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Haivision Announces Results for the Three Months and Nine Months Ended July 31, 2024

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2 years ago

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Operational Restructuring Now Complete, Focus Turns to Higher Revenue Growth

MONTREAL, Sept. 11, 2024 /CNW/ – Haivision Systems Inc. (“Haivision” or the “Company”) (TSX: HAI), a leading global provider of mission critical, real-time video networking and visual collaboration solutions, today announced its results for the third quarter ended July 31, 2024.

“As we get closer to the end of our Fiscal 2024, I’m proud to say that we have completed our 2-year strategic plan for major EBITDA and profitability transformation,” said Mirko Wicha, Chairman and CEO of Haivision.  Successfully transitioning out of low margin businesses, our focus over the next two years will be to return Haivision to organic, double-digit revenue growth.”  

Q3 2024 Financial Results

Revenue of $30.6 million, down from the prior year comparative period, partially the result of delays in the U.S. budget approval, but also reflect our transformation away from the bespoke “integrator” model and our success in the long-term rental program.Gross Margins* were 75.0%, a significant improvement from 71.9% for the same prior year period.Total expenses were $21.9 million, a decrease of $3.8 million, from the same prior year period.Operating profit was $1.1 million, a $1.8 million or 333% improvement from the same prior year period.Adjusted EBITDA* was $4.1 million, consistent with the prior year period.Adjusted EBITDA Margins* was 13.5%, compared to 12.4% for the same prior year period.Net income was $0.4 million, a $1.3 million or 298% improvement from the same prior year period.

Financial Results for the nine months ended July 31, 2024

Revenue of $99.4 million, down from the prior year comparative period, partially the result of delays in approval of the U.S. federal budget, but also reflects our transformation away from the bespoke integrator model, our success in the long-term rental program and are departure from the house of worship business.Gross Margins* were 73.1%, a notable improvement from 69.1% for the same prior year period.Total expenses were $67.4 million, a decrease of $7.0 million from the same prior year period.Operating profit was $5.2 million, a $7.7 million or 317% improvement from the same prior year period.Adjusted EBITDA* was $14.4 million, a $5.3 million or 78% improvement from the same prior year period.Adjusted EBITDA Margins* was 14.5%, a signficant improvement when compared to 8.7% for the same prior year period.Net income was $2.6 million, a $6.4 million or 243% improvement from the same prior year period.

Key Company Highlights

Haivision joins consortium with Airbus Defense and Space to develop new technologies for rapid, secure, and reliable communications.Haivision MCS awarded US$61.2 million (CAD$82 million) production agreement by U.S. Navy for next-generation combat visualization and video distribution systems.Haivision collaborates with Shield AI to bring together full-motion video with AI object detection for defense and ISR applications.France Television provides exclusive coverage of the Paris 2024 Olympic surfing competition with Haivision’s private 5G video transmission ecosystem.Celebrated its 20-years anniversary as a leader and innovator in mission critical live video.Unveiled Hub 360, a cloud-based master control solution that streamlines live production workflows.Published its fifth annual Broadcast Transformation Report, highlighting the state of technology adoption in the broadcast industry.Awarded “Single/Dual-Stream Encoding Hardware” and “Best On-Prem Encoding/ Transcoding Solution” for the Makito X4 by Streaming Media Readers’ Choice Awards.Joined the Panasonic Partner Alliance for live video production workflows with Kairos; joined the Sony Cloud Production Platform for low latency live video in the cloud; and partnered with Grabyo, a London-based live cloud production platform, enabling integrated solution for live multi-camera productions.Announced strategic partnerships with CP Communications, Flypack, RF Wireless Systems, and Vidovation to extend mobile video transmitters rental services into North America.

“Haivision MCS’s recent award of a C$82M production agreement by the U.S. Navy, the Airbus Defense development partnership, and our investment in AI development demonstrate our ability to deliver advanced technology solutions for our key markets. Said Dan Rabinowitz, Chief Financial Officer and EVP, Operations.  These are but a few example of growth opportunities for the Company.  It has clearly been a busy year for Haivision.”

