Latest news with #TomJohnstone
Yahoo
4 days ago
- Business
- Yahoo
Genpact Acquires XponentL Data to Accelerate AI-Led Innovation
Combination will fast-track Genpact's expansion of advanced technology solutions, amplifying data and AI capabilities, domain expertise, and strategic partnerships NEW YORK, June 5, 2025 /PRNewswire/ -- Genpact (NYSE: G), a global advanced technology services and solutions company, today announced it has acquired XponentL Data, a data products and artificial intelligence (AI) solutions provider. XponentL brings differentiated domain-led data strategy, design, and engineering capabilities; deep industry experience; and strategic partnerships. This acquisition builds on Genpact's pivot to data, AI, and other advanced technologies, further enhancing Genpact's ability to help clients across the lifecycle of AI transformation, from strategy through implementation. In addition to being a Databricks partner, XponentL adds robust training and capabilities across numerous leading data platforms, including Amazon Web Services (AWS) and Microsoft. The company also brings proven industry- and process-specific solutions that accelerate time to business value. "We believe the future belongs to companies that deploy AI at speed and scale - on a bedrock of data expertise," said Balkrishan 'BK' Kalra, President and Chief Executive Officer, Genpact. "At Genpact, we have been steadily pivoting to an AI-first future, and today's acquisition is another proof point of our commitment to deliver client value through innovative solutions. XponentL's robust intellectual property will further strengthen how Genpact can help clients harness the full value of their data. We are incredibly excited to welcome XponentL Data to the Genpact team." "Genpact and XponentL share a vision to unlock the power of data for our clients – this opportunity allows us to take it to the next level," said Tom Johnstone, Chief Executive Officer, XponentL Data. "Genpact's domain, process, and technology leadership, global footprint, and extensive client base will help scale our solutions together to drive greater impact for our clients." The combination further positions Genpact to help clients with data and AI transformation, creating a foundational intelligence capability to drive operational efficiency and business growth in the agentic AI era. The acquisition will fuel Genpact's Service-as-Agentic-Solutions and the Genpact AI Gigafactory by bringing comprehensive domain solutions in Life Sciences and Healthcare, as well as deep expertise with enterprise data and AI strategy, architecture, and engineering talent. "XponentL Data has been a pioneer in applying intelligent agents and modern data architectures on the Databricks Data Intelligence Platform to drive real-world impact. Their acquisition by Genpact—a global leader in digital transformation and operational excellence—creates a unique combination of innovation and scale," said Michael Hartman, Senior Vice President, Americas Industry, Databricks. "We're excited to support this next chapter as they help enterprises operationalize AI and drive measurable business value." XponentL is headquartered in Pennsylvania and operates globally. Johnstone will continue to lead the XponentL business and all XponentL employees will join Genpact. The acquisition closed on June 5, 2025. Financial details of the transaction were not disclosed. About XponentL Data We specialize in delivering innovative Data & AI driven solutions that empower organizations to harness their full potential. With unmatched expertise, a collaborative approach, and a focus on value-driven results, we simplify complex challenges to unlock strategic opportunities, making us the ideal partner for businesses seeking transformation and competitive advantages. For more information, visit XponentL. About GenpactGenpact (NYSE: G) is an advanced technology services and solutions company that delivers lasting value for leading enterprises globally. Through our deep business knowledge, operational excellence, and cutting-edge solutions – we help companies across industries get ahead and stay ahead. Powered by curiosity, courage, and innovation, our teams implement data, technology, and AI to create tomorrow, today. Get to know us at and on LinkedIn, X, YouTube, and Facebook. Safe Harbor This press release contains certain statements concerning Genpact's future expectations, plans and prospects that constitute forward-looking statements, as defined in the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these statements by forward-looking terms such as "expect," "anticipate," "intend," "plan," "believe," "could," "may," "shall," "will," "would" and variations of such words and similar expressions, or the negative of such words or similar expressions. