|By PR Newswire||
|October 31, 2012 06:01 AM EDT||
BURLINGTON, Massachusetts, October 31, 2012 /PRNewswire/ --
Attunity, Ltd. (NASDAQ: ATTU), a leading provider of information availability software solutions, today reported its unaudited financial results for the three month period ended September 30, 2012.
Financial Highlights for the Third Quarter of 2012:
- Total revenues increased 72% to $5.9 million in the third quarter of 2012, compared to $3.5 million for the same period last year
- License revenues increased 73% to $3.0 million in the third quarter of 2012, compared to $1.8 million for the same period last year
- Non-GAAP operating income increased 60% to $1.0 million in the third quarter of 2012, compared to $0.6 million for the same period last year
- Net income increased to an income of $43,000 in the third quarter of 2012, compared to a loss of ($792,000) for the same period last year
- Non-GAAP net income increased 90% to $0.9 million in the third quarter of 2012, compared to $0.5 million for the same period last year
- Shareholders' equity increased to $8.1 million as of September 30, 2012 compared to $5.2 million as of December 31, 2011.
Recent Operational Highlights:
- Successfully returned to trading ordinary shares on the NASDAQ Capital Market
- Closed first deal of Attunity Replicate for EMC Greenplum Big Data analytics
- Introduced Attunity Replicate to Oracle Exadata, continuing expansion into the Big Data market with Business Intelligence (BI) and enterprise analytics initiatives
- Teamed with Teradata to optimize Attunity Replicate for Big Data warehouses to enable Big Data replication
- Signed several major customer agreements for Attunity Replicate across all regions, including a major European financial institution, and a large telecommunication provider in Asia Pacific further improving its competitive advantage for Big Data with analytics
- Expanded services for Amazon Web Services (AWS) Simple Storage Service (S3) with Attunity's new data replication SaaS solution, providing disaster recovery, backup and data distribution between different AWS regions
- Awarded the #1 Data Replication Innovator distinction on the "Top 40 Companies We're Watching" List from Information Management Magazine.
We are quickly gaining market share and becoming a go-to-provider of replication software solutions amid growing demand from new customers deploying Big Data warehouses for Big Data analytics. These customers are quickly recognizing the value and the advantages our solutions offer and have often chosen Attunity over other Big Data replication solution in today's market," stated Mr. Shimon Alon, Chairman and CEO of Attunity. "We are pleased to report a 72% increase in revenue compared to the third quarter of 2011. This strength in market demand for our solutions is also resulting in a continuous rise in our average sales price for our replication products. And, while the third quarter is generally our weakest quarter of the year due to the seasonality of our business, we continue to demonstrate strong growth and profitability on a year-over-year basis. As a result, we expect our fourth quarter to be the strongest this year in terms of record quarterly revenues and profits."
"The Attunity Replicate has led to several new industry partnership and collaborations, including EMC Greenplum, Teradata, HP Vertica and Action Vectorwise, who have recognized the critical need and value of our solutions to enhance their BI and Big Data analytics capabilities. I am pleased that we already closed the first deal of Replicate for EMC Greenplum just several weeks after its introduction in the beginning of the third quarter. Additionally, we have launched the public beta of our SaaS upload and replication solutions for the cloud for Amazon Web Services (AWS) Simple Storage Service (S3), and will showcase these solutions with AWS in the November 2012 AWS re: Invent Conference, including new solutions for data automation and management for cloud replication."
Mr. Alon concluded, "Since our successful listing on NASDAQ, we have seen increased interest in the company from the capital markets, as demonstrated by our invitations to more investor conferences and general excitement within the investment community. We are also excited by the growth potential from the recent deals we have closed. And we believe our penetration of the Big Data and BI markets will increase as our offerings now include solutions for major Big Data warehouse players, such as Oracle Exadata, Teradata and EMC Greenplum. As we look to the future, several of our new solutions for the Cloud and Big Data are expected to generate a new stream of customers in 2013."
Financial Results for Q3 2012
Total revenues for the third quarter of 2012 increased 72% to $5.9 million, compared to $3.5 million for the same period of 2011. This included license revenues for the third quarter of 2012, which increased 73% to $3.0 million, compared to $1.8 million for the same period of 2011. RepliWeb products contributed $2.4 million in total revenues and $1.0 million in license revenues in the third quarter of 2012.