Financial Results

Revenue for the three months and nine months ended July 31, 2024 was $30.6 million and $99.4 million, respectively modest decrease when compared to the prior year comparative period.  In this last quarter revenues were impacted by delays in the approval of a U.Ss Federal spending bill which, in turn, delayed certain procurement process; our transition away from the integrator model in the control room space, which offered lower-margined, third-party components; our long-term rental program which will offer a recurring revenue model and enhanced margins in our transmitter business; and our departure from the house of worship market in fiscal 2023.

Gross Margin* for the three months and nine months ended July 31, 2024 was 75.0% and 71.9%, respectively compared to 72.0% and 69.1% for the prior year comparable periods. Gross Margin* were positively impacted by our decision to exit the managed services business; transitioning away from the integrator model in the control room market, decreases in the incremental costs of components procured during the worldwide component shortage, and supply chain improvements.   

Total expenses for the three months and nine months ended July 31, 2024 were $21.9 million and $67.4 million, respectively representing decrease of $3.8 million and $7.0 million when compared to from the prior year comparative periods, largely the result of recently completed restructuring efforts. 

The result of these Gross Margin* improvements and lower total expenses was operating profits for the three months and nine months ended July 31,, 2024 of $1.1 million and $5.3 million, respectively representing improvements of $1.6 million and $7.7 million when compared to the prior year comparable periods. Adjusted EBITDA* for the three months ended July 31, 2024 was $4.1 million a modest decrease of $0.2 million from the prior year period.  However, Adjusted EBITDA* for the nine-month period ended July 31, 2024 was $14.4 million representing a significant increase of $5.3 million (or 58%) from the prior year comparative period. Adjusted EBITDA Margins* for the three months ended July 31, 2024, was 13.5% compared to 12.4% in the prior year comparative period.  Adjusted EBITDA Margins* for the nine months ended July 31, 2024, was 14.5% compared to 8.7% in the prior year comparative period.

Net income for the three months ended July 31, 2024, was $0.4 million representing an increase of $1.3 million from the prior year net loss of $0.9 million, and net income for the nine months ended July 31, 2024 was $2.6 million and increase of $6.4 million from the prior year loss of $3.8 million.

 *Measures followed by the suffix “*” in this press release are non-IFRS measures. For the relevant definition, see “Non-IFRS Measures” below. As applicable, a reconciliation of this non-IFRS measure to the most directly comparable IFRS financial measure is included in the tables at the end of this press release and in the Company’s management’s discussion and analysis for the three months and nine months ended July 31, 2024.

Conference Call Notification

Haivision will hold a conference call to discuss its second quarter financial results on Thursday, September 12, 2024 at 8:30 am (ET). To register for the call, please use this link https://registrations.events/direct/Q4I3341499 .  After registering, a confirmation will be sent through email, including dial in details and unique conference call codes for entry.

Financial Statements, Management’s Discussion and Analysis and Additional Information 

Haivision’s unaudited interim consolidated financial statements for the third quarter ended July 31, 2024 (the “Q3 Financial Statements”), the management’s discussion and analysis thereon and additional information relating to Haivision and its business can be found under Haivision’s profile on SEDAR+ at www.sedarplus.ca. The financial information presented in this release was derived from the Q3 Financial Statements.

Forward-Looking Statements

This release includes “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”) within the meaning of applicable securities laws, including, without limitation, statements regarding the Company’s growth opportunities and its ability to execute on its growth strategy. In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking statements. Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management’s current beliefs, expectations, estimates and projections regarding future events and operating performance.

Forward-looking statements are necessarily based on opinions, assumptions and estimates that, while considered reasonable by Haivision as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements. Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to, the risk factors identified under “Risk Factors” in the Company’s latest annual information form, and in other periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under the Company’s SEDAR+ profile at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect Haivision. However, such risk factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. You should not place undue reliance on forward-looking statements, which speak only as of the date of this release. Haivision undertakes no obligation to publicly update any forward-looking statement, except as required by applicable securities laws.

