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Qihoo 360 Reports Third Quarter 2012 Unaudited Financial Results

BEIJING, Nov. 19, 2012 /PRNewswire/ -- Qihoo 360 Technology Co. Ltd. ("Qihoo 360" or the "Company") (NYSE: QIHU), a leading Internet company in China, today reported its unaudited financial results for the third quarter ended September 30, 2012.

Third Quarter Financial Highlights[1]

  • Revenues were $84.0 million, a 77% increase from $47.5 million in the third quarter of 2011.
  • Net income attributable to Qihoo 360 was $12.9 million, an 18% increase from $10.9 million in the third quarter of 2011.
  • Net income attributable to Qihoo 360 excluding share-based compensation (non-GAAP)[1] was $24.2 million, a 24% increase from $19.5 million in the third quarter of 2011.
  • Diluted earnings per ADS[2] ("EPADS") attributable to Qihoo 360 was $0.11 compared to $0.09 in the same period last year. 
  • Diluted EPADS attributable to Qihoo 360 excluding share-based compensation (non-GAAP)[1] was $0.20 compared to $0.16 in the same year ago period.

Third Quarter Operating Metrics

  • Total monthly active users of Qihoo 360's products and services reached a record 442 million in September 2012, compared to 370 million in September 2011[3].
  • User penetration of Qihoo 360's products was 95% in September 2012, compared to 89% in September 2011[3].
  • Total smartphone users of Qihoo 360's mobile security products[4] reached approximately 149 million in September 2012.
  • Monthly active users of Qihoo 360's browsers reached a record 303 million in September 2012, compared to 235 million in September 2011[3].
  • User penetration of Qihoo 360's browsers was a record 65% in September 2012, compared to 57% in September 2011[3].
  • Average daily unique visitors to the 360 Personal Start-up Page and its sub-pages were 89 million in the third quarter of 2012, compared to 55 million in the third quarter of 2011.
  • Average daily clicks on Qihoo 360's Personal Start-up Page and its sub-pages were approximately 451 million in the third quarter of 2012, compared to 185 million in the third quarter of 2011.
  • Paying users of Qihoo 360's game platform were approximately 182,000 in September 2012, compared to 148,000 in June 2012.

[1] Non-GAAP measures and related reconciliations to GAAP measures are described in the accompanying sections titled "About Non-GAAP Financial Measures" and "Reconciliations of Non-GAAP Financial Measures to Comparable GAAP Measures" at the end of the press release.

 

[2] American Depositary Shares, which are traded on the NYSE. Every two ADSs represent three Class A ordinary shares of the Company.


[3] User and market penetration data is based on data from iResearch as of September 2012.


[4] Referring to 360 Mobile Safe, the company's main mobile security product.

"The third quarter of 2012 marks our seventh straight quarter of robust revenue growth since the Company's IPO last year. We continue to outperform the growth rate of the industry, despite the macro economic challenges that persist in the market," said Mr. Hongyi Zhou, Chairman and Chief Executive Officer of Qihoo 360.  "Monthly active users of our PC-based products and services, which cover approximately 95% of the Chinese PC Internet population, increased to 442 million as of September 2012. Additionally, the number of smartphone users of our key mobile security product – 360 Mobile Safe reached 149 million and we further strengthened our established leadership in this field."

"We believe our success is largely driven by our company-wide focus on innovation in product and technology, attention to customer satisfaction, as well as superior execution capabilities. A major milestone during the third quarter was our launch of 360 search services. We recently began to publicly test our search engine monetization system and we believe that our search services will capture a meaningful share of the market and have a long-term transformative effect on our business model."

"We also believe that the products and services we launched earlier this year will continue to enhance our monetization capabilities in the coming quarters despite the macro headwinds in the Chinese economy," concluded Mr. Zhou.

Mr. Xiangdong Qi, President of Qihoo 360, added, "We are thrilled to have surpassed our revenue guidance and internal profitability targets this quarter even though the overall industry experienced slower growth. Our online advertising business continued to deliver solid growth, supported by a robust increase in our user activity on Qihoo's Personal Start-up Page. Internet value-added services also outpaced the market with a 111% year-over-year increase in revenue driven by strong momentum in paying user growth. As we previously stated, we have made proactive investments in product and technology development to continue our innovation and expand our footprint, particularly in mobile Internet and search technology. We believe that the investment will support sustainable growth for our company and drive long-term shareholder value."

