Acre Security Unifies Brands (CEO Interview)

Executive *******

************, **** ******** *********** ** * "federation ** **********," ** ****'* *** acknowledged ** **, ***** *** ********** ran ********* ************* **** ******** *** optimization **** ****'* **********.

***, **** ******** ** ********* * brand ***********, **** *** **** ***** the "***********" ** *** ******** *******. All ***** ********* ** *** ********* companies **** ***** ** "************.***" ****** the *** ** ***, *** *** portfolio ******** (** ** ****) **** already **** ************ ***** ******* ******** *******.

*** ********* ***** *****, ********* *******, will "**** **** *** **********," **** Don ****, ****'* ***,*** ****** *** ******* ** ****** ago******** ****** *******, *** ******, *******. *** ******** **** ** *********** under *** ** ****'* **** ******* - ****** *******, ******* **********, ********* detection, *** *********** **************.

*** ******* ********** **** ***** **** be ** "***-**-****" ** ****'* ******** portfolio ********. ******** ********* **** ******** to ******* ******* *** *** ****** under ******** *********, *** ***** **** be * ***** ******* ****, *** the ******* **** ********* ********* ** do **.

Risks *** ****

** *** *** *********** ***** *** Acre: ******** ***** ****** *** ********** brands *** ********* ** * ****** operational *******. **** ******** *** ********* may **** *** ********** ********** ******, though **** ** ****'* ********** ****** are ************ ******, ** ****'* **********. The ****** ******* ** *** ** how **** ******** *** ***** ****-*********** companies ** * ******** **********, ***** is ****** ***********, ********** ***** **** are ********* **** *** ******** *********. How ********** **** *** ** ***** so **** ** ******* ** **** execute **** *** **** *** *****.

"Call ** **** ** **"

**** **** **** **** *** ***** consolidation ** ****** ******* *** ******* lines ** ***** *********:

** ****** **** **** ******* **********. A ***** ******* ********* *** ** was ****** ***** ******* ** ******. Call ** **** ** **. **'* easy ** ********, *** ********** **** to **** ** ****** **** * demand ***********.

**'** ****** ******** ** **** ********, from * ********* ***********, ****** ******** on *****, *** *** *** *** historical ***** **** **** **** ******** over *** *****.

***** **** ******** [**] ****** ***** on *** **** **** ***** ** the ********, ******* ****'* *ccess *******, *********, ******* **********, *** **** *** *********** **************. [Emphasis added]

*** ********** ******** ***** ** ****** for ******** *** ********* ** ** business **** ****, **** ****:

*** ** **** * *** ** guiding **********, *** **** ** ****** some *** ******** **** ****. *** that's ****** ****** ** ****** ** do ******** **** **** ********. * believe ** ***** * **** ******* narrative ** *** *********** *** *** users ** **** ** *** *** channel.

Portfolio ***** **** **** **** *** **********, ********* *******

*** **** ********* ***** ***** **** fade **** *** **********, *** *** only "****" **** ** "**** ********" itself, **** *********:

*** ******* **** ** ***** ** gradually **** **** *** **********. ***** forward [** **** **] **** ******** access ******* ********.

**'* ******* ******* **** ** **** our *** *******, *** ** ** getting *** ****** ********* **** * simplified, ****** **********.

**** ****** **** ****** ******* *** consolidated *** ** *** ****** ******* code ***** ***** *******', **** ********** that ** ** ** "************" ** all ******* *****, ** ** **** only ** ** *** **** "**** Security ****** *******":

***** **'** ***** *** ******* ****** code ******** ** *** ****, **'* an ************ ** *** *** ***** things **** *** ***** ********* *******. All ** ***** ***** **** ***** to **** **** *** **********. ** end ** ****, ** *** ** sale, *** *** ***** ***** ********** [will] ***** ** **** **** *** background *** ** **** ******* **** about *** **** ******** ****** *******.

