DGAP-News: ABIVAX / Key word(s): Miscellaneous
ABIVAX: Abivax announces successful oversubscribed EUR 49.2M cross-over financing with top-tier US and European Biotech investors
02.09.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Not for distribution in or into the United States, Australia, Canada or Japan or to US persons.
 
ABIVAX ANNOUNCES SUCCESSFUL OVERSUBSCRIBED EUR 49.2M CROSS-OVER FINANCING WITH TOP-TIER US AND EUROPEAN BIOTECH INVESTORS
This financing was subscribed by new and existing US and European biotech investors, led by TCGX, with the participation from Venrock Healthcare Capital Partners, Deep Track Capital, Sofinnova Partners, Invus and Truffle Capital
Proceeds to be primarily used for further advancing the obefazimod global phase 3 clinical study program in ulcerative colitis, expanding the cash runway to the end of Q1 2023
The funding consists of a EUR 46.2M reserved equity capital increase and a EUR 2.9M issuance of royalty certificates
PARIS, FRANCE, September 2^nd, 2022 – 7.30 a.m. (CEST) – Abivax (Euronext Paris: FR0012333284 – ABVX) (the “Company”), a phase 3 clinical-stage biotechnology company harnessing the immune system to develop novel treatments for inflammatory diseases, viral diseases and cancer, today announces the successful completion of an oversubscribed EUR 49.2M financing with high-quality US and European biotech specialist investors, led by TCGX, with participation from Venrock Healthcare Capital Partners, Deep Track Capital, Sofinnova Partners, Invus, and Truffle Capital through the completion of two transactions: (i) a reserved capital increase of approximately EUR 46.2M through the issuance of 5,530,000 newly-issued shares with a nominal value of EUR 0.01 per share (the “New Shares”), representing 33% of its current share capital, at a subscription price of EUR 8.36 per share (the “Capital Increase”) and (ii) the issuance of royalty certificates (the “Royalty Certificates”) for an amount of EUR 2.9M (together with the Capital Increase, the “Transaction”).
Prof. Hartmut J. Ehrlich, M.D., CEO of Abivax said: “We are excited to announce the successful completion of Abivax’s oversubscribed capital increase, along with the issuance of royalty certificates that jointly amount to EUR 49.2M. With these new financial resources, we will pursue the Company’s strategic priority to conduct and timely complete our late-stage global clinical phase 3 program of obefazimod for the treatment of ulcerative colitis. Following the compelling results of the previous obefazimod maintenance studies in UC, we are confident to confirm its excellent safety and efficacy profile in the upcoming phase 3 induction and maintenance studies. There is still a very high need for novel therapeutic management options that offer a constant and long-lasting improvement of the quality of life of patients suffering from chronic inflammatory diseases. Abivax is highly committed to fully exploit the anti-inflammatory potential of our lead compound obefazimod across different indications, starting with moderate to severe ulcerative colitis.”
Didier Blondel, CFO of Abivax, added: “We are pleased that Abivax could attract new top-tier US biotech investors, TCGX, Venrock and Deep Track Capital, as well as our existing US and European biotech investors, for the capital increase and royalty certificates. The commitment of these investors, especially considering the currently very challenging financing environment, is an important confirmation of the potential of obefazimod in ulcerative colitis and the entire chronic inflammatory disease field. Based on our current assumptions, our cash runway has been extended until end of Q1 2023. We will make targeted use of these financial resources, mainly for the conduct and completion of our phase 3 clinical program in order to provide obefazimod as a long-lasting and effective treatment to patients in need and to maximize shareholder value. We are committed to completing this funding in due course through additional non-dilutive and dilutive financial resources in order to secure the full financing of our UC phase 3 program.”
Reasons for the issuance and use of the net proceeds of the Transaction, equal to EUR 46M
The planned use of the net proceeds of the Transaction is, based on the Company’s current plans, as follows (on an indicative basis):
Launch and continuation of the clinical programs of obefazimod (ABX464), the Company’s lead product in advanced development:
For ulcerative colitis (UC): continuation of the phase 2a and phase 2b maintenance studies and continuation of the global pivotal phase 3 program, which was initiated in the first half of 2022. The phase 3 program will combine two induction studies and one single maintenance study, involving a total of 1,200 patients and over 600 clinical study sites, mainly in North America, Europe and Asia. The first patient is expected to be enrolled into the phase 3 program during September 2022;
For rheumatoid arthritis (RA): continuation and completion of the phase 2a maintenance study; and
Continuation of the R&D work on obefazimod.
Close to 80% of the net proceeds of the Transaction will be allocated to the development of obefazimod as per the above (and primarily for the phase 3 program).
Financing of R&D and working capital and other general purposes of the Company, for around 8% of the proceeds; and
Redemption of (and payment of amounts payable pursuant to) existing indebtedness, for around 12% of the proceeds (approx. EUR 5.5M split between EUR 4.8M paid under the Kreos loans and EUR 0.7M paid under the OCEANE convertible bonds).
The Company expects that the proceeds from the Transaction will provide the Company with financial resources to fund its operations through Q1 2023, based on a prioritization of its UC program.
The additional cash needs of the Company (prior to the Transaction) for the upcoming 12-month period amount to approximately EUR 100M, i.e., EUR 54M, in addition to the net proceeds of the Transaction of EUR 46M.
To cover these additional cash needs, the Company is evaluating various different financing tools, both dilutive and non-dilutive. In particular the Company has initiated discussions with lenders with the aim of securing in the short term a mix of dilutive and non-dilutive financings for an additional amount of up to EUR 50M.
The Company may consider further equity financing.
In the absence of the required financing, the Company will review cost-cutting measures which could entail postponing or suspending some of its programs.
The total costs of the phase 3 UC program until the end of 2024, which is the expected date of the results of the two phase 3 induction studies, is estimated by the Company to amount to EUR 200M. Therefore, an additional non-dilutive and/or dilutive financing of EUR 154M is required to complement the EUR 46M proceeds of the Transaction.
Key characteristics of the Transaction
Capital increase
The New Shares are being issued through a capital increase, without existing shareholders’ preferential subscription rights, reserved to a specified category of investors (investors investing in the pharma sector) pursuant to the 19^th resolution of the Annual General Shareholders’ Meeting held on June 9, 2022.
In accordance with the Board of Directors’ internal rules, the representatives of Truffle Capital, Sofinnova Partners and of Santé Holding, as well as Mr. Philippe Pouletty, did not participate in the deliberations of the Board of Directors authorizing the Capital Increase.
The number of ordinary shares to be subscribed, the subscription price and the list of investors that may subscribe were decided by the Company’s Chief Executive Officer (Directeur Général), in accordance with a sub-delegation granted by the Company’s Board of Directors on August 31, 2022.
The subscription price of the New Shares was set at EUR 8.36, i.e. with a 9.6% premium to the last closing price (as of September 1, 2022).
Funds managed by Truffle Capital, which held a 30.5% stake in the Company, subscribed to the Capital Increase for an amount of EUR 1.6M corresponding to 197,000 New Shares. After the Capital Increase, funds managed by Truffle Capital will hold 23.8% of the share capital of the Company.
Sofinnova Partners, which held a 11.6% stake in the Company, subscribed to the Capital Increase for an amount of EUR 4.9M corresponding to 584,000 New Shares. After the Capital Increase, Sofinnova Partners will hold 11.3% of the share capital of the Company.
Santé Holding, which held a 3.6% stake in the Company, subscribed in the Capital Increase for an amount of EUR 0.8M corresponding to 101,000 New Shares. After the Capital Increase, Santé Holding will hold 3.2% of the share capital of the Company.
Settlement and delivery of the New Shares is expected to occur on or around September 7, 2022. Upon delivery, the New Shares will be fungible with the Company’s existing shares.
The New Shares will be admitted to trading on Euronext Paris with ticker symbol ABVX on September 7, 2022, and bear ISIN FR0012333284.
Royalty Certificates
The Royalty Certificates are being issued pursuant to a decision of the board of directors of the Company held on August 31, 2022, in accordance with the provisions of Article L. 228-36-A of the French Commercial Code to the same investors as the ones who participated in the Capital Increase.
The Royalty Certificates give right to their holders to royalties equal to 2% of the future net sales of obefazimod (worldwide and for all indications) as from the commercialization of such product. The amount of royalties that may be paid under the Royalty Certificates is capped at EUR 172M. The Royalty Certificates do not have any additional financial rights besides the right to royalties referred to above. In particular, the Royalty Certificates do not grant any financial rights on any other products that may be developed by the Company beyond obefazimod.
The subscription price for the Royalty Certificates has been set by the Company at EUR 2.9M and has been calculated based on impact of the underlying royalties on the net present value (NPV) of obefazimod evaluated at 1.6% by the Company. The NPV calculations depend strongly on assumptions made by the Company with regards to the chances of success of its studies, the commercialization calendar of obefazimod, the market size addressed by obefazimod, the market share of the product and the actualization rate (set at 14% by the Company). The NPV allocated to the Royalty Certificates has been subject to adjustments to reflect the discount which exists between the NPV of the Company’s program and their valuation by the market as reflected by the Company’s share price after taking into account the completion of the Transaction.
The Royalty Certificates have a term of 15 years and do not provide for an accelerated repayment in case of change of control. The Company may at any time reimburse in full the Royalty Certificates by paying an amount equal to the cap of EUR 172M minus any royalties paid prior to such reimbursement. The Royalty Certificates are subject to a one-year lock-up after which they will become freely transferable (in whole, but not in part). The Royalty Certificates will not be listed and will not be assigned an ISIN.
Lock-up agreements
In the context of the Capital Increase, the Company has agreed to a lock-up undertaking on the issuance or sale of shares or of securities giving access to the share capital, for a period of 90 calendar days, subject to certain customary exceptions or waiver.
The Company’s board members and key officers who own shares of the Company have agreed to a lock-up undertaking on the sale of shares or of securities giving access to the share capital, for a period of 90 calendar days, subject to certain customary exceptions or waiver.
Investors participating in the Capital Raise have agreed to a one (1) year lock-up on the New Shares subject to certain customary exceptions or waiver.
Impact of the Capital Increase on the share capital
Following settlement and delivery, the New Shares will represent 24.8% of the share capital of the Company and the Company’s total share capital will be EUR 223,131.85 divided into 22,313,185 shares.
For illustration purposes, a shareholder holding 1% of the Company’s share capital prior to the Capital Increase, will hold 0.75% of the Company’s share capital upon completion of the Capital Increase (or 0.69% on a fully-diluted basis).
 
