HotViews Archive

Skip Navigation Links.
Collapse 2019 (40)2019 (40)
Collapse January (40)January (40)
Raise awareness of your services and products by promoting them through our Sponsored Posts
22 Jan 2019
Can one Business Cloud Platform Drive Success in Tech?
22 Jan 2019
SDL: pleased with performance at long last
21 Jan 2019
LTI does the business as moots Mindtree move
21 Jan 2019
Draper Esprit finds path to UiPath – and much, much more
21 Jan 2019
Lloyds payments outage hits customers
21 Jan 2019
Wipro adjusts to grow
21 Jan 2019
Goodbye Yellow Pages
19 Jan 2019
Brands2Life Tech Trends 2019
19 Jan 2019
Mark Farrington resurfaces at ECS
18 Jan 2019
IBM allies with Vodafone for IoT/5G push
18 Jan 2019
NIIT Tech gets a 'seven', not a 'ten'!
18 Jan 2019
WNS Q3 improving margins on automation push
18 Jan 2019
Subdued Sophos Q3 predicts FY decline
18 Jan 2019
Backers immerse £2.5m to make Immersive Games real
18 Jan 2019
Do you want to sell your ‘machine intelligence’ solution into the Public Sector?
18 Jan 2019
A unique TechMarketView subscription for individuals
18 Jan 2019
Sluggish US Retail drags Mastek growth and profit
17 Jan 2019
Fiserv to acquire First Data
17 Jan 2019
Tracsis acquires Cash & Traffic Management
17 Jan 2019
Encouraging start for cautious Sage
17 Jan 2019
Announcing 'An Evening with TechMarketView' 2019 Sponsorship Opportunities
17 Jan 2019
Experian stabilises UK Consumer Services
17 Jan 2019
‘Safe sender’ Tessian secures Sequoia’s support
17 Jan 2019
BeMyEye spies Russian buy
17 Jan 2019
Mindtree advances – US surges, Europe stalls
16 Jan 2019
SCISYS concludes spate of space contract contract wins
16 Jan 2019
Tech Talent Charter improving gender diversity in tech
16 Jan 2019
Snap snaps again
16 Jan 2019
Atom Bank takeover rumours circulate
16 Jan 2019
Seeing Machines takes short-term revenue hit
16 Jan 2019
Revenue up 20% at GetBusy
16 Jan 2019
Momentum builds at Actual Experience
16 Jan 2019
Always worth reading the Manual small print
16 Jan 2019
Two Steve’s back Avora again in Series A round
16 Jan 2019
UKCloud expands sovereign cloud platform in the face of Brexit uncertainty
15 Jan 2019
Immersive Labs scoops $8m for cyber training
15 Jan 2019
The Panoply acquires D/SRUPTION for marketing platform
15 Jan 2019
Telit’s turnaround on track
15 Jan 2019
Check Point buys ForceNock for automated security
15 Jan 2019
Are you a Recruitment Agency or Training Organisation that specialises in the Technology Sector?
15 Jan 2019
Enabling the smart city of the future
15 Jan 2019

UKHotViews©

 

Tuesday 22 January 2019

Raise awareness of your services and products by promoting them through our Sponsored Posts

TechMarketView Advertising

Posted by HotViews Editor at '00:00'

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link



Monday 21 January 2019

SDL: pleased with performance at long last

logoThe year end trading update from language services and technology specialist SDL hints that the stablisation evident in H1 continued through the year with CEO Adolfo Hernandez able to say for once that the company was “very pleased with the financial and strategic progress made in 2018”.

Revenue in the £323m-£325m range is expected for the year ending 31 December 2018 which would put growth in the region of 13%, alongside in-line with expectations adjusted EBITA of no less than £28.5m.

SDL was frustrated with 2017 performance but it looks like 2018 has been more satisfying. We’ll have to wait until the full results are released in March to see how much was organic -  the company acquired Donnelly Language Solutions (DLS) for c.£60m in July 2018 – however, encouragingly, management reports that all parts of the business performed well. The work to complete the transformation of the company is ongoing but it looks like 2018 was an improved year with positive developments to build on in 2019 including the acquisition which feeds its language roots and related cross sell opportunities, and the release of its business automation platform. Targets for 2019 include further strategic progress, profit growth and shareholder value.

Posted by Angela Eager at '08:54' - Tagged: software   tradingupdate   automation  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Monday 21 January 2019

LTI does the business as moots Mindtree move

logoMumbai-based mid-tier Indian pure-play LTI (aka Larsen & Toubro Infotech), just seems to keep doing the business, with a cracking 21% constant currency growth in Q3 (to 31st December). Headline revenues grew by 18.2% to $347m, 5.6% higher than the prior quarter’s also impressive result (see Onwards and upwards for LTI). LTI’s operating margins improved for a third successive quarter, reaching 19.1%, over four points higher yoy.

Arguably the more interesting news – or rather, scuttlebutt – appears in today’s Economic Times of India, an organ that usually has its ear very close to the ground. ET moots that LTI is looking to acquire the 21% stake in Bangalore-based mid-tier IPP, Mindtree, currently held by its largest shareholder. Needless to say, all parties are staying schtum. LTI (in)famously failed to acquire IPP major, Satyam, when it was in its death throes after an accounting scandal a decade ago. LTI had already taken a 12% in Satyam but ceded the buy to Tech Mahindra (no, don’t start me on that!) despite having previously recruited then ex-Wipro exec Sudip Bannerjee in anticipation of the deal. Despite Bannerjee’s protestations, LTI didn’t find another ‘marquee’ acquisition (see L and T: If we don’t get Satyam we’ll buy someone else!).

It has to be said that a merger between LTI and Mindtree would have its plus points, potentially creating a $2.3b revenue business, the largest by far among its mid-tier peers. As such, the combined operation would not be far short of the some $3b revenue run rate of the non-telecoms (i.e. ex-Satyam) side of Tech Mahindra, which could also change the dynamic among the Top 6 Indian pure-plays.

More on this in the next edition of OffshoreViews!

Posted by Anthony Miller at '08:34' - Tagged: results   offshore  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Monday 21 January 2019

Draper Esprit finds path to UiPath – and much, much more

logoProlific UK and Continental European tech investor Draper Esprit is increasing its ties with German VC Earlybird via further strategic investments. Having taken a minority stake in the management company of the Earlybird Fund VI in July last year (see Draper Esprit catches Earlybird to grow West), Draper Esprit is to acquire a 27% interest in Earlybird GmbH & Co. Beteiligungs-KG IV (“EB IV” if you’re struggling with the name over your cornflakes) for approximately €63m/£55m, and separately a 5% interest in Digital East Fund 2013 SCA SICAR (“DEF”) for approximately US$20 million (~£16m together). The acquisitions will be financed by a proposed placing to raise £100m at 530p per share, a 12% discount to Friday’s close.

Although Draper Esprit CEO, Simon Cook, views Turkey-founded games developer, Peak Games, and German consumer loan portal, smava, to be the key plays among the eight investments in the EB IV fund, we noted that Draper Esprit will also pick up an interest in US-based robotic process automation (RPA) player, UiPath, via the DEF fund. Arguably the main competitor to the UK’s RPA darling, Blue Prism, UiPath is currently valued at around $3bn, roughly three times Blue Prism’s market cap.

This all looks very smart indeed.

