|By Business Wire||
|February 12, 2013 01:30 AM EST||
Financial headlines Q4 2012
- Revenue down 19% year on year to €289 million
- Gross margin up 7 percentage points year on year to 53%
- One-off tax gain of €80 million; proceeds to be received in H1 2013
- EPS of €0.45 and adjusted EPS1 of €0.13 (Q4 2011: €0.05 and €0.16 respectively)
- Net cash flow from operating activities of €91 million
Financial headlines FY 2012
- Revenue down 17% year on year to €1,057 million
- Gross margin up 2 percentage points year on year to 52%
- OPEX down 12% year on year to €484 million2
- EPS of €0.58 and adjusted EPS of €0.40 (2011: €-1.97 and €0.55 respectively)
- Net debt of €86 million compared to €194 million at the end of 2011
Operational headlines Q4 2012
- HD Traffic 6.0 launched in US powered by 75 million probes
- New LBS portal launched for developers
- PND market share in Europe increased to 50%
- Partnership with LoJack Corporation to drive WEBFLEET sales in North American market
Outlook full year 2013
- Revenue in the range of €900 million to €950 million
- Adjusted EPS of around €0.20; €0.25 adjusted for the introduction of lifetime maps
|(in € millions)||FY '12||FY ‘11||y.o.y. change||Q4 '12||Q4 ‘11||y.o.y. change||Q3 ‘12||q.o.q. change|
|Net result attr. to the group||129||-438||99||12||22|
|EPS, € diluted||0.58||-1.97||0.45||0.05||0.10|
|Adjusted EPS, € diluted||0.40||0.55||-28%||0.13||0.16||-22%||0.14||-10%|
Change percentages are based on non-rounded figures
1 Earnings per share adjusted for impairment, acquisition-related amortisation and restructuring charges on a post-tax basis in 2011 and acquisition-related amortisation on a post-tax basis and the €80 million tax benefit in 2012.
2 Excluding €512 million impairment charge booked in Q2 2011.
TomTom’s Chief Executive Officer, Harold Goddijn
“We delivered financial results in the quarter modestly ahead of expectations with a high gross margin and strong cash flow.
“Early in 2012 we implemented a new product unit structure to increase development efficiency and reduce time to market by componentising our core map, navigation and traffic content and technologies. The year ahead will be a pivotal year as new products start to reach our customers. R&D investments will continue to shift to new technologies, away from legacy technologies, to increase returns.”
We expect the macro-economic situation to remain challenging. In this environment Consumer will focus on broadening its revenue base consistent with its brand while limiting the revenue decline from PNDs. We expect our core PND markets to decline by 15–20% in volume year over year. Automotive revenue development will largely depend on the new car sales and take rates of our current partners. For Licensing we expect revenue to be broadly stable. Business Solutions is expected to continue to grow strongly.
For the group we expect full year revenue of between €900 million and €950 million. We expect to deliver adjusted earnings per share of around €0.20. Adjusted for the negative impact of deferred revenue related to PND introductions with lifetime maps in the European market, this would be €0.25.
Business review Q4 2012
Consumer released an update to the Android app, making it available to a broader range of smartphones.
We launched our new cloud-based Location Based Services (LBS) Platform and Developer Portal. The platform provides developers with the content and tools to create location-enabled applications. These applications include map display, routing, traffic and geocoding.
We launched the latest version of our real-time traffic information service in the US. With over 75 million probes in the US alone, HD Traffic 6.0 is able to report the location and length of traffic jams on highways more accurately than the previous version. During the quarter we signed a partnership with Telenav to deliver TomTom HD Traffic to Telenav's mobile navigation customers.
Automotive is affected by tough conditions for its customers in the European car market. It is progressing well with the execution of its modular strategy. We aim to sell OEMs and their tier one suppliers, easy-to-integrate maps, traffic and navigation components that provide low development cost, fast time-to-market and the best end-user experience for their customers.
