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TAURANGA, New Zealand--(BUSINESS WIRE)--Dec 19, 2024-- Craigs Investment Partners (“Craigs” or “the Firm”), a leading wealth management firm in New Zealand, today announced that TA Associates (“TA”), a leading global private equity firm, has signed a conditional agreement to make a strategic investment in the Firm. Under the agreement, Craigs’ existing employee and director shareholders will retain 50 percent ownership of the Firm, partnering closely with TA. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241218087239/en/ “TA is an ideal partner to support Craigs’ growth ambitions and ongoing commitment to client outcomes given its significant global experience investing in wealth management, and its strong understanding of the regional market,” said Simon Tong, CEO of Craigs. “Craigs and TA are aligned on a client-first philosophy and the importance of a personalized approach to wealth management. Client outcomes remain our top priority, and there will be no change in the people or our approach to providing outstanding service to our clients.” The partnership between Craigs and TA aims to further enhance Craigs’ position as a leader in the New Zealand wealth management market while enabling its continued expansion. Leveraging over 50 years of experience helping high-quality companies grow, TA will provide deep industry knowledge, strategic resources and a robust global network to accelerate Craigs’ growth strategy. “This is an exciting opportunity that connects our local team with TA’s extensive global experience in wealth management, supporting our ability to deliver enhanced outcomes for clients in an increasingly dynamic environment. Access to TA’s international network, best practices and insights will help us elevate our services while maintaining the personalised approach that sets us apart,” Tong continued. “Over the past 40 years, Craigs has established itself as one of the largest and most respected wealth management firms in New Zealand, offering a comprehensive range of personalised wealth advice and services to its clients,” said Edward Sippel, head of TA Associates Asia Pacific Ltd. and a Managing Director at TA. “We deeply respect this history and are honoured to support the Firm’s continued growth strategy and commitment to delivering best-in-class client outcomes.” “TA has a long history of partnering with world-class wealth managers like Craigs,” said Lily Xu, Vice President at TA. “We are excited to collaborate with the entire Craigs team to expand the Firm’s reach, continue enhancing its service offerings, and explore strategic M&A opportunities.” The agreement remains subject to certain approvals being obtained, including Court approval, Craigs’ shareholder approval and Overseas Investment Office (‘OIO’) consent. Settlement is expected to occur late in the first quarter of 2025. Financial terms were not disclosed. Craigs Investment Partners Limited is a NZX Participant firm. Craigs Investment Partners Limited’s Financial Advice Provider Disclosure Statement can be viewed at craigsip.com/terms-and-conditions . Please visit craigsip.com for more information on Craigs Investment Partners financial advice services. About Craigs Investment Partners (Craigs) Craigs Investment Partners is one of New Zealand's largest investment advisory firms, offering bespoke solutions to both private investors and corporate clients. Craigs provides the complete breadth of private client and wealth management services including investment advice and management, securities trading, research, cash management, institutional dealing, and investment banking. Craigs has over 180 qualified Investment Advisers, servicing over 65,000 private wealth investors across 19 branches in New Zealand. Craigs has a team of 650 employees, $32 billion in funds under advice (“FUA”), and is currently 100% owned by employee and director shareholders. www.craigsip.com About TA Associates (TA) TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and businesses services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has more than 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20241218087239/en/ CONTACT: For more information, please contact: Craigs Investment Partners:Tania Bui |tania.bui@craigsip.com TA Associates:Maggie Benoit |mbenoit@ta.com KEYWORD: AUSTRALIA/OCEANIA NEW ZEALAND ASIA PACIFIC INDUSTRY KEYWORD: BANKING ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE SOURCE: Craigs Investment Partners Copyright Business Wire 2024. PUB: 12/19/2024 04:38 PM/DISC: 12/19/2024 04:36 PM http://www.businesswire.com/news/home/20241218087239/en Copyright Business Wire 2024.
