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INVNT Appoints Director of Business Development in EMEA To Support Brands as In-Person Experiences Return

LONDON, UK, May 18, 2021 (GLOBE NEWSWIRE) — INVNT. The global live brand storytelling agency has appointed Peter Clarke as Director of Business Development. Clarke joins from Smyle Creative, where he held the role of Client Relationships Manager for six years, and prior to that, was the Head of Business Development and Marketing at Pumphouse Productions.

Throughout his 30–year career Clarke has successfully developed and maintained meaningful relationships with brands including BT, EE, Diageo, Thomas Cook TUI, and Rolls Royce. This is thanks to his strategic and pro–active approach, which ensures the delivery of personalised, results–driven campaigns for clients across a range of sectors.

With 11 years' specialist experience in the event and experiential industries across EMEA, Clarke brings an in–depth understanding of "" and passion for "" the ever–evolving hybrid, virtual and in–person event landscape to the role. He has helped clients achieve their goals across large–scale in–person conferences, exclusive VIP experiences, award–winning virtual events, and more.

Based in the UK, Clarke's remit spans the entire EMEA region, and he will form an important part of the agency's fast–growing global sales team.

This latest appointment "" and INVNT's continued growth "" has been prompted by the success of recent projects "" which have been recognised at awards such as the Virtual Events Institute's (VEI) Virtual & Hybrid Event Awards "" and ongoing work with brands including Samsung, SAP, PepsiCo, Merck MSD, Microsoft and Pfizer.

Claudia Stephenson, Managing Director, INVNT EMEA said: “Given the momentum we've experienced in EMEA in recent months, it's evident that brands here are interested in our unique thinking and approach. They know that boundary pushing creativity and a commitment to challenging the status quo are essential to engaging virtually fatigued viewers, and we're perfectly placed to develop strategic solutions that help them create meaningful connections with their audiences.

“Now as we emerge from the pandemic, Peter will play a pivotal role in ensuring we continue to deliver on clients' expectations in a post–pandemic world. Leaning on his combined business development and strategic marketing experience, he will challenge clients to re–think and re–position their brand and offering, connect them with their most important audiences, and drive ROI. We're so excited to have him on board!”

Scott Kerr, Chief Sales Officer of INVNT's parent company, [INVNT GROUP] explained: “With more and more brands seeking interconnected global campaign solutions, Peter will help us to create seamless synergies for our clients across borders, while also ensuring regional executions account for the unique nuances of local markets.

“Peter's extensive knowledge of not only events but the wider marketing sector makes him perfectly equipped to share our GROUP portfolio offering "" which includes brand strategy, culture consulting, and branded content "" with clients, resulting in greater ROI for their businesses. Our global sales team has experienced immense growth over the last 12 months, and we're looking forward to having Peter join us on our continued journey to success.”

Clarke added: “I'm thrilled to be joining INVNT EMEA and their global sales team during this rapid phase of growth for the agency both in the region and around the world, as we enter a promising new era for the events industry. We're all aware of the power and potency of face–to–face experiences, and I'm looking forward to working with the company's creative minds to develop hyper–personalised hybrid and in–person event and marketing campaigns for brands and organisations in the region.”

###

About INVNT
Founded in 2008 by Scott Cullather and Kristina McCoobery, INVNT uses the craft of live brand storytelling to create and produce live experiences that excite and unite physical and virtual audiences, globally. The company's "challenge everything' positioning statement helps clients including General Motors, Grant Thornton, Merck, PepsiCo and Samsung share their stories with every audience that matters. Part of [INVNT GROUP], THE GLOBAL BRANDSTORY PROJECT, INVNT's offices are strategically located in New York "" where its INVNT Higher Ed division is also based "" London, Sydney, Detroit, San Francisco, Washington D.C., Stockholm and Singapore. For more information visit www.invnt.com

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GLOBENEWSWIRE (Distribution ID 8238466)

Bombardier Announces Further Deleveraging Actions with Full Repayment of its 6⅛% Senior Notes Due 2021

MONTRÉAL, May 17, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) today announced that, as part of its plan to enhance profitability and deleverage its balance sheet, it has completed the repayment in full and complete discharge of its 6% Senior Notes due May 15, 2021 utilizing its available liquidities. The payout was in the amount of EUR 426,663,291 covering the outstanding principal amount as well as accrued interest.

During its March 4, 2021 Investor Day, Bombardier outlined its five–year plan based on four strategic priorities: maturing the flagship Global 7500 aircraft program, increasing productivity and profitability, growth of the aftermarket business and reshaping and strengthening its balance sheet.

"We have taken decisive action to deliver on our commitment of de–leveraging Bombardier's balance sheet on our path to becoming a more profitable company," said ric Martel, President and CEO, Bombardier. "In March, we presented a holistic plan to re–shape Bombardier and, in the short period of time since, we have made significant progress. Backed by solid first quarter results, executing our strategy predictably is our key focus and is designed to position Bombardier to realize its full potential, enhance value for customers and shareholders, all while maintaining a keen focus on employee engagement and sustainability efforts within our operations, product families and the community."

About Bombardier

Bombardier is a global leader in aviation, creating innovative and game–changing planes. Our products and services provide world–class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montral, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of more than 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier, Global and Global 7500 are trademarks of Bombardier Inc. or its subsidiaries.

For information

Francis Richer de La Flche
Vice President, Financial Planning
and Investor Relations
Bombardier
+514 855 5001 x13228		 Mark Masluch
Senior Director, Communications
Bombardier
+514 855 7167

FORWARD–LOOKING STATEMENTS

This press release includes forward–looking statements, which may involve, but are not limited to: statements with respect to our objectives, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contribution thereto, targets, goals, priorities, market and strategies, financial position, financial performance, market position, capabilities, competitive strengths, credit ratings, beliefs, prospects, plans, expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry; customer value; expected demand for products and services; growth strategy; product development, including projected design, characteristics, capacity or performance; expected or scheduled entry–into–service of products and services, orders, deliveries, testing, lead times, certifications and execution of orders in general; competitive position; expectations regarding revenue and backlog mix; the expected impact of the legislative and regulatory environment and legal proceedings; strength of capital profile and balance sheet, creditworthiness, available liquidities and capital resources, expected financial requirements, and ongoing review of strategic and financial alternatives; the introduction of, productivity enhancements, operational efficiencies, cost reduction and restructuring initiatives, and anticipated costs, intended benefits and timing thereof; the anticipated business transition to growth cycle and cash generation; expectations, objectives and strategies regarding debt repayment, refinancing of maturities and interest cost reduction; expectations regarding availability of government assistance programs, compliance with restrictive debt covenants; expectations regarding the declaration and payment of dividends on our preferred shares; intentions and objectives for our programs, assets and operations; and the impact of the COVID–19 pandemic on the foregoing and the effectiveness of plans and measures we have implemented in response thereto; and expectations regarding gradual market and economic recovery in the aftermath of the COVID–19 pandemic. As it relates to the sale of the Transportation business to Alstom, this press release also contains forward–looking statements with respect to the benefits of such transaction, the use of the proceeds derived from the transaction and its impact on our outlook, guidance and targets, operations, infrastructure, opportunities, financial condition, business plan and overall strategy.

