Author: phillytechnews

Tom Paine

Huawei will lay off hundreds of US workers, the Wall Street Journal reported on Sunday. The reductions are expected to be concentrated in Huawei’s R&D outfit, Futurewei Technologies.

The layoffs follow a May 16 Commerce Department decision to put Huawei on its so-called entity list, which blocked companies from supplying U.S.-sourced technology to Huawei without a license. However, it appears possible removal of restrictions is still a bargaining chip in the US / China trade negotiations.

Esther Surden, Editor & Publisher of NJTechWeekly (and contributor to this site), covered the opening of Huawei’s R&D center in Bridgewater, NJ, back in 2012. Huawei pledged to bring 55 (later said to be 90) new jobs to the center, for which it received some state financial support. But that achievement was soon overshadowed by a House Intelligence Committee report written after a yearlong investigation of it and another Chinese firm, ZTE. The report essentially concluded that U.S. companies should think twice about doing business with the Chinese firms.

As a result, Huawei cut back its US efforts, except to maintain some small wireless systems it already had and to continue US-based R&D.

In Philadelphia, Huawei has a small office with around 2o employees, and I believe its primary purpose is to work with Comcast.

Though layoffs have already started, there is no word yet on cuts in these two locations.

Tom Paine

In late June, Radnor-based software PE firm PeakEquity Partners announced the sale of its first investment, EnterpriseDB, to Great Hill Partners. Milestone Partners and NewSpring Capital invested along with Peak in 2014. I wrote about that deal then.

Bedford, MA-based EnterpriseDB is perhaps the leading branded version of the PostgresSQL open source database software. I don’t know the entry and exit prices, but imagine it was a timely buy because PostgresSQL is becoming more mainstream. AWS, which offers its own version of PostgresSQL as do other major Cloud platforms, probably paved the way for broader market adoption in general by providing better hosting options, making it easier for users to “just say no to Oracle”.

After Microsoft itself acquired another PostgresSQL provider, Citus, early this year, an industry consultant who sometimes works with Microsoft was quoted as saying that the only way the Redmond, Wash.-based cloud giant could have made that point [commitment to open source database] clearer would have been by purchasing EnterpriseDB.

PeakEquity said EnterpriseDB triple its annual recurring revenue during Peak’s tenure and lifted its growth rate to 40%.

Anexinet Continues Growth Under New Ownership

Mill Point Capital Accelerates Anexinet’s Momentum in Helping Clients Provide a Complete Digital Experience Email Print Friendly Share June 25, 2019 07:00 ET | Source: Anexinet Corporation

BLUE BELL, Pa., June 25, 2019 (GLOBE NEWSWIRE) — Anexinet, a leading provider of digital business solutions, announced that it has been acquired by Mill Point Capital, a middle-market private equity firm focused on control-oriented investments in North America. The Mill Point team has extensive experience investing in transactions in the technology and business services sectors.

Anexinet’s management team, including CEO Todd Pittman, will continue to lead the company, building on a strong track record of multi-channel application strategy and development, enterprise mobility, and full-lifecycle cloud/hybrid IT infrastructure support. Anexinet is a leading technology consultancy and reseller, helping clients provide a Complete Digital Experience for employees, customers, and end users through transformative digital applications and platforms. For 20 years, Anexinet has delivered intelligent insights, customer engagement and enterprise modernization solutions that drive impactful business outcomes.

Todd Pittman, CEO of Anexinet, commented, “We are thrilled to be partnering with Mill Point given their experience and relationships within the IT solutions industry. I am very proud of what our team has been able to accomplish and look forward to building on the momentum we have created over the past few years.”

Michael Duran, Managing Partner at Mill Point, commented that, “We are very excited to welcome Anexinet to the Mill Point family. Anexinet has grown into a leading specialized reseller in the IT marketplace under the leadership of Todd Pittman and his dedicated and skilled management team. We look forward to working with Todd and his team to further enhance Anexinet’s product and services capabilities.”

About Anexinet Corp. Everyone deserves a great digital experience. Anexinet customers benefit from our holistic approach—from engaging front-end interactions to dependable back-end solutions, all informed by data-driven insights. Because truly great digital experiences rely on the smooth operation of all interconnected elements: beautiful front-end applications, modern distributed architecture, private/public cloud, Dev/Ops and Agile/SAFE processes, and data-driven insights. We call this the Complete Digital Experience. Some companies focus on application design. Others handle your infrastructure. And then there’s Anexinet. For more information, please visit www.anexinet.com.