ARLINGTON, Va., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Venture capital firm Energy Innovation Capital (EIC), global digital and AI transformation consulting firm A&MPLIFY by Alvarez and Marsal, world class engineering and research university Virginia Tech, leading cloud and AI platform Amazon Web Services (AWS), and DC region real estate owner and developer JBG SMITH today announced the launch of the Virtus Innovation Center (Virtus) in National Landing ( www.virtusinnovation.com ). While Washington, DC is the epicenter for energy policy and national security, there is untapped potential in the market and a lack of innovation programs that effectively bridge capital formation, incubation, and acceleration for early-stage companies. Once funding is secured, Virtus’ differentiated platform aims to leverage the collective expertise of its partners to provide startup companies the physical resources, capital, and strategic support they need to develop innovative national security and energy technologies. The plan for Virtus’ integrated approach includes: The Virtus Innovation Center will be an independent organization managed by a board of directors comprising sponsors and partners. It is being developed by principals from EIC and A&MPLIFY by Alavarez and Marsal. It is supported by JBG SMITH, AWS, and Virginia Tech. EIC invests across industrial and energy technologies and managing a portfolio with $350 million AUM. A&MPLIFY by Alvarez and Marsal brings its digital, AI, innovation, federal, and energy expertise. Virginia Tech provides distinguished research capabilities and human capital with critical skills, and JBG SMITH will provide the physical space for the incubator alongside high quality amenities, both physical and digital, it is delivering across the National Landing neighborhood. “Over the last 20 years the team at EIC has invested in 150 industrial technology companies enabling electrification, decarbonization, AI, autonomy, and critical technology onshoring. The convergence of these sectors has created significant national security and energy resiliency innovation opportunities,” said Andrew Lackner, Managing Partner of EIC Virtus. “The Virtus Innovation Center will enable startups to leverage DC’s defense and energy ecosystem to accelerate the commercialization of dual-use technologies. We look forward to collaborating with startups, corporations, federal agencies, and other investors to accelerate technologies critical to the national interest of the US.” “We’ve seen the success that is possible when startups and corporations work together to find better technological solutions, and Virtus Innovation Incubator is an exciting opportunity to accomplish that in an established and global industry,” said Bob Ghafouri, Co-Founder and Managing Director at A&MPLIFY by Alvarez & Marsal. “Large, forward-thinking companies are engaging successfully with startups, looking at startups as discovery arms and co-collaborators for innovation.” “With the increasing importance of supporting the growth and energy demand of Artificial Intelligence, the intersection of energy and defense has become a national security priority,” said Matt Kelly, JBG SMITH CEO. “As the incubator partner of the Virtus Innovation Center, we are well-positioned with our physical space near the Pentagon and AI infrastructure to collaborate and scale innovation across the startup community to create new solutions for defense and energy.” Virtus aims to meet the heightened demand for technological advancement in energy and security, driven by various factors including: increased geopolitical activity and the evolving complexity of physical and digital threats; the multi-decade shift to lower-carbon energy; and the exponential growth of data, large language models, data centers, and widespread digitalization across sectors that has transformed how work is done. Virtus will also directly benefit from its strategic location in National Landing, which offers a high concentration of defense-tech and adjacent industries, all of which are clustered together with immediate proximity to the Pentagon, Amazon HQ2, Virginia Tech’s $1B Innovation Campus and dozens of relevant private enterprises and government agencies, including seven of the ten largest recipients of federal defense spending. “Virginia Tech could not be more excited to collaborate with Virtus and partners to ensure cutting-edge technologies with dual-use applications including artificial intelligence, integrated communications and networking, and quantum information and sensing reach the marketplace to support the pressing needs of the nation,” said Eric Paterson, Virginia Tech National Security Institute Executive Director. “With proximity to the nation’s Capital, the institute and Innovation Campus bring vast expertise, unique research facilities, and mission-oriented initiatives, which position us to assist partners in the curation of new startups that seek to solve emerging national security challenges.” Learn more about the Virtus Innovation Center: www.virtusinnovation.com About A&MPLIFY by Alvarez & Marsal A&MPLIFY is the artificial intelligence and digital transformation unit