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GSE Solutions to be Acquired by Pelican Energy Partners

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2 years ago

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COLUMBIA, Md., Aug. 8, 2024 /PRNewswire/ — GSE Solutions (“GSE Systems, Inc.” or “GSE”) (Nasdaq: GVP), a leader in advanced engineering solutions that supports the future of clean-energy production and decarbonization initiatives of the power industry, announced today that it has entered into a definitive merger agreement to be acquired by Pelican Energy Partners (“Pelican”) in an all-cash transaction. Under the terms of the merger agreement, which was unanimously approved by the board of the directors of GSE, Pelican will acquire all the outstanding shares of GSE for an estimated total cash consideration of $4.10 per share. The consideration per share represents a premium of approximately 50% to GSE’s closing share price as of August 7, 2024.

The company plans on filing a proxy statement regarding the proposed transaction with the Securities and Exchange Commission (SEC) and the transaction is expected to close in the third or fourth quarter of 2024, subject to the approval by shareholders of GSE and the satisfaction of other customary closing conditions.

Kathryn O’Connor Gardner, Chair of the Board of GSE, stated, “We believe this outcome is in the best interest of the company’s shareholders. While the long-term prospects of the nuclear industry remain strong, the short-term business challenges to remain competitive in the current pace of growth of the power industry make this transaction the best outcome for our shareholders.”

Ravi Khanna, President and CEO of GSE, added, “While this transaction maximizes shareholder value, I will miss the passionate shareholders of GSE. As Chief Executive Officer, I’ve found that GSE has a highly skilled employee base which provides differentiated engineering and technology-first solutions to an evolving industry. We look forward to continuing to support our customers with the added resources available to us from, and in partnership with, Pelican. I believe this transaction is truly a win-win for GSE shareholders, customers and employees, as well as Pelican and the nuclear power industry as a whole.”

Sam Veselka, a Managing Director of Pelican, said, “Pelican is excited to partner with Ravi and his team to grow GSE. As a private company, the team will have the flexibility to capitalize on growth initiatives and invest in technology to create value for their customers. GSE has an excellent reputation in the market and provides a critical service that will benefit from new plant development and existing plant upgrades and extensions. As growth equity investors, Pelican is dedicated to expanding nuclear energy services to support the sector.”

Approvals and Timing

Completion of the transaction is expected in the third or fourth quarter of 2024, subject to the approval of GSE shareholders and the satisfaction of other customary closing conditions.

GSE’s Board of Directors unanimously approved the merger agreement and recommended that GSE shareholders vote in favor of it at a Special Meeting of Stockholders, to be scheduled as soon as practicable.

The transaction is not subject to a financing condition. Upon completion of the transaction, GSE will become a private company and shares of GSE’s common stock will no longer trade on the Nasdaq.

Baird is serving as exclusive financial advisor, Miles & Stockbridge P.C. and Potter Anderson Corroon LLP are serving as legal counsel to GSE and Ankura is delivering a fairness opinion to the Board of Directors of GSE.

Locke Lord LLP is serving as legal counsel to Pelican Energy Partners.

ABOUT GSE SOLUTIONS
Proven by more than 50 years of experience in the nuclear power industry, GSE knows what it takes to help customers deliver carbon-free electricity safely and reliably. Today, GSE Solutions leverages top talent, expertise, and technology to help energy facilities achieve next-level power plant performance. GSE’s advanced Engineering and Workforce Solutions divisions offer highly specialized training, engineering design, program compliance, simulation, and technical staffing that reduce risk and optimize plant operations. With more than 1,100 installations and hundreds of customers in over 50 countries, GSE delivers operational excellence. www.gses.com

ABOUT Pelican Energy Partners
Founded in 2011, Pelican Energy Partners is an operationally focused Houston-based private equity firm specializing in strategic investments in small to middle-market, high-growth potential energy service and equipment companies. The firm makes investments in energy equipment and service companies in the oil and gas and nuclear sectors.

Media Contact
Sunny DeMattio
GSE Solutions
Director of Marketing & Communications
sunny.demattio@gses.com
Direct: +1 410.970.7931

Investor Contact
Adam Lowensteiner
Vice President
Lytham Partners
gvp@lythampartners.com
Direct: +1 646.829.9702

 

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SOURCE GSE Systems, Inc.

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CNCF Welcomes Adyen as Platinum End User Member to Advance Open Source Financial Infrastructure

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49 minutes ago

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November 11, 2026

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Operating over 100 Kubernetes clusters across €1.39T in volume, Adyen brings production-scale fintech expertise to CNCF governance and open source projects

Key Highlights

Adyen joins the CNCF as a Platinum End User Member, gaining seats on the CNCF Governing Board and End User Technical Advisory Board.Operating over 100 Kubernetes clusters with Cilium, Prometheus, and OpenTelemetry, Adyen brings production-scale operational expertise to the open source community.Adyen open sourced kubectl-rexec, a Kubernetes tool that supports auditable kubectl exec access for regulated cloud native environments.