Third Quarter 2012 Results

Revenues

Revenues were $84.0 million, representing an increase of 77.0% from $47.5 million in the third quarter of 2011 and an increase of 15.5% from $72.8 million in the second quarter of 2012. The year-over-year and quarter-over-quarter increases in revenues were mainly due to continued robust growth in both online advertising and Internet value-added services.

Online advertising revenues were $58.4 million, up 66.5% from the same period last year and 14.8% from the prior quarter. The robust year-over-year growth was primarily driven by further market penetration of the Company's key products, such as the 360 browsers and Personalized Start-up Pages, and increased user activity, somewhat offset by a subdued macro economy.

Internet value-added service revenues, which are mainly derived from web game operations, were $25.5 million, up 110.8% from the same period last year and 17.8% from the prior quarter. The strong year-over-year and sequential growth was mainly driven by solid growth of the Company's paying user base. 

Cost of Revenues

Cost of revenues were $7.9 million, compared to $5.3 million in the third quarter of 2011 and $6.6 million in the second quarter of 2012, representing increases of 47.8% and 19.1%, respectively.

Operating Expenses

Operating expenses were $63.9 million, compared to $31.4 million in the third quarter of 2011 and $56.4 million in the second quarter of 2012. Operating expenses excluding share-based compensation (non-GAAP) were $52.6 million, compared to $22.7 million in the third quarter of 2011 and $42.7 million in the prior quarter.

The year-over-year and sequential increases in non-GAAP operating expenses were mainly driven by increased personnel-related expenses, bandwidth expenses, equipment depreciation expenses, as well as marketing expenses, as Qihoo 360 continued to strengthen its technology and product development capabilities, and expanded into new business initiatives.

Operating Income

Operating income was $12.2 million, compared to $10.8 million in the third quarter of 2011 and operating income of $9.9 million in the prior quarter.   

Operating income excluding share-based compensation (non-GAAP) was $23.5 million, compared to $19.4 million in the third quarter of 2011 and $23.6 million in the prior quarter.

Operating margin was 14.5%, compared to 22.7% in the third quarter of 2011 and 13.6% in the prior quarter.

Operating margin excluding share-based compensation (non-GAAP) was 28.0%, compared to 40.9% in the third quarter of 2011 and 32.4% in the prior quarter.

The year-over-year and quarter-over-quarter decline in non-GAAP operating margin was due to increased expenses related to new business initiatives in search and mobile Internet.

Net Income

Net income attributable to Qihoo 360 was $12.9 million, compared to $10.9 million in the third quarter of 2011 and $7.0 million in the prior quarter.

Net income attributable to Qihoo 360 excluding share-based compensation (non-GAAP) was $24.2 million, compared to $19.5 million in the third quarter of 2011 and $20.6 million in the prior quarter.

Net Margin

Net margin was 15.4%, compared to 23.0% in the same period last year, and 9.6% in the prior quarter.

Net margin excluding share-based compensation (non-GAAP) was 28.8%, compared to 41.2% in the same period last year and 28.4% in the prior quarter. The year-over-year decline in non-GAAP net margin was due to increased expenses related to new business initiatives in search and mobile Internet.

Diluted Earnings per ADS

Diluted EPADS for the third quarter of 2012 was $0.11, and diluted EPADS for the third quarter of 2012 excluding share-based compensation (non-GAAP) was $0.20. Both GAAP and non-GAAP weighted average ADS used in computing diluted EPADS was 122.3 million.

Cash Flows and Balance Sheet

Net cash generated from operations in the third quarter of 2012 was $34.8 million. As of September 30, 2012, the Company had cash and cash equivalents of $348.0 million.

Business Outlook

For the fourth quarter of 2012, the Company expects revenues to be between $93 million and $94 million, representing a year-over-year increase of 49% - 51%. For the full year 2012, the Company expects revenues to be between $319 million and $320 million, representing a year-over-year increase of approximately 90%. These estimates reflect the Company's current and preliminary view, which is subject to possible material changes.

Conference Call

Qihoo 360's management will host a conference call to discuss the results at 7:00 p.m. Eastern Time on November 19, 2012 (8:00 a.m. Beijing time on November 20, 2012).

The dial-in details for the live conference call are:

US Toll Free Dial In:

+1 866-519-4004

US Toll / International Dial In:

+1 718-354-1231

Hong Kong Dial In:

+852-2475-0994

Passcode:

QIHU

A telephone replay of the call will be available after the conclusion of the conference call at 10:00 p.m. Eastern Time on November 19, 2012 through 07:00 a.m. Eastern Time on November 27, 2012. The dial-in details for the replay are:

International Dial In:

+1 855-452-5696

US Dial In:

+1 646-254-3697

Passcode:

68469154

A live webcast of the conference call will be available on the investor relations section of Qihoo 360's website at: http://corp.360.cn.

