Hyatt India And The Nita Mukesh Ambani Cultural Centre Redefine Cultural Partnership

* World of Hyatt loyalty members will enjoy exclusive privileges and access to the most sought-after experiences at the Nita Mukesh Ambani Cultural Centre.

Hyatt India today announced a strategic collaboration with the Nita Mukesh Ambani Cultural Centre (NMACC), a first-of-its-kind, multi-disciplinary cultural space in the sphere of arts. The collaboration will provide World of Hyatt members exclusive access to a range of unique experiences and privileges at NMACC from across the globe. The collaboration marks a significant step in Hyatt’s commitment to delivering unparalleled hospitality that goes beyond guest experiences at the hotels. It will cater to the evolving needs of the hotel’s discerning clientele by offering thoughtfully curated moments in the realms of art, culture, and fine dining.

True to the Cultural Centre’s vision of showcasing the best of India and the world, World of Hyatt members will be able to enjoy an array of extraordinary experiences from across the globe. This collaboration will offer members exclusive access to travelling international musicals at The Grand Theatre, tours of SWADESH by Reliance Foundation — an India-inspired art and craft exposition, the Fountain of Joy at the iconic Dhirubhai Ambani Square, diverse culinary offerings, and much more. Thus, highlighting Hyatt's strategic emphasis pillars of Loyalty, Luxury, Leisure, Lifestyle, and Wellness (LLLW), catering to the evolving needs and preferences of guests and members.

Commenting on the partnership, Sunjae Sharma, Managing Director, India and South West Asia, Hyatt Hotels Corporation, said, "We are delighted to partner with the Nita Mukesh Ambani Cultural Centre to bring the finest of India’s cultural and artistic expressions to our esteemed World of Hyatt members. At Hyatt, we are always striving to curate distinctive experiences that go beyond traditional hospitality for our loyalty members, rooted in our purpose of caring for people so they can be their best. We want to inspire our guests to ‘Be More Here’ by embracing the present and enhancing their wellbeing with transformative journeys that leave a lasting impression.”

Devendra Bharma, CEO, Jio World Centre, shared, “We are delighted to partner with Hyatt India, proudly extending our Founder & Chairperson, Mrs. Nita Ambani’s vision to bring the best of India and the world to the Nita Mukesh Ambani Cultural Centre (NMACC) and to a wide and evolving group of patrons. We welcome members of the ‘World of Hyatt’, to embrace unforgettable artistic and cultural experiences at NMACC. Together, we aspire to transform the travel and hospitality landscape, curating a holistic and enriching experience”.

World of Hyatt rewards guests with personalised experiences, exceptional service, and exclusive benefits across a global portfolio of Hyatt hotels, resorts, and partners. Hyatt also recently announced, ‘Be More Here’, a new brand platform that invites guests, members and customers to lean into the transformative powers of travel and be more present.

For more information on the collaboration, visit www.hyatt.com.

About World of Hyatt

World of Hyatt is Hyatt’s award-winning guest loyalty program uniting participating locations in Hyatt’s Timeless Collection, including in the Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, and UrCove brands; Boundless Collection, including in the Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt® brands; Independent Collection, including in The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt® brands; and Hyatt’s Inclusive Collection, including in the Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas brands. Members who book directly through Hyatt channels can enjoy personalized care and access to distinct benefits including Guest of Honor, confirmed suite upgrades at time of booking, diverse wellbeing offerings, digital key, and exclusive member rates. With more than 40 million members, World of Hyatt offers a variety of ways to earn and redeem points for hotel stays, dining and spa services, wellbeing focused experiences through the FIND platform; as well as the benefits of Hyatt’s strategic loyalty collaboration with American Airlines AAdvantage®. . Travelers can enroll for free at hyatt.com, download the World of Hyatt app for android and IOS devices and connect with World of Hyatt on Facebook, Instagram, TikTok and Twitter.

