HotViews Archive

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TechMarketView shortlisted for 'Diversity Employer of the Year' Award
25 Sep 2017
Breaking News: Private Equity firm nets Nets
25 Sep 2017
Picfair snaps up another £1.5m in funding
25 Sep 2017
A positive start for Elecosoft
25 Sep 2017
Albert not delivering enough as yet
25 Sep 2017
Nasstar sees fruits from consolidation progamme
25 Sep 2017
Recurring payments business GoCardless raises US$22.5m
25 Sep 2017
SAP acquires Gigya to boost Hybris id management
25 Sep 2017
Growing Osirium H117 revenue can’t stem £1.2m loss
25 Sep 2017
Are you joining us next Thursday?
25 Sep 2017
Business as unusual for recruiter InterQuest
25 Sep 2017
Gender stereotyping
24 Sep 2017
UBER
23 Sep 2017
Imagination Technologies taken out by the Chinese
23 Sep 2017
Investor gets Sweet over DogBuddy
22 Sep 2017
NoSQL MongoDB to IPO
22 Sep 2017
Just Eat vs Deliveroo – a tale of two models
22 Sep 2017
Great British Scaleup applications CLOSE 4th OCTOBER
22 Sep 2017
Fairsail's Adam Hale leaves Sage People
21 Sep 2017
CORRECTION -- Degree apprenticeships
21 Sep 2017
SciSys upbeat on H1
21 Sep 2017
Digital Shadows adds US$26m to fund expansion
21 Sep 2017
Capita sets the scene for the journey ahead
21 Sep 2017
Unlock the Intelligence with TechMarketView on 5 October
21 Sep 2017
Interest in degree apprenticeships soars
21 Sep 2017
Enterprise Compute Cloud for Oracle
21 Sep 2017
‘GBS’ CloudTrade starts scale-up journey
20 Sep 2017
ATTRAQT H1 revenue jumps following Fredhopper deal
20 Sep 2017
One more thing...
20 Sep 2017
Beleaguered Watchstone still waiting for sale
20 Sep 2017
Momentum builds at eg Solutions in first half
20 Sep 2017
Accesso from over here, doing well over there
20 Sep 2017
blur enters twilight zone
20 Sep 2017
JUST TWO WEEKS LEFT TO APPLY FOR GBS2
20 Sep 2017
Building Productive Business Solutions in Microsoft SharePoint and Office 365
20 Sep 2017
Alliance powers First Derivatives into Machine Learning
19 Sep 2017
AWS introduces per second billing
19 Sep 2017
Bango accelerating
19 Sep 2017
The maturing of Eagle Eye
19 Sep 2017
** NEW RESEARCH ** No sign of relief for Indian Pure-Plays
19 Sep 2017
How to make any IT transformation project a success
19 Sep 2017

UKHotViews©

 

Monday 25 September 2017

TechMarketView shortlisted for 'Diversity Employer of the Year' Award

Women in ITI am absolutely delighted that TechMarketView has been shortlisted for Diversity Employer of the Year at the Women in IT Awards organised by Computing . See Click Here.

I think this is the first time TechMarketView (TMV) has been entered for any award. But diversity is really a crucial part of the DNA of TMV. Over 70% of TMV people are female. Our MD is female. Our Exec Board is 2 male:4 female.

TMV is about being family friendly and trusting our people with flexibility in how they perform their tasks. Because there is such a strong team spirit, it is rare (actually it has never happened) where anybody ‘let’s down’ their colleagues. To be honest, as a result I don’t know a single person who wouldn’t - doesn’t - go the extra mile.  In return, picking up the kids from school, attending an assembly etc is all part of the ‘give & take’. BTW - This appeals just as much to our male employees as our females.

This diversity has been a major contributor towards our success. Bluntly, I think TechMarketView would be a worthy winner on 1st Nov 17

Posted by Richard Holway at '18:03'

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Monday 25 September 2017

Breaking News: Private Equity firm nets Nets

logoNordic Payments Processor Nets is the subject of a US$5.3bn offer from Evergood 5, a company controlled by US PE firm Hellman and Friedman. It’s almost a done deal as shareholders holding 46% have agreed to the offer and the company looks as if it will be delisted from Nasdaq Copenhagen which it joined 2 years ago. Nets is the leading provider of payment services across the Nordic region.

In our August FinTechViews note, “Why all the M&A in Payments”, we highlighted the need for scale and access to customer data in this increasingly turbulent market. We can only presume that the management at Hellman and Friedman have the same views. Perhaps they even read our report.

If you don’t yet subscribe to FinancialServicesViews and therefore can’t access our Fintech reports and our increasing output on the Payments sector, please contact Deb Seth (desth@techmarketview.com) in our Client Services team.

Posted by Peter Roe at '13:03' - Tagged: acquisition   private+equity   payments  

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Monday 25 September 2017

Picfair snaps up another £1.5m in funding

logoWhen we first wrote about London-based image licensing startup Picfair back in August 2014 (see £4k startup Picfair snaps up £310k seed funding), we thought it’s best (only?) chance of success vs the likes of Getty Images would be to build function, content and market awareness fast.

Well, three years on and Picfair seems to have picked up pace – and some extra dosh too, with £1.5m in new funding, in a round led by the Claverley Group, owners of Express & Star regional UK newspaper.

Picfair’s USP is that image owners can set their own prices, while Picfair takes just 20% commission on any images licensed through the platform, vastly undercutting the traditional players.

Fair enough!

Posted by Anthony Miller at '11:36' - Tagged: funding   startup  

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Monday 25 September 2017

A positive start for Elecosoft

Elecosoft logoAIM-listed construction software specialist, Elecosoft has had a very positive start to the year with revenue up 14% to £10.0m (H1 FY16: £8.8m) and profit before tax up 81% to £1.0m (H1 FY16: 0.6m). At constant currency, revenue improved by 8% to £9.5m and profit before tax by 68% to £0.9m.

UK revenue improved by 18% to £3.3m (H1 FY16: 2.8m), representing 33% of revenue for the half. Growth was not as strong in Scandinavia, Elecosoft’s biggest market (36% of its revenue); revenue improved by 5% to £3.6m (H1 FY16: £3.5m). It achieved growth in all geographic regions during H1.

The rebranding exercise that Elecosoft started last year has continued into 2017. It has now unified all software brands under the Elecosoft brand worldwide.

The business has increased it expenditure on software development to £1.5m (H1 FY16: £1.4m). During H1 it launched a SaaS version of its construction scheduling software Powerproject in the UK, and introduced its stair design software Staircon to Canadian and Australian markets.