Ownership interest
(%)
On a non-diluted basis
On a fully-diluted basis⁽¹⁾
Before the issuance of the New Shares
1.0000%
0.8857%
After the issuance of the New Shares
0.7522%
0.6856%
(1) After issuance of 2,165,127 new shares resulting from the exercise of all the existing dilutive securities (warrants, founder warrants (BSPCE), free share allocations, and convertible bonds).
Evolution of the shareholding structure following the Transaction
The shareholding structure of the Company prior to the issuance of the New Shares is set forth below:
Shareholders
Number of shares on a non-diluted basis
% of capital on a non-diluted basis
% of voting rights on a non-diluted basis
% of capital on a fully-diluted basis
% of voting rights on a fully-diluted basis
Holding Incubatrice
210,970
1.26%
1.47%
1.11%
1.34%
Truffle Capital
5,112,579
30.46%
41.38%
26.98%
37.83%
Sofinnova Partners
1,945,739
11.59%
14.92%
10.27%
13.64%
Santé Holding
602,080
3.59%
2.61%
3.69%
2.77%
Management
138,371
0.82%
1.20%
4.56%
3.96%
Board (except Truffle Capital, Sofinnova Partners and Santé Holding)
275,000
1.64%
1.19%
1.88%
1.41%
Employees
6,914
0.04%
0.03%
0.35%
0.26%
Consultants
400
0.002%
0.002%
0.24%
0.18%
Others*
630,689
3.76%
3.23%
9.43%
7.53%
Treasury shares
10,000
0.06%
0.00%
0.05%
0.00%
Float
7,850,443
46.78%
33.98%
41.43%
31.07%
Total
16,783,185
100.00%
100.00%
100.00%
100.00%
* Other: long-standing minority shareholders or stock subscription warrant (BSA)/founder warrant (BCE) holders, Kepler Cheuvreux (based on the ownership disclosure thresholds declared on July 3, 2019) and former employees of the Company, former Board members and certain committee members.
 
The issuance of the New Shares will have the following impact on the allocation of the share capital and the voting rights of the Company:
Shareholders
Number of shares on a non-diluted basis
% of capital on a non-diluted basis
% of voting rights on a non-diluted basis
% of capital on a fully-diluted basis
% of voting rights on a fully-diluted basis
Holding Incubatrice
210,970
0.95%
1.19%
0.86%
1.10%
Truffle Capital
5,309,579
23.80%
34.07%
21.69%
31.68%
Sofinnova Partners
2,529,739
11.34%
14.07%
10.33%
13.08%
Santé Holding
703,080
3.15%
2.46%
3.27%
2.60%
Management
138,371
0.62%
0.97%
3.53%
3.25%
Board (except Truffle Capital, Sofinnova Partners and Santé Holding)
275,000
1.23%
0.96%
1.46%
1.16%
Employees
6,914
0.03%
0.02%
0.27%
0.21%
Consultants
400
0.002%
0.001%
0.19%
0.15%
Other*
630,689
2.83%
2.61%
7.30%
6.18%
Treasury shares
10,000
0.04%
0.00%
0.04%
0.00%
Investors in the Transaction (other than Truffle Capital, Sofinnova Partners and Santé Holding)
4,648,000
20.83%
16.23%
18.99%
15.09%
Float
7,850,443
35.18%
27.42%
32.07%
25.49%
Total
22,313,185
100.00%
100.00%
100.00%
100.00%
* Other: long-standing minority shareholders or stock subscription warrant (BSA)/founder warrant (BCE) holders, Kepler Cheuvreux (based on the ownership disclosure thresholds declared on July 3, 2019) and former employees of the Company, former Board members and certain committee members.
Advisors
Bryan Garnier & Co. acted as Sole Global Coordinator and Bryan Garnier & Co. and LifeSci Capital LLC acted as Joint Bookrunner for the Capital Increase.
Dechert (Paris) LLP acted as legal advisor to the Company in connection with the Transaction.
Information available to the public and risk factors
Detailed information regarding the Company, including its business, financial information, results, prospects and related risk factors are contained in the Company’s 2022 Universal Registration Document filed with the French Autorité des marchés financiers (the “AMF”) on April 28, 2022 under number D.22-0372. This document, as well as other regulated information and all of the Company’s press releases, are available on the website of the Company (www.abivax.com).
Your attention is drawn to the risk factors related to the Company and its activities presented in chapter 3 of its 2022 Universal Registration Document. The 2022 Universal Registration Document is available on the websites of the Company (www.abivax.com) and the AMF (www.amf-france.org).
The Company will file, following completion of the Transaction, a prospectus to the AMF for the purposes of the listing of the New Shares, which will include a securities note (note d’opération) and an amendment to the 2022 Universal Registration Document. The amendment to the 2022 Universal Registration Document will include an update of the liquidity risk and the dilution risk. Additionally, the securities note will include specific risks related to the instruments issued in the context of the Transaction.
This press release does not constitute a prospectus under the Prospectus Regulation (as defined below) or an offer of securities to the public.
*****
About Abivax (www.abivax.com)
Abivax, a phase 3 clinical stage biotechnology company, is developing novel therapies that modulate the body’s natural immune machinery to treat patients with chronic inflammatory diseases, viral infections, and cancer. Abivax, founded by Truffle Capital, is listed on Euronext compartment B (ISIN: FR0012333284 – Mnémo: ABVX). Based in Paris and Montpellier, Abivax has two drug candidates in clinical development, obefazimod (ABX464) to treat severe inflammatory diseases, and ABX196 to treat hepatocellular carcinoma. More information on the company is available at www.abivax.com. Follow us on Twitter @ABIVAX_.
Contacts
Abivax                 
Communications
Regina Jehle
regina.jehle@abivax.com
+33 6 24 50 69 63
Investors
LifeSci Advisors
Ligia Vela-Reid
lvela-reid@lifesciadvisors.com
+44 7413 825310
Press Relations & Investors Europe
MC Services AG
Anne Hennecke
anne.hennecke@mc-services.eu
+49 211 529 252 22
Public Relations France
Actifin
Ghislaine Gasparetto
ggasparetto@actifin.fr
+33 6 21 10 49 24
Public Relations France
Primatice
Thomas Roborel de Climens
thomasdeclimens@primatice.com
+33 6 78 12 97 95
Public Relations USA     
Rooney Partners LLC
Jeanene Timberlake
jtimberlake@rooneypartners.com
+1 646 770 8858
 
