GOVERNMENT BUSINESS,CYBERSECURITY
DLA Piper | August 09, 2022
DLA Piper represented SixGen, Inc., a leading cybersecurity and products company based in Maryland, in its acquisition of Fourcast Management and Analysis, Inc., a Maryland-based technology management consulting company.
SixGen provides world-class cybersecurity services and products to protect government organizations and commercial industries. Using innovative processes, tools, and advanced techniques, SixGen predicts and overcomes cybersecurity vulnerabilities. SixGen prioritizes best practices, customer requirements and privacy and overall mission impact.
The strategic acquisition of Fourcast Management and Analysis – a leading management consulting company that provides seasoned advisory services, skills, and assistance in the areas of finance, budget and cost estimation – will bolster SixGen's mission to provide the highest quality services to customers and enable employee growth through diversified opportunities.
"Congratulations to SixGen on this strategic acquisition of Fourcast, which will allow the company to grow in the cybersecurity and professional services sector, It was a pleasure collaborating and bringing together our deep knowledge and capabilities in the professional services industry to close this deal."
-Jeffrey Houle, co-chair of DLA Piper's Aerospace, Defense and Government Services Transactional practice who led the team that advised SixGen.
We're immensely proud of this pivotal deal. We thoroughly enjoyed working with the DLA Piper team and believe this acquisition will have an immediate impact on the level of service we can provide to our customers, said Chris Brady, chairman of Chart National, an investor in SixGen.
In addition to Houle (Washington, DC), the deal team included partners Thomas Pilkerton III, Julia Kovacs and Jordan Bailowitz (all three in Baltimore) and Brad Jorgensen (Austin); of counsel Christopher Armstrong (Baltimore); and associate Josh Feldman (Baltimore).
With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 12 consecutive years, according to Mergermarket.
DLA Piper's global Technology sector lawyers work across practice areas and offices to support technology clients – from startups to fast-growing and mid-market businesses to mature global enterprises – doing business around the world.
About DLA Piper:
DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas, Europe, the Middle East, Africa and Asia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising.
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GOVERNMENT INSURANCE
AICIL | July 18, 2022
Agriculture Insurance Company of India Limited (AICIL), a nationalised insurance company under the Ministry of Finance, Government of India, has signed a three-year agreement with Wingsure, an insurtech company that leverages artificial intelligence and deep technology to protect farmers worldwide.
As part of the agreement, Wingsure will use its advanced technology capabilities to significantly strengthen the accessibility of insurance products and services to farmers in India; curate and promote AICIL's comprehensive portfolio of agriculture insurance products and enable its channels, including groups and partner brokers, to distribute on its mobile app.
Agriculture and the allied sectors are the largest sources of livelihood in India, with most rural households dependent primarily on agriculture and 86% percent of holdings being small and marginal. However, farmers are vulnerable to the impact of climate change and other livelihood risks and have sub-optimal access to risk awareness programs and modern resources. Launched to support economic empowerment with transparency and promote sustainability through modern agricultural practices, Wingsure's application leverages advanced computer vision, augmented reality, and voice capabilities to provide intelligence and facilitate the underwriting and insurance claims processes for small holder farmers. The partnership will have access to more than 40 million farmers in India and focus on transforming how farmers mitigate and adapt to climate change and other livelihood related risks.
"We firmly believe that technology implementation is key to providing insurance and thereby protecting the underserved. Through our association, we will utilise the Wingsure technology platform to support our vision of how farmers can leverage insurance to mitigate risk."
-Malay Poddar, Chairman and Managing Director, AICIL
Avi Basu, Founder, and CEO of Wingsure, said, Wingsure's deep-tech platform revolutionizes how small holder farmers leverage insurance and financial products to protect their livelihood. It is designed to provide optimal access to risk awareness programs, climate smart practices & other modern resources as well as government backed schemes. The application uses AI and machine learning (ML) to rapidly process insurance underwriting and claims. We are excited to partner with AICIL in their vision to use technology for strengthening farmers' resilience in India.
About Agriculture Insurance Company of India Limited-
AICIL, controlled by the Government of India, has been implementing the crop insurance schemes of the Government of India since 2003-04. Currently, AICIL is implementing, inter alia, Pradhan Mantri Fasal Bima Yojana (PMFBY), Bangla Shasya Bima Scheme (BSBS), and Restructured Weather-based Crop Insurance Scheme (RWBCIS) and many of it proprietary agriculture insurance products.
About Wingsure-
Wingsure leverages artificial intelligence and deep technology to protect farmers worldwide. The company operates in developing nations, as well as advanced countries, focusing on growers who are locked out of traditional financial services. Wingsure is dedicated to providing farmers with competitive levels of technology and security to maintain the dignity and sustainability of individuals worldwide.
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EMERGING TECHNOLOGY,GOVERNMENT BUSINESS
Webb Fontaine | July 28, 2022
Webb Fontaine, a leading provider of advanced and innovative trade and Customs services, has announced it's Customs Webb solution has been chosen by Benin as their new Customs system, in replacement of ASYCUDA World.
The project strengthens Webb Fontaine's long-standing partnership with Benin Government, who has ambitions to expand and develop into one of the region's most technologically advanced trade environments.
The project continues towards a fully integrated approach to trade, interconnecting all major trade platforms such as the Single Window, the Port Community System, the e-Tracking solution and now through Customs Webb the Customs System. As a central and critical part of the trade environment, it is crucial and urgent for Governments to operate modern and efficient Customs Systems.
"Customs Webb, Webb Fontaine's Customs system, based on artificial intelligence, was chosen by Benin to continue the modernization of customs and optimize the trade environment. Webb Fontaine's ability to provide cutting-edge technology and digital solutions is a guarantee of success. With this new system, the objective of the public authorities to make Benin an exemplary platform in the simplification and transparency of Customs clearance procedures has taken a major step forward. All economic players are supported by Customs as part of a successful partnership with the entire industrial, commercial and logistics community."
-Alain HINKATI, Director General of Customs, Benin
We are honoured to have been selected by Benin Customs for such an important project. The longevity of our partnership is a true testament to Benin's commitment to trade digitalization. Customs Webb is a powerful system that uses AI technology to fully digitise the entire clearance process. To implement Customs Webb will be a huge step forward in their mission and the impacts of such will be felt by the entire trade community. Samy Zayani, Chief Commercial Officer Webb Fontaine
For Webb Fontaine, a successful track record demonstrates its ability to use AI to facilitate trade, secure revenue and reduce clearance times and costly congestion while greatly improving trade governance.
About Webb Fontaine-
Webb Fontaine is an AI company re-shaping the future of trade through technology. Trusted by governments globally, Webb Fontaine provides industry wide solutions to accelerate trade development and modernization. The company uses unique technology including Artificial Intelligence to enable countries to emerge as leaders in the future of trade.
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