Forward–looking statements can generally be identified by the use of forward–looking terminology such as "may", "will", "shall", "can", "expect", "estimate", "intend", "anticipate", "plan", "foresee", "believe", "continue", "maintain" or "align", the negative of these terms, variations of them or similar terminology. Forward–looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of our current objectives, strategic priorities, expectations, outlook and plans, and in obtaining a better understanding of our business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

By their nature, forward–looking statements require management to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecast results set forth in forward–looking statements. While management considers these assumptions to be reasonable and appropriate based on information currently available, there is risk that they may not be accurate. The assumptions underlying the forward–looking statements made in this press release include the following material assumptions: the deployment of the proceeds from the sale of the Transportation business to Alstom on terms allowing the Corporation, when combined to other financing sources and free cash flow generation, to repay or otherwise manage its various maturities for the next three years; growth of the business aviation market and increase of the Corporation's share of such market; proper identification of recurring cost savings and executing on our cost reduction plan; optimization of our real estate portfolio, including through the sale or other transaction in respect of real estate assets on favorable terms; and access to working capital facilities on market terms. For additional information, including with respect to other assumptions underlying the forward–looking statements made in this press release, refer to the Forward–looking statements "" Assumptions section in the Management's Discussion & Analysis of our financial report for the fiscal year ended December 31, 2020 (the "MD&A") which may be viewed on SEDAR at www.sedar.com. Given the impact of the changing circumstances surrounding the COVID–19 pandemic and the related response from the Corporation, governments (federal, provincial and municipal), regulatory authorities, businesses, suppliers, customers, counterparties and third–party service providers, there is inherently more uncertainty associated with the Corporation's assumptions as compared to prior years.

Certain factors that could cause actual results to differ materially from those anticipated in the forward–looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with the financial condition of business aircraft customers; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business ; order backlog; the transition to a pure–play business aviation company; the certification of products and services; the execution of orders; pressures on cash flows and capital expenditures based on seasonality and cyclicality; execution of our strategy, productivity enhancements, operational efficiencies, restructuring and cost reduction initiatives; doing business with partners; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial debt and interest payment requirements; restrictive debt covenants; reliance on debt management and interest cost reduction strategies; and reliance on government support), market risks (such as foreign currency fluctuations; changing interest rates; increases in commodity prices; and inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A which may be viewed on SEDAR at www.sedar.com. Any one or more of the foregoing factors may be exacerbated by the ongoing COVID–19 outbreak and may have a significantly more severe impact on the Corporation's business, results of operations and financial condition than in the absence of such outbreak. As a result of the current COVID–19 pandemic, additional factors that could cause actual results to differ materially from those anticipated in the forward–looking statements include, but are not limited to: risks related to the impact and effects of the COVID–19 pandemic on economic conditions and financial markets and the resulting impact on our business, operations, capital resources, liquidity, financial condition, margins, prospects and results; uncertainty regarding the magnitude and length of economic disruption as a result of the COVID–19 outbreak and the resulting effects on the demand environment for our products and services; uncertainty regarding market and economic recovery in the aftermath of the COVID–19 pandemic; emergency measures and restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions; disruptions to global supply chain, customers, workforce, counterparties and third–party service providers; further disruptions to operations, orders and deliveries; technology, privacy, cyber security and reputational risks; and other unforeseen adverse events.

Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and undue reliance should not be placed on forward–looking statements. Other risks and uncertainties not presently known to us or that we presently believe are not material could also cause actual results or events to differ materially from those expressed or implied in our forward–looking statements. The forward–looking statements set forth herein reflect management's expectations as at the date of this press release and are subject to change after such date. Unless otherwise required by applicable securities laws, we expressly disclaim any intention, and assume no obligation to update or revise any forward–looking statements, whether as a result of new information, future events or otherwise. The forward–looking statements contained in this press release are expressly qualified by this cautionary statement.


GLOBENEWSWIRE (Distribution ID 8237653)

PRA Health Sciences pioneers connecting clinical trial patients with their real-world data with Synoma

RALEIGH, N.C., May 13, 2021 (GLOBE NEWSWIRE) — PRA Health Sciences, Inc. (NASDAQ: PRAH) announced today an innovative tokenization solution using Synoma , PRA's proprietary technology that allows for the generation of enhanced evidence for drug development. PRA's solution makes it possible to connect clinical trial data and secondary data sets with privacy at the forefront. Today, three large pharmaceutical companies, along with several other pharmaceutical and biotech companies of all sizes, are using Synoma to link data and conduct analyses across their drug development portfolios.

"Data of all types is widely available from dozens of sources. The missing link, however, is the ability to connect clinical trial data to the insights from real–world data "" enabling researchers to understand what is happening outside and after a study in a way that protects privacy," said Kent Thoelke, Executive Vice President and Chief Scientific Officer, PRA Health Sciences. "Tokenization and linking is the approach researchers can use to glean the greatest insights into drug safety and effectiveness over time."

PRA can partner with a variety of tokens to multiple sources of information "" making it possible to incorporate broader sets of real–world data and revolutionize evidence generation and insights as envisioned by the 21st Century Cures Act.

"Tokenization of siloed patient data sets will be a game–changer for clinical researchers and drug developers," said Jane Quigley, Senior Vice President, Digital Health, PRA Health Sciences. "Through our acquisition of Symphony Health and partnership with other data sources, we have enabled scientists and research teams to more intelligently evaluate a wider set of data to inform clinical trial protocols, leverage real–world data as eSource, conduct advanced feasibility, speed enrollment and, ultimately, bring novel and differentiated therapies to market faster."

Contact us to learn more about how Synoma can be applied to clinical studies.

About PRA Health Sciences

PRA Health Sciences is one of the world's leading global contract research organizations by revenue, providing outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries. PRA's global clinical development platform includes more than 75 offices across North America, Europe, Asia, Latin America, Africa, Australia and the Middle East and more than 19,000 employees worldwide. Since 2000, PRA has participated in approximately 4,000 clinical trials worldwide. In addition, PRA has participated in the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 95 drugs. To learn more about PRA, please visit www.prahs.com.

