Apple Awards an Additional $410 Million from its Advanced Manufacturing Fund to II-VI

Apple and II-VI's collaboration will support more than 700 manufacturing jobs across the US

Apple ® today announced a new $410 million award from its Advanced Manufacturing Fund for II-VI, a leading manufacturer of optical technology. Today's award builds on an initial $390 million awarded from Apple's Advanced Manufacturing Fund in 2017. The expansion of the company's long-standing relationship will create additional capacity and accelerate delivery of future components for iPhone ® , with 700 jobs in Sherman, Texas; Warren, New Jersey; Easton, Pennsylvania; and Champaign, Illinois.

II-VI manufactures vertical-cavity surface-emitting lasers (VCSELs) that help power Face ID ® , Memoji™, Animoji ® , and Portrait mode selfies. Apple also works with II-VI to manufacture lasers used in the LiDAR Scanner — technology that helps deliver faster, more realistic augmented reality experiences and improves autofocus in low-light scenes in photos and videos.

Apple began working with II-VI in Sherman, Texas, in 2017 as part of the company's Advanced Manufacturing Fund, which helped transform a long-shuttered, 700,000-square-foot building into a high-tech manufacturing facility and created hundreds of local jobs. Through close collaboration with Apple engineering and operations teams, the company has rapidly increased production in the past year to enable record shipments from the Sherman facility.

"We established Apple's Advanced Manufacturing Fund to support American businesses creating next-generation technology and the jobs of tomorrow," said Jeff Williams, Apple's chief operating officer. "II-VI shares our commitment to push the boundaries of innovation and we're proud to be extending our work together across the country."

"The partnership between Apple and II-VI sets the stage for a new wave of breakthrough technologies that we believe will enable a wide range of applications that will benefit our world for decades to come," said Dr. Vincent Mattera Jr., II-VI's CEO. "We are incredibly grateful for Apple's support which has allowed us to expand our manufacturing capacity and scale our operations across the US."

II-VI is a part of Apple's Clean Energy Program, which was designed to advance the use of renewable energy across the company's supply chain, and is already using 100 percent renewable energy across all of its Apple manufacturing in the US.

Apple's expanded partnership with II-VI is part of the company's plans to invest $430 billion and add 20,000 new jobs across the US over the next five years. Apple's contributions include working with more than 9,000 suppliers across the country who are supporting American job creation across dozens of sectors, including silicon engineering, 5G, and manufacturing.

To support world-class innovation and high-skilled manufacturing jobs across the US, Apple established its Advanced Manufacturing Fund in 2017. The $5 billion fund has supported a number of projects to date, including $450 million in awards to Corning Incorporated in Harrodsburg, Kentucky, which led to the creation of Ceramic Shield™, a new material that's tougher than any other smartphone glass.

Apple supports 2.7 million jobs across all 50 states through direct employment, spending with US suppliers and manufacturers, and the iOS app economy.

This press release contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include without limitation those about Apple's plans for future investments and expansion. These statements involve risks and uncertainties, and actual results may differ. More information regarding potential risks and other factors that could affect Apple's financial results is included in Apple's filings with the SEC, including in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Apple's most recently filed periodic reports on Form 10-K and Form 10-Q and subsequent filings. Apple assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple's five software platforms — iOS, iPadOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple's more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.

NOTE TO EDITORS: For additional information visit Apple Newsroom ( www.apple.com/newsroom ), or call Apple's Media Helpline at (408) 974-2042.

© 2021 Apple Inc. All rights reserved. Apple, iPhone, Face ID, Memoji, Animoji, Ceramic Shield, and the Apple logo are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

Rachel Tulley
Apple
rachel_tulley@apple.com
408-974-0078

News Provided by Business Wire via QuoteMedia

The Conversation (0)
cell phone lying on table with app icons floating above it

How to Invest in Mobile Apps (Updated 2024)

The ubiquity of mobile devices and their prominence in everyday life has led to the development of mobile apps for everything from gaming and dating to banking and stock trading.