Posted by Anthony Miller at '07:45' - Tagged: acquisition   placing  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Monday 21 January 2019

Lloyds payments outage hits customers

Lloyds Banking Group logoUK customers of Lloyds Banking Group (LBG) were hit by a major systems outage on Friday.  The problems impacted payments transactions and transfers across the group’s Lloyds, Halifax and Bank of Scotland operations.  LBG’s three major high street brands all issued identical statements indicating that that "some" customers were unable to make Faster Payments and that work was underway to resolve the issue. 

The issue appears to have been an internal problem specific to LBG, as no other UK banks reported similar problems on Friday.  Although LBG has not offered any public explanation for the cause of the problems, the group’s websites highlighted that maintenance affecting mobile and internet banking was scheduled to take place between 1am and 6am on Friday morning.

The latest problems at LBG highlight the plight of the major banks.  In the face of increased competition, from nimbler, tech savvy, competitors, the established players are struggling to provide customers with a 21st century banking service.  The back offices of the large, established UK banks are built on outdated technology and remain fantastically complex.  Complexity greatly increases risk, especially when system changes are being made and sometimes there is a price to pay.  Paul Pester, the CEO of TSB, stepped down in September after a final year in charge punctuated by IT failures and major system outages (see Comfy chair for TSB CEO after IT failures?). 

Crucially, the real battleground for the established UK banks is around customer engagement.  Unfortunately, for the likes of LBG, that is the area where the new breed of digital challengers have a significant edge (see Loot:  The FinTech only your kids have heard of?).  Providing an unreliable service and responding slowly to customers in the face of systems outages will only serve to loosen the foundations of the big banks further.

Posted by Jon C Davies at '07:03' - Tagged: financialservices   legacy   banking  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Monday 21 January 2019

Wipro adjusts to grow

LogoOn first sight the Q319 results for Bangalore-based offshore services major Wipro make for encouraging reading. Following a somewhat lacklustre start to the current financial year (see here), a degree of business momentum appears to be returning to the company. Headline constant currency revenue from the IT Services Segment - which comprises over 90% of the global business - for the three months ending 31st December was up 7% yoy to $2.05b. Operating margin more than recovered from last quarter’s “customer settlement” driven dive rising by 480bps to a very respectable 19.8%.

The company has, however, now restated nearly every key metric over the prior 6 quarters to exclude Infocrossing, the data centre business which they sold off in March last year (see here). Unadjusted, the latest quarterly figures would have painted a considerably less rosy picture.

The company’s US activities, which now account for approaching 60% of total sales, was the engine of growth. The top line in this geography increased by nearly 13% yoy. This was supported to a large degree by a surge in demand from the BFSI sector, Wipro’s largest industry vertical, within which yoy revenue jumped by 17.5%.

The picture in Europe was far less positive. Sales in this region were up by only 2.9% over Q318. Given that Wipro UK is the biggest revenue generator in this territory, it is assumed that growth here was of a similar order. This lags a long way behind the 25% yoy top line increase in this country delivered by peer group leaders TCS over the same period (see here).

Looking ahead, the company expects Q4 sequential growth to be in the 0.0% - 2.0% range. Wipro will need to land at the top end of this guidance if it is to avoid ceding further ground to its rivals.

Posted by Duncan Aitchison at '07:00' - Tagged: offshore   resullts  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Saturday 19 January 2019

Goodbye Yellow Pages

Yellow PagesLast week a Yellow Pages book thumped through my letterbox. It went straight into the blue recycling bin. Started in 1883 when a US printer ran out of white paper for a local telephone directory. I now learn that it is the last ever. Maybe I should have kept it to put onto eBay! Yell (the publishers of Yellow Pages) will now be totally on-line. Mind you I don’t think I have ever used Yell either.

NEXT will probably be shown to have been one of the best performing retailers over the Xmas period. See - NEXT delivers relief for a beleaguered retail sector. This was put down to the fact that NEXT had a great catalogue business already AND a presence on the High Street. Online retailers (Amazon etal) are clearly the winners right now. Whereas those that haven’t cracked online (M&S is a good example) are failing. To succeed on the High Street you must have a complementary online presence. John Lewis and PC World are a good examples where I can ‘touch & feel’ the product instore and then order online (for home delivery or in-store collection as I decide)

As any of my Facebook friends will know, my 13-year old car failed its MOT last week and I have been trying to decide on what new car to buy. However much I look at the extensive info available on-line, it didn’t compare with going to the local showroom and sitting in - -then test driving - the model I thought I wanted.  The reality did NOT live up to the online expectation!

Posted by Richard Holway at '14:14'

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Saturday 19 January 2019

Brands2Life Tech Trends 2019

B2LBrands2Life’s Tech Trends Breakfast has been going for 10 years. Indeed I have attended most of them and have been a panellist in years gone past.

GilesThis year B2L co-founder Giles Fraser welcomed Rory Cellan-Jones (BBC), Parmy Olsen (Forbes), Geoff White (BBC& Ch4) and Aliya Ram (FT).

My main ‘takeaways’ this year were:

Voice-activated devices dominated CES. Rory Cellan-Jones was clearly a bit jaded by it all saying ‘I only go to CES so you don’t have to..’ Interestingly saying that Google Home/Assistant was providing ‘stiff competition’ to Amazon.

As readers know - and indeed I reiterated in the Q&A - I just cannot understand why Apple missed out on this market; which is not only huge in the home but will become ubiquitous in cars. This is the first B2L breakfast where Apple hardly got a mention. Interesting in itself.

Autonomous cars are far further away than most pundits suggest. For all the evidence I have seen, I would but agree. I have never believed that you could mix driverless cars on public highways with cars being driven by humans. Rory told an interesting story of a drive he had in a Yandex autonomous vehicle in the US for an upcoming BBC programme. Basically the car would not take any risks which meant that it missed two junctions on a highway because it wouldn’t - like a human would - nudge itself into the correct lane to exit.

PanelHealthTech will be BIG. I really subscribe to that. We’ve already seen Matt Hancock sing from this hymn sheet with Skype based doctor consultations etc. Tech will enable far more patients to be treated either remotely or to stay in their homes rather than taking up hospital or care home beds. Just take a look at what the UK’s Alcove is already achieving. The use of tech in diagnosis is exploding. Indeed one cancer consultant told me he would much rather his MRI scan was looked at by a ‘robot’ than a real person.

The use of tech in early diagnosis is also increasing fast. For example the trials announced today taking place with the Apple Watch as a means of detecting even minor stokes. See USA Today Johnson & Johnson teams with Apple study to help reduce risk of strokes. Of course, this has a downside too as more people will rush to their doctors with ‘false alarms’. But maybe remote consultations (see above) will help take the strain.

Apple WatchAlso Parmy Olsen talked about insurance companies distributing Apple Watches to clients. See Forbes article 18th Jan 19. I find that a bit disturbing as it could lead to all kinds of invasion of privacy with resulting increases in premiums or denial of insurance all together.

Dangers of Facial Recognition and Profiling. Geoff White was pretty unhappy about its potential misuse. Indeed I am too. It is said that in China the facial profile of all citizens are now on a central database and are linked to the huge number of CCTVs in the country.

You may have been asked to take part in the ‘Facebook 10 Year Challenge’ by posting your profile picture from 2009 against your current photo. Sounds like innocent fun? But there is widespread belief that Facebook is building a massive database and associated algorithms on how people age. See Kate O'Neill's excellent WIRED article of 15th Jan 19. This would allow even greater and more accurate facial profiling which again could be open to misuse in the wrong hands.

