professionals across 90 countries, helping over 837 global customers including Fortune 500 companies. Our convergent, digital, design experiences, innovation platforms and reusable assets connect across a number of technologies to deliver tangible business value and experiences to our stakeholders. Tech Mahindra is amongst the Fab 50 companies in Asia (Forbes 2016 list).

We are part of the USD 17.8 billion Mahindra Group that employs more than 200,000 people in over 100 countries. The Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, after-market, information technology and vacation ownership.

Connect with us on www.techmahindra.com

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Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding Covisint’s present and future technology design, architecture, performance and operations which affects the Covisint IoT Platform’s market growth and the demand for Covisint’s solutions.  Any forward-looking statements contained in this press release are based upon Covisint’s historical performance and its current plans, estimates and expectations and are not a representation that such plans, estimates, or expectations will be achieved.  These forward-looking statements represent Covisint’s expectations as of the date of this press release.  Subsequent events may cause these expectations to change, and Covisint disclaims any obligation to update the forward-looking statements in the future except as may otherwise be required by the federal securities laws.  These forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially.  Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, our ability to work with Tech Mahindra to attract new customers; the continued growth of the market for these solutions; competition from current competitors and new market entrants; unpredictable macro-economic conditions; the loss of any of our key employees; and the length of the sales for our solutions.  Further information on potential factors that could affect actual results is included in Covisint’s reports filed with the SEC.

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248-483-2097
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Shalini Singh, Global Media Relations & PR
media.relations@techmahindra.com

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Nitrogen cylinder containing frozen human semen sent to Khon Kaen hospital for examination

The nitrogen cylinder containing six vials of frozen human semen has been sent to Khon Kaen hospital for examination to determine whether the specimens were sperms, eggs or embryos, said Dr Chatchaval Riththiti, deputy health chief of Nong Khai, on Friday.

The nitrogen cylinder which was confiscated from 25-year old Mr Nithinon Srithaniyanan at a border checkpoint on the Thai-Lao friendship bridge in Nong Khai by customs officials had been handed over to the provincial health office.

Dr Chatchaval said if it could be verified that the specimens in the six vials were sperm, eggs or embryos, the Nong Khai health office would file charge with the police against Mr Nithinon.

Health officials are suspicious that the planned delivery of the frozen specimens contained in the nitrogen cylinder could be used for surrogacy in Laos.

Mr Nimit Saeng-ampai, Nong Khai customs chief, said Nithinon asked to have the legal proceeding to be dropped and would face a fine of 200,000 baht.

Source: Thai Public Broadcasting Service (Thai PBS)

Police nab a woman alleged to have duped 90 million baht from gold investors

An alleged trickster who reportedly cheated about 90 million baht in gold trading from dozens of gullible investors has been arrested by police.

The suspect, 32-year old Ms Ratchuda Thongyam, who lives in Tambon Khu Khod in Lam Lukka district of Pathum Thani, was presented to the media at a press conference held by the Central Investigation Bureau on Friday. She is facing public fraud charge.

Pol Maj-Gen Supaseth Chokechai, commander of technology crime division, said that police had received complaints from about 60 victims who claimed that they put their investments, estimated at about 90 million baht, with Ms Ratchuda who claimed in her Facebook page that she could acquire gold from gold shops at prices far below market prices.

The complainants said they had made biddings for gold, but never received any gold from Ms Ratchuda who reportedly claimed that she could not get hold of her gold suppliers.

The suspect reportedly told the police that she started the gold bidding business since last year and had actually delivered gold to some of her investors.

Gold biddings were held 4-5 times a day on her Facebook page and her investors were supposed to receive their gold 15-20 days after the biddings.

Source: Thai Public Broadcasting Service (Thai PBS)

Crime crackdown launched on Koh Samui to clean up its image

Military and police forces launched a crackdown on dark influential figures on Koh Samui as part of the campaign to put the house in order.