About Qihoo 360

Qihoo 360 Technology Co. Ltd. (NYSE: QIHU) is a leading Internet company in China. The Company is also the number one provider of Internet and mobile security products in China as measured by its user base, according to iResearch. Qihoo 360 also provides users with secure access points to the Internet via its market leading web browsers and application stores. The Company has built one of the largest open Internet platforms in China and monetizes its massive user base primarily through online advertising and through Internet value-added services on its open platform.

Forward-looking Statements

This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward- looking statements by terminology such as "will," "expects," "believes," "anticipates," "intends," "estimates" and similar statements. Among other things, the management's quotations and the "Business Outlook" section contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about Qihoo 360 and the industry. Potential risks and uncertainties include, but are not limited to: the Company's ability to continue to innovate and provide attractive products and services to attract and retain users; the Company's ability to keep up with rapid changes in technologies and Internet-enabled devices; the Company's ability to leverage its user base to attract customers for our revenue-generating services; and the Company's dependence on online advertising for a substantial portion of our revenues; and the Company's ability to compete effectively. All information provided in this press release is as of the date of the press release, and Qihoo 360 undertakes no obligation to update any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although Qihoo 360 believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that its expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results. Further information regarding risks and uncertainties faced by Qihoo 360 is included in Qihoo 360's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F dated April 19, 2012.

About Non-GAAP Financial Measures

To supplement our financial results presented in accordance with U.S. GAAP, we use non-GAAP financial measure, which is adjusted from results based on U.S. GAAP to exclude share-based compensation expenses. Reconciliations of our non-GAAP financial measures to our U.S. GAAP financial measures are set forth in tables at the end of this earnings release, which provide more details on the non-GAAP financial measures.

Our non-GAAP financial information is provided as additional information to help our investors compare business trends among different reporting periods on a consistent basis and to enhance investors' overall understanding of the historical and current financial performance of our continuing operations and our prospects for the future. Our non-GAAP financial information should be considered in addition to results prepared in accordance with U.S. GAAP, but should not be considered a substitute for or superior to U.S. GAAP results. In addition, our calculation of this non-GAAP financial information may be different from the calculation used by other companies, and therefore comparability may be limited.

For investor and media inquiries, please contact:

Qihoo 360 Technology Co. Ltd.

In China:
Tel: +86 10-5878-1574
E-mail: [email protected]

In the U.S.:
The Piacente Group, Inc.
Brandi Floberg or Lee Roth
Tel: (212) 481-2050
E-mail: [email protected]

 

Qihoo 360 Technology Co. Ltd.

Condensed Consolidated Balance Sheets

(U.S. dollars in thousands, except for shares and per share data)

(Unaudited)


December 31,

September 30,


2011

2012

ASSETS



Current assets:



  Cash and cash equivalents

343,731

348,023

  Trading securities

231

173

        Accounts receivable (net of allowance for doubtful accounts of $68 and $120
        as of December 31, 2011 and September 30, 2012, respectively)

16,741

20,512

  Prepaid expenses and other current assets

12,808

22,283

  Deferred tax assets – current

858

1,488

Total current assets

374,369

392,479

Property and equipment, net

16,665

52,880

Acquired intangible assets, net

7,854

8,520

Goodwill

4,580

4,587

Long-term investments

15,561

30,173

Other noncurrent assets

4,415

26,386

Deferred tax assets – noncurrent

514

517

TOTAL ASSETS

423,958

515,542

LIABILITIES



Current liabilities:



  Accounts payable (including accounts payable of the consolidated VIEs without 
       recourse to Qihoo 360 Technology Co. Ltd. of $5,872 and $5,860 as of 
       December 31, 2011 and September 30, 2012, respectively)

 

5,872

 

5,860

  Accrued expenses and other current liabilities (including accrued expenses and 
       other current liabilities of the consolidated VIEs without recourse to 
       Qihoo 360 Technology Co. Ltd. of $9,469 and $17,992 as of 
       December 31, 2011 and September 30, 2012, respectively)

 

21,287

 

