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BRI cultivates digital talent in Malaysia

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BEIJING, Nov. 6, 2024 /PRNewswire/ — A news report from chinadaily.com.cn:

Using NFC on your phone to enter a subway station, paying for a coffee with a digital wallet, ordering a favorite bag from a livestream shopping session… nearly every aspect of daily life in China is permeated by the “digital” touch. It’s no exaggeration to say that China has become the one country in the world where “one smartphone can do it all”.

In 1994, China gained access to the internet, and subsequently, a wave of internet companies emerged like bamboo shoots after a spring rain. Shopping, ordering food, booking rides, reserving hotels, and other daily tasks can now be accomplished through apps developed by these companies. Digital technology has become one of the preeminent means of navigating daily life.

Riding the wave of technological innovation in the Fourth Industrial Revolution, China’s digital economy surged from 16.2 trillion yuan in 2014 to approximately 56.1 trillion yuan in 2023, with its share of GDP rising from 25.1 percent to around 44 percent.

At the recent BRI summit, major importance was placed on the proposal to “build a Digital Silk Road”. The development of the Digital Silk Road has spearheaded the collaborative construction of digital infrastructure, financial and logistics systems across countries, serving as a new engine driving the digital transformation of societies and economies along the Belt and Road.

As the core region of the “Digital Silk Road,” Southeast Asia has seen years of proactive investment and strategic planning from Chinese digital companies, replicating and promoting successful domestic models.

Malaysia, one of the first countries to respond to the Belt and Road Initiative, launched its own digital blueprint in 2021, aiming to achieve its digital transformation goals within ten years. Tan Sri Muhyiddin Yassin, Malaysian prime minister at the time, anticipated that the blueprint would create 500,000 digital-related jobs by 2025, contributing 22.6 percent to the country’s GDP.

Economic development relies on the support of talent, and learning from China is one effective strategy that Malaysia has been implementing. As a result, under the Belt and Road Initiative, higher education bodies in the two countries are exploring new models for the joint cultivation of international talent.

Earlier this year, for instance, Guangxi Vocational and Technical College of Finance and Tunku Abdul Rahman University of Management and Technology inaugurated the China-Malaysia Institute of Modern Craftsmanship of Digital Economy in Kuala Lumpur. This institute integrates cutting-edge technologies such as big data analytics and AIGC applications into the training of digital economy professionals.

Speaking at a BRI forum at University of Science and Technology Beijing on Thursday, Ong Thai Kiat, an associate dean at the Department of Materials Engineering of Tunku Abdul Rahman University of Management and Technology, said the combination of “Chinese language and vocational skills” has gradually become a sought-after trait among candidates recognized by Malaysian companies. He confidently stated that, by learning from China, these students’ employment prospects are limitless.

Ong said, “The first batch of students has already participated in the TikTok Comprehensive Marketing Advanced Training Camp, and more tailored courses for digital enterprises will be set up in the future.”

Economic cooperation has always been the cornerstone of China–Malaysia relations. Having just celebrated the 50th anniversary of diplomatic relations, the scope for cooperation between the two countries in the digital economy will be even broader, said Ong.

Yan Bingchen, deputy Party secretary and deputy director-general of Education Department of Guangxi Zhuang Autonomous Region believes that the institute not only elevates the educational standards of both nations but also furnishes robust talent reservoirs for enterprises from both sides to expand their global presence. This synergy not only drives technological innovation but also empowers advanced artificial intelligence solutions to bolster the advancement of the “Belt and Road” digital economy initiative, Yan said.

View original content:https://www.prnewswire.com/news-releases/bri-cultivates-digital-talent-in-malaysia-302298250.html

SOURCE chinadaily.com.cn

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

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July 23, 2026

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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XLCS Partners advises Concurrent Utility Services on sale to UniTek Global Services

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2 minutes ago

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July 23, 2026

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NASHVILLE, Tenn., July 23, 2026 /PRNewswire/ — XLCS Partners, Inc., a leading middle market investment bank, is pleased to announce that it served as exclusive M&A advisor to Concurrent Utility Services LLC on its acquisition by UniTek Global Services, Inc., a portfolio company of New Mountain Finance Corporation (Nasdaq: NMFC) and its affiliates, and BTG Pactual Strategic Capital.