ICON, which was acquired in October 2016 (see Elecosoft buys ICON for retail SaaS know-how), contributed £0.4m in revenue in the period. Although relatively small, ICON has as impressive customer base in the retail sector and since acquisition IconSystem has been adopted by businesses in other property management sectors.

An impressive start to the year and it has also “enjoyed an excellent start to the second half”. The business will hope the unification of its product range under the Elecosoft brand will improve its ability to cross-sell amongst existing customers and help extend its reach outside of the construction markets in which it has concentrated to date.

Posted by Dale Peters at '09:54' - Tagged: results   software   construction   H1  

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Monday 25 September 2017

Albert not delivering enough as yet

logoIt may have rebranded itself as Albert Technologies (from Adgorithms) in July this year to reflect the focus on its SaaS Albert machine intelligence enabled marketing platform, but the company hasn’t shaken off the problems that prompted the shift, primarily changes in the online advertising market. This was evident in its H1 results (to June 30 2017) which saw EBITDA losses deepen from $2.7m to $6.2m on revenue that plummeted from $8.7m to $4.4m.

Albert, which was launched in 2016 with version 2.0 released in H1 and effectively replaces human campaign managers, is most assuredly the future of the company. However, it has a long way to go because although Albert Technologies has made progress on the sales and partnership fronts and SaaS represents 45% of gross profit, SaaS revenue is only 10% of total revenue, which suggests there are more hard times ahead as the transition progresses.

There is more fundamental change coming to the company, as it prepares to seek shareholder approval to sell the All Aspects division which houses its ‘legacy’ Indirect and Performance assets and performed particularly, but not unexpectedly, poorly. We’ve commented previously that more efficient operations are needed, and that’s still the case even with the Albert advantage. 

Posted by Angela Eager at '09:53' - Tagged: results   saas   software   machineintelligence  

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Monday 25 September 2017

Nasstar sees fruits from consolidation progamme

nassHosting provider, Nasstar, has reported progress in the first six months of FY17 as it executes against its "Nasstar 10-19" consolidation programme. The company saw its topline grow 47% to £11.9m, with organic sales in recurring revenue increasing 5%. Recurring revenue as a percentage of the total is moving in the right direction, up from 88% to 90%.

Nasstar has progressed from its acquisition strategy (which included the acquisition of VESK to take it into the public sector and Modrus, which added scale and further presence in recruitment and financial services) to focus on operational gains. To that end, Nasstar’s “10-19” programme has been addressing some important points – including retirement of brands, improved account management, consolidation of processes, and streamlining teams.

As a result, Adjusted EBITDA margin has increased to 22% (from 20%), with the company aiming to hit 25% by the end of 2019. 
That said, the operating loss increased to £884k from £593k last year due to an increase in customer contract amortisation and certain exceptional items relating to the "Nasstar 10-19" consolidation programme.

However, we see some good green shoots peeping through and certainly the mid-market is receptive to the types of cloud services Nasstar can provide.

Shares were up about 4% at time of writing.

Posted by Kate Hanaghan at '09:47' - Tagged: results   cloud   hosting  

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Monday 25 September 2017

Recurring payments business GoCardless raises US$22.5m

logoGoCardless has built itself a strong position in a rapidly growing niche of the payments market. The company enables businesses to collect regular payments from their customers by managing the processing of direct debits. As businesses and individuals consume more and more on-line subscription services, or pay for utilities or memberships, GoCardless' "Direct debit-as-a-Service" leverages the direct bebit infrastructure acoss the UK and Europe and offers an easy way for companies to set-up, receive and manage the payment flow. By using the bank network, rather than the card rails so often used by newcomers to the Fintech sector, the underlying network cost is lower and the management of repeat payments easier.

Seven-year old GoCardless is run by co-founder and CEO Hiroki Takeuchi (interviewed recently by TechCrunch) who is looking to broaden the scope of the business geographically, so that businesses can more easily manage payments across multiple territories. The business currently handles over US$4bn of transactions with more than 30,000 organisations in the UK and Europe, with over 100 partners, including Xero, Sage and Zuora. US$22.5m has been raised from the company’s existing investor base.

As the payments market comes to terms with the introduction of PSD2 and Open Banking (see our report here), companies such as GoCardless, with a secure foothold, established customer relationships and a lengthening list of growth opportunities, should be well-placed.

Posted by Peter Roe at '09:19' - Tagged: saas   fundraising   payments   banking   FinTech  

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Monday 25 September 2017

SAP acquires Gigya to boost Hybris id management

logoSAP is to boost the profiling capabilities of its Hybris ecommerce solution with the acquisition of Gigya, a specialist in customer identify and access management, who has its HQ in the US and runs R&D out of Israel. Israel has a vibrant security startup community that suppliers such as Microsoft and Symantec (see previous HotViews posts here) frequently tap into to boost their own resources.

Media reports suggest SAP is paying $350m for the 350-employee strong company. Gigya received Series A funding in 2007, and since then has raised $100m+ in further capital.

Acting to boost identify management can only be a good thing, especially in the ecommerce area where the threat landscape is increasing and customer trust is vital for brands, of which Gigya has around 700 on its books. This tuck-in acquisition will increase SAP Hybris’ credentials and send the message that investment in protection is ongoing.

Posted by Angela Eager at '09:12' - Tagged: acquisition   software   security  

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Monday 25 September 2017

Growing Osirium H117 revenue can’t stem £1.2m loss

Growing Osirium H117 revenue can’t stem £1.2m lossAIM-listed cyber security specialist Osirium grew its revenue by 59% yoy to £261k in the first six months of 2017, but a corresponding 135% hike in administrative expenses resulted in in a sizeable net loss of £1.2m, up from a deficit of £352k in H116.

Osirium has spent big on International sales and marketing since its IPO in April 2016 as it looks to make its mark on a competitive market for privileged access management (PAM) solutions populated by the likes of BeyondTrust, CA Technologies, Centrify and CyberArk. It has hired additional sales staff and forged distribution and reselling agreements with local players in Germany, Austria, Switzerland and Poland, the Middle East, Singapore and Australia to get product in front of punters.

The question is whether (or how quickly) the returns can pay back that investment. Revenue is growing but remains modest at this stage of the company’s development. Turnover from Osirium’s SaaS-based privileged access management service grew 29% to £207k, with professional services expanding from £4k to £54k during the period.

Osirium's pot of IPO cash continues to dwindle (now £2m, down from £4.5m in H116 and £3.6m in FY16) but things do look rosier in terms of future revenue. Management report invoiced sales up 393% with H117 bookings totalling £445k (H116 £90k). Those numbers should make for a better second half but on this evidence the path to profitability could be a long one.