Net operating income for the third quarter of 2012 was $569,000, compared to an operating loss of ($407,000) for the same period of 2011.
Non-GAAP operating income for the third quarter of 2012 was $993,000, compared to $620,000 for the same period last year. Non-GAAP operating income for the third quarter of 2012 excludes equity-based compensation and amortization of software development costs totaling $197,000, compared to $163,000 for the same period last year; and $227,000 in amortization and expenses related to the acquisition of RepliWeb compared to $864,000 for the same period last year (see footnotes 1 and 2 at the end of this release).
Net income for the third quarter of 2012 was $43,000, or $0.00 per diluted share, compared to a loss of ($792,000), or ($0.10) per diluted share (adjusted to reflect the recent reverse stock split), in the third quarter of 2011.
Non-GAAP net income for the third quarter of 2012 was $865,000, compared to $456,000 for the same period last year. Non-GAAP net income for the third quarter of 2012 excludes a total of $822,000 in expenses and amortization, including $414,000 of financial expenses associated with the revaluation of liabilities presented at fair value (attributed mainly to the rise of our share price) and the revaluation of the conversion feature related to the Company's convertible debt; $227,000 in amortization and expenses associated with acquisition of RepliWeb; and $157,000 in expenses related to stock based compensation (see footnotes 1 and 2 at the end of this release).
Cash and cash equivalents were $1.7 million as of September 30, 2012, compared to $1.5 million as of December 31, 2011.
Shareholders' equity increased to $8.1 million as of September 30, 2012, compared to $5.2 million as of December 31, 2011.
See "Use of Non-GAAP Financial Information" below for more information regarding Attunity's use of Non-GAAP financial measures.
Conference Call Information
The Company's management will host a conference call today, October 31, 2012, at 10:00 a.m. Eastern Time. The dial-in numbers for the conference call are 1-866-691-3082 (US Toll Free), +1-480-629-1941 (International) or 072-273-3197 (Israel). All dial-in participants must use the following code to access the call: 4569045. Please call at least five minutes before the scheduled start time.
The conference call will be available via webcast and can be accessed through the Events section of Attunity's website, http://www.attunity.com/events, and http://www.kcsa.com, the contents of which are not part of this press release. Please allow extra time prior to the call to visit the site and download any necessary software to listen to the Internet broadcast.
For interested individuals unable to join the conference call, a replay of the call will be available through November 30, 2012 at 1-800-406-7325 (US Toll Free), +1-303-590-3030 (International) or 072-273-3198 (Israel) . Participants must use the following code to access the replay of the call: 4569045. The online archive of the webcast will be available on http://www.attunity.com/events or http://www.kcsa.com for 30 days following the call.
Attunity is a leading provider of information availability software solutions that enable access, sharing and distribution of data, including Big Data, across heterogeneous enterprise platforms, organizations, and the cloud. Our software solutions include data replication, change data capture (CDC), data connectivity, enterprise file replication (EFR) and managed-file-transfer (MFT). Using Attunity's software solutions, our customers enjoy significant business benefits by enabling real-time access and availability of data and files where and when needed, across the maze of heterogeneous systems making up today's IT environment.
Attunity has supplied innovative software solutions to its enterprise-class customers for nearly 20 years and has successful deployments at thousands of organizations worldwide. Attunity provides software directly and indirectly through a number of partners such as Microsoft, Oracle, IBM and HP. Headquartered in Boston, Attunity serves its customers via offices in North America, Europe, and Asia Pacific and through a network of local partners. For more information, visit http://www.attunity.com or our In Tune blog and join our community on Twitter, Facebook, LinkedIn and YouTube.