of Alvarez & Marsal. We are marketers, product managers, technologists and data scientists from industry, consulting and technology with innovation studios across the US, Europe, Asia, Latin America, Australia and the Middle East. To learn more, visit www.a-mplify.com . About Alvarez & Marsal Founded in 1983, Alvarez & Marsal is a leading global professional services firm. Renowned for its leadership, action and results, Alvarez & Marsal provides advisory, business performance improvement and turnaround management services, delivering practical solutions to address clients' unique challenges. With a world-wide network of experienced operators, world-class consultants, former regulators and industry authorities, Alvarez & Marsal helps corporates, boards, private equity firms, law firms and government agencies drive transformation, mitigate risk and unlock value at every stage of growth. To learn more, visit AlvarezandMarsal.com . About Energy Innovation Capital (EIC) Energy Innovation Capital invests in companies that are developing industrial technologies transforming energy, national security, and resource intensive industries. EIC currently manages four venture capital funds with AUM of $350M, a corporate innovation partnership program, and an active portfolio of 33 companies. For more information, please visit www.energyinnovationcapital.com . About JBG SMITH JBG SMITH owns, operates, invests in, and develops mixed-use properties in high growth and high barrier-to-entry submarkets in and around Washington, DC, most notably National Landing. Through an intense focus on placemaking, JBG SMITH cultivates vibrant, amenity-rich, walkable neighborhoods throughout the Washington, DC metropolitan area. Approximately 75.0% of JBG SMITH's holdings are in the National Landing submarket in Northern Virginia, which is anchored by four key demand drivers: Amazon's new headquarters; Virginia Tech's under-construction $1 billion Innovation Campus; the submarket’s proximity to the Pentagon; and our retail and digital placemaking initiatives and public infrastructure improvements. JBG SMITH's dynamic portfolio currently comprises 13.1 million square feet of high-growth multifamily, office and retail assets at share, 98% of which are Metro-served. It also maintains a development pipeline encompassing 9.3 million square feet of mixed-use, primarily multifamily, development opportunities. JBG SMITH is committed to the operation and development of green, smart, and healthy buildings and plans to maintain carbon neutral operations annually. For more information on JBG SMITH please visit www.jbgsmith.com . About Virginia Tech In 1987 Virginia Tech was designated an R1 institution, which is the highest designation for research universities. With locations in Blacksburg and Roanoke, Virginia, and the Washington D.C. metro area including the Innovation Campus, Virginia Tech offers approximately 280 undergraduate and graduate degree programs to more than 38,000 undergraduate, graduate, and professional students across the commonwealth. The university’s research enterprise encompasses over $419 million in sponsored research expenditures in fiscal year 2023. Virginia Tech is one of six senior military colleges in the U.S., a National Security Agency Center for Academic Excellence in Cyber Defense Research , Center for Academic Excellence in Cyber Operations, and an Intelligence Community Center for Academic Excellence. One of the university’s seven research institutes , the Virginia Tech National Security Institute brings together transdisciplinary researchers, programs, and resources from across the university, integrating student learning and cutting-edge research at a scale unmatched by other organizations, producing research and impacting policy related to legal and practical challenges facing national intelligence, defense, law enforcement, homeland security, and cybersecurity communities that are relevant to current questions of national security law and policy and that aid senior policymakers, key departments, and agencies. Contact: Bethany Hilt hiltb@hiltstrategiccommunications.comStock market today: Wall Street ends little changed after giving up a big morning gain
Universal Entertainment Co. ( OTCMKTS:UETMF – Get Free Report ) was the recipient of a significant decrease in short interest in December. As of December 15th, there was short interest totalling 27,100 shares, a decrease of 29.1% from the November 30th total of 38,200 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is presently ∞ days. Universal Entertainment Stock Performance OTCMKTS:UETMF opened at $9.44 on Friday. The stock has a market capitalization of $757.09 million, a price-to-earnings ratio of -7.37 and a beta of 0.23. Universal Entertainment has a 1 year low of $9.38 and a 1 year high of $9.44. The stock has a fifty day moving average price of $9.44 and a two-hundred day moving average price of $10.20. About Universal Entertainment ( Get Free Report ) Featured Articles Receive News & Ratings for Universal Entertainment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Entertainment and related companies with MarketBeat.com's FREE daily email newsletter .