About Mill Point Capital Mill Point Capital is a middle-market private equity firm focused on control-oriented investments in the business services and industrial sectors. The firm works with Executive Partners to leverage its investment professionals’ experience, while providing strategic and operational guidance designed to drive long-term value creation in its portfolio companies. Mill Point is based in New York, NY. For more information, please visit www.millpoint.com. For more information, contact: Betsey Rogers Public Relations BridgeView Marketing 603-821-0809 betsey@bridgeviewmarketing.com Related Articles More articles issued by Anexinet Corporation More articles related to: Company Announcement Profile Anexinet Corporation Subscribe via RSS Subscribe via ATOM Javascript Blue Bell, Pennsylvania, UNITED STATES Media Files Anexinet logo.png Logo Download Options Anexinet logo.png LOGO URL | Copy the link below http://www.globenewswire.com/attachment-download-view/1873537/610503/4/1/0/610503.png Newswire Distribution Network & Management Home Newsroom RSS Feeds Legal About Us GlobeNewswire is one of the world’s largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public. © 2019 GlobeNewswire, Inc. All Rights Reserved.

The future of customer service in the spotlight with Guru CEO Rick Nucci https://t.co/TS1dfdGtBi— July 3, 2019

Diginomics, which goes in-depth on enterprise software, looks at what Guru is really about
“The field of customer service is a crucible of technology-driven change right now, and Guru is a company at the nexus of several of these trends. “

Walmart’s eCommerce biz is running a $ billion + annual loss. Is it Penn grad Marc Lore’s fault, or is Lore the victim of internal politics? Both perspectives:

Lore’s position getting difficult ?
Walmart’s e-commerce biz is reportedly racking up $1 billion in losses and that’s only one problem it has https://t.co/QoGu4eXpIF— July 3, 2019

Sources: Walmart is projecting losses of $1B+ for its US e-commerce division this year; e-commerce CEO Marc Lore is exhausted by internal politics (Jason Del Rey/Vox) https://t.co/x1tzzLhY4F #mustreadblogs #feedly
— July 3, 2019

If they do a remake of “The Office”, as rumored, they must include this character: Ex-Scranton mayor pleads guilty; details of ongoing undercover investigation revealed https://t.co/GvOeMRZh35 Biden should be angry at what this guy has done to his native town July 3, 2019

WeWork isn’t even close to being profitable — it loses $219,000 every hour of every day https://t.co/kdL7UyLiDd via @businessinsider
— July 3, 2019

Questions I share. Perhaps why SoftBank turned a could shoulder towards it.

Amazon is a deft buyer of companies, but increased government scrutiny of large tech companies could complicate matters https://t.co/zDDHJtvWJb via @WSJ— July 4, 2019

to date, Amazon has only made one huge acquisition, and that was mostly non-horizontal. What’s the big problem?

When MLB was putting together a bid for the Fox Sports-branded RSNs, it approached AT&T, Charter and Comcast with an idea to combine the RSNs and let MLB manage the group. Comcast said no. AT&T agreed. SBJ Media Newsletter:🔒 https://t.co/FqFE2g2fsl🔒 pic.twitter.com/lRqgUmbfpr— John Ourand (@Ourand_SBJ) July 4, 2019

Univision seeks sale, but #Comcast‘s Telemundo has cut into its audience https://t.co/p1t09GcoKy via @WSJ— July 5, 2019

Tom Paine

NextGen Healthcare Information Systems is cutting some 150 employees, the Orange County (CA) Register reported, “as part of an operational realignment.”

NextGen (NSDAQ:  NXGN), specializing in systems for electronic health records and based in Orange County, recently changed its corporate name from Quality Systems, to reflect its largest operating unit of the same name:. NextGen Healthcare is based in Horsham. But where the layoffs occurred was not specified. NextGen has over 2600 employees, of whom about 560 are based in Horsham, according to Linkedin.

NextGen, which reported $529 million in revenue in the fiscal year ended 3/31/19, has had negligible revenue growth over the past few years. This followed a period of high growth while heavy federal incentives for adopting EHR systems were in play.

NextGen’s market cap is $1.3 biillion

Some analysts are looking for a renewed growth period for the sector, which also includes privately held giant Epic Systems and Cerner, which has significant operations in Malvern (see Baron’s article).