Business Solutions grew its WEBFLEET subscriber base in the quarter by 33% year on year to 239,000 (Q4 2011: 180,000). The customer base passed the 19,000 mark, the largest in the fleet management services industry. Our partnership with Tracker is developing well and sales in South Africa grew markedly. Just after quarter end, we entered into an alliance with LoJack Corporation. The US based stolen vehicle recovery specialist will add WEBFLEET to its product offering and sell it through its extensive dealership network.
|(€ millions)||Q4'12||Q4 '11||y.o.y. change||Q3 '12||q.o.q. change|
|Content & Services||98||107||-8%||105||-6%|
Change percentages are based on non-rounded figures
Revenue for the quarter was €289 million which is 19% lower compared to the same quarter last year (Q4 2011: €357 million) and 6% higher compared to the previous quarter (Q3 2012: €274 million). The year on year decrease is mainly driven by lower Consumer and Automotive sales.
Consumer revenue for Q4 decreased year on year by 23% from €242 million in Q4 2011 to €187 million in Q4 2012. The year-on-year decrease is mainly the result of PND demand continuing to be less skewed towards the fourth quarter. PND sales in EMEA were relatively strong and we saw revenue from the SportWatch nearly double year on year albeit from a small base. Sequentially, Consumer revenue increased by €15 million or 9%, mainly due to our higher market share in Europe and seasonality in PND demand in the US.
The PND market size in Europe was 2.5 million units compared to 3.2 million units in the same quarter of last year. TomTom’s European market share increased from 47% in Q4 2011 to 50% in Q4 2012. The North American market size was 2.5 million units compared to 3.7 million units last year. Our market share in North America was 19% compared to 27% in the prior year.
Automotive revenue for Q4 2012 was €44 million, which is a decrease of 21% compared to €56 million in Q4 2011 and 10% sequentially (Q3 2012: €49 million). The year on year decline reflects the tough conditions in the European automotive industry which continue to constrain new car sales.
Licensing generated revenue of €37 million in this quarter, a decline of 7% compared to the €40 million in Q4 2011, mainly due to lower revenue coming from third party PND vendors. Sequentially, revenue increased by €4.0 million or 12% (Q3 2012: €33 million) as a result of higher revenue from smartphone and internet customers.
Revenue for Business Solutions in the quarter was €20 million, representing an 8% increase year on year (Q4 2011: €19 million) and a 6% increase sequentially (Q3 2012: €19 million). The year on year increase is the result of the growth in WEBFLEET subscription revenue. The partner model for geo-expansion is increasing the relative contribution of WEBFLEET revenue in the mix.
Hardware revenue development reflected the decline in Consumer PND and Automotive hardware sales. Hardware revenue in the quarter decreased by 24% year on year to €191 million (Q4 2011: €250 million). Sequentially, Hardware revenue increased by 13% (Q3 2012: €169 million).
Revenue from Content & Services for the quarter was €98 million, an 8% decrease year on year (Q4 2011: €107 million) and a 6% decrease sequentially (Q3 2012: €105 million). Content & Services revenue accounted for 34% of revenue for the quarter (Q4 2011: 30%; Q3 2012: 38%).
The gross margin for the quarter was 53% compared with 46% in Q4 2011 and 55% in Q3 2012. The year on year increase is mainly due to the accelerated write-off of pre-paid third party service costs in Q4 2011 and one-off provision releases in the current quarter. Excluding the releases the gross margin for the current quarter was 51%. Foreign exchange currency movements did not have a meaningful impact on the gross margin compared to last year and prior quarter. The normalised gross margin in Q4 2011 was 48%.
The restructuring program initiated in Q4 2011 has made a visible impact on the lowering of our cost base in 2012. Total operating expenses for the quarter were €130 million compared to €156 million in Q4 2011, representing a 17% decrease year on year. €14 million out of the €26 million decrease is explained by the restructuring costs recognised in Q4 2011. Sequentially, operating expenses increased by €11 million or 9.5%.
The year on year reduction in operating expenses in the quarter was mainly visible in the areas of Marketing (-31%) and SG&A (-23%). In R&D we continue to invest in our innovation projects which resulted in a modest decrease of 3.2% for the quarter compared to Q4 2011. The amortisation of technology and databases decreased by 19% year on year as the result of the accelerated amortisation of certain technologies in Q4 2011.
The sequential increase in operating expenses is mainly due to the timing of R&D projects, which led to higher R&D expenses, and an increase in the SG&A expenses mainly as a result of higher property and personnel expenses.