Distrust of tech. If there was one overall ‘takeaway’ from this year’s B2L’s Breakfast, it was that tech - and the large tech companies it had created - were now mistrusted. Only a few years ago, the consensus was that tech was ‘good’ and provided huge benefits for mankind. Now an increasing number of people believe that social media is ‘bad’ with even the tech leaders themselves not allowing their kids to use it or severely limiting their ‘screen time’. Facebook, in particular, has been found out doing all kinds of things with our data of which users were both unaware and  pretty unhappy.

Do we now believe Amazon’s Alexa doesn’t listen to everything we say? Well, many people don’t.

Do we believe that insurance companies monitoring our driving and general lifestyle will be a good thing? Well, many people don’t.

Do we believe that facial recognition will always be used by governments and other agencies for our benefit? Well, many people don’t.

I could go on.

All great ‘Food for Thought’ and thanks B2L for another excellent session.

Posted by Richard Holway at '11:35'

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Friday 18 January 2019

Mark Farrington resurfaces at ECS

ecsMark Farrington, who was formerly UK&I VP for HPE’s Pointnext business, has resurfaced at Glasgow-headquartered, ECS. Farrington will lead the Enterprise Cloud business, which we estimate accounted for around half of the company’s FY18 £100m revenue line. Its other business areas are Security (including managed services and consultancy) and Digital (which provides DevOps and Continuous Delivery expertise, built on its 2016 acquisition of Forest Technologies).

The ECS Enterprise Cloud business targets FTSE 100 and FTSE 250 companies, particularly those in heavily regulated industries such as financial services and energy, and key customers include some of the UK’s largest retail banks.

ECS is seeing rapid growth from its Amazon Connect contact centre transformation business, and is currently the UK’s largest partner for both Docker and Splunk. It crosses swords with both the large system integrators and smaller ‘cloud native’ players such as Contino and Cloudreach.

The ECS group is growing strongly and this year intends to add 25% to the top line while bringing in more new recruits. Sounds like it’s going to be a busy year for Mark! We wish him well in his new role.

Posted by Kate Hanaghan at '09:40' - Tagged: people   hybridcloud   leadership   DevOps  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Friday 18 January 2019

IBM allies with Vodafone for IoT/5G push

IBM allies with Vodafone for IoT/5G pushNews of a US$550m partnership between IBM and Vodafone Business marks a broader industry push to develop solutions encompassing Internet of Things (IoT), cloud and fifth generation (5G) technology this year ahead of commercial network rollouts in 2020.

The aim of the eight-year collaboration is to find a way to marry Vodafone’s fixed and mobile network infrastructure and software defined network (SDN) capabilities with IBM’s multi-cloud platform, artificial intelligence (AI) and security technology. IBM will also provide a managed service wrap for the two companies’ prospective IoT and business application customers.IBM allies with Vodafone for IoT/5G push

Network providers like Vodafone have a crucial role to play in the IoT ecosystem (see our IoT: Network Providers Push to Supplant IT Services Players report) with the additional reach and capacity delivered by forthcoming 5G cellular mobile networks poised to expand innovation and demand. On the other side of the coin, the vast quantities of data which will be collected and processed by billions of connected IoT devices needs the type of scalable hosting platform that only large cloud providers like IBM can deliver.

No one supplier can deliver or manage the many different elements that make up the IoT value chain. Partnerships are a pre-requisite for success and opportunities abound in multiple vertical sectors – led by automotive, healthcare, smart cities, manufacturing and retail.

IoT has become a key focus for Vodafone as it looks to build on its long heritage of providing machine to machine (M2M) communications solutions to enterprises and offset falling revenue from other parts of its business (see Vodafone shines spotlight on IoT). The partnership with IBM adds impetus and credence to that strategy, and could open doors to new contracts that the operator would otherwise struggle to win.

The joint venture will go live in the first half 2019, and will mimic a start-up by exploring new IoT business cases and enabling the rapid development of suitable vertical-orientated solutions.

Posted by Martin Courtney at '09:32' - Tagged: cloud   jointventure   iot   Vodafone   5G  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Friday 18 January 2019

NIIT Tech gets a 'seven', not a 'ten'!

logoWell, even if “the new normal” didn’t turn out be to be 10% sequential quarterly revenue growth after all (see NIIT Tech declares 10% growth 'the new normal'), there’s hardly anything to complain about with 7%.

This was the result in Q3 (to 31st Dec. 2018) for Noida-based mid-tier India pure-play (IPP) NIIT Technologies, whose headline revenues grew by over 28% yoy to Rs9.72bn (~£135m), 7.1% higher than the prior quarter. What’s more, operating margins (in our model) expanded again, to 15.3%, over two points higher yoy and just under one point up qoq.

Though around half the size of mid-tier IPP peer, Mindtree, NIIT Tech is growing faster, notably in Europe, and is more profitable (see Mindtree advances – US surges, Europe stalls). This is possibly because of NIIT’s narrower focus mainly on the BFSI and Travel & Transport sectors. Europe represents one-third of NIIT Tech’s revenues vs just under 20% at Mindtree.

NIIT Tech CEO, Sudhir Singh, did not repeat his “10% growth” mantra this time round, but remains bullish about the company’s prospects.

Posted by Anthony Miller at '09:13' - Tagged: results   offshore  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Friday 18 January 2019

WNS Q3 improving margins on automation push

WNSSpecialist BPS player WNS ‘s Q3 results saw revenues posted of $195.9m, up 5.8% on the same quarter last year, and up 9.1% on a constant-currency basis. By vertical, revenue growth was broad-based with Shipping and Logistics, Healthcare and Insurance verticals all growing more than 14% year-on-year.

WNS has been focusing for some time on developing a series of industry specific solutions underpinned by a significant investment in RPA and intelligent automation and it appears to be delivering. The automation drive is improving profitability with adjusted operating margins expanding in the quarter to 23%. In addition, the company posted its highest quarter ever in terms of cash from operations.

WNS added four new clients, expanded six existing relationships and renewed 16 contracts citing client appetite for domain-specific BPS solutions. To give you a flavour of what this looks like…….

In the Insurance space WNS has developed the capability to assess difficult claims such as rooftop damage through images captured by drones. It has also launched a digital claims application, used by policyholders or brokers to self-serve claims end-to-end with little or no human intervention. 

In Healthcare, WNS is addressing the management of orthopaedic interventions for knee, hip, shoulder and spine issues and in Utilities it has created a voice-assisted service using Amazon Alexa to manage workflows and customer queries, such as submission of meter readings, payments, account info and FAQs.

Overall another good set of results from WNS. 2019 however looks a tough year for all BPS players and management cited client concerns of global political instability, access to talent and the possibility of a macroeconomic slowdown as a real risk.

Posted by Marc Hardwick at '08:54' - Tagged: results   bps   WNS  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Friday 18 January 2019

Subdued Sophos Q3 predicts FY decline

Subdued Sophos Q3 predicts FY declineAnother subdued quarter for Sophos led the cyber security supplier to predict a “modest” decline in its full year financial performance. A trading statement revealed that its Q3 billings declined 1% yoy in constant currency to $194m.

As in the second quarter when billings rose just 3% yoy, the company’s share value dropped steeply on the news - this time by as much as 24%. Indeed by our calculations Sophos stock is now worth 52% less than it was in August 2018.

Management remain confident that the Abingdon-headquartered firm ’s revamped security hardware, software and service portfolio puts in a strong position to recover its previous momentum in FY20. Sophos executives have always maintained that FY18 would be a hard year to follow due to a boost in enterprise upgrades in the wake of the WannaCry attack and they have been proved right (see Sophos FY18 revenue and billings up 18% yoy).