SALT LAKE CITY, Nov. 11, 2026 /PRNewswire/ — KUBECON + CLOUDNATIVECON NORTH AMERICA – The Cloud Native Computing Foundation® (CNCF®), which builds sustainable ecosystems for cloud native software, today announced that Adyen, the global financial technology platform, has joined the foundation as a Platinum End User. The move comes as 87% of financial organizations report clear business value from open source, according to the FINOS 2025 State of Open Source in Financial Services Report, reinforcing Adyen’s commitment to advancing the open source technologies that help power secure, scalable financial infrastructure.

Processing billions of transactions each year and €1.39 trillion in volume in 2025, Adyen is investing at the Platinum level to help advance the secure, reliable cloud native infrastructure that financial services require. Its participation brings the operating perspective of a global fintech platform to the open, vendor-neutral community shaping the technologies on which modern finance depends.

“End users are the operational backbone of the cloud native ecosystem, and Adyen represents the pinnacle of high-scale, zero-downtime engineering,” said Jonathan Bryce, executive director, CNCF. “Operating over 100 Kubernetes clusters at a global scale gives Adyen unique technical insights. We are thrilled to welcome them as a Platinum End User and look forward to their leadership on our Governing and Technical Advisory Boards.”

Adyen’s membership provides the cloud native community with a direct feedback loop from an environment where platform availability, performance, and security carry immediate financial weight.

Beyond leveraging Kubernetes, Cilium, Prometheus, and OpenTelemetry across its global infrastructure, Adyen actively contributes solutions designed for regulated engineering teams. This includes open sourcing kubectl-rexec, a tool that adds strict auditability to Kubernetes container-access workflows while preserving native developer velocity.

“Investing in the CNCF helps us to maintain full control of our technology,” said Pedro Oliveira, VP of Infrastructure. “When you operate at our scale, vendor lock-in isn’t an option, and having a seat at the table matters. Bringing our real-world experience to the community lets us help shape the tools we rely on every day, making them more reliable for us and for the broader ecosystem.”

As a Platinum End User Member, Adyen will hold a seat on the CNCF Governing Board, which provides business, marketing, and budget oversight for the foundation. The company will also appoint a representative to the End User Technical Advisory Board, which brings end-user needs and perspectives to CNCF community discussions.

To learn more about becoming a CNCF member, visit https://www.cncf.io/about/join/.

About Cloud Native Computing Foundation
Cloud native computing empowers organizations to build and run scalable applications with an open source software stack in public, private, and hybrid clouds. The Cloud Native Computing Foundation (CNCF) hosts critical components of the global technology infrastructure, including Kubernetes, Prometheus, and Envoy. CNCF brings together the industry’s top developers, end users, and vendors and runs the largest open source developer conferences in the world. Supported by nearly 800 members, including the world’s largest cloud computing and software companies, as well as over 200 innovative startups, CNCF is part of the nonprofit Linux Foundation. For more information, please visit www.cncf.io.

Media Contact
The Linux Foundation
pr@cncf.io

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SOURCE Cloud Native Computing Foundation

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Tiger Analytics Achieves AWS Premier Tier Status in the Amazon Web Services Partner Network

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49 minutes ago

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November 11, 2026

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The recognition reflects Tiger Analytics’ demonstrated technical expertise, customer success, and continued investment in its AWS partnership, strengthening its ability to deliver enterprise-scale cloud, data, and AI solutions.

SANTA CLARA, Calif., Nov. 11, 2026 /PRNewswire/ — Tiger Analytics, a global leader in AI and analytics, today announced that it has achieved AWS Premier Tier Services Partner status in the Amazon Web Services (AWS) Partner Network (APN).

Achieving AWS Premier Tier Services Partner status differentiates Tiger Analytics as an AWS Partner who demonstrated expertise and notable success in helping customers design, architect, build, migrate, and manage their workloads on AWS.

“Achieving AWS Premier Tier marks an important inflection point in Tiger Analytics’ relationship with AWS,” said Puneet Piplani, Head of Strategic Growth and Alliances. “It recognizes the expertise and customer impact we have built together, while creating an even stronger foundation for what comes next. Our ambition is to combine Tiger Analytics’ deep data and AI capabilities with the scale and innovation of AWS to help enterprises move faster from AI ambition to measurable business outcomes. Premier Tier is an important milestone, and we believe the biggest opportunities in our partnership are still ahead of us.”

To earn Premier Tier, companies must complete a rigorous approval process through accreditations and certifications, must demonstrate a long-term investment in their relationship with AWS, and must have extensive expertise in deploying customer solutions on AWS. AWS Premier Tier Services Partners also have a strong team of AWS Trained & Certified technical consultants and have deep expertise in project management and professional services.