INVESTOR INQUIRIES: InvestorRelations@prahs.com

MEDIA INQUIRIES: Laurie Hurst, Sr. Director, Communications and Public Relations

hurstlaurie@prahs.com | +1 (919) 786–8435


GLOBENEWSWIRE (Distribution ID 8235049)

Montauk Renewables, Inc. Expands Agricultural Waste Segment Through Technology Acquisition

PITTSBURGH, May 11, 2021 (GLOBE NEWSWIRE) — Montauk Renewables, Inc. (Montauk) (NASDAQ: MNTK) announces the acquisition of privately–held NR3, LLC, (NR3) a pioneering environmental technology and renewable energy company, based in Greensboro, NC, that specializes in the recovery, refining, and recycling of natural resources from the waste streams of modern agriculture. Montauk, historically focused on the environmental compliance and recovery of methane from landfills, commissioned its first agriculture waste–to–energy cluster project in August 2020. The Company believes the NR3 acquisition could be transformative in expanding its focus on decarbonization projects and the remediation of environmental and social issues surrounding industrial agriculture in underserved communities.

As a result of the acquisition, Montauk will look to exclusively deploy specialized, patent–pending, near–zero–emissions technology of NR3, which, through a commercially proven process, converts animal and agriculture waste into forms of environmentally friendly, 100% organic, renewable energy alternatives that can replace the three–primary fossil–fuels of the global energy infrastructure: oil, gas and coal. Montauk has also retained the founders of NR3, Joe Carroll and Martin Redeker, who are long–time members of the agricultural community in North Carolina, as leaders of the new business division which is expected to initially focus on the enormous U.S. swine industry. According to the National Pork Producer's Council, in the U.S., more than 60,000 pork producers annually market more than 115 million hogs, which, on average, provide total gross income of more than $20 billion USD and supports over 550,000 jobs. The world's pig farmers produced 108.2 million metric tons of pork last year, according to the USDA Foreign Agricultural Service, with China, the European Union, the United States as the top producers.

Montauk is now in the late stages of evaluating a 5–year, 20–unit development cluster project that could initially deploy the NR3 technology to be available to convert a significant portion of the 15–million tons of animal and agricultural waste produced annually by North Carolina swine farms into environmentally sustainable, economically viable, renewable energy. This initial cluster project will seek to optimize revenue streams from swine waste lagoon close–outs, and in particular, lagoon waste that cannot otherwise be processed through conventional digestion technology. It is expected that each unit will be capable of processing up to 15–tons per day of animal and agricultural feedstock into varying amounts of Renewable Natural Gas ("RNG"), bio–oil, biochar and creating potential additional financial benefits through carbon sequestration. Once finalized, this initial project could deploy a multi–year, cumulative capital investment expected to be in the $100 million to $150 million dollar range, and should be accretive to earnings approximately halfway through its 5–year development cycle. Montauk anticipates this new business division can be a strategic diversification of earnings across gas and electric commodities, federal and state attributes through the generation of D3 RINs, LCFS credits, Renewable Energy Certificates (RECs), soil amendments, and the potential earnings benefits tied to lagoon close–outs and carbon sequestration.

As part of Montauk's commitment to environmental and social issues, such as combatting climate change and promoting environmental stewardship while serving the community, Montauk plans to prioritize its collection of animal and agricultural waste from farms surrounding historically underserved, at–risk communities in North Carolina that have higher concentrations of industrial agriculture. With agriculture's significant contribution to greenhouse gas emissions in the United States, Montauk views the acquisition of NR3, and the initial deployment project plans in North Carolina, as a rare and exciting opportunity to combine environmental stewardship and societal benefit to long–term investment value.

About Montauk Renewables, Inc.
Montauk Renewables, Inc. (NASDAQ: MNTK) ("Company") is a renewable energy company specializing in the recovery and processing of biogas from non–fossil fuel sources such as agriculture and landfills for beneficial use as a replacement to fossil fuels. The Company develops, owns, and operates RNG projects, using proven technologies that supply renewable fuel into the transportation and electrical power sectors. With over 30 years' experience, the Company is one of the largest producers of RNG in the United States. The Company has an operating portfolio of 12 RNG and three renewable electricity projects that span six states. For more information visit https://ir.montaukrenewables.com

Contacts

Company IR

investor@montaukenergy.com


GLOBENEWSWIRE (Distribution ID 8233991)

Bombardier Holds Week-long Virtual Event for Overseas Audience

MONTRÉAL, May 10, 2021 (GLOBE NEWSWIRE) — Bombardier is pleased to host its second virtual event from Monday, May 10, to Friday, May 14. The business jet maker is offering online visits of its industry–leading aircraft and showcasing its customer service offerings via a series of webinars.

Geared toward customers in the Middle East and Europe, Bombardier is hosting online visits aboard the Challenger 350 aircraft, the Challenger 650 aircraft, the Global 5500 aircraft, the Global 6500 aircraft and the industry flagship Global 7500 aircraft. The company's successful first virtual event, in October, was focused on a North American audience.

Bombardier is also inviting members of the public to a virtual visit of a different aircraft on each day of the show "" details on how to participate will be shared on the company's Instagram, Facebook, Twitter, and LinkedIn accounts.

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game–changing planes. Our products and services provide world–class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety. Headquartered in Montral, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network.

The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

Notes to Editors
Visit the Bombardier Business Aircraft website for more information on our industry–leading products and services. Follow @Bombardier on Twitter to receive the latest news and updates from
Bombardier Business Aircraft.

Bombardier, Challenger, Challenger 350, Challenger 650, Global, Global 5500, Global 6500 and Global 7500 are registered or unregistered trademarks of Bombardier Inc. or its subsidiaries.

For Information

Louise Solomita
Bombardier
Louise.Solomita@aero.bombardier.com
+1–514–855–5001 ext. 25148


GLOBENEWSWIRE (Distribution ID 8233002)

Bombardier Announces the Election of its Board of Directors

MONTRÉAL, May 06, 2021 (GLOBE NEWSWIRE) — Bombardier announces that all candidates in the Management Proxy Circular dated March 26, 2021, were elected as directors of Bombardier Inc. during its annual meeting of shareholders held virtually earlier today. Detailed results of the ballot for the election of directors are below.

