ARway Corp

ARway signs five deals for software development kit


ARWAY CORP. SIGNS MULTIPLE NEW SDK DEALS FOR INDOOR POSITIONING (IPIN) & AUGMENTED REALITY NAVIGATION

ARway Corp. has signed five new deals for its software development kit (SDK), which showcases the increasing demand for this disruptive technology. Since its SDK was released on Jan. 31, 2023, the company has been experiencing a wave of demand from resellers, enterprise corporations and brands, which is expected to drive significant revenue in 2023.

According to research from Technavio, the $44-billion global indoor positioning and indoor navigation (IPIN) market will grow by $23.03-billion (U.S.) from 2020 to 2025, and the growth momentum of the market will accelerate at a CAGR (compound annual growth rate) of 33.21 per cent during the forecast period. The market growth will be led by North America, as this region will account for 40 per cent of the market's growth during the forecast period.

New deals:

  • MPSKIN -- SDK partner: Using the ARway platform for existing map management of virtual tours, and implementing new augmented reality tours on site at museums and art galleries;
  • The TRIBE -- SDK partner: Using ARway to build a custom AR (augmented reality)-powered app for its marketing agency to showcase capabilities to clients;
  • Suggesto -- SDK partner: Using ARway for a new experiential location-based game for its local customers in Italy;
  • ENCORE EAS: Entertainment technology provider based in MENA (the Middle East and North Africa). Using ARway in airports for wayfinding and guided tours;
  • Rayqube -- SDK partner: Agency based in Dubai building an experiential AR app for some of its select client locations to drive social engagement/sharing.

These SDK deals range in size from $600 to $10,000 based on the usage of the platform, and are within various industries, representing a wide range of use cases for ARway technology. The company is especially seeing significant and accelerating deals from augmented reality agencies. These creative agencies already work with dozens or even hundreds of customers and brands that want and need Arway's wayfinding technology. By subscribing to the ARway platform the agency can demonstrate the ARway capabilities to its clients and act as a reseller for ARway's solution.

ARway's SDK contains code libraries and API (application programming interface) information that allows developers to build their own white-label and private-label mobile apps on both iOs and Android, leveraging ARway's technology and creator tools to build AR wayfinding and spatial experiences. Creators and agencies will be able to develop white-label and private-label apps and access ARway APIs to author maps using the web creator portal.

About ARway Corp.

ARway is an AI (artificial intelligence)-powered augmented reality navigation platform for the real-world metaverse. It enables AR-enhanced indoor navigation and wayfinding solutions for large, multipurpose venues enabled by marker-based tracking using QR (quick response) codes. Visitors can access a venue map by scanning a QR code with their smart phone upon entering the venue to navigate to any point of interest (POI) with step-by-step directions, learn information about those POIs, and interact with rich AR content and experiences along the way.

The ARway offering has an unlimited number of use cases for augmenting physical spaces in the metaverse, consisting of indoor navigation with AR activations to improve the visitor experience in large and complex spaces. With value propositions spanning multiple industries and use cases, ARway leverages Nextech's 3-D/AR technology solutions to new substantial markets, for use by creators, brands and companies.

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Customers Expand Their Horizons with OpenText Cloud Editions 24.2

Company unveils its latest information management solutions, powered by AI and designed to catalyze business transformation through reimagining the way work is approached

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, today announced Cloud Editions (CE) 24.2 at its OpenText World Europe conference April 15-18 .  OpenText's innovations combine trusted information management solutions and data strategies with advanced artificial intelligence (AI) capabilities to make work smarter, safer, and simpler.

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OpenText World Europe 2024 Takes Flight Debuting Latest AI Innovations to Elevate Human Potential

OpenText brings together customers, partners and industry luminaries to explore the transformative power of AI as the force multiplier for human potential

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the information company, today began its OpenText World Europe event taking place in three locations, London Munich and Paris April 15 18. OpenText is excited to bring together customers, partners, and industry luminaries to explore the transformative power of information management and artificial intelligence (AI) to elevate human potential.

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Trudeau Earmarks C$2.4 Billion for Canadian AI Innovation in 2024 Budget

The Canadian government has announced plans to inject C$2.4 billion into artificial intelligence (AI) innovation.

Prime Minister Justin Trudeau unveiled the package as part of the country’s 2024 budget, saying the focus is on accelerating job growth in Canada's AI sector by boosting productivity and ensuring responsible AI use and adoption.

"AI has the potential to transform the economy. And our potential lies in capitalizing on the undeniable Canadian advantage," he said. "These investments in Budget 2024 will help harness the full potential of AI so Canadians, and especially young Canadians, can get good-paying jobs while raising our productivity, and growing our economy.”

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OpenText to Report Third Quarter Fiscal Year 2024 Financial Results on Thursday, May 2, 2024

Open Text Corporation (NASDAQ: OTEX), (TSX: OTEX), announced today that financial results for its third quarter fiscal year 2024 will be released on Thursday, May 2, 2024 at approximately 4:00 p.m. ET .

