Companies news of 2017-11-20 (page 1)

Warburg Pincus Commences Cash Tender Offer for Ordinary Shares of Cyren Ltd.

NEW YORK and TEL AVIV, Israel, Nov. 21, 2017 /PRNewswire/ -- Warburg Pincus, a global private equity firm focused on growth investing, announced today that WP XII Investments B.V., an entity controlled by funds affiliated with Warburg Pincus (the "Purchaser"), has commenced a cash tender offer to purchase up to 31,265,358 million ordinary shares ("Cyren shares") of Cyren Ltd., a global Internet Security-as-a-Service provider ("Cyren") (NASDAQ: CYRN), for $2.50 per share. If more than the maximum number of Cyren shares offered to be purchased in the tender offer are tendered, the Purchaser will purchase Cyren shares on a pro rata basis.

Pursuant to the Securities Purchase Agreement, dated as of November 6, 2017, by and between Cyren and the Purchaser, (a) the Purchaser undertook to make a public "special tender offer" pursuant to Israeli Law for up to a maximum of 75% of Cyren's shares on a partially diluted basis (assuming the exercise of "in-the-money" options and conversion of Cyren's convertible notes) and (b) Cyren's board of directors resolved to recommend in favor of shareholders tendering their Cyren shares in such special tender offer, subject to the terms of such agreement. If the special tender is successful, under Israeli law, Warburg Pincus will be prohibited from launching another special tender offer for 12 months.

The Purchaser owns approximately 21.3% of outstanding Cyren shares, following its previously announced purchase of approximately 10.6 million Cyren shares for $1.85 per share pursuant to the Securities Purchase Agreement. If Cyren purchases 31,265,358 million Cyren shares in the tender offer, the Purchaser will own approximately 75% of outstanding Cyren shares on a partially diluted basis.

On November 6, 2017, the last trading day before Warburg Pincus announced its intention to launch the tender offer, the closing sale price of Cyren shares was $1.65 on Nasdaq and NIS 5.998 on the Tel Aviv Stock Exchange ($1.71 based on an exchange rate of NIS 3.513 per United States dollar as of November 6, 2017).

The initial offer period of the tender offer and withdrawal rights is scheduled to expire at 10:00 a.m., New York time, or 5:00 p.m., Israel time, on December 19, 2017, unless the initial offer period is extended by the Purchaser. As required by Israeli law, if the conditions to the offer are satisfied or, subject to applicable law, waived by the Purchaser, as of the completion of the initial offer period, the Purchaser will provide an additional offer period during which shareholders may tender their Cyren shares, which additional offer period will expire at 10:00 a.m., New York time, or 5:00 p.m., Israel time, on December 24, 2017, unless the offer period is extended by the Purchaser. However, shareholders will have no withdrawal rights during such additional offer period.

The tender offer is conditioned upon: (1) Cyren shares representing at least 5.0% of the issued and outstanding shares and voting power of Cyren having been validly tendered and not properly withdrawn prior to the completion of the initial offer period, (2) in accordance with Israeli law, at the completion of the initial offer period, the aggregate number of Cyren shares validly tendered and not properly withdrawn is greater than the aggregate number of Cyren shares represented by notices of objection to the consummation of the offer, (3) the German Federal Cartel Office has approved the purchase of the Cyren shares tendered in response to the offer, or the purchase is deemed approved because the applicable waiting periods have expired by no later than one Israeli business day prior to the final expiration date, (4) 5,411,117 Cyren shares having been validly tendered and not properly withdrawn prior to the completion of the initial offer period and (5) certain other conditions specified in the Offer to Purchase relating to the tender offer. The tender offer is not conditioned on the receipt of financing or the approval of the board of directors of Cyren.

The complete terms and conditions of the tender offer, including important U.S. and Israeli income and withholding tax considerations relating to the tender offer, are contained in the Offer to Purchase included as an exhibit to the Tender Offer Statement on Schedule TO filed today with the U.S. Securities and Exchange Commission (SEC) and with the Israeli Securities Authority (ISA). American Stock Transfer & Trust Company is the U.S. Depositary for the tender offer and Israel Brokerage & Investments I.B.I. Ltd., with its affiliates, is the Israeli Depositary for the tender offer.

