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RealNetworks Announces Support for Acquisition of Rhapsody International, Inc. by MelodyVR Group PLC

SEATTLE, Aug. 24, 2020 /PRNewswire/ — RealNetworks, Inc. (Nasdaq: RNWK) today announced its support for the acquisition of Rhapsody International, Inc., which does business as Napster, by MelodyVR Group PLC. RealNetworks is the majority owner of Napster, with an approximate 84% stake….

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SEATTLE, Aug. 24, 2020 /PRNewswire/ — RealNetworks, Inc. (Nasdaq: RNWK) today announced its support for the acquisition of Rhapsody International, Inc., which does business as Napster, by MelodyVR Group PLC. RealNetworks is the majority owner of Napster, with an approximate 84% stake. MelodyVR Group PLC, the leading creator of live virtual reality music experiences, intends to combine its MelodyVR subsidiary with Napster to create a new differentiated entity. The acquisition is expected to close in the fourth quarter of 2020.

“Rhapsody and Napster have travelled a long and winding road,” said Rob Glaser, Chairman and CEO of RealNetworks and Chairman of Napster. “We first became involved with Rhapsody when we acquired Listen.com in 2003, and then Rhapsody acquired Napster in 2011. We are proud of our stewardship of this pioneering business and iconic brand, and grateful for the hard work by the entire Napster team to keep the torch alive all of these years. We’re delighted to pass the baton to Anthony Matchett and the innovative team at MelodyVR. We’ll continue to root for Napster and are pleased that we’ll be ongoing stakeholders in MelodyVR’s success.”

“Going forward, Real will continue to focus the operations of Real on our primary growth initiatives, such as our SAFR computer vision platform and our GameHouse free-to-play casual games business,” Glaser continued. “We will also continue to nurture innovation, for example our Scener watch party service and platform.”

Rhapsody was the first on-demand streaming music service to offer monthly subscribers unlimited access to a massive library of digital music. It was also the first music service to provide content from the top five major record labels of the time. RealNetworks acquired the Rhapsody service in August of 2003. In 2010 Rhapsody began operating as an independent entity, rebranding itself in 2016 as Napster, followed by a pivot to the “Powered by Napster” B2B strategy, which focused on selling the Napster music Platform-as-a-Service.

The Napster platform began 2020 with over 3 million users on four continents, delivering more than 90 million licensed tracks to consumers and the many B2B and Platform-as-a-Service partners. It served 10.8 billion streams in 2019 with revenues of $113 million.

The price of the acquisition is approximately $70M, comprising $15M in cash, $11M in MelodyVR stock, and assumption by MelodyVR of approximately $44M in payment obligations, primarily to various music industry entities. Consideration payable to RealNetworks is subject to a $3M escrow and certain further indemnity claims, as well as contingent consideration obligations associated with its acquisition of Columbus Nova’s 42% stake in Napster in January of 2019. Real intends to provide additional details regarding the expected economic benefits to Real of this transaction at its Q3 earnings call in early November, or sooner if the MelodyVR transaction closes before then.

About RealNetworks
Building on a legacy of digital media expertise and innovation, RealNetworks has created a new generation of products that employ best-in-class artificial intelligence and machine learning to enhance and secure our daily lives. SAFR (www.safr.com) is the world’s premier facial recognition platform for live video. Leading in real-world performance and accuracy as evidenced in testing by NIST, SAFR enables new applications for security, convenience, and analytics. For information about our other products, visit www.realnetworks.com.

RealNetworks is a registered trademark of RealNetworks, Inc. All other trademarks, names of actual companies and products mentioned herein are the property of their respective owners.

For More Information:

Investor Relations for RealNetworks
Kimberly Orlando, Addo Investor Relations
310-829-5400
[email protected]
RNWK-F

SOURCE RealNetworks, Inc.

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http://www.realnetworks.com/

Source: https://www.prnewswire.com:443/news-releases/realnetworks-announces-support-for-acquisition-of-rhapsody-international-inc-by-melodyvr-group-plc-301117523.html

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Tata Consultancy Services (TCS) Partners With dotin Inc. to Create Workforce Insight Solution

Tata Consultancy Services (TCS) has partnered with dotin Inc., Talent Lifecycle Management AI Platform, to create a proprietary Workforce Analytics solution for today’s Digital-embracing organizations.

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Tata Consultancy Services (TCS) has partnered with dotin Inc., Talent Lifecycle Management AI Platform, to create a proprietary Workforce Analytics solution for today’s Digital-embracing organizations.

Press Release updated: Oct 24, 2020 09:14 PDT


Tata Consultancy Services (TCS) announces the release of its newest workplace experience solution, TCS Workforce Analytics. Created in partnership with dotin Inc., TCS Workforce Analytics is a unified system of engagement, insights, and foresight for employees, managers, and CxOs, designed to enable avenues for enhanced productivity and superior workforce experience.