Forward Looking Statements
This press release may contain certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release about future events are subject to, without limitation, (i) change without notice, (ii) factors beyond the Company’s control, (iii) clinical trial results, (iv) regulatory requirements (including, among other things, the ability of the Company to obtain regulatory approval for its products), (v) increased manufacturing costs, (vi) market access, (vii) competition and (viii) potential claims on its products or intellectual property. These statements may include, without limitation, any statements preceded by, followed by or including words such as “target,” “believe,” “expect,” “aim,” “intend,” “may,” “anticipate,” “estimate,” “plan,” “objective,” “project,” “will,” “can have,” “likely,” “should,” “would,” “could” and other words and terms of similar meaning or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the Company’s control that could cause the Company’s actual results, performance or achievements to be materially different from the expected results, performance or achievements expressed or implied by such forward-looking statements. A description of these risks, contingencies and uncertainties can be found in the documents filed by the Company with the AMF, including the 2022 Universal Registration Document, as well as in the documents that may be published in the future by the Company. Furthermore, these forward-looking statements, forecasts and estimates are made only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to, and will not, update any forward-looking statements, forecasts or estimates to reflect any subsequent changes that the Company becomes aware of, except as required by law.
This press release has been prepared in French and English. In the event of any differences between the texts, the French language version shall supersede.
Disclaimer
This press release may not be released, published or distributed, directly or indirectly, in or into the United States of America, Australia, Canada or Japan or to US persons. This press release and the information contained herein do not constitute either an offer to sell or purchase, or the solicitation of an offer to sell or purchase, securities of Abivax (the “Company”).
No communication or information in respect of the offering by the Company of any securities mentioned in this press release may be distributed to the public in any jurisdiction where registration or approval is required. No steps have been taken or will be taken in any jurisdiction where such steps would be required. The offering or subscription of the Company’s securities may be subject to specific legal or regulatory restrictions in certain jurisdictions. None of the Company and Bryan, Garnier & Co and LifeSci Capital LLC (the “Joint Bookrunners”) takes any responsibility for any violation of any such restrictions by any person.
This press release does not, and shall not, in any circumstances, constitute a public offering, a sale offer nor an invitation to the public in connection with any offer, of securities. The distribution of this document may be restricted by law in certain jurisdictions. Persons into whose possession this document comes are required to inform themselves about and to observe any such restrictions.
This announcement is an advertisement and not a prospectus within the meaning of the Regulation (EU) 2017/1129, as amended (the “Prospectus Regulation”).
With respect to the Member States of the European Economic Area (including France) (the “Member States”), no action has been or will be undertaken to make an offer to the public of the securities referred to herein requiring a publication of a prospectus in any Member State. As a result, the securities of the Company may not and will not be offered in any Member State except in accordance with the exemptions set forth in Article 1(4) of the Prospectus Regulation, or under any other circumstances which do not require the publication by the Company of a prospectus pursuant to Article 1 of the Prospectus Regulation and/or to applicable regulations of that relevant Member State.
For the purposes of the provision above, the expression “offer to the public” in relation to any shares of the Company in any Member State means the communication in any form and by any means of sufficient information on the terms of the offer and any securities to be offered so as to enable an investor to decide to purchase any securities, as the same may be varied in that Member State.
This document does not constitute an offer to the public in France and the securities referred to in this press release can only be offered or sold in France pursuant to Article L. 411-2, 1° of the French Monetary and Financial Code (Code monétaire et financier) to qualified investors (investisseurs qualifiés) acting for their own account, as defined in Article 2 point (e) of the Prospectus Regulation. In addition, in accordance with the authorization granted by the general meeting of the Company’s shareholders dated June 4, 2021, only the persons pertaining to the categories specified in the 18th resolution of such general meeting may subscribe to the offering of New Shares.
This document may not be distributed, directly or indirectly, in or into the United States. This document does not constitute an offer of securities for sale nor the solicitation of an offer to purchase securities in the United States or any other jurisdiction where such offer may be restricted. Securities may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the “Securities Act”). The securities of the Company have not been and will not be registered under the Securities Act, and the Company does not intend to make a public offering of its securities in the United States.
The distribution of this document (which term shall include any form of communication) is restricted pursuant to Section 21 (Restrictions on “financial promotion”) of Financial Services and Markets Act 2000 (“FSMA”). This document is only being distributed to and directed at qualified investors as defined in Article 2(e) of the Prospectus Regulation as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“EUWA”) who (i) are outside the United Kingdom, (ii) have professional experience in matters relating to investments and who fall within the definition of investment professionals in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Financial Promotion Order”), (iii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Promotion Order or (iv) are persons to whom this communication may otherwise lawfully be communicated (all such persons referred to in (i), (ii), (iii) and (iv) above together being referred to as “Relevant Persons”). This document must not be acted on or relied on in the United Kingdom by persons who are not Relevant Persons. Any investment or investment activity to which this document relates is available only to Relevant Persons, and will be engaged in only with such persons in the United Kingdom.
The securities referred to in this press release may not and will not be offered, sold or purchased in Australia, Canada or Japan. The information contained in this press release does not constitute an offer of securities for sale in Australia, Canada or Japan.
Prohibition of sales to European Economic Area retail investors
No action has been undertaken or will be undertaken to make available any securities to any retail investor in the European Economic Area. For the purposes of this provision:
the expression “retail investor” means a person who is one (or more) of the following:
a retail client as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); or
a customer within the meaning of Directive (EU) 2016/97, as amended, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or
not a “qualified investor” as defined in the Prospectus Regulation; and
the expression “offer” includes the communication in any form and by any means of sufficient information on the terms of the offer so as to enable an investor to decide to purchase or subscribe the Company’s securities.
Consequently, no key information document required by Regulation (EU) No 1286/2014 (as amended, the “PRIIPs Regulation”) for offering or selling the New Shares or otherwise making them available to retail investors in the European Economic Area has been prepared and therefore offering or selling the New Shares or otherwise making them available to any retail investor in the European Economic Area may be unlawful under the PRIIPS Regulation.
Prohibition of sales to UK retail Investors
No action has been undertaken or will be undertaken to make available any securities to any retail investor in the United Kingdom.  For the purposes of this provision:
the expression “retail investor” means a person who is one (or more) of the following:
a retail client, as defined in Article 2(8) of Regulation (EU) № 2017/565, as it forms part of UK domestic law by virtue of the EUWA; or
a customer within the meaning of the provisions of the FSMA and any rules or regulations made under the FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client, as defined in point (8) of Article 2(1) of Regulation (EU) № 600/2014, as it forms part of domestic law by virtue of the EUWA; or
not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it forms part of domestic law by virtue of the EUWA; and
the expression “offer” includes the communication in any form and by any means of sufficient information on the terms of the offer to enable an investor to decide to purchase or subscribe the Company’s securities.
Consequently no key information document required by Regulation (EU) № 1286/2014, as it forms part of UK domestic law by virtue of the EUWA (the “UK PRIIPs Regulation”), for offering or selling the New Shares or otherwise making them available to retail investors in the UK has been prepared and therefore offering or selling the New Shares or otherwise making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
MIFID II product governance / Professional investors and ECPs only target market – The manufacturers’ target market assessment in respect of the New Shares has led to the conclusion that: (i) the target market for the New Shares is eligible counterparties and professional clients, each as defined in MiFID II; and (ii) all channels for distribution of the New Shares to eligible counterparties and professional clients are appropriate. Any person subsequently offering, selling or recommending the New Shares (a “distributor”) should take into consideration the manufacturers’ target market assessment; however, a distributor subject to MiFID II is responsible for undertaking its own target market assessment in respect of the New Shares (by either adopting or refining the manufacturers’ target market assessment) and determining appropriate distribution channels.