Important Information: This is not an offer to buy or the solicitation of an offer to sell any Cyren shares. The tender offer that is described in this press release will only be made through the Offer to Purchase, Letter of Transmittal and related tender offer documents. All shareholders of Cyren should read the tender offer materials which are being filed today by Warburg Pincus. Shareholders of Cyren should read the tender offer materials because they contain important information about the tender offer. The tender offer materials and other filed documents will be available at no charge on the SEC's website at and on the ISA's website at, and will also be made available without charge to all shareholders by contacting D.F. King & Co., Inc., the information agent for the tender offer, at (212) 269-5550, toll free (800)499-8159 or e-mail ( Shareholders are urged to read these materials carefully before making any decision with respect to the tender offer.

Forward-Looking Statements: This press release contains forward-looking statements, including projections about the company's business. For example, statements in the future tense, and statements including words such as "expect," "plan," "estimate," "anticipate," or "believe" are forward-looking statements. These statements are based on information available at the time of the press release and the company assumes no obligation to update any of them (except as required by law). The statements in this press release are not guarantees of future performance and actual results could differ materially from current expectations as a result of numerous factors, including uncertainties as to the ability to successfully complete the offer in accordance with its terms and in accordance with expected schedule, the possibility that various closing conditions for the acquisition may not be satisfied or waived, or that a governmental entity may prohibit or refuse to grant any approval required for the consummation of the offer, business conditions and growth or deterioration in the internet security market, technological developments, products offered by competitors, availability of qualified staff, and technological difficulties and resource constraints encountered in developing new products.

About Warburg Pincus: Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than US$44 billion in private equity assets under management. The firm's active portfolio of more than 150 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 16 private equity funds, which have invested more than US$60 billion in over 800 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit

Warburg Pincus Contact:
Mary Zimmerman

Big Wind Capital Inc: Hill Top Security Joined by Famed Hacker, Security Analyst and Tactician, Pete Herzog

KELOWNA, British Columbia, November 20, 2017 /PRNewswire/ --

Big Wind Capital Inc., ("Big Wind" or the "Company") (CSE: BWC) (OTC: BGGWF) and Hill Top Security Inc ("Hill Top") are pleased to announce that Pete Herzog, the internationally-recognized hacker, cybersecurity analyst and tactician has joined Hill Top as a consultant.  Mr. Herzog is one of the world's foremost thought-leaders in cybersecurity and has strong connections throughout the cybersecurity and blockchain industries. He founded the renowned Hacker Highschool (now sponsored by IBM), co-founded the ISECOM cybersecurity research organization and has authored and co-authored books, manuals and articles to help small and medium-sized businesses create better security. Mr. Herzog will be working with Hill Top to enhance the company's cybersecurity and cryptocurrency products. Hill Top recently signed a letter of intent with Big Wind, pursuant to which Big Wind intends to acquire various interests in HTSI and its assets (the "Transaction").

Corby Marshall, CEO of Hill Top Security, said, "The addition of Pete Herzog to the Hill Top team is a huge win for us. He is one of the foremost experts in cybersecurity and blockchain, he is extremely well-connected throughout the industry and specializes in analysing and enhancing cutting edge cybersecurity technology. Our military-grade and patented cybersecurity platform has been very well received by the market, based on feedback received from our new partner, GuardSight, and we are excited by the potential of our future cryptocurrency products. Adding Pete Herzog to our team will help us to build on our unique, competitive advantages."

Pete Herzog, cybersecurity analyst and tactician, commented, "To succeed in today's cybersecurity landscape, cyberprotection has to move away from a reactive approach, towards predictive defense, such as risk scoring malicious intentions. With its advanced technology, Hill Top's cybersecurity platform and upcoming blockchain products are ahead of the curve, which is critical, because this is a very fast-moving sector in which innovation is the key to success.  Hill Top has developed something special and, even more importantly, it has the team and roadmap in place to stay ahead of the field. I'm looking forward to working with them and I'm excited by what the future holds for the company."

