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Collapse 2019 (36)2019 (36)
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Insurtech Cytora secures £25m Series B funding
18 Apr 2019
Credit Kudos secures £2.2m in funding
18 Apr 2019
'An Evening with TechMarketView' Early Bird ticket sales close in less than two weeks
18 Apr 2019
*NEW RESEARCH* BJSS: Putting relationships at its heart
18 Apr 2019
Funding Circle highlights strong revenue growth
18 Apr 2019
*UKHotViewsExtra* Agilisys triumphant at States of Guernsey
18 Apr 2019
Digital shipbroker Zencargo Raises $20m
18 Apr 2019
Mindtree hits $1 billion
18 Apr 2019
Innovation, efficiency, visibility - the benefits of a simplified data protection strategy
18 Apr 2019
*UKHotViewsExtra* Advanced boosts app mod potential with Modern Systems acquisition
17 Apr 2019
IBM’s Q1 marks third quarter of consecutive decline
17 Apr 2019
Breezy HR acquisition for LTG
17 Apr 2019
Universe overcomes setback to deliver
17 Apr 2019
Hack casts a cloud over Wipro results
17 Apr 2019
r8 raises $5m and plots an early IPO
17 Apr 2019
NETFLIX shares down as it faces increased competition
17 Apr 2019
DON'T MISS OUT ON THE SERIES A GROWTH CHALLENGE!
17 Apr 2019
Topping the global rankings for 'inward investment' is not such a 'good thing'
16 Apr 2019
New CEO at Unit4: Mike Ettling
16 Apr 2019
Medbelle secures $7m to expand healthcare services
16 Apr 2019
*UKHotViewsExtra* New Parity CEO, Bayfield, making his mark
16 Apr 2019
Telit grows revenue 14%, shrinks losses
16 Apr 2019
HR platform Howamigoing raises £1.1m
16 Apr 2019
NHS introduces new digital services
16 Apr 2019
Manx snaps up Synapse 360
16 Apr 2019
Kainos set to make it nine in a row
16 Apr 2019
Salesforce.com buying philanthropic reseller Salesforce.org
16 Apr 2019
Innovation, efficiency, visibility - the benefits of a simplified data protection strategy
16 Apr 2019
Quiet confidence from cautious Sanderson Group
15 Apr 2019
Crossword starts strong from small base
15 Apr 2019
Early Bird ticket sales close at the end of April - Don't miss out!
15 Apr 2019
Infosys finishes with a flourish
15 Apr 2019
TCS breaks through the $20bn a year mark
15 Apr 2019
NTT's itelligence expands SAP capabilities with Weaveability
15 Apr 2019
European technology sector M&A activity holds strong
15 Apr 2019
HAVE YOU RISEN TO THE SERIES A GROWTH CHALLENGE?
15 Apr 2019

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Thursday 18 April 2019

Insurtech Cytora secures £25m Series B funding

CytoraCambridge University Insurtech spin-out Cytora has raised £25m in Series B funding led by EQT Ventures, with participation from Cambridge Innovation CapitalParkwalk and a number of unnamed angel investors.

Cytora was founded in 2014 going on to raise £6.8m in funding (see here & here), eventually focusing on the insurance sector. It has developed an underwriting platform that applies AI to commercial insurance combining public and proprietary data.

The first product launched in 2016 targeting large Insurance clients now including QBEAXA XLMS Amlin, and Starr and combines external data on things like property construction, company financials and local weather with the insurance company’s own internal risk data. Cytora’s USP is about speed, claiming to be able to distil a seven-day underwriting process down to 30 seconds via its API.

In addition, insurers have been able to build quotation applications on top of Cytora’s APIs, enabling business owners to buy policies online, requiring only a business name and postcode to issue a quote.

Cytora generates revenue by charging a yearly license fee, which increases based on usage and per line of business. The company intends to use the funding to expand the product suite further expand overseas.

Posted by Marc Hardwick at '09:54' - Tagged: funding   insuretech   insurtech  

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Thursday 18 April 2019

Credit Kudos secures £2.2m in funding

credLondon-based challenger credit bureau, Credit Kudos, has secured £2.2m through a funding round led by Ascension Ventures.

The round was conducted through Ascension’s Fair by Design fund, which aims to provide backing to start-ups providing products and services to help “end the extra costs of being poor”.

In the case of Credit Kudos, the purpose of the technology is to provide a much more comprehensive view of a borrower’s creditworthiness – and enable financial services providers to make lending decisions based on a more fair representation of an individual’s position. Credit Kudos argues that “traditional credit scoring is broken…”.

Credit Kudos pulls together and interprets customer consented data for use by lenders, brokers, and financial institutions, and presents the findings in an easy-to-use way. The firm is authorised by the Financial Conduct Authority, and integrated with some of the largest lenders in Europe.

Open Banking reforms are enabling the emergence of services such as those provided by Credit Kudos. In Financial Services Predictions 2019, Jon Davies explains how Open Banking will increasingly impact the market and competitive landscape.

Posted by Kate Hanaghan at '09:45' - Tagged: data   Lending  

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Thursday 18 April 2019

'An Evening with TechMarketView' Early Bird ticket sales close in less than two weeks

TechMarketView LogoLess than two weeks to go until our Early Bird ticket sales close for our 2019 'An Evening with TechMarketView', on 12th September 2019 at RIBA, London. We don't want you to miss out! So, secure your place now or be sure to book by 30 April. 

If you are a TMV client or subscribe to UKHotViewsPremium or if you're one of our Little British BattlersGreat British Scaleups or Innovation Partner Programme companies you will be eligible for TMV event rates.

More than 200 of UK tech’s ‘great & good’ are expected to attend the evening event which has become a popular fixture in the tech calendar and has been described by attendees as “the best networking event in the industry”. Registration commences from 6:30pm with our drinks reception sponsored by InterSystems, this will be followed by the speaker sessions and a first-class silver servce dinner. 

TMVE2018 Photo

With our theme for the year 'The Year of the Relationship', what better way to network with your peers and gain expert insight on the latest tech trends. 

Early Bird Rates: Book by 30 April 2019

Early Bird rates for a table of 10 and individual tickets are available and you can book here or contact our event management partner, tx2events on T: 020 3137 2541. For more information please click here.

The TechMarketView Evening is proudly sponsored by:

InterSystems Logo Aqilla Logo Kimble App Logo

Posted by HotViews Editor at '09:16'

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Thursday 18 April 2019

*NEW RESEARCH* BJSS: Putting relationships at its heart

BJSS logoRecently, privately-owned IT and business consultancy BJSS has grabbed our attention for several reasons: its continuing financial strength; its evident success on the UK Government’s Digital Marketplace, and the re-evaluation and re-launch of its mission, values and purpose since the appointment of long-time BJSS’er, Stuart Bullock, to the position of Managing Director towards the end of 2018.