*** ********* ******* ****** ****'* "*********** infrastructure" ******** ***** ********, *** ********** ********** ** ******** in ****. ***** ****'**** ****** ********* **** **** ******* in ******** **** **** ******* *** ******* management ********* ********** ***** **** **** serve **** ********* *********, **** ********* that *****, ********************, **** **** **** **** *** background. **** **** *** ** ****** "Acre ******** ******* **********."

The ********* ** ***** ************* ********* **** **** ** "*** * ****** *** *******"

***** * ********* ****** ***** **** executives **** *** ********* ******* *** ****** *******, **** ****** ** **** * gesture ** *************'* "**********," *** ******* **** **** a **** ****** **** *** ******* ** ***** a*** ********* **********. **** ****** **** ** ******:

* ***** ** **** ********* **** this ** *** * ****** *** company *** **** ** *** ***** things ***********.

"No ****** * ********** ** **********" - ******* ***** ** *** ***********

***** ****'* ******** ******** ***** *** Grillo *** *** ****** ******* *** a ****** ** *************-*** ****** ******* companies, **** ********** **** ** ** no ****** *** **** *** **** Acre ** *** * ****** ****** instead ** * "********** ** **********":

**** ************ *** **** ** ****** just * ********** ** ********* ****** control *********, ********* ** **** * federation ** **********. *** *** *****, with ********** **** **'** **** **** the **** ** ****** ** **** a ****** ************ ********* **** * clear ******* **** *** *** ******* bases, ******* **'* *** ******* ****, or *** ***********' ******* **** ** upgrade ** **, *** ** ******* as * ****** ******.

**** ******* ********** ** *** *** consolidated ***** ******** * ******* ***** in *** ******** ******** ***********:

** *** ****** **** ** ******* who **** *** **** ** *** just * ********** ** ********* *******, and ********* ** * ********** *** hard ** *******. *** *** **** we **** **** ******** ** ******, intrusion, ******* *** *********** **************, *** we *** *** *******,we *** *** *****, *** **** *** ******** ***** ** ****** **** ******** ****** *******, **** ******** *********, ** ***** **** * ******* ***** ** *** ***********. [Emphasis added]

Market ********: *** ***-**-*** *** "***** *********"

***** **** ************* ** *** ******** security ***** *** ** ***** ** end-to-end ********, **** ** *** ***** so, *********** **** ** ** ******** a "***** *********" *******. **** ********* Acre's **-**-****** ** ***** *** ******* line, ******* ** ** ****** *******, intrusion, ******* **********, ** *********** **************, as ** ***** ***** *** *********** encouraging *** ********* ** ****** **** its ***** *********:

** **** * ***** ********* *** we ******* ****** **** *** **** really ************ * ******** ********. *** market, ***** **** ****** ** ***** depends ** **** ******* ****'** ****** to *****. ** *** *********, *** access ******* ***** ** *** **** and **** ** **** *** *** across *** ********* **** ****.

******* ******** *** ** ******* ********** or ** ***** ** *********. ****'* kind ** *** ***** ***** **** the *******. ** **** **** **** into *** *******.

**** **** **** **** **** ******* its ******** **** ****** ********* ***** of *********:

**** * ********* ***********, ** ******* on *** **'** ******* ** ******* there's *** ***** **** ******** *****, which **** **** ** ***** *** whole ********* *** *** ** ***** together.

** *'* ******* **** *-**, ********, or * ********** ********, ********* **** message **** ******** ******** *** ******** to **** ******** ********.

Consolidating ******** *** ******

**** ******** *** ******* ************ *** 12 ** *** ********* *********' ******** into***. *** ******* ** **** ********* the ************* ** *** ******** ********* tools ******* "*** ***** **** ** 2024":

****'* **** ** * ****** ** activities. **** *** **** **** ******, we ************ ** ******** **** * single *******, *** ** ********* *** company, ** **** ********. ** ******* to *********** *** ** **** ** the **** * *** ******* *** first **** ** ****, *'* ***** be **** ** ********* *** ****. I'm ***** **** *** ***, *** then **** *** *** **** ****** tools **** *** ********* *** **** from * ************* ** [*******] *** and ** ***** *** *** ******** and ********** *** *** ****** ********* all *** ***** ** ** ***.