TCS has leveraged dotin Inc.’s AI engine with respect to talent engagement along with its own technology that focuses on wellness, leadership, development, and compliance to create TCS Workforce Analytics. The goal of the technology is to connect employees to the right opportunities within an organization through analysis of various skills and personality traits, thereby giving employers a deeper understanding of their workforce.

The solution uses AI, machine learning, and natural language processing techniques to objectively evaluate the skills, personality traits, strengths, culture compatibility, workplace values, and learning style of an individual. It enables the organization to identify individual traits related to team constitution, leadership development, career management, performance development, and safety and wellness interventions.

“Our AI engine analyzes the subconscious influences that determine an employee’s positive core motivations and personality, including their resiliency,” said dotin Inc. founder Ganesh Iyer. “Partnership with TCS will enable us to capture the true personality, evolving skills, and resilience of every member of your organization, without introducing bias or subjectivity, at scale to enable seamless talent life cycle management.”

The technology seamlessly integrates with existing human capital and resource management systems, ensuring adherence to GDPR and FERPA guidelines while creating a single source of truth. Not only can it optimize ROI across HR life cycle interventions, but it democratizes analytics for the entire workforce and enriches employee experience by driving positive organizational citizenship behavior. 

“We designed TCS Workforce Analytics to scale beyond the spectrum of HR and cover all dimensions of the workforce in an enterprise,” said TCS Vice President & Global Head of Analytics & Insights, Dinanath Kholkar. “In the post-pandemic New Normal, it is becoming a very critical component to ensure that the enterprise stays relevant to its customers. This solution will accelerate and revolutionize the digitization of an organization’s workforce management.”

The combination of dotin Inc. and TCS technologies has yielded significant results for early adopters. Performance analysis of more than 1,300 sales and credit officer hires found a 2.5x increase in productivity when using the new TCS Workforce Analytics solution compared to traditional HR methodologies.

About TATA Consultancy Services (TCS)

Tata Consultancy Services is an IT services, consulting, and business solutions organization that has been partnering with the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology, and engineering services and solutions. This is delivered through its unique Location Independent AgileTM delivery model, recognized as a benchmark of excellence in software development. For more information, visit www.tcs.com.

About dotin Inc.

dotin Inc. is a personality DNA company that uses artificial intelligence to improve matches between employers and employees and enhance workforce development. Recognized for their real-time ability to leverage cognitive and skill insights in the workplace and across markets, dotin is making a tangible impact on the way HR professionals source and screen talent, up-skill and engage teams, and manage business growth. For more information visit https://dotin.us.

Media Contacts

For more information, please contact TCS at arushie.sinha@tcs.com or dotin Inc. at info@dotin.us.

Source: dotin Inc.

Source: https://www.newswire.com/news/tata-consultancy-services-tcs-partners-with-dotin-inc-to-create-21242269

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TK60 Eliminates Human Coronavirus In 30 Seconds, 4x Faster Than Lysol, Independent Laboratory Confirms

DALLAS, Oct. 24, 2020 /PRNewswire/ — Today, R-Water announces the results of an independent study conducted by Microchem Laboratory. The laboratory testing confirms that R-Water’s one-step healthcare-grade disinfectant, TK60, kills COVID-19 in just 30 seconds. This far surpasses the…

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DALLAS, Oct. 24, 2020 /PRNewswire/ — Today, R-Water announces the results of an independent study conducted by Microchem Laboratory. The laboratory testing confirms that R-Water’s one-step healthcare-grade disinfectant, TK60, kills COVID-19 in just 30 seconds. This far surpasses the Environmental Protection Agency (EPA) requirement of 10 minutes.

TK60 is hypoallergenic and produced on-site via a patented device that can produce up to 300 gallons each day. The active ingredient in TK60 is hypochlorous acid (HOCl), the same compound naturally produced by white blood cells to fight infections.

Microchem Laboratory independently verified that TK60 eliminated 99.997% of human coronavirus in 30 seconds. Microchem’s complete report can be accessed here

Brian Garrabrant, Assistant Director of Environmental Services at Friendship Village of Dublin, a premier senior independent living and retirement community, said, “If we could get R-Water in every facility, everywhere, we’d be able to squash this Coronavirus outbreak.”

The EPA requires the testing of a specific hard to kill gram negative and gram positive bacteria for a product to qualify as a one-step healthcare-grade disinfectant. A product must show 98.3% efficacy against these pathogens in a 10-minute contact time. Contact time is the amount of time a product must remain wet on a surface to be effective. Impressively, TK60 achieved 100% efficacy in one minute. See TK60’s results on page 15 here.

The Centers for Disease Control (CDC) recommends using products with the shortest possible contact time. Of over 500 products listed on the EPA’s N-List, only 24 can claim a 30 second contact time against COVID.  Unfortunately, all 24 products have health and environmental risks and must be shipped to the end user. Aggressively used consumer products have extended contact times. Lysol, for example, requires 2 minutes to be effective against COVID.  