Pete Herzog - Career Highlights 

  • Founded Hacker Highschool - the first cybersafety and cybersecurity awareness program for teens. IBM sponsored a Hacker Highschool lesson called Hacking Defense to help address the estimated 1.8 million cybersecurity worker shortage[1]
  • Co-founded non-profit security research organization - the Institute for Security and Open Methodologies (ISECOM) with Marta Barceló which has been consistently 10 to 15 years ahead of the security industry in research.
  • Officially commended by InfoWorld magazine and for contributions to cybersecurity
  • Premiered "Intentification" - a process of determining intent as a means of identifying something as malicious before an attack can occur.
  • Created the first security testing methodology ever published, which is known as the Open Source Security Testing Methodology Manual (OSSTMM) and provided it for free to the public. It is now an international standard downloaded 300,000 times a month.
  • Released unbiased trust metrics within the 3rd version of the OSSTMM, allowing companies to add a "gut instinct" of trust to computer decisions by providing a logical alternative to that emotional response.
  • Co-created the Open Source Cybersecurity Playbook to help small and medium-sized companies build better security with this well-designed, easy-to-understand how-to manual.

[1] 2017 Global Information Security Workforce Study, Frost & Sullivan and (ISC)

Forward-Looking Information  

Certain statements included in this news release constitute forward-looking information or statements (collectively, "forward-looking statements"), including those identified by the expressions "anticipate", "believe", "plan", "estimate", "expect", "intend", "may", "should" and similar expressions to the extent they relate to the Company or its management or the negative thereof or similar variations. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. 

All information in this news release concerning HTSI has been provided for inclusion herein by HTSI. Although the Company has no knowledge that would indicate that any information contained herein concerning HTSI is untrue or incomplete, the Company assumes no responsibility for the accuracy or completeness of any such information 

Investors are cautioned that, except as disclosed in the listing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon.


For further information, please contact:  
Big Wind Capital Inc.
Richard Matthews

WANdisco Announces New Release of Fusion for Improved Product Performance

SAN RAMON, California, November 20, 2017 /PRNewswire/ --

WANdisco (LSE: WAND), the world leader in Active Data Replication?, is pleased to announce the release of WANdisco Fusion® 2.11. WANdisco Fusion®2.11 includes substantial performance improvements to the Fusion core replication engine, Fusion Kernel, resulting in flexible installation processes for users as well as significant product performance benefits.

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With WANdisco Fusion 2.11 users can install Fusion plugins independently of the Fusion platform to improve core functionality. In addition, users can expect 40% to 75% improved throughput and reduced memory requirements.

Other improvements in Fusion 2.11 include:

Plugins: New Fusion plugins for Hive replication and scripting are now available in beta form to augment core functionality. Add other plugins to Fusion 2.11 deployments without the need to re-install.

Business continuity: Fusion can continue to operate during periods of extended network outage by using local storage in addition to memory.

Non-blocking consistency check: Perform consistency state checks without blocking other cluster activity, and scheduled them for specific start times.

Replication memberships: Simplify system administration by creating replication rules without the need to specify memberships in advance.

Bulk replication rules: Create multiple replication rules at the same time when they share attributes other than file system location.

David Richards, Co-founder and CEO of WANdisco said:

"The release of WANdisco Fusion®2.11 enables our customers to have more flexibility in the way they use our Fusion technology while getting the most out of their hardware. With the release of additional plug-ins, Fusion addresses new use cases, including deployments between data centers and cloud storage so our customers can continue to get the most value from their data."

About WANdisco 

WANdisco is the world leader in Active Data Replication?. Its patented WANdisco Fusion technology enables the replication of continuously changing data to the cloud and on-premises data centers with guaranteed consistency, no downtime and no business disruption. It also allows distributed development teams to collaborate as if they are all working in one location. WANdisco has an OEM with IBM and Dell EMC as well as partnerships with Amazon Web Services, Cisco, Google Cloud, Hewlett Packard Enterprise, Microsoft Azure, and Oracle to resell its patented technology. WANdisco also works directly with Fortune 1000 companies around the world to ensure their data can give them the real insight they need.