About Hyatt Hotels Corporation

Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company guided by its purpose – to care for people so they can be their best. As of March 31, 2024, the Company's portfolio included more than 1,300 hotels and all-inclusive properties in 78 countries across six continents. The Company's offering includes brands in the Timeless Collection, including Park Hyatt®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Hyatt Vacation Club®, Hyatt Place®, Hyatt House®, Hyatt Studios, and UrCove; the Boundless Collection, including Miraval®, Alila®, Andaz®, Thompson Hotels®, Dream® Hotels, Hyatt Centric®, and Caption by Hyatt®; the Independent Collection, including The Unbound Collection by Hyatt®, Destination by Hyatt®, and JdV by Hyatt®; and the Inclusive Collection, including Impression by Secrets, Hyatt Ziva®, Hyatt Zilara®, Zoëtry® Wellness & Spa Resorts, Secrets® Resorts & Spas, Breathless Resorts & Spas®, Dreams® Resorts & Spas, Hyatt Vivid Hotels & Resorts, Alua Hotels & Resorts®, and Sunscape® Resorts & Spas. Subsidiaries of the Company operate the World of Hyatt® loyalty program, ALG Vacations®, Mr & Mrs Smith™, Unlimited Vacation Club®, Amstar DMC destination management services, and Trisept Solutions® technology services. For more information, visit www.hyatt.com.

About the Nita Mukesh Ambani Cultural Centre

The Nita Mukesh Ambani Cultural Centre is a first-of-its-kind, multi-disciplinary space in the sphere of arts, within the Jio World Centre, located in the heart of Mumbai’s Bandra Kurla Complex. 

The Cultural Centre is home to three performing arts spaces: the majestic 2,000-seater Grand Theatre, the technologically advanced 250-seater Studio Theatre, and the dynamic 125-seater Cube. The Cultural Centre also features the Art House, a four-storey dedicated visual arts space built as per global museum standards with the aim of housing an array of exhibits and installations from the finest artistic talent across India and the world. Spread across its concourses is a captivating mix of public art by renowned Indian and global artists, including ‘Kamal Kunj’ – one of the largest Pichwai paintings in India. 

Uber Pet Launches A New Way To Travel With Your Furry Friends In Bangalore

Uber, one of India’s leading ridesharing app announced the launch of Uber Pet in Bangalore, allowing riders to bring their beloved pets along for the ride. With this new reserve-only service, pet owners can now enjoy stress-free travel with their furry companions, whether it's a quick trip to the vet or an outing to their favorite pet-friendly café.

Uber Pet offers riders the option to book a ride with their pet—either a dog or a cat—ensuring a comfortable experience for both themselves and their pets. This feature not only ensures the comfort of the rider but also provides peace of mind knowing that their pet is welcome during the journey. By selecting the Uber Pet option, drivers will be notified that a pet will be traveling, making the experience smooth and enjoyable for both the rider and the driver.

Uber Pet caters to the growing number of pet owners looking for convenient transportation options without leaving their furry companions behind. The new service also offers additional earning opportunities for drivers on the Uber platform. Uber Pet aims to enhance the overall experience for both riders and drivers, making it easier to connect and share the journey.

Commenting on the launch, Shweta Mantri, Head, Rider Verticals, Uber India and South Asia, said, “We understand how important pets are to their families and including them in our outings is essential. Uber Pet is our effort to make travel more accessible and convenient for pet owners and their companions. Our aim is to provide a seamless experience for pet parents while also creating additional earning opportunities for drivers, allowing everyone to include their beloved pets in  their journeys.” 

Uber Pet will be available exclusively as a reserve-only option in the Uber app for riders in Bangalore. Riders can pre-book their rides from 60 minutes to up to 90 days in advance.

How to book an Uber Pet trip:

*      Open the Uber app and enter your destination in the ‘where to’ box

*      Select Uber Pet at the bottom of the screen

*      Set pick up time

*      Review booking details and tap confirm

*      Enjoy your ride

About Uber:

Uber came to India in 2013 with a simple promise: press a button, get a ride. 10 years and over 3 billion trips later, we continue to build products to help people get where they need to be. Today, Uber is available across 125 cities in India and has become #IndiaKiRide where people can go where they have to on Moto, Auto, Cars and even Buses - designed for their various intracity and intercity travel needs. With just a swipe on the app we make mobility seamless for millions and support over 1 million Indians make a sustainable income by getting in the driver's seat. We continue to reimagine the way the world moves for the better in ever expanding ways and as we mark our ten-year milestone - we remain committed to keep India Moving Forward.