*** **** ******** ********* *********' ***** addresses **** ** ************ ***** "************.***" by *** *** ** ******* ****, and **** **** **** ******* ********, cultural ******** **** *** ******** ******** and *** ****'* *********:

**** *****, *******, ** ***** ****** everyone ** *** ************.*** ***** *******. I ***** **'* ********* *** *** things. ***, **'* **** * ******* evolution ** *** ******** **** ** we ******* ** *** ******, *** from ** ******** *********** **** ** employee *** **** ** *** ******* [too]. ***** *** ******** ****** [***] employees **** *** ******* ****** ** change **** ***** ***** ********* ***** to ******. **** *** ****** ********* is *** **** *** *******, *** can **** [***] *********** [****] ********, it ****** ** ****** ****. ***** become **** ******** **** ****** *** the ******** **** ** **** **** feel * **** ** **.

**** **** ***** **** **** ******, for ******** *************-****.

Rolling *** ************** **** ******* ******** ******* ** - ******* ******

**** ********** **** ******* ******** ******, Acre **** ******** ******* *** *** branding ******* **********:

*** ******* ******** *** ******* **** much ** *** ******* ****** **********. It's *** **** ** ******** ****. [We ***] ******* **** *** ******* and ******* **** *** *****. **'** getting * *** ** ******** ** what ********* **** [****], **** **** like, *** **** ***** ** **, and ** *****.

*** ******* ** ********* *** ******* partners ** *** ** *** ***** changes *** ******* ******, *** ** a **** ************ ******, **** ****. He ********** ** *** **** ** being **** ********** ** ** ****:

** **** **** ******* **** **** in * *** ** ***** ******, keeping **** *******, ******* ***** *****, and ******* **** ** * **** of *** *******. ** **** ***** advice **** ** **** ** *** implementation ****.

**** **** **** **** **** *** be **** ** ***** ****** "** isolation"; ** **** **** **** *** channel ******** ** ********** *** *****:

*** ********, ****'* **** ** **** Q1 ** **** ****'** ***** ** be ******* ** ** ***** ** exactly ***** ** ***, *** * lot ** **** **** **** ******* with ** *******. ** ** **** been ******* *** *** ******* **. So ****. ***** ** ***. ** can't ** **** ** *********.

********* ******* ******* ********** *** ********* partner ********** ** ** "********* *******" for **** ** ** ** ****; Joos ******** ** *** *****:

** ********* ******* *** ** ** 2024 ** *** ******* ********** *** their ******* **********. *** **** *** in **, **** *** **** ** we **** *** *** ******* **** a ******** ***********, ** ** **** unifying *** ******* ******* ** * global *****, ** **** ** **** a ******* ********** [***********].

**'** ** ******** *** **** ***** from * ******* ************ ********** ***********, because ** * *******-***** *****, **** partner ********** ** ** ********, ** we're ********** ** **** **** *********** from **** ***********.

"Culmination" ** *** ************* ******* ** *** ****

****'* ***** ************* ******* **** ***** "culmination" ** *** **** ****, ***** is ***** ** **** ***** ******** April ***, ****:

**'** ****** * *** ** *******. And *** ** **** ****** **** we're ******* ***** **** ****** ***** out ** **. *** *********** ** all ** **** **** ** ***** to ****** ** *** ****. **'** not **-** ** *** ****, *****'* going ** ** * ******* ******* approach ********** ** **** * *********** occurring ** *** *** ****.

***'** ***** ***** ** *** * lot ** **** ***** ** *** rolled *** ******* ** **** ** get *** ******** ******* ** ** this, *** **** *******, *** ** forth. ** ***'* **** **** ** find *** ** *** ****. ** we'll ** ***** ******* * *** of ******** ** ** ** ******* February *** *****.