OpenText logo (PRNewsfoto/Open Text Corporation)

OpenText to Host Conference Call Webcast
Mark J. Barrenechea , OpenText CEO & CTO and Madhu Ranganathan , OpenText President, CFO & Corporate Development will host a conference call webcast on May 2, 2024 , at 5:00 p.m. ET from its Investor Relations website.

Date:

Thursday, May 2, 2024

Time:

5:00 p.m. ET/2:00 p.m. PT

Length:

60 minutes

Webcast:

Access on OpenText IR website https://investors.opentext.com

For more information, please visit: https://investors.opentext.com

About OpenText
OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud-Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit https://www.opentext.com

Copyright ©2024 Open Text. OpenText is a trademark or registered trademark of Open Text. The list of trademarks is not exhaustive of other trademarks. Registered trademarks, product names, company names, brands and service names mentioned herein are property of Open Text. All rights reserved. For more information, visit: https://www.opentext.com/who-we-are/copyright-information

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SOURCE Open Text Corporation

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How to Invest in OpenAI's ChatGPT (Updated 2024)

OpenAI’s ChatGPT is one of the latest technological breakthroughs in the artificial intelligence (AI) space. But is there a good investment case for a technology that has become so controversial?

This emerging technology is representative of a niche subsector of the AI industry known as generative AI — systems that can generate text, images or sounds in response to prompts given by users.

Precedence Research expects the global AI market to grow at a compound annual growth rate (CAGR) of 19 percent to reach US$2.57 trillion by 2032. Just how much of an impact OpenAI’s ChatGPT will have on this space is hard to predict, but S&P Global suggested in December 2023 that the total market revenue of generative AI as a whole will see a CAGR of 57.9 percent through 2028, increasing from US$3.7 billion last year to US$36.36 billion in 2028.

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OpenText Strengthens Leadership Team; Appoints Three Presidents, including Todd Cione as incoming President WW Sales

OpenText™ (NASDAQ: OTEX), (TSX: OTEX), today announced the strategic appointment of Todd Cione as President of OpenText Worldwide Sales, and announced the promotions of Paul Duggan as President and Chief Customer Officer, and Madhu Ranganathan as President, CFO & Corporate Development.

OpenText logo (PRNewsfoto/Open Text Corporation)

Mr. Cione will lead a charter focused on spearheading the company's global go-to-market strategy and revenue growth, with OpenText's global sales and sales operations functions reporting directly to him. Mr. Duggan will lead a charter focused on customer success and customer transformations including support, recurring revenues, and professional services.  Ms. Ranganathan will lead a charter focused on finance, corporate operations, and corporate development.  Each of Mr. Cione, Mr. Duggan and Ms. Ranganathan will directly report to OpenText CEO & CTO Mark J. Barrenechea .

Cione is an experienced global sales leader with a proven record of customer engagement, revenue growth and executing cloud transformations.  He brings to OpenText more than 30 years of experience in global sales at large multi-national technology organizations, including Teradata, Apple, Microsoft, and Oracle.

"I am delighted to have Todd join the OpenText executive leadership team and to announce the expanded responsibilities for Paul and Madhu. Todd is a results-oriented leader with a proven track record of delivering predictable and profitable growth," said Mark J. Barrenechea , CEO & CTO, OpenText. "As we continue to grow as a global leader in Information Management, our leadership team is elevated with those who are experienced with operating multi-billion-dollar businesses. Todd, Paul, and Madhu are outstanding executives, and I look forward to working with them in the years to come."

"I believe OpenText's strategy of Information Management, in the cloud, at scale, is a winning strategy," said Todd Cione , President of Worldwide Sales. "Information Management is positioned to transform organizations with next generation automation and AI.  I am excited to be part of a winning team and to engage with customers and partners."

"OpenText serves many global organizations, and core to OpenText customer success is value, trust and innovation," said Paul Duggan , President and Chief Customer Officer.  "As our customers undergo the next wave of business transformations to the cloud and AI, our global and experienced Customer Success organization is ready to help."

"OpenText's operational excellence remains central to supporting our growth and scale," said Madhu Ranganathan , President, CFO & Corporate Development.  "Our expanded organization is focused on creating a frictionless business for our employees and customers, and to support the long-term value creation for all our stakeholders."

OpenText further announced that Ted Harrison , EVP, Enterprise Sales, has decided to retire from OpenText effective September 15 , 2024.  Until such time, effective immediately, Mr. Harrison will act as Strategic Advisor to the President, Worldwide Sales.

"I would like to sincerely thank Ted for his many years of leadership, contributions and accomplishments at OpenText and we wish him the very best in his next chapter," added Mr. Barrenechea.

For full biographical information on Todd Cione , Paul Duggan , and Madhu Ranganathan , as well as the entire OpenText Executive Leadership Team, please visit here .

About OpenText

OpenText, The Information Company™, enables organizations to gain insight through market leading information management solutions, powered by OpenText Cloud Editions. For more information about OpenText (NASDAQ: OTEX, TSX: OTEX) visit opentext.com

Connect with us:

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Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website ( https://investors.opentext.com ). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.

Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit https://www.opentext.com/patents .

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SOURCE Open Text Corporation

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