Trump transfers all his DJT shares to his revocable trust, SEC filings show
DAYTONA BEACH, Fla. (AP) — Aniwaniwa Tait-Jones' 21 points helped UC San Diego defeat James Madison 73-67 on Friday night. Tait-Jones also contributed six rebounds for the Tritons (4-2). Hayden Gray scored 16 points and added four steals. Nordin Kapic went 5 of 8 from the field (1 for 4 from 3-point range) to finish with 12 points. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get the latest sports news delivered right to your inbox six days a week.To recover investments and protect margins, private telcos resorted to tariff hikes in mid-year but that move backfired. New Delhi: The country's private telecom operators face twin challenges on investment recovery in the New Year – customers leaving their network after tariff hikes and satellite players mainly Elon Musk's Starlink eyeing a chunk of their bread and butter data business. Private operators have invested around Rs 70,000 crore in telecom infrastructure and radiowave assets this year to expand the coverage of next-generation 5G services which is one of the main highlights of 2024 for the sector. To recover investments and protect margins, private telcos resorted to tariff hikes in mid-year but that move backfired. Around 2 crore subscribers dropped their connections. Reliance Jio, Bharti Airtel and Vodafone Idea jointly lost 2.6 crore customers due to a 10-26 per cent price hike. Around 68 customers switched to state-run player BSNL which refrained from price hike. The loss-making PSU still offers generation-old 3G service and is on the path of rolling out 4G network across the country. Despite subscriber loss, private players need to recover investment and invest more in 5G to offer new-age services to drive future growth. According to EY India Markets and Telecom leader Prashant Singhal, the cumulative investment of Reliance Jio, Bharti Airtel and Vodafone Idea was around Rs 70,200 crore in 2024. Digital Infrastructure Providers Association (DIPA) Director General Manoj Kumar Singh says the telecom infrastructure sector looks at a cumulative investment of Rs 92,100 crore to Rs 1.41 lakh crore in 2022-2027 to support the 5G ecosystem. Union Minister Jyotiraditya Scindia also backed telecom operators on the tariff hike issue citing investments made by companies in the network. The rollout of 5G services in 2024 has paved the way for the adoption of emerging technologies like artificial intelligence which offers huge growth potential. "5G deployment has been a game-changer. We've witnessed a significant surge in 5G base transceiver stations, rising from 412,214 in December 2023 to 462,854 by November 2024,” says DIPA, whose members include Indus Towers and American Tower Corporation. Impending huge investments in 5G and maintaining healthy margins in the face of subscriber loss are not the only challenges for private telecom players. A new threat from satellite broadband service providers is staring at private telcos in the New Year. The satellite broadband sector has seen intense lobbying on the spectrum allocation issue in 2024. Private telecom operators led by Mukesh Ambani-promoted Jio have been for strongly protesting against the administrative allocation of spectrum to satellite broadband service providers like Elon Musk's Starlink. Telcos fear that allocation of radiowaves to satellite broadband providers without auction will come at a low price and make a dent in their data subscriber market share. The government's decision to allocate satcom spectrum without auction also saw political mud-slinging with opposition members equating the move with 2G spectrum case. As per the Comptroller and Auditor General of India (CAG), 2G spectrum allocation caused a notional loss of Rs 1.76 lakh crore to the national exchequer. Scindia said the country cannot forget the "2G scam" -- a blot on the country's history. "A scam that not just led to a colossal loss of Rs 1,76,645 crore to the exchequer, but also gave government-corporate collaboration its worst name, a.K.A crony capitalism," he said on X. The minister reiterated that even administrative allocation of spectrum to satcom players will be done at a price recommended by the Telecom Regulatory Authority of India (TRAI). Indian Space