Migration **** *** ********

******* ********** *** ************* *****, ***** will ** ******** ** ******* ***** for ******* ******** ** **** ****** the ******, **** ****:

****'* * *** ** *** ********, that's ***** **'** ******* ***** ****. That's **** ** ** *** *****. That's *** * *** *** *** West ** * ****** *** **** about *********, *** **'* *** *********** of *** *** ** ********** **** we're ******** ***.

**** *** ****** ** "************** ****" on ******** *** ******** *** ********* the ******** ** ************ *** ********, Joos ****:

**'* ******** *** *********, ******** *** channel, ******* ****'* ***********, ******* ****'* distributors, **'* ******* ******** ***** **. We **** * ***** ******* ** implementation **** *** ****** *** ********** this *****. ****'* *** ***'** ***** to ********* *** **** *** **** about ** ** ** **** *** way ******* *** *******.

*****'* * ***** ******** ******* *** curriculum *** ****** ** **** ****** that **'** ** ******* **** ****. It's *** **** ** *** ******* program.

Unifying ********: *****-******* ** * ******* **** ** *** **-**-****** *******

**** ******* **** *****-******* ************* ******* brands ***** *** *************:

**** ******** ** *** ******* *** single-threaded **** *** *******, **** ***** multiple ******** ****** *** *********. **** already ******* *****. *****-******* ** * very ******* **** ** * **-**-****** process.

** ** ******** *** *********. ** we *** ******** ********* ** ***** such ** *** *** ****** ** that ******. ** ***** ** ******* visibility, *** **** ****** ******* **** cross-selling ***********.

Working **** ** *********** *** * ******* *********

**** ***** ** ****** *** ******* into * ******* ********* ** ***********, not **** *********** ***** ******** ******* providers, **** ****:

* ***** **'** ***** ** ******* a *** ** *** ******** **** the **** ** ******.

** ** **********, ******* *'** *** multiple ********* ******* ****** *************** ******, there *** ****** *** ********, ***** are ****** *** ***** ** ********, and **** * ************** ** *********, people *** *** ******* ** * logical **** ** *** ********* ******* and **** **** ***** ****** **** the ******** ******** ***** **** *** not ** ** ********* *****, *** in **, **, ** ******, * think **** *** ** * *** more *********. ****** **** ***, *** managed ******* *********, * ***** ****** see **** *********.

**** ******** ** *** ***** *** mutual ******** *** ** *********** ** enter *** ******** ******** ******:

****'** ********** **** ** *** ** side. **** ***** ** ***** *** cybersecurity ****; **** ***** ** ******* on *** **********. **** ******* *** working **** *** ********** ********. **** already **** ***** *********. ***** ********* processes *** ** *****. ****'** **** familiar **** ********* *******. ** **** have *** ************** ** ***** *** now **** ***** ** **** ********* their *********** ******. **** **** * lot ** ********* **** **** *** bring ** *** *****.

* ***** ***** ***** ** *** go-to-market ******** **** **** ***********. * also ***** ***** *** ** **** really **** ************ **** *** *** formed ******* **'** **** ** * broader *********.

Support **** *************

** **** ** * "******* *********," Joos ****** **** ************* *** **** that **** ***** ******* **** **** different ********** ******** ** ****:

****'* *** **** ************* *** ** important ** **** *********** **** **** is * **** ************** **** ** solution. ** * ***** * *** of ********** ************, ***** ** **** already, *** * ***** ****'* ***** to ******** ** ****.

Encourage ******** *** **** ******** ** ******* ******** *******, ** ***** ******

**** **** **** ** ***** ** assure ***** **** ***** ***'* ** an "***-**-****" *** ******** ******* ***** and ********* **** **** ** *********:

** **** *** **** **** **'** end-of-saling ** ***-**-****** *** ***** ******** and *** ****** * *** **** is ******* ** ******* **** ** around, ** *****'* **** *********.

** *** **** *** ********, ** new ************, **'* ***** ** ** on *** [***] ********. *** ** you *** * ******** ** ******* who *** * ******** *** ***** to ****** ** *******, ********, *****, do **. *** *** ** ****. We're ***** ** ******** ** ***** that.