Non-IFRS Measures

Haivision’s consolidated financial statements for the third quarter ended July 31, 2024 are prepared in accordance with International Financial Reporting Standards (“IFRS”).  As a compliment to results provided in accordance with IFRS, this press release makes reference to certain (i) non-IFRS financial measures, including “EBITDA”, and “Adjusted EBITDA”, (ii) non-IFRS ratios including “Adjusted EBITDA Margin”, and (iii) supplementary financial measures including “Gross Margins” (collectively “non-IFRS measures”). These non-IFRS measures are not recognized measures under IFRS and do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. Accordingly, these measures should not be considered in isolation or as a substitute for analysis of our financial information reported under IFRS. Rather, these non-IFRS measures are used to provide investors with supplemental measures of our operating performance and thus highlight trends in our core business that may not otherwise be apparent when relying solely on IFRS measures. We also believe that securities analysts, investors, and other interested parties frequently use non-IFRS measures in the evaluation of issuers. Our management also uses non-IFRS measures to facilitate operating performance comparisons from period to period, to prepare annual operating budgets and forecasts and to determine components of management compensation. For information on the most directly comparable financial measure disclosed in the primary financial statements of Haivision, composition of the non-IFRS measures, a description of how Haivision uses these measures and an explanation of how these measures provide useful information to investors, refer to the “Non-IFRS Measures” section of the Company’s management’s discussion and analysis for the three months and nine months ended July 31, 2024, dated September 11, 2024, available on the Company’s SEDAR+ profile at www.sedarplus.ca, which is incorporated by reference into this press release. As applicable, the reconciliations for each non-IFRS measure are outlined below. Non-IFRS measures should not be considered as alternatives to net income or comparable metrics determined in accordance with IFRS as indicators of the Company’s performance, liquidity, cash flow and profitability.

About Haivision

Haivision is a leading global provider of mission-critical, real-time video streaming and visual collaboration solutions. Our connected cloud and intelligent edge technologies enable organizations globally to engage audiences, enhance collaboration, and support decision making. We provide high quality, low latency, secure, and reliable live video at a global scale. Haivision open sourced its award-winning SRT low latency video streaming protocol and founded the SRT Alliance to support its adoption. Awarded four Emmys® for Technology and Engineering from the National Academy of Television Arts and Sciences, Haivision continues to fuel the future of IP video transformation. Founded in 2004, Haivision is headquartered in Montreal and Chicago with offices, sales, and support located throughout the Americas, Europe, and Asia. Learn more at haivision.com. 

Thousands of Canadian dollars (except per share amounts)

Three months ended

July 31,

Nine months ended

July 31,

2024

2023

2024

2023

($)

($)

($)

($)

Revenue

30,646

34,954

99,394

104,132

Cost of sales

7,665

9,826

26,709

32,133

Gross profit

22,981

25,128

72,685

71,999

Expenses

Sales and marketing

6,744

7,823

20,378

23,339

Operations and support

3,939

3,820

11,903

11,409

Research and development

6,713

7,236

20,738

22,542

General and administrative

3,870

4,740

12,788

14,036

Share-based payment

585

449

1,627

1,545

Restructuring costs

—

1,546

—

1,546

21,851

25,615

67,434

74,417

Operating Profit (loss)

1,131

(486)

5,251

(2,417)

Financial expenses

206

393

749

1,337

Income (loss) before income taxes

925

(880)

4,502

(3,754)

Income taxes

Current

887

(388)

2,236

(242)

Deferred

(397)

371

(378)

283

490

(17)

1,858

40

Net income (loss)

435

(863)

2,644

(3,795)

Other comprehensive income (loss)

Foreign currency translation adjustment

785

(2,670)