Use of Non-GAAP Financial Information
In addition to reporting financial results in accordance with U.S. generally accepted accounting principles, or GAAP, Attunity uses Non-GAAP measures of net income, net operating income and net income per share, which are adjustments from results based on GAAP to exclude expenses and amortization associated with the acquisition of RepliWeb net of related tax, non-cash equity based compensation charges in accordance with ASC 718, amortization of software development costs in accordance with ASC 985-20, and non-cash financial expenses such as revaluation effect of liabilities presented at fair value and convertible debt inducement expenses. Attunity's management believes the non-GAAP financial information provided in this release is useful to investors' understanding and assessment of Attunity's on-going core operations and prospects for the future. Management uses both GAAP and non-GAAP information in evaluating and operating business internally and as such has determined that it is important to provide this information to investors. The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for results prepared in accordance with GAAP.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and other Federal Securities laws. Statements preceded by, followed by, or that otherwise include the words "believes", "expects", "anticipates", "intends", "estimates", "plans", and similar expressions or future or conditional verbs such as "will", "should", "would", "may" and "could" are generally forward-looking in nature and not historical facts. For example, when we discuss our expected revenues and profits or demand for our new solutions for cloud computing, we are using a forward-looking statement. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results could differ materially from Attunity's current expectations. Factors that could cause or contribute to such differences include, but are not limited to: our reliance on strategic relationships with our distributors, OEM and VAR partners, including Microsoft; risks and uncertainties relating to the acquisition of RepliWeb, including costs and difficulties related to integration of acquired businesses, the combined companies' financial results and performance, and known or unknown contingent liabilities, including litigation, costs, tax and expenses; our liquidity challenges and the need to raise additional capital in the future; timely availability and customer acceptance of Attunity's new and existing products, including Attunity Replicate; changes in the competitive landscape, including new competitors or the impact of competitive pricing and products; a shift in demand for products such as Attunity's products; the impact on revenues of economic and political uncertainties and weaknesses in various regions of the world, including the commencement or escalation of hostilities or acts of terrorism; and other factors and risks on which Attunity may have little or no control. This list is intended to identify only certain of the principal factors that could cause actual results to differ. For a more detailed description of the risks and uncertainties affecting Attunity, reference is made to Attunity's Annual Report on Form 20-F/A for the year ended December 31, 2011, which is on file with the Securities and Exchange Commission (SEC) and the other risk factors discussed from time to time by Attunity in reports filed or furnished to the SEC. Except as otherwise required by law, Attunity undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
© 2012 Attunity Ltd. All rights reserved. Attunity is a trademark of Attunity Inc.
CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands September 30, December 31, 2012 2011 Unaudited ASSETS CURRENT ASSETS: Cash and cash equivalents $ 1,714 $ 1,484 Restricted cash 21 362 Trade receivables (net of allowance for doubtful accounts of $15 at September 30, 2012 and December 31, 2011) 3,036 1,988 Other accounts receivable and prepaid expenses 260 158 Total current assets 5,031 3,992 LONG-TERM ASSETS: Other long term assets 89 72 Severance pay fund 2,740 2,684 Property and equipment, net 421 380 Intangible assets ,net 2,084 2,854 Goodwill 13,050 13,011 Total long-term assets 18,384 19,001 Total assets $ 23,415 $ 22,993
CONSOLIDATED BALANCE SHEETS U.S. dollars in thousands except share data September December 30, 31, 2012 2011 LIABILITIES AND SHAREHOLDERS' EQUITY Unaudited CURRENT LIABILITIES: Current maturities of long-term convertible debt $ - $ 835 Current maturities of long-term debt 6 115 Trade payables 423 452 Deferred revenues 4,835 5,733 Employees and payroll accruals 2,015 2,151 Accrued expenses and other current liabilities 1,016 1,906 Bifurcated conversion feature , presented at fair value - 227 Contingent payment obligation 1,867 - Total current liabilities 10,162 11,419 LONG-TERM LIABILITIES: Contingent payment obligation - 1,669 Long term deferred tax liability, net 309 352 Other long-term liabilities 329 388 Liabilities presented at fair value 766 510 Accrued severance pay 3,742 3,467 Total long-term liabilities 5,146 6,386 SHAREHOLDERS' EQUITY: Share capital - Ordinary shares of NIS 0.4 par value - Authorized: 32,500,000 shares at September 30, 2012 and December 31, 2011 Issued and outstanding: 10,882,902 shares at September 30, 2012 and 9,987,777 at December 31, 2011 1,225 1,146 Additional paid-in capital 109,967 107,572 Accumulated other comprehensive loss (671) (690) Accumulated deficit (102,414) (102,840) Total shareholders' equity 8,107 5,188 Total liabilities and shareholders' equity $ 23,415 $ 22,993
*) On July 19 2012, the Company performed a reverse stock split of the Company's ordinary shares of four (4) for one (1).
