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Business: Concentrix provides technology-infused customer experience (CX) solutions and runs customer service for 2,000 customers globally. They are the second largest outsourced CX company globally and provide CX process optimization, technology innovation, front- and back-office automation, analytics and business transformation services. Activist Commentary: Impactive Capital is an activist hedge fund founded in 2018 by Lauren Taylor Wolfe and Christian Alejandro Asmar. Impactive Capital is an active ESG (AESG) investor that launched with a $250 million investment from CalSTRS and now has almost $3 billion. Concentrix, the second-largest outsourced CX company globally, is a high-quality business.
Persons: Lauren Taylor Wolfe, Christian Alejandro Asmar, Wolfe, Asmar, Impactive, Concentrix, Ken Squire Organizations: CX, Impactive, Concentrix, 13D Locations: Impactive, CalSTRS, Asia, Caribbean, United States
July 26 - Industrial software maker PTC (PTC.O) forecast fourth-quarter revenue below estimates on Wednesday, as economic uncertainty forces companies to cut back on spending to bolster their bottom lines. It expects fourth-quarter revenue between $540 million and $570 million, below analysts' estimate of $572.9 million, according to IBES data from Refinitiv. It reported third-quarter revenue of $542 million, compared with $462 million, a year earlier. Analysts expected the firm to report quarterly revenue of $523.7 billion, according to Refinitiv IBES data. Excluding items, PTC posted a profit of 99 cents per share in the April-to-June period, compared with estimates of $1 per share.
Persons: Neil Barua, James Heppelmann, Akash Sriram, Pooja Desai Organizations: PTC, Companies, Refinitiv, Lifecycle Management, Thomson Locations: United States, Boston, Bengaluru
But success in applying AI, whether based on the most advanced machine learning (ML) or the latest generative AI leveraging foundation models, is not just measured in speed. Whether based on ML or foundation models, the more customized your AI models are to those priorities, the better you will be able to serve your customers and deliver real business value. A hybrid cloud architecture provides the data foundation for extending AI deep into the business. If the models contain bias, or if AI models are misleading, "hallucinate," or are not explainable, the risk and cost of reputational damage and regulatory fines could be high. Three opportunities to put AI into actionHere are the best opportunities to derive benefit from AI in your business today:1.
Persons: IBM Watson, Carhartt, Let's Organizations: IBM Consulting, IBM, Dutch Bank ABN AMRO, IT, Insider Studios
Software firm PTC to buy peer ServiceMax for about $1.5 bln
  + stars: | 2022-11-17 | by ( ) www.reuters.com   time to read: +1 min
Nov 17 (Reuters) - Software firm PTC (PTC.O) said on Thursday it will buy cloud-based provider of software ServiceMax for $1.46 billion in cash as it looks to expand its portfolio of product lifecycle management offerings. The deal will be funded in two stages, with $808 million paid at closing expected in early January and $650 million paid in October next year. PTC and ServiceMax both help manufacturers of complex, highly configured products such as industrial products and aerospace to track and monitor products throughout their lifecycle. "PTC is poised to be the only company that will be able to offer manufacturers this comprehensive view of their products at each stage of the lifecycle," said PTC Chief Executive Jim Heppelmann. Reporting by Eva Mathews and Chavi Mehta in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.
Siemens signs deal to supply equipment for gigafactories JV
  + stars: | 2022-10-13 | by ( ) www.reuters.com   time to read: +2 min
Gigafactories is a generic term referring to facilities that produce batteries for electric vehicles on a large scale. Under the deal, Siemens will become ACC's preferred supplier for automation, digitalisation and electrification technology. Terms of the partnership, which is part of the Siemens Xcelerator open digital platform launched earlier this year, have not been revealed. "ACC uses virtually the entire spectrum of Xcelerator - from factory construction to production automation to building services," Siemens managing board member Cedrik Neike told Reuters. Siemens on Thursday also announced a deal with electric vehicle company Volta Trucks to deliver electric charging infrastructure for truck customers, to help the transition to electrified vehicles.
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