Posted by Martin Courtney at '09:11' - Tagged: cybersecurity   interims   Osirium  

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Monday 25 September 2017

Are you joining us next Thursday?

TMV logoWe're delighted that so many of you have already booked your place at An Evening with TechMarketView next Thursday and can't wait to see you there! If you have yet to reserve your seat at An Evening with TechMarketView on Thursday 5 October there’s no time to lose. There are only a limited number of places left and these are going quickly - book your place via the website or contact our event coordinator Tina Compton (tina.compton@tx2events.com) directly.

Our fifth annual event is centred around our 2017 research theme, Unlocking the Intelligence. Hear from the TechMarketView analyst team about the trends, issues and suppliers shaping the UK software, IT services and business process services markets, now and into the future. Learn how the financial services and public sectors in particular are battling to ‘Unlock the Intelligence’ and hear from two erstwhile Little British Battlers with contrasting stories: one sold out successfully and one is scaling up and making its own acquisitions. Then take note as our Chairman Richard Holway MBE closes the show with his view of the future for the sector through to 2035 and beyond. 

Run in association with Sage, the evening event commences at 6:30 pm with a welcome drinks reception. This is followed by an hour of analyst presentations in the auditorium, a pre-dinner drinks reception and then a sumptuous three-course meal. During the course of the evening there will be plenty of opportunity for you to tap the brains of the TechMarketView analyst team, as well as meeting your peers in the industry – indeed we’re told the networking is second to none.

An Evening with TechMarketView will once again be held at the magnificent premises of the Royal Institute of British Architects (RIBA) at 66 Portland Place, W1B 1AD. Tickets cost £425 for TechMarketView research subscription clients and ‘Little British Battlers’ (£525 for everyone else). It has been a sell-out for the last four years, so book now and secure your place at what so many executives tell us is the one industry event they simply can’t afford to miss!

TMVE banner

   The TechMarketView Evening 2017 is proudly sponsored by

Sage logo

Posted by HotViews Editor at '08:31' - Tagged: events  

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Monday 25 September 2017

Business as unusual for recruiter InterQuest

logoTaken in isolation, half-time results from UK-headquartered IT recruitment firm InterQuest would not have warranted much comment, with the ‘usual suspect’ excuses of Brexit uncertainty and public sector demand decline resulting in ‘disappointing’ numbers.

But what was missing from the report was any news on the appointment of a new Nomad (nominated advisor), the lack of which led to InterQuest’s shares being suspended from AIM on 11th September (see InterQuest Nomad wanders). The company has just another couple of weeks to appoint a new Nomad before its shares are automatically delisted.

Neither was there any further news on the MBO bid led by executive chairman, Gary Ashworth, which has left the company technically a subsidiary of bid vehicle Chisbridge, having garnered just over 58% of InterQuest’s shares when the offer closed in early August (see Embattled InterQuest arrives in No-Man’s-Land).

Meanwhile, back to the numbers, which showed revenues for the 6 months to 30th June down 6% to £69.1m, but gross profit up 2% to £11.2m, lifting gross margins 140bps to 16.2%. Costs relating to the ‘defence’ of the MBO bid, along with restructuring costs and further investment in its New York office, dragged operating profit down to £0.53m, but this compares favourably with the £2m operating loss in H1 2016 after the £3.2m write-down associated with the ECOM acquisition (see InterQuest dragged down by ‘digital’ ECOM).

So, for now at least, it’s ‘business as unusual’ at InterQuest, as the clock ticks away the time towards what seems most likely to be its return to private ownership. But whether that would mark the end of InterQuest's problems is a moot point.

Posted by Anthony Miller at '08:04' - Tagged: recruitment   resullts  

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Sunday 24 September 2017

Gender stereotyping

BreakfastLast week I gave a speech at the Scaling Up: Selling Out Breakfast, organised by ScaleUp Group at Goldman Sachs, and posted a photo on my Facebook page. Unexpectedly, the majority of comments I received were along the lines ‘So the conference was on diversity?’ and  ‘were there any women there?’. They had a point. Out of around 100 attendees I could only identify 6 as women - and two of those were Vin Murria (who was a panelist with me) and TechMarketView’s Tola Sargeant.

The Sunday Times reported today that (Baroness) Martha Lane-Fox had addressed a gala dinner in San Francisco last week for British tech entrepreneurs and said “What the hell’s happened to mean we have such an absence of female voices in the room?”. Even more surprising when you realise how young our tech industry is compared to most others - so we can’t really blame any historic bias.

I have oft reported that TechMarketView ‘practices what it preaches’ re gender equality. Indeed TMV has far more women than men, a female MD and an Exec Board of 4 women and 2 men. They are all at TechMarketVew because of merit.

GenderIf you are wondering why this gender discrepancy in tech has happened, I suggest you read the report from the Girls Attitude Survey from the Girl Guides published this week. Click here. The negative effects of gender stereotyping affects most young girls. Although these young girls feel pretty confident about their own digital skills, only 37% would consider a career in tech. One girl commented about how ‘very difficult’ it was to be the only girl in a male dominated environment. Another suggested female-only tech (coding) clubs.

Finally Jacqueline de Rojas, President of techUK sent me this photo  that had been taken in Mothercare. The girls T-shirt says “Make the world a prettier place’. The same T-shirt for boys is emblazoned with ‘Genius’ and various science symbols.

Wouldn’t it be great if a tech breakfast, lunch or dinner in 10 years time actually had an equal number of male:female attendees? We need to start when they are young. Ie stop gender stereotyping our own young girls -  particularly as far as tech is concerned.

Posted by Richard Holway at '10:10'

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Saturday 23 September 2017

UBER

UBEROur HotViews readers cannot have failed to be aware of the furore around TfL banning UBER from operating in London. My ‘email bag’ is pretty much 50:50 against:for the ban. I would have expected that my ‘female’ friends would be 100% against UBER. Indeed some of them said that they felt really unsafe using UBER. Conversely many welcomed the convenience and cost savings of their UBER cabs; saying that the only financially-viable alternative was walking home which was even more unsafe.

Looks like over 600,000 people have signed a petition against TfL’s ban. Citing that TfL were against ‘innovation’ and were ‘Luddite’.

I think that’s a bit unfair. TfL were NOT complaining about the technology or the ‘disruption’. They were complaining that UBER had rode roughshod over all the regulations which applied to Black Cabs and other taxi operators in London. If UBER could meet those obligations, I am sure their license would continue.

I am totally for the ‘New Economy’. But I am also for a ‘Level Playing Field’ and the upholding of the many regulations, employment laws, tax regulations, H&S rules etc that are the result of many painful experiences over many years.  If we let UBER ‘get away with it’, then the same applies to AIRBNB, Deliveroo etc. 