BJSS was founded in 1993 in Leeds, West Yorkshire. Since then, the company has achieved consistent organic growth, citing a compound annual revenue growth rate since its inception of 10-15%.

In this latest PublicSectorViews research note, we analyse the company’s recent performance and business growth, look at the company’s secrets to impressive growth, put a spotlight on its long-term client relationship with NHS Digital, and consider the outlook for this fast-growing UK success story.

TechMarketView subscribers can download the research note – BJSS: Putting relationships at its heart – now. I you are not yet a subscriber and would like to find out more, please get in touch with Deb Seth.

Posted by Georgina O'Toole at '09:15' - Tagged: health   public+sector   strategy  

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Thursday 18 April 2019

Funding Circle highlights strong revenue growth

FCInnovative, P2P finance provider, Funding Circle, has released its Q1 financial highlights, reflecting strong business growth, year on year. The results, for the three months ending 31 March 2019, show that loans under management were up 44% on Q1 2018, to £3.4bn. Meanwhile the value of new loans issued, rose by 23% to £644m in the first three months of this year, compared to £525m in Q1 2018. Funding Circle reported overall revenue growth of approximately 40% year on year, as a result of the burgeoning loan book and an improved yield on transactions, in part due to policy changes in the US.

Funding Circle, which facilitates loans to SMEs funded directly by its investors, has also announced two new institutional investor products. Later this year, private direct lending funds will be launched in Europe and ABS bond products will be launched in the US and UK. Across all territories, Funding Circle loans are expected to deliver net returns to investors of between 5% and 8.5% in 2019 compared to 4.5% and 8.4% for 2018. Meanwhile, projections for the overall proportion of bad debts, remain healthy. These are in the range of 2.1% to 4% in the UK and reflect an improving picture across all territories since 2017.

Funding Circle remains bullish about its prospects and highlighted commitments by the European Investment Bank to lend €100m to SMEs over the next two years. The company also revealed the completion of a £187m securitisation of its UK loan book by Pollen Street Capital. Funding Circle did not however provide any updated guidance on its profitability. The latest selected highlights reflect the strength of the company’s business model and encouraging performance overall. As previously discussed, the one missing link appears to be a large positive number in the profits column (see: Funding Circle still not getting the "profit thing").

Posted by Jon C Davies at '08:54' - Tagged: p2p  

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Thursday 18 April 2019

*UKHotViewsExtra* Agilisys triumphant at States of Guernsey

Agilisys logoThe procurement process has been ongoing for more than two years. But, finally, the States of Guernsey has announced the preferred bidder for its Future Digital Services contract.

At the final hurdle, the bidders were Fujitsu and Agilisys (DXC had also been involved in the bidding at an earlier stage; the States had also considered an inhouse alternative model). It was a battle between a Japanese-headquartered global IT services firm and a UK-headquartered, and UK-focused, mid-sized IT services firm.

The latter - Agilisys - has come out on top, securing preferred supplier status for the ten-year contract. Preparatory work is already underway, with full delivery to commence in August. Details of the financial aspects of the programme are expected to be disclosed in early May when a Policy Letter is formally lodged with States Deputies.

UKHotViewsPremium LogoIn UKHotViewsExtra: Agilisys triumphant at States of Guernsey, we take a detailed look at the make-up of the deal, the way Agilisys sought to differentiate from the competition, how it is drawing on the portfolio of the wider Blenheim Chalcot Group, and how its approach to shaping a proposition for States of Guernsey has perfectly embodied TechMarketView’s research theme for 2019: The Year of the Relationship.

TechMarketView subscribers (including UKHotViews Premium subscribers) can read the analysis now. If you are not yet a subscriber, please contact Deb Seth to get access.

Posted by Georgina O'Toole at '08:39' - Tagged: public+sector   contract   IToutsourcing   local+government   digital+transformation  

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Thursday 18 April 2019

Digital shipbroker Zencargo Raises $20m

ZencargoZencargo, a London-based “digital freight forwarder” has raised $20m in Series A funding led by HV Holtzbrinck Ventures with participation from Tom Stafford, managing partner at DST GlobalPentland VenturesSamosLocalGlobe and Picus Capital.

Shipping is a multi-billion-dollar global industry but remains staunchly traditional and a laggard when it comes to technology and digital adoption. The industry still relies on shipbrokers to ‘fix’ companies who need to move freight with ship owners willing and able to move the goods. The ship broking sector (still heavily concentrated in London) in the main remains a ‘old school City’ type service, relationship-based and inherently inefficient.

Zencargo was founded in 2017 to address this inefficiency and provide the shipping industry with a platform to help users book and manage freight while using data and analytics to improve route optimisation and better manage supply chains. This insight then allows businesses to make informed decisions that can shorten lead times, increase supply chain agility and reduce working capital.

Shipping has been crying out for this type of disruption, but given the sector's traditonal nature will likely take time to work its way through to the mainstream.

Posted by Marc Hardwick at '08:39' - Tagged: funding   shipping  

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Thursday 18 April 2019

Mindtree hits $1 billion

LogoA strong Q4 took Bangalore-based mid-tier Indian pure-play Mindtree (just) past the billion dollar revenue mark in a financial year for the first time. During the twelve months to 31st March 2019 the company’s turnover increased by 18.2% yoy to $1.001b. Operating margin (in our model) for the quarter improved by a further 40 bps to bring the FY19 number up to 13.1% compared to 10.2% in the prior year.

Mindtree's US business was the key growth engine. Sales in this geography rose by c.25% yoy to over $730m and accounted for almost three-quarters of firm-wide revenue. Europe, conversely, proved much heavier going for the company with turnover increasing by just 4.6% yoy. Q419 sequential growth of 3.1% generated a top line of $48.5m indicating that, after a mid-year dip (see here), the pace is beginning to pick up again in the region. This territory, however, starts the new financial year at the same quarterly revenue run rate on which it ended Q119.

In a move one assumes not unrelated to the current hostile bid for the company by LTI, Mindtree’s board also announced that it was recommending to shareholders the payment of  a special dividend of 200%. This, together with the interim dividend of 30% and a proposed final dividend of 40%, will set the company back over £70m if approved at the forthcoming AGM.

LTI’s parent company, Indian industrial conglomerate Larsen & Toubro (L&T), has already acquired the 20.3% stake in Mindtree paying Rs980 per share. It has also issued an order to purchase up to a further 15% of Mindtree stock at the same price or lower, along with an open offer to purchase up to an additional 31% of Mindtree’s stock on the same terms. The latter closes on 27th May. Mindtree’s management is clearly trying hard to make its case for continued independence. It won’t be too much longer before we know whether they have been successful in doing so.

Posted by Duncan Aitchison at '08:32' - Tagged: results   offshore  

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Wednesday 17 April 2019

*UKHotViewsExtra* Advanced boosts app mod potential with Modern Systems acquisition

Advanced logoAdvanced has entered into a definitive agreement to acquire application modernisation specialists Modern Systems (ModSys International). Advanced will acquire all outstanding shares in the business. The value of the acquisition has not been disclosed. The deal should see Advanced grow its application modernisation business by approximately one third, taking its revenues to in excess of £30m.