31,937

  Deferred revenue-current (including deferred revenue-current of the consolidated 
       VIEs without recourse to Qihoo 360 Technology Co. Ltd. of $9,831 and $14,135
       as of December 31, 2011 and September 30, 2012, respectively)

 

12,089

 

17,020

  Income tax payable (including income tax payable of the consolidated VIEs without 
       recourse to Qihoo 360 Technology Co. Ltd. of $3,635 and $3,740 as of 
       December 31, 2011 and September 30, 2012, respectively)

 

7,312

 

7,238

Total current liabilities

46,560

62,055

Deferred tax liabilities – noncurrent

507

464

   Other noncurrent liabilities (including other noncurrent liabilities of the consolidated VIEs
       without recourse to Qihoo 360 Technology Co. Ltd. of $286 and $286 as of
       December 31, 2011 and September 30, 2012, respectively)

286

286

Deferred revenue-noncurrent (including deferred revenue-noncurrent of the consolidated
       VIEs without recourse to Qihoo 360 Technology Co. Ltd. of $1,589 and $3,033 as of
       December 31, 2011 and September 30, 2012, respectively)

 

5,113

 

5,842

TOTAL LIABILITIES

52,466

68,647

EQUITY



Total Qihoo 360 Technology Co. Ltd. Shareholders' equity

370,853

445,273

Noncontrolling interest

639

1,622

Total equity

371,492

446,895

TOTAL LIABILITIES AND EQUITY

423,958

515,542

 

Qihoo 360 Technology Co. Ltd.

Condensed Consolidated Statements of operations

(U.S. dollars in thousands, except for shares and per share data)

(Unaudited)


Three Months Ended


Nine Months Ended

Nine Months Ended


September 30,
2011

June 30,
2012

September 30,
2012


September 30, 
2011

September 30,
2012

Revenues:







  Internet services

47,289

72,751

84,028


104,792

225,931

  Sales of third party anti-virus software

201

19

7


738

150

Total revenues

47,490

72,770

84,035


105,530

226,081

Cost of revenues:







  Internet services

5,296

6,629

7,901


11,638

22,113

  Sales of third party anti-virus software

53

8

3


200

40

Total cost of revenues

5,349

6,637

7,904


11,838

22,153

Subsidy income

9

135

-


143

142

Operating expenses:







  Selling and marketing

8,943

13,799

13,909


36,585

39,562

  General and administrative

5,551

7,681

8,535


12,282

23,845

  Product development(a)

16,888

34,883

41,475


41,657

104,100

Total operating expenses

31,382

56,363

63,919


90,524

167,507








Income from operations

10,768

9,905

12,212


3,311

36,563

Interest income, net

834

1,846

1,699


1,356

5,057

Other (expense) income

(62)

82

54


(3)

470

Exchange gain (loss)

2,946

(1,920)

1,102


3,575

(917)

Impairment  loss on long-term investment

-

-

(157)


-

(157)

Change on fair value of trading securities

(218)

(68)

(44)


(157)

(58)

Gain on disposal of  subsidiaries and long-term investments

-

1,460

1,282


-

6,308

Income before income tax expense and loss from equity method investments

14,268

11,305

16,148


8,082

47,266








Income tax expense

(3,460)

(3,400)

(1,497)


(7,846)

(9,940)

Loss from equity method investments

(271)

(878)

(1,932)


(45)

(3,490)








Net income

10,537

7,027

12,719


191

33,836








Less: Net loss (income) attributable to noncontrolling interest

367

(30)

212


378

158

Net income attributable to

  Qihoo 360 Technology Co. Ltd.

 

10,904

 

6,997

 

12,931


 

569

 

33,994

Accretion of Series A convertible participating redeemable preferred shares

-

-

-


203

-

Accretion of Series B convertible participating redeemable preferred shares

-

-

-


313

-

Accretion of Series C convertible participating redeemable preferred shares

-

-

-


255

-

Net income (loss) attributable to ordinary shareholders

10,904

6,997

12,931


(202)

33,994

Net income (loss) per ordinary share-basic

0.06

0.04

0.07


(0.00)

0.19

Net income (loss) per ordinary share-diluted

0.06

0.04

0.07


(0.00)

0.19








Weighted average shares used in calculating net income per ordinary
share-basic (in millions)(b)

176

176

176


140

176

Weighted average shares used in calculating net income per ordinary
share-diluted (in millions)(b)

181

183

183


171

183








(a): From Q3 2011, the Company changed the "Research and development expenses" to "Product development expenses" in the
statements of operations. This is mainly because the business has been growing rapidly and along with the development of new
products, the Company has devoted more resources in enhancing its existing products, by which the Company believes using
"Product development expenses" will better reflect the nature of such expenses.