The impact of this collaboration is reflected in customer engagements such as Cross River Bank, where Tiger Analytics worked with AWS to establish a governed foundation for developing and deploying agentic AI across banking functions.

“Together with Tiger Analytics and AWS, we’ve built a foundation that allows us to rapidly develop and deploy agentic AI across banking functions,” said Pravesh Rijal, Chief Data and AI Officer at Cross River Bank.

About Tiger Analytics

Tiger Analytics is a global leader in AI & analytics, helping Fortune 1000 companies solve their toughest challenges. We offer full-stack AI and analytics services and solutions to empower businesses to achieve real outcomes. Our team of 7000+ technologists and consultants is based across the globe, working closely with clients across multiple sectors. For more information, visit tigeranalytics.com 

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SOURCE Tiger Analytics

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Meta Wins CNCF End User Case Study Contest for Accelerating AI Infrastructure Deployments From Hours to Minutes

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49 minutes ago

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November 11, 2026

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Using Argo CD and Kargo, Meta is building a GitOps platform to streamline application delivery across 100 Kubernetes clusters supporting AI research and inference

Key Highlights

Meta’s Cloud Foundation team won the CNCF End User Case Study Contest for its GitOps platform, built with Argo CD and Kargo to streamline Kubernetes application delivery.The new platform cuts routine application deployment times from more than four hours to minutes, streamlining the small team’s workflow through a simplified application definition while adding more advanced features such as automated deployment configuration, independent release promotion, and health verification.By separating application delivery from infrastructure provisioning, Meta is enabling independent application rollouts while retaining Terraform for infrastructure management.

SALT LAKE CITY, Nov. 11, 2026 /PRNewswire/ — KubeCon + CloudNativeCon North America 2026 — The Cloud Native Computing Foundation® (CNCF®), which builds sustainable ecosystems for cloud native software, announced Meta as the winner of the CNCF End User Case Study Contest for its adoption of cloud native technologies to accelerate application delivery across its AI infrastructure. Through a GitOps platform built on Argo CD and Kargo, Meta’s Cloud Foundation team is transforming how applications are deployed and managed across approximately 100 Kubernetes clusters supporting AI research and inference, reducing routine deployment times from more than four hours to minutes.

“AI infrastructure is causing organizations to rethink how they manage applications across distributed environments,” said Chris Aniszczyk, CTO, CNCF. “Meta’s approach demonstrates how open source technologies like Argo can help teams automate their application delivery, reduce operational complexity and scale infrastructure without adding unnecessary overhead. It’s a powerful example of how cloud native technologies are supporting the operational demands of AI at scale.”

Meta’s Cloud Foundation team, composed of more than 15 engineers, supports approximately 100 Kubernetes clusters across multiple cloud providers and accelerator families. Previously, Terraform was used for both infrastructure provisioning and Kubernetes application deployment, tying even routine application updates to a lengthy infrastructure release process. The shared deployment model meant stalled rollouts could delay unrelated releases and lacked automated health checks to verify application status.

To address these challenges, Meta began building a GitOps platform that separates application delivery from infrastructure provisioning. Terraform continues to manage infrastructure, while Argo CD reconciles application deployments against configurations stored in Git. Kargo orchestrates release promotion across environments, enabling independent rollouts, automated health checks and versioned release records that improve deployment traceability and recovery.

“GitOps and Argo CD give our small team a great foundation, shaped by years of community experience in Kubernetes delivery,” said Phong Nguyen, Production Engineer, Meta. “We focus on connecting it to Meta’s systems and aim to share our own lessons along the way.”

Meta also simplified application delivery by allowing developers to specify deployment requirements through a short application definition. The platform automatically generates Argo CD and Kargo configurations, enabling independent release promotion, automated health verification and deployment consistency without requiring application teams to manage complex configurations.

Meta plans to expand adoption of its GitOps platform and transition to a centrally managed Argo CD service to reduce maintenance overhead across its Kubernetes fleet. The team is also exploring upstream contributions to improve container registry authentication and Argo CD performance in large clusters.

To learn more about Meta’s implementation and results, read the full GitOps at Meta: How We Went From Terraform on Cron to GitOps for AI Infra case study.

About Cloud Native Computing Foundation

Cloud native computing empowers organizations to build and run scalable applications with an open source software stack in public, private and hybrid clouds. The Cloud Native Computing Foundation (CNCF) hosts critical components of the global technology infrastructure, including Kubernetes, Prometheus and Envoy. CNCF brings together the industry’s top developers, end users and vendors and runs the largest open source developer conferences in the world. Supported by nearly 800 members, including the world’s largest cloud computing and software companies, as well as over 200 innovative startups, CNCF is part of the nonprofit Linux Foundation. For more information, please visit www.cncf.io.

Media Contact
The Linux Foundation
pr@cncf.io 

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SOURCE Cloud Native Computing Foundation

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