Modern Systems logoModern Systems provides a full end-to-end solution for the migration of mainframe applications and workloads to modern platforms, including the transformation of legacy COBOL to modern languages such as Java and C#. Although it’s an Israeli corporation its headquarters are in Dallas, Texas.

Advanced’s application modernisation business, which has grown out of its acquisition of Transoft in 2013, focuses on the modernisation of VME and VMS systems. Its largest contract to date is with the Department for Work and Pensions (DWP) to help it migrate away from VME mainframe technology (see Advanced secures significant DWP contracts).

The acquisition of Modern Systems brings specialism in the IBM mainframe market to Advanced, helping it to broaden its proposition and bolstering its position in the US market.

The deal compliments last year’s acquisition of Information Balance (see Advanced opens new doors with Information Balance) and its recently announced partnership with GT Solutions. Through these deals, and the acquisition of Modern Systems, Advanced is in a strong position to support organisations regardless of where they are on their application modernisation journey. It follows Advanced’s acquisition of Kirona earlier this month (see Advanced: Kirona acquisition strategic on several fronts).

UKHotViews Premium logoThere is significant opportunity in the application modernisation arena, particularly in financial services and the public sector. The acquisition of Modern Systems should allow Advanced to extend both its geographical and technological reach in this market. Perhaps more importantly, it should also enhance Advanced’s attractiveness as an application modernisation partner to the larger players.

Subscribers can read more about the Advanced’s acquisition of Modern Systems here.

Not a TechMarketView subscription research client? Then why not subscribe to our low-cost UKHotViews Premium service to access all of our UKHotViews and UKHotView Extra posts?

Posted by Dale Peters at '10:12' - Tagged: acquisition   software   legacy   application  

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Wednesday 17 April 2019

IBM’s Q1 marks third quarter of consecutive decline

IBMIBM’s Q1 showed patterns that we have become accustomed to. In all, quarterly revenue was down almost 1% at $18.2bn, making the period IBM’s third consecutive quarter of declining revenue y-o-y.

Margins have improved in Services, due to a focus on rebalancing the portfolio and improving productivity and operational efficiencies. Cloud grew 12% (at constant currency) and consulting was up 9%.

Helping customers with their “digital reinventions” was a prime driver of GBS (+4%) growth. In GTS (-3%), hybrid and multi-cloud implementations are where the growth is, but exiting lower-value deals is putting pressure on the top line (but helping to improve the bottom line at the same time).

We have seen a continuation of trends that have been in place for some time, with lots of activity in digital and cloud areas. For example, this year you will have seen us write about Nationwide’s new virtual assistant (using machine learning from IBM Watson) to help first-time buyers. And IBM’s partnership with Sandvik to combine analytics from IBM Watson IoT and equipment/application data from disparate sources so mining firms can analyse patterns and improve safety, maintenance, and productivity. Notably, IBM also announced a very large Cloud deal with BNP Paribas.

At the same time, IBM continues to shrink parts of the business that do not support its strategic growth areas – for example by selling off more parts of its software business.

There is without doubt progress in the right areas with the right actions being taken. However, Big Blue is an enormous oil tanker, and turning it around is no small job.

Posted by Kate Hanaghan at '09:55' - Tagged: cloud   AI   Watson  

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Wednesday 17 April 2019

Breezy HR acquisition for LTG

logoThe shape of the Learning Technologies Group (LTG) business has changed following several acquisitions, not least the successful PeopleFluent purchase of 2018  that enabled the company to extend into the buzzing talent management area from its existing digital learning base. It is investing in the talent sector once again with the acquisition of US HQ’d Breezy HR which brings talent acquisition in the form of recruitment software to optimise the recruitment process.

Breezy HR’s SME footprint takes LTG into the SME market from its enterprise base, and with its US base and presence in 72 countries it also plays to LTG’s geographic expansion aims.

With cash and bank facilities to hand, LTG paid $12m cash for the company; potential performance based payments could take the total to a maximum of $18m. For the year to 31 December 2018 Breezy HR reported revenue of $3.6m (vs. $1.3m) with EBIT of $280k (vs. $826k loss) as it scaled the business, where 80% of revenue is recurring.

This is a multi-purpose acquisition because in addition to further talent management capability, taking LTG into the SME market and contributing to expansion in the US and beyond, LTG says the acquisition will support its strategic goal of reaching a run-rate EBIT of at least £55m by the end of 2021. 

Breezy HR will operate as a business within PeopleFluent, part of the growing software and platforms part of the LTG business that comprises 64% of the overall business and delivered 9% organic growth in FY18 (see LTG FY18: confidently building the business).

Organisations are increasingly recognising the value of their people and investing in attracting, retaining and developing them, a trend LTG is determinedly tapping into. Combine this with the financial means to acquire and previous statements that it has a pipeline of prospects and we would expect further acquisitions in due course. 

Posted by Angela Eager at '09:10' - Tagged: acquisition   software  

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Wednesday 17 April 2019

Universe overcomes setback to deliver

UniverseThis time last year we outlined how British financial tech company Universe Group was looking to better times as 2017 contract delays would likely turn into 2018 deliveries and revenue.

Full year 2018 results out today, confirm this and show the business overcoming the set back of the demise of Conviviality (and associated £2m order) at the start of the year to deliver a positive set of results. Total revenue rose to £19.9m (2017 £19.6m) with adjusted EBITDA up to £2.7m (2017 £2.4m)

Southampton-based Universe provides point of sale, payments and loyalty systems to some 5,700 retail sites across the UK through its trading arm, HTEC Limited. The company is particularly strong in the petrol forecourt market boosted by the roll out of its Gempay 3 system having now installed approaching 3,000 devices.

Operational highlights for the year include signing up Euro Garages for payment processing services rolling out across 370 UK forecourts with 540 Gempay 3 terminals. The company also launched partnerships with P97and Ubamarket in the fields of mobile and in-car marketing and payment solutions and in-store scan-and-go applications.

Post year-end on 3rdApril, Universe acquired Dublin based Camden Technology (trading as Celtech) for just under £5m, an acquisition that allows the company to offer clients cloud-based retail and wholesale management (RMS) technologies and crucially extends the Group’s reach into Ireland.

Posted by Marc Hardwick at '09:00' - Tagged: results   retail   payments  

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Wednesday 17 April 2019

Hack casts a cloud over Wipro results

LogoPresenting the company’s FY19 results yesterday, Wipro senior management confirmed a story posted by cybersecurity investigation website KrebsOnSecurity of multi-month phishing campaign which breached the company’s corporate email system to launch attacks on around a dozen of the firm’s customers. Neither the names of affected clients nor details of the damage caused were reported, but Wipro has hired an independent forensic firm to assist with its investigations. Remedial actions have also been taken to limit and mitigate potential impacts.