 

The Product development expenses include costs associated with new product development and enhancement for existing
products, such as salaries and benefits, including share-based compensation expenses, costs of bandwidth and utilities,
license and technical service fees, and depreciation of equipment and amortization of acquired intangible assets.

 

(b): 3 Ordinary Shares = 2 ADSs

 

Qihoo 360 Technology Co. Ltd.

Condensed Consolidated Statements of Cash Flows

(U.S. dollars in thousands)

(Unaudited)


Three-months period ended


Nine months period ended


September 30,
2011

September 30,
2012


September 30,
2011

September 30, 2012

Cash flows from operating activities:






Net income

10,537

12,719


191

33,836

Share-based compensation

8,645

11,299


38,763

36,629

Depreciation and amortization

1,254

4,443


2,592

9,523

Loss on equity method investment

271

1,932


45

3,490

Gain on disposal of subsidiaries and long-term investments

-

(1,282)


-

(6,308)

Impairment on long-term investment

-

157


-

157

Unrealized holding loss on trading securities

218

44


157

58

Provision of allowance for doubtful accounts

-

201


51

282

Changes in operating assets and liabilities

(684)

5,297


342

1,096

Net cash provided by operating activities

20,241

34,810


42,141

78,763

Cash flows from investing activities:






Purchase of property and equipment and intangible assets

(5,271)

(46,085)


(10,007)

(66,614)

Payment for the purchase of other assets

(378)

-


(1,108)

(459)

Proceeds from disposal of property and equipment

-

1,023


-

1,023

Net cash acquired from business acquisitions

1,793

443


328

258

Payment for trading securities and long-term investment

(8,555)

(7,304)


(9,005)

(20,887)

Dividends received from an investee

-

-


-

313

Cash collected from sale of a subsidiary and long-term investments

-

4,202


-

9,843

Net cash used in investing activities

(12,411)

(47,721)


(19,792)

(76,523)







Cash flows from financing activities:






Proceeds from initial public offering ("IPO")

-

-


233,021

-

Capital contribution from noncontrolling interest

1,559

35


1,559

35

Prepayment for share repurchase

-

(139)


-

(139)

Proceeds from exercise of stock option

-

1,063


-

2,089

Net cash provided by financing activities

1,559

959


234,580

1,985







Effect of exchange rate changes

706

1,080


1,583

67

INCREASE (DECREASE) IN CASH

10,095

(10,872)


258,512

4,292

CASH, BEGINNING OF PERIOD

308,922

358,895


60,505

343,731

CASH, END OF PERIOD

319,017

348,023


319,017

348,023

 

Reconciliations of Non-GAAP Financial Measures to Comparable GAAP Measures


Three Months Ended September 30, 2011


Three Months Ended June 30, 2012


Three Months Ended September 30, 2012


GAAP

Adjustment(c)

Non-GAAP


GAAP

Adjustment(c)

Non-GAAP


GAAP

Adjustment(c)

Non-GAAP













Operating expenses

$31,382

($8,641)

$22,741


$56,363

($13,647)

$42,716


$63,919

($11,299)

$52,620













Income from operations

$10,768

$8,645

$19,413


$9,905

$13,647

$23,552


$12,212

$11,299

$23,511

Operating margin

22.7%


40.9%


13.6%


32.4%


14.5%


28.0%













Net income attributable to
  Qihoo 360 Technology Co. Ltd.

$10,904

$8,645

$19,549


$6,997

$13,647

$20,644


$12,931

$11,299

$24,230

Net margin

23.0%


41.2%


9.6%


28.4%


15.4%


28.8%

Diluted earnings per ADS

$0.09


$0.16


$0.06


$0.17


$0.11


$0.20














Nine Months Ended September 30, 2011


Nine Months Ended September 30, 2012






GAAP

Adjustment(c)

Non-GAAP


GAAP

Adjustment(c)

Non-GAAP

















Operating expenses

$90,524

($38,754)

$51,770


$167,507

($36,625)

$130,882

















Income from operations

$3,311

$38,763

$42,074


$36,563

$36,629

$73,192





Operating margin

3.1%


39.9%


16.2%


32.4%

















Net income (loss) attributable to
  Qihoo 360 Technology Co. Ltd.