For additional information, please visit

Thanks to Wirecard, Munich Airport's Retail Subsidiary Eurotrade will be Germany's First WeChat Pay Provider

MUNICH, November 20, 2017 /PRNewswire/ --

  • eurotrade Flughafen München Handels-GmbH will gain access to over 600 million active WeChat Pay users 
  • Sales figures back up the trend of offering payment methods for Chinese tourists  

Wirecard, the international technology company, is expanding its collaboration with eurotrade Flughafen München Handels-GmbH, a subsidiary of Flughafen München GmbH, in point-of-sale (POS) payment processing in order to offer WeChat Pay at the Munich airport. As a wholly owned retail subsidiary of Flughafen München GmbH, eurotrade operates some 70 shops at Munich's airport. The premium brand portfolio is also targeted towards Chinese customers. This target group is increasingly gaining in importance. To cater to their needs, eurotrade will now become the first supplier in Germany to accept WeChat Pay after successfully integrating Alipay into its till systems in July 2016.

WeChat Pay has over 600 million active users per month and is part of the Chinese company Tencent, which ranks among the top five internet companies worldwide. WeChat Pay has a market share of almost 40% in terms of payment volume and around 53% for mobile payment transactions in China. With the launch of WeChat Pay, eurotrade Flughafen München Handels-GmbH will appeal to a wide target group.

More than two million Chinese tourists travel to Germany annually and shop for renowned luxury brands. In 2015 alone, Chinese tourists spent USD 292 billion in foreign countries. The eurotrade Flughafen München Handels-GmbH can confirm that most of this spending is for shopping. The company has already seen positive results after introducing Alipay: In the first three months since the launch of the new payment method, the average amount spent by Chinese tourists in eurotrade stores has increased by 92%. Furthermore, since then visitors from China have spent around 280% more than average consumers in duty free shops.

Sven Zahn, Managing Director of eurotrade Flughafen München Handels-GmbH: "It was pretty easy to make the decision to also offer WeChat Pay as a new payment method because of the excellent results we've seen with Alipay. In addition Chinese visitors plan their trips to Europe, including shopping lists, far in advance. This is why it is important for us to also use the marketing platforms that mobile payment apps offer us. Following Alipay, the adoption of WeChat Pay highlight our commitment to offering a holistic payment service for international visitors in general and for Chinese visitors more specifically."

Christian Reindl, Executive Vice President Sales Consumer Goods at Wirecard, adds: "As the first WeChat Pay partner for POS acceptance in Europe, we are proud to be expanding our collaboration with eurotrade Flughafen München Handels-GmbH. Thanks to our flexible payment platform, we have been able to achieve this quickly and easily."

Chinese visitors who want to make mobile cashless payments with WeChat Pay need to follow three simple steps: The user opens the WeChat or Weixin app and selects the item from the wallet feature. This creates a QR code. The retailer scans this code to initiate the payment process. Meanwhile, Wirecard assumes payment acceptance and handles all processing.

About Wirecard:  

Wirecard AG is a global technology group that supports companies in accepting electronic payments from all sales channels. As a leading independent supplier, the Wirecard Group offers outsourcing and white label solutions for electronic payments. A global platform bundles international payment acceptances and methods with supplementary fraud prevention solutions. With regard to issuing own payment instruments in the form of cards or mobile payment solutions, the Wirecard Group provides companies with an end-to-end infrastructure, including the requisite licences for card and account products. Wirecard AG is listed on the Frankfurt Securities Exchange (TecDAX, ISIN DE0007472060, WDI). For further information about Wirecard, please visit or follow us on Twitter @wirecard.