The earning per share amounts and the share data presented for all prior periods were restated to reflect the effects of the reverse stock split.
CONSOLIDATED STATEMENTS OF OPERATIONS U.S. dollars in thousands, except per share data 9 months ended 3 months ended September 30, September 30, 2012 2011 2012 2011 Unaudited Unaudited Unaudited Unaudited Software licenses $ 10,185 $ 4,959 $ 3,044 $ 1,754 Maintenance and services 8,227 4,499 2,892 1,697 18,412 9,458 5,936 3,451 Operating expenses: Cost of revenues 1,747 966 574 353 Research and development 5,827 2,741 1,899 1,161 Selling and marketing 6,964 3,576 2,151 1,338 General and administrative 2,274 2,112 743 1,006 Total operating expenses 16,812 9,395 5,367 3,858 Operating Income / (Loss) 1,600 63 569 (407) Financial expenses , net 1,046 376 489 329 Income / (loss) before income taxes 554 (313) 80 (736) Taxes on income 128 122 37 56 Net income / (loss) $ 426 $ (435) $ 43 $ (792) Basic net income / (loss) per share $ 0.04 $ (0.05) $ 0.00 $ (0.09) Weighted average number of shares used in computing basic net income per share 10,506 8,426 10,752 8,578 Diluted net income / (loss) per share 0.04 $ (0.06) $ 0.00 $ (0.10) Weighted average number of shares used in computing diluted net income per share 11,782 8,426 12,356 8,578
*) On July 19, 2012, the Company performed a reverse stock split of the Company's ordinary shares of four (4) for one (1).
The earning per share amounts and the share data presented for all prior periods were restated to reflect the effects of the reverse stock split.
CONSOLIDATED STATEMENTS OF CASH FLOWS U.S. dollars in thousands 9 months ended September 30, September 30, 2012 2011 Unaudited Unaudited Cash from operating activities: Net Income /( loss) $ 426 (435) Adjustments required to reconcile net income ( loss) to net cash provided by (used in) operating activities: Depreciation 168 80 Stock based compensation 481 221 Amortization of intangible assets 770 328 Accretion of contingent payment obligation 199 8 Convertible debt inducement expenses 108 - Increase (decrease) in accrued severance pay, net 219 (4) Decrease (increase) in trade receivables (1,048) 352 Decrease ( increase) in other accounts receivable and prepaid expenses (127) 71 Increase in other long term assets (17) (11) Increase (decrease) in trade payables (29) 7 Increase (decrease) in deferred revenues (898) 2,827 Increase (decrease) in employees and payroll accruals (136) 178 Increase (decrease) in accrued expenses and other liabilities (890) 1,217 Change in liabilities presented at fair value 742 76 Change in deferred taxes, net (77) - Net cash provided by (used in) operating activities (109) 4,915 Cash flows from investing activities: Purchase of property and equipment (209) (117) decrease (increase) of restricted cash 341 (192) Cash paid in connection with the acquisition ,net of acquired cash - 1,499 Net cash provided by investing activities 132 1,190 Cash flows from financing activities: Receipt of short term bridge loan to finance the acquisition - 3,000 Repayment of bridge loan - (3,000) Proceeds from exercise of stock options, warrants and rights 475 240 Receipt of long term loan - 57 Repayment of long-term debt (109) (785) Repayment of convertible debt (138) (184) Net cash provided by (used in) financing activities 228 (672) Foreign currency translation adjustments on cash and cash equivalents (20) 34 Increase in cash and cash equivalents 230 5,467 Cash and cash equivalents at the beginning of the period 1,484 872 Cash and cash equivalents at the end of the period $ 1,714 6,339 Supplemental disclosure of cash flow activities: Cash paid during the period for: Interest $ 225 63 Income tax $ 234 - Non cash activity Conversion of convertible debt and bifurcated conversion feature $ 630 - Shares Issued as part of the acquisition - 2,500
