AI-powered pet robot Kiki will drive away your blues

Indiatimes | January 11, 2019

Like every year, the CES 2019 too witnessed a number of interesting innovations one of them being an AI-powered robot called Kiki. Kiki looks like Eva from the movie Wall-E and has cat ears. The robot is powered by artificial intelligence, which basically means it learns human behavior over time to respond to situations.
According to Cnet, Kiki is a companionship robot. It features a camera in its nose to help identify the environment and remember people. Once it locks on a face, it can track the person by moving its head, much like a real pet would.

Spotlight

There are a myriad of insurance products on the market. However, despite certain insurers attempts to create new products, the payment and performance bonds traditionally used in the construction industry have not been supplanted or replaced and remain in common use. For almost every construction project an owner will maintain insurance to protected themselves. This white paper reviews builders risk insurance, design liability and issues dealing with excess coverage.

Spotlight

There are a myriad of insurance products on the market. However, despite certain insurers attempts to create new products, the payment and performance bonds traditionally used in the construction industry have not been supplanted or replaced and remain in common use. For almost every construction project an owner will maintain insurance to protected themselves. This white paper reviews builders risk insurance, design liability and issues dealing with excess coverage.

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CONSTRUCTION

Newmark Arranges Acquisition and Construction Loan for 111 Wall Street on Behalf of Nightingale Properties and Wafra Capital Partners

Newmark | June 15, 2021

On behalf of Nightingale Properties and Wafra Capital Partners, Newmark announces the completion of a purchase and construction financing for 111 Wall Street in New York. The frequent institutional joint venture partners will reposition and redevelop 111 Wall Street into a one-of-a-kind Class A office location in the heart of Downtown Manhattan with a debt package surpassing $500 million. The Newmark team secured the debt, led by Dustin Stolly and Jordan Roeschlaub, Vice-Chairmen and Co-Heads of the New York Debt & Structured Finance team. Nightingale was represented by David Blaivas of Blaivas & Associates, P.C., while WCP was represented by Michael Lefkowitz of Rosenberg & Estis, P.C. 111 Wall Street offers a solid and unrivaled waterfront site with panoramic and perpetually protected views of the Manhattan and Brooklyn skylines, New York Harbor. The East River, situated on a complete city block between Wall Street and Gouverneur Lane. 111 Wall Street is close to Wall Street Pier 11 (which is served by the NYC Ferry, NY Waterway, NY Water Taxi, SeaStreak, and New York Beach Ferry), as well as the 1, 2, 3, 4, 5, A, C, E, J, R, W, and Z subway lines and the Wall Street Helipad. With cutting-edge and highly configurable office space designed by Studios Architecture, the landmark 25-story property, covering nearly 1.2 million square feet, will redefine the Downtown Manhattan workplace. The URBN Playground-designed tenant amenities will be wholly incorporated into the 111 Wall app and accessible via renters' cellphones. Nightingale and WCP will outfit the entire building with the latest in touchless and smart-building technologies, catering to the future workplace and servicing employees in a post-COVID environment. In addition, the joint venture partners will develop a white-glove, tenant-only amenity program spanning more than 40,000 square feet in the basement andground floor.A 125-seat conference center, multi-purpose room, event space, a bike and scooter charging area, upmarket food and beverage choices for tenants, a café and barista bar, and 111 WELL fitness center will be among the tenant facilities. Once completed, 111 Wall Street will match the needs and appeal to select tenants, catering to the nation's most sought-after talent pool, with its boutique, premium hospitality feel, and first-class service. Nightingale and WCP will construct a new curtain wall, floor-to-ceiling View Smart Glass windows, a significantly expanded and altered office lobby, and new destination dispatch elevators. The property will include state-of-the-art MEP systems, VRF HVAC systems with no perimeter convector coverings, and fully redundant power systems as part of a major infrastructure overhaul. 111 Wall Street will be LEED Silver certified and Wiredscore Certified, and tenants will have access to various signage and branding options. 111 Wall Street offers prospective residents distinctive "structure" experiences, with three different elevator banks seamlessly connected to three unique entrances. Nightingale and WCP's experience, collective capitalization, frequent cooperation, and portfolio breadth enable the coupling of best-in-class sponsorship and business plan execution. In addition, the partnership has a proven track record of success, and it now has joint interests in multiple properties and development projects totaling more than five million square feet. About Newmark Newmark Group, Inc. and its subsidiaries are a global leader in commercial real estate services, offering a full range of investor/owner and occupier services and solutions. Our integrated platform drives every aspect of owning or occupying the property. Our services are tailored to each customer type, from owners to occupiers, investors to founders, developing startups to leading corporations. We bring ingenuity to every trade and inspiration to every environment by harnessing the power of data, technology, and industry expertise. Our 18,800 employees work from around 500 offices worldwide in collaboration with our London-based partner Knight Frank and independently-owned offices.

