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o9 Solutions Announces Investment from KKR – Yahoo Finance

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<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Accelerates growth of o9’s next-generation platform for integrated business planning across industry verticals and global markets ” data-reactid=”19″>Accelerates growth of o9’s next-generation platform for integrated business planning across industry verticals and global markets

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="o9 is powering the digital transformation of planning and operations for leading companies in Retail, Consumer Goods, Apparel, Consumer Electronics, Industrial Manufacturing, Oil &amp; Gas, and other industry verticals” data-reactid=”20″>o9 is powering the digital transformation of planning and operations for leading companies in Retail, Consumer Goods, Apparel, Consumer Electronics, Industrial Manufacturing, Oil & Gas, and other industry verticals

o9 Solutions, Inc. (“o9”) today announced a minority equity investment from KKR that values the company at over a billion dollars. o9’s AI-powered Integrated Business Planning platform helps leading global enterprises drive digital transformation and has grown annual recurring revenue by more than 100% in the last year. This first external capital raise in o9’s history will accelerate the go-to-market initiatives for its next-generation technology across industry verticals and global markets.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200428005582/en/” data-reactid=”22″>This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200428005582/en/

Chakri Gottemukkala, o9 CEO and Co-Founder, said: “This investment from a global firm of KKR’s caliber is a great validation of the differentiation of the o9 platform, the team we have built, and potential we have for value creation across industry verticals. With KKR’s backing we will be able to accelerate the delivery of our differentiated technology solution to clients across the globe and realize our objective of becoming a category-defining platform for digital transformation of integrated business planning and operations.”

Today the o9 platform is powering the planning and operations for large enterprise clients in many industry verticals, including retail, consumer goods, apparel, consumer electronics, industrial manufacturing, and oil & gas. These customers use o9’s cloud platform to create next generation planning capabilities that:

  • Create improved visibility into drivers of demand;
  • Improve quality of forecasts using AI models;
  • Evaluate different commercial actions to close gaps to plan;
  • Provide better real-time visibility into risks and opportunities across extended global supply chains;
  • Match demand and supply using intelligent algorithms;
  • Drive rapid what-if scenario planning to evaluate P&L impacts of different decision choices; and
  • Drive plans into execution through digital engagement with customers, suppliers and internal operations.

All these capabilities are driven off a single platform and code base thus enabling efficient and rapid value delivery for clients.

“The capabilities offered by the o9 platform are now increasingly mission critical for any global company,” said Sanjiv Sidhu, o9 Chairman and Co-Founder. “As we talk to CxOs, we see that the COVID-19 pandemic has only elevated in their minds the need for accelerated digital transformation of planning and operations capabilities to drive structural improvements in resilience, agility, environmental sustainability, productivity and cost management. o9 is uniquely positioned to help and be the partner of choice for companies as they build their digital future.”

Jake Heller, Co-head of KKR’s Technology Growth team in the Americas, said: “Sanjiv and Chakri are industry pioneers who have built a best-in-class team and technology platform with category defining potential. Whether you look at trends in e-commerce and digitization, rapidly changing consumer habits, or the heightened uncertainty in the world today, all indicators point to the vital importance of faster, smarter and more dynamic planning capabilities for managing global supply chains and operations. We look forward to working closely alongside the o9 team to continue building on the company’s tremendous momentum.”

Jimmy Miele, Principal at KKR, said: “As we evaluated this investment and spoke to industry participants, what stood out is o9’s reputation for innovation and excellence in execution, as well as the strong endorsements of their technology by blue-chip clients. We are excited to back this team of proven supply chain planning industry pioneers as they scale and enhance their next-generation platform.”

KKR is making its investment in o9 primarily from its KKR Next Generation Technology Growth Fund II. Mizuho Securities USA acted as exclusive Financial Advisor to KKR.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="About o9 Solutions” data-reactid=”38″>About o9 Solutions

