H.I.G. Capital gets assets of Xtera Communications

H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over EUR 20bn of equity capital under management, has acquired substantially all the assets of Xtera Communications, Inc., a provider of innovative and bespoke sub-sea fiber optic solutions, the company said.

H.I.G. previously provided debtor-in-possession financing to the Xtera debtors in connection with the chapter 11 case.

Established in 1998 and based in the UK (Harold Wood, Essex) and the US (Allen, Texas), Xtera supplies un-repeatered and repeatered sub-sea systems, using high performance optical amplifiers to carry data.

Under H.I.G.´s ownership, Xtera´s management and technical team will remain at the helm of the business, focused on successfully executing key existing customer contracts and expanding the business in the rapidly growing markets it serves with a clear roadmap of disruptive product launches.

Xtera is an innovative provider of sub-sea telecoms solutions and carries an extensive portfolio of intellectual property. The company supplies both un-repeatered and repeatered systems, using its high performance optical amplifiers to deliver traffic directly inland to cities.

Xtera creates novel solutions that are suited for each individual customer whether that be provision of a full turnkey system, an open architecture design or supply of a particular product or service.

H.I.G. is a global private equity and alternative assets investment firm based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the US, as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach. The firm´s current portfolio includes more than 100 companies with combined sales in excess of USD30bn.

IsItUp.com fixed asset solution chosen by AirAsia

IsItUp.com, a mobile and Software-as-a-Service (SaaS) fixed asset management platform has been appointed by AirAsia Berhad to optimise the management and life cycle of their fixed assets across all its operations, the company said.

Based in both Malaysia and Singapore, IsItUp.com is a platform that enables companies to track and manage company assets in a cost-effective and decentralised way across thousands of users and tens of thousands of assets. The service offers corporations a two-pronged approach to fixed asset management via its cloud platform, and through the value added service of helping companies organise their fixed assets data with advanced tracking technology.

AirAsia services over 100 destinations. Within 15 years of operations, AirAsia has carried more than 330m guests and grown its fleet from 2 aircraft to over 170. The airline is an Association of Southeast Asian Nations (ASEAN) airline with established operations based in Malaysia, Thailand, Indonesia, Philippines, India, and Japan.

IsItUp.com was developed to provide enterprises with a complete, simple, unified mobile and cloud-based asset management solution. The company also offers onsite onboarding services, including tagging and uploading all asset information to their platform, and provides QR code asset tags as well as network scanning capabilities.

IOVOX gets USD 10m in funding to invest in US expansion

Global call analytics company IOVOX Ltd. has completed a USD 10m Series A round of equity and debt financing led by Octopus Ventures, SF Capital, and Silicon Valley Bank, the company said.

IOVOX is using the new investment to expand in the United States and execute a product strategy to widen the addressable market for IOVOX services.

Co-founded in the UK by Ryan and Belinda Gallagher, IOVOX is a leading European provider of call analytics solutions. The company has recently expanded into the United States, and its office in Mill Valley, Calif., serves as a hub for its US growth plans.

IOVOX´s mission is to make data from business phone calls as useful, actionable, and valuable as email or chat. Trusted by leading brands and global customers in more than 30 countries, IOVOX delivers on its mission via call analytics and collaboration solutions.

Octopus Ventures is a London and New York based venture capital firm focused on backing unusually talented entrepreneurs. Octopus invests from GBP 250,000 to GBP 25m in a first round of funding and will look to follow in subsequent rounds, and are proud to be known as one of the most entrepreneur friendly investors in Europe.

Octopus Ventures is part of the Octopus group, one of the UK´s fastest growing investment management companies with more than GBP 5.5bn of assets under management.

Ohio and Utah are first states to approve CenturyLink – Level 3 merger

Ohio and Utah are the first states to approve the merger of CenturyLink, Inc. (NYSE: CTL) and Level 3 Communications, Inc. (NYSE: LVLT), CenturyLink said.

The merger also received regulatory clearance from the state of Nevada.