Four suspects were arrested and five guns of unspecified calibres as well as ammunition were seized on the first day of the crackdown, code-named Fa Sarng (Dawn), which focused on five targets in Tambon Bor Phud on Koh Samui.

No details were available about the arrested suspects.

Lt-Gen Piyawat Narkwanich, commander of the Fourth Army Region, said Friday that the clean up operation which was the first of its kind on Koh Samui was necessary because of the widespread drug abuse problem, crimes and dark influence problem.

He said that the crackdown would continue until Koh Samui and neighbouring islands such as Koh Tao and Koh Pha-ngan are rid of dark influence, drug abuse and other crimes which have tarnished the reputation of Thai tourism.

Source: Thai Public Broadcasting Service (Thai PBS)

Ms Pat clarifies the source of her 1.9 million baht in a bank account

Actress Napapa Pat Tantrakul reported to the Office of Narcotics Control Board (ONCB) to clarify about the source of her 1.9 million baht in a bank account.

Accompanied by her lawyers who were at the ONCB, Ms Pat met with ONCB secretary-general Mr Sirinya Sitthichai and reportedly told him that the money was transferred to her bank account by her husband, Mr Akkarakit Benz Vorarotecharoenkit, who is facing charge of money laundering allegedly in connection with alleged Laotian drug lord, Xaisana Kaeopimpa.

The actress declined to talk to the media, saying that she would talk after the completion of her meeting with the ONCB chief.

Source: Thai Public Broadcasting Service (Thai PBS)

Class action lawsuit filed against tour company and a landowner

A group of residents of a housing estate in Saphan Soong district in Bangkok has filed a class action lawsuit with the Nonthaburi provincial court on Thursday against a landowner and a tour company for allegedly causing hardship to them.

Mr Kraisak Karndee, a lawyer who represents the 13 residents of Prueksachart housing community in Ramkhamhaeng Soi 118, alleged that the landowner had leased a 177 square wah empty land plot in the community to a Chinese-controlled tour company.

The empty land plot has been turned into a car park for over a dozen of buses, passenger vans and private cars used to cater to Chinese tourists visiting Thailand.

In the lawsuit, the residents claimed that the vehicles kept coming into and leaving the car park around the clock, causing disturbance to their livelihoods.

They claimed that they used to lodge a complaint with the City Hall, but no action was taken against the tour company.

They demanded 333,333 baht in compensation plus another 50,000 baht per month from the company and landowner.

Source: Thai Public Broadcasting Service (Thai PBS)

Cambodian officials allow their traders to buy goods from a Thai border market

Local Cambodian officials have eased border crossing restriction by allowing their people to cross into Thailand through Saitaku checkpoint to buy goods and other products from Thai traders at a border market in Ban Kruat district of Buri Ram province.

The temporary reopening of the border followed a meeting on Thursday between local Cambodian officials and local Thai authorities. But only a small number of Cambodian traders visited the Thai market to buy consumer products and other goods.

The closure of the border to prevent Cambodians from crossing the border through Saitaku checkpoint was believed to be a retaliation against the Thai officials' ban against people to cross into Cambodia to gamble at a newly-opened casino in Ampil since April 7.

The ban remains in force although the Cambodian officials have allowed their people to travel to the Thai border market.

Earlier last month, political activist Veera Somkwamkid tried to visit the casino which he claimed to be located on the disputed territory claimed by Cambodia and Thailand. But his attempt was thwarted by local Thai people who feared his visit would spark border tension.

Source: Thai Public Broadcasting Service (Thai PBS)

Botswana Most Attractive Investment Destination in Africa

  • Quantum Global Research Lab launches Africa Investment Index
  • Morocco, Egypt, South Africa and Zambia amongst top five investment destinations
  • Top five investment destinations attracted a combined net FDI of $13.6bn

LONDON, April 19, 2017 (GLOBE NEWSWIRE) — Botswana is the most attractive economy for investments flowing into the African continent, according to the latest Africa Investment Index 2016 (http://APO.af/sUtRNQ) by Quantum Global’s (www.QuantumGlobalGroup.com) independent research arm, Quantum Global Research Lab.