Posted by Richard Holway at '18:24'

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Saturday 23 September 2017

Imagination Technologies taken out by the Chinese

ImIt was inevitable that Imagination Technologies would get bought. And probably inevitable that would be subject to a takeover by a foreign entity. Ever since the mighty Goliath Apple spat out the David that is Imagination Technologies in April - telling them they wouldn’t use their graphics chips anymore - their fate was sealed. Apple will now design and build their own graphics chips.  ‘So long and thanks for all the fish..’.

Now Canyon Bridge Capital Partners has agreed to buy Imagination for c£550m. The offer at 182p per share is a fraction of its 2012 peak. At the same time Imagination is selling its MIPS arm for $65m to Tallwood Venture Capital.

Now I’ve got into great trouble on HotViews before for even mentioning that certain global  tech companies are actually owned by the Chinese State which might cause certain security issues. Indeed that particular company is banned from telecom equipment sales in the US. So the fact that Canyon Bridge Capital Partners is itself backed by the Chinese State must give some concern. However, they have said that Imagination will continue to be based in Cambridge and staff will not be cut. All very similar of SoftBank’s purchase of ARM last year.

Does ownership matter? Can a company owned by the Chinese State REALLY be independent? Does the fact that the Chinese Government now own so much of the tech that powers the internet and smartphones matter?

I await the heavy gang calling (metaphorically) at my door. Like they did last time.

Posted by Richard Holway at '18:01'

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Friday 22 September 2017

Investor gets Sweet over DogBuddy

logoI will try to spare you the doggie puns to bring you the news that London-headquartered canine care startup DogBuddy has just raised a further €5m in a Series A funding round backed by existing investor Sweet Capital.

Born as myDogBuddy in 2013, they changed branding after merging with Spain’s Bibulu in 2014 (see myDogBuddy invites Spanish Bibulu into its kennel). DogBuddy also operates in Italy, France, Germany, Sweden and Norway. Its services include home dog boarding, doggy daycare and dog walking; owners will be comforted to know that they can ‘(r)eceive free photo, video and GPS tracked 'walkies' updates’ of your dog enjoying themselves in the safety of your sitter's care’.

DogBuddy takes a 15% slice of the booking value for each transaction.

Gets the bone, I’d say. (Sorry).

Posted by Anthony Miller at '09:41' - Tagged: funding   startup  

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Friday 22 September 2017

NoSQL MongoDB to IPO

logoNoSQL open source database provider MongoDB has officially filed for an IPO with the intention of listing on Nasdaq. The company, who posted a loss of $46m on revenue of $68m for the six months to July 31, has nominally set a target to raise $100m.

Designed to handle the demands of unstructured big data, New York-based MongoDB is one of the darlings of software startups being less expensive than alternatives from the traditional suppliers and reported to be easier to use. While facing stiff competition on all sides - fellow open source providers such as Cassandra and Cloudera, traditional providers like Oracle and IBM with their NoSQL offerings, plus Amazon Web Services, Google and Microsoft Azure on whose cloud platforms MongoDB also runs its database services – the company has built a reputation. As of the end of July it had secured 4300 customers, although it’s not clear how many of those are paying customers (it offers a freemium model). As a listed company one of its biggest challenges will be converting sufficient users into paying customers to satisfy thirsty investors. 

Posted by Angela Eager at '09:20' - Tagged: cloud   software   ipo  

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Friday 22 September 2017

Just Eat vs Deliveroo – a tale of two models

logologoIt is instructive to compare and contrast the business models of UK-headquartered international food delivery startups Just Eat and Deliveroo.

To put it simply, Just Eat is hugely profitable and generates a shedload of cash. Deliveroo isn’t and doesn’t.

By the numbers: Just Eat turned over £376m last year with a net profit of over £71m, and generated operating cash of £97m (see Just Eat dining well). Deliveroo turned over £129m last year with net losses to match, and consumed £111m of operating cash.

Why is this so?

The clue, if you needed it, is in the gross margin. Just Eat makes 91% gross margin; Deliveroo makes just under 1%. The difference is that Deliveroo engages (we shouldn’t say ‘employs’) delivery riders and Just Eat doesn’t. Indeed, according to its website, Deliveroo riders in the UK ‘(m)ake as much as £120 a day’, though one wonders how many of the (reportedly) 3,000+ riders make anywhere near that sum.

Here’s another KPI to digest.

Just Eat spent 71% of revenues on SG&A in 2016 but did not split out global marketing costs, other than to say that they spent £38m on marketing in the UK, their largest market at £237m, i.e. some 16% of UK revenues. Deliveroo spent 111% of revenues on SG&A, which is not broken out.

By the way, Just Eat compensates its ‘real’ employees better; it employed 1,621 staff last year at an average cost of £54.5k per employee. Deliveroo had 1,049 staff at an average cost of £47.9k per employee.

Happy eating.

Posted by Anthony Miller at '09:11'

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Friday 22 September 2017

Great British Scaleup applications CLOSE 4th OCTOBER

logoThere’s not much time before applications close for the second TechMarketView Great British Scaleup event (GBS2), to be held in London on 7-8 November.

logoThe Great British Scaleup programme helps UK tech SMEs scale up by appraising their plans to achieve a step-change in growth in an intensive 90-minute closed-door session with TechMarketView analysts and advisors from ScaleUp Group, the team of successful tech entrepreneurs and experienced executives that have been responsible for accelerating growth and achieving successful exits at many well-known tech companies.

In this session, your company’s scale-up potential will be assessed using the ScaleUp Index, which will identify any areas of your business which might be an inhibitor to achieving your growth plans, and allow you to track your progress.

There is no charge to participate in the Great British Scaleup programme, nor any obligation to follow through on the outcomes. It is an independent insight of your company’s scale-up potential relative to your peer group, also making you feel better prepared to undertake the next stage of your scale-up journey.

There are 8 session slots available at GBS2 and it’s easy to apply. Just fill in the Pre-Qualification Form on the TechMarketView website here by Wednesday 4th October. It should not take long to complete it and we will let you know by 18th October whether your company has been selected.

logoIn addition, every applicant will be entitled to an optional initial infrastructure assessment at no charge and with no obligation by managed cloud and infrastructure services firm Cogeco Peer 1, the Enterprise Cloud & Infrastructure Services Technology Partner for the Great British Scaleup programme.

If you have any queries about the Great British Scaleup programme, please give TechMarketView Managing Partner Anthony Miller a call (020 3002 8463) or drop him a line (amiller@techmarketview.com).