As for FY19 itself, Wipro delivered a solid - if not spectacular - set of results. Adjusted constant currency IT Services revenue for the twelve months to 31st March was up 5.4% to $8.12b and operating margin improved by 180bps to a respectable 17.9%.

Despite further good progress on its rotation to “new” (digital, cloud and cybersecurity) services, which we estimate now account for c.25% of world-wide sales, Wipro continues to struggle to keep pace with its peers. Infosys and TCS delivered 9% and 11.4% increases in FY19 constant currency revenue respectively. On its current growth trajectory HCL, which will soon report its 2019 results, is set to overtake Wipro and bag the number four position in the Indian offshore services rankings.

From a regional perspective, the Americas, which represents 57% of the company's global business, was the star performer growing by nearly 10% against FY18. Europe, conversely, proved far more challenging for Wipro. FY19 turnover here was up by only 2.6% against the prior year and Q4 revenues fell by around 3% both sequentially and yoy.

Looking forward, Wipro is not anticipating a fast start to its new financial year. Sequential Q1 20 top line growth is expected to land in the -1.0% - 1.0% range, excluding the impact of the divestment of its Workday and Conerstone On Demand business (see here) concluded at the end of March. For now, however, dealing with the fall-out from the hack will be at the top of the firm’s agenda.

Posted by Duncan Aitchison at '08:54' - Tagged: results   offshore   cybersecurity  

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Wednesday 17 April 2019

r8 raises $5m and plots an early IPO

UK FinTech, r8, has announced a new cash injection of $5m. The additional capital was provided by existing shareholders and a number of new investors. r8 was formed in 2017, having initially been part of Redwood Bank, the "challenger" set up by property developer and former Conservative party treasurer, David "Spotty" Rowland, and his son Jonathan. Jonathan Rowland is now the Chairman of r8.

r8r8’s core project is ‘Mode’, a financial services ecosystem that aims to become a fully regulated, UK-based institution, providing banking and financial services to holders of both traditional and crypto-assets. In 2018, r8 launched JGOO, a mobile payments platform providing access to the Chinese market, connecting UK and European brands to Chinese consumers. JGOO has secured partnerships with Tencent for WeChat and Alibaba for AliPay.

The latest cash injection will be used to help r8 expand its operations and prepare for its planned LSE listing. London based, r8, intends to launch an initial public offering as early as July. Meanwhile, r8 has announced the appointment of Biz Stone, the co-founder of Twitter to the position of non-executive director. Stone, is also an investor in r8 and has previously backed a number of other tech startups.

The flow of investment into the FinTech space shows no real sign of slowing, despite the maturity of the economic cycle. There has however been something of a "flight to quality" of late, with an increased focus on more mature companies and a reduction in the overall proportion of startup funding (see: FinTech funding continues to grow). r8 meanwhile, is bullish about its prospects and the proposed IPO also looks ambitious, coming so early on in the company's development. It will be interesting to see whether the market shares r8's confidence in its fledgling offerings and business prospects

Posted by Jon C Davies at '07:55' - Tagged: funding   cryptocurrency  

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Wednesday 17 April 2019

NETFLIX shares down as it faces increased competition

NetflixI only cover Netflix as it’s the ‘N’ in FAANGs - the rest of which are of great interest to us.

Last night NETFLIX posted some pretty good Q1 figures as international subscribers rose to 88.1m - more than expected. Revenues rose 22% to $4.5b and profits were up 19% at $290m.

All sounds very good until you come to the outlook for Q2 which pointed to slower growth and lower than expected profits - causing NETFLIX’s share price to fall 5% in after-hours trading.

The ‘problem’ is that NETFLIX faces mounting competition. We already know that both Disney and Apple will add paid-for streaming services soon. Added to that is the upcoming BBC/ITV/Ch4 BritBox service. The problem in our household is that all these services involve more and more to be paid out on subscriptions to add to the BBC Licence fee, Netflix, Amazon Prime and Sky - which already cost us over £1000 pa. Most households couldn’t (or maybe ‘shouldn’t’) afford that. Then it all comes down to content - which does make one realise what incredible value for money we get from the BBC!

Posted by Richard Holway at '07:53'

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Wednesday 17 April 2019

DON'T MISS OUT ON THE SERIES A GROWTH CHALLENGE!

Just ONE week left to see if you could be the next Great British Scaleup!

logoSince the launch of our Great British Scaleup programme, 40 high-potential UK tech SMEs have elected to share their business plans with TechMarketView research directors and entrepreneurs from our partners, ScaleUp Group, to help them improve the chances of getting growth funding.

We’ve achieved our best success with Series A funding prospects, so we are dedicating our sixth Great British Scaleup event to those UK tech SMEs that envisage needing Series A funding within the next 3-18 months.

Here’s how it works.

You need to apply to attend a Pre-Qualification Session. This is a 90-minute, in-depth confidential review with TechMarketView and ScaleUp Group. We’ll ask you to take us through your business plan to understand why you believe you can rise to the “Series A Growth Challenge”. The most promising candidates will be invited by ScaleUp Group for further discussion with a view to mapping out a path to funding.

We will be holding Pre-Qualification Sessions at the offices of industry association techUK in London on 22nd May 2019.

What’s in it for me?

You’ll get the benefit of an independent, constructive critique of your business plan by some of the UK’s most respected market analysts and successful entrepreneurs absolutely free. Time and again we are told by Great British Scaleup candidates that this is insight ‘money can’t buy’. Indeed, our advice has often become an integral part of the company’s strategy. You can see plaudits from previous Great British Scaleup candidates on our website.

In addition, every company selected to attend a Pre-Qualification Session will get coverage by TechMarketView in UKHotViews, arguably the most influential daily commentary on the UK tech scene, and also through our social media channels. UKHotViews reaches thousands of executives, professionals, investors and entrepreneurs in the tech sector every working day, as well as Government, commercial enterprises and the media. Time and again we are told that coverage by TechMarketView ‘starts the phones ringing’.

Who is eligible?

You must be a fast-growing, privately-held UK-headquartered tech SME with recurring revenues of circa £1m p.a., growing by more than 30% p.a. The company Founder/CEO/MD and at least one other member of the executive team must be available to attend the Pre-Qualification Session if selected. Companies not meeting the criteria are welcome to apply for consideration in future programmes.

How do I apply?

You need to complete our online application form here. Entries close on Wednesday 24th April. Successful applicants will be notified by Wednesday 8th May. There is no fee required.

Apply now for the Great British Scaleup Series A Growth Challenge and turn your business plan into a growth opportunity!

For further information and FAQ, please see our website here.