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The Chancellor Nadhim Zahawi has said he believes the move “will curtail Putin’s capacity to fund his war” in Ukraine.
As rising energy prices and a new gas levy in Germany are expected to triple fuel bills for consumers from autumn, pressure is mounting on the government to introduce a windfall tax on energy firms to fund further relief measures. But taxing "excessive" profits of energy companies has been a thorny issue for Germany's ruling coalition, with political resistance from a junior party and constitutional barriers. Germany's coffers have already been drained this year with two relief packages to mitigate the impact of rising energy prices on citizens, plus funds to upgrade the military and battle climate change.
The British Chamber of Commerce believes the UK is already in recession.
Starbucks named Laxman Narasimhan, a veteran of PepsiCo and other consumer brands, as its next chief executive on Thursday.
Barbiecore has been on the tip of everyone's tongue — and now pink-themed travel is also having a boom. Here are 7 pink hotels and holiday homes to book.
Ms Trevelyan was speaking to the Australian-British Chamber of Commerce on the final day of her visit on Friday.
BERLIN (Reuters) -Volkswagen's management and supervisory boards will meet on Monday to discuss whether the long-anticipated listing of sports car brand Porsche should go ahead in late September or early October, the carmaker said on Saturday. A decision will also be made on whether Volkswagen approves of the sale of 25% plus one share of ordinary shares in Porsche AG to Porsche SE, as laid out in a framework agreement by the two parties in February. That would give the Porsche and Piech families, which control Porsche SE, a blocking minority – a step that would bolster their push for greater control of the carmaker that was founded by their ancestor Ferdinand Porsche in 1931.
Ukrainian officials are scouring the UK for foundries to make cannon artillery casings as the country burns through thousands per day, The Telegraph understands.
BRUSSELS/BERLIN (Reuters) -The European Commission is seeking emergency powers to force companies to make key products and stockpile goods in a crisis or else face fines, according to an EU document seen by Reuters on Friday. The move is contested by some EU countries worried about a power grab by the EU executive, while critics say it smacks of China-style state capitalism. The Commission will need to thrash out details with EU countries and EU lawmakers before the proposal can become law in a process that will take months.
Tension over giant turbines that Moscow blames for the reduction of flows via the Nord Stream 1 gas pipeline has put the focus on the equipment it needs to operate. The crucial part is SGT-A65 (Trent 60), a Siemens Energy turbine that is 12 metres long, weighs 20 tonnes, and needs to be transported back to Gazprom's Nord Stream Portovaya compressor station following maintenance in July. The St. Petersburg-based company has said Canadian, EU and UK sanctions make delivery of a Siemens turbine to the Portovaya compressor station impossible.

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SAMSUNG DIGITAL CAMERA
Passenger traffic numbers for July
reported by Southwest
Florida International Airport
During July, 671,225 passengers traveled through Southwest Florida International Airport (RSW) in Fort Myers. This was a decrease of 17.6 percent compared to July 2021; however, it was still the second-best July in the 39-year history of the airport. Year-to-date, passenger traffic is up 13 percent compared to last year.
The traffic leader in July was Delta with 177,355 total passengers. Rounding out the top five airlines were Southwest (132,296), American (122,450), JetBlue (72,852) and United (68,847).
Southwest Florida International Airport had 5,213 aircraft operations, a decrease of 26 percent compared to July 2021. Page Field (FMY) saw 16,000 operations, a 58 percent increase compared to July 2021, which made it the best single month at FMY in nearly 40 years.
Southwest Florida International Airport served more than 10.3 million passengers in 2021 and is one of the top 50 U.S. airports for passenger traffic.
For more information, visit flylcpa.com or facebook.com/flyRSW.
Priority Marketing adds
Wilson as senior copywriter
Priority Marketing has added Ashley Wilson as the firm’s senior copywriter, a role in which she drafts strategic creative messaging for the full range of marketing tools, including advertising, brochures, video, direct mail, email, social media and websites.
Wilson brings 16 years of experience in marketing research, project coordination and copywriting to the team, contributing expertise as she collaborates with account managers, graphic designers, digital marketing specialists, web developers and others to execute copywriting projects customized to achieve each client’s marketing goals.
Before joining Priority Marketing, Wilson was a communications and marketing coordinator for the Washington, D.C.-based Association for Change Management Professionals, where she executed all internal and external marketing and communications for a global audience while serving as the leader for the organization’s aesthetic, brand and identity.
Wilson earned a bachelor of science degree in advertising and a master of science degree in integrated marketing and management communication from Florida State University.
Founded in 1992 by Teri Hansen, APR, Priority Marketing is Southwest Florida’s largest full-service marketing, advertising, public relations, website development and digital marketing agency celebrating its 30th anniversary in 2022. The firm has grown to include more than 50 strategists whose areas of expertise include brand development, public relations, graphic design, social media and email marketing, media planning, web solutions, event planning, video production, digital advertising and more.
For more information, please call 239-267-2638 or visit PriorityMarketing.com.
Women in Business program to
spotlight self-defense class Sept. 7
The Greater Fort Myers Chamber of Commerce’s Women in Business Committee will host a networking program from 4-6 p.m., Wednesday, Sept. 7, that will spotlight self-defense.
Hosted in partnership with the Lee County Sheriff’s Office, the program will feature a special self-defense class highlighting physical techniques and strategies to evade potentially dangerous situations. The event will be hosted at X3 Performance and Physical Therapy, located at 14651 Jetport Loop, #150, in Fort Myers. The September event is sponsored by Orthopedic Specialists of SW Florida and KTD Accounting is the scholarship sponsor. Women in Business’ Annual Sponsor is HBKS Wealth Advisors and HBK CPAs & Consultants.
The event’s nonprofit spotlight is Abuse Counseling & Treatment, Inc., a private, not-for-profit agency committed to serving victims of domestic violence, sexual assault and human trafficking.
The Women in Business program is $10 for chamber members and $20 for future members. Attendees can register in advance at FortMyers.org or call 239-332-2930.
Serving Lee County and surrounding areas since 1989, the Greater Fort Myers Chamber of Commerce, Inc. is a business organization of professionals who support and promote a progressive, sustainable community. The Chamber represents over 725 businesses, professionals, and individuals throughout Lee County, providing opportunities for members to participate in a variety of meaningful networking, educational and community- and business-focused programs and events.
The Greater Fort Myers Chamber of Commerce is located at 2310 Edwards Drive in downtown Fort Myers. For additional information regarding membership opportunities or events please call 239-332-2930 or visit www.fortmyers.org.
For the latest news and updates, follow the chamber on Facebook at www.facebook.com/gfmcc.
Pavese Law Firm welcomes two
Pavese Law Firm has announced recent law school graduates Brett G. Bleier and Luke L. Kane have joined the firm.
Bleier is a member of the firm’s condominium & homeowners/transactional law group. His practice will encompass a broad range of matters including enforcement of document restrictions, protecting and defending the association’s interest in its property and governing documents, simple sales agreements, and complex contract negotiations.
Bleier studied international relations at the James Madison College of Michigan State University. After graduating, he moved to Naples where he began law school at Ave Maria School of Law. He received his juries doctorate degree after graduating magna cum laude.
Kane is a member of the firm’s litigation group where he will be representing clients in a wide range of civil litigation and business law matters.
Kane graduated from Florida State University, cum laude, with a bachelor’s degree in political science and a minor in communications.
Kane was raised in Southwest Florida and attended St. Francis Xavier and Bishop Verot Catholic High School.
Pavese Law Firm is a full-service law firm with offices in Fort Myers, Cape Coral and West Palm Beach. The firm provides a broad range of legal services for individuals, families, small businesses and large corporations. Practice areas include agricultural, banking and finance, business and corporate, civil litigation, condominium and homeowners’ association law, construction, employment, environmental and water, estate planning, probate and trusts, marital and family, land use and government, and real estate law. Established in 1949 as a one-person general practice firm, Pavese Law Firm has grown into one of the largest legal practices in Southwest Florida.
For more information, visit paveselaw.com.
Iron Ridge Insurance Services
adds executive risk
manager/client advisor
Iron Ridge Insurance Services has welcomed Susan L. Dusenbery as executive risk manager/client advisor. As Iron Ridge continues to grow – more than doubling in the last two years – Dusenbery brings proven experience as an insurance industry professional specializing in all aspects of risk management, relationship building, and strategic planning.
Dusenbery’s experience encompasses all aspects of risk management, insurance, project management, fixed asset and finance, problem resolution, data analysis, team leadership, relationship building and strategic thinking. She has experience in designing comprehensive risk management processes, procedures, and policies to accomplish organizational objectives.
Dusenbery earned a master of business administration from WIU, Illinois, and a bachelor of arts degree in business administration, accounting, from Midway College, Kentucky. She also holds ARM and CSRM certifications.
Iron Ridge Insurance Services primarily serves commercial clients, with particular focus on healthcare, architects and engineers, legal practices, condo and homeowners’ associations, and religious organizations.
For an evaluation of commercial or personal insurance coverage, contact Iron Ridge Insurance Services at 800-775-8526 or info@IronRidgeUS.com.
Elite DNA Behavioral Health, a comprehensive behavioral and mental health care provider, recently hosted a …
Copyright © Cape Coral Breeze | https://www.capecoralbreeze.com | 2510 Del Prado Blvd., Cape Coral, FL 33904 | 239-574-1110