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those in such forward-looking statements. These risks, uncertainties and other factors include but are not limited to the accuracy of our assumptions about trends in our market, our ability to successfully consummate or integrate strategic acquisitions, our ability to achieve expected benefits from strategic acquisitions, our ability to manage growth, our ability to develop and successfully execute our business strategies, our ability to implement and derive revenues from new service offerings, technological innovation, including AI technology and future uses of agentic AI, generative AI and large language models and our ability to invest in new technologies and adapt to industry developments at sufficient speed and scale, as well as other risks detailed in our reports filed with the U.S. Securities and Exchange Commission, including Genpact's Annual Report on Form 10-K. These filings are available at Genpact may from time to time make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. Although Genpact believes that these forward-looking statements are based on reasonable assumptions, you are cautioned not to put undue reliance on these forward-looking statements, which reflect management's current analysis of future events and should not be relied upon as representing management's expectations or beliefs as of any date subsequent to the time they are made. Genpact undertakes no obligation to update any forward-looking statements that may be made from time to time by or on behalf of Genpact. MEDIA CONTACTS:Investors: Media: Tyra Whelton Alexia Taxiarchos +1 (908) 418-2995 +1 (617) 259-8172 View original content to download multimedia: SOURCE Genpact Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
15-04-2025
- Business
- Associated Press
XponentL Data Announces the Strategic Acquisition of SmartBits, Switzerland
PHILADELPHIA--(BUSINESS WIRE)--Apr 15, 2025-- XponentL Data Inc., a leading provider of Data & AI services, today announced the acquisition of SmartBits, a leading Digital, Data & AI consultancy in Switzerland. This strategic move expands XponentL's service offerings, strengthens its position in the growing Data & AI market and expands its European footprint. The acquisition complements XponentL's existing capabilities in data strategy and platform/software engineering. XponentL aims to enable its clients with AI-ready data, complementing its software partners with assets that drive value across Life Sciences, Healthcare, Retail, Hospitality, Energy, Manufacturing, and Financial Services—forming a foundation for growth. Bekim Kasumi, SmartBits CEO, had this to say about the acquisition, 'I founded SmartBits in Switzerland 24 years ago to advance digital transformation. The acquisition by XponentL Data is an exciting opportunity to scale our expertise and expand our impact in Switzerland and across Europe. With XponentL's strong capabilities in AI and data, SmartBits is well-positioned to drive innovation and deliver greater value to our clients in this rapidly evolving space.' XponentL's CEO, Tom Johnstone, expressed similar thoughts on the synergies, 'The acquisition of SmartBits will allow us to increase our reach in Europe and bolster our platform engineering capabilities.' The initial focus of the acquisition will be launching XponentL's Innovation Lab, which will focus on helping clients quickly prove hypotheses. 'XponentL's Innovation Lab will be where we combine leading technology to solve our clients' most critical business opportunities. The team will take learnings from large technology companies where we'll utilize a golden path approach to drive innovation execution,' said Matt Arellano, President of XponentL. The organizations will introduce industry-focused assets to the market over the next twelve months. About XponentL Data Inc: We specialize in delivering innovative Data & AI driven solutions that empower organizations to harness their full potential. With unmatched expertise, a collaborative approach, and a focus on value-driven results, we simplify complex challenges to unlock strategic opportunities, making us the ideal partner for businesses seeking transformation and competitive advantages. About SmartBits: SmartBits is a management, consulting, and software development company specializing in innovative digital solutions for education and professional development. Established in 2003, SmartBits SH.P.K operates as the Kosovan branch of SmartBits GmbH, headquartered in Zug, Switzerland. View source version on CONTACT: Media: Dave Taub | Chief Marketing Officer [email protected] Additional Information: Matthew Arellano | President & Chief Data Officer [email protected] KEYWORD: EUROPE SWITZERLAND UNITED STATES NORTH AMERICA PENNSYLVANIA INDUSTRY KEYWORD: PROFESSIONAL SERVICES DATA MANAGEMENT DATA ANALYTICS TECHNOLOGY SOFTWARE CONSULTING ARTIFICIAL INTELLIGENCE SOURCE: XponentL Data Inc. Copyright Business Wire 2025. PUB: 04/15/2025 09:44 AM/DISC: 04/15/2025 09:44 AM