The net interest charge for the quarter was €2.4 million compared with €3.8 million in Q4 2011 and €3.2 million in Q3 2012. Interest paid for the quarter was €3.5 million. The amortisation of transaction costs related to the term loan and revolving credit facility amounted to €0.8 million.
The other financial result for the quarter was a loss of €0.3 million compared with a gain of €0.7 million in Q4 2011.The loss was mainly driven by our hedge results.
In the quarter we had a normalised income tax charge of €2.6 million, representing an effective tax rate of 11.7%. Due to an €80 million one-off tax gain as a result of a settlement of prior year tax issues with the Dutch tax authority, the total tax result was a gain of €77 million (Q4 2011: gain of €4.6 million). The normalised tax rate in Q4 2011, excluding a €5.9 million one-off tax gain as well as the tax effect of the restructuring charges was 20.7%.
The cash inflow from operations for the quarter was €98 million compared with €138 million in the same quarter last year. The year on year reduction is mainly because the cash inflow from reduced working capital was lower in the quarter than in the corresponding quarter of last year.
The cash flow used in investing activities during the quarter was €15 million, an increase of €3.3 million compared to €11 million in Q4 2011.
Cash flows used in financing activities amounted to €48 million mainly reflecting the net effect of repayments made during the quarter net of the proceeds from our new term loan.
On 31 December 2012 we made the final repayment on the outstanding amount of the loan we entered into in 2008 and we drew down on the new €250 million term loan.
This new term loan is part of the forward-start facility arrangement we signed in April 2011. It additionally includes a €150 million revolving credit facility, which remained unutilised on 31 December 2012. Netted with the transaction costs, the carrying amount of this €250 million loan at year end was €247 million.
Our net debt position on 31 December 2012 was €86 million, down from €194 million at the end of 2011. Our leverage ratio was reduced from 0.9 at the end of 2011 to 0.5 at the end of 2012.
As at 31 December 2012, accounts receivable plus other receivables were €268 million compared with €236 million at 31 December 2011. The increase is mainly attributed to the income tax receivable balance partly offset by a decrease in the trade receivables balance. The inventory level was reduced to €44 million from €66 million at the end of last year and €59 million at the end of previous quarter. Cash and cash equivalents at the end of the quarter were €164 million compared to €194 million at the end of the prior year.
Current liabilities were €475 million compared to €845 million in the same quarter last year. The year on year decrease is mainly due to the full repayment of our previous borrowings partly offset by the current portion of our new term loan.
At the end of the quarter we had shareholders’ equity of €838 million up from €742 million at the beginning of the quarter.
- END -
Consolidated income statements
|(in € thousands)||Q4 ‘12||Q4 ‘11||FY ‘12||FY ‘11|
|Cost of sales||134,678||191,426||502,398||633,545|
|Research and development expenses||45,257||46,745||166,315||172,822|
|Amortisation of technology & databases||21,777||27,007||84,011||84,619|
|Selling, general and administrative expenses||46,698||60,511||169,716||208,917|
|Stock compensation expense||1,723||789||7,140||7,985|
|Total operating expenses||129,693||155,559||484,487||1,064,341|
|Other finance result||-290||714||1,642||6,093|
|Result before tax||22,112||7,210||60,533||-440,870|
|Net result attributed to the group||99,112||11,887||128,724||-437,844|
|Basic number of shares (in thousands)||221,895||221,895||221,895||221,874|
|Diluted number of shares (in thousands)||222,316||221,939||222,024||221,874¹|
|EPS, € basic||0.45||0.05||0.58||-1.97|
|EPS, € diluted||0.45||0.05||0.58||-1.97|
¹ In 2011, 29,686 potential diluted shares were not taken into account as the effect would be anti-dilutive.