Coca-Cola India Bags Mahatma Award For Corporate Excellence In CSR

~ Recognition highlights contributions to water stewardship, circular economy, and sustainable agriculture ~

Coca-Cola India has been awarded the coveted Mahatma Gandhi Award for Corporate Excellence in Corporate Social Responsibility for its remarkable contributions to social and environmental responsibility through initiatives in water stewardship, circular economy, and sustainable agriculture. The award was presented by Dr. Kiran Bedi, former IPS officer, at the India International Centre in New Delhi on the eve of Gandhi Jayanti, October 1st.

Commenting on the recognition, Rajesh Ayapilla, Senior Director-CSR and Sustainability, Coca-Cola India & Southwest Asia (INSWA), stated, “We are humbled to receive this award for Corporate Excellence in CSR. It reflects our continuous commitment to environmental stewardship and empowering communities to use sustainable practices in agriculture, waste management etc. This honour serves as a testament to the dedication of the entire team, our partners, and the meaningful impact we together strive to create.”

At the heart of the company's sustainability initiatives are three key focus areas: Water Stewardship, Sustainable Packaging, and Sustainable Agriculture. The Company’s 2030 Water Security Strategy aims to replenish stressed water resources and enhance community water access. Through the Fruit Circular Economy initiative, specifically Project Unnati, the company uplifts lakhs of small and marginal farmers with sustainable agriculture practices across 13 states by helping farmers boost productivity and improving livelihoods. Meanwhile, the ‘World Without Waste’ strategy under the Company’s sustainable packaging efforts, promotes a circular economy through its strategic initiatives under Design, Collect, and Partner pillars.

About Mahatma Award:

The awards recognize and celebrate social impact leaders and change-makers across the globe, who are making social impact and leading the way to a sustainable future. Since its inception, Mahatma Award has honoured the most accomplished social and community initiatives within the private and public sector, from sustainability to philanthropy to shared value to corporate social responsibility.

About Coca-Cola India: 

Coca-Cola in India is one of the country’s leading beverage companies, offering a range of high-quality and refreshing beverage options to consumers. The company, in line with its vision of ‘Beverages for Life’, offers a wide portfolio of products which includes hydration, sports, sparkling, coffee, tea, nutrition, juice and dairy based products. In India its beverage range includes Coca-Cola, Coca-Cola Zero Sugar, Diet Coke, Thums Up, Charged by Thums Up, Fanta, Limca, Sprite, Maaza, Minute Maid range of juices and juice beverages. The Company also offers hydration beverages including Limca Sportz, Smartwater, Kinley, Dasani and Bonaqua packaged drinking water and Kinley Club Soda. Premium products constitute Schweppes range and Smartwater. In addition, it offers Costa Coffee and organic green tea-based beverage- Honest Tea amongst its range of coffee and Tea. The Company is constantly transforming its portfolio, from reducing sugar in its drinks to bringing innovative new products to market.

The Company along with its owned bottling operations and franchise bottling partners has a strong network of close to 4 million retail outlets through which it refreshes millions of consumers across the country. It seeks to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable agriculture initiatives and carbon emission reductions across its value chain.

Globally together with its bottling partners, The Coca-Cola Company employs more than 700,000 people, helping to bring economic opportunity to local communities worldwide. Learn more at www.cocacolacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.

TKM Welcomes Dr. C.N. Manjunath MP, Bangalore Rural For Insightful Visit And Health Talk On "Myths And Facts About Heart Health"

Toyota Kirloskar Motor (TKM) had the privilege of hosting renowned cardiologist and Member of Parliament, Bangalore Rural Dr. C.N. Manjunath, during his recent visit to the company's premises. Known for his vast experience and expertise in the field of cardiology, Dr. Manjunath graciously shared his insights on a critical and timely subject – “Myths and Facts about Heart Health.”