About ScaleUp Group

logoScaleUp Group was formed by experienced entrepreneurs to “Grow Global Champions” by offering unrivalled knowledge, insights and connections to technology companies who have the ambition to scale up. Founded by experienced entrepreneur John O’Connell, ScaleUp Group members include award-winning Fintech entrepreneur Lisa Powis, software entrepreneur Martin Fincham, prolific tech investor Nick Kingsbury, and serial fintech entrepreneur Duane Jackson, among many others. ScaleUp Group members have been involved in successful exits totalling over £4bn and can call upon a network of over 100 UK and international investors to find the ‘right fit’ for a scaleup business. Contact: Paul Excell, paul@scaleupgroup.co

About techUK

logo`techUK represents the companies and technologies that are defining today the world that we will live in tomorrow. More than 900 companies are members of techUK. Collectively they employ approximately 700,000 people, about half of all tech sector jobs in the UK. These companies range from leading FTSE 100 companies to new innovative start-ups. The majority of our members are small and medium-sized businesses. techUK is a proud supporter of the TechMarketView Great British Scaleup programme.

Posted by HotViews Editor at '00:00'

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Tuesday 16 April 2019

Topping the global rankings for 'inward investment' is not such a 'good thing'

Inward InvestmentDid you see the headline today in The Telegraph which read  ‘UK tops global ranking as best investment destination despite BREXIT uncertainty’? According to an EY study, the UK has grabbed the top spot for 'inward investment' for the first time and now represents 10% of a $400b global market.

Great, you might say.

If you have read my fumings about such statistics over many decades, you will understand why this is really not so great.

The methodology measures M&A activity. In other words more UK businesses have been acquired by overseas companies than for any other country. Indeed the Top Deal was Comcast buying the UK’s SKY for £30b/$40b. Is this really inward investment? Do you think this is unreservedly ‘good’ for the UK?

Then the ‘despite BREXIT uncertainty’ bit. BREXIT has caused the £/$ exchange rate to slump by c13% since the Referendum nearly 3 years ago. In other words UK companies are now c13% cheaper as a direct result of BREXIT.

I completely recognise that foreign ownership can be very good for UK businesses - just look at JLR. I also recognise that the UK buys overseas as well. But in my 50 years in the tech sector I have seen practically all our best tech companies acquired by overseas entities. I still mourn the sale of ARM to Softbank in 2016. HMGovt claimed that too as ‘inward investment’ and a major accolade for UK tech.

I beg to differ.

Posted by Richard Holway at '20:58'

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Tuesday 16 April 2019

New CEO at Unit4: Mike Ettling

logoUnit4 has appointed Mike Ettling as its new CEO. He takes the reins from Stephan Sieber, CEO since 2016.

Ettling is well known and respected within the industry - and by TechMarketView - from his time with NGA HR as chief executive and as president of SAP Successfactors. With a background in cloud HCM he is a very good match for Unit4’s focus on people-centric organisations and its SaaS growth ambitions.

imageHe joins at an interesting time for the company that was taken into private ownership in 2014 by Advent International. Having done much of the heavy lifting to modernise the software and open the platform up, Unit4 is looking to accelerate its cloud transition and build brand awareness within and particularly outside Europe but is aware there is work to do. It is building the business, most recently acquiring Intuo, which represented a significant switch-up in the HCM area (see Making HR conversational: Unit4 acquires Intuo).

As part of its expansion, the company has been developing the management team including appointing Mike Slater (previously MD of SAP UK/Ireland until March 2018) as COO in October 2018 with a remit to streamline global go-to-market execution. There have been changes too: Jeremy Roache stepped down from the role of chief product officer in early 2019 (but is a Unit4 advisor) and co-founder and former CTO of acquired Prevero Matthias Thurner moved into the positon. We would expect Ettling, who is experienced in growing global businesses, to bring new talent in as he scales and expands the global footprint of the business.

Unit4 is putting the pieces in place for the next phase of its development. It hosts its annual conference in May; we anticipate hearing more about Ettling’s plans then. 

Posted by Angela Eager at '14:33' - Tagged: software   appointment   leadershipchanges  

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Tuesday 16 April 2019

Medbelle secures $7m to expand healthcare services

Medbelle logoHealthtech startup Medbelle (MB Global Health) has secured $7m in Series A funding. The round was led by Signals Venture Capital with additional participation from Cavalry Ventures, IBB Beteiligungsgesellschaft, Mutschler Ventures, and Talis Capital.

Medbelle was founded by Daniel Kolb and Leander de Laporte in 2016. Its headquarters are in Berlin, but its service is currently focused on the UK. The company provides a digital platform that allows private patients to view information about treatments and prices; provides care advisors to help guide patients through treatments; and helps healthcare providers schedule treatments and manage payment processes. 

The business currently focuses on cosmetics, bariatrics and ophthalmology but it intends to use the funding to expand into orthopaedics and fertility. It also plans to accelerate the development of its platform and explore international expansion. In the future, Medbelle intends to leverage its technology and services to secure business with the NHS and with private medical and public insurance providers.

Posted by Dale Peters at '10:04' - Tagged: funding   startup   healthcare  

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Tuesday 16 April 2019

*UKHotViewsExtra* New Parity CEO, Bayfield, making his mark

Parity logoParity’s new CEO Matthew Bayfield is making his mark. And investors have shown their confidence with shares up nearly 8% in early trading. Despite achieving c3% growth in revenues for the full year, the results highlight the challenges Bayfield faces in reshaping the business.

HV Premium logoBut an impressive appointment to Head of Consulting, and a clear route map for the business, means there is a very different feel to the ‘new Parity’. It will be important to get that message across to the market – clients, prospects, and potential recruits alike.

TechMarketViews’ subscribers (including UKHotViewsPremium subscribers) can read more in UKHotViewsExtra: New CEO, Bayfield, making his mark at Parity.

Posted by Georgina O'Toole at '09:57'

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Tuesday 16 April 2019

Telit grows revenue 14%, shrinks losses

Telit grows revenue, shrinks lossesTelit confirmed its turnaround is on track with its final FY18 results, which saw turnover up 14% yoy to US$427m and pre-tax losses shrink to US$40m.

The recent US$105m sale of its automotive division to TUS International came too late to make a contribution to those numbers, and Telit’s net debt expanded to US$34m from US$30m in FY17.

That year saw Telit’s previous momentum grind to a halt, prompting the Internet of Things (IoT) connectivity specialist to undertake a cost optimisation programme and integration of its hardware and software businesses that appears to have reaped rewards.

Management highlighted new partnerships for fifth generation (5G) and narrowband-IoT (NB-IoT) communications modules with China Unicom and Qualcom, as well as new product certifications from Deutsche Telekom and unnamed US mobile operators, as further reasons to be optimistic for FY19.

With a reduced cost base, healthier balance sheet and stabilising gross margins, Telit does look like it is on a strong footing for the current year - more so considering the investment that many telcos, mobile network operators, service providers and some large corporations enterprises are putting into IoT deployment (read our reports outlining IoT market development and service provision here).