Although TK60 exceeds EPA standards for efficacy and safety, the agency excludes disinfectants produced by on-site devices from the N-List, contributing to the issue of supply chain shortages.

“I am so glad to have R-Water in our facility when reliability and capacity are so important. As we closely monitor our supplies and distribution networks, it’s comforting to know we are able to perform these crucial tasks without the possibility of a backordered product,” shared Liz Shelton, Administrative Director of Hospital Operations at CHRISTUS Trinity Mother Francis.

Rayne Guest, Founder and CEO of R-Water states, “We want communities to have access to the solution. Nurses are being given bottles of TK60 for personal use throughout their day. Extended care facilities are providing it to their residents and workers to take home, and people are in turn giving the product to their local churches. We encourage consumers and corporate decisionmakers to review lab reports so they can make an informed choice on the products they use and the proper way to use them.”

About Microchem Laboratory
Microchem Laboratory specializes in the testing of disinfectants, sanitizers, antimicrobial devices, medical devices, and personal care products. The Lab is ISO 17025 accredited and offers testing in compliance with current Good Laboratory Practice (GLP) regulations as stipulated by EPA and the Federal Drug Administration (FDA).

About R-Water
R-Water is a disabled woman-owned business based in San Marcos, Texas. R-Water’s computerized device gives hospitals, hotels, cruise ships, office buildings, restaurants, schools, and other facilities the power to produce cutting-edge cleaning and disinfecting solutions on-site. To learn more about how you can protect yourself against the threat of COVID-19, visit www.r-water.com or contact [email protected].

SOURCE R-Water, LLC

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Source: https://www.prnewswire.com:443/news-releases/tk60-eliminates-human-coronavirus-in-30-seconds-4x-faster-than-lysol-independent-laboratory-confirms-301159126.html

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(GOCO) ALERT: GoHealth Investors Reminded of Class Action Deadline; Investors with Losses Over $100,000 Encouraged to Contact Firm – Johnson Fistel, LLP

SAN DIEGO, Oct. 24, 2020 /PRNewswire/ — Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of shareholders of GoHealth, Inc. (NASDAQ: GOCO) Class A common stock pursuant and/or traceable to the registration statement issued in connection with GoHealth’s…

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SAN DIEGO, Oct. 24, 2020 /PRNewswire/ — Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of shareholders of GoHealth, Inc. (NASDAQ: GOCO) Class A common stock pursuant and/or traceable to the registration statement issued in connection with GoHealth’s July 2020 initial public offering (the “IPO”). GoHealth provides an end-to-end health insurance marketplace that purportedly specializes in matching consumers with Medicare Advantage plans.

[Click here to join this action]

On June 19, 2020, GoHealth filed with the SEC a registration statement for the IPO on Form S-1 (the “Registration Statement”), which was used to sell to the investing public 43.5 million shares of GoHealth Class A common stock at $21 per share, for total gross proceeds of $913.5 million.

The complaint alleges that the Registration Statement was negligently prepared and, as a result, contained untrue statements of material fact, omitted material facts necessary to make the statements contained therein not misleading, and failed to make necessary disclosures required under the rules and regulations governing its preparation. Specifically, the Registration Statement failed to disclose that at the time of the IPO: (i) the Medicare insurance industry was undergoing a period of elevated churn, which had begun in the first half of 2020; (ii) GoHealth suffered from a higher risk of customer churn as a result of its unique business model and limited carrier base; (iii) GoHealth suffered from degradations in customer persistency and retention as a result of elevated industry churn, vulnerabilities that arose from the Company’s concentrated carrier business model, and GoHealth’s efforts to expand into new geographies, develop new carrier partnerships and worsening product mix; (iv) GoHealth had entered into materially less favorable revenue sharing arrangements with its external sales agents; and (v) these adverse financial and operational trends were internally projected by GoHealth to continue and worsen following the IPO.

Since the IPO, the price of GoHealth Class A common stock has suffered significant price declines. By September 15, 2020, GoHealth Class A common stock closed at just $12.53 per share – over 40% below the $21 per share price investors paid for the stock in the IPO less than two months previously.

If you wish to serve as lead plaintiff in this class action, you must move the Court no later than November 20, 2020.  A lead plaintiff will act on behalf of all other class members in directing the GoHealth class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the GoHealth class-action lawsuit.  An investor’s ability to share any potential future recovery of the GoHealth class action lawsuit is not dependent upon serving as lead plaintiff.  If you are interested in learning more about the case, please contact Jim Baker ([email protected]) at 619-814-4471.  If you email, please include your phone number.

Additionally, you can [Click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia.  The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits.  For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.  Attorney advertising.  Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471 
[email protected]

SOURCE Johnson Fistel, LLP

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http://www.johnsonfistel.com

Source: https://www.prnewswire.com:443/news-releases/goco-alert-gohealth-investors-reminded-of-class-action-deadline-investors-with-losses-over-100-000-encouraged-to-contact-firm—johnson-fistel-llp-301159129.html

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