During his visit, Dr. Manjunath engaged with TKM employees in a lively discussion that delved deep into the intricacies of cardiovascular health. In a comprehensive and engaging session, he dispelled several widely held misconceptions about heart disease and offered practical advice on how to prioritize heart health amidst the demands of modern life. The session saw enthusiastic participation from employees across departments. The engaging presentation covered a variety of crucial topics, including debunking common myths for better understanding of real risk factors and recognizing early signs of heart-related issues. He also educated the audience on practical lifestyle changes to maintain long-term heart health, including a healthy diet, regular exercise, stress management, and routine health check-ups.

Dr. Manjunath’s visit and his thought-provoking talk were greatly appreciated by the TKM community, leaving a lasting impact on all participants. His expertise not only shed light on the intricacies of cardiovascular care but also underscored the importance of health awareness in the corporate world.

Dr. C.N. Manjunath, Member of Parliament, Bangalore Rural and Former Director, Sri Jayadeva Institute of Cardiovascular Sciences and Research, said, “Cardiovascular diseases are one of the most significant health challenges globally, and the key to addressing them lies in awareness, education, and early intervention. I believe that empowering people with the right information is crucial. By understanding the real risk factors, recognizing early symptoms, and making small yet impactful lifestyle changes, we can significantly reduce the burden of heart disease. It was a pleasure to engage in such a meaningful dialogue at TKM and share insights that can hopefully influence their day-to-day decisions about health. I commend TKM for their commitment to health awareness and look forward to continuing these discussions in other settings. Let us remember that good heart health is not just about medical intervention, but about preventive care and making informed choices that lead to a healthier and more fulfilling life.”

Following the presentation, employees had the opportunity to engage in a dynamic Q&A session with Dr. Manjunath. Questions ranged from understanding cholesterol management to the effects of genetics on heart disease. Dr. Manjunath responded with expert advice tailored to the individual concerns of the participants, ensuring everyone left with actionable knowledge they could apply in their daily lives. His genuine concern for their well-being and personalised solutions of each query resonated deeply with the audience.

Toyota Kirloskar Motor recognizes the importance of creating a healthy and supportive work environment. TKM looks forward to hosting more such informative and beneficial sessions in the future as the company continues its commitment to employee wellness.

Winners For ‘Solve For Tomorrow 2024’: Team Eco Tech Innovator Wins Community Champion Award & Team METAL Wins Environment Award

* The winning teams, Eco Tech Innovator developed an idea around ensuring equitable access to potable water and its sanitation, while METAL created a technology for arsenic removal from ground water

* Eco Tech Innovator, the Community Champion in the School Track received INR 25 lakh and METAL, the Environment Champion in Youth Track received INR 50 lakh

* Two teams from both Youth and School Tracks clinched the ‘Goodwill Award’ with INR 1 lakh cash prize, while two more teams from both tracks received the 'Social Media Champion Award' with INR 50,000

Samsung India has announced the winning teams, Eco Tech Innovator and METAL for the 3rd edition of ‘Solve for Tomorrow 2024’, the company’s flagship national education and innovation competition. While Eco Tech Innovator from Golaghat, Assam was declared the Community Champion in the School Track, METAL from Udupi, Karnataka was announced as the Environment Champion in the Youth Track, demonstrating the reach of the programme outside major Indian cities.

Eco Tech Innovator, which developed an idea around equitable access to non-contaminated potable drinking water, received a seed grant of INR 25 lakh for prototype advancement. METAL, which developed technology for arsenic removal from ground water, received a grant of INR 50 lakh for incubation at IIT-Delhi. JB Park, President and CEO, Samsung Southwest Asia and Shombi Sharp, United Nations Resident Coordinator in India awarded certificates and trophies to these teams.

In addition, the school of the ‘Community Champion’ will receive Samsung products, including a Smart Display Flip 75”, Freestyle Projector and 10 Galaxy Tab S10+ to help with education and encourage a problem-solving mindset. Similarly, the college of the ‘Environment Champion’ will receive a Smart Display Flip 75”, Freestyle Projector and 10 Galaxy Book 4 Pro laptops to promote social entrepreneurship.