Election of Directors
Following a vote, each of the following 12 candidates proposed by management was elected a director of Bombardier:

Candidates Votes for % for Abstentions % of abstentions
Pierre Beaudoin 2,955,547,338 98.59% 42,310,815 1.41%
Joanne Bissonnette 2,964,372,425 98.88% 33,485,719 1.12%
Charles Bombardier 2,961,126,989 98.77% 36,731,164 1.23%
Diane Fontaine 2,964,113,432 98.87% 33,744,711 1.13%
Diane Giard 2,940,900,573 98.10% 56,957,570 1.90%
Anthony R. Graham 2,941,707,630 98.13% 56,150,513 1.87%
August W. Henningsen 2,975,687,105 99.26% 22,171,038 0.74%
Melinda Rogers–Hixon 2,988,318,594 99.68% 9,539,559 0.32%
ric Martel 2,971,380,638 99.12% 26,477,505 0.88%
Douglas R. Oberhelman 2,929,308,153 97.71% 68,550,000 2.29%
Eric Sprunk 2,988,388,222 99.68% 9,469,931 0.32%
Antony N. Tyler 2,935,873,967 97.93% 61,984,176 2.07%

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game–changing planes. Our products and services provide world–class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montral, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier is a registered trademark of Bombardier Inc. or its subsidiaries.

For Information

Francis Richer de La Flche
Vice President, Financial Planning
and Investor Relations
Bombardier
+514 855 5001 x13228		 Anna Cristofaro
Manager
Communications
Bombardier
+514 855 8678


GLOBENEWSWIRE (Distribution ID 8231643)

Bombardier Announces the Election of its Board of Directors

MONTRÉAL, May 06, 2021 (GLOBE NEWSWIRE) — Bombardier announces that all candidates in the Management Proxy Circular dated March 26, 2021, were elected as directors of Bombardier Inc. during its annual meeting of shareholders held virtually earlier today. Detailed results of the ballot for the election of directors are below.

Election of Directors
Following a vote, each of the following 12 candidates proposed by management was elected a director of Bombardier:

Candidates Votes for % for Abstentions % of abstentions
Pierre Beaudoin 2,955,547,338 98.59% 42,310,815 1.41%
Joanne Bissonnette 2,964,372,425 98.88% 33,485,719 1.12%
Charles Bombardier 2,961,126,989 98.77% 36,731,164 1.23%
Diane Fontaine 2,964,113,432 98.87% 33,744,711 1.13%
Diane Giard 2,940,900,573 98.10% 56,957,570 1.90%
Anthony R. Graham 2,941,707,630 98.13% 56,150,513 1.87%
August W. Henningsen 2,975,687,105 99.26% 22,171,038 0.74%
Melinda Rogers–Hixon 2,988,318,594 99.68% 9,539,559 0.32%
ric Martel 2,971,380,638 99.12% 26,477,505 0.88%
Douglas R. Oberhelman 2,929,308,153 97.71% 68,550,000 2.29%
Eric Sprunk 2,988,388,222 99.68% 9,469,931 0.32%
Antony N. Tyler 2,935,873,967 97.93% 61,984,176 2.07%

About Bombardier
Bombardier is a global leader in aviation, creating innovative and game–changing planes. Our products and services provide world–class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montral, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier is a registered trademark of Bombardier Inc. or its subsidiaries.

For Information

Francis Richer de La Flche
Vice President, Financial Planning
and Investor Relations
Bombardier
+514 855 5001 x13228		 Anna Cristofaro
Manager
Communications
Bombardier
+514 855 8678


GLOBENEWSWIRE (Distribution ID 8231643)

CEO and Co-Founder of Virgin Hyperloop Speaks to U.S. House Transportation & Infrastructure Committee on Emerging Mass Transportation Technology

WASHINGTON, May 06, 2021 (GLOBE NEWSWIRE) — Today, at the Transportation and Infrastructure Railroads, Pipelines, and Hazardous Materials Subcommittee hearing, "When Unlimited Potential Meets Limited Resources: The Benefits and Challenges of High–Speed Rail and Emerging Rail Technologies," Josh Giegel, the CEO and Co–Founder of Virgin Hyperloop, discussed how hyperloop can bring our transportation network into the 21st Century and the need for increased investment in hyperloop.

"We can have "" in the near future "" hyperloop, a new, more efficient, faster, and sustainable component of our national transportation system that brings communities together and opens up opportunities for all. We aim to create a mass–mobility experience that is available to the broad public," said Giegel.

As Congress prepares surface reauthorization legislation, this hearing is timely to highlight the safety, environmental, and mobility benefits of hyperloop. Bipartisan support of hyperloop from Members of Congress has been crucial in the forward progression of the industry thus far, but continued support is necessary to deploy a hyperloop system across the United States.

Giegel stated that since U.S. DOT's guidance issued last summer that hyperloop is subject to FRA safety jurisdiction, legislation should make clear that hyperloop is eligible for funding programs on the same terms as rail projects. Further, he also said the Federal government should provide additional funding opportunities for such cutting–edge technologies like hyperloop. Legislation could set aside funds for emerging technology developed in the United States.

About Virgin Hyperloop Technology
Hyperloop is a planned high–speed surface transportation system. Travel would occur within a low–pressure enclosure in a vehicle. This, along with Virgin Hyperloop's proprietary magnetic levitation engine, would allow us to reach and maintain airline speeds with significantly less energy than other modes of transportation. Not only is hyperloop expected to be fast, but a high–capacity mass transit system, capable of comfortably moving people and goods at 670 miles per hour with 50,000 passengers per hour, per direction, on–demand and direct to your destination (meaning no stops along the way). That is the equivalent of a 30–lane highway.

Media Assets
Media assets can be found here. Please credit Virgin Hyperloop.

About Virgin Hyperloop
Virgin Hyperloop is the only company in the world that has successfully tested hyperloop technology with passengers, launching the first new mode of mass transportation in over 100 years. The company successfully operated an occupied hyperloop vehicle using electric propulsion and electromagnetic levitation under near–vacuum conditions, realizing a fundamentally new form of transportation that is expected to be faster, safer, cheaper, and more sustainable than existing modes. Learn more about Virgin Hyperloop's technology, vision, and ongoing projects here.