Association (ISpA) Director General AK Bhatt has batted for expeditious allocation of satcom spectrum, saying it would help satcom players start their services in India as soon as possible and bring the unconnected areas under the coverage. According to analysts, satcom players' entry may delay mobile services tariff hikes by telcos and new entrants may trigger another round of price war which may push the sector into another round of financial stress as well as lower investments in the network. Private players like Vodafone Idea are already ridden under huge debt. It has awarded a Rs 30,000 crore contract to Nokia, Ericsson and Samsung for the supply of 4G and 5G network equipment for three years. GX Group CEO Paritosh Prajapati says that the investment in the Indian telecom sector will continue as operators are looking to improve their network. EY India Markets and Telecom leader Prashant Singhal cautions that it is crucial for the telecom industry to find a balance between tariff rationalisation to recover their investments without compromising on subscribers' experience. "Telecom companies should not ignore low paying customers and it is very much required to include them in the data-led digital economy as per government mission of inclusive development. Operators also need to invest in building infrastructure on which the entire digital economy including start-ups, e-commerce are thriving," says Singhal. According to a joint report by Google, Temasek and Bain & Company, India's internet economy alone is expected to register a six-fold growth and touch about Rs 80 lakh crore by 2030. The report estimated that India's internet economy was in the range of Rs 12.86 lakh crore to Rs 14.5 lakh crore in 2022. Singhal said that internet companies or the new age businesses are generating high margins and their corporate social responsibility funds can be used for building rural and remote networks where returns are low for telecom operators. Telecom industry body COAI has been pushing for revenue sharing with foreign big tech companies like Google, Amazon, Facebook, WhatsApp etc as videos, images and other content on these platforms are estimated to consume 80 per cent bandwidth. "The massive traffic created by LTGs (large traffic generators)has significantly strained telecom networks, compelling TSPs to invest an additional Rs 10,000 crore in infrastructure in 2023, according to our study. “While TSPs bear these costs, LTGs, without contributing, amass multiple incomes through subscriptions, ads and data-driven marketing, with revenues largely outside India's tax ambit," COAI Director General SP Kochhar said. He said that telcos also faced the blow of equipment theft as well during the year. Telecom equipment theft has emerged as a major issue affecting Indian TSPs, incurring an estimated Rs 800 crore in losses already, causing major disruptions in 4G/5G expansions and impacting the quality of mobile services, Kochhar said. Also, the year 2024 ends with the unsolved menace of pesky and fraud calls with scamsters powered by high-speed 5G networks devising new strategies like digital arrest, misusing AI to extort money. Stay informed on all the latest news , real-time breaking news updates, and follow all the important headlines in india news and world News on Zee News.United Internet AG ( OTCMKTS:UDIRF – Get Free Report ) was the recipient of a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 2,200 shares, a drop of 83.6% from the November 30th total of 13,400 shares. Based on an average daily trading volume, of 0 shares, the short-interest ratio is currently ∞ days. United Internet Stock Performance OTCMKTS:UDIRF opened at $15.89 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.99 and a current ratio of 1.06. The firm has a market cap of $2.98 billion, a price-to-earnings ratio of 99.32 and a beta of 0.67. United Internet has a 52 week low of $15.55 and a 52 week high of $15.89. The firm has a 50-day moving average price of $20.56 and a two-hundred day moving average price of $23.62. About United Internet ( Get Free Report ) Read More Receive News & Ratings for United Internet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for United Internet and related companies with MarketBeat.com's FREE daily email newsletter .