**** **** ******** ** ******** ******** product ***** **** * "************* ***********," Joos ****:

******* **** **** **** ** **** status ***. **** ***'* **** ** do ** *******. ****'* ****, ***. We're ***** ******** ** **** **** security ******* *** **** **** ******* from * ************* ***********, *** ** do **** *** ******* **** ** get **** *****.

**** ******* ********** **** ** **** not **** *** ****** ** ***** that ******** ******* ***** **** ** away **********, *** ** *** ******* that ********* **** ********** ******* *** it's "**** * ****** ** ****":

*'** **** ******* **** ***** ***** already ** ***** **********. **'* **** a ****** ** **** **** ****'** going ** ****, *** ** ***** be * ****; ** ***** ** three *****; ** ***** ** **** years. * ***'* **** **** **** answer **** **. *** *** ** what * ***'* **** ** *** anyone ** **** * ***** ****** and *****, "** ** ****, ** end-of-sale ** ***-**-**** ********," ******* ***** isn't. ** ***'* **** *** ******* date *** * **** ** **** sure **** ******* ** ***** *** it *****'* *** ************ ** *** marketplace.

Easy ******* ****

*** ******** *****, **** *** * clear ******* **** *** **** ** migrate ** *** *** "****-*******" *********, Joos ****, ********** **** *** ***** will ******* *********** ** **** **** upgrade ** ******* *** **** **-**-**** features:

** **** ***** *** ****. *** tools *** *** *** *** **** but **** *** *** ********. ** needs ** ** ************ ***** *** a ******* ** *** **** ******** here ** **** * ******** *** upgrade ****. * ***** *** *** user **** ***** **** ******* ****'* where *** *** ******** ***.

**** **** **** **** **'* * smooth ******* **** *** *********** ** well, **** *****:

****'* ***** *** *** ************ *** going ** **. [**'* ***** ** be] **** **** ****** **** ** API / *********** [***********]. **'** ******** tools, *** ******** ******* *** ****** like **** ** **** ** ****** for **** ******* ** ** **** upgrade. ****'* * **** ** *** equation. **'* *** **** *** *** end ****. **'* **** ****** **** a ****** ******* **** *** ******* perspective.

Internal *&* ******* ************

******'* *** ********** **** ****, **** *** **** ************* *** code *****. **** ******** **** *** development ****** **** ***** **** **** the ****** *** ***** **** ** its **** **** ********:

** ** ****** ******** ******** *** all *** *** ******** ** *** go *** ********. **** *** ************ where ** ***** ** ********** *** resources. **%+ ** *** ************'* ********* are ******* ** *&*. *** ** Darren *********, *** ***, ****'* **** he's **** ***** ********** ****.

[** ***] ********* ****** ************** *********** aligning ** **** ** *** **** and **** ** *** ******. ** start ** **** *** **** ******** across *** **** **** ***** ** the ********, *** *********, *** ******* management *** *** *&* ************* ***** to ****** *** ***** ******* **** too.

Working **** ******** ** ***** ************

** *** ******* "****" ********* "****** Control ******* ***********," *** ******* *** been ******* ** *** ****** ******* side ** *** ******** ******** ********. Joos **** **** **** ********** **** video ******** ** *** *********** **** is **** *** ******* *** **** doing "*** **** ****," *** ******* continuing **** ********, ** **** **** "opening ** *** ************":

**** *** **** ** *** ***** and ** ******** ** ******* ********* with **. [****] ** ** ***** now ** ** ***** **** ** the ************ **** ** *********** *********** with * *** ** *** ***** companies. **'* *** **** ** ********* with * **** ***** ** ***** providers. ** **** ****** ****'* *** path ** **** ****** *****, *** we've **** ***** **** *** **** time.

* ******'* *** ****'* ********* **'** going ** *** ****. **'** **** supporting *****-***** ********* ** **** ** a ***** ******** *** ***** **** time *** ** ** ******** ** open ** *** ************, **** ** gets **** ** *** ***** ** integration **** **'** ***** **** ***** people *** *** ********* ***** ** integrations ** **** ** ****.