Mobile apps began rising to prominence in 2007 with the launch of the iPhone, which heralded a new era in connectivity brought about by revolutionary touch technology. The field has grown widely from thereon out, and the diversity of today’s offerings makes investing in mobile apps an appealing prospect.

With about 2.87 million apps in Google’s (NASDAQ: GOOGL) Google Play Store and around 1.96 million apps available in Apple’s (NASDAQ:AAPL) App Store, there is no shortage of app choices for mobile devices.

Keep reading...Show less
Icons for various apps floating above a smartphone.

Social Media Stocks: 5 Biggest Companies

The world’s largest social media platforms have revolutionized the way people connect on the internet, and the companies behind these platforms can offer major investment opportunities.

This year's strong rally in technology stocks, led by Meta Platforms (NASDAQ:FB), is a clear example of the huge presence social media companies have in the stock market. In late April, shares of the social media giant jumped 14.6 percent on higher-than-expected earnings. The news came alongside increasing investor confidence in the broader tech industry.

“Meta earnings show the company’s commitment to cost discipline while driving accelerating N-T revenue growth and also continuing to invest in longer-term transformational technologies like artificial intelligence (AI) and the metaverse,” said Doug Anmuth, an analyst at JPMorgan Chase (NYSE:JPM).

Keep reading...Show less
BlackBerry Extends Partnership with Leading Managed Security Services Provider  to Ensure SMBs are Set Up for Cyber Success

BlackBerry Extends Partnership with Leading Managed Security Services Provider to Ensure SMBs are Set Up for Cyber Success

BlackBerry Limited (NYSE: BB; TSX: BB) and Solutions Granted today announced an extended partnership, naming the leading cybersecurity services provider a Master Managed Security Services Provider (MSSP), enabling it to better scale and meet the growing demand for cybersecurity services among small and medium-sized businesses (SMBs).

BlackBerry Logo Black (PRNewsfoto/Blackberry Limited)

"Solutions Granted has been honored as BlackBerry MSSP Partner of the Year for North America for five consecutive years and we're excited to take our partnership to the next level by crowning them as our top Master MSSP," said Adam Enterkin , Chief Revenue Officer, Americas, BlackBerry Cybersecurity. "BlackBerry is dedicated to increasing its focus on MSSP partners to ensure they're set up for success. Endpoints are proliferating, and so are the cyberattacks against them. Our extended partnership with Solutions Granted will help hundreds of small and mid-size businesses continuously adapt to an ever-changing threat landscape."

As a 'Master MSSP', Solutions Granted will be better positioned to help its own partners to deliver Managed Detection and Response (MDR) and other Managed Security Services to their mid-market and SMB clients.  In partnership with BlackBerry and heavily leveraging the Cylance® AI-powered portfolio, Solutions Granted helps thousands of clients secure their environments and prevent attacks. By working with Solutions Granted, MSSPs and managed service providers (MSPs) can offer industry leading managed security, without making the significant investment of building out their own security operations center (SOC).

CylanceENDPOINT™ is among the solutions it helps managed service providers (MSPs) deploy to clients, either as individual managed services or integrated into a SOC-as-a-service offering.

"BlackBerry's support for our business model provides the flexibility we need to continue to meet customer demand and provide the best possible product support for their business needs," said Michael E. Crean , Chief Executive Officer, Solutions Granted. "We value the investment BlackBerry is making in our partnership and know this will go a long way in setting up our customers for success."

To learn more about BlackBerry MSSP Partners, visit blackberry.com/us/en/partners/mssp-partners .

About BlackBerry

BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world.  The company secures more than 500M endpoints including over 215M vehicles.  Based in Waterloo, Ontario , the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety and data privacy solutions, and is a leader in the areas of endpoint management, endpoint security, encryption, and embedded systems.  BlackBerry's vision is clear - to secure a connected future you can trust.