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="o9 Solutions is a premier AI platform powering digital transformations of integrated planning and operations at global companies across a variety of manufacturing and retail industry verticals. Whether it is demand forecasting, commercial planning, supply chain planning, or Integrated Business Planning, o9’s AI platform can transform. Bringing together graph modeling, big data analytics, advanced algorithms for forecasting, demand/supply match, scenario planning, digital engagement portals and easy-to-use interfaces for customers, suppliers, internal operations and cloud-based delivery into one platform, o9 is helping companies accelerate and shape the digital futures of their operating models and planning processes. For more information about o9 Solutions, please visit www.o9solutions.com.” data-reactid=”39″>o9 Solutions is a premier AI platform powering digital transformations of integrated planning and operations at global companies across a variety of manufacturing and retail industry verticals. Whether it is demand forecasting, commercial planning, supply chain planning, or Integrated Business Planning, o9’s AI platform can transform. Bringing together graph modeling, big data analytics, advanced algorithms for forecasting, demand/supply match, scenario planning, digital engagement portals and easy-to-use interfaces for customers, suppliers, internal operations and cloud-based delivery into one platform, o9 is helping companies accelerate and shape the digital futures of their operating models and planning processes. For more information about o9 Solutions, please visit www.o9solutions.com.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="About KKR” data-reactid=”44″>About KKR

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR &amp; Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.” data-reactid=”45″>KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="View source version on businesswire.com: https://www.businesswire.com/news/home/20200428005582/en/” data-reactid=”46″>View source version on businesswire.com: https://www.businesswire.com/news/home/20200428005582/en/

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Contacts” data-reactid=”47″>Contacts

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="o9 Solutions General Inquires
Stephan de Barse
+1 (214) 838-3125
contact@o9solutions.com
” data-reactid=”48″>o9 Solutions General Inquires
Stephan de Barse
+1 (214) 838-3125
contact@o9solutions.com

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Media
Kristi Huller or Miles Radcliffe-Trenner
Tel: + 1 (212) 750-8300
media@kkr.com” data-reactid=”49″>Media
Kristi Huller or Miles Radcliffe-Trenner
Tel: + 1 (212) 750-8300
media@kkr.com

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Tesla shares soar more than 14% as Trump win is seen boosting Elon Musk’s electric vehicle company

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NEW YORK (AP) — Shares of Tesla soared Wednesday as investors bet that the electric vehicle maker and its CEO Elon Musk will benefit from Donald Trump’s return to the White House.

Tesla stands to make significant gains under a Trump administration with the threat of diminished subsidies for alternative energy and electric vehicles doing the most harm to smaller competitors. Trump’s plans for extensive tariffs on Chinese imports make it less likely that Chinese EVs will be sold in bulk in the U.S. anytime soon.

“Tesla has the scale and scope that is unmatched,” said Wedbush analyst Dan Ives, in a note to investors. “This dynamic could give Musk and Tesla a clear competitive advantage in a non-EV subsidy environment, coupled by likely higher China tariffs that would continue to push away cheaper Chinese EV players.”

Tesla shares jumped 14.8% Wednesday while shares of rival electric vehicle makers tumbled. Nio, based in Shanghai, fell 5.3%. Shares of electric truck maker Rivian dropped 8.3% and Lucid Group fell 5.3%.

Tesla dominates sales of electric vehicles in the U.S, with 48.9% in market share through the middle of 2024, according to the U.S. Energy Information Administration.

Subsidies for clean energy are part of the Inflation Reduction Act, signed into law by President Joe Biden in 2022. It included tax credits for manufacturing, along with tax credits for consumers of electric vehicles.

Musk was one of Trump’s biggest donors, spending at least $119 million mobilizing Trump’s supporters to back the Republican nominee. He also pledged to give away $1 million a day to voters signing a petition for his political action committee.

In some ways, it has been a rocky year for Tesla, with sales and profit declining through the first half of the year. Profit did rise 17.3% in the third quarter.

The U.S. opened an investigation into the company’s “Full Self-Driving” system after reports of crashes in low-visibility conditions, including one that killed a pedestrian. The investigation covers roughly 2.4 million Teslas from the 2016 through 2024 model years.

And investors sent company shares tumbling last month after Tesla unveiled its long-awaited robotaxi at a Hollywood studio Thursday night, seeing not much progress at Tesla on autonomous vehicles while other companies have been making notable progress.

Tesla began selling the software, which is called “Full Self-Driving,” nine years ago. But there are doubts about its reliability.

The stock is now showing a 16.1% gain for the year after rising the past two days.

The Canadian Press. All rights reserved.

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S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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S&P/TSX up more than 200 points, U.S. markets also higher

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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