GLOBENEWSWIRE (Distribution ID 8231526)

Bombardier Reports First Quarter 2021 Financial Results, Affirms Full Year Financial Guidance and Delivery Outlook

  • Business jet revenues of $1.3 billion, up 18% year–over–year, mainly driven by a favourable mix of large–cabin aircraft deliveries, including eight Global 7500 aircraft

  • Adjusted EBITDA(1) from continuing operations of $123 million, up 43% year–over–year, reflecting an improved aircraft mix, Global 7500 aircraft learning curve progress and cost structure improvements; adjusted EBIT(1) from continuing operations of $29 million. Reported EBIT from continuing operations for the quarter was $19 million

  • Free cash flow usage(1) from continuing operations of $405 million, including ~ $100 million of non–recurring cash items(2), an improvement of $357 million year–over–year. Reported cash flows from operating activities "" continuing operations for the quarter was a usage of $372 million and net additions to PPE & intangible assets "" continuing operations for the quarter were $33 million

  • First quarter book–to–bill(3) > 1.0 on strong sales activity, which is expected to continue(4) into the second quarter

  • Strong pro–forma liquidity(4) of $2.6 billion, which includes $0.6 billion in proceeds from sale of Alstom shares. Bombardier has deployed ~ $2.4 billion toward balance sheet deleveraging year–to–date, expected to reduce annual cash interest costs by ~ $200 million versus its 2020 debt servicing cost

All amounts in this press release are in U.S. dollars unless otherwise indicated.
Amounts in tables are in millions, unless otherwise indicated.

MONTRÉAL, May 06, 2021 (GLOBE NEWSWIRE) — Bombardier (TSX: BBD.B) announced today its financial results for the first quarter of 2021 and affirmed its full year 2021 financial guidance and delivery expectations of 110–120 aircraft.

"In our first quarter as a pure–play business aviation company, Bombardier delivered solid financial performance," said ric Martel, President and Chief Executive Officer, Bombardier. "This includes growth in business jet revenues, margin expansion and significantly improved cash performance. We also continue to make strong progress on each of our strategic priorities: maturing the Global 7500 aircraft program, delivering on our productivity initiative, executing our aftermarket growth strategy and deleveraging our balance sheet "" setting the foundation for a more resilient and profitable business."

First Quarter 2021 Financial Performance

Business jet revenues during the first quarter of 2021 totalled $1.3 billion, an 18% year–over–year increase. This increase was mainly driven by an improved mix of large–cabin aircraft deliveries, including eight Global 7500 aircraft. Total aircraft deliveries in the quarter equalled 26, in line with expectations and the company's full–year delivery targets. Order activity in the quarter was strong, resulting in a book–to–bill ratio of greater than 1.0. Robust sales activity and positive market trends are expected to continue(5) into the second quarter.

Adjusted EBITDA for continuing operations in the quarter was $123 million, a 43% increase year–over–year, reflecting a favourable aircraft mix, progress on the Global 7500 aircraft learning curve, cost structure improvements and the divestitures of margin dilutive businesses. Adjusted EBIT for continuing operations was $29 million.

First–quarter free cash usage for continued operations totalled $405 million, including approximately $100 million of non–recurring cash items, representing a $357 million year–over–year improvement.

Balance Sheet Deleveraging Actions

As previously disclosed by Bombardier, the sale of its Transportation business was completed on January 29, 2021. Since the divestiture of Bombardier Transportation, Bombardier has deployed approximately $2.4 billion of liquidity, including proceeds from the Transportation sale, toward deleveraging its balance sheet. This includes the full repayment of the total outstanding balance of $750 million drawn on the $1.0 billion senior secured term loan facility with HPS Investment Partners, LLC and the recently concluded approximately $1.6 billion tender offer to purchase certain outstanding notes. Together, these actions are expected to reduce the company's annual cash interest costs by approximately $200 million versus its 2020 debt servicing cost.

The company continues to consider various options to address other debt maturities in an opportunistic manner, with a focus on clearing a three–year runway providing the company with a path to execute its strategy.

Affirming Full Year 2021 Guidance and 2025 Objectives

"With our solid performance in the first quarter, and our markets in recovery and key initiatives well underway, we remain confident in our ability to deliver on both our full–year financial guidance and longer–term objectives," Martel continued. "This includes: (i) diversifying the company's revenue mix by growing aftermarket services to ~ 27% of revenues by 2025; (ii) achieving a 20% reduction in Global 7500 aircraft unit costs between the 50th and 100th aircraft delivery; and (iii) obtaining $400 million in recurring savings by 2023. Through these actions, we work on transforming Bombardier into a more predictable, profitable and resilient company."

SELECTED RESULTS

Results of the Quarter
Three–month periods ended March 31 2021
 2020 Variance
restated(6)
Revenues(7) $ 1,341 $ 1,522 (12)%
Adjusted EBITDA $ 123 $ 86 43 %
Adjusted EBITDA margin(1)(7) 9.2 % 5.7 % 350 bps
Adjusted EBIT $ 29 $ 9 222%
Adjusted EBIT margin(1)(7) 2.2 % 0.6 % 160 bps
EBIT(7) $ 19 $ 105 (82)%
EBIT margin(7) 1.4 % 6.9 % (550) bps
Net loss from continuing operations $ (251 ) $ (281 ) 11 %
Net income from discontinued operations $ 5,321 $ 81 6,469 %
Net income (loss) $ 5,070 $ (200 ) nmf
Diluted EPS from continuing operations (in dollars) $ (0.10 ) $ (0.12 ) $ 0.02
Diluted EPS from discontinued operations (in dollars) $ 2.13 $ 0.01 $ 2.12
$ 2.03 $ (0.11 ) $ 2.14
Adjusted net loss(1)(7) $ (173 ) $ (182 ) (5)%
Adjusted EPS (in dollars)(1)(7) $ (0.07 ) $ (0.08 ) $ 0.01
Cash flows from operating activities
Continuing operations $ (372 ) $ (686 ) (46)%
Discontinued operations $ (621 ) $ (857 ) (28)%
$ (993 ) $ (1,543 ) (36)%
Net additions to PP&E and intangible assets
Continuing operations $ 33 $ 76 (57)%
Discontinued operations $ "" $ 23 (100)%
$ 33 $ 99 (67)%
Free cash flow (usage)
Continuing operations $ (405 ) $ (762 ) (47)%
Discontinued operations $ (621 ) $ (880 ) (29)%
$ (1,026 ) $ (1,642 ) (38)%
As at March 31, 2021
 December 31, 2020 Variance
Cash and cash equivalents excluding Transportation $ 3,153 $ 1,779 77 %
Cash and cash equivalents from Transportation $ "" $ 671 (100)%
$ 3,153 $ 2,450 29 %
Available short–term capital resources(8) $ 3,153 $ 3,203 (2)%
Aviation order backlog (in billions of dollars)
Business aircraft(9) $ 10.4 $ 10.7 (3)%


KEY HIGHLIGHTS AND EVENTS

Progress on the Reshaping of Bombardier's Balance Sheet

Following the conclusion of the sale of its Transportation business, Bombardier has proceeded to deploy approximately $2.4 billion of available cash towards debt repayment, including proceeds from the sale of the Transportation business. As a result, Bombardier expects to reduce its annual cash interest costs by approximately $200 million versus its 2020 debt servicing cost. Following the first quarter results, as well as the conclusion of these actions, the Corporation's pro–forma liquidity remains strong at $2.6 billion, which includes $0.6 billion in proceeds from the sale of Alstom shares.