There were reasons to be positive in the Q3 statement, not least a 122% sequential improvement in customer renewal rates compared to the previous quarter. Subscriptions to Sophos’ on-premise and cloud hosted software solutions increased 15% yoy - just not enough to balance a sharp drop in hardware sales and the negative impact of currency fluctuations. The company also doubled its adjusted operating profit to US$33m and expanded GAAP revenue by 7% yoy to US$178m.

The big question is whether FY19 marks a temporary blip in Sophos’ fortunes or indicates the start of a longer term decline – one that potentially impacts not only the Sophos but other UK cyber security suppliers competing in the same SME market (see our Cyber Security Supplier Prospects 2019 and Beyond report).

Posted by Martin Courtney at '08:54' - Tagged: Q3   cybersecurity   Sophos   tradingstatement  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Friday 18 January 2019

Backers immerse £2.5m to make Immersive Games real

logoAccording the to The immersive economy in the UK report published last year by UK Government innovation body, Innovate UK, there are 1,000 immersive-specialist companies in the UK employing around 4,500 people and generating £660m in sales, potentially representing as much as 9% of the global market. The report forecasts that by the end of 2018, sales could be as much as £1bn, though I have not seen any further substantiation of those numbers.

What is clear is that UK Government has recognised the explosive growth potential in ‘immersive reality’ – a bucket term for a collection of technologies including virtual reality (VR), augmented reality (AR), mixed reality (MR) and haptics (Source: Immersive reality – demystifying UK Government funding opportunities) – and is putting its money (well, our money, I suppose) where its mouth is.

For example, at the end of last year, UK Government awarded the National Film and Television School and Royal Holloway, University of London £10m in funding to set up a National Centre for Immersive Storytelling, a new school for storytelling in VR and AR, known as StoryFutures Academy. Innovate UK is also behind a £33m industrial strategy challenge fund – Audience of the future – to be invested in businesses and researchers to develop new products and services that exploit immersive technologies.

I tell you this to make the point that UK startups are among global pioneers in immersive technologies (e.g. see Augmented funding brings WaveOptics closer to reality), both for industrial and commercial applications as well as gaming.

Which brings me to the headline of this article, that London-based immersive technology gaming startup, Immersive Technologies Lab, has raised some £2.5m in a seed funding round led by Index Ventures, along with Sweet Capital and JamJar Investments (Source: TechCrunch). The product – described as “part indoor theme park, part video game, part escape room” – will be launched early this year.

Posted by Anthony Miller at '08:29' - Tagged: funding   startup   immersivetechnologies  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Friday 18 January 2019

Do you want to sell your ‘machine intelligence’ solution into the Public Sector?

Then don’t miss this opportunity to become a Civica Innovation Partner!

logoTechMarketView will be running the third event in the TechMarketView Innovation Partner Programme series in March 2019 in association with Civica Innovation Partners, the new initiative announced by Civica, the UK’s leading supplier of business-critical software, digital solutions and managed services to the public sector and regulated markets and among the fastest growing of its kind.

Civica is looking for partners with an innovative solution in areas of “machine intelligence”, including: Analytics; AI; Automation and Connected Devices. Civica is interested in solutions which have been developed for use in any sector that can be applied to solve the challenges faced by its public sector customers.

Why partner with Civica?

logoOne of just a few UK tech 'unicorns', Civica has established itself as a leading technology partner for organisations globally, and has an enviable track record in providing the digital technology, cloud software and automation behind everyday services for over 100 million people.

Civica works with more than 3,000 major customers in 10 countries around the world, including national and local government organisations, health & care providers, social housing organisations and schools, as well as commercial enterprises. The Group’s software underpins critical services, supporting over two million professionals in their jobs and administering over £100 billion annually.

Eligibility criteria

You should be the founder or CEO/MD of a privately-held, UK tech company with revenues of less than £10m p.a. with an innovative solution in areas of “machine intelligence”, including:  Analytics; AI; Automation and Connected Devices. At a minimum, your technology solution must have been successfully deployed to at least one customer and is now ready to scale.

Qualification process

TechMarketView and Civica will be running a Pre-Qualification Session for potential partners in March 2019. If you believe your company fits the eligibility criteria, we strongly encourage you to apply. If your application is successful, you will be invited to London to discuss your proposition under non-disclosure terms with representatives from Civica and TechMarketView.

If you are subsequently selected as a Civica Innovation Partner, you will have the opportunity to work with Civica's business development teams to create joint propositions to offer to its extensive public sector customer base. You will also benefit from technical support from Civica’s technology community of over 1,500 people as well as marketing support for future collaborations.

Deadlines and further information

Applications must be submitted on this webform by Friday 8th February 2019. Applicants will be notified if their application has been successful by Friday 22nd February. There is no charge to apply for or, if accepted, participate in a PQS.

You can find more information about the TechMarketView Innovation Partner Programme along with Frequently Asked Questions on the TechMarketView website HERE and further information about Civica Innovation Partners HERE

If you have any other questions, please email tipp@techmarketview.com or call TechMarketView Managing Partner Anthony Miller on 020 3002 8463.

Please note that Civica is not looking to provide cash funding or to take equity in your business as part of this programme.

Posted by HotViews Editor at '07:00'

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Friday 18 January 2019

A unique TechMarketView subscription for individuals

UKHotViewsPremium Banner

Posted by HotViews Editor at '00:00'

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Thursday 17 January 2019

Sluggish US Retail drags Mastek growth and profit

logoMumbai-based mid-tier Indian pure-play Mastek presented another set of creditable quarterly results, belying a struggle for growth in North America, the seat of its retail activities established through the acquisition of Dallas-based (and offshore-enhanced) Oracle Commerce and CX consultancy, Trans American Information Systems, just over two years ago (see Mastek does Dallas with TAIS).

Mastek’s headline revenues for Q3 (to 31st Dec. 2018) grew by 26.5% yoy to Rs2.65bn (~$37m), an increase of 3.1% over the prior quarter, and representing 18.5% yoy growth in constant currencies. Mastek improved operating margins to 11.2% after a dip the prior quarter.

Mastek’s growth was almost entirely driven by its UK business, up nearly 40% yoy (+6.8% qoq) to Rs1.99bn (~£21.5m). Growth was boosted by a recent extension to a contract with the Home Office (see Mastek expands Home Office footprint).

In contrast, North American revenues declined by over 6% qoq to Rs0.62bn, basically flat yoy. Growth has been volatile at TAIS and the numbers suggest that all the wheels of the business are not necessarily spinning in the same direction at the same time. TAIS was a big bet for Mastek management and it looks like the bet is not yet paying off – indeed TAIS’ profits have also been volatile and the unit fell into loss this quarter. Attention is suggested!

Posted by Anthony Miller at '12:04' - Tagged: results   offshore  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Thursday 17 January 2019

Fiserv to acquire First Data

fisGlobal payments technology giant, Fiserv, has announced that it is set to acquire payments processor First Data for $22bn, in a move that would constitute a genuine industry “Mega Deal”. The all stock deal is at a premium of nearly 30% over First Data's closing price on Tuesday.

Since it was founded in 1984, Fiserv has grown into a major global banking and payments software and IT services provider, predominantly by serving tier 2-4 players (see Understanding the legacy issues facing banks). Fiserv has around 24,000 employees worldwide and global revenues of c$6bn.  In 2017, Fiserv acquired UK based Monitise (see Last Knockings for Monitise) and incorporated that business into its EMEA operations, headquartered in Slough. In the UK, Fiserv clients include, Virgin Money, Tesco Bank, Birmingham Midshires, Atom Bank and ThinkMoney.