203

(2)

Comprehensive income (loss)

1,221

(3,532)

2,848

(3,797)

Net income (loss) per share:

       Basic

$0.01

$(0.03)

$0.09

$(0.13)

       Diluted

$0.01

$(0.03)

$0.09

$(0.13)

 Weighted average number of shares outstanding

       Basic

29,038,392

29,004,453

29,074,599

28,964,172

       Diluted

30,162,758

29,004,453

30,123,314

28,964,172

Thousands of Canadian dollars

As at

July 31,
2024

October 31,
2023

$

$

Assets

Current assets

             Cash

13,882

8,285

             Trade and other receivables

24,676

26,113

             Investment tax credits receivable

2,044

2,238

             Inventories

15,581

18,930

             Prepaid expenses and deposits

3,828

4,043

60,011

59,609

Property and equipment

3,727

3,900

Right-of-use assets

6,199

7,494

Intangible assets

12,727

17,668

Goodwill

46,309

46,219

Non-refundable investment tax credits receivable

7,313

5,602

Deferred income taxes

3,953

3,599

80,228

84,482

140,239

144,091

Liabilities

Current liabilities

            Line of credit

3,402

4,685

            Trade and other payables

14,031

17,534

            Restructuring costs payable

70

240

             Purchase price payable

208

204

            Income taxes payable

1,779

659

            Current portion of lease liabilities

1,677

1,688

            Current portion of term loans

1,138

964

            Deferred revenue

12,672

12,104

34,977

38,078

Lease liabilities

5,460

6,738

Long term debt

1,664

2,101

Deferred revenue

3,009

3,021

45,110

49,938

Equity

Share capital

89,900

90,902

Retained earnings

(7,792)

(9,997)

Share-based compensation and other reserves

4,864

5,295

Cumulative translation adjustment

8,157

7,953

95,129

94,153

140,239

144,091

 

Thousands of Canadian dollars

Three months ended

 July 31,

Nine months ended

July 31,

2024

2023

2024

2023

($)

($)

($)

($)

Net Income (loss)

434

(863)

2,644

(3,795)

Income Taxes

490

(17)

1,858

40

Income (loss) before income taxes

925

(880)

4,502

(3,755)

Depreciation

828

768

2,561

2,315

Amortization

1,602

2,053

4,947

6,091

Financial expenses

206

393

749

1,337

EBITDA(1)

3,561

2,335

12,759

5.988

Share-based payments (LTIP)

585

449

1,627

1,545

Restructuring costs

—

1,546

—

1,546

Adjusted EBITDA(1)

4,146

4.330

14,386

9,079

Adjusted EBITDA Margin(1)

13.5 %

12.4 %

14.5 %

8.7 %

___________________

Note:

(1) Non-IFRS measure. See “Non-IFRS Measures.”

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SOURCE Haivision Systems Inc.

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Hilco Global Engaged by Stan Lee Holdings to Sell Rare & Valuable Intellectual Property Portfolio

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34 minutes ago

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July 24, 2026

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NEW YORK, July 24, 2026 /PRNewswire/ — Hilco Global, a diversified financial services company that delivers expert professional services and capital solutions to help clients maximize value and drive performance across the business lifecycle, is pleased to announce that its IP Services practice has been engaged by Stan Lee Holdings, Ltd. (“SLH”) to sell a legendary portfolio of intellectual property developed by Stan Lee, the iconic “father of the super hero.” Known as the Omniverse Collection created by Stan Lee, the portfolio represents a treasure trove of original characters and source material developed by Stan when he was leading Marvel Comics and when he built Stan Lee Entertainment – the first super hero animation studio created for the Internet age. This rare and valuable collection of Intellectual Property encompasses dozens of compelling super heroes and stories conceived by Stan from 1999 to 2001 as well as a franchise comprising over 50 well-known characters – the only franchise of Marvel-created characters not owned by Marvel. Full details of the collection, including the individual characters, franchises, and story properties it comprises, will be released in the coming weeks.