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TL;DR: As of June 14, you can get a lifetime subscription to the iScanner App(opens in a new tab) for just $39.99. That’s 79% off its regular price of $199.90.
Snapping a shadowy photo is hardly the most effective way of sending critical work documents, financial information, or schoolwork. And yet, it’s become the norm since the death of the scanner. If you’re seeking a more professional solution, consider a subscription to iScanner.
With iScanner, you can turn your iPhone into a fully-featured, powerful, and fast document scanner(opens in a new tab). No hardware necessary. The app can scan any kind of documents, ID cards, books, receipts, paper notes, whiteboards, schedules, photos, and more, and create high-quality, ready-to-send digital versions. It’s regularly $199, but you can save 79% and get a lifetime subscription for only $39.99 for a limited time. That’s not its lowest price ever, but it’s still a solid deal on an app you’ll use regularly.
Thanks to AI technology, iScanner gives you an ultra-clean and focused version of your document or photo without blurriness, pixelation, or shadows. You can even edit and markup your documents with just your iPhone camera if you need to. The AI will detect borders, crop documents, add signature stamps, blur sensitive information, and more. You can even add a PIN number to your documents to keep them under lock and key. When you’re ready to share, iScanner syncs up seamlessly with your email account, messenger apps, Dropbox, Google Drive, and more for your convenience. 
The AI is smart enough to do more than just clear up your scans, too. It also can turn your iPhone or iPad’s camera into a problem-solving tool that can count similar objects, measure a room, and even solve complex math equations.
When you’re switching apartments, doing your taxes, applying for a loan, buying a house, or just filling out a job application and suddenly find yourself needing a scanner, the convenience of having iScanner on your phone really pays off. Sign up for a lifetime subscription to the iOS version for only $39.99(opens in a new tab) for a limited time.
Prices subject to change.

More in Apps

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You are here: Influencer Marketing Hub » Influencer Marketing » The 9 Most Notable Digital Marketing Trends
Digital marketing is continually changing to meet the needs of its users. The arrival of Covid in 2020 turned the digital marketplace on its head, with lockdowns and changing shopping patterns. Allied with this has been the breakdown of many shipping chains and a virtual collapse of just-in-time delivery. These changes have made digital marketing more critical than ever, making clear digital marketing trends evident in this post-Covid world and beyond.

With more people doing their research online, combined with a reluctance by many to go in-store, there has been a notable increase in the use of Chatbots over the last couple of years. 
Of course, this isn’t just due to increased demand. Chatbots have become more realistic and lifelike in recent years, giving people a much-improved user experience. In addition, advances in artificial intelligence (AI), machine learning (ML), natural language processing (NLP), and customer sentiment analysis have all improved the ability of chatbots to interact in a more human-like manner. As a result, firms are enhancing their customer service experience for customers without a sizable increase in investment.
Tidio reported that 88% of customers had at least one conversation with a chatbot during 2021. Their survey found that in addition to customer service and marketing, chatbots are used in other areas such as data collection, human resources, and operations. They are now an attractive option for eCommerce stores, B2B companies, real estate, and even healthcare.
Customer experience (CX) is becoming increasingly more important. Many consumers are willing to pay more for goods and services if they receive a quality experience than merely paying firms selling at the lowest price. Conversational commerce can help improve the customer experience. 
Conversational commerce (aka conversational marketing or chat commerce) uses communication platforms and messaging apps, for example, WhatsApp and Facebook Messenger, to market products, communicate with consumers and offer support at each stage of the sales funnel. 

Businesses are discovering how much their customers use messaging apps. Many people consider it a natural evolution to communicate with brands this way, just as they do many of their personal conversations. WhatsApp alone had about 2 billion active users as of early 2022.
Generation Z, in particular, has never been huge fans of typing. Sure, they have grown up using digital devices, but if they can avoid using a keyboard, they will. Voice search capabilities are increasing to the point that this is now the preferred input method for many. Amazon’s Alexa, Google Assistant, and Apple Siri have increasingly become part of everyday life. As far back as 2018, PWC found that people used voice commands on their smartphones (57%), tablets (29%), laptops (29%), desktops (29%), speakers (27%), TV remotes (21%), car navigation (20%), and wearables (14%). And voice search has undoubtedly increased significantly since then. 