While each of the 10 teams received INR 1 lakh, all members received certificates. In addition, School Track participants received a Galaxy Watch Ultra, while Youth Track participants received Galaxy Z Flip6. The flagship CSR programme, Samsung Solve for Tomorrow, aims to empower the youth of the country to solve real life issues and transform the lives of people with their innovative ideas.

“At Samsung, we are incredibly proud of the innovation and creativity showcased by all the participants of this year’s edition of ‘Solve for Tomorrow. Through our flagship CSR initiative, we aim to empower young minds by providing them with the tools, mentorship and opportunities they need to address some of the most pressing challenges in their communities and the environment. Eco Tech Innovator and METAL’s achievements reflect the potential of the next generation to create meaningful impact through technology and innovation. We look forward to seeing the ideas of these young innovators come to life and make a lasting difference,” said JB Park, President and CEO, Samsung Southwest Asia.

“It has been a great honour to collaborate with Samsung in nurturing these young innovators at a critical stage of their development. Through our partnership, we have provided mentorship, training and access to cutting-edge resources that have instilled confidence and empowered the participants to bring their ideas to fruition. We are proud to see the incredible progress made by team Eco Tech Innovator and METAL and we are confident that their solutions will contribute meaningfully to society and the environment,” said Dr. Nikhil Agarwal, Managing Director, FITT, IIT Delhi.

“World leaders just came together at the UN Summit of the Future in New York to agree on urgent steps to rescue the SDGs and our only planet. The Solve for Tomorrow programme exemplifies just the kind of youth engagement they called for to unlock the solution-oriented innovation and creative thinking we need. The achievements of Team Eco Tech Innovator and METAL show what can be accomplished when young minds are equipped with the right skills, resources, and platforms to innovate. We thank Samsung for fostering this culture of innovation and we congratulate the winners on their remarkable success.” said Shombi Sharp, United Nations Resident Coordinator in India.

The top 10 teams, represented by 22 students, were selected for the Grand Finale to pitch ideas and showcase prototypes to the Grand Jury comprising Mohan Rao Goli, Chief Technology Officer, Samsung R&D Institute, Bangalore, Dr. Srinivasan Venkataraman, Assistant Professor, Department of Design at IIT- Delhi, Dr. Sapna Poti, Director, Strategic Alliances at the office of Principal Scientific Advisor to the Government of India and Sunita Verma, Scientist ‘G’ and Group Coordinator, R&D at Ministry of Electronics & IT (MeitY).

The Grand Finale began with the pitch event, which was followed by an awards ceremony. Top executives and employees from Samsung attended the event, along with winners from earlier editions of Solve for Tomorrow, the Grand Jury members and mentors of the 10 teams as well as representatives from FITT, IIT Delhi, MeitY and the United Nations in India.

Students submitted their ideas under two overarching themes: ‘Community and Inclusion’ and ‘Environment and Sustainability’. The Youth Track submitted ideas under these broad themes, however, most of the ideas focused on tackling key issues such as education and resource access for less privileged communities, challenges in experiential learning, digital literacy, water conservation and arsenic pollution.

Apart from the main prizes at the event, two special awards were also presented during the ceremony, the ‘Social Media Champion Award’ and the ‘Goodwill Award’. Preator VR from School Track and BioD from Youth Track were awarded the Goodwill Awards that honoured audience choice winners. Both teams received INR 1 lakh as cash reward. In addition, You from School Track and EnvTech from Youth Track won the ‘Social Media Champion Award’ that granted INR 50,000 each, in recognition of the teams’ social media contribution.

This year, Shankar Srinivas, the 2022 ‘Solve for Tomorrow’ winner recognized for his innovative ‘Sputnik Brain’ and recently appointed as a ‘Together for Tomorrow’ Ambassador, shared his inspiring journey and experience during the award ceremony. His story demonstrates the power of innovation and passion, encouraging young minds to tackle real-world problems with creativity and determination.

Samsung remains committed to nurturing young innovators, equipping them with the tools and resources to transform their visions into reality. Over the past few weeks, experts from Samsung, FITT and IIT-Delhi worked closely with the top 10 teams, mentoring them as they developed innovative and groundbreaking solutions for real-world challenges. This mentorship helped the teams refine their ideas and guided them through developing functional prototypes. These prototypes were then presented to the jury during the Grand Finale.