The deployment of the proceeds consisted of the following initiatives:

  • On February 19, 2021, Bombardier deployed $0.8 billion and completed the full repayment of its senior secured term loan with HPS Investment Partners, LLC.
  • On April 19, 2021, Bombardier announced the expiration of its tender offer to purchase for cash certain of its outstanding Notes. The aggregate purchase amount of the cash tender offer amounted to a total consideration of $1.6 billion.

First Quarter Financial Performance

  • Business jet revenues up 18% year–over–year, totalling $1.3 billion; this increase is mainly driven by a favourable mix of large–cabin aircraft deliveries and the fact that we are now operating at a steady delivery rate for the Global 7500.
  • Adjusted EBITDA of $123 million from continuing operations for the quarter up 43% year–over–year reflecting an improved aircraft mix, an acceleration of the Global 7500 learning curve benefits, and improvements in the cost structure. Reported EBIT from continuing operations for the quarter was $19 million.
  • Free cash flow usage from continuing operations for the quarter totalled $405 million including approximately $100 million of non–recurring cash items, representing an improvement of $357 million year–over–year. Reported cash flows from operating activities "" continuing operations for the quarter was a usage of $372 million and net additions to PPE & intangible assets "" continuing operations for the quarter were $33 million.
  • Business aircraft deliveries for the quarter totalled 26 units, on par with 2020; company remains on plan for 110–120 deliveries in 2021 within a market showing preliminary signs of recovery(5). Stronger sales activity in the first quarter yielded a unit book–to–bill ratio above 1.0, which is expected to continue into the second quarter.

About Bombardier

Bombardier is a global leader in aviation, creating innovative and game–changing planes. Our products and services provide world–class experiences that set new standards in passenger comfort, energy efficiency, reliability and safety.

Headquartered in Montral, Canada, Bombardier is present in more than 12 countries including its production/engineering sites and its customer support network. The Corporation supports a worldwide fleet of approximately 4,900 aircraft in service with a wide variety of multinational corporations, charter and fractional ownership providers, governments and private individuals.

News and information is available at bombardier.com or follow us on Twitter @Bombardier.

Bombardier, Global and Global 7500 are trademarks of Bombardier Inc. or its subsidiaries.

For information

Francis Richer de La Flche Anna Cristofaro
Vice President, Financial Planning Manager
and Investor Relations Communications
Bombardier Bombardier
+514 855 5001 x13228 +514 855 8678

The Management's Discussion and Analysis and the Interim Consolidated Financial Statements are available at ir.bombardier.com.

bps: basis points
nmf: information not meaningful
(1) Non–GAAP financial measures. Refer to the Non–GAAP financial measures section in Overview for definitions of these metrics and to the Analysis of consolidated results section and Liquidity and capital resources section in Overview for reconciliations to the most comparable IFRS measures.
(2) Non–recurring cash items include the impact of winding down the reverse factoring programs, payments of residual value guarantee liability and restructuring costs.
(3) Ratio of new aircraft orders in units over aircraft deliveries in units.
(4) Non–GAAP measure. Pro–forma liquidity is defined as cash and cash equivalents as at March 31, 2021, of $3.2 billion, plus approximately $0.6 billion of Alstom shares, plus $0.4 billion of short–term restricted cash as collateral for bank guarantees, and less $1.6 billion paid to repurchase certain outstanding Notes in April 2021.
(5) See the forward–looking statements disclaimer.
(6) Restated for the sale of Transportation, refer to Note 17 "" Disposal of business to our Interim consolidated financial statements for more details.
(7) Includes continuing operations only.
(8) Defined as cash and cash equivalents as at March 31, 2021; defined as cash and cash equivalents including cash and cash equivalents from Transportation plus the undrawn amounts under Transportation's revolving credit facility and our senior secured term loan as at December 31, 2020.
(9) Includes order backlog for both manufacturing and services.

CAUTION REGARDING NON–GAAP FINANCIAL MEASURES

This press release is based on reported earnings in accordance with IFRS and on the following non–GAAP financial measures:

Non–GAAP financial measures
Adjusted EBIT EBIT excluding special items. Special items comprise items which do not reflect the Corporation's core performance or where their separate presentation will assist users of the consolidated financial statements in understanding the Corporation's results for the period. Such items include, among others, the impact of restructuring charges, impact of business disposals and significant impairment charges and reversals.
Adjusted EBITDA Adjusted EBIT plus amortization and impairment charges on PP&E and intangible assets.
Adjusted net income (loss) Net income (loss) excluding special items, accretion on net retirement benefit obligations, certain net gains and losses arising from changes in measurement of provisions and of financial instruments carried at FVTP&L and the related tax impacts of these items.
Free cash flow (usage) Cash flows from operating activities less net additions to PP&E and intangible assets.

Non–GAAP financial measures are mainly derived from the consolidated financial statements but do not have standardized meanings prescribed by IFRS. The exclusion of certain items from non–GAAP performance measures does not imply that these items are necessarily non–recurring. Other entities in our industry may define the above measures differently than we do. In those cases, it may be difficult to compare the performance of those entities to ours based on these similarly–named non–GAAP measures.

Adjusted EBIT, adjusted EBITDA and adjusted net income (loss)
Management uses adjusted EBIT, adjusted EBITDA and adjusted net income (loss) for purposes of evaluating underlying business performance. Management believes these non–GAAP earnings measures in addition to IFRS measures provide users of our Financial Report with enhanced understanding of our results and related trends and increases the transparency and clarity of the core results of our business. Adjusted EBIT, adjusted EBITDA and adjusted net income (loss) exclude items that do not reflect our core performance or where their exclusion will assist users in understanding our results for the period. For these reasons, a significant number of users of the MD&A analyze our results based on these financial measures. Management believes these measures help users of MD&A to better analyze results, enabling better comparability of our results from one period to another and with peers.

Free cash flow (usage)
Free cash flow is defined as cash flows from operating activities less net additions to PP&E and intangible assets. Management believes that this non–GAAP cash flow measure provides investors with an important perspective on the Corporation's generation of cash available for shareholders, debt repayment, and acquisitions after making the capital investments required to support ongoing business operations and long–term value creation. This non–GAAP cash flow measure does not represent the residual cash flow available for discretionary expenditures as it excludes certain mandatory expenditures such as repayment of maturing debt. Management uses free cash flow as a measure to assess both business performance and overall liquidity generation.