Founded in 1971, First Data is of broadly similar scale to Fiserv, with around 23,000 employees and global revenue of c$13bn. First Data is the largest provider of merchant issuing and acquiring services worldwide with more than six million merchants utilising its point of sale (PoS) and card payment systems and services. 

The payments sector is changing fast and the sources of revenue for companies such as Fiserv and First Data are changing as traditional power bases are eroded. The rise of the FinTechs and the importance of rich, transactional data are also a factor here. Despite their scale, just like the banks, both Fiserv and First Data must look to evolve their business models to ensure long-term prosperity.

If completed, the deal would be one of the largest ever within global financial services technology and is indicative of the transformation that is taking place across the wider financial services industry. Consolidation amongst the larger, established technology players seems increasingly likely over time, in the face of shifting market dynamics and the growth of a whole ecosystem of smaller more nimble providers.

Posted by Jon C Davies at '10:10' - Tagged: acquisition   payments   banking  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Thursday 17 January 2019

Tracsis acquires Cash & Traffic Management

tracAIM-listed traffic and transport data services provider, Tracsis, has acquired Coventry-based Cash & Traffic Management Ltd (CTM). CTM provides event traffic planning, admission control, and a range of other event-related services.

The acquisition consideration comprises an initial cash payment of £1.3m, followed by an additional payment of c£400k to reflect the net current asset position of the business. An additional contingent consideration of up to £700k is payable subject to CTM achieving certain stretch financial targets within the next two years. In the year ended 28th February 2018, CTM generated revenue of £5.5m, and a normalised Profit before Tax of £300k.

Tracsis goes to market via two main offerings: Rail Technology & Services and Traffic & Data Services (with its overall aim being to solve complex data driven problems). We see a good opportunity for Tracsis to cross sell between the latter and CTM, which claims to have strong customer retention. In November Tracsis announced its full year results, with good organic revenue growth in markets that continue to show potential.

Tracsis is currently on-boarding a new CEO, via what appears to be a well-planned process.

Posted by Kate Hanaghan at '09:47' - Tagged: acquisition   data   rail   traffic  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Thursday 17 January 2019

Encouraging start for cautious Sage

logoThe first quarter of its new fiscal year proved to be an encouraging one for Sage Group as it reported 7.6% organic revenue growth on the back of sales of products related to the all-important Sage Business Cloud.

The latest trading update shows group level revenue of £465m in the quarter ending December 31 2018. Within that recurring revenue increased 10.5% to £387m, supported by 27.7% growth in subscriptions to £237m. These positive indicators continue the movement seen at end of the previous fiscal year, although they come off a comparatively weak YoY comparative (see here).

There was good news in terms of recovery within the UK and Ireland, where revenue grew 5.9% to £96m, including double digit recurring revenue growth driven by Sage 50 cloud connected migrations. Making Tax Digital also provided a boost, helping with both Sage 50 reactivations and cloud connected migrations. There should be more to come because Sage estimates Sage 50 migration is around halfway through in the UK with about a year to run, while Sage 200 migration is just getting started. Making Tax Digital is a one-time opportunity that Sage needs to make the most of against rising competition from Xero.

Q1 is traditionally a weak quarter; the better performance in the most recent period is an encouraging indicator of the focus on recurring revenue. In the reverse of the usual trend, H1 is expected to be stronger than H2 due to the phasing of recurring revenue. This can be positively interpreted, illustrating the focus across the business to accelerate the move to the cloud and subscriptions. However, management did stress that progress is unlikely to be linear and although pleased that the company was off to a strong start stressed there was still a lot to get through this year, there are lots of moving parts, so emphasised it was important not to get carried away.

Part of the FY19 three-point cloud programme is to simplify the portfolio. The sale of US-based Sage Payroll Solutions to iSolved HCM for £78m this week marks the first step. The divestment of the unit that reported an operating loss of £1m on revenue of £38m in the last FY had been previously announced but the sale means there is one less distraction for management and additional funds to reinvest.

Posted by Angela Eager at '09:46' - Tagged: saas   cloud   software   divestment   tradingstatement  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Thursday 17 January 2019

Announcing 'An Evening with TechMarketView' 2019 Sponsorship Opportunities

The seventh annual ‘Evening with TechMarketView’ will take place on the 12 September 2019 at the Royal Institute of British Architects in London. We can’t wait to welcome more than 200 leaders from across the UK tech scene to the unmissable evening event, which includes a drinks reception, analyst and guest speaker presentations and a three-course dinner.  And what better focus for the evening than our research theme for 2019 - The Year of the Relationship: Extend. Evolve. Optimise.

Sponsorship BrochureOur flagship annual event, the Evening with TechMarketView presents a range of benefits for sponsors too including: 

·     Thought leadership at the highest levels – the event attracts senior execs from across the tech scene 

·     Brand value across the sector – the event is promoted widely on UKHotViews & Twitter reaching more than 20,000 UK tech leaders 

·     Lead & partnership generation opportunities – engage directly with key individuals. 

By early engagement, supporting organisations achieve maximum exposure through continuous promotion in UKHotViews and on social media. Our options also include generous ticket allocations and advertising packages. 

For 2019, there are a range of sponsorship packages available including:

·     DIAMOND (exclusive) - our lead sponsor, demonstrate thought leadership with the exclusive speaking slot at the beginning of the evening

·     RUBY (two available) - our drinks reception and dinner sponsors, two high profile branding opportunities 

·     SAPPHIRE (multiple available) - perfect for anyone looking to raise their visibility 

·     LANYARD (one available) – designed to increase brand recognition in the tech space.

For more details on the event and associated sponsorship opportunities download a copy of the Sponsorship Brochure today or email Sarah Robinson in our Client Services team with any queries.

Posted by HotViews Editor at '09:00'

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Thursday 17 January 2019

Experian stabilises UK Consumer Services

ExperianQ3 update from information services provider Experian for the period ending 31stDecember, has the business overall delivering organic growth of 9% (at constant exchange rates) and total revenue growth (at actual exchange rates) of 5%. 

Different geographies are growing at different speeds with Experian’s North American operations taking the lead booking organic growth of 12% across both the B2B and Consumer Services segments for the quarter. 

In the UK and Ireland, total and organic revenue growth was 3% with B2B continuing to perform much better than Consumer Services. Here, organic revenue growth across B2B was 4%, driven by new business wins, pre-qualification and data aggregation services (the Runpath acquisition). There was also growth in decisioning software and fraud prevention, including new wins for CrossCore. 

The recent decline in the UK&I Consumer Services business has moderated to -1%, with growth in credit marketplace referral fees helping offset lower credit monitoring revenues. The future performance of the segment remains entwined with the outcome of the proposed Clearscore acquisition.The Competition and Markets Authority’s (CMA) negative provisional finding in November was definitely a big blow to the business. The CMA has now taken views on its provisional findings and will issue a final decision by March. 

Experian also reaffirmed its targets for the year.

Posted by Marc Hardwick at '08:55' - Tagged: results   software   FinTech  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Thursday 17 January 2019

‘Safe sender’ Tessian secures Sequoia’s support

logoLondon-based email security startup Tessian, has closed a mooted $40m Series B funding round, according to sources alluded to by TechCrunch. Founded in 2013 as CheckRecipient, Tessian raised £9m in a Series A round in June last year (see 'Safe sender' Tessian checks in £9m more funding). The new round is said to be led by Sequoia Capital. Tessian co-founder, Tim Sadler, was a winner in the ‘Young Entrepreneur’  category at last year’s annual Enterprise Awards Dinner (see Tech industry 'Oscars' an outstanding success).

