Parker | July 20, 2022
Parker Hannifin Corporation (NYSE:PH) today welcomes the announcement from the UK’s Secretary of State for Business, Energy and Industrial Strategy that, following public consultation, he accepts the competition and national security undertakings provided by Parker in relation to the Meggitt acquisition and the transaction is therefore cleared to proceed by the UK Government. As previously announced on August 2, 2021, the boards of Meggitt and Parker reached agreement on the terms and conditions of a recommended all cash acquisition by Parker of the entire issued, and to be issued, ordinary share capital of Meggitt PLC (the “Acquisition”).
Parker also confirms that it has signed legally binding economic commitments with the UK Government. These commitments include maintaining the following, for five years after the closing of the Acquisition (“Undertaking Period”):
Meggitt’s headquarters and its aerospace and advanced materials center of excellence in Ansty Park, in Coventry, UK;
Meggitt’s key areas of existing operational capability in the UK;
R&D (including product engineering) and manufacturing labor headcount in the UK;
Meggitt’s sustainability targets of reducing net carbon emissions by 50 per cent, by 2025; and achieving net zero greenhouse gas emissions by 2050; and
Contractual obligations regarding supply of goods and services to HM Government.
Finally, as innovation is a key driving factor of success for both Meggitt and Parker, Parker has agreed to increase Meggitt’s R&D expenditure in the UK by at least 40 per cent, by the end of the Undertaking Period, and its UK apprenticeship opportunities by 20 per cent.
“We are pleased to have reached this important clearance milestone from the UK Secretary of State, We have also agreed to substantial legally binding commitments, which underscore our deep commitment to the UK. As we move closer to the completion of the acquisition and the combination of these two strong businesses, we look forward to welcoming the Meggitt team to Parker.”
-Tom Williams, Chairman and Chief Executive Officer, Parker.
The Acquisition remains subject to satisfaction or, where applicable, waiver of the conditions set out in the scheme circular published on August 16, 2021, including regulatory clearance and the sanction of the scheme of arrangement by the High Court of Justice in England and Wales pursuant to the UK Companies Act 2006. Parker continues to expect the Acquisition to close in Q3 2022.
Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 66 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.
Carahsoft | August 24, 2022
Carahsoft Technology Corp., The Trusted Government IT Solutions Provider®, and 1Kosmos, the company that unifies identity proofing and passwordless authentication, today announced a partnership. Under the agreement, Carahsoft will serve as 1Kosmos’ Master Government Aggregator® making its BlockID authentication platform available to the Public Sector through Carahsoft’s reseller partner network and NASA Solutions for Enterprise-Wide Procurement (SEWP) V and Information Technology Enterprise Solutions – Software 2 (ITES-SW2) contracts.
The recent Executive Order on Improving the Nation's Cybersecurity (EO 14028) requires Federal civilian agencies to establish plans to drive adoption of Zero Trust Architecture. Carahsoft and 1Kosmos’ partnership provides access to the BlockID cloud-based service to help Local, State and Federal Governments adopt a Zero Trust approach to security by replacing passwords with identity-based multi-factor authentication (MFA). This service integrates with existing identity systems and combines indisputable digital identity proofing with advanced biometrics and passwordless authentication.
“The addition of 1Kosmos to Carahsoft’s Zero Trust Solutions group provides Government agencies with a user-friendly method of verifying the identity of individuals accessing citizen services and resources that eliminate passwords, Together with 1Kosmos and our reseller partners we have the strength and expertise to help Government agencies efficiently modernize enrollment, on-boarding and authentication for digital services, without replacing their existing systems.”
-Troy Meraw, Sales Manager at Carahsoft.
Carahsoft is a trusted source for resellers and systems integrators who help Government agencies solve complex security and identity management challenges, said Greg Cranley, VP Federal and Public Sector for 1Kosmos. This partnership makes passwordless, identity-based MFA readily accessible to State, Local and Federal Governments that want to adopt Zero Trust access principles for employees, contractors and citizens. Through our BlockID service, we are ensuring the cybersecurity of our nation’s information.