Acre **** "******** ** ** ***********"

** * ******* **** *** ******** more **** * ***** ********* ***** its ********* ** **** **** ** acquired********** **********, **** ********* ** **** **** it **** "******** ** ** ***********" in ****. **** ********** ** *** this ********** ** ********* ** *** private ****** *****,******:

*** ******* ****** ****** *** **** supportive ** **. ****'* *** ** the ******** ** ***** ***** ** private ******. **** ******* *** **** the ******* ** ** ***** ******. We ***** ** ************ ** ***** categories.

**** ******** ** *** **** ** interested ** ****** ******* ****-***, ********** targets, *** **** ****** *** ********** focuses ** ****** **** "******* ***********" so ** *** *********** ******* **** market ****** ***** *** ******* "***** buildings" ********:

***, ****** ******* [** *] **** fragmented ******. ** *****'* * *** of ************* *** ****-** *************. **'** done [****] *** **'** ******** ** do * ***** ** **** *** just ******** *** * ******** *** stronger ******* ****, *** **** ******* the ********** **** **** **'** **** been ******* ***** *** **-******* ********.

*** ****** ******** ** ********** *******. It's *** ***** **** ************ ** time ** ****** ** ** ***** are **** ****** **** ********** ******** that ** *** **** *** ** our ******* ******** ** *********** ** time ** ******.

*** ***** ******** ** **** * would **** ******* ***********.We *** **** ** * **** ****** ******** **** *** ***** ***** **** ***** ********* *** ***** ******; how green energy plays in or identity management plays in things of that nature. We are part of a much bigger ecosystem and there are probably some logical adjacencies that we ***** ** ***** ***** ** ****** ****** *** *********** ****** *** **** *** ****** *****. We **** *** ******* **** *** ** ******** ***, *** **** ** ********* ** *** ****. [Emphasis added]

More ******* ************ **** ***** ***** ****

********* **** *********** ******* *** *********, Joos **** **** ** ******* ******* ones ***** **** *** ****** ** consolidate ****:

** **********, ******** * ** ****** open ** *******, ** **** ************, and ***** *'** ****** ****, [**'** done] **** ** *** ******* ****. They're ******* *** ****** ** ******* tuck ** ** *** ************. ** can ** ******** **** *** ** four * ****, ****'* * ****** good **** *** *** ************ ** be **** ** ******.

Joos' ***** ** *** *********+******* ****: ******* ******** **********

********** ** *** ********* +******* ****, Joos **** ** ******** **** ******** in *** ********, *** *** ***** industry ******** **** *** **********:

** *** ********* ****, * ***** that's *****. ******* * ***** ** just ********* *** ********** ** *** space. *'** ****** ****, *** ****, a ****** **** ***** *** *****. The ***** ********* ****, *** *** visibility **** ** *********, *** * lot ** ****** **********. ***** ** the ******** ******* ***** **** ****, there **** * *** ** ****** there. *****'* * *** ** ********. I ******* **** *** *** **** is ***** ** ** ****, **** well ******** **** ****. * ***** there's **** * *** ** ********, and * ***** ********* **** ********* that ********** ** **. * ********** think ****'* *****.

"Multiple ******** ** ********," **% ********** ****, ******* ******* ****** ** ******* *** ******

**** **** **** ** *** **** than **% **** ***** ****:

**** ********* **** *** **% **** was * ********** ****** ********** ***** on "******* *******" **** ***** *** and **** ************* *** ************ ***** the ***. ******* *******, **** **** that ***** *** ******* **** **** both *********** *** ***********, ** **** "outpace *** ****** **** ** ******* perspective."

** **** ************ ********** *** *********** for *** ***** ********* ******, ***** would ** ** *** ******-***** *** outpacing *** ******:

* ***** ****** *** ***** ****** to ** ******* ** * **** faster **** **** *** ***** ******* growth ******* * **** *** **** shifting ** ****.