Don’t miss out on a unique opportunity to tap into the market knowledge of TechMarketView analysts and the success of ScaleUp Group advisors to understand what it could take to accelerate your company’s growth.

Posted by HotViews Editor at '07:47' - Tagged: gbs  

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Thursday 21 September 2017

Fairsail's Adam Hale leaves Sage People

HaleAs many of our readers know Adam Hale, and we have featured Fairsail so many times, I’m sure you will be interested to learn that Adam has just announced that he will be leaving Sage People in October.

I’ve known Adam since the very early days of the Prince’s Trust Technology Leadership Group where he served as Chair from 2009 -2011. At that time he was with Russell Reynolds. But then made the rather bold - or in hindsight ‘inspired’ - move to head up Fairsail in Oct 2013. As my headline in March 17 screamed All Hail Adam Hale. As Sage acquires Fairsail. In those four years Adam had boosted Fairsail’s revenues from £1m to north of £10m; creating 120 new jobs in the process and garnering 140,000 users in over 20 countries. Achieving a valuation of £110m for Fairsail was certainly a crowning achievement.

I became an investor in Fairsail as Hale joined and, I quite readily admit, it was my best private company investment over any similar period of all time.

I have to be honest, I never saw Hale as a long term Sage People person. If you want to know “What Adam does next” - read his blog today. He says he will go plural. I’d have thought that he had at least one more CEO role in him. But, whatever, Adam will be in great demand as his CV now speaks for itself.

We wish him well and know that this is not the last HotViews report hailing Mr Hale!

Posted by Richard Holway at '16:23'

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Thursday 21 September 2017

CORRECTION -- Degree apprenticeships

WantAs some readers have pointed out, I quoted the wrong figure in my post - Interest in degree apprenticeships soars - earlier today. The median  salary for degree apprentices was £17,802. The £28,000 figure I used was the median salary for graduates.

The points and conclusions of the article still very much hold true though. Earning £17.8K pa for 3+ years and no tuition fees or maintenance seems a good trade off against the possibility of a £28K starting salary with £50K of debt. Anyway, the ISE didn’t give a salary figure for degree apprentices once they too had graduated. I suspect it might be a lot more than £28K

Posted by Richard Holway at '15:56'

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Thursday 21 September 2017

SciSys upbeat on H1

logoSciSys fired the engines to good effect during H1, producing revenue that was up 23% to £27.7m for the six months to June 30 2017 (6% organic growth) but it was the Annova acquisition within Media & Broadcast plus the Space division that provided the real power. In addition, Annova hit its milestone on the flagship BBC project, post period and earlier than expected, underlining the value of the acquisition.

Digging into the divisions, performance was variable. While revenue from the Space business was up 20%, Media and Broadcast grew just 1%, while Enterprise Solutions and Defence declined by 8%, which at first glance is at odds with the upbeat mood of CEO Klaus Heidrich and CFO Chris Cheetham this morning. However, as was previously signposted via new contract signings, group overall performance was strong and the team was even more upbeat about H2 and the full year because H2 has traditionally been a stronger period. Year on year comparisons are a better reflection of performance and it appears to be confidently on target. The pattern of a better H2 is well established and with a record half year order book of £64m, SciSys entered the second half with strong prospects.

While adjusted operating profit rose from £1.1m to £1.3m, the company dropped to an operating loss of £1.3m vs. a £1.1m profit. The numbers don’t tell the whole story however because a prime reason for the loss was a higher than anticipated earn out payment to Annova because its performance was better than expected, which is not a bad reason for reporting a loss.

Other positive signs include recruitment across all divisions, with the team of the opinion that they are well positioned compared to competitors to attract and retain people because they can offer interesting work e.g. space projects, the BBC.  Attracting and retaining staff with sought after skills is getting harder so suppliers have to offer more than money. 

Posted by Angela Eager at '09:27' - Tagged: results   software  

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Thursday 21 September 2017

Digital Shadows adds US$26m to fund expansion

logoIn July, we hailed the management team of UK and US-based risk management company, Digital Shadows as they were winners of the Scaling Up Award at the annual Enterprise Awards run in association with the Worshipful Company of Information Technologists.

This and many other measures of continued success have prompted investors to open their wallets again, with Octopus Ventures leading a US$26m Series C round, with support from World Innovation, Industry Venture and existing investors.

Digital Shadows is looking to invest in its SearchLight risk management platform which can be configured by users to provide a more tailored and targeted assessment of risks and mitigation strategies. It does this by combining scalable data analytics with insight from the Digital Shadows data analyst team and specific knowledge of the customer’s key risk areas.

The Digital Shadows management team has a broad range of experience across technology and the threat environment, with several members of the central team having worked at BAE Systems Detica. They also have an interesting approach to the developing problem of cyber-security, particularly as the complexity of threats increases with the rise of social media, the dark web and the sophistication of the cyber-hackers.

Posted by Peter Roe at '08:32' - Tagged: analytics   security   risk   cybersecurity   machinelearning  

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Thursday 21 September 2017

Capita sets the scene for the journey ahead

logoIt’s been almost a year to the day that UK business process services (indeed UK software and services) market leader Capita announced its first ever profit warning. There followed the exit of CEO Andy Parker and the loss of its coveted Holway Boring Award. Since then, Capita has also sold off its Asset Services and public sector recruitment divisions, laid off staff, changed the way it reports segmental results and, very recently, adopted the IFRS 15 accounting standard, which further depressed reported revenues and profits.

The job is far from finished.

With no news on the appointment of a new CEO (CFO Nick Greatorex is holding the fort pro tem), today’s half-time results are necessarily more about ‘the story so far’ than ‘the journey ahead’. Capita has restated H1 2016 numbers under IFRS 15, and along with the new segmental reporting structure, it’s going to require more than we can put in this post to get to the ‘meaning of life’.

For now, let’s just present the headline numbers, which, for the six months to 30th June, reflect a 1% decline in reported revenues, to £2.16b, though this becomes a 3% decline to £2.07b excluding exited businesses. Reported operating profit, at £62.6m, included some £165m of disposals and write-downs, which comes off the £228m underlying profit.

There was worrying news on some of Capita’s major contracts: The MoD DIO contract will end in 2019 with a one-off £16m boost and no further expected ‘gain share’; NHS PCSE still has ‘challenges’ and will need more cash to achieve ‘an inflection point in profitability’; and a contract with a major life and pensions client is likely to be at best amended, at worst terminated.

Whoever takes on the top job will need to be of sturdy constitution.

More soon.

Footnote - Capita shares down a massive 12% in early trading (9.20am).