Reconciliations of non–GAAP financial measures to the most comparable IFRS financial measures are provided in the table hereafter, except for the following reconciliations:

  • adjusted EBIT to EBIT "" see the Consolidated results of operations section; and
  • free cash flow usage to cash flows from operating activities "" see the Free cash flow usage table in the Liquidity and capital resources section in the MD&A.
Reconciliation of adjusted EBITDA to EBIT(1)
Three–month periods
ended March 31
2021 2020
EBIT $ 19 $ 105
Amortization 94 77
Impairment charges on PP&E and intangible assets(2) 3 11
Special items excluding impairment charges on PP&E and intangible assets(2) 7 (107 )
Adjusted EBITDA $ 123 $ 86

(1) Includes continuing operations only.
(2) Refer to the Consolidated results of operations section for details regarding special items.

SALE OF THE TRANSPORTATION BUSINESS TO ALSTOM SA

On September 16, 2020, the Corporation, Alstom and CDPQ and certain related parties signed a definitive sale and purchase agreement for the sale of the Transportation business through the sale of the entire issued share capital of BT Holdco ("SPA"). On January 29, 2021, the Corporation closed the sale of the Transportation business to Alstom.

See Note 21 "" Commitments and contingencies, to our interim consolidated financial statements, for more information regarding the indemnities and guarantees related to the sale of Transportation.

The transaction resulted in a gain of $5,321 million reflected in net income from discontinued operations.

For details, refer to Note 17 "" Disposal of businesses, to our interim consolidated financial statements.

FORWARD–LOOKING STATEMENTS

This press release includes forward–looking statements, which may involve, but are not limited to: statements with respect to our objectives, anticipations and outlook or guidance in respect of various financial and global metrics and sources of contribution thereto, targets, goals, priorities, market and strategies, financial position, financial performance, market position, capabilities, competitive strengths, credit ratings, beliefs, prospects, plans, expectations, anticipations, estimates and intentions; general economic and business outlook, prospects and trends of an industry; customer value; expected demand for products and services; growth strategy; product development, including projected design, characteristics, capacity or performance; expected or scheduled entry–into–service of products and services, orders, deliveries, testing, lead times, certifications and execution of orders in general; competitive position; expectations regarding revenue and backlog mix; the expected impact of the legislative and regulatory environment and legal proceedings; strength of capital profile and balance sheet, creditworthiness, available liquidities and capital resources, expected financial requirements, and ongoing review of strategic and financial alternatives; the introduction of, productivity enhancements, operational efficiencies, cost reduction and restructuring initiatives, and anticipated costs, intended benefits and timing thereof; the anticipated business transition to growth cycle and cash generation; expectations, objectives and strategies regarding debt repayment, refinancing of maturities and interest cost reduction; expectations regarding availability of government assistance programs, compliance with restrictive debt covenants; expectations regarding the declaration and payment of dividends on our preferred shares; intentions and objectives for our programs, assets and operations; and the impact of the COVID–19 pandemic on the foregoing and the effectiveness of plans and measures we have implemented in response thereto; and expectations regarding gradual market and economic recovery in the aftermath of the COVID–19 pandemic. As it relates to the sale of the Transportation business to Alstom, this press release also contains forward–looking statements with respect to the benefits of such transaction, the use of the proceeds derived from the transaction and its impact on our outlook, guidance and targets, operations, infrastructure, opportunities, financial condition, business plan and overall strategy.

Forward–looking statements can generally be identified by the use of forward–looking terminology such as "may", "will", "shall", "can", "expect", "estimate", "intend", "anticipate", "plan", "foresee", "believe", "continue", "maintain" or "align", the negative of these terms, variations of them or similar terminology. Forward–looking statements are presented for the purpose of assisting investors and others in understanding certain key elements of our current objectives, strategic priorities, expectations, outlook and plans, and in obtaining a better understanding of our business and anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes.

By their nature, forward–looking statements require management to make assumptions and are subject to important known and unknown risks and uncertainties, which may cause our actual results in future periods to differ materially from forecast results set forth in forward–looking statements. While management considers these assumptions to be reasonable and appropriate based on information currently available, there is risk that they may not be accurate. The assumptions underlying the forward–looking statements made in this press release include the following material assumptions: the deployment of the proceeds from the sale of the Transportation business to Alstom on terms allowing the Corporation, when combined to other financing sources and free cash flow generation, to repay or otherwise manage its various maturities for the next three years; growth of the business aviation market and increase of the Corporation's share of such market; proper identification of recurring cost savings and executing on our cost reduction plan; optimization of our real estate portfolio, including through the sale or other transaction in respect of real estate assets on favorable terms; and access to working capital facilities on market terms. For additional information, including with respect to other assumptions underlying the forward–looking statements made in this press release, refer to the Forward–looking statements "" Assumptions section in the MD&A of our financial report for the fiscal year ended December 31, 2020 which may be viewed on SEDAR at www.sedar.com. Given the impact of the changing circumstances surrounding the COVID–19 pandemic and the related response from the Corporation, governments (federal, provincial and municipal), regulatory authorities, businesses, suppliers, customers, counterparties and third–party service providers, there is inherently more uncertainty associated with the Corporation's assumptions as compared to prior years.

Certain factors that could cause actual results to differ materially from those anticipated in the forward–looking statements include, but are not limited to, risks associated with general economic conditions, risks associated with our business environment (such as risks associated with the financial condition of business aircraft customers; trade policy; increased competition; political instability and force majeure events or global climate change), operational risks (such as risks related to developing new products and services; development of new business ; order backlog; the transition to a pure–play business aviation company; the certification of products and services; the execution of orders; pressures on cash flows and capital expenditures based on seasonality and cyclicality; execution of our strategy, productivity enhancements, operational efficiencies, restructuring and cost reduction initiatives; doing business with partners; product performance warranty and casualty claim losses; regulatory and legal proceedings; environmental, health and safety risks; dependence on certain customers, contracts and suppliers; supply chain risks; human resources; reliance on information systems; reliance on and protection of intellectual property rights; reputation risks; risk management; tax matters; and adequacy of insurance coverage), financing risks (such as risks related to liquidity and access to capital markets; retirement benefit plan risk; exposure to credit risk; substantial debt and interest payment requirements; restrictive debt covenants; reliance on debt management and interest cost reduction strategies; and reliance on government support), market risks (such as foreign currency fluctuations; changing interest rates; increases in commodity prices; and inflation rate fluctuations). For more details, see the Risks and uncertainties section in Other in the MD&A which may be viewed on SEDAR at www.sedar.com. Any one or more of the foregoing factors may be exacerbated by the ongoing COVID–19 outbreak and may have a significantly more severe impact on the Corporation's business, results of operations and financial condition than in the absence of such outbreak. As a result of the current COVID–19 pandemic, additional factors that could cause actual results to differ materially from those anticipated in the forward–looking statements include, but are not limited to: risks related to the impact and effects of the COVID–19 pandemic on economic conditions and financial markets and the resulting impact on our business, operations, capital resources, liquidity, financial condition, margins, prospects and results; uncertainty regarding the magnitude and length of economic disruption as a result of the COVID–19 outbreak and the resulting effects on the demand environment for our products and services; uncertainty regarding market and economic recovery in the aftermath of the COVID–19 pandemic; emergency measures and restrictions imposed by public health authorities or governments, fiscal and monetary policy responses by governments and financial institutions; disruptions to global supply chain, customers, workforce, counterparties and third–party service providers; further disruptions to operations, orders and deliveries; technology, privacy, cyber security and reputational risks; and other unforeseen adverse events.