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ROBOTICS AND AUTOMATION

Allied Motion Acquires Spectrum Controls, Inc., a Leader in Industrial Control Solutions

Allied Motion Technologies Inc. | January 03, 2022

Allied Motion Technologies Inc. (Nasdaq: AMOT) (“Allied Motion” or the “Company”), a designer and manufacturer of precision and specialty controlled motion products and solutions for the global market, announced that it has acquired Spectrum Controls, Inc. (“Spectrum”), an innovator and manufacturer of a wide variety of Industrial I/O and Universal Communications Gateway products. The purchase price was $70 million, of which $45 million was paid at closing with a combination of $27 million in cash and the remainder in the Company’s common stock at a price of $35.82 per share. The remaining $25 million will be paid in two equal payments in 2022 and 2023 comprised of 50% cash and 50% stock. Spectrum has a long history of innovation, partnership, and customized customer fulfillment, and we are excited to welcome the entire Spectrum team to the Allied family. This acquisition is an excellent strategic fit and provides us with a tremendous opportunity to enhance our position as a value-added solutions supplier to the industrial automation and industrial controls market,” commented Dick Warzala, Chairman and CEO. “In addition, Spectrum enhances our customer base, adds significant engineering resources and has the technology and know-how to provide solutions that meet the system requirements of Functional Safety. “Allied has built an impressive organization. We believe that given their strong leadership team and their One Allied culture, we have found the ideal partner to successfully execute on the many strategic initiatives and opportunities we have in front of us. We look forward to a bright future together.” -Bruce Wanta, Founder and President of Spectrum Mr. Warzala further added, We believe we can drive growth by leveraging Spectrum’s strong partner relationships with large industrial automation companies, utilizing their global distribution channels, and benefiting from the continued digital transformation around IIoT, AI and analytics that are driving the increased use of smart factory floor devices. In 2022, Spectrum is expected to be accretive to both Allied’s earnings per share and gross margin profile. The acquisition structure includes a tax election that is expected to offset cash taxes by approximately $10 million over the next 15 years. Founded in 1983 and headquartered in Bellevue, WA, Spectrum designs and manufactures a wide range of highly sophisticated I/O modules, marquee displays, and industrial gateways for broad industrial controls applications through partnerships with PLC manufacturers and distributors. With approximately 72 employees, Spectrum serves large industrial automation projects and specialty applications domestically and throughout the world, including Europe, Asia, the Americas, and the Middle East. For more information visit https://www.spectrumcontrols.com. About Allied Motion Technologies Inc. Allied Motion (Nasdaq: AMOT) designs, manufactures and sells precision and specialty controlled motion products and solutions used in a broad range of industries within our major served markets, which include Vehicle, Medical, Aerospace & Defense, and Industrial. Headquartered in Amherst, NY, the Company has global operations and sells into markets across the United States, Canada, South America, Europe, and Asia-Pacific. Allied Motion is focused on controlled motion applications and is known worldwide for its expertise in electro-magnetic, mechanical, and electronic motion technology. Its products include brush and brushless DC motors, brushless servo and torque motors, coreless DC motors, integrated brushless motor-drives, gear motors, gearing, modular digital servo drives, motion controllers, incremental and absolute optical encoders, active (electronic) and passive (magnetic) filters for power quality and harmonic issues, and other controlled motion-related products. The Company’s growth strategy is focused on being the controlled motion solutions leader in its selected target markets by leveraging its “technology/know how” to develop integrated precision solutions that utilize multiple Allied Motion technologies to “change the game” and create higher value solutions for its customers. The Company routinely posts news and other important information on its website at www.alliedmotion.com.

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Cloud-based platforms provide clear tracking of workers onsite to help during pandemic

Constructconnect | September 08, 2020

The coronavirus pandemic has taken a bite out of the construction industry, hampering and, in some cases, halting projects, but Quebec-based construction company EBC is proving a Cloud-based digital platform can help minimize the impact on day-to-day operations. “We’ve been ahead of the pack and COVID-19 has had less impact on our business due to our early adoption of Cloud technologies such as BIM 360 and its numerous versatile tools and modules,” Philippe De Guise, manager with BIM Corporate Services at EBC, told a webinar on how to improve construction workflows through digitized platforms hosted by Buildings Canada. As an example, De Guise said health check stations on one of its construction sites were saved in BIM 360, helping keep track of everyone onsite. “Down the line if we are audited, we have a clear track of whoever was on the jobsite and when they were there.” Prior to the pandemic, EBC set up a virtual design environment, allowing management and employees to use Cloud-based technology to improve communication and production.

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