This year, participants from both schools and colleges participated from Tier 2 and 3 cities and remote regions across India, from Imphal in Manipur to East Khasi Hills in Meghalaya and Bilaspur in Chhattisgarh. With innovative ideas aimed at addressing local challenges, they sought to transform not only their communities but also contribute to solving broader national issues, driving positive change across the country using technology.

First launched in the US in 2010, the “Solve for Tomorrow” programme is now active in 63 countries across the world and has engaged over 2.3 million young innovators globally. Aligned with Samsung Electronics’ global CSR vision – “Together for Tomorrow! Enabling People” – the initiative is dedicated to equipping young people with the education and skills needed to become the leaders of the future. To learn more about Samsung Electronics’ CSR initiatives, visit our CSR webpage at http://csr.samsung.com

SNI Link: https://news.samsung.com/in/samsung-india-announces-winners-for-solve-for-tomorrow-2024-team-eco-tech-innovator-wins-community-champion-award-team-metal-wins-environment-champion-award

About Samsung Electronics Co., Ltd.

Samsung inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, home appliances, network systems and memory, system LSI, foundry and LED solutions and delivering a seamless connected experience through its SmartThings ecosystem and open collaboration with partners. For latest news on Samsung India, please visit Samsung India Newsroom at http://news.samsung.com/in. For Hindi, log on to Samsung Newsroom Bharat at https://news.samsung.com/bharat. You can also follow us on Twitter @SamsungNewsIN.

NESCAFÉ Sunrise Unveils New Campaign Honouring Coffee Farmers

NESCAFÉ Sunrise has launched a campaign to celebrate coffee farmers and honour their dedication and relentless efforts in growing coffee. The campaign pays a tribute to the love and commitment with which these farmers work in their fields, to grow high quality coffee. It also highlights their association with Nestlé agronomists, who work closely with these farmers, as a part of the NESCAFÉ Plan.

The NESCAFÉ Plan, introduced in India in 2012 goes beyond coffee. It aims at developing good agricultural practices, sustainable management of landscapes, and enhancing biodiversity in coffee farms. It blends the valuable traditional knowledge of coffee cultivation with modern scientific practices to aid sustainable growth of coffee in the region. Nestlé India works closely with around 5,000 coffee farmers in Karnataka, Tamil Nadu, and Kerala through the NESCAFÉ Plan.

Talking about the campaign, Mr. Sunayan Mitra, Director, Coffee and Beverages business, Nestlé India, said “Behind every delightful cup of Nescafé, there are coffee farmers whose hard work and dedication contribute to the exceptional taste of our coffee. On this International Coffee Day, we pay tribute to these remarkable farmers by sharing their stories on our jars and through this beautiful campaign crafted with love by our teams at Nestlé and Dentsu Creative Webchutney. The coffee farmers are the backbone for our NESCAFÉ Plan. They have helped us gain immense consumer love and trust for our brands by upholding the safety and quality of our products. This campaign is a homage to their perseverance and dedication, and I hope that it will be appreciated by our consumers.”

Mr. Vidya Sankar, Senior Vice President, Dentsu Creative said “This campaign is centred on the hard work of coffee farmers and the collaborative work between Nestlé India and the coffee farmers. It also shines the spotlight on the contributions made by coffee farmers to our society and how they impact the consumer's experience while they enjoy a delicious cup of Nescafé Sunrise. Set amidst verdant green coffee plantations in Coorg, the film is an ode to every coffee farmer, the backbone of the coffee industry."

The film has been directed by Mr. George K Antoney and produced by Kadhai Films.

As a part of the campaign, NESCAFÉ Sunrise has released 5 new packs with the pictures of 5 coffee farmers from the coffee-growing region in Karnataka, who are a part of NESCAFÉ Plan. These packs also have a QR Code. Once scanned, these QR codes further narrate the stories of these farmers and their journey with Nestlé India.