Surprisingly, it isn’t just the younger generations discovering the ease of voice search. For example, 65% of 25-49-year-olds with voice-enabled devices talk to them at least once per day, as do 57% of those aged 50+.
Gartner discovered that in 2020, 30% of web browsing sessions were screenless. This clearly indicates a shift in how consumers interact with brands online.
Voice search users are increasingly searching for local results. According to Google, searches for “near me” business have increased dramatically over the past few years. Google reports that 58% of consumers have found local businesses using voice search.
Therefore, firms need to adjust their SEO to optimize for voice search. Methods include using natural language with direct answers to specific questions, schema markup and rich snippets, keeping My Business listing and eCommerce store data up-to-date, and ensuring all content is optimized and current.
Brands are discovering the benefits of creating campaigns that cover a range of digital marketing channels. This helps them reach a wider audience. In addition, most people don’t restrict themselves to a single digital channel, and omnichannel marketing allows brands to utilize the strengths of multiple channels.
The key to omnichannel marketing is to use all your channels to create a unified experience for each customer. Indeed, true omnichannel marketing doesn’t restrict itself to digital marketing. Instead, it includes some traditional marketing channels in its mix, recognizing that people aren’t 100% digital yet. Each channel interacts to create a unified voice and message for the brand.
Omnichannel marketing recognizes that consumers use a variety of channels at different stages of their day. For example, they may begin their day looking at Facebook before shifting to Instagram. Then they may check their emails. By this point, it’s time to go to work, with the radio playing as they go. On the way home, they may stop at the supermarket, see point-of-sale advertising, and listen to Spotify on their travels. Finally, they may stream a TV program or surf the net on their phone or tablet in the evening. This gives many potential touchpoints for a brand to reach consumers, delivering a unified but not identical message.
Note that omnichannel marketing subtly varies from multichannel marketing. Omnichannel marketing requires a transparent integration of your marketing efforts between your channels. For example, you’re not going to use identical PPC ads on all your social platforms, boring consumers with repetition. Yet nor are your messages so different that they may as well be separate campaigns. All marketing by a brand to a customer coordinates and tells part of a larger story in a seamless, unified way.
In 2021 Facebook (the company) rebranded to Meta. Considering the size and influence of Facebook’s assets that weren’t Facebook (the platform), separating the naming of the platform and the company made sense. At the time of the rebranding, Mark Zuckerberg announced that the company would be placing its future on its metaverse.
Bloomberg predicts that metaverse-related exchange-traded funds could balloon to $80 billion in assets under management by 2024, with annual fees of $600 million. 
The metaverse includes live entertainment, social networks, hardware, user-generated content, and technology infrastructure. It’s a shared virtual space where megatrends converge. It incorporates a multitude of virtual and augmented experiences. In the metaverse, users create avatars and move through a 3D world, interacting with others and the environment around them. The metaverse includes platforms such as Roblox, Minecraft, and Fortnite.
As people spend more time in the metaverse, the line between the real and virtual world is increasingly blurred. As a result, people are beginning to experience brands and even buy virtual products. For example, Vans collaborated with Roblox to create a virtual skate park. Here, they could practice their virtual skateboarding skills and then buy Vans products without leaving the metaverse.
Google rolled out a significant Page Experience update in 2021. This update integrated a new set of metrics known as Core Web Vitals into what Google traditionally referred to as “page experience.” Core Web Vitals are the baseline requirements for a site’s technical health. They effectively measure the user experience (UX) of a webpage, covering three main areas: loading, interactivity, and visual stability. These metrics measure how long it takes a user to get to your page, how easily the user initially interacts with it, and whether the user becomes disoriented due to inconsistencies in your page design.
The Page Experience update combined core web vitals with more traditional factors such as being mobile-friendly, safe browsing, HTTPS (as compared to merely HTTP), and having no intrusive interstitials.
Google has also highlighted the importance of the “People also ask” part of its search results. Indeed, it now shows up in about 48.6% of searches, often prominently placed above position one in a search. Therefore, as a marketer, you should include answers to common questions in your content. 
You might notice that quite a few of the more established pages on the Influencer Marketing Hub include FAQs. And Google is smart enough to select appropriate answers, even if the wording of what people ask is different from the exact wording on the page. So, for example, at the time of writing, if you search for “influencer marketing,” our Ultimate Guide tops the list. 

However, you will notice that Google has also included a “People Also Ask section,” and the first question is “What is an example of influencer marketing?” Google has selected a section from the FAQ in our 15 Influencer Marketing Examples to Power Your Influencer Campaign Planning post as the best answer for this question. However, when you look closely at the post, you can see that the actual question in the FAQ is “What brands use influencer marketing?” Despite being worded differently, Google’s algorithm is clever enough to recognize the similarity between the two questions.

In 2022, Google is all about user intent, rather than relying too closely on the words they use in their search.
With email marketing being one of the oldest forms of digital marketing, it is perhaps inevitable that people have been predicting its demise for some years. Yet email marketing isn’t going anywhere in a hurry. 
According to The Radicati Group, the total number of business and consumer emails sent and received per day exceeded 293 billion in 2019 and is forecast to grow to over 347 billion by year-end 2023. Worldwide email users are expected to reach 4.3 billion by that time. In addition, Litmus reports that email drives an ROI of $36 for every dollar spent, higher than any other channel.

However, personalization is now vital for successful email marketing. People have to opt-in for email marketing and are very conscious about their privacy. Therefore, they don’t take kindly to generic, irrelevant emails. They receive many emails each day – indeed, DMR reports show that the average office worker receives 121 emails daily – so it takes something special to entice somebody to open your emails. Personalizing your marketing emails helps you to improve their effectiveness. Some businesses are now using AI to create custom and tailored emails for specific clients.
We have been covering the rise of TikTok since the days when Musical.ly still existed as a stand-alone platform. However, it has sometimes been difficult to convince brands that it is a serious social media platform. We regularly update our TikTok Statistics article and have noticed how rapidly TikTok has grown in popularity. 
If you still doubt TikTok’s worthiness for serious digital marketing, consider some of these figures:

Like Facebook (and Instagram), TikTok now has a formal advertising marketplace, making it easy for brands to advertise on the platform.
And yes, TikTok is still most popular with the younger generations, with 32.5% of its US users aged 10-19, but its audience is gradually aging. TikTok users don’t appear to be “growing out” of the platform any more than Facebook users have grown out of that app.
Amazon continues to reign supreme as eCommerce’s leader. Although visitors to Amazon.com fell to 2.2 billion in February 2022, this really just reflected fewer Covid-related lockdowns around the world, increasing shoppers’ choices. 
However, Amazon is not loyal to any brand other than its own. Virtually anybody can sell on Amazon, giving many opportunities for brands wishing to market online. Amazon Advertising continues to grow and is essential to the company’s revenue. Amazon’s ad revenue was more than $31 billion in 2021, three times its 2018 ad revenue. Amazon continues to refine its ads platform to give more options and data to improve your Advertising Cost of Sales (ACoS).
If you’re not yet selling on Amazon, we have a Complete Guide to Amazon Advertising to help you get started on the platform and an A to Z Guide to Selling on Amazon.
Over 30.000 marketing professionals rely on us for their news. Shouldn’t you?
Subscribe to the world’s #1 influencer marketing newsletter, delivered bi-weekly on a Thursday.
There’s a misconception that you have to choose between email and SMS marketing…
The number of active email users is expected to reach 4.6 billion by 2025, proving that…
In today’s highly competitive business landscape, marketing is strenuous. The challenge…