1Kosmos BlockID is a distributed identity cloud service that integrates identity proofing, verification and live biometrics authentication, enabling Government agencies to:
Provide workers and third-party contractors with a user-friendly enrollment, identity verification and on-boarding experience, as well as passwordless login.
Protect against identity impersonation, account takeovers and transaction fraud.
Modernize identity and access management (IAM) with identity-based authentication, advanced multi-factor authentication (MFA) and provide citizens a verified digital identity they control and use to access Government services.
To strengthen the Public Sector’s cybersecurity defense, agencies need to implement Zero Trust principles that safeguard networks at every entry point. Carahsoft supports solutions that help Government organizations understand Zero Trust frameworks, develop a Zero Trust strategy, and implement a Zero Trust architecture.
Carahsoft Technology Corp. is The Trusted Government IT Solutions Provider®, supporting Public Sector organizations across Federal, State, and Local Government agencies and Education and Healthcare markets. As the Master Government Aggregator® for our vendor partners, we deliver solutions for Cybersecurity, MultiCloud, DevSecOps, Big Data, Artificial Intelligence, Open Source, Customer Experience, and more. Working with resellers, systems integrators, and consultants, our sales and marketing teams provide industry-leading IT products, services, and training through hundreds of contract vehicles.
1Kosmos enables passwordless access for workers, customers and citizens to securely transact with digital services. By unifying identity proofing and strong authentication, the BlockID platform creates a distributed digital identity that prevents identity impersonation, account takeover and fraud while delivering frictionless user experiences. BlockID is the only NIST, FIDO2, and iBeta biometrics certified platform that performs millions of authentications daily for some of the largest banks, telecommunications and healthcare organizations in the world. The company is funded by Forgepoint Capital and Gula Tech Adventures with headquarters in Somerset, New Jersey.
EMERGING TECHNOLOGY,GOVERNMENT BUSINESS
M9 Solutions | August 04, 2022
We are excited to announce that M9 Solutions and the National Technical Information Service (NTIS) have entered into a Joint Venture Partnership (JVP) for Data Innovation Support. In response to a rigorous NTIS review and selection process, which is described in the linked Federal Register Notice, M9 Solutions was chosen as a JVP. M9 Solutions brings some of the brightest minds in data science, and now can help support any agency to implement any government data science project in partnership with NTIS
The Department of Commerce's National Technical Information Service (NTIS) accelerates results across the Federal Government by leveraging data as a strategic asset to achieve mission outcomes. As a trusted Fed-to-Fed advisor, NTIS applies its unique joint venture partnership (JVP) authority (15 U.S. Code 3704b) leveraging leading, innovative companies to help federal agencies solve their complex data challenges. NTIS efforts promote operational excellence through applied data science innovation in areas such as artificial intelligence, machine learning, predictive analytics and blockchain.
"We are thrilled to be selected as a Joint Venture Partner with NTIS. Our internal Center of Excellence (CoE) with a dedicated focus on cutting edge AI and Blockchain technologies will transform federal agencies mission operations by using data in more innovative ways."
-David Callner, M9's Chief Growth Officer.
About M9 Solutions, LLC (M9):
M9 is a Small Business dedicated to enabling data innovations to the Federal Government by mobilizing the right people, skills, clearance levels, and technologies to help organizations who desire improved performance and modern, sustainable change. M9's investment in emerging and innovative technologies provides NTIS opportunities to address a wide range of mission operations across the federal landscape. M9 has invested in-house technologies and capabilities such as our Blockchain NFT Marketplace that connects government and commercial entities in new ways of working in the Web 3.0 metaverse. M9 has been supporting over 27 agencies digital transformation advancements since 2007 with our Data Science and Analytics, DevSecOps, Cloud, Cybersecurity, and AI/ML augmented assisted services to transform the landscape into The Digital Future™.