Links to the TVC:

Tamil: https://www.youtube.com/watch?v=COO4AIWIg0M

Kannada: https://www.youtube.com/watch?v=E6qECr3oy9c

Telugu: https://www.youtube.com/watch?v=FksH0RmsQWA

GTCR And Recognize To Acquire TRANZACT

* Innovative Leader in Insurance Distribution and Marketing Services to be Run by Existing Management Team, including Current President Andy Nelson

GTCR, a leading private equity firm, announced today that it has signed a definitive agreement to acquire TRANZACT, a leading direct-to-consumer insurance services company, in a corporate carve-out from WTW PLC ("WTW", NASDAQ: WTW), a leading global advisory, broking and solutions company. GTCR is investing in TRANZACT alongside Recognize, a technology services investment platform. Andy Nelson, President of TRANZACT, and the existing management team will continue to lead the business and partner with GTCR and Recognize. The transaction values TRANZACT at $632.4 million.

Headquartered in Fort Lee, NJ, TRANZACT provides a full suite of capabilities across marketing and demand generation, sales execution, post-sales engagement and technology solutions. The business currently serves as the platform of choice for several large insurance carrier partners and is the agent of record for over one million active insurance policies across Medicare Advantage, Medicare Supplement and Life & Supplemental insurance markets.

GTCR and Recognize's investment will build on TRANZACT's strong performance and target areas of growth amongst its insurance carrier partners. Together, GTCR, Recognize and TRANZACT will implement a strategy to drive continued innovation, with additional capital available to help fund the expansion and enhancement of its services across this unique customer acquisition platform. As an independent company, TRANZACT will continue to focus on delivering best in class, reliable services and solutions across the insurance industry. 

"We are excited to partner with Recognize, Andy and the talented team at TRANZACT and continue to build on their innovative platform," said David Donnini, Managing Director and Head of Business & Consumer Services at GTCR. "We have known Andy for many years and have always admired TRANZACT and their truly unique, data-driven marketing model for the insurance industry. Over the years, TRANZACT has developed deep, trusted partnerships with some of the industry's most recognized insurers and, along with its strong brand, has positioned itself well to continue to gain share as we look to expand and enhance its offering. Importantly, they have also established a reputation for exceptional service and quality to the end consumers."

"As the insurance marketplace evolves, TRANZACT will continue to play a critical role in helping carriers deliver quality service to their customers and better react to their evolving needs," said David Wasserman, Co-Founder and Managing Partner of Recognize. "We are thrilled with the opportunity to partner with GTCR, and alongside Andy and this management team, which we have known for many years. Their ongoing leadership at TRANZACT will be invaluable as we look to further develop the company's capabilities, particularly their unique and specialized services offerings for the insurance markets."

Mr. Nelson, President of TRANZACT, will become CEO of the standalone business at closing, alongside the rest of the management team who will continue in their current roles. Mr. Nelson has been a senior executive with TRANZACT since 2003, President since 2016, and has spent his entire career in direct-to-consumer marketing and building deep expertise and relationships in the insurance sector.

GTCR has a longstanding relationship with Mr. Nelson, who currently serves as an independent director on the Board of Consumer Cellular, another portfolio company of the firm. Likewise, the Recognize leadership team was part of a group that had previously invested in TRANZACT before it was sold to WTW in 2019 and worked with Mr. Nelson closely during that time.

"Today marks an important milestone in TRANZACT's journey and we are excited about our future together with our new partners at GTCR and Recognize," said Mr. Nelson. "Over the last two decades, the TRANZACT team has worked tirelessly to build a leading insurance marketplace platform, known for quality service and innovative solutions. We are confident that in becoming an independent company, we will be able to continue to meet the needs of our insurance carrier partners and the consumers and drive growth across our business. We are incredibly grateful for the team at WTW for their support of our strategy and their partnership over the past five years."

"TRANZACT is a high-quality business, a leading provider in an area of the insurance market that we have followed for the last several years and know well," said Tom Ehrhart, Managing Director at GTCR. "Along with our partners at Recognize, we believe that TRANZACT's suite of services are well positioned for continued growth across the insurance landscape. Andy and his team are dynamic leaders, and we believe they are the right team to bring this company forward in a new chapter of independent growth."

The transaction is expected to close by the end of 2024, subject to regulatory approvals and customary closing conditions.