Consolidated balance sheet
|(in € thousands)||31 December 2012||31 December 2011|
|Other intangible assets||821,233||871,528|
|Property, plant and equipment||26,770||32,555|
|Deferred tax assets||13,610||10,493|
|Investments in associates||3,880||4,450|
|Total non-current assets||1,247,062||1,300,595|
|Other receivables and prepayments||118,262||51,242|
|Other financial assets||444||2,784|
|Cash and cash equivalents||164,459||193,579|
|Total current assets||477,382||498,046|
|Equity attributable to equity of the parent||835,775||706,000|
|Deferred tax liability||170,909||182,273|
|Other long term liabilities||18,130||12,720|
|Total non-current liabilities||410,744||245,107|
|Tax and social security||33,263||20,942|
|Other liabilities and accruals||250,963||272,502|
|Total current liabilities||475,283||845,083|
|Total equity and liabilities||1,724,444||1,798,641|
¹ The 2011 borrowings were fully due in 2012 and hence the full amount has been presented under current liabilities.
Consolidated statements of cash flows
|(in € thousands)||Q4 ‘12||Q4 ‘11||FY ‘12||FY ‘11|
|Depreciation and amortisation||28,528||36,999||110,670||119,097|
|Change in provisions||-928||-6,645||-9,428||-10,224|
|Equity-settled stock compensation expenses||1,210||1,067||5,700||7,996|
|Changes in working capital:|
|Change in inventories||12,861||9,683||13,819||27,915|
|Change in receivables and prepayments||33,058||31,185||47,660||113,384|
|Change in current liabilities (excl. provisions)1||3,249||47,253||-51,210||-154,770|
|Cash flow from operations||98,391||137,744||186,676||195,219|
|Corporate income taxes paid||-4,244||-1,119||-11,025||-5,456|
|Net cash flow from operating activities||90,895||134,163||166,940||174,175|
|Investments in intangible assets||-11,075||-9,512||-42,990||-57,918|
|Investments in property, plant and equipment||-3,519||-3,370||-9,311||-16,502|
|Total cash flow used in investing activities||-14,554||-11,254||-50,814||-72,792|
|Repayments of borrowings||-290,000||-110,000||-388,000||-210,000|
|Proceeds of new term loan||247,140||0||247,140||0|
|Redemption of vested equity instruments||-4,605||0||-4,605||0|
|Acquisition of non-controlling interests||0||-4,004||0||-4,243|
|Proceeds on issue of ordinary shares||0||0||0||724|
|Total cash flow from financing activities||-47,782||-114,004||-145,782||-213,519|
|Net increase in cash and cash equivalents||28,559||8,905||-29,656||-112,136|
|Cash and cash equivalents at beginning of period||136,528||182,313||193,579||305,600|
|Exchange rate effect on cash balances held in foreign currencies||-628||2,361||536||115|
|Cash and cash equivalents at end of period||164,459||193,579||164,459||193,579|
¹ Includes movements in non-current portion of deferred revenue presented under other long term liabilities.
Basis of accounting
The condensed consolidated financial information for the three-month and twelve-month periods ended 31 December 2012 with related comparative information have been prepared using accounting policies which are based on International Financial Reporting Standards (IFRS). Accounting policies and methods of computation followed in the condensed consolidated financial information, for the period ended 31 December 2012, are the same as those followed in the Financial Statements for the year ended 31 December 2012. Further disclosures as required under IFRS for a complete set of consolidated financial statements are not included in the condensed consolidated financial information. The consolidated and company financial statements of TomTom NV for the year ended 31 December 2012 have been prepared and audited but are not yet published. The quarterly condensed consolidated information in this press release is unaudited.
Audio webcast fourth quarter and full year 2012 results
The information for our fourth quarter results audio webcast is as follows:
12 February at 14.00 CET
TomTom is listed at NYSE Euronext Amsterdam in the Netherlands
ISIN: NL0000387058 / Symbol: TOM2
Founded in 1991, TomTom is a leading provider of navigation and location-based products and services.
TomTom maps, traffic information and navigation technology power automotive in-dash systems, mobile devices, web based applications and government and business solutions.
TomTom also designs and manufactures its own location-based products including portable navigation devices and fleet management solutions, as well as GPS-enabled sports watches.
Headquartered in Amsterdam, TomTom has 3,500 employees worldwide and sells its products in over 40 countries.