Through this collaboration, Hilco Global will work alongside SLH and former EVP of Marvel Entertainment Shirrel Rhoades to find a new home for a body of largely underleveraged super hero and other characters, as well as world-building intellectual property. Numerous supporting  scripts, episodes, and development materials spanning Stan Lee’s career are also part of the offering.

“The Omniverse Collection created by Stan Lee is one of the most significant super hero IP offerings of the decade,” said Eric Hurwitz, Senior Director of the Hilco Global IP Services practice. “This large, diverse portfolio presents the opportunity to capitalize on untapped material with an unmatched pedigree. A buyer essentially has a blank slate to bring these characters to fans worldwide and expand on Stan Lee’s legacy. Hilco Global is thrilled to bring these assets to market, leveraging deep experience across intellectual property and media valuation, licensing, and transaction execution.”

Among the intellectual property being offered is a hidden gem; a connected entertainment universe of Stan Lee’s own creation. “This one-of-a-kind IP collection illustrates just how far ahead Stan was in understanding the future of entertainment,” observed Shirrel Rhoades, who was handpicked by Stan Lee to succeed him as publisher of Marvel. “What we’re bringing to market isn’t a collection of isolated ideas. It’s pieces of one larger vision, a living digital universe in which characters can be created, experienced, and expanded across every form of media.”

Parties can reach out to Ehurwitz@hilcoglobal.com to register interest. More information about the offering, the individual properties within the collection, and the sale process will become available soon.

About Hilco Global:  Hilco Global, a subsidiary of ORIX Corporation USA, is a diversified financial services company that delivers integrated professional services and capital solutions that help clients maximize value and drive performance across the retail, commercial and industrial, real estate, manufacturing, and intellectual property sectors. Hilco Global provides a range of customized solutions to healthy, stressed, and distressed companies to resolve complex situations and enhance long-term enterprise value. Hilco Global works to deliver the best possible result by aligning interests with clients and providing strategic advice and, in many instances, the capital required to transact. Hilco Global is based in Northbrook, Illinois and has more than 810 professionals operating on four continents. Visit www.hilcoglobal.com

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SOURCE Hilco Trading, LLC

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GR0 to Acquire Ultimate AI’s Deployment Division and Launch GR0 AI, Turning Brands’ Existing Customer Data Into Revenue

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July 24, 2026

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The new company pairs GR0’s performance marketing distribution with Ultimate Deployment’s AI agents and customer intelligence to build AI revenue systems for DTC and ecommerce brands; in one early deployment, AI-led customer conversations were associated with more than $350,000 in sales.

LOS ANGELES, July 24, 2026 /PRNewswire/ — GR0, the Los Angeles-based digital marketing agency, today announced plans to acquire Ultimate Deployment and launch GR0 AI, a new company that builds and deploys AI revenue systems for direct-to-consumer (DTC) and ecommerce brands. GR0 AI combines GR0’s performance marketing expertise, client relationships and sales infrastructure with Ultimate Deployment’s technology and experience deploying AI agents inside operating businesses.

“AI is creating an entirely new performance channel for brands,” said Jon Zacharias, co-founder and president of GR0. “Most companies already have the traffic, customer data and demand. What they’re missing is an intelligent system that knows who to contact, what to say and when to say it. GR0 AI turns the customer signals brands already own into personalized conversations and measurable revenue.”

The approach is already producing results. In one early deployment, AI-led customer conversations were associated with more than $350,000 in sales during a period in which the brand generated approximately $1 million in total revenue. GR0 AI deployments include attribution and incrementality reporting so brands can measure both assisted and directly generated revenue.