BBC News
16-03-2025
- Sport
- BBC News
Wakefield and Leigh go through in Challenge Cup
Tom Johnstone's two tries helped Wakefield Trinity come from behind to win 22-12 at Huddersfield Giants in a West Yorkshire derby and reach the quarter-finals of the Challenge were joined by Leigh Leopards in the last eight as Adrian Lam's side cruised to a 12-try romp to see off Championship team Batley Bulldogs produced the performance of the day, with two moments of quality for newly-promoted Trinity after Liam Hood had levelled the score early in the second Huddersfield, it was more second-half Robinson's team have led in all four of their Super League fixtures this season, and lost them time they led after wingers Adam Swift and Sam Halsall helped them hit back after Mike McMeeken had powered over to open the scoring for the went over from dummy half to make it 12-12 just after the resumption and, after Oliver Pratt's superb tackle had denied Swift a second try, Johnstone took a hand with a trademark tight finish in the who reached a Grand Final with Catalans in 2023 and returned to Wakefield following their promotion last season, then leaped highest to gather a Jake Trueman kick and go Mason Lino coming up with two fine conversions, Trinity, who have began life back in Super League with two wins from four matches, made sure of their place in Monday's quarter-final will also be in the hat after they made light work of Batley, with Umyla Hanley, Keanan Brand and Lachlan Lam all scoring Badrock bagged his first home try for the Leopards while Darnell McIntosh, Tesi Niu, Matt Davis, Aaron Pene and Owen Trout also got on the could have been worse for Batley, but Ben McNamara missed five conversions, and the Yorkshire side got a consolation try when Robbie Butterworth made use of an excellent 40/20 by Josh Woods.
Yahoo
13-03-2025
- Automotive
- Yahoo
Europe's would-be battery champion Northvolt files for bankruptcy
By Marie Mannes STOCKHOLM (Reuters) -Battery cell maker Northvolt has filed for bankruptcy in Sweden, the company said on Wednesday, marking one of the country's largest corporate failures and effectively ending Europe's best hope of developing a rival to challenge China. "This was a decision we did not take lightly" and it was the only "realistic path forward," Northvolt Chairman Tom Johnstone told a press conference, saying every avenue had been pursued to avoid bankruptcy for the company, which puts 5,000 jobs at risk. The EV battery maker sought U.S. Chapter 11 bankruptcy protection in November as its cash pile dwindled and it scrambled to secure funds to fix problems boosting output at its flagship plant in northern Sweden. Its debt stood just over $8 billion across the Northvolt entities entering bankruptcy, U.S. chapter 11 documents showed. The bankruptcy is one of the biggest in Swedish corporate history, and the most high-profile since carmaker Saab Automobile more than a decade ago. It is a huge blow to Sweden's north, particularly the small town of Skelleftea, home to the Northvolt Ett factory. Europe's auto sector had hoped Northvolt would reduce Western carmakers' reliance on Chinese rivals such as battery maker CATL and EV and battery maker BYD. 'A LOT GONE WRONG' "It's obvious that a lot has gone wrong, and the price is now being paid by our members," Marie Nilsson, leader of the IF Metall union said in a statement. The Swedish company has received more than $10 billion in equity, debt and public financing since its 2016 inception, and its biggest owners include Volkswagen with a 21% stake, and Goldman Sachs, with 19%. Northvolt's operations in North America and Germany were not filing for bankruptcy in their jurisdictions, the company said, and neither was its Polish unit, an internal document showed. Canada's Industry Minister Francois-Philippe Champagne said the Canadian government was in talks to help find a buyer for Northvolt's plant in Quebec. German Economy Minister Robert Habeck said he hoped Northvolt might still be rescued by an investor who could secure the future of its planned German plant. The bankruptcy will impact Northvolt's flagship plant in Skelleftea, where a green industry boom had created thousands of jobs, many of which were now in jeopardy. "It is important to emphasize that what is now affecting Skelleftea in the short term will affect Sweden and Europe much more severely," Skelleftea Mayor Lorents Burman said. Northvolt last year