For further information, please visit www.tomtom.com
This document contains certain forward-looking statements relating to the business, financial performance and results of the Company and the industry in which it operates. These statements are based on the Company’s current plans, estimates and projections, as well as its expectations of external conditions and events. In particular the words “expect”, “anticipate”, “estimate”, “may”, “should”, “believe” and similar expressions are intended to identify forward-looking statements. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those suggested in the forward-looking statements. These include, but are not limited to: the level of consumer acceptance of existing and new and upgraded products and services; the growth of overall market demand for the Company’s products or for personal navigation products generally; the Company’s ability to sustain and effectively manage its recent rapid growth and its relations with third party suppliers, and its ability to accurately forecast the volume and timing of sales. Additional presently unknown factors could also cause future results to differ materially from those in the forward-looking statements.
As more and more data is generated from a variety of connected devices, the need to get insights from this data and predict future behavior and trends is increasingly essential for businesses. Real-time stream processing is needed in a variety of different industries such as Manufacturing, Oil and Gas, Automobile, Finance, Online Retail, Smart Grids, and Healthcare. Azure Stream Analytics is a fully managed distributed stream computation service that provides low latency, scalable processing of ...
Aug. 27, 2015 03:45 PM EDT
Any Ops team trying to support a company in today’s cloud-connected world knows that a new way of thinking is required – one just as dramatic than the shift from Ops to DevOps. The diversity of modern operations requires teams to focus their impact on breadth vs. depth. In his session at DevOps Summit, Adam Serediuk, Director of Operations at xMatters, Inc., will discuss the strategic requirements of evolving from Ops to DevOps, and why modern Operations has begun leveraging the “NoOps” approa...
Aug. 27, 2015 02:30 PM EDT Reads: 299
In today's digital world, change is the one constant. Disruptive innovations like cloud, mobility, social media, and the Internet of Things have reshaped the market and set new standards in customer expectations. To remain competitive, businesses must tap the potential of emerging technologies and markets through the rapid release of new products and services. However, the rigid and siloed structures of traditional IT platforms and processes are slowing them down – resulting in lengthy delivery ...
Aug. 27, 2015 02:15 PM EDT Reads: 504
In their Live Hack” presentation at 17th Cloud Expo, Stephen Coty and Paul Fletcher, Chief Security Evangelists at Alert Logic, will provide the audience with a chance to see a live demonstration of the common tools cyber attackers use to attack cloud and traditional IT systems. This “Live Hack” uses open source attack tools that are free and available for download by anybody. Attendees will learn where to find and how to operate these tools for the purpose of testing their own IT infrastructu...
Aug. 27, 2015 02:00 PM EDT Reads: 290
SYS-CON Events announced today that IceWarp will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. IceWarp, the leader of cloud and on-premise messaging, delivers secured email, chat, documents, conferencing and collaboration to today's mobile workforce, all in one unified interface
Aug. 27, 2015 02:00 PM EDT Reads: 322
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome,” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Aug. 27, 2015 01:00 PM EDT Reads: 283
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
Aug. 27, 2015 11:30 AM EDT Reads: 385
The Internet of Things (IoT) is about the digitization of physical assets including sensors, devices, machines, gateways, and the network. It creates possibilities for significant value creation and new revenue generating business models via data democratization and ubiquitous analytics across IoT networks. The explosion of data in all forms in IoT requires a more robust and broader lens in order to enable smarter timely actions and better outcomes. Business operations become the key driver of I...
Aug. 27, 2015 10:45 AM EDT Reads: 309
SYS-CON Events announced today that DataClear Inc. will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The DataClear ‘BlackBox’ is the only solution that moves your PC, browsing and data out of the United States and away from prying (and spying) eyes. Its solution automatically builds you a clean, on-demand, virus free, new virtual cloud based PC outside of the United States, and wipes it clean...
Aug. 27, 2015 10:30 AM EDT Reads: 302
SYS-CON Events announced today that Micron Technology, Inc., a global leader in advanced semiconductor systems, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Micron’s broad portfolio of high-performance memory technologies – including DRAM, NAND and NOR Flash – is the basis for solid state drives, modules, multichip packages and other system solutions. Backed by more than 35 years of tech...