($202)

$38,763

$38,561


$33,994

$36,629

$70,623





Net margin

(0.2%)


36.5%


15.0%


31.2%





Diluted earnings per ADS

($0.00)


$0.34


$0.28


$0.58

















(c): Adjustment to exclude the share-based compensation expense of each period.  




SOURCE Qihoo 360 Technology Co. Ltd.

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In his keynote at 16th Cloud Expo, Rodney Rogers, CEO of Virtustream, discussed the evolution of the company from inception to its recent acquisition by EMC – including personal insights, lessons learned (and some WTF moments) along the way. Learn how Virtustream’s unique approach of combining the economics and elasticity of the consumer cloud model with proper performance, application automation and security into a platform became a breakout success with enterprise customers and a natural fit for the EMC Federation.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of profound change in the industry.
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect their organization.
It is one thing to build single industrial IoT applications, but what will it take to build the Smart Cities and truly society-changing applications of the future? The technology won’t be the problem, it will be the number of parties that need to work together and be aligned in their motivation to succeed. In his session at @ThingsExpo, Jason Mondanaro, Director, Product Management at Metanga, discussed how you can plan to cooperate, partner, and form lasting all-star teams to change the world and it starts with business models and monetization strategies.
Converging digital disruptions is creating a major sea change - Cisco calls this the Internet of Everything (IoE). IoE is the network connection of People, Process, Data and Things, fueled by Cloud, Mobile, Social, Analytics and Security, and it represents a $19Trillion value-at-stake over the next 10 years. In her keynote at @ThingsExpo, Manjula Talreja, VP of Cisco Consulting Services, discussed IoE and the enormous opportunities it provides to public and private firms alike. She will share what businesses must do to thrive in the IoE economy, citing examples from several industry sectors.
There will be 150 billion connected devices by 2020. New digital businesses have already disrupted value chains across every industry. APIs are at the center of the digital business. You need to understand what assets you have that can be exposed digitally, what their digital value chain is, and how to create an effective business model around that value chain to compete in this economy. No enterprise can be complacent and not engage in the digital economy. Learn how to be the disruptor and not the disruptee.
Akana has released Envision, an enhanced API analytics platform that helps enterprises mine critical insights across their digital eco-systems, understand their customers and partners and offer value-added personalized services. “In today’s digital economy, data-driven insights are proving to be a key differentiator for businesses. Understanding the data that is being tunneled through their APIs and how it can be used to optimize their business and operations is of paramount importance,” said Alistair Farquharson, CTO of Akana.
Business as usual for IT is evolving into a "Make or Buy" decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud business applications and services across multiple cloud delivery models.
The enterprise market will drive IoT device adoption over the next five years. In his session at @ThingsExpo, John Greenough, an analyst at BI Intelligence, division of Business Insider, analyzed how companies will adopt IoT products and the associated cost of adopting those products. John Greenough is the lead analyst covering the Internet of Things for BI Intelligence- Business Insider’s paid research service. Numerous IoT companies have cited his analysis of the IoT. Prior to joining BI Intelligence, he worked analyzing bank technology for Corporate Insight and The Clearing House Payment...
"Optimal Design is a technology integration and product development firm that specializes in connecting devices to the cloud," stated Joe Wascow, Co-Founder & CMO of Optimal Design, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that CommVault has been named “Bronze Sponsor” of SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. A singular vision – a belief in a better way to address current and future data management needs – guides CommVault in the development of Singular Information Management® solutions for high-performance data protection, universal availability and simplified management of data on complex storage networks. CommVault's exclusive single-platform architecture gives companies unp...
Electric Cloud and Arynga have announced a product integration partnership that will bring Continuous Delivery solutions to the automotive Internet-of-Things (IoT) market. The joint solution will help automotive manufacturers, OEMs and system integrators adopt DevOps automation and Continuous Delivery practices that reduce software build and release cycle times within the complex and specific parameters of embedded and IoT software systems.
"ciqada is a combined platform of hardware modules and server products that lets people take their existing devices or new devices and lets them be accessible over the Internet for their users," noted Geoff Engelstein of ciqada, a division of Mars International, in this SYS-CON.tv interview at @ThingsExpo, held June 9-11, 2015, at the Javits Center in New York City.
Internet of Things is moving from being a hype to a reality. Experts estimate that internet connected cars will grow to 152 million, while over 100 million internet connected wireless light bulbs and lamps will be operational by 2020. These and many other intriguing statistics highlight the importance of Internet powered devices and how market penetration is going to multiply many times over in the next few years.