Making news: ICE, SRP, Rush Street Capital, Wonolo

Business News | 7 May |

ICE acquires AI assets from Lateral, appoints chief tech officer

International Cruise & Excursions, Inc. (ICE), a leading global provider of travel and lifestyle-based loyalty, rewards and incentive programs, has acquired specific assets from Lateral, Inc., a global technology company with a track record for robust travel solutions. The acquired assets include key personnel and intellectual property related to artificial intelligence (AI) applications in travel and mobile-first software development. 

With this acquisition, ICE adds deep industry expertise to its core platform development that complements the company’s primary discipline of innovative travel and leisure technology.

The addition of Lateral’s highly experienced travel industry experts will facilitate the accelerated delivery of new ICE products, features and functionality, while introducing new capabilities, improved performance and operating efficiencies to the ICE platform. The acquisition will also accelerate the development of international solutions, mobile-first designs, and AI-based technology as part of ICE’s offering to its customers. 

With this partnership, Lateral’s Founder and CEO, Ciprian Morar, takes on the role of Chief Design and Technology Officer at ICE.

“We are delighted to partner with Ciprian and the Lateral team,” said John Rowley, CEO and co-founder of ICE. “With this acquisition and strategic partnership, we are well positioned to accelerate the expansion of our platform and ecosystem globally, while continuing to innovate and create the best-of-breed travel and leisure technology solutions.”

SRP will begin river swap from Verde to Salt system

Salt River Project this week will begin a partial summer river swap operation, with water releases ramping down on the Verde River system while gradually increasing from Stewart Mountain Dam on the Salt River starting today.

Residents using the lower Salt River for recreational purposes should be aware of the increased flows. Between Tuesday and Friday, water releases along the lower Salt River will gradually increase out of Stewart Mountain Dam from 8 cubic feet per second (cfs) to 500 cfs. Releases from Bartlett Dam on the Verde River will be set to meet remaining SRP shareholder demand.

Twice a year, or as conditions warrant, SRP switches river system diversions based on hydrologic conditions, water demand, maintenance requirements, hydrogeneration efficiencies and other factors. Typically, SRP begins utilizing the Salt River system in the spring and then switches to the Verde River system in the fall.

Charlie Ester, SRP’s manager of Surface Water Resources, said the Stewart Mountain Dam releases this week are being made to facilitate effective increased summer water deliveries. Having some of the water demand come from Saguaro Lake on the Salt River allows SRP to more efficiently meet the daily fluctuations of summer water demand. Once Horseshoe Lake has been drawn down to meet the requirements of the Verde River Habitat Conservation Plan, the flow from Bartlett Dam will be reduced – likely in early July — and then nearly the entire water order will come from Stewart Mountain Dam.

The productive 2019 runoff season has brought more than 1 million acre-feet of inflow into the Salt and Verde reservoirs this year, raising the combined reservoir storage to 81 percent of capacity compared to 58 percent one year ago. The partial summer river swap – or switchover — will allow continued use of water to meet SRP demand from the 85-percent full Verde reservoir system to continue drawing down levels at Horseshoe Lake while allowing for operational flexibility to meet higher summer water demand from the Salt River through June.

Rush Street Capital announces expansion

Rush Street Capital, a leading investment bank headquartered in Chicago, has opened a new office in Phoenix, Arizona. The office will be located at 2355 East Camelback Road, Suite 210, Phoenix, AZ 85016.  The new office will allow the firm to better serve its clients, coast-to-coast.

Rush Street Capital has always had a national footprint, serving clients and helping close deals around the country, but this is the first time that the firm has opened a new office outside of Chicago.  The office will allow the investment bank to better serve its clients throughout the United States, but specifically those located on the west coast. 

Rush Street will offer its full suite of products and services from the new office, which will be led by Managing Partner, Phil Kain. The firm is tremendously excited to open this new location in the dynamic and economically-diverse city of Phoenix, which continues to be one of the fastest-growing cities in the country.

Wonolo enters Phoenix market

Wonolo, the leading on-demand staffing platform, officially launched in the Phoenix area (Phoenix, Tempe, Mesa, and Scottsdale) to help businesses fill their immediate labor needs and local residents to find short-term, flexible jobs.

To celebrate the launch, Wonolo’s hosting a happy hour on Friday, May 17, from 4 – 7 p.m. at Copper Blue’s (50 W Jefferson St., Phoenix) when the Phoenix Diamondbacks take on the San Francisco Giants — Wonolo’s home team. Come by for food, drinks, swag, raffle drawings and prizes. To learn more and RSVP, visit: https://wonologamedaycelebration.splashthat.com/

 

 

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