Posted by Martin Courtney at '09:41' - Tagged: iot   resullts   Telit   5G   FY18  

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Tuesday 16 April 2019

HR platform Howamigoing raises £1.1m

How am I going?London-based HRTech platform Howamigoing, has raised £1.1m in funding led by angel investors Chris Hadley (founder, Quadrant Capital) and Richard Elmslie (CEO, Rare Infrastructure). 

Founded by ex-investment banker Julian Cook the Howamigoing platform was launched last year and is designed to help companies and their employees better manage appraisal feedback and performance management. The offer is designed to help take the pain out of the process, saving time and effort and therefore making it more effective. 

Annual appraisal and performance review processes are of course great in theory but often fall down in the way that they are delivered and managed, often down to the time that everyone involved has to commit beyond the ‘day job’. Howamigoing’s approach to solving this issue seems to be all about using personalisation (based on the user’s individual psychological profile), slick UX and regular communication with users. It also has a pretty simple pricing model based on the number of users - £500 per year for up to 25 users, £100 per user per-year for mid-size businesses and then bespoke plans for corporates.

Howamigoing is part of the North-East Ignite Accelerator and already has an impressive list of client ‘badges’ on its website including Lloyds Banking Group, Tesco, J.P.Morgan, Just Eat and Google.

Posted by Marc Hardwick at '09:05' - Tagged: funding   startup   hrtech  

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Tuesday 16 April 2019

NHS introduces new digital services

NHS logpNHS Digital and NHS England have announced plans to introduce new digital services to help improve the accessibility of health and care information.

A new digital portal is being rolled-out by the NHS and local authorities to allow health and social care staff to see how many vacancies there are in local care homes in real time. The service is intended to help minimise the number of Delayed Transfers of Care and minimise the amount of time discharge teams waste on ringing care homes to check availability.

The Capacity Tracker tool was developed by NHS North of England Commissioning Support Unit (NECS) in partnership with NHS England North, local authorities and care home providers. It was piloted in the North, Devon and Berkshire last year and over 6,250 care homes have already signed up to the system. It was selected as the preferred solution for CCGs across England (if they do not already have a web-based care home bed tracker) towards the end of 2018 and has now been made available across England.

A service to help make child health information available through a new digital platform has also been announced. Using the NHS National Events Management Service, parents and health professionals will be able to receive information on key health notifications and interventions for children. It is intended to improve the speed of diagnosis and treatment by giving health visitors and parents access to the same information sources at the same time.

The service has initially launched in North East London in partnership with North East London Foundation Trust (NELFT) and is being supported by Servelec, Sitekit and System C. The system provides near real-time birth notification data, which will enable health visitors to visit parents sooner. Data is also forwarded to a digital red book offered to parents as an alternative to the current paper red book.

NHS Digital will be working with suppliers to help roll out the service more widely—further information is available here.

Posted by Dale Peters at '09:03' - Tagged: nhs   healthcare   digital  

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Tuesday 16 April 2019

Manx snaps up Synapse 360

Manx snaps up Synapse 360 Communications solutions provider Manx Telecom acquired its Isle of Man neighbour and managed service provider Synapse 360 for an undisclosed sum.

The deal adds a range of infrastructure and cloud components to Manx’s enterprise portfolio, including desktop (DaaS) and disaster recovery as a service (DRaaS) alongside network security, hybrid cloud and hyper converged data centre solutions built on Dell EMC, VMware, Cisco, F5 Networks, Microsoft and Citrix technology,

AIM-listed Manx Telecom offers connectivity and managed services to almost 85,000 residents and 4,000 businesses on the island. It runs three data centres and has initiated a fibre broadband rollout which has reached around 13% penetration to date.Manx snaps up Synapse 360

The company grew its FY18 revenue 3.8% yoy to £82m, with pre tax profit flat at £11.6m. It now has the ambition (and potentially the financial backing) to expand its turnover after recommending shareholders accept a £256m takeover bid from investment firm Basalt Infrastructure Partners last month.

With offices in the Isle of Man, Jersey, Manchester and Edinburgh, the Synapse 360 acquisition adds a range of UK enterprise customers including London Luton Airport and Stockport College, and should give Manx a base to help grow its business both on the mainland and the offshore financial sector.

Posted by Martin Courtney at '08:59' - Tagged: acquisition   managedservices   telecommunications   ManxTelecom   Synapse360  

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Tuesday 16 April 2019

Kainos set to make it nine in a row

LogoUK-based provider of IT, consulting and software solutions Kainos Group plc has issued an upbeat assessment of its performance for the year ended 31 March 2019. Building on an impressive first half, which saw yoy revenue jump by 62% (see here), trading in the FY continued in line with market expectations underpinned by a strong sales performance.  There would seem to be little question that the company will report a ninth consecutive year of growth in people, customers, revenue and adjusted pre-tax profit come the 28th May 2019.

Expansion of Digital Services has been strong, driven by both Digital Transformation and Workday Services, and with sustained momentum across government, commercial and healthcare sectors. The international client base for these offerings continued to develop, supported by the company's broadened European and North American footprint. Sales of the Kainos Smart platform, an automated testing tool for the Workday product suite, have also had a good year.

The total numbers of staff, both permanent and contingent, at the end of March was up to nearly 1500 people, a 25% increase from the beginning of the FY. At this rate of headcount expansion, completion of the development of Kainos’s newly acquired headquarters site in Belfast - due in spring 2021 – will be becoming increasingly eagerly awaited.

Six weeks from now, the full details of the company’s FY19 results will no doubt make for a very positive read.

Posted by Duncan Aitchison at '08:57' - Tagged: systemsintegration   tradingupdate  

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Tuesday 16 April 2019

Salesforce.com buying philanthropic reseller Salesforce.org

logoThe facts of Salesforce.com’s proposed acquisition of philanthropic reseller Salesforce.org which provides heavily discounted or free software to nonprofits and education are clear enough.

Salesforce.com is paying $300m for the company that will operate within Salesforce.com as a vertical serving NfP and education, led by current Salesforce.org CEO Rob Acker. Its status will change from a public benefit organisation to a business corporation. The move will add $150m-$200m to Salesforce.com’s FY20 top line (and it is raising guidance as a result) but the low margin business will cut into the bottom line so the adjusted profit forecast has been reduced. The $300m being paid for the company will go to the Salesforce Foundation which funds philanthropic projects.

In terms of the rationale, management says the move has been planned for some time with the aims of simplifying operations and scaling up philanthropic efforts.  

The incoming business will operate as a vertical segment, indicating Salesforce.com plans to extend its vertical lineup that includes Financial Services Cloud and Health Cloud, and grow its footprint within NfP and education. Salesforce.org had revenue of $250m in FY18 so there is business to be gained and there is a move across the wider software sector towards vertical go-to-market approaches and solutions. The new vertical unit will take the Customer Success Platform to its sector and develop vertical applications. Salesforce.com says it will continue to provide free and discounted software yet according to comments made during the conference call to discuss the transaction, it is also anticipating raising the operating margin over time.