Aug. 27, 2015 10:00 AM EDT Reads: 120
Culture is the most important ingredient of DevOps. The challenge for most organizations is defining and communicating a vision of beneficial DevOps culture for their organizations, and then facilitating the changes needed to achieve that. Often this comes down to an ability to provide true leadership. As a CIO, are your direct reports IT managers or are they IT leaders? The hard truth is that many IT managers have risen through the ranks based on their technical skills, not their leadership ab...
Aug. 27, 2015 07:00 AM EDT Reads: 187
Through WebRTC, audio and video communications are being embedded more easily than ever into applications, helping carriers, enterprises and independent software vendors deliver greater functionality to their end users. With today’s business world increasingly focused on outcomes, users’ growing calls for ease of use, and businesses craving smarter, tighter integration, what’s the next step in delivering a richer, more immersive experience? That richer, more fully integrated experience comes ab...
Aug. 27, 2015 06:15 AM EDT Reads: 500
IBM’s Blue Box Cloud, powered by OpenStack, is now available in any of IBM’s globally integrated cloud data centers running SoftLayer infrastructure. Less than 90 days after its acquisition of Blue Box, IBM has integrated its Blue Box Cloud Dedicated private-cloud-as-a-service into its broader portfolio of OpenStack® based solutions. The announcement, made today at the OpenStack Silicon Valley event, further highlights IBM’s continued support to deliver OpenStack solutions across all cloud depl...
Aug. 27, 2015 05:00 AM EDT Reads: 123
Red Hat is investing in Tesora, the number one contributor to OpenStack Trove Database as a Service (DBaaS) also ranked among the top 20 companies contributing to OpenStack overall. Tesora, the company bringing OpenStack Trove Database as a Service (DBaaS) to the enterprise, has announced that Red Hat and others have invested in the company as a part of Tesora's latest funding round. The funding agreement expands on the ongoing collaboration between Tesora and Red Hat, which dates back to Febr...
Aug. 27, 2015 04:00 AM EDT Reads: 248
Organizations from small to large are increasingly adopting cloud solutions to deliver essential business services at a much lower cost. According to cyber security experts, the frequency and severity of cyber-attacks are on the rise, causing alarm to businesses and customers across a variety of industries. To defend against exploits like these, a company must adopt a comprehensive security defense strategy that is designed for their business. In 2015, organizations such as United Airlines, Sony...
Aug. 27, 2015 04:00 AM EDT Reads: 361
U.S. companies are desperately trying to recruit and hire skilled software engineers and developers, but there is simply not enough quality talent to go around. Tiempo Development is a nearshore software development company. Our headquarters are in AZ, but we are a pioneer and leader in outsourcing to Mexico, based on our three software development centers there. We have a proven process and we are experts at providing our customers with powerful solutions. We transform ideas into reality.
Aug. 27, 2015 03:45 AM EDT Reads: 407
With the proliferation of connected devices underpinning new Internet of Things systems, Brandon Schulz, Director of Luxoft IoT – Retail, will be looking at the transformation of the retail customer experience in brick and mortar stores in his session at @ThingsExpo. Questions he will address include: Will beacons drop to the wayside like QR codes, or be a proximity-based profit driver? How will the customer experience change in stores of all types when everything can be instrumented and a...
Aug. 26, 2015 10:00 AM EDT Reads: 368
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies leverage disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advance...
Aug. 26, 2015 08:00 AM EDT Reads: 152
Akana has announced the availability of the new Akana Healthcare Solution. The API-driven solution helps healthcare organizations accelerate their transition to being secure, digitally interoperable businesses. It leverages the Health Level Seven International Fast Healthcare Interoperability Resources (HL7 FHIR) standard to enable broader business use of medical data. Akana developed the Healthcare Solution in response to healthcare businesses that want to increase electronic, multi-device acce...
Aug. 26, 2015 07:00 AM EDT
SmartBear Software has updated its API tools, ServiceV for API service virtualization and LoadUI NG for API load testing, to accelerate development and testing processes in Agile teams. Updates to ServiceV enable software teams to rapidly build advanced mocks from real-time API traffic and quickly switch between virtualized “mock” services and actual APIs during diagnostic, load or integration testing in the continuous delivery lifecycle.
Aug. 21, 2015 11:00 AM EDT Reads: 291