Posted by Anthony Miller at '08:14' - Tagged: resullts  

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Thursday 21 September 2017

Unlock the Intelligence with TechMarketView on 5 October

TMV logoIf you have yet to book your seat at An Evening with TechMarketView on Thursday 5 October there’s no time to lose! There are only a limited number of places left and these are going quickly - book your place via the website or contact our event coordinator Tina Compton(tina.compton@tx2events.com) directly.

This year our flagship annual event is centred around our 2017 research theme, Unlocking the Intelligence. Hear from the TechMarketView analyst team about the trends, issues and suppliers shaping the UK software, IT services and business process services markets, now and into the future. Learn how the financial services and public sectors in particular are battling to ‘Unlock the Intelligence’ and take note as our Chairman Richard Holway MBE closes the show with his view of the future for the sector through to 2035 and beyond.

Run in association with Sage, the evening event commences at 6:30 pm with a welcome drinks reception. This is followed by an hour of analyst presentations in the auditorium, a pre-dinner drinks reception and then a sumptuous three-course meal. During the course of the evening there will be plenty of opportunity for you to tap the brains of the TechMarketView analyst team, as well as meeting your peers in the industry – indeed we’re told the networking is second to none.

An Evening with TechMarketView will once again be held at the magnificent premises of the Royal Institute of British Architects (RIBA) at 66 Portland Place, W1B 1AD. Tickets cost £425 for TechMarketView research subscription clients and ‘Little British Battlers’ (£525 for everyone else). It has been a sell-out for the last four years, so book now and secure your place at what so many executives tell us is the one industry event they simply can’t afford to miss!

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   The TechMarketView Evening 2017 is proudly sponsored by

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Posted by HotViews Editor at '07:30' - Tagged: events  

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Thursday 21 September 2017

Interest in degree apprenticeships soars

WantAny quick search of the TMV HotViews archives will demonstrate our support for apprenticeships, and degree apprenticeships in particular., as part of our campaign for more entry-level jobs in tech. See First ever degree apprentices graduate at Capgemini.

Really pleased that our enthusiasm is shared. Degree apprenticeships grew by 50% last year according to the Institute of Student Employers. Whereas the number graduate jobs was up just 1% there was a 19% increase in apprenticeships offered and now represent 54% of all graduate jobs.

The appeal is obvious as apprentices get paid an average of £17,802 pa from the start and have no tuition fees although they usually end up with a degree from a University and a continuing job.  Whereas those that go to university in the normal way can often end up with huge debts and a scramble for a suitable job. Indeed many graduates end up doing a non-graduate job or even spending considerable time on the dole.

These figures are for all degree apprenticeships - not just tech. 

Note - Corrected since original post. 

Posted by Richard Holway at '07:26'

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Wednesday 20 September 2017

‘GBS’ CloudTrade starts scale-up journey

logopicUK e-invoicing startup, CloudTrade, has just taken the first step on its scale-up journey, engaging TechMarketView Great British Scaleup programme Advisory Sponsor ScaleUp Group to help raise growth funding (see picture, showing (centre) CloudTrade CEO, David Cocks, with (L) ScaleUp Group chairman John O’Connell and (R) TechMarketView Managing Partner Anthony Miller).

CloudTrade was among the first six UK tech  SMEs selected to participate in the inaugural Great British Scaleup programme event in June (see CloudTrade: from ‘Battler’ to Scale-Up) having previously graduated from the TechMarketView Little British Battler programme in April 2016 (see LBB CloudTrade – making e-invoicing easy!).

And don’t forget, if you are the CEO of a UK tech SME and believe you have potential to scale up, you should be sure to apply for the next Great British Scaleup event to be held in London on 7-8 November. See here for details.

Posted by HotViews Editor at '15:47' - Tagged: gbs  

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Wednesday 20 September 2017

ATTRAQT H1 revenue jumps following Fredhopper deal

ATTRAQT logoFollowing the acquisition of Fredhopper earlier this year, ATTRAQT has seen H1 revenue (six months ended 30 June 2017) climb by 224% to £5.5m (H1 FY16: £1.7m). Recurring revenue increased by 194% to £4.7m (H1 FY6: £1.6m) and its annualised H1 exit rate was up 380% to £16.5m (H1 FY16: £3.4m).

ATTRAQT acquired Fredhopper in March 2017 (see ATTRAQT goes Large with Fredhopper). The deal secured one of ATTRAQT’s key competitors, provided access to the larger enterprise retail market and has helped boost sales significantly, but it has also brought with it lower margins. ATTRAQT’s gross margin has decreased to 71% compared to 86% in H1 FY16. Losses before tax were £3.2m (H1 FY16: loss of £0.9m), but that includes £2.1m of exceptional administrative expenses related to acquisition costs and post-acquisition integration. EBITDA losses were £0.5m (H1 FY16: loss of £0.8m), which were in line with management expectations.

Consolidation in the ecommerce software market is causing some concern in the business. While ATTRAQT hasn’t been affected by this trend to date, it is taking action to mitigate the impact and management has approved an incremental spend of up to £0.5m in H2.  

As we discussed when we met the ATTRAQT management earlier in the year (see Momentum building at the transformed ATTRAQT), we have been impressed with the ambition of the business and it appears to be sustaining it momentum. The business was added 13 new logos during H1, including some big brands like Arc'teryx, Auchan, Hunter Boots, Specsavers, and The White Company (it now has over 230 clients), and at the start of H2 it signed its second largest logo to date, with an as yet unnamed sportswear manufacturer, and has a strong pipeline for remainder of the year.

Posted by Dale Peters at '09:48' - Tagged: results   e-commerce   H1  

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Wednesday 20 September 2017

One more thing...

A reminder that if you have yet to book your seat at An Evening with TechMarketView on Thursday 5 October there’s no time to lose! There are only a limited number of places left and these are going quickly - book your place via the website or contact our event coordinator Tina Compton (tina.compton@tx2events.com) directly.

More details on the event are to be found here. We look forward to seeing many of you there!

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   The TechMarketView Evening 2017 is proudly sponsored by

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Posted by HotViews Editor at '09:47' - Tagged: events  

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Wednesday 20 September 2017

Beleaguered Watchstone still waiting for sale

Beleaguered Watchstone still waiting for saleAiling technology solutions provider Watchstone Group (formerly scandal hit Quindell) saw its total H117 revenue decline 6.5% to £28m as the firm continues to restructure in anticipation of a sale.

The ongoing investigation by the UK Serious Fraud Office (SFO) and a lawsuit filed by Slater and Gordon concerning alleged accounting misstatements in the lead up to its purchase of Quindell’s legal division can hardly be helping Watchstone woo potential buyers.