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October 25, 2021 03:09 ET | Source: Fortune Business Insights Fortune Business Insights
Pune INDIA
Pune, India, Oct. 25, 2021 (GLOBE NEWSWIRE) — The global document management services market is likely to reach USD 57.56 billion by 2027 owing to rapid adoption of cloud-based technologies. Besides, the market will register a CAGR of 6.9% between 2020 and 2027 according to Fortune Business Insights, latest report, titled “Document Management Services Market Size, Share, Growth, Insights & COVID-19 IMPACT Analysis, By Services (Archiving and Storage, Imaging and Scanning, Printing, Mailroom Services and Others), By End-user (Medical, Financial, Government, Audit & Consulting, Corporate, Telecommunication, and Insurance & Re-insurance) and Regional Forecast, 2020-2027” 
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Request Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/document-management-services-market-102848
List of the Companies Operating in the Document Management Services Market:
Document Management Services Market Share Report Scope and segmentation:
Document management services are vital to organize all the important document and data in one place. In addition to this, these services efficiently keep a track on all the important documents, while speeding up the performance of an organization. Furthermore, it is accurate and provides access to the documents at any given time from any part of the globe. Today, there has been a paradigm shift towards digitalization that is propelling the companies to move beyond paper document and adopt electronic document management systems (EDMS). Moreover, the electronic system has automated the complete work process, thereby, saving time and effort.
Have Any Query? Speak To Analyst: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/document-management-services-market-102848
Regional Analysis:
Presence of Major Companies in North America to Bolster Growth
Geographically, the market comprises of several regions affecting the market growth during the forecast period. They are:
North America: The region held the largest share at USD 13.76 Billion in 2019 and is expected to dominate the market during the projected horizon. This is ascribable to factors such as presence of major companies such as Oracle Corporation and Access. Furthermore, rising adoption of the services by the end-user industries such as healthcare and BFSI is expected to propel North America to hold highest document management services market revenue between 2020 and 2027.
Asia-Pacific: The market in this region is likely to rise significantly during the forecast period. This is attributable to factors such as improved IT infrastructures in countries such as China, and India. Furthermore, advancement in business process services in Asia-Pacific will positively affect the market growth in the forthcoming years.
Europe: On the other hand, Europe is anticipated to register augmented growth owing to adoption of strategies such as collaboration by the companies to expand their business during the forecast period.
Drivers and Restraints:
Adoption of Technology Such as Cloud-Based amid COVIID-19 to Spur Demand
Technological advancement has led to emergence of efficient and reliable services such as cloud-based management. Additionally, cloud-based applications provide a seamless user experience and provides high-level flexibility to manage work for the organizations across the globe. The global pandemic, COVID-19 has gripped the whole world with widespread effects over several economies. Several governments around the world have called for lockdown to contain the disease and majority of people are working remotely. This has surged the demand for cloud-based services manifold in this testing times. Major companies are adopting the services that are robust and reliable to keep continuing the operational activities of their businesses. For instance, in May 2020, King & Wood Mallesons, a global international law firm, announced its adoption of iManage Cloud for its offices in Europe, Middle East, and United States. Darren Brown, IT Head of the company, said on the sidelines of the development, “Our firm is a strong believer of the future belonging to cloud, and are impressed with iManage cloud’s tremendous impact on our productivity, significant reduction in operational overheads, and its ability to access remotely.”
Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/customization/document-management-services-market-102848
What does the Report Include?
The Document Management Services Market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
Competitive Landscape:
Merger and Acquisition by the Companies to Stoke Demand
According to the report, there are several companies operating in the market striving to gain major market share and outshine their rivals in the competitive marketplace.  They are doing so by adopting strategies such as merger and acquisition, collaboration, and joint ventures, among others and maintain market stronghold in the forthcoming years. For instance, in April 2018, Exela Technologies Inc., a U.S.-based automation provider, announced its acquisition of the German-based document management company, Asterion International Group. This acquisition is expected to expand the company’s operation and product offering across Europe. Furthermore, it will enable access to Asterion’s consumers to Exela’s document management solutions.
Quick Buy – Document Management Services Market: https://www.fortunebusinessinsights.com/checkout-page/102848
Table Of Content:
TOC Continued…!
Have a Look at Related Research Insights:
Email Marketing Software Market Size, Share and Industry Analysis, By Channel (Business-to-Business (B2B) and Business-to-Customers (B2C)), Deployment (On-Premise and Cloud), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By Application (Email Lead Generation, Sales Reporting, Customer Management), By Industry (Banking, Finance, Security and Insurance (BFSI), IT and Telecommunications) and Regional Forecast, 2020-2027
Mobile Security Market Size, Share and Industry Analysis, By Component (Solutions and Services), By Operating System (iOS and MacOS, Android, Windows, and Others), By Vertical (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail, Education, Government, Others), and Regional Forecast, 2020-2027
Linux Operating System Market Size, Share & Covid-19 Impact Analysis, By Distribution (Virtual Machines, Servers and Desktops), By End-use (Commercial/Enterprise and Individual), and Regional Forecast, 2020-2027
Web Conferencing Market Size, Share & COVID-19 Impact Analysis, By Component (Solution and Services), By Deployment (Hosted Web Conferencing, On-Premises Web Conferencing, Managed Web Conferencing and Software-as-a-Service (SaaS)), By End-use (Education, Government, Healthcare, IT and Telecommunication, BFSI, Manufacturing, Media & Entertainment, and Others), and Regional Forecast, 2020-2027
Risk Analytics Market Size, Share and Covid-19 Impact Analysis, By Component (Software, Services), By Risk Type Application (Financial Risk, Operational Risk, Compliance Risk, Strategic Risks), By Deployment (Cloud, On-Premise), By Enterprise Size (Small and Medium-sized Enterprises (SMEs), Large Enterprises) By Industry (Banking, Financial Services and Insurance (BFSI), IT and Telecommunications, Healthcare) and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
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Press Release: https://www.fortunebusinessinsights.com/press-release/document-management-services-market-9977

