SANTA MONICA, Calif., July 24, 2020 /CNW/ -- Arrowroot Capital Management, LLC ("Arrowroot"), a global growth equity firm in Santa Monica California, today announced the sale of its interest in portfolio company SocialChorus, Inc. ("SocialChorus"), the leader in end-to-end employee communications and engagement software solutions, to Sumeru Equity Partners L.P. ("Sumeru"). Arrowroot will continue to own a minority interest in the company.
Since Arrowroot's initial investment in 2018, SocialChorus has successfully evolved from an employee social advocacy solution into a mission-critical enterprise workforce communications platform for the world's largest companies with global, disparate workforces.
With Arrowroot's partnership, SocialChorus made significant investments in technology, grew its sales & marketing headcount, and expanded its global presence.
"I want to thank the team at Arrowroot for believing in us," said Gary Nakamura, CEO of SocialChorus. "We've enjoyed working with Arrowroot and their operating consultants (SRG) over the years and are excited to continue to call them friends and partners for many years to come."
"In late 2017, we met with Gary and team and were deeply impressed with their early leadership position in this increasingly crucial and urgent market," said Kareem El Sawy, Partner at Arrowroot Capital and Board Member of SocialChorus. "Since then, we have had the privilege of partnering with a top tier management team and seen them rapidly execute on their goal of becoming the global leader in employee communications and engagement software."
GCA Advisors, LLC acted as lead financial advisor to SocialChorus for this transaction.
About Arrowroot Capital
Arrowroot Capital is a global growth equity firm based in Santa Monica, CA, focused on minority, majority, and buyout investments in B2B software companies. The firm serves as a catalyst for growth-related initiatives by partnering with management and leveraging its deep enterprise software expertise to deliver meaningful, tangible value. Learn more at www.arrowrootcapital.com.
SocialChorus is the leading workforce communications platform that empowers companies to work as one. We've built the only end-to-end solution that can reach, inform, and align every employee from the shop floor to home office. Employees get what they need, communicators and leaders focus on the message, and the platform takes care of the rest. Learn more at www.socialchorus.com.
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SOURCE Arrowroot Capital Management, LLC
French economist Benoît Cœuré (L) and Irish economist Philip Lane (R), Members of the Executive Board of the ECB
Corbis Images/Getty ImagesEuropean governments are spending trillions to protect their economies against the coronavirus pandemic, but their debt burden is sustainable, according to European Central Bank chief economist Philip Lane.
"Yes, there will be more public debt at the end of this, but in fact that is the correct response to this type of pandemic emergency," Lane told Portuguese broadcaster RTP3 in an interview on Monday.
Low interest rates in the eurozone mean the cost of payments on this debt burden will be contained for years to come, Lane said.
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European governments are racking up debt in order to shield their economies from the impact of the coronavirus pandemic, but low interest rates mean this burden is sustainable, in stark contrast to conditions a decade ago that triggered the region's borrowing crisis, European Central Bank chief economist Philip Lane said on Monday.
Lane told Portuguese broadcaster RTP3 in an interview that while the pandemic was a large shock, it was temporary in nature and fiscal support - in the form of cheap borrowing conditions - was the correct response.
"Yes, there will be more public debt at the end of this, but in fact that is the correct response to this type of pandemic emergency," Lane said, according to a transcript of the interview.
Coronavirus has killed well over a quarter of a million people across the whole of Europe and plunged the region into recession. In response, the ECB has kept interest rates at zero in order to keep credit flowing to businesses and households, while national governments are spending trillions in employment support schemes and other benefits to prevent total economic collapse.
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Even though public debt across the euro zone will easily reach 100% of gross domestic product, the prospect of a repeat of the sovereign debt crisis of 2010-2012 is very remote, Lane said.
"Across Europe there will be significant increase in public debt, but when you look at the very low interest rates right now, the cost of making the payments on this debt in the years to come will be quite contained. If you look at the market, the market also thinks that this can be handled," Lane said.
"There is no reason to believe that this has some kind of intrinsic dynamic that will lead us to a return of the conditions of ten years ago," he added.