Email security is a crowded market, and Tessian is competing against well established suppliers such as Mimecast (see Mimecast FY18 revenue up 38%) and ProofPoint which have seen strong revenue growth in recent years. But Sequoia’s support is a significant vote of confidence in Tessian’s potential.

Posted by Martin Courtney at '08:32' - Tagged: funding   startup   cybersecurity  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Thursday 17 January 2019

BeMyEye spies Russian buy

logoAcquisitive London-headquartered retail shop spy service, BeMyEye, has set its sights on Russia and the CIS countries with the acquisition of Russian peer, Streetbee. Terms were not disclosed, though the ever-vigilant Steve O’Hear at TechCrunch mooted an all-share deal.

Founded in 2011, this is BeMyEye’s third acquisition since its Series B funding round in May 2016 (see BeMyEye spies €6.5m and acquires), which was followed by the acquisition of UK competitor, Task360 this time last year (see BeMyEye spies growth with Task360).

In a nutshell, BeMyEye pays members of the public to visit retailers and gather information (including photos) on behalf of brands to ensure correct in-store product placement. Streetbee apparently adds image recognition technology to BeMyEyes service, so that images snapped on spies’ (they call them ‘Eyes’) smartphones can be more quickly interpreted.

All sounds very cloak-and-daggerish to me, but I suppose all’s fair in war and retail.

Posted by Anthony Miller at '08:02' - Tagged: acquisition  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

Mindtree advances – US surges, Europe stalls

LogoBangalore-based mid-tier Indian pure-play Mindtree backed up its Q219 performance by delivering another quarter of strong growth coupled with margin expansion.

Mindtree's headline revenues in Q3 (to 31st December) increased by almost 30% yoy in Rupee terms to Rs17.87bn translating to 17.4% yoy growth in US dollar terms to $251.5m. Operating margin, at 13.6% (in our model), was 50 bps better than the prior quarter and maintained the upward trajectory displayed so far this year.

Mindtree's US business was once again the star of the show. Quarterly turnover in this region rose by just shy of 25% yoy to $185m and now accounts for almost three-quarters of firm-wide revenue. Conversely, the sluggishness of demand in Europe persisted. Last quarter’s qoq dip in sales was presumed to be a glitch (see here). Although Q319 European top line inched ahead by 1.5%, the quarterly revenue run rate remains below that at which the geography exited FY18.

Overall, however, Mindtree’s results point to a business in good shape. The company’s senior management is confident that the pace of expansion will continue through the end of the FY. More good news is to be expected in three months’ time.

Posted by Duncan Aitchison at '16:51' - Tagged: offshore   resullts  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

SCISYS concludes spate of space contract contract wins

SCISYS logoAfter last night’s Parliamentary fiasco, it feels good to be able to report on a European contract win by a UK born-and-bred company (albeit a win by its German subsidiary – see SCISYS protects itself against BREXIT). The win is yet another by SCISYS related to a project funded by the European Space Agency (ESA). Others over the last few weeks can be investigated here (SCISYS space wins keep rolling in) and here (SCISYS restructuring decision vindicated with Galileo win).

Today’s announcement is of a contract with AIRBUS Defence and Space for the development, integration, verification and maintenance of the EGNOS V2 Performance Assessment Facility (PAF) – a satellite-based augmentation system designed to improve positioning accuracy. SCISYS' Space division in Germany will provide a solution for the PAF to enable detailed performance monitoring of 40 ranging and monitoring stations. The total contract value is expected to be €1.32m, with delivery commencing in January 2019 and expected to last until July 2025. According to CEO, Klaus Heidrich, this win concludes the recent series of Space contract wins; together they have proven that SCISYS has been able to protect its EU-funded work.

Posted by Georgina O'Toole at '10:05' - Tagged: contract   it+services   ApplicationServices   space   brexit  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

Tech Talent Charter improving gender diversity in tech

TTC19Yesterday saw the launch of the Tech Talent Charter’s inaugural report on gender diversity in tech atop the iconic Gherkin building in London. TechMarketView is proud to be one of the nearly 300 organisations large and small that have signed up to the Tech Talent Charter in its first year, undertaking to drive greater gender diversity in tech roles. 

The Tech Talent Charter benchmarking analysis shows that signatories to the charter are more gender diverse than average with 26% of tech roles held by females, compared to the reported UK average of 19%. Interestingly, smaller businesses lead the way with micro businesses at 53% women, SMEs averaging 20-23% and larger companies at 19%.

In other words, as Tech Talent Charter CEO Debbie Forster MBE said yesterday, “there is no reason to think that a company is too small to think about diversity”. Indeed, genuine flexible working and a supportive culture have a strong role to play in making the tech workplace more appealing to women, and this is perhaps easier to achieve in smaller or newer businesses (including TechMarketView of course!). Larger organisations are making huge strides too though and it was great to hear practical examples yesterday from a mix of businesses about what they’ve done to improve recruitment, retention, returning and reskilling of women in tech roles. 

TechMarketView subscription clients, including our growing band of UKHotViewsPremium subscribers, can read more in UKHotViewsExtra today here.

And everyone can download the Tech Talent Charter report or find out more about signing up to the charter to push for greater diversity in tech here.

Posted by Tola Sargeant at '10:04' - Tagged: diversity   womenintech  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

Snap snaps again

Will Snap, like its messages, disappear?

SNAPI’ve been following Snap (or SnapChat as it was once called) for many years. Maybe it was because I could always use a variant of Snap, Crackle and Pop in the headlines. See Fri 3rd Mar 17 - Snap pops but when will they crackle? and work forward to the many variations on the breakfast cereal theme!

Snap was a hit with teenagers who loved that their messages (and dodgy photos) disappeared within a few seconds. In 2016, Google - who really wanted a Facebook-like social platform of their own - were widely rumoured to have offered $30b for Snap. But Snap was determined on an IPO which they completed on 2nd Mar 17 at $17 a share. The shares popped to $24.5 on the first day giving them a valuation of $28b.

Since then the Crackle went away and Snap has well and truly snapped.

Yesterday Snap shares dropped by another 8% to just $6.5 as its CFO - who had only been in the role for 8 months - departed. So Snap’s value has crashed from $28b to just $8.5b in less than 2 years. The CFO joined a long  list of Execs who have left since the IPO.

The problem with Snap is the declining growth in its userbase. It committed the cardinal sin of surprising the market with its maiden results in May 17 showing an amazing $2.2b loss. Its ‘spectacles’ product has been a flop. It hadn’t helped itself by redesigning its user interface in early 2018 which upset many loyal users. On top of that, at every turn Facebook (particularly via Instagram) copied its new features. Stories is one such example. Then there is a general feeling that we may have witnessed ‘peak social media’ amongst the young.

I don’t think I - or many others - will shed a tear even if Snap - like its messages - disappears.

Posted by Richard Holway at '10:01'

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

Atom Bank takeover rumours circulate

atomAccording to reports, UK challenger bank Atom may be poised for takeover by Spanish bank BBVA.

Sky News has revealed that Atom is seeking advisers in light of the potential takeover and is in talks with Citi to discuss its options. App-based Atom Bank has no physical outlets and has currently attracted around £1.3bn in customer deposits in the UK.

In 2018, Atom Bank raised £149m from a group of investors led by BBVA (see: IndustryViews Venture Capital Review Q1 2018).  The move coincided with the departure of Anthony Thompson, the charismatic co-founder of Atom Bank (also co-founder of Metro Bank) who spearheaded its launch in 2016. BBVA now owns around 40% of Atom.