GR0 AI deploys inside a brand’s existing commerce, CRM, email, SMS, phone and customer-data infrastructure. Its systems:

Identify and prioritize high-intent customers and prospects Personalize outreach and follow-up based on customer behavior and company data Conduct two-way conversations across messaging channels, recovering revenue from abandoned carts, dormant customers and unconverted leads Escalate complex or high-value opportunities to human sales and support teams Measure the revenue associated with AI-driven interactions

“Most brands do not have a demand problem.  They already have thousands of customers and prospects sitting inside their systems,” said Ben Ganz, founder of Ultimate Deployment. “We build the company brain, unify the data and deploy AI employees that act on that intelligence. The opportunity falls into two buckets: recover the demand a brand has already earned, and make sure no new opportunity slips through the cracks. GR0 gives us the distribution, market access and operating experience to bring this to hundreds of brands.”

Ganz has spent his career at the intersection of entertainment and technology. He began as a producer on American Idol before moving into digital leadership at Fox, then founded VEGO Pictures, a digital production and technology company that worked with major entertainment and consumer brands and served as in-house production partner to Kevin Hart’s Laugh Out Loud Network. He also co-founded a virtual events company that produced digital graduation experiences for hundreds of thousands of students during the COVID-19 pandemic.

From there, Ganz and his team moved to the frontier of consumer AI, creating what FOX News called Hollywood’s first AI interactive voice experience. They powered AI personalities for creators with a combined audience of 100 million followers and engineered the world’s first AI assembly line for replicating personalities at scale, work the Hollywood Reporter recognized as the “Real-life Her.”  Ultimate Deployment then turned that conversational AI expertise toward the enterprise, building systems that connect company knowledge, customer data, and operational software with AI agents capable of performing real, meaningful business work.

“Ben and his team have built something with the potential to become a major new revenue channel for ecommerce companies,” Zacharias said. “We have seen very few offerings create this level of excitement among sophisticated performance marketers.”

Every GR0 AI engagement begins with an intensive discovery and implementation process: the team interviews key employees, maps the company’s systems and builds a centralized intelligence layer around the business. Lead scoring and prioritization are connected to the brand’s CRM before customer-facing AI agents go live.

“The technical opportunity is clear, and our job is to make it just as clear commercially,” said Kevin Miller, founder and CEO of GR0. “A brand that works with GR0 AI will know exactly what is being installed, how quickly it goes live and what revenue it is producing.”

The acquisition is expected to close this quarter, subject to completion of definitive agreements. Financial terms were not disclosed.

Brands interested in early GR0 AI deployments can learn more at www.gr0.com.

About GR0

GR0 is a full-service digital marketing agency that helps DTC and ecommerce brands accelerate growth through data-driven performance marketing, creative strategy and emerging technology. Co-founded by Kevin Miller and Jon Zacharias, GR0 provides services across SEO, Generative Engine Optimization, paid media, email, SMS, creative, affiliate and marketplace growth, and was among the first agencies to build a dedicated GEO practice, which is recognized by VentureBeat as one of America’s premier Generative Engine Optimization agencies. GR0 is headquartered in Los Angeles. Learn more at GR0.com.

About Ultimate Deployment

Ultimate Deployment builds AI employees for growing companies. Founded by Ben Ganz, the company captures how a business operates, organizes its institutional knowledge, connects its systems and deploys AI agents that perform real operational work across sales, customer experience, marketing, finance and internal teams.

Before its enterprise focus, Ultimate Deployment’s team built consumer AI at entertainment scale, creating Hollywood’s first interactive voice experience, powering AI personalities for creators with a combined audience of 100 million followers and engineering the world’s first AI assembly line for replicating personalities’ work featured by Fox News and recognized by The Hollywood Reporter as the real-life Her.

About Ultimate AI

Ultimate AI, founded by Ben Ganz, is a holding company building AI across consumer and enterprise. It launched during the first wave of consumer generative AI as an early AI super app, bringing more than 100 AI tools and assistants into a single consumer platform that peaked within the top 10 of its Apple App Store category, according to company data. The company then expanded into creator AI, developing technology that lets public figures build interactive AI experiences around their personality, voice, knowledge and content. In 2024, Ultimate AI created Pookie Tools (widely known as the Hawk Tuah AI app), whose launch generated more than 400 million organic social media views and more than 10,000 downloads in its first seven days with no paid marketing, according to company data. It went on to develop real-time voice and personality products, including an experience Fox News described as Hollywood’s first real-time AI experience.