RECONCILIATION OF SUPPLEMENTAL NON-GAAP FINANCIAL INFORMATION U.S. dollars in thousands, except per share data 9 months ended 3 months ended September 30, September 30, 2012 2011 2012 2011 September 30, September 30, September 30, September 30, Unaudited Unaudited Unaudited Unaudited GAAP operating Income / (loss) $ 1,600 $ 63 569 $ (407) Stock based compensation (1) 481 221 157 76 Amortization of Software Development Costs 152 278 40 87 Acquisition-related expenses, amortization and adjustments (2) 740 864 227 864 Non-GAAP operating Income $ 2,973 $ 1,426 993 $ 620 GAAP net Income 426 (435) 43 (792) Stock based compensation (1) 481 221 157 76 Amortization of Software Development Costs 152 278 40 87 Acquisition-related expenses, amortization and adjustments (2) 740 864 227 864 Revaluation of liabilities presented at fair value 850 (224) 414 (87) Acquisition related financial expense 199 308 66 308 Tax related to the acquisition (247) - (82) - Non-GAAP net Income $ 2,601 $ 1,012 865 $ 456 GAAP diluted net Income (loss) per share: 0.04 (0.05) 0.00 (0.09) Operating expenses GAAP 0.12 0.16 0.03 0.12 Financial expenses 0.09 0.01 0.04 0.03 Taxes on income (0.02) - (0.01) - Non-GAAP diluted net Income per share $ 0.22 $ 0.12 0.07 $ 0.05 Weighted average number of shares used in computing diluted net income per share 11,782 8,426 12,356 8,578 (1)Stock-based compensation expenses under ASC 718 included in: Research and development 219 72 98 29 Selling and marketing 132 70 56 26 General and administrative 130 79 3 21 $ 481 $ 221 157 $ 76 (2)Operating acquisition-related expenses, amortization and adjustments: Valuation adjustment on acquired deferred services revenue 122 7 21 7 Cost of Sales - Amortization of technology 419 22 140 22 Carve-out to RepliWeb employees - 386 - 386 Selling and marketing - Amortization of customers relationship 199 28 66 28 General and administration - Acquisition expenses - 421 - 421 $ 740 $ 864 227 $ 864 (3)Total Acquisition-Related Expenses: Acquisition-related expenses, amortization and adjustments - Note 2 740 864 227 864 Accretion of contingent payment obligation 199 8 66 8 Fair value of carve out feature related to warrants - 300 - 300 Tax related to the acquisition (247) (82) $ 692 $ 1,172 211 $ 1,172
*) On July 19,2012, the Company performed a reverse stock split of the Company's ordinary shares of four (4) for one (1).
The earning per share amounts and the share data presented for all prior periods were restated to reflect the effects of the reverse
For more information, please contact:
Dror Harel-Elkayam, CFO
SOURCE Attunity Ltd
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Nov. 28, 2014 05:00 PM EST Reads: 1,258
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
Nov. 27, 2014 04:00 PM EST Reads: 1,341
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
Nov. 27, 2014 04:00 PM EST Reads: 1,676
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
Nov. 27, 2014 03:00 PM EST Reads: 1,500
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
Nov. 27, 2014 03:00 PM EST Reads: 1,350
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Nov. 27, 2014 01:00 PM EST Reads: 1,699
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Nov. 27, 2014 11:00 AM EST Reads: 1,314
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
Nov. 27, 2014 10:00 AM EST Reads: 1,253
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, described an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device experiences grounded in people's real needs and desires.
Nov. 27, 2014 08:00 AM EST Reads: 1,270
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
Nov. 27, 2014 07:45 AM EST Reads: 1,547
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Nov. 27, 2014 07:00 AM EST Reads: 1,522
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Nov. 27, 2014 06:45 AM EST Reads: 1,419
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
Nov. 27, 2014 06:45 AM EST Reads: 1,354
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) i...
Nov. 27, 2014 04:00 AM EST Reads: 1,264
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 27, 2014 04:00 AM EST Reads: 1,217
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
Nov. 26, 2014 02:00 PM EST Reads: 1,648
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Nov. 24, 2014 07:00 PM EST Reads: 1,741
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
Nov. 24, 2014 12:00 PM EST Reads: 1,639
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Nov. 24, 2014 11:00 AM EST Reads: 1,773
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
Nov. 24, 2014 09:00 AM EST Reads: 1,807