This latest move is an intriguing development in the evolution of the challenger banks in the UK.  BBVA is one of Europe’s most innovative banks, having itself transformed into a customer centric digital bank, built with Accenture’s Alnova banking technology platform at its core.

Highlighting the transformation imperative in banking and how it aims to compete in the new digital ecosystem, BBVA Executive Chairman Francisco González has previously stated that “BBVA will be a software company in the future”.

It will be interesting to see what BBVA has planned for Atom and whether the takeover heralds a significant push into the UK by Spain’s second largest bank.

Posted by Jon C Davies at '09:58' - Tagged: acquisition   banks   banking   challengerbank  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

Seeing Machines takes short-term revenue hit

Seeing Machines logoAustralian headquartered, but AIM listed, Seeing Machines had been growing strongly (see Seeing Machines: The vision to drive strategic change), with revenue increasing by 117% in its last financial year. Performance in H119 (six months to 31st Dec 2018) highlights the challenge it has had adjusting the business to meet rising demand. The company expects revenues to be down c8% to A$13.5m compared to H118. This follows the review of its Fleet business – its biggest revenue generator – and is in line with management expectations.

Seeing Machines describes itself as “the advanced computer vision technology company that designs AI-powered operator monitoring systems to improve transport safety.” Across its four divisions it has a focus on Automotive, Aviation, Fleet and Mining & Rail. Across all sectors, there appears to be strong momentum building with evidence of increased demand for its products and a positive outlook. For example, in automotive, mandatory driver monitoring for cars, vans, trucks and buses looks set to be introduced in Europe and North America, resulting in increased interest in the company’s Driver Monitoring System (DMS). And in aviation, the Group’s eye tracking technology is creating traction in commercial deals as the industry seeks to improve training.

The H1 downturn in revenues is all down to the ongoing transformation of the Fleet business. A new leadership team has initially focused on cost reduction and on honing the direct sales focus on profitable geographic markets and industry categories. Good progress has been made. Now, Seeing Machines executive team must keep a close eye on technological progress and continue to align its investments accordingly; one observation in this trading update is of “prioritisation at CES of semi-autonomous Level 2 and Level 3 driving technology, whilst the introduction of fully driverless vehicles at Level 4 and Level 5 is now anticipated to be much further away than the industry had predicted…”.

Posted by Georgina O'Toole at '09:47' - Tagged: trading   transport   automation   AI   automotive  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

Revenue up 20% at GetBusy

GetBusy logoFollowing a solid H1, momentum continued to build at document management software supplier GetBusy plc during the second half of the year (see Momentum in evidence within GetBusy at half year point).

Today’s trading update for the year ended 31 December 2018 states the business expects total revenue to be up c.20% to £10.9m on a constant currency basis. Recurring subscription revenue was up 22%, with growth in the UK increasing by 17%. Adjusted EBITDA is expected to be in-line with expectations.

GetBusy has three core product offerings: Virtual Cabinet, its document management solution of medium size to enterprise size customers; SmartVault, its document management product aimed at SMEs; and GetBusy, its new client chat and productivity product.

During the year it has been migrating SmartVault from self-managed servers to Amazon Web Services, which GetBusy says will improve the speed, reliability, security and scalability of the product. It also launched the public beta for its GetBusy client chat and productivity app in December.

2019 will see the business focus on building subscription revenues from SmartVault and Virtual Cabinet, and increasing the number of beta users of its GetBusy app to aid product development. We will get further details when full results are published on 05 March 2019.

Posted by Dale Peters at '09:45' - Tagged: results   saas   documentmanagement   productivity  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

Momentum builds at Actual Experience

LogoBath-based Analytics-as-a-Service provider Actual Experience plc has delivered an encouraging set of results for FY18 (the twelve months to 30th September). Turnover tripled yoy to £1.08m on the back of the company’s the first full-scale deployment of its offerings. A second significant engagement was also closed and it will generate substantial revenue during FY19. Both wins were secured through Actual Experience’s channel partners upon which the company now rely as its primary sales engine.

Annual Recurring Revenue was up to £1.6m at year end. This figure has since further increased to £1.8m as at December 2018. The loss for the year was down marginally (2.5% yoy) to £7.2m, driven in part by continuing investment in product development and operational processes.

The progress made during 2018 helps validate Actual Experience’s channel strategy, which has entailed significant investment in automation and support to make it easier for partners to integrate the company’s technology into their offerings. The two recent large wins goes some way to supporting the company’s estimate of average annual revenue of $500k per enterprise customer. As we’ve commented previously, Actual Experience has a good offering (see here). Several more significant deals are, however, still needed for this estimate to be proved.

The company believes that its market has reached an inflection point. It is sensing that customer reticence to invest at scale in digital brand protection is now waning. Actual Experience is confident that the two large engagements secured in FY18 mark the start of a growing pipeline of deals and it expects to see the number and rate of deployments increase gradually throughout the current year. We will watch the progress that the company makes over the next nine months with great interest.

Posted by Duncan Aitchison at '09:33' - Tagged: saas   analytics   results.  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

Always worth reading the Manual small print

logoAt first blush, newly-launched London-headquartered startup Manual looks like a well-being website for younger men especially concerned about their hair and, shall we say, 'performance'.

But did you spot the little icon at the bottom right on their home page? Click on it and it takes you to the UK register of authorised sellers of medicines (MHRA), confirming that Menwell Limited (the registered name for Manual) is authorised to sell prescription-only medicines as well as over-the-counter medicines.

Now take a look at the small print in Manual’s T&Cs. This explains that if you want to order a prescription drug, they provide an online ‘medical consultation’ (read ‘questionnaire’) to assess your suitability – and once you have submitted your questionnaire, “you can no longer cancel this service”. You have go to the FAQ section to find out that what you have signed up for is a three-month contract for Manual to send you the drugs every month. Helpfully, the FAQ also tells you what to do in case of an emergency: “please call 999 immediately”.

I tell you this as Manual has proudly announced a £5m seed funding round, backed by Felix Capital, Cherry Ventures and Cassius Capital.

Of course, now that I have had a good look at its website, I suspect Manual’s cookies will ensure I will now start seeing ads offering me helpful hints for all aspects of my personal well-being. Unfortunately, it’s rather too late to do anything about my hair.

Posted by Anthony Miller at '08:52' - Tagged: funding   startup  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Wednesday 16 January 2019

Two Steve’s back Avora again in Series A round

logoDr Steve Garnett and Stephen Kelly, both carving out roles as angel investors since serving time at the top of well-known enterprise software firms, have increased their investments in London-based enterprise analytics platform, Avora, as part of a £5.1m Series A round led by Albion VC and existing investor Crane. Founded in 2014, Avora had previously raised £1.5m in December 2017 (see Avora's next gen BI service secures funding). Avora plans to use the funds to launch in the US and for further product development.

Posted by Anthony Miller at '07:59' - Tagged: funding   startup  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Tuesday 15 January 2019

UKCloud expands sovereign cloud platform in the face of Brexit uncertainty

logoIn a move that coincides with Tuesday’s crucial vote in parliament, UKCloud has announced that it is making increased capacity available on its UK sovereign cloud platform, to support its public sector clients in the face of Brexit uncertainty.

UKCloud provides secure cloud hosting for public sector workloads, via services hosted in UK datacentres and is seeking to mitigate the potential disruption that may lie ahead whilst ensuring that it is well placed to benefit from potential opportunities.