clinched a $5 billion green loan deal to expand a plant, but funding was cancelled as its problems mounted, including raising output at its Skelleftea factory. Sweden's Deputy Prime Minister Ebba Busch said the government stood ready to support Northvolt employees, and she hoped "the business will be able to find a new long-term owner". Porsche, which had supply contracts with Northvolt, said it had begun searching for alternatives after news of the bankruptcy filing. Volkswagen said it remained in contact with Northvolt but declined to comment further on the bankruptcy. Several shareholders have in recent months written down the value of their Northvolt stakes to zero, while long-time partner Scania said it had lined up a new supply of battery cells. German carmaker BMW cancelled a $2 billion order in June after Northvolt failed to deliver on a long-term contract. LOSS FOR SWEDISH INDUSTRY Co-founder Peter Carlsson, who stepped down as Northvolt CEO shortly after the Chapter 11 filing in November, has said the company needed up to $1.2 billion to restore its business. "What ultimately forced the board to take this decision last night was that it did not see a solution to the short term liquidity need," Carlsson told reporters on Wednesday. Creditors include both private and public investors. The bankruptcy was "a loss for Sweden's industry and social economy, and above all for Skelleftea, Northvolt and its employees," said Jenny Askfelt Ruud, who chairs 4 to 1 Investments which has invested 5.8 billion Swedish crowns ($578 million) in Northvolt shares and convertibles. A court-appointed trustee will oversee the bankruptcy process, which will include the sale of Northvolt's assets and settling its outstanding obligations as far as possible. ($1 = 10.0405 Swedish crowns) Sign in to access your portfolio
Yahoo
12-03-2025
- Automotive
- Yahoo
End of the road for EV battery maker that raised $15 billion from investors including Goldman Sachs and BlackRock
The EV battery maker Northvolt filed for bankruptcy on Wednesday. The Swedish company, founded by two ex-Tesla executives, struggled amid stuttering demand for EVs. It was widely seen as Europe's hope for an EV battery manufacturer to rival Asian automakers. Northvolt, the electric vehicle battery maker founded by two former Tesla executives, has reached the end of the road after failing to secure additional funding. The Swedish company's board announced the bankruptcy on Wednesday, saying that it had "explored all available means to secure a viable financial and operational future for the company." Northvolt said it faced multiple challenges in recent months that undermined its financial position, including growing capital costs and geopolitical instability, resulting in supply chain disruptions and fluctuating demand. Despite support from lenders and filing for Chapter 11 bankruptcy protection in November, the company failed to achieve the financial conditions required to continue operating. A Swedish court-appointed trustee is now set to oversee the sale of the business and its assets. "This is an incredibly difficult day for everyone at Northvolt," Northvolt's interim chair, Tom Johnstone, said in a statement. "We set out to build something groundbreaking — to drive real change in the battery, EV, and wider European industry and accelerate the transition to a green and sustainable future." Northvolt aimed to become Europe's main EV battery manufacturer and counter the dominance of Chinese rivals such as CATL and BYD. It was founded in 2016 by Peter Carlsson and Paolo Cerruti and had raised more than $15 billion from investors including Volkswagen, Goldman Sachs, BlackRock, Baillie Gifford, and the Spotify cofounder Daniel Ek. Northvolt grappled with escalating debts, operational efficiencies, and a reliance on Chinese equipment that hindered its production capabilities. The bankruptcy affects Northvolt AB and its Swedish subsidiaries. Northvolt's German and North American businesses aren't filing for bankruptcy in their respective jurisdictions, though the court-appointed trustee and company lenders are set to determine their future. The collapse has come as European automakers struggle with weak demand for EVs and rising competition from Chinese rivals. Volkswagen, Europe's largest automaker, is considering closing factories in Germany for the first time and cutting tens of thousands of jobs because of weak EV demand and excess capacity. Last week, Mercedes-Benz announced staff buyouts and half-salary reductions to improve earnings following a decline in sales in 2024. Ford, meanwhile, said last November it would cut 4,000 jobs in Europe by the end of 2027. Read the original article on Business Insider Sign in to access your portfolio