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The Microsoft Threat Intelligence Center (MSTIC) has observed and taken actions to disrupt campaigns launched by SEABORGIUM, an actor Microsoft has tracked since 2017. SEABORGIUM is a threat actor that originates from Russia, with objectives and victimology that align closely with Russian state interests. Its campaigns involve persistent phishing and credential theft campaigns leading to intrusions and data theft. SEABORGIUM intrusions have also been linked to hack-and-leak campaigns, where stolen and leaked data is used to shape narratives in targeted countries. While we cannot rule out that supporting elements of the group may have current or prior affiliations with criminal or other nonstate ecosystems, MSTIC assesses that information collected during SEABORGIUM intrusions likely supports traditional espionage objectives and information operations as opposed to financial motivations.
This blog provides insights into SEABORGIUM’s activities and technical methods, with the goal of sharing context and raising awareness about a significant threat to Microsoft customers. MSTIC would like to acknowledge the Google Threat Analysis Group (TAG) and the Proofpoint Threat Research Team for their collaboration on tracking and disrupting this actor. Microsoft’s ability to detect and track SEABORGIUM’s abuse of Microsoft services, particularly OneDrive, has provided MSTIC sustained visibility into the actor’s activities and enabled us to notify impacted customers. As an outcome of these service abuse investigations, MSTIC partnered with abuse teams in Microsoft to disable accounts used by the actor for reconnaissance, phishing, and email collection. Microsoft Defender SmartScreen has also implemented detections against the phishing domains represented in SEABORGIUM’s activities.
SEABORGIUM is a highly persistent threat actor, frequently targeting the same organizations over long periods of time. Once successful, it slowly infiltrates targeted organizations’ social networks through constant impersonation, rapport building, and phishing to deepen their intrusion. SEABORGIUM has successfully compromised organizations and people of interest in consistent campaigns for several years, rarely changing methodologies or tactics. Based on known indicators of compromise and actor tactics, SEABORGIUM overlaps with the threat groups tracked as Callisto Group (F-Secure), TA446 (Proofpoint) and COLDRIVER (Google). Security Service of Ukraine (SSU) has associated Callisto with Gamaredon Group (tracked by Microsoft as ACTINIUM); however, MSTIC has not observed technical intrusion links to support the association. 
Since the beginning of 2022, Microsoft has observed SEABORGIUM campaigns targeting over 30 organizations, in addition to personal accounts of people of interest. SEABORGIUM primarily targets NATO countries, particularly the US and the UK, with occasional targeting of other countries in the Baltics, the Nordics, and Eastern Europe. Such targeting has included the government sector of Ukraine in the months leading up to the invasion by Russia, and organizations involved in supporting roles for the war in Ukraine. Despite some targeting of these organizations, Microsoft assesses that Ukraine is likely not a primary focus for this actor; however, it is most likely a reactive focus area for the actor and one of many diverse targets.
Within the target countries, SEABORGIUM primarily focuses operations on defense and intelligence consulting companies, non-governmental organizations (NGOs) and intergovernmental organizations (IGOs), think tanks, and higher education. SEABORGIUM has a high interest in targeting individuals as well, with 30% of Microsoft’s nation-state notifications related to SEABORGIUM activity being delivered to Microsoft consumer email accounts. SEABORGIUM has been observed targeting former intelligence officials, experts in Russian affairs, and Russian citizens abroad. As with any observed nation-state actor activity, Microsoft directly notifies customers of Microsoft services that have been targeted or compromised, providing them with the information they need to secure their accounts.
Over many years of tracking, Microsoft has observed a consistent methodology from SEABORGIUM with only slight deviations in their social engineering approaches and in how they deliver the initial malicious URL to their targets. In this section, we provide detailed analysis of SEABORBIUM’s operational tactics as well as several examples of their campaigns.
Before starting a campaign, SEABORGIUM often conducts reconnaissance of target individuals, with a focus on identifying legitimate contacts in the targets’ distant social network or sphere of influence. Based on some of the impersonation and targeting observed, we suspect that the threat actor uses social media platforms, personal directories, and general open-source intelligence (OSINT) to supplement their reconnaissance efforts. MSTIC, in partnership with LinkedIn, has observed fraudulent profiles attributed to SEABORGIUM being used sporadically for conducting reconnaissance of employees from specific organizations of interest. In accordance with their policies, LinkedIn terminated any account (including the one shown below) identified as conducting inauthentic or fraudulent behavior.
SEABORGIUM also registers new email accounts at various consumer email providers, with the email address or alias configured to match legitimate aliases or names of impersonated individuals. While the creation of new consumer accounts is common, we have also observed SEABORGIUM returning to and reusing historical accounts that match the industry of the ultimate target. In one case, we observed SEABORGIUM returning to an account it had not used in a year, indicating potential tracking and reusing of accounts if relevant to targets’ verticals.
After registering new accounts, SEABORGIUM proceeds to establish contact with their target. In cases of personal or consumer targeting, MSTIC has mostly observed the actor starting the conversation with a benign email message, typically exchanging pleasantries before referencing a non-existent attachment while highlighting a topic of interest to the target. It’s likely that this additional step helps the actor establish rapport and avoid suspicion, resulting in further interaction. If the target replies, SEABORGIUM proceeds to send a weaponized email.
MSTIC has also documented several cases where the actor focuses on a more organizational approach to phishing. In these cases, the actor uses an authoritative approach in their social engineering and typically goes to directly sending malicious content.
These examples serve to demonstrate the actors’ capability to be dynamic and to adapt their social engineering approach to gain the trust of their victims.
Microsoft has identified several variations in the way that SEABORGIUM delivers a link that directs targets to their credential stealing infrastructure. 
URL in body of email
In the simplest case, SEABORGIUM directly adds a URL to the body of their phishing email. Occasionally, the actor leverages URL shorteners and open redirects to obfuscate their URL from the target and inline protection platforms. The email varies between fake personal correspondence with a hyperlinked text and fake file sharing emails that imitate a range of platforms.
PDF file attachment that contains a URL
MSTIC has observed an increase in the use of attachments in SEABORGIUM campaigns. These attachments typically imitate a file or document hosting service, including OneDrive, and request the user to open the document by clicking a button.
OneDrive link to PDF file that contains a URL
SEABORGIUM also abuses OneDrive to host PDF files that contain a link to the malicious URL. This activity does not represent any security issues or vulnerabilities on the OneDrive platform. The actors include a OneDrive link in the body of the email that when clicked directs the user to a PDF file hosted within a SEABORGIUM-controlled OneDrive account. As seen in the previous example, the victim is presented with what appears to be a failed preview message, enticing the target to click the link to be directed to the credential-stealing infrastructure. Occasionally, SEABORGIUM makes use of open redirects within the PDF file to further disguise their operational infrastructure. In the example below, SEABORGIUM uses a Google URL for redirection.
Regardless of the method of delivery, when the target clicks the URL, the target is directed to an actor-controlled server hosting a phishing framework, most often EvilGinx. On occasion, Microsoft has observed attempts by the actor to evade automated browsing and detonation by fingerprinting browsing behavior. Once the target is redirected to the final page, the framework prompts the target for authentication, mirroring the sign-in page for a legitimate provider and intercepting any credentials. After credentials are captured, the target is redirected to a website or document to complete the interaction.  
SEABORGIUM has been observed to use stolen credentials and directly sign in to victim email accounts. Based on our experience responding to intrusions from this actor on behalf of our customers, we have confirmed that the following activities are common:
Based on the specific victimology, documents stolen, conversations fostered, and sustained collection observed, we assess that espionage is likely a key motivation of the actor.
In May 2021, MSTIC attributed an information operation to SEABORGIUM based on observations and technical overlaps with known phishing campaigns. The operation involved documents allegedly stolen from a political organization in the UK that were uploaded to a public PDF file-sharing site. The documents were later amplified on social media via known SEABORGIUM accounts, however MSTIC observed minimal engagement or further amplification. Microsoft was unable to validate the authenticity of the material.  
In late May 2022, Reuters along with Google TAG disclosed details about an information operation, specifically using hack and leak, that they attributed to COLDRIVER/SEABORGIUM. Microsoft independently linked SEABORGIUM to the campaign through technical indicators and agrees with the assessment by TAG on the actor responsible for the operation. In the said operation, the actors leaked emails/documents from 2018 to 2022, allegedly stolen from consumer Protonmail accounts belonging to high-level proponents of Brexit, to build a narrative that the participants were planning a coup. The narrative was amplified using social media and through specific politically themed media sources that garnered quite a bit of reach.
While we have only observed two cases of direct involvement, MSTIC is not able to rule out that SEABORGIUM’s intrusion operations have yielded data used through other information outlets. As with any information operation, Microsoft urges caution in distributing or amplifying direct narratives, and urges readers to be critical that the malicious actors could have intentionally inserted misinformation or disinformation to assist their narrative. With this in mind, Microsoft will not be releasing the specific domain or content to avoid amplification.  
The techniques used by the actor and described in the “Observed actor activity” section can be mitigated by adopting the security considerations provided below:
For Microsoft Defender for Office 365 Customers:
The below list provides IOCs observed during our investigation. We encourage our customers to investigate these indicators in their environments and implement detections and protections to identify past related activity and prevent future attacks against their systems.
NOTE: These indicators should not be considered exhaustive for this observed activity.
Intelligence gathered by the Microsoft Threat Intelligence Center (MSTIC) is used within Microsoft security products to provide protection against associated actor activity.
Microsoft Defender for Office offers enhanced solutions for blocking and identifying malicious emails. Signals from Microsoft Defender for Office inform Microsoft 365 Defender, which correlate cross-domain threat intelligence to deliver coordinated defense, when this threat has been detected. These alerts, however, can be triggered by unrelated threat activity. Example alerts:
Aside from the Microsoft Defender for Office 365 alerts above, customers can also monitor for the following Microsoft 365 Defender alerts for this attack. Note that these alerts can also be triggered by unrelated threat activity. Example alerts:
Microsoft 365 Defender customers should also investigate any “Stolen session cookie was used” alerts that would betriggered for adversary-in-the-middle (AiTM) attacks.
Microsoft Defender SmartScreen has implemented detections against the phishing domains represented in the IOC section above.
Microsoft Sentinel customers can run the following advanced hunting queries to locate IOCs and related malicious activity in their environments.
The query below identifies matches based on domain IOCs related to SEABORGIUM actor across a range of common Microsoft Sentinel data sets:
https://github.com/Azure/Azure-Sentinel/blob/master/Detections/MultipleDataSources/SEABORGIUMDomainsAugust2022.yaml
Microsoft 365 Defender customers can run the following advanced hunting queries to locate IOCs and related malicious activity in their environments.
This query identifies matches based on domain IOCs related to SEABORGIUM against Microsoft Defender for Endpoint device network connections
https://github.com/Azure/Azure-Sentinel/blob/master/Hunting%20Queries/Microsoft%20365%20Defender/Campaigns/SEABORGIUMDomainIOCsAug2022.yaml
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