Philanthropy has been a guiding principle under founder and co-CEO Marc Benioff and we can't see that changing so the question is what has to give to maintain both growth and margin objectives? 

Posted by Angela Eager at '08:52' - Tagged: acquisition   education   saas   cloud   software  

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Monday 15 April 2019

Quiet confidence from cautious Sanderson Group

logoRetail and manufacturing sectors are having a hard time of it, making confidence hard to find. But based on strong H1 momentum, a healthy order book and cash growth, cautious Sanderson Group who targets this sectors, is quietly confident of ongoing progress through the year.

That confidence is based on 16% revenue growth to £17m in H1 (to 31 March 2019) generating operating profit up 33% to £2.8m, according to the pre-close trading update, cash reserves growing and a healthy £8m sales order intake. The company moved to IFRS 15 on a modified retrospective basis in October 2018 (which means prior year comparatives have not been modified) however on a like for like basis (excluding the impact of IFRS 15), revenues still rose c.15% to £16.9m with operating profit up over 20% to £2.5m. The company had a tough time during 2017, made much progress in 2018 and the first part of 2019 is ahead of management expectations.

Once again the Digital Retail division was a growth driver with double digit revenue and operating profit growth. It benefitted from increased sales and marketing investment but the level of increase indicates retailers are prepared to invest to survive this difficult period. The Enterprise division was described as making “good progress”. Manufacturing saw sales order intake rise 10%, with the food & drink processing. sector performing particularly well. The supply chain logistics business which was strengthened by the Anisa acquisition of November 2017 started the year well and is expected to continue that way. The wholesale distribution market is showing interest in the suite of products Sanderson launched during 2018.

Further detail will be available when the full H1 results are released on 15 May when there may be further insight into how interest into the new offerings is being converted, but things are going well for Sanderson. Its progress demonstrates the merit of mid market software suppliers picking and sticking to a selection of vertical markets, and offering good value solutions. 

Posted by Angela Eager at '09:53' - Tagged: erp   software   tradingstatement  

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Monday 15 April 2019

Crossword starts strong from small base

Crossword starts strong from small baseNewly AIM-listed Crossword Cybersecurity saw revenue rise 45% to £1.07m in its first annual statement as a public company, though associated administrative expenses pushed losses out to £2.1m.

Founded in 2014 Crossword focusses on developing and commercialising academic research-based cyber security projects. Its lead product Rizikon Assurance – a SaaS based cyber maturity and GDPR readiness platform – delivered the majority of its FY18 turnover, supplemented by a much small volume of consulting revenue.

Crossword has a second product Nixer – an application distributed denial of service (DDoS) platform – under development and says it has identified over 1,000 cyber security ventures from universities in the UK, Europe and USA which could potentially be commercialised.

Two of its projects with Coventry University (CyberOwl) and the University of Warwick (ByzGen) have already yielded new companies which have received investment of their own.

Despite the deadline for demonstrating GDPR compliance being last May, TechMarketView believes that many UK organisations are still not up to speed with the new regulation (see our Security, Networking and Cloud Predictions 2019 report), while Crossword estimates the potential addressable market for Rizikon Assurance alone at £300m across 10k companies.

The £4.16m raised for its AIM admission has been invested in growing headcount and accelerating sales and marketing activity for FY19. But given the pace and complexity of the cyber security market (read our Cyber Security Market Trends and Forecasts to 2021 report here), we think the long term test of Crossword’s success and future expansion is more likely to depend on how quickly it can bring those new, innovative products and services into play.

Posted by Martin Courtney at '09:48' - Tagged: results   GDPR   FY18   CrosswordCybersecurity  

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Monday 15 April 2019

Early Bird ticket sales close at the end of April - Don't miss out!

TechMarketView LogoWith less than three weeks to go until our Early Bird ticket sales close for our 2019 'An Evening with TechMarketView', we don't want you to miss out! So, secure your place now or be sure to book by 30 April. 

If you are a TMV client or subscribe to UKHotViewsPremium or if you're one of our Little British BattlersGreat British Scaleups or Innovation Partner Programme companies you will be eligible for TMV event rates.

More than 200 of UK tech’s ‘great & good’ are expected to attend the evening event which has become a popular fixture in the tech calendar and has been described by attendees as “the best networking event in the industry”. 

With our theme for the year 'The Year of the Relationship', what better way to network with your peers and gain expert insight on the latest tech trends. 

TMVE2018 Photo

Early Bird Rates: Book by 30 April 2019

Early Bird rates for a table of 10 and individual tickets are available and you can book here or contact our event management partner, tx2events on T: 020 3137 2541. For more information please click here.

Event Details:

Date: Thursday 12 September 2019
Venue: Royal Institute of British Architects, London
Registration & Drinks Reception: 6:30pm sponsored by InterSystems. This will be followed by the speaker sessions and a first-class dinner. 

The TechMarketView Evening is proudly sponsored by:

InterSystems Logo Aqilla Logo Kimble App Logo

    

Posted by HotViews Editor at '09:30'

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Monday 15 April 2019

Infosys finishes with a flourish

LogoBangalore-based offshore services major Infosys beat the top end of its most recent guidance (see here) to deliver 9% constant currency revenue growth for FY19 (the twelve months to 31st March). A yoy increase in Q4 sales of over 11% helped lift annual turnover to $11.8b. Operating margin for the year, however, eased back 150 bps against FY18 to 22.8%.

Overall, CEO Salil Parekh has much to be happy about at the end of his first full financial year at the helm (see here). Digital services revenues surged ahead by over 40% during FY19 and now represent more than a third of total turnover. Of concern, however, is the level of annualised employee attrition. This continues to track northwards and now sits at over 20%, almost double the rate achieved by peer group leader TCS over the same period.

From a geographic perspective. Europe was the best performing region increasing its revenues by just shy of 10% compared with FY18. Quarterly yoy growth comparisons here have, however, dropped progressively through the year from a high of 15.8% in Q1 to just 5.6% in Q4. Conversely North America, which accounts for over 60% of Infosys’s turnover world-wide, saw momentum build through FY19 with sales up 12.4% yoy in the final quarter.

Looking ahead, the company is expecting more of the same in FY20 with revenue growth in the range of 7.5%-9.5% in constant currency and operating margin in the range of 21%-23%. Infosys senior management both believes that its investments have started yielding benefits and plans to deploy various measures to improve operational efficiency across the business during the coming months. The latter will be important if the firm is to reverse the continuing decay in operating margin of the past three years.

Posted by Duncan Aitchison at '09:13' - Tagged: results   offshore  

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Monday 15 April 2019

TCS breaks through the $20bn a year mark

TCSTCS’s FY 19 results were published right at the end of last week and show the company breaking through the symbolic $20bn a year global revenue mark for the first time.

TCS posted FY 19 revenue of $20.9bn ($19.1bn FY18) up 9.6% Y-o-Y (+11.4% in constant currency). FY 19 Operating Margin was a very healthy 25.6% (up 79 bps Y-o-Y) whilst revenues from digital services grew almost 51% and now account for around 29% of total revenue.