In the meantime the company is working hard to shrink its cost structure, with H117 pre-tax losses cut to £2.1m from £8.1m in H116. It has already sold the loss-making Business Advisory Services Limited with two non-executive directors set to step down in September. They will be followed out of the door by chief executive Indro Mukerjee in December, to be replaced by current company secretary Stefan Borson.

Watchstone says its ptHealth and ingenie business divisions are profitable and poised for growth, while the “reshaped” Hubio telematics arm is in far better shape after a consolidation of its headcount and office space. Watchstone doesn't seem content to sell cheap though, having rejected an offer from a private equity firm last year.

Much will depend on the outcomes of the SFO inquiry and Slater and Gordon litigation however, which if they go badly could prove very expensive indeed.

Posted by Martin Courtney at '09:43' - Tagged: results   telematics   Watchstone   Quindell  

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Wednesday 20 September 2017

Momentum builds at eg Solutions in first half

eg solutions logoMomentum has continued to build at AIM-listed back office workforce optimisation software provider eg Solutions, as it contemplates a future as part of US-headquartered Verint Systems (see eg Solutions agrees to acquisition by Verint).

Results for the six months to the end of July reveal revenue of £5.13m (up 105% from H117), a gross margin of 68.7% (compared to 53.6% in H117) and a move into profit at both the EBITDA and pre-tax level. PBT was £0.3m compared to a loss of £1.51m in the comparable period.

Contract wins with new and existing customers support growth in the four-year order book – it’s currently £21.4m, up from £16.2m a year ago. eg Solutions has signed some significant contracts recently including a win through its partnership with GCI to distribute its eg operational intelligence software to the public sector; a $2.7m deal with a leading global bank; and a five-year master service agreement with an existing customer adding a minimum of £1.4m incremental revenue (see here and here).

The improving picture presented in these results may well be eg Solutions’ swansong as we wait to see whether the recommended cash offer for the business by Verint Systems is approved. Although the company’s mid-market closing share price was been higher than the offer price since 11 August, the Board sees the offer as an attractive exit price given the illiquidity of its shares, the fundamentals of the business and the valuations of comparable small technology companies. It seems likely that eg Solutions will shortly become part of the US analytics company.

Posted by Tola Sargeant at '09:39' - Tagged: results   software  

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Wednesday 20 September 2017

Accesso from over here, doing well over there

Accesso from over here, doing well over thereAIM-listed Accesso grew its H117 revenue 17% yoy to US$47m from US$39.7m a year earlier, buoyed by new contract wins in multiple geographies and the acquisition of entertainment ticketing distributor Ingresso in March.

The cost of the Ingresso buy (which involves an initial cash payment of £17.5m rising to £24m depending on performance) helped push Accesso’s pre-tax profit down 30% to US$1.6m however, with net debt almost doubling to US$24m from US$12.5m in H116. Earnings per share fell 33% to 4.96 cents.

Accesso’s is a seasonal business and its FY performance is “second half weighted”. With H1 historically representing around 40% of its total annual revenue, we estimate FY17 turnover could reach US$116.5m, which would be a 13% increase on FY16.

Accesso continues to plough a lucrative niche in the form of ticketing, point of sale (PoS), virtual queuing and guest management solutions to the leisure, entertainment and cultural sectors.

Customers using its Passport, LoQueue, Siriusware and Showare solutions represent a global mix of visitor attractions and theme parks. New clients signed in H1 include the NFL Experience in Times Square, the CNN Studio Tour in Atlanta, the Jameson Distillery in Ireland, Experiencas Xcaret in Mexico, and the Niagara Parks Commission, highlighting the considerable effort Accesso has made in expanding its international business.

The scale of that ambition is apparent in Accesso's US$80m acquisition of US customised guest experience start-up The Experience Engine (TE2) completed in July which will swell the current customer base and provide a springboard for further expansion in the Americas going forward.

Posted by Martin Courtney at '08:53' - Tagged: results   Accesso   interims   Ingresso  

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Wednesday 20 September 2017

blur enters twilight zone

logoThere must exist a parallel universe in another dimension in which a company’s revenues can decline to almost zero, yet still fully expect investors to trump up more dosh to keep the business afloat.

Who else can we be talking about but blur Group?

When the company belatedly reported its 2016 results back in August, you could have interpreted management’s commentary as  ‘crisis over, new team in place, back to business as usual’ (see Blurring the lines between fantasy and reality). Today’s first-half results, and the announcement of yet another cash call, suggest otherwise.

For the record, blur’s revenues all but dried up ($212k), and they are now left with $2.5m cash in the bank after the $2.1m fund raising in July (see blur’s believers). Hence the new placing, which intends to raise a further £1.2m “to fund growth for approximately 2 years.” The 4.0p offer price is at a small discount to last night’s close, and blur will also issue warrants (1 per two shares) at an exercise price of 6p after 12 months.

One truly does need to suspend disbelief.

Posted by Anthony Miller at '08:07' - Tagged: fundraising   resullts  

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Wednesday 20 September 2017

JUST TWO WEEKS LEFT TO APPLY FOR GBS2

logoThere's just two weeks to go before applications close for the second TechMarketView Great British Scaleup event (GBS2), to be held in London on 7-8 November.

logoIf you are a privately held, UK-owned tech SME and feel that you are ready to make a step-change in growth, then you really should apply. Yours could be one of eight companies invited to meet TechMarketView analysts and advisors from GBS programme Advisory Sponsor ScaleUp Group, the team of successful tech entrepreneurs and experienced executives that have been responsible for accelerating growth – and achieving successful exits – at many well-known tech companies.

You will spend 90-minutes in an intensive session to help you uncover the opportunities for your business to scale up, using the ScaleUp Index, the new proprietary scorecard developed by ScaleUp Group. You will come away with much greater clarity on your scale-up potential and plans, and feel much better equipped to undertake the next stage of your scale-up journey.

logoIn addition, every applicant will be entitled to an optional initial infrastructure assessment at no charge by managed cloud and infrastructure services firm Cogeco Peer 1, the Enterprise Cloud & Infrastructure Services Technology Partner for the Great British Scaleup programme.

And of course, participating companies will also enjoy invaluable exposure in TechMarketView UKHotViews, along with coverage in selected TechMarketView research.

To apply to participate in GBS2, a senior member of your team will need to complete the Pre-Qualification Form on our website here by Wednesday 4th October. We will let you know by Friday 18th October whether your application has been successful.

There is absolutely no charge, so don’t miss out on the opportunity to tap into the market knowledge of the TechMarketView team, and the entrepreneurial experience of ScaleUp Group advisors, to understand what it could take to materially accelerate your company’s growth.