Multimedia content can be accessed here: http://APO.af/ZihCNl.

According to the Index, Botswana, scores highly based on a range of factors that include improved credit rating, current account ratio, import cover and ease of doing business.

Commenting on the Index, Prof Mthuli Ncube, Head of Quantum Global Research Lab stated: “Despite considerable external challenges and the fall in oil prices, many of the African nations are demonstrating an increased willingness to achieve sustainable growth by diversifying their economies and introducing favourable policies to attract inward investments. Botswana is a case in example – its strategic location, skilled workforce and a politically stable environment have attracted the attention of international investors leading to a significant influx of FDI.”

According to the report, the top five African investment destinations attracted an overall FDI of $13.6bn. Morocco was ranked second on the Index based on its increasing solid economic growth, strategic geographic positioning, increased foreign direct investment, import cover ratio, and an overall favourable business environment. Egypt was ranked third due to an increased foreign direct investment and real interest rates, and a growing urban population. The fourth country on the list, South Africa, scored well on the growth factor of GDP, ease of doing business in the country and significant population. Whilst Zambia, was the fifth country on the list due to its significant domestic investment and access money supply.

Table: Top 10 and Bottom 10 countries (view the multimedia content section: http://APO.af/1LpDdA).

Mthuli further commented: “With a population of over one billion people and rapidly growing middle class, Africa clearly offers significant opportunities to invest in the continent’s non-commodities sectors such as financial services, construction and manufacturing amongst others. However, structural reforms and greater private sector involvement are crucial to unlocking Africa’s true potential.”

Distributed by APO on behalf of Quantum Global Group.

To the editor:
Construction of the Index:
The AII is constructed from macroeconomic and financial indicators and the World Bank Group’s Ease of Doing Business Indicators (DBI). The DBI ranks countries in terms of a regulatory environment conducive to business operation. The AII focuses on 6 pillars or factors from a wider range of investment indicators, which include the share of domestic investment in GDP, the share of Africa’s total FDI net inflow, GDP growth rate forecast, population augmented GDP growth factor, real interest rate, the difference of broad money growth to the GDP growth rates, inflation differential, credit rating, import cover, the share of the country’s external debt in its GNI, current account ratio, ease of doing business and the country’s population size (Figure 1). The AII indicators are based on secondary data collected from World Bank Development Indicators, IMF World Economic Outlook, UNCTAD Data Centre and own estimates.

The AII is a combination of individual indicator’s rank into a single numerical ranking. It averages the country’s macroeconomic and financial indicators rankings on the six different factors. Each indicator, and hence factors, receives an equal weight.  Their rank score is then averaged to produce the total average score which is consequently ranked from 1 to 54. The lower the value of the ranking, the better the implied business investment climate.

To produce an index score that captures medium-term changing aspects, individual country’s ranking is scaled relative to a benchmark or reference value (i.e., the past 3-year rolling average ranking). See Table 1A. In addition to the intended measurement, this approach enables us to avoid periods of structural changes (which may compromise the index) that may be present in a longer time span, whether we consider a change from a reference average value or a historical reference period.

About Quantum Global:
Quantum Global (www.QuantumGlobalGroup.com) is an international group of companies active in the areas of private equity investments, investment management as well as macroeconomic research and econometric modelling. Quantum Global’s private equity arm manages a family of funds targeting direct investments in Africa in the sectors of Agriculture, Healthcare, Hotels, Infrastructure, Mining and Timber – as well as a sector agnostic Structured Equity fund. Our team combines a solid track record and proven expertise to identify and execute unique investment opportunities with focus on Africa.

Enquiries:
Linda Martin
+ 41 41 560 2900
media@QuantumGlobalGroup.com