Ultimate Deployment, the enterprise arm that GR0 is acquiring, formed in March 2026 following the release of frontier agentic models from Anthropic and OpenAI, and applies that technology inside operating companies. It builds AI employees that capture how a business operates, unify its data and systems, and perform real operational work across sales, customer experience, marketing, finance and internal teams.

Company: GR0
Media Contact Name: GR0 Agency
Media Contact Email: press@gr0.com
Phone: +1 (310) 439-1887
Address: Los Angeles, CA, USA
Website: https://gr0.com/

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SOURCE GR0.com LLC

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Tech Mahindra and Cisco Partner to Bring AI-Driven Security Service Edge to Global Enterprises

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34 minutes ago

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July 24, 2026

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PUNE, India, July 24, 2026 /PRNewswire/ — Tech Mahindra (NSE: TECHM), a leading global provider of technology consulting and digital solutions to enterprises across industries, announced a partnership with Cisco to deliver an AI-driven Security Service Edge (SSE) offering for global enterprises. The joint offering will help enterprises reduce security complexity, improve visibility and control, deliver seamless user access, and strengthen resilience as they scale cloud, hybrid work, and AI adoption.

The partnership combines Tech Mahindra’s global managed services, integration, and delivery expertise with Cisco’s industry-leading Security Service Edge (SSE) platform (Cisco Secure Access) to provide unified, cloud-native security and seamless zero-trust access across users, devices, networks, and locations. For Tech Mahindra, the partnership strengthens its cybersecurity portfolio with differentiated, high-value managed security services, expands its addressable market, and accelerates pipeline growth in cloud security.

Saket Singh, SVP & Business Head – Digital Core Services (Cloud, Infrastructure, Network and Cyber Security Services), Tech Mahindra, said, “As enterprises increasingly operate in hybrid and distributed environments, security must evolve from siloed controls to unified, cloud-native platforms. Fragmented tools, inconsistent user experiences, and rising threats are creating visibility and control gaps as applications are accessed from anywhere. Through our partnership with Cisco, we are combining advanced SSE capabilities with Tech Mahindra’s managed services expertise to simplify operations, strengthen zero-trust enforcement, and deliver consistent, AI-powered protection at scale.”

By integrating a secure web gateway, cloud access security broker (CASB), zero trust network access (ZTNA), firewall-as-a-service, data loss prevention (DLP), and much more into a single platform, the offering simplifies security operations and delivers AI-powered protection. Enterprises benefit from end-to-end visibility, faster deployment, and a streamlined path to modernizing their security architecture while accelerating secure cloud adoption and cyber resilience. Additionally, as enterprises inevitably step into the agentic era, this solution provides robust and rapidly expanding protections for the use of generative AI and AI agents.

Raj Chopra, SVP & Chief Product Officer, Cisco Security Business Group, said, “Enterprises don’t need another tool to stitch into an already complex security stack. They need a simpler way to secure how work actually happens across users, devices, applications, clouds, and increasingly AI agents. Cisco Secure Access brings zero trust, identity context, and AI-powered protection into one cloud-delivered platform, helping teams enforce policy consistently while giving users seamless access from anywhere. Together with Tech Mahindra’s global managed services and integration expertise, we can help organizations modernize security operations, accelerate secure cloud and AI adoption, and move with confidence in the agentic era.”

The integrated SSE solution reinforces Tech Mahindra and Cisco’s leadership in unified cloud-security, helping enterprises simplify secure access, strengthen resilience and accelerate digital transformation in an increasingly distributed and AI-driven world.

 

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SOURCE Tech Mahindra

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