** *********** ** **** *** ***** should ** ******* **** ** *** double-digit *****. * ***** **** ************ the ******* ****** [*** ****] ******* in *** *** ** ***** ****** digits [*****]. * ***** ** ****** be ********* ****, *** **** **** the ****** ****** **** * ***** growth ***********.

*******, **** *** *** ******** ******** numbers *** ****'* ******* *** **** that:

** *** ** *** ******** ******** of ******** **** * ******* *********** and **** **********.

*** ******* ******** ** *** **** its **** ****** ***. ** ******* the ******* *** *** **** ********** more ********, ***** *** ****** ** changes *** *** **** ** ******* those *******.

Acre ** * ******, ********** ******** ****** ** *** ******* *** *****

**** * *********** **********. **** ********** that **** ******* "*** ***** *****" but ***** **** ** * "******" asset ** *** ****, *****, *** installation **** ********:

**** *** ***** **** ** **** both *********** ** **** ** **** installed ****-****, *** ********** ********, *** breadth ** *** *********, *** ****** the ******* **** *** * ****** profitable ********, * ***** [****] ***** us * ****** ****** ***** ** the ***********. **'** ***** ** **** make ********* **** **** ****** **** what **'** ***** *** ******* ** the ***** **** ** ****.

**'* ******* ***********. * ***** ********'* got ***** *****. **** * **** about **** *** ** **** ** are ******** ********** **** ******* ** are * ******, ********** ******** **** has ******* *** ***** **** **** geographic [************] ** **** ** **** a ********** ***********. ** *** ***** we're **, *** *** ******* **** we ****, *** *** ************* **** we ****. *****'* **** *** ** many ****** ** *****.

**** **** **** **** *************, **** has "*** * *** ** *** foundational ****** ** *****" ** **** to "****** [***] ******" ** ****.

Headcount ******: ****** ** *****

**** **** **** **** **** *** has ****** *** ********* *** **** it ** "********** ** ******" ** its "**********" *** "***** ******," ***** are "*** *** *****" **** **** invests **.

Biggest *********: ********* *** ***** ****** ********** *********

****'* ******* ********* ** ******** *** funds ********* ** ******** ** **** usually **** **** ******** ** ***** hands, **** ****:

*** ******* ********* **** ** **** in *** *********** ** ** **'** selling ** ********-******, ***** ** **** and **** ****** ** *** ** side ** *** *** ****, ** I've *** ** **** * *** who's ******* *** ******* *******. **** have * *** ** ******** ** their *****. ** ***** * *** of **** ********* ** *** ******.

**** ********** ** *** **** ***** to ***** *** ******** ** *** right *** *** *********' *****:

**'* *** **** *** ** *** right ***, **'* ***** ** **** into. ***** **** ** *** **** into ***** ********* ** ***** ******* how **'** ******* *** ***** *** how ** *** **** *** ******** that ** ***** ** *** ********? A *** ** ***** ****'* ***** we ******* *******. ** ******* ** get ****** ***** **** *** ******* market *********** ***********.

***** ***** **** **** ********** ******* companies ***** ***** **** *** ****** quo, *** ******** ** ******, ********** "to *** *****," **** **** **************:

*** ******* ****** ** **** ** companies *** ***, *'* **** *** going ** ** ********. *'* **** going ** **** [** ***] ****** quo. ****'* *** ******* ****** ** have. *** * ***** ** **** and **** ********** ********* *** ******** are ***** [** *** *****] ** [the ********] *** **** ******** *** last ** ***** ****** ** *** cloud. * ********** ******* **** *** industry ** ****** ***** ** ** inflection ***** **** *** **** ****** of *****, ***** **'* **** ********** to *** ***** *** * ***** a ******** *** **** ** [****] the ** ************* ****** **** ********. It's **** ***** ** ****** **** of *** ******* *** **** ******* they've **** ***** ** *** ** years ***.