Yields on German 10-year bonds, widely regarded as the safest in the region, are around -0.55%, while those on nations perceived to be riskier, such as Italy or Greece, are trading at between 0.60 and 0.70%. At the height of the crisis in late 2011, the yield on Italian bonds was closer to 7.0% and that on Greek debt hit 38%.
"We heard from the ECB Chief Economist Philip Lane overnight as he reaffirmed that the ECB will provide enough monetary stimulus at its next meeting to make sure governments, companies and households have access to cheap credit throughout the coronavirus crisis. He added that, "Our orientation is to keep financing conditions favorable," Deutsche Bank strategist Jim Reid said in a note.
The ECB's €1.35 trillion bond-buying programme, together with a number of other policy tools also helps provide a safety net for sovereign issuers.
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SANTA CLARA, Calif. and BLOOMINGTON, Minn., Nov. 18, 2020 (GLOBE NEWSWIRE) -- SkyWater Technology, the trusted technology realization partner, and Multibeam Corporation, the maskless lithography technology leader, today disclosed a partnership to deploy Multibeam’s Multicolumn Electron-Beam Lithography (MEBL) system into SkyWater’s newly expanded fabrication facility in support of SkyWater’s roadmap to advance its manufacturing capabilities and accelerate growth. The ground-breaking MEBL system, set to launch in 2021, will be capable of full-wafer, all-maskless patterning at 45 nm and beyond.
“As a Trusted Foundry, we take great pride in meeting stringent security and quality criteria,” said Thomas Sonderman, President/CEO of SkyWater. “We seek innovative solutions that can add high value while reducing manufacturing cost and cycle times; MEBL’s deployment will benefit all of our customers, both government and commercial. Further, this key capability will support SkyWater’s pursuit of a unique foundry offering by combining the flexibility and agility of 200 mm manufacturing with the advanced performance of 45 nm process technology.”
According to David K. Lam, Chairman/CEO of Multibeam, SkyWater represents a showcase customer that can take full advantage of MEBL’s high-mix production capabilities. He noted that MEBL greatly simplifies patterning processes, adding, “In product development, MEBL cuts prototyping cost and time because ‘respins’ no longer require a new set of masks. Since all e-beam columns in our MEBL system write independently and in parallel, they empower production of multi-project wafers and chips larger than the typical optical field of view. Our versatile MEBL system design has a throughput capability that extends significantly beyond single e-beam approaches to support volume manufacturing.”
Security LithographyAs a proprietary maskless platform, MEBL can be applied to ensure “security lithography" by embedding unique security information into each IC during routine wafer fabrication. Multibeam’s Secure Chip ID enables chip traceability throughout its lifecycle as well as the confirmation of its unique identity and provenance. Technology development is well under way for the MEBL platform to hardcode unique chip ID into each IC during fabrication – a most secure and cost-efficient way to thwart IC counterfeiting.
About SkyWater TechnologySkyWater is the only U.S.-owned and U.S.-based pure play semiconductor foundry and is a DOD-accredited Trusted supplier, specializing in custom technology development services and volume manufacturing for integrated circuits and micro devices. Through its Technology Foundry model, SkyWater’s world-class operations and unique processing capabilities enable mixed-signal CMOS, power, rad-hard and ROIC solutions. SkyWater’s Advanced Technology Services empower development of superconducting and 3D ICs, along with carbon nanotube, photonic and MEMS devices. The company serves customers in growing markets such as aerospace & defense, automotive, biomedical, cloud & computing, consumer, industrial and IoT. For more information, visit: www.skywatertechnology.com/.
About Multibeam CorporationMultibeam is a leader in multicolumn electron-beam lithography (MEBL). With a robust IP portfolio comprising 43 patents, Multibeam is building MEBL production systems and developing applications under DoD contracts. The company targets applications such as high-mix production lithography, complementary e-beam lithography (CEBL), security lithography, and applications in which MEBL holds competitive advantages and offers compelling benefits to semiconductor chipmakers. Multibeam is led by David K. Lam, the founder and first CEO of Lam Research. Widely recognized as a key contributor to the growth of the semiconductor industry, Lam was inducted into the Silicon Valley Engineering Hall of Fame in 2013. For more information, visit: www.multibeamcorp.com