About Munich Airport (  

Flughafen München GmbH (FMG) was established in 1949 and operates Munich airport, which was opened in its current location on 17 May 1992. The Free State of Bavaria (51%), the Federal Republic of Germany (26%) and the city of Munich, State Capital of Bavaria (23%) are FMG's shareholders. Across the group, FMG employs over 9,000 staff in 15 subsidiaries. Munich airport is one of the biggest employers in Bavaria, with around 35,000 employees at 550 companies. Within a few years of commencing operations, Munich airport has become a significant air traffic hub and has firmly established itself as one of the top ten airports in terms of highest traffic. Today, Munich airport offers connecting flights to over 250 destinations worldwide. In 2016, around 400,000 flights with over 42 million passengers were recorded. Munich was the first and remains the only European airport to be awarded the "5-Star Airport" rating by London-based aviation institute Skytrax. (Hashtag: #MPresse)

About eurotrade Flughafen München Handels-GmbH: 

eurotrade Flughafen München Handels GmbH was founded in 1973 and is a wholly-owned subsidiary of Flughafen München GmbH (FMG). With around 1,200 employees, eurotrade operates approximately 70 retail shops at Munich Airport, which amounts to 13,586 square metres, as well as one duty free shop in Friedrichshafen. eurotrade sets itself apart through exceptional retail expertise in four areas, which include 22 duty free shops, 16 fashion stores, 15 press, travel and souvenir retailers including household products, and 11 watch and jewellery specialists. In proprietary and franchise concepts, eurotrade offers passengers high quality and regional products from both national and international brands, with individual shop concepts that truly shape the experience and world of shopping at Munich Airport.

Wirecard media contact:

Wirecard AG
Jana Tilz
Tel.: +49(0)89-4424-1363

eurotrade Flughafen München Handels-GmbH media contact:

eurotrade Flughafen München Handels-GmbH
Stefan Koenen
Tel.: +49(0)89-975-93608

CenturyLink deploys AWS Direct Connect along the Las Vegas strip to power AWS re:Invent 2017

Company named the official AWS Networking Sponsor for annual show

MONROE, Louisiana, Nov. 20, 2017 /PRNewswire/ -- CenturyLink, Inc. (NYSE: CTL) will provide direct cloud connectivity to AWS re:Invent 2017.

Infographic: What's driving digital transformation

CenturyLink delivers private and secure network connectivity to Amazon Web Services (AWS) for global enterprises to manage and protect their cloud-based business applications. CenturyLink is an Advanced Consulting Partner in the AWS Partner Network (APN).

"With any enterprise cloud networking solution, resilience, redundancy and bandwidth are paramount. That's no less the case with a show of this magnitude. Between thousands of keynotes, live streams and breakouts, connectivity to AWS services is vital to the show's success," said Chris McReynolds, CenturyLink's vice president of cloud and data product management. "Accomplishing this takes more than a bunch of 10 gig waves interconnecting venues; it takes experience and understanding to see the requirements and develop a solution that meets them," said McReynolds.

AWS re:Invent 2017 will be held Nov. 27 ? Dec. 1 in Las Vegas.

Key Facts:

  • Design requirements for AWS re:Invent 2017 include the following elements:
    • A high-quality experience for more than 40,000 on-site attendees and more than 50,000 live-streaming viewers.
    • The interconnection of five Las Vegas venues with more than 1.4 million square feet of event space.
    • Diverse routing to multiple AWS regions and private connections to the AWS network.
  • All keynotes, live streams, breakout sessions, hands-on labs, bootcamps, hackathons, workshops, certification exams and more will be delivered by CenturyLink Cloud Connect Solutions.
  • This is the fourth year in a row CenturyLink, through its acquisition of Level 3, will provide private, dedicated network connectivity in support of re:Invent.
  • Global enterprises leverage CenturyLink Cloud Connect Solutions for secure, high-performing and flexible network resources with SDN-based scalable bandwidth options and granular network visibility to match the needs of the business.

Additional Resources:

CenturyLink acquired Level 3 Communications on Nov. 1, 2017. Visit to learn more about the new CenturyLink.

About CenturyLink

CenturyLink (NYSE: CTL) is the second largest U.S. communications provider to global enterprise customers. With customers in more than 60 countries and an intense focus on the customer experience, CenturyLink strives to be the world's best networking company by solving customers' increased demand for reliable and secure connections. The company also serves as its customers' trusted partner, helping them manage increased network and IT complexity and providing managed network and cyber security solutions that help protect their business.