"Cloud-Led" ***** ** ****

**** ********** **** **** ** *** a *****-***, ********-*** ******* *** **** there's ** **** **** *** **-**** customers ** ******* ** *** ***** as ****:

**'** ***** ** *** ** *** cloud. **'** ******* [*** *****]. ** have **-****, *** ** *** * cloud-led, ********-*** ********. **-**** **** ** there. ** *** ***** **********, **'** just ***** ** *** **** ********** point ********* ** *** **** ****** of *****. **'* * *****-*** ****. And ****, ** **** ****** ** go **-****, **'* *** **** **** base ****'* ** *** *****, ** it ***** ** ** **** ****** migration **** **** **** *** **** they *** ***** ** ** **.

"Someone ***** ** *** ***** *****'* ** *** *** *****"

***** *** *** ******* ***** ********* are ***** ** *** **** ******** and ******** ********* *******, *** *** the *****, **** ****:

******* ***** ** *** ***** *****'* go ** *** ***** *** *****. They're ***** ** *** ***** *** different *******. **** *** ***** ** the ***** *** ******** ******* ** for ******** *****, *** **** ** their **** *** ******* **** ** certain **********. **** *****, **** *** be ******* *** *** *********** ****** that **** **** ******* **********. ** I ****, **** ******** *** ** forth, *** ***** ** ******** ***** on *** ***** ****.

******* ********** ******* **-**** *** ***** is **** * "***** ************" ** it's ******* **** ****** ****** ** the *****, **** ****:

**'* *** **** * ******* ************* comparison. *'** ****** **** *'** **** partners **** *** **** ***** ** you're ******* **-**** ** ***** *** you're ****** * ******* ************, *** are ** *** ***** ************ ******* it's *** ***** *** ******** *** it's *** ***** *** *****. **'* about ***** ***** ******** *******, *** a *** ** ** *** ** do **** ******** *** **** ********, and *** *********** ****** *** **** they're ****** *****.

Joos ****** *** ******** ******* *** ****** ** "*** ******** ** ***** ***** *** *****"

**** ******** ********** ** ***** **********, Joos **** **** *** ******* ***** of ****** ** *** ***** ** physical ******** ** *** ***** ** "transition" ** *** ********, *** **** is **** ******* ***:

**** *** *** ** *** ****** that ********* ** ** **** ****. I've **** ** **** ** ***** career, *'** *** ****** *** ******* companies, *** *'** **** ** ******** industries, *** *** ****** ***** ** they've *** *** ** ** ******* some ****** **********, *** **** *** business ***** *** ** ******.What ****** ******* ** ***** **** ******** *** **'* **** ****** *** ******** ** ***** ***** *** *****. [Emphasis added]

*** *********** ** ***** **** ******* this ***** ** **** ********* **** to **** ********. ** ****:

**'* *** **** ***** ****, ** a ***, *** *** ** **** in *** **** *** ** ***** assets ** ***** ** *** ****** the *******. *** *** **** ***** market ******** ***** *** ***** ***'** familiar **** *** ****** ********** ****'* been ******* ***. *** **'* *** that ***** **** *** **** *** the ****** *** * ****** ** define **** **********. *** **, ** was ********** ** **** **** **** industry **** *** **** **** ******** through ****, ******* *** ******* ******** through *** ****** **** ******** *****.

Joos' ******** ****: ******** **** ******* ****; ** *** **** ******* ****** **

**** **** **** **** ** ** having *** *** **** ******** *** journey ** **** ** **** **** for **** *** ****:

*'* ****** * *** ** ***. I'm ********** ** **** ******* ****. Because **'** *** ****. **'** **** getting ****** **. **'** **** ******** to **** *** ****** ***** ***. For ** **** * **** ** 2024 *** * **** ** ****. I'm ***** ******* ******* **'** ***** the **** ** ****** ******* * lot ** *** ************** ** *****.

*** **'** ****** ******** ** **** off ** **** ************** **** **'** built. ** *** **, **** ** this ** * *** ** ***, and * **** *** ** **** opportunity ** ***** ** **. ****'* my **** ***** ***** *** ** continuing ** **** ******* ****.