Jowell Global Ltd. Announces First Half 2024 Unaudited Financial Results
Build Smarter Chatbots: Top Frameworks for Building AI ChatbotsTAMPA, Fla. (AP) — Two-time Pro Bowl linebacker Shaquil Barrett is rejoining the Tampa Bay Buccaneers. The Bucs signed the two-time Super Bowl champion on Saturday, while also announcing safety Jordan Whitehead was activated from injured reserve ahead of Sunday’s home game against the Carolina Panthers. Barrett spent five seasons with Tampa Bay from 2019 to 2023. He led the NFL with a franchise-record 19 1-2 sacks in his first year with the Bucs, then helped the team win its second Super Bowl title the following season. In all, Barrett started 70 games with Tampa Bay, amassing 45 sacks, 15 forced fumbles, two fumble recoveries and three interceptions. He was released last winter in a salary cap move, signed a one-year contract with the Miami Dolphins in free agency, then abruptly announced his retirement on social media before the start of training camp in July. Barrett, who also won a Super Bowl during a four-season stint with the Denver Broncos, decided to unretire last month. He signed with the Bucs after clearing waivers earlier in the week. Whitehead has missed the past four games with a pectoral injury. His return comes of the heels of the Bucs placing safety Christian Izien on IR with a pectoral injury. On Saturday, the Bucs also activated rookie wide receiver Kameron Johnson from IR and elevated punter Jack Browning to the active roster from the practice squad. NFL: https://apnews.com/hub/nflAnalytic Partners Placed Highest for Ability to Execute and Furthest for Completeness of Vision MIAMI , Nov. 22, 2024 /PRNewswire/ -- Analytic Partners, the Commercial Intelligence company for insights-driven brands, today announced it has been recognized as a Leader in the inaugural Gartner® Magic QuadrantTM for Marketing Mix Modeling (MMM) Solutions. Analytic Partners is positioned highest in Ability to Execute and furthest in Completeness of Vision. "We believe our position as a Leader underscores our dedication to our customers and our ongoing commitment to innovation," said Nancy Smith , President and CEO of Analytic Partners. "We appreciate the extensive research Gartner has done in guiding our industry forward. This recognition, we feel, highlights the critical role Commercial Analytics plays in delivering forward-looking decisioning for lasting, meaningful growth." Elevating Insights Beyond MMM and MTA Analytic Partners' longstanding commitment to deliver insights and solutions extends well beyond Multi-Touch Attribution (MTA) and MMM. Analytic Partners' Commercial Analytics solution integrates all factors driving performance outcomes – including finance, supply chain and other enterprise functions. This holistic, company-wide approach provides a forward-looking decisioning framework that brands rely on to measure both short-term and long-term impact, ensuring sustained growth. GPS Enterprise: A Powerful Platform for Enabling Growth Powered by the GPS Enterprise platform, Commercial Analytics combines data science and technology to deliver actionable insights that enable brands to make proactive, forward-looking commercial decisions. This end-to-end platform, informed by ROI Genome intelligence, ensures streamlined data management, application of advanced analytics and multi-objective optimizations to help brands meet their growth goals. Recognition extends to Gartner Critical Capabilities Report for MMM Solutions The recognition also extends beyond the Magic QuadrantTM. In the accompanying Critical Capabilities report for MMM Solutions, Analytic Partners received the highest scores across all 8 Use Cases, including: Highest score in Complex Marketing Analytics Highest score in Business Scenario Planning Highest score in Data Management Highest score in Media Optimization Magic Quadrant reports are a culmination of rigorous, fact-based research in specific markets, providing a wide-angle view of the relative positions of the providers in markets where growth is high, and provider differentiation is distinct. Providers are positioned into four quadrants: Leaders, Challengers, Visionaries and Niche Players. The research enables businesses to get the most from market analysis in alignment with your unique business and technology needs. To read the full Magic QuadrantTM report, access a complimentary copy here . Gartner, Magic Quadrant for Marketing Mix Modeling Solutions, Matt Wakeman , David Walters , Joseph Enever , Weicong Zhao , November 19, 2024 GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally, Magic Quadrant is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved. Gartner does not endorse any vendor, product or service depicted in its research publications and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's Research & Advisory organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. About Analytic Partners Analytic Partners is the leader in Commercial Analytics, providing adaptive solutions for deeper business understanding, right-time planning and optimization for marketing and beyond. We turn data into expertise so our customers can create powerful connections with their customers and achieve commercial success. For more information, visit analyticpartners.com . Photo - https://mma.prnewswire.com/media/2565668/Analytic_Partners.jpg