The UK was again the star performing geography with revenue here growing by 22% in constant currency during the year. We now estimate that the UK business is worth around £2.5bn a year to TCS. 

TCS has added a string of mega deals over the last couple of years particularly in the Life and Pensions space boosted further by November’s expansion of its deal with Phoenix. But even more encouraging is the variety of UK wins referenced in the results. New UK contracts recently added include: transformation deals with Ageas Insurance and Seadrill (a deep water drilling company), a major UK telecoms provider, a British Pharma company and a major British retailer.

Globally TCS now has an impressive 44 clients (38 in FY 18) each worth over $100m a year in revenue to the company. The scale of new orders and the number of client additions has set TCS up nicely for the coming year and we expect to see the growth momentum continuing. 

Finally, having made two acquisitions last year (including UK digital agency W12) TCS announced that it remains “hungry" for further buys and is scouting for assets that will either bring in IP or widen market reach.

Posted by Marc Hardwick at '09:01' - Tagged: results  

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Monday 15 April 2019

NTT's itelligence expands SAP capabilities with Weaveability

itelligenceThe UK arm of itelligence, a wholly owned subsidiary of Japan’s NTT DATA Group, has acquired a majority interest in, Manchester based, SAP partner, Weaveability Ltd. Weaveability has been around since 2009, providing consulting, application management, hosting, licensing and maintenance around SAP implementations. The company has also developed a range of solutions, called Omnia, which are complementary to elements of the SAP portfolio. Weaveability services customers in the retail, wholesale, distribution and consumer goods sectors. The amount of the deal was not disclosed.

itelligence is a SAP specialist, providing implementation, application management and managed cloud services. In 2018, it received three SAP Pinnacle Awards, including SAP Global Platinum Reseller of the Year. There is a very healthy market for SAP services in the UK, with sector estimated to be worth in excess of £2bn (see: SAP InnovationX). This latest acquisition should help itelligence to enhance its UK market position, by strengthening its CRM and e-commerce capabilities.

Posted by Jon C Davies at '08:48' - Tagged: acquisition   M&A   SAP  

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Monday 15 April 2019

European technology sector M&A activity holds strong

March M&A M&A activity in the European technology sector remained strong during March, according to the latest statistics from corporate finance firm Regent Partners. Although the monthly deal volume dipped slightly on the first two months of the year, activity levels remain above average compared with the last two years. Meanwhile, at the end of March 2019, the aggregate deal value reflected a slight increase overall.

Valuation multiples, compared to the Price/Sales ratio, were down from 2.0x in February 2019 to 1.6x in March. In the same period, the Price/EBITDA ratio rose from 8.8x in February to 9.5x in March. Meanwhile, valuations of listed technology companies, represented by the UK TechMark index, rose by another 1.5% during March 2019.

HVPThere were a number of interesting UK SITS deals during March, including Civica’s acquisition of TranSend, Rigby Group’s sale of FluidOne to Livingbridge and Servelec’s disposal of its Technologies and Controls arm. TechMarketView subscribers, including those with access via UKHotViews Premium, can read our commentary on recent deals by searching on ‘acquisition’ in the UKHotViews archive.

Posted by HotViews Editor at '07:05' - Tagged: acquisition   M&A  

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Monday 15 April 2019

HAVE YOU RISEN TO THE SERIES A GROWTH CHALLENGE?

Just 10 days left to see if you could be the next Great British Scaleup!

logoSince the launch of our Great British Scaleup programme, 40 high-potential UK tech SMEs have elected to share their business plans with TechMarketView research directors and entrepreneurs from our partners, ScaleUp Group, to help them improve the chances of getting growth funding.

We’ve achieved our best success with Series A funding prospects, so we are dedicating our sixth Great British Scaleup event to those UK tech SMEs that envisage needing Series A funding within the next 3-18 months.

Here’s how it works.

You need to apply to attend a Pre-Qualification Session. This is a 90-minute, in-depth confidential review with TechMarketView and ScaleUp Group. We’ll ask you to take us through your business plan to understand why you believe you can rise to the “Series A Growth Challenge”. The most promising candidates will be invited by ScaleUp Group for further discussion with a view to mapping out a path to funding.

We will be holding Pre-Qualification Sessions at the offices of industry association techUK in London on 22nd May 2019.

What’s in it for me?

You’ll get the benefit of an independent, constructive critique of your business plan by some of the UK’s most respected market analysts and successful entrepreneurs absolutely free. Time and again we are told by Great British Scaleup candidates that this is insight ‘money can’t buy’. Indeed, our advice has often become an integral part of the company’s strategy. You can see plaudits from previous Great British Scaleup candidates on our website.

In addition, every company selected to attend a Pre-Qualification Session will get coverage by TechMarketView in UKHotViews, arguably the most influential daily commentary on the UK tech scene, and also through our social media channels. UKHotViews reaches thousands of executives, professionals, investors and entrepreneurs in the tech sector every working day, as well as Government, commercial enterprises and the media. Time and again we are told that coverage by TechMarketView ‘starts the phones ringing’.

Who is eligible?

You must be a fast-growing, privately-held UK-headquartered tech SME with recurring revenues of circa £1m p.a., growing by more than 30% p.a. The company Founder/CEO/MD and at least one other member of the executive team must be available to attend the Pre-Qualification Session if selected. Companies not meeting the criteria are welcome to apply for consideration in future programmes.

How do I apply?

You need to complete our online application form here. Entries close on Wednesday 24th April. Successful applicants will be notified by Wednesday 8th May. There is no fee required.

Apply now for the Great British Scaleup Series A Growth Challenge and turn your business plan into a growth opportunity!

For further information and FAQ, please see our website here.

About ScaleUp Group

logoScaleUp Group was formed by experienced entrepreneurs to “Grow Global Champions” by offering unrivalled knowledge, insights and connections to technology companies who have the ambition to scale up. Founded by experienced entrepreneur John O’Connell, ScaleUp Group members include award-winning Fintech entrepreneur Lisa Powis, software entrepreneur Martin Fincham, prolific tech investor Nick Kingsbury, and serial fintech entrepreneur Duane Jackson, among many others. ScaleUp Group members have been involved in successful exits totalling over £4bn and can call upon a network of over 100 UK and international investors to find the ‘right fit’ for a scaleup business. Contact: Paul Excell, paul@scaleupgroup.co

About techUK

logo`techUK represents the companies and technologies that are defining today the world that we will live in tomorrow. More than 900 companies are members of techUK. Collectively they employ approximately 700,000 people, about half of all tech sector jobs in the UK. These companies range from leading FTSE 100 companies to new innovative start-ups. The majority of our members are small and medium-sized businesses. techUK is a proud supporter of the TechMarketView Great British Scaleup programme.

Posted by HotViews Editor at '00:00'

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