Headquartered in Miami, Florida, Concurrent is a licensed general and electrical contractor providing infrastructure development and maintenance services to electric utilities, telecom providers, and land developers throughout the Southeast United States. The company’s capabilities span overhead and underground utility construction, professional telecom services, emergency service restoration, in-building networks, environmental services, and data center development. Backed by a safety-first culture and an experienced workforce, Concurrent has built a strong regional platform and a reputation for quality across the markets it serves.

UniTek is a leading digital infrastructure services provider supporting the expansion of fiber and data center connectivity across the U.S. and Canada. With over 600 employees and 60 locations, UniTek delivers a full suite of infrastructure services. The acquisition of Concurrent accelerates UniTek’s Power Services Division, which launched in July 2025 to broaden the company’s maintenance, repair, upgrade, and new infrastructure development services for the power sector. Concurrent’s established Southeast footprint and power capabilities directly complement UniTek’s existing broadband and data center infrastructure platform, positioning the combined company to capitalize on growing demand for resilient, modernized power infrastructure. Concurrent will continue to operate under its established brand, maintaining uninterrupted service for its customers.

“Selling Concurrent was one of the biggest decisions of my career, and Anthony, Jay, and the XLCS team guided us through every step with professionalism and genuine care for our people,” said Steve Sarno, CEO of Concurrent. “They stayed fully engaged throughout, gave us honest and thoughtful advice, kept our best interests front and center, and delivered an outcome that exceeded our expectations. I would recommend them without hesitation to any owner considering a transaction.”

XLCS acted as the exclusive M&A advisor to Concurrent, and the transaction was led by Anthony Contaldo, Partner, and Jay Cremer, Vice President. The transaction was completed on July 1, 2026.

About XLCS Partners, Inc.

XLCS Partners is a leading global investment banking firm providing M&A advisory services. Visit www.xlcspartners.com for more information.

Media Contact: 
Kendra Span 
kspan@xlcspartners.com
615-379-7783

View original content to download multimedia:https://www.prnewswire.com/news-releases/xlcs-partners-advises-concurrent-utility-services-on-sale-to-unitek-global-services-302833542.html

SOURCE XLCS Partners, Inc.

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Fathom Applauds Introduction of the FRONTIER Act, the First Federal Blueprint for Independent AI Verification

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July 23, 2026

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Reps. Lori Trahan (D-MA-03) and Jay Obernolte (R-CA-23) introduce a bill to build a competitive marketplace of independent verifiers for frontier AI models.

WASHINGTON, July 23, 2026 /PRNewswire/ — Fathom welcomes the introduction of the FRONTIER Act, the most complete federal framework yet for independent, third-party verification of frontier AI. The legislation is built to earn public trust as AI technology continues to accelerate. As frontier systems begin to take autonomous action in the world, the gap between what these models can do and our ability to keep them in check is widening. FRONTIER is the starting point to close that gap.

“AI governance keeps running into the same wall. The technology is hard to measure and it moves faster than any law can keep up with,” said Andrew Freedman, Co-Founder and CEO of Fathom. “Trying to write the perfect rules and freezing them in place won’t work. What will work is a competitive market of independent verifiers who are accountable for real-world outcomes and who the government can actually count on. The FRONTIER Act shows we can move fast and still get this right.”

The bill gets the fundamentals correct. It sets one public standard – the adequate mitigation of catastrophic risk – and holds both the AI companies and their independent verifiers accountable to it. FRONTIER does not freeze a single testing method into statute. Instead, it licenses competing verification organizations, allows them to sharpen their methods, and gives the government the power to revoke a license when a verifier’s work does not hold up in the field. That is how you build a system that keeps pace with the science instead of falling behind it.

Fathom thanks Reps. Trahan and Obernolte for their leadership, and for their courage in releasing a discussion draft, inviting scrutiny, and incorporating substantive improvements from across the field. One priority improvement as the bill advances: giving the government a fuller range of tools to act upstream – for pushing companies to close identified gaps in risk mitigation early, rather than only once a catastrophe is imminent. We are committed to working with these sponsors, committees of jurisdiction, and Congressional leadership to continue refining the bill in the weeks and months ahead.

About Fathom
Fathom is an independent nonprofit whose mission is to build a governance architecture that helps society navigate the transition to a world with AI by fostering trust, safety, and innovation. Fathom has developed and championed the independent verification model for AI and works with policymakers across the country to put it into practice. Learn more at http://fathom.org.

View original content to download multimedia:https://www.prnewswire.com/news-releases/fathom-applauds-introduction-of-the-frontier-act-the-first-federal-blueprint-for-independent-ai-verification-302833546.html

SOURCE Fathom AI Inc.

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