Readers are cautioned that the foregoing list of factors that may affect future growth, results and performance is not exhaustive and undue reliance should not be placed on forward–looking statements. Other risks and uncertainties not presently known to us or that we presently believe are not material could also cause actual results or events to differ materially from those expressed or implied in our forward–looking statements. The forward–looking statements set forth herein reflect management's expectations as at the date of this press release and are subject to change after such date. Unless otherwise required by applicable securities laws, we expressly disclaim any intention, and assume no obligation to update or revise any forward–looking statements, whether as a result of new information, future events or otherwise. The forward–looking statements contained in this press release are expressly qualified by this cautionary statement.


GLOBENEWSWIRE (Distribution ID 8230814)

JW Player Acquires VUALTO to Strengthen Its Comprehensive Video Platform for Success in the Digital Video Economy

NEW YORK and PLYMOUTH, United Kingdom and AMSTERDAM, The Netherlands, May 06, 2021 (GLOBE NEWSWIRE) — JW Player, the leading video software and data insights platform, today announced it is acquiring VUALTO, a leading provider of live and on–demand video streaming and Digital Rights Management (DRM) solutions. The acquisition deepens JW Player's already robust offering to global broadcasters and further accelerates its vision to empower customers with independence and control in today's Digital Video Economy by offering easy–to–use, scalable video technology.

This acquisition arrives as the consumption of digital video continues its push to the mainstream. Video now comprises over 80% of all traffic on the internet, and according to JW Player data, people are consuming over two hours of digital video each day, a 40% increase since the beginning of 2020. As a result, a digital video strategy has become a "must have' not only for broadcasters and media companies, but also for organizations of all types, including for JW Player customers in fitness (Centr app), e–commerce (Tag Heuer), sports (Miami Heat) and e–learning (GoNoodle), among others. These new entrants have a diverse range of needs and require a scalable and flexible video platform that allows them to connect and engage with their audiences on the screens of their choice. Given these dynamics, the addressable market will grow from $14B today to $50B by 2027, a 20% CAGR.

"Over the past two years, digital video has become ubiquitous. We now live in the Digital Video Economy, and as a platform company that empowers our customers with independence and control, JW Player is uniquely positioned to succeed in this environment," said Dave Otten, CEO and co–founder of JW Player. "Joining forces with VUALTO further solidifies our position. Their world–class technology stack expands our platform to include broadcast–level live streaming and content protection services, which are critical for today's customers. We could not be more excited about this partnership and look forward to innovating together with the highly–talented VUALTO team."

JW Player's platform combines highly–scalable video delivery with data insights from 2.7 billion unique monthly devices to help its customers achieve their business goals with video. VUALTO complements JW Player's offering with market–leading, high–end live streaming and DRM services for broadcasters. The combined result is a single platform for high–quality live and on–demand video delivery across mobile, web and OTT platforms; secure content delivery; and unique insights, intelligence and monetization features to help customers grow their revenue.

Camilla Young, CEO and co–founder, VUALTO, said, "This is a huge growth opportunity for us as a business, as well as for our team. Our successful partnership with JW Player over the past year has given our teams the opportunity to successfully go–to–market under real–world circumstances. Through this, a natural culture match between our teams has already developed, which gives us incredible confidence that together we will be hugely successful. As we embark on this new chapter, our commitment to our existing broadcast customers and our DRM service remains, and we will continue to provide the same high level of support and service that our customers have come to expect from VUALTO."

VUALTO will expand JW Player's customer base with prominent customers in the European market and elsewhere, including ITV, the UK's most popular commercial TV channel, French national public broadcaster France TV, and the European Parliament. These broadcasters join over 12,000 media companies already using the JW Player platform, including broadcasters such as FOX, BBC, CNBC, EuroSport and VICE.

About JW Player
JW Player is the leading video software and data insights platform that gives customers independence and control in today's Digital Video Economy. Started in 2008 as a hugely popular open source video player, JW Player 's technology platform now powers digital video for hundreds of thousands of businesses, including half of the comScore top 50 sites in the US, leading broadcasters across EMEA, APAC and Latin America. Each month 1 billion viewers, or one third of all people on the Internet, consume video on JW Player's technology across 2.7 billion devices, creating an unmatched and powerful consumption and contextual data graph that helps customers grow audiences and generate incremental video from digital video. The company is headquartered in New York, with offices in London and Eindhoven, visit http://www.jwplayer.com.

About VUALTO
VUALTO are experts in cloud–based OTT Video Delivery & Orchestration, developing streaming solutions on a global scale. With three products, the VUALTO CONTROL HUB (VCH) video orchestration tool, CLIP2VU live & VOD video clipping & syndication tool, and VUDRM Digital Rights Management, VUALTO deliver an adaptable, scalable & intelligent video delivery solution, taking your content from camera, right through to your chosen users, on multi devices. Working globally, VUALTO develops video solutions for a host of industries to include: Broadcasters, Sports, Governments, Media & Entertainment, OTT Service Providers and Telecoms & Operators. To learn more, please visit www.VUALTO.com.

Contact: videosuccess@VUALTO.com

JW Player Media Contact:
Fatimah Nouilati
Scratch Marketing + Media for JW Player
fatimah@scratchmm.com

VUALTO Media Contact:
Amber Chawner
Whiteoaks International – PR for VUALTO
amberc@whiteoaks.co.uk


GLOBENEWSWIRE (Distribution ID 8230801)