The merger, announced Oct. 31, 2016, should allow the combined companies to offer enterprise and wholesale customers a broader and more complementary range of services and solutions, positioning the combined companies to enable the advanced technology and growing bandwidth needs of all customers, including small businesses, large businesses, large multinational enterprises and government entities.

In December 2016, CenturyLink began filing applications with the appropriate federal and state regulatory agencies.

The transaction is subject to the receipt of various regulatory approvals, including review by the US Department of Justice, review by the US Federal Communications Commission, certain state regulatory approvals and other customary closing conditions.

The transaction is also subject to the approval of CenturyLink and Level 3 shareholders at special shareholders meetings scheduled for March 16, 2017. The companies anticipate closing the transaction by the end of third quarter 2017.

CenturyLink is a global communications, hosting, cloud and IT services company enablingms of customers to transform their businesses and their lives through innovative technology solutions. It offers network and data systems management, big data analytics and IT consulting, and operates more than 55 data centers in North America, Europe and Asia. The company provides broadband, voice, video, data and managed services over a robust 250,000-route-mile US fiber network and a 300,000-route-mile international transport network.

Clear Channel Airports wins contract to customize advertising for Santa Barbara Airport

City of Santa Barbara has awarded Clear Channel Airports (CCA), a division of Clear Channel Outdoor Holdings, Inc. (NYSE:CCO), and a subsidiary of iHeartMedia Inc., a 5 year contract with a 5 year extension option to provide a customized advertising network for Santa Barbara Airport (SBA), the company said.

CCA will help advertisers reach nearly 700,000 passengers annually by integrating its comprehensive media program into SBA´s new terminal. The new program installation is scheduled for the first half of 2017.

CCA´s new advertising program at SBA creates a medium for regional businesses to connect with visitors and grow regional commerce. The new digital assets will include aesthetically consistent fixtures to honor the Spanish Revival historical style of the SBA terminal.

New advertising elements will include a large format LCD display above the main arrivals escalator, a concourse level digital LCD network, and eco-friendly tension fabric displays.

Clear Channel Airports currently operates more than 250 airport programs across the globe.

ShoreTel integrates with G Suite, Google Chrome to streamline workflows

ShoreTel (NASDAQ: SHOR), a provider of communication solutions that make interactions simple, has launched ShoreTel Connect for Chrome browser, an integrated solution that delivers a unified communications experience between ShoreTel Connect, G Suite and Google Chrome, the company said.

With a new client app, users can streamline workflows and increase efficiencies with integrated contacts, events and call control.

Specifically, this integration enables users to:

Easily search for contacts by merging ShoreTel contacts with G Suite contacts into a single list.

Connect for Chrome browser lets users search through all contacts at once and initiate a call with one click.

Connect CLOUD and ONSITE users can get up and running quickly and easily by downloading the ShoreTel Connect extension from the GoogleChrome webstore.

Connect for Chrome browser is available for no additional cost to US Connect CLOUD and Connect ONSITE customers with Essentials, Standard and Advanced service or product plans.

ShoreTel provides businesses worldwide with communication solutions that make interactions simple. From business phone systems, unified communications and contact center solutions to a fully hosted voice and SMS development platform, ShoreTel delivers unmatched flexibility and ease for companies looking to increase productivity and drive innovation.

ShoreTel offers solutions in the cloud, onsite or a hybrid of both, giving customers the freedom to choose the best fit for their business needs now and in the future. Headquartered in Sunnyvale, Calif., ShoreTel has offices and partners worldwide.

Icelandair is first in Europe to operate with scimitar blended winglets on Boeing 757-200

Aviation Partners Boeing (APB) has announced that Icelandair is the first airline in Europe to install and operate with scimitar blended winglets (SBW) on its Boeing 757-200 aircraft, the company said.

The SBW uses existing blended winglet technology, but adds new aerodynamic scimitar tips and a small outboard aerodynamic trailing edge wedge, further increasing the efficiency of the airplane. The SBW modification reduces Boeing 757-200 fuel burn by up to an additional 1.1% over the blended winglets alone; together they can reduce fuel burn by more than 6%.