BlackBerry. Intelligent Security. Everywhere.

For more information, visit BlackBerry.com and follow @BlackBerry.

Trademarks, including but not limited to BlackBerry and EMBLEM Design are the trademarks or registered trademarks of BlackBerry Limited, and the exclusive rights to such trademarks are expressly reserved.  All other trademarks are the property of their respective owners.  BlackBerry is not responsible for any third-party products or services.

About Solutions Granted Inc.

Solutions Granted is a Master Managed Security Services Provider (Master MSSP). They offer cybersecurity solutions to North American MSPs and MSSPs and are committed to delivering solutions without requiring minimums, commitments, or long-term contracts. They proudly offer many security layers as well as a 24x7 U.S.-based Security Operations Center (SOC). Over the past several years, Solutions Granted has emerged as a clear leader in the channel, by winning countless awards including the CRN Security 100 list, Top 100 MSSP List, Top Global MSSP List, and BlackBerry MSSP Partner of the Year. Learn more at https://www.SolutionsGranted.com

Media Contacts:

BlackBerry Media Relations

+1 (519) 597-7273

mediarelations@BlackBerry.com

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/blackberry-extends-partnership-with-leading-managed-security-services-provider-mssp-to-ensure-smbs-are-set-up-for-cyber-success-301803800.html

SOURCE BlackBerry Limited

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
BlackBerry's Quarterly Threat Intelligence Report Finds Banks, Healthcare Providers and Food Retailers are Top Targets for Cybercrime

BlackBerry's Quarterly Threat Intelligence Report Finds Banks, Healthcare Providers and Food Retailers are Top Targets for Cybercrime

Geopolitical unrest positions key industries as targets for state-sponsored actors and financially motivated attacks

BlackBerry Limited (NYSE: BB; TSX: BB) today released its latest Quarterly Global Threat Intelligence Report highlighting an increase in cyberattacks directed at financial institutions, food retailers and healthcare providers, with 60 percent of all attacks targeting these three key industries.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
person using credit card to pay for something on their phone

Mobile Investing in Australia

After lagging behind for a prolonged period, Australia's tech sector is ramping up at an accelerated pace. The tech sector is now equivalent to 8.5 percent of the country's GDP as of the end of 2021, an increase of 26 percent since the onset of COVID-19 through June 2021 and a massive 79 percent increase over the past five years. Tech contributes AU$167 billion to the Australian economy, trailing only the mining (AU$205 billion) and financial/insurance (AU$169 billion) sectors.

Australia's characteristically resilient economy — which had not experienced a recession in nearly 30 years prior to COVID-19 lockdowns — has provided a sturdy backdrop for its growing tech sector. The growth in the tech sector’s contribution to the GDP has outpaced average growth of other industries by more than 400 percent, a gain partly attributable to accelerated digital technology adoption during the pandemic.

This dramatic expansion is largely in response to Australia's need to catch up to the rest of the world and assert itself in the global tech marketplace. Should the tech sector continue to grow at its current rate it will eventually surpass the relative GDP contribution of the long dominant mining sector. This will also complete the process of bringing Australia more in line with other western economies such as the UK, and notably Canada, which is comparable to Australia in terms of its dominant mining and agricultural industries.

Keep reading...Show less
DGTL Holdings Completes Acquisition of Engagement Labs

DGTL Holdings Completes Acquisition of Engagement Labs

DGTL Holdings Inc. (TSXV: DGTL) (OTCQB: DGTHF) (WKN: A2QB0L) (FSE: D0G) ("DGTL Holdings") and Engagement Labs Inc. (TSXV: EL) ("Engagement Labs") are pleased to announce that DGTL has completed its previously announced acquisition of Engagement Labs by way of a plan of arrangement (the "Arrangement").

Transaction Details

News Provided by Newsfile via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×