For further information about the TechMarketView Great British Scaleup programme, please check out our website or contact us by email at gbs@techmarketview.com.

Posted by HotViews Editor at '07:00' - Tagged: gbs  

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Tuesday 19 September 2017

Alliance powers First Derivatives into Machine Learning

logoRegular readers of UKHotViews will know that we have chronicled the rise of Northern Ireland-HQ’d First Derivatives as they invested in their high-speed database technology and expanded from their base in the financial services sector. Through a series of acquisitions and investments the company has built a strong portfolio of capabilities in data analytics and domain expertise to open up new vertical markets. See First Derivatives: Growth and Balance and work back.

The latest move by the forward-looking management team is to sign an agreement with Brainpool, a specialist machine learning consultancy, to capitalise on the substantial increase in interest in implementing Artificial Intelligence algorithms to drive improved customer experience and greater process efficiency. The 130-strong Brainpool team will be trained in FD’s core Kx database technology to link machine learning capability with the very high-speed, very big-data capabilities of the Kx engine.

Given the mounting interest in this technology and the wide range of industries and processes that can benefit from its introduction, there is a real and growing shortage of relevant expertise and experience. First Derivative’s move to secure this relationship with Brainpool looks like another good decision by FD’s top team.

utiYou can learn more about TechMarketView’s optimism surrounding this high-growth market sector  by looking at FintechViews – The state of UK and European Fintech and our latest BusinessProcessViews Market Trends report. We will also be talking about Machine Learning and its implications at our “Unlocking the Intelligence” event on October 5th, where we expect to host around 200 of the movers and shakers in UK IT services. If you are interested in joining us, details can be found here.

Posted by Peter Roe at '09:56' - Tagged: partnerships   analytics   big+data   machinelearning  

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Tuesday 19 September 2017

AWS introduces per second billing

awsAmazon Web Services has upped the ante by introducing per second billing for certain services. This is of course a defensive move versus other hyperscalers (who can offer per minute billing) and is bound to appeal to developers looking for even more flexibility around cost.

From 2nd October, Linux instances (that are launched in On-Demand, Reserved, and Spot form) will be billed in one-second increments. The same billing method will also apply to batch processing and EC2 instances in EMR clusters (which provide a managed Hadoop framework for processing large amounts of data). Per-second billing does not, however, apply to instances running Windows.

AWS says it expects the pricing change to encourage customers to use its services in an even more ‘elastic’ way, spinning up resource to cope with massive processing requirements and then quickly reducing this as and when needed. It’s hard to believe that it has been more than a decade since AWS launched its by-the-hour charging, which at the time was a significant step forward for cloud infrastructure flexibility.

AWS has seen its revenue growth rate slow but nevertheless we estimate that it’s still growing at 30%+ in the UK. Azure is clawing back Amazon’s early lead in the market, but still remains in second place (understand more about the supplier context here: Infrastructure Services Supplier Ranking 2017).

Posted by Kate Hanaghan at '09:39' - Tagged: cloud   PaaS   PublicCloud  

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Tuesday 19 September 2017

Bango accelerating

logoAt the full year results in March we reported that Bango, the Direct Carrier Billing (DCB) specialist, was beginning to motor and it looks as if they are making consistent progress. Over the six months to the end of June, they have added more billing routes, started providing DCB for Amazon in Japan and seen their revenues double (to £1.7m) and losses fall by 35% (to £1.7m at the after-tax level). Cash balances were maintained at around £5.6m. This acceleration looks to have been reflected in the share’s performance. It has more than doubled over the past year and is over five times the level of its low, just 18 months ago.

Brokers are confidently forecasting a move into profit in calendar 2018.

There are several clear reasons for optimism. Firstly, underlying business is very strong, with end user spend over Bango’s DCB platform doubling year on year, the growth being supplemented as new routes and operator/appstore relationships are added.

Secondly, Bango is beginning to benefit from its analytics business (“Bango Boost”). App stores and games developers can drive increases in purchases as they use insights from Bango’s behaviour analysis. Network operators are migrating to Bango’s platform rather than providing the service direct themselves. The decline in margin on end-user spend has slowed.

Finally, the link with Amazon Japan is opening up new possibilities. It is early days, but a much wider range of products is being sold over Bango’s platform and there is a greater propensity among Japanese consumers to use DCB rather than other e-commerce methods.

Costs appear under close control and the company is recruiting carefully to add skills in new geographical markets. The platform, recently further enlarged, can cope with much higher volumes without significant investment. With rising revenues, the profit outlook looks bright.

Posted by Peter Roe at '09:09' - Tagged: ecommerce   mobile   retail   payments  

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Tuesday 19 September 2017

The maturing of Eagle Eye

logoA transitional year isn’t always resoundingly positive but it hasn’t been a bad thing for Eagle Eye, as reflected in the 71% increase in revenue to £11.1m for the year to June 30 2017 and performance through the year that provided the confidence to secure £5.8m in a funding round in June.

The year was one of people and partnerships as it extended the board, appointed Tim Mason as CEO, built up its international business and developed its relationship with retail loyalty marketing company TCC Global. Despite investment it was able to hold EBITDA loss to £1.8m while sending the gross margin up 9ppts to 88%.

One of the obvious changes is a shift in the marketing message from Eagle Eye as a redeemer of digital promotions to a company that “allows businesses to create a real time connection with their customers” via its digital marketing plaform, Air. It reflects a shift from a technology led message to a customer-centric one, something CEO Mason has put in place. When a youngish company make the shift from technology led positioning, it is also a sign that it is maturing into its next stage of development. This comes at a time when Eagle Eye’s target retail market needs to foster customer loyalty and real time engagement, when they need to move to digital channels, and have to be able to measure the effect of social media - objectives Eagle Eye has the capability to assist with.

Posted by Angela Eager at '08:33' - Tagged: results   software   digital  

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Tuesday 19 September 2017

** NEW RESEARCH ** No sign of relief for Indian Pure-Plays

chartGrowth and profitability of the Top 6 Indian Pure-Plays (IPPs) continued to slide in the June quarter with no sign that the trend will change any time soon.

The leading IPPs are making headway in 'breaking linearity', but not quickly enough - surely more heads must roll!

Subscribers to the TechMarketView Foundation Service can read more in the latest quarterly edition of OffshoreViews right now.

And don’t forget that everyone can read our analysis of Dr Vishal Sikka’s time as CEO of Infosys free of charge in our special OffshoreViews Extra bulletin, Infosys – The Sikka Years. Just drop an email with your name, company, and position to info@techmarketview.com putting SIKKA YEARS in the subject line.

Posted by HotViews Editor at '06:00' - Tagged: offshore  

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