A retrofit enhancement to their current 757-200 blended winglets, Icelandair expects increased savings to block fuel, reduced engine maintenance, improved takeoff performance, and lower emissions, among other benefits.

The SBW replaces the standard aluminum blended winglet tip with an aerodynamically optimized, scimitar-shaped tip cap. This helps provide the additional drag benefit over the standard blended winglet configuration.

Icelandair is currently working on their 4th SBW modification and plan to have a total of 17 units in service before the 2017 summer season.

Aviation Partners Boeing is a Seattle based joint venture of Aviation Partners, Inc. and The Boeing Company.

Vectrus announces USD 14m AFCAP Task Order win

Vectrus Systems Corporation, a wholly-owned subsidiary of Vectrus, Inc. (NYSE: VEC), was awarded a USD 14m firm-fixed-price installation services task order in support of the US Air Force at Bagram Air Field in Afghanistan, the company said.

The task order, awarded under the Air Force Contract Augmentation Program IV or AFCAP IV, includes a base year and three years of potential option periods.

The contract will begin on Mar. 23, 2017. Vectrus will provide logistics services in support of the Bagram Expeditionary Logistics Readiness Squadron.

Vectrus is a leading, global government services company with a history in the services market that dates back more than 70 years. The company provides facility and logistics services, and information technology and network communication services to US government customers around the world. It is headquartered in Colorado Springs, Colo., and includes about 6,000 employees spanning 132 locations in 18 countries. In 2015, Vectrus generated sales of USD 1.2bn.

SkyWest reports January block hours down 5.4%

SkyWest, Inc., (NASDAQ: SKYW) has reported 153,663 block hours in January 2017, compared to 162,407 block hours in January 2016, a decrease of 8,744 or 5.4%, the company said.

The year-over-year net change was primarily driven by approximately 12,400 additional block hours from its E175 aircraft and a decrease of approximately 21,100 block hours from its other aircraft types.

The net decrease was consistent with SkyWest´s fleet transition plan to improve the mix of aircraft in its fleet by adding new E175 aircraft, while reducing its 50-seat jets.

In January 2017, SkyWest´s dual class aircraft represented approximately 47% of SkyWest´s total block hour production for the month compared to approximately 42% for the month of January 2016.

SkyWest had 87,467 departures in January 2017 compared to 94,605 in January 2016, a decrease of 7,138, or 7.5%. The company generated 2.67 billion available seat miles (ASMs) for January 2017, compared to 2.83 billion ASMs for January 2016, or a 5.7% decrease.

St. George, Utah-based SkyWest, Inc. is the holding company for two scheduled passenger airline operations and an aircraft leasing company. The company´s airline companies, SkyWest Airlines and ExpressJet Airlines, provide commercial air service in cities throughout North America with more than 2,800 scheduled daily flights carrying nearly 54 million passengers annually.

SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines. ExpressJet Airlines operates through partnerships with United Airlines, Delta Air Lines and American Airlines. The company has nearly 20,000 employees.

CWA ratifies agreement covering former DIRECTV employees

Leadership of the Communications Workers of America has notified AT&T (NYSE: T) that former DIRECTV tech support employees in seven states have voted to ratify an agreement between the CWA and the company, the association said.

The agreement, which was reached on January 30, covers about 500 employees in Alabama, Arizona, California, Colorado, Iowa, Minnesota, and Tennessee, and places the employees into an existing labor contract.

The former DIRECTV employees joined AT&T as part of AT&T´s July 2015 acquisition of DIRECTV.

AT&T reached, and union-represented employees ratified, 16 different labor agreements in 2016, collectively covering nearly 61,000 employees. That included nine agreements covering nearly 7,300 former DIRECTV employees.

AT&T Inc. provides telecommunications and digital entertainment services through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. AT&T Inc. was founded in 1983 and is based in Dallas, Texas.