UKCloud recently celebrated seven years of growth (see UKCloud: Responding to a changing market). The announcement by UKCloud and its timing, highlight the potential market opportunity for SITS providers in the UK, amidst the uncertainty of Brexit. This opportunity is of course not restricted to the public sector, as organisations across the spectrum are making contingency plans.

TechMarketView’s own Brexit research has highlighted the numerous systems in the UK that will need updating in line with Brexit requirements (see Public Sector Predictions 2019). UKCloud appears to be hoping that there is a further market opportunity around applications currently running on non-UK environments that may be brought back onto UK soil. Whether the imperative for such a move is real or perceived, it will be interesting to see whether this patriotic messaging from the UK based providers such as UK Cloud, helps to stimulate demand.

Posted by Jon C Davies at '09:51' - Tagged: public+sector   cloud   iaas   hosting   infrastructureservices  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Tuesday 15 January 2019

Immersive Labs scoops $8m for cyber training

Immersive Labs gets $8m for cyber wargame trainingCyber security start-up Immersive Labs received a large US$8m slice of Series A funding led by Goldman Sachs and other private investors.

Founded by ex-GCHQ security researcher and instructor James Hadley in 2017, the Bristol-based firm offers a different take on cyber security training and counts companies such as BAE Systems, Sophos and Grant Thornton as customers.

Rather than classroom-based learning the company uses gamification and real-time attack feeds to quickly teach new skills in response to the latest threats.

With the current cyber skills shortage set to continue, many companies are looking for ways to turn staff and recruits with IT rather than security skills into cyber professionals as quickly as they can.

Immersive Labs will use the funding to take on more people, develop its platform further and expand its go to market strategy.

Posted by Martin Courtney at '09:40' - Tagged: funding   cybersecurity   ImmersiveLabs  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Tuesday 15 January 2019

The Panoply acquires D/SRUPTION for marketing platform

The Panoply logoThe Panoply Group is continuing as intended with its second acquisition since its flotation on London’s AIM market (see The Panoply to float on AIM and The Panoply quick to secure first acquisition). However, on this occasion there is a different flavour to the buy.

In taking D/SRUPTION into the fold, The Panoply is getting its hands on a marketing platform for its Group of companies (a Group that will expand over time). The Panoply's overall strategy is to bring together a group of digital services companies with the aim of leveraging the scale and financial strength of the company and start winning larger contracts. But the Group knew it would need to develop a marketing platform in order to raise awareness of its capabilities amongst decision makers. In acquiring, rather than developing its own, The Panoply states it will have saved vast amounts of time and resource.

Where I’m struggling a bit is with the shape that this marketing platform takes. D/SRUPTION is a “thought leader, which currently reaches senior management within many large organisations involved in digital transformation through its magazine, newsletter, research papers and events”. The Panoply intends to leverage content, sponsorship and advertising at limited or no cost. Immediately, worries about the integrity and independence of D/SRUPTION, once ensconced within a supplier organisation, jumped to mind. Clearly its something that The Panoply has thought about too; the Group states that “to preserve integrity and maintain the high level of quality content it currently creates, D/SRUPTION will retain editorial independence”.

So, I ask myself the question, ‘if TechMarketView was to be acquired by an IT services provider, would our subscribers be convinced that our view was independent (no matter how many ‘Chinese walls’ were put in place)?’ I just can’t believe they would. If that’s the case, would D/SRUPTION survive? Only time will tell. Building up an internal thought leadership engine within an IT services company is all very well and good but benefiting from it commercially is another thing entirely.

The Panoply will pay an initial consideration of £50K in shares through the issue of 57,142 ordinary shares in the Panoply at a price of 87.5p per share. There is also a potential earnout (to be received between April 2019 and March 2023), with the total consideration capped at £3.6m.

Posted by Georgina O'Toole at '09:30' - Tagged: acquisition   sme   M&A   digital  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Tuesday 15 January 2019

Telit’s turnaround on track

LogoAIM-listed Internet of Things (IoT) specialist Telit Communications enters 2019 in considerably improved health. The strengthening business position evident at the FY 18 mid-year point (see here) continued build during through the second half. The company now anticipates that revenue for the twelve months ended 31st December 2018 will grow by 14% yoy to $427m with Cloud and connectivity revenues increasing by more than 20% to $33.5m. Adjusted EBITDA is expected to be in line with previous guidance at between £30m-$35m, up from $18.1m in 2017 and reversing the 66% slump experienced in the prior FY.

Chief Executive Yosi Fait has orchestrated significant strides forward for the business during his first four months in post. Management has been completely overhauled, a restructuring process which shaved US$10m off cash expenses has been executed, and efforts have been re-focussed on the company’s core industrial IoT capabilities. Telit has also negotiated the sale of its automotive division, which makes communications chips for connected vehicles, to Hong Kong-based TUS International for $105m (see here). This transaction will complete by the end of month.

The company is optimistic about the business outlook and believes that its financial performance will improve further in 2019. Based on this latest trading update Telit’s confidence would seem well founded. Full 2018 results are expected to be published in March.

Posted by Duncan Aitchison at '09:21' - Tagged: iot   connectivity   results.  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Tuesday 15 January 2019

Check Point buys ForceNock for automated security

Check Point buys ForceNock for automated securityCheck Point’s acquisition of Tel Aviv-based security start up ForceNock brings additional machine learning and behavioural security expertise to the Israeli company’s ranks as it races to simplify security management and configuration for its customers.

Terms of the deal were not disclosed but ForceNock’s technology will be integrated within Check Point’s Infinity architecture, a platform designed to provide a blanket of cyber protection across networks, endpoint, cloud, mobile and Internet of Things (IoT) devices and systems.

Founded in 2017 by five former F5 Networks, Check Point and McAfee employees, ForceNock’s Web Application and API Protection (WAAP) solution is big on ease of use and management. It is designed to allow companies with no resident security expertise to automatically configure their own web application firewall (WAF), API and bot mitigation defences.

TechMarketView has noted an increasing emphasis on security management automation amongst suppliers as they look to alleviate the growing burden of configuration and administration on hard pressed IT departments (see our Cyber Security Market Trends & Forecasts to 2021 report).

Rather than being a “nice to have”, that ease of use and deployment is now becoming a major point of differentiation, partly driven by a continuing cyber skills shortage. We wait to see how quickly the ForceNock technology can be integrated into Check Point’s product and service portfolio and if the solution can help drive additional sales in the SME/SMB sector it targets.

Posted by Martin Courtney at '08:39' - Tagged: acquisition   cybersecurity   CheckPoint   ForceNock  

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link


Tuesday 15 January 2019

Are you a Recruitment Agency or Training Organisation that specialises in the Technology Sector?

Advertise with us to drive lead generation

We attract a high calibre audience including SITS players and support firms, Government & CIOs, Local Government & investors and we have above industry average click through rates reaching over 20,000 readers per month.

You can advertise your services, industry whitepapers and more and we can tailor advertising packages for your needs. 

TMV AdvertisingSponsored Posts are embedded within the newsletter (identified by a coloured background) and they are up to 250 words in length and can include up to two images and links to landing pages, social media and other contact details. They are sent out in one daily UKHotViews newsletter, as well as being published to our website for 7 days and also sent out on our Twitter stream. Gold and Silver banners can also be positioned at the top and bottom of both the newsletters and webpages. 

For pricing and further information on how you can advertise through TechMarketView, please contact us on info@techmarketview.com.

Posted by HotViews Editor at '00:00'

Add a comment Add a comment Twitter   Facebook   LinkedIn   Email article link





© TechMarketView LLP 2007-2019: Unauthorised reproduction prohibited see full Terms and Conditions.