Forward Looking Statements

Except for historical and factual information, the matters set forth in this release and other of our oral or written statements identified by words such as "estimates," "expects," "anticipates," "believes," "plans," "intends," and similar expressions are forward-looking statements as defined by the federal securities laws, and are subject to the "safe harbor" protections thereunder. These forward-looking statements are not guarantees of future results and are based on current expectations only, are inherently speculative, and are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Actual events and results may differ materially from those anticipated, estimated, projected, or implied by us if one or more of these risks or uncertainties materialize, or if our underlying assumptions prove incorrect. Factors that could affect actual results include but are not limited to: the effects of competition from a wide variety of competitive providers, including decreased demand for our legacy offerings and increased pricing pressures; the effects of new, emerging or competing technologies, including those that could make our products less desirable or obsolete; the effects of ongoing changes in the regulation of the communications industry, including the outcome of regulatory or judicial proceedings relating to intercarrier compensation, interconnection obligations, access charges, universal service, broadband deployment, data protection and net neutrality; our ability to timely realize the anticipated benefits of our recently-completed acquisition of Level 3, including our ability to attain anticipated cost savings, to use Level 3's net operating losses in the amounts projected, to retain key personnel and to avoid unanticipated integration disruptions; our ability to effectively adjust to changes in the communications industry and changes in the composition of our markets and product mix; possible changes in the demand for our products and services, including our ability to effectively respond to increased demand for high-speed broadband service; our ability to successfully maintain the quality and profitability of our existing product and service offerings, to provision them efficiently to our customers, and to introduce new offerings on a timely and cost-effective basis; the adverse impact on our business and network from possible equipment failures, service outages, security breaches or similar events impacting our network; our ability to generate cash flows sufficient to fund our financial commitments and objectives, including our debt repayments, capital expenditures, operating costs, periodic share repurchases, dividends, pension contributions and other benefits payments; changes in our operating plans, corporate strategies, dividend payment plans or other capital allocation plans, whether based upon changes in our cash flows, cash requirements, financial performance, financial position, market conditions or otherwise; our ability to effectively retain and hire key personnel and to successfully negotiate collective bargaining agreements on reasonable terms without work stoppages; increases in the costs of our pension, health, post-employment or other benefits, including those caused by changes in markets, interest rates, mortality rates, demographics or regulations; adverse changes in our access to credit markets on favorable terms, whether caused by changes in our financial position, lower debt credit ratings, unstable markets or otherwise; our ability to maintain favorable relations with our key business partners, customers, suppliers, vendors, landlords and financial institutions; our ability to effectively manage our network buildout project and our other expansion opportunities; our ability to collect our receivables from financially troubled customers; any adverse developments in legal or regulatory proceedings involving us; changes in tax, communications, pension, healthcare or other laws or regulations, in governmental support programs, or in general government funding levels; the effects of changes in accounting policies or practices, including potential future impairment charges; the effects of terrorism, adverse weather or other natural or man-made disasters; the effects of more general factors such as changes in interest rates, in operating costs, in general market, labor, economic or geo-political conditions, or in public policy; and other risks referenced from time to time in our filings with the U.S. Securities and Exchange Commission (the "SEC"). For all the reasons set forth above and in our SEC filings, you are cautioned not to place undue reliance upon any of our forward-looking statements, which speak only as of the date made. We undertake no obligation to publicly update or revise any of our forward-looking statements for any reason, whether as a result of new information, future events or developments, changed circumstances, or otherwise. Furthermore, any information about our intentions contained in any of our forward-looking statements reflects our intentions as of the date of such forward-looking statement, and is based upon, among other things, existing regulatory, technological, industry, competitive, economic and market conditions, and our assumptions as of such date. We may change our intentions, strategies or plans without notice at any time and for any reason.

Media contact:
Stephanie Walkenshaw 
+1 720-888-3084  

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