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TerraPower, the nuclear energy company founded by Bill Gates, has secured a further $650m in investment to develop its Natrium reactor.
Bill Gates was again involved with the funding round as were NVIDIA’s venture capital arm and HD Hyundai. This means that in total TerraPower’s private financing equates to more than $1.4bn. However, that number is multiplied even further when you factor in the $2bn of federal support from the US Department of Energy to accelerate the design and build of its first commercial Natrium reactor. The plant is being built in Wyoming and the plan is to have it operational by 2030.
Tech firms are hitting constraints with grid capacity and renewable energy availability. Nuclear offers a compelling alternative, providing carbon-free baseload power that runs constantly, unlike solar and wind. Activity by tech companies to support its development continues to be substantial and frequent. For example, earlier this month AWS and Talen Energy announced a long-term agreement that would see the energy firm deliver carbon free nuclear energy to support AWS’s Pennsylvania operations. And this week we saw Oklo – a firm that is backed by OpenAI CEO, Sam Altman that develops small modular reactors – raise $460m.
Posted by: Kate Hanaghan at 10:00
Tags:
funding
energy
datacentres
AI
A huge hoard of over 16 billion login credentials is reported to have surfaced on the web. The breach, potentially affecting users of Apple, Google, Facebook and other major platforms, was first identified by Lithuania‑based researchers at Cybernews. They discovered that more than 30 structured datasets had been posted to an online forum used by cybercriminals.
The files contain usernames, passwords and login URLs linked to a wide range of services. Many of the records in this collection are said to appear to be new, albeit the researchers found that the datasets were exposed only very briefly. The leaks are believed to be the work of multiple infostealers using malware designed to steal credentials directly from infected devices. This suggests that the breach remains an active risk.
The scale of the threat posed by cybercriminals has been much in the UK news of late. The three attacks on Marks & Spencer (see here), Co-op, and Harrods have the raised significantly public perception of the materiality of this issue. Recent cyber incidents affecting organisations like Synnovis, NHS Dumfries and Galloway, and the British Library have also demonstrated the real-world consequences of inadequate cyber resilience.
It is therefore concerning that the Cyber Security Breaches Survey 2025 published in April (see here) reported a decline in board-level responsibility for cyber security. The survey also observed that, despite increasing cyber risks, expenditure on prevention and protection remained flat across many industry sectors.
In our assessment of the UK government's recent announcement of the Cyber Growth Action Plan and additional investment of up to £16 million to boost the cybersecurity sector (see here), we highlighted a stark disconnect between policy ambition and market reality that needs to be addressed. There remains a large gap between cyber innovation and adoption, which is leaving UK organisations exposed. The news of this latest data breach is a timely, if unwelcome, reminder of the urgency for more concerted action.
Posted by: Duncan Aitchison at 09:36
Tags:
cybersecurity
London HQ’ed startup Cykel AI issued a trading update this morning on impressive 68.4% month-on-month growth illustrating the emerging enterprise appetite for its autonomous digital workers. The acceleration from demo activity to revenue conversion suggests the market is transitioning from experimentation to production.
Earlier this month we covered the launch of Eve, an autonomous AI sales agent designed to ‘revolutionise’ B2B sales operations and accelerate revenue growth. The firm’s expanding portfolio also includes Lucy (recruitment) and Samson (research analysis) all built on TaskOS - Cykel's proprietary AI agent infrastructure. Of the three agents, revenue growth is being currently driven primarily by Lucy it’s recruitment agent, highlighting the natural fit between AI automation and high-volume, process-driven functions. Recruitment's repetitive workflows and talent shortage pressures create ideal conditions for AI agent adoption. Indeed, we covered Capita’s launch of a recruitment-as-a-service tool built on Salesforce's Agentforce platform just a week ago.
Cykel’s enterprise agreement with contract research organisation Transpharmation and its expanding US customer base indicates scalability beyond early adopters. Converting 500+ demos into measurable revenue growth demonstrates product-market fit in a notoriously cautious enterprise segment. The firm’s proprietary TaskOS infrastructure also provides potential differentiation in an increasingly crowded AI agent market. However, this morning’s release also referenced the introduction of a new “Bitcoin treasury strategy” which to me raises questions about management focus amid the demands of rapidly scaling the business.
Cykel’s growth fits with the broader AI agent market momentum, though sustaining this will depend on client retention and expansion revenue. Cykel's multi-industry approach should position it for the anticipated AI agent proliferation, assuming its delivery quality maintains pace with client ambitions.
Cykel AI was co-founded in 2023 by Jonathan Bixby and Ewan Collinge. Bixby is a serial entrepreneur and active angel investor who also co-founded KOHO financial (a Canadian fintech company), Argo Blockchain (crypto miner) and a number of eSports organisations. Collinge is also co-founder of venture building Crowdform, AI startup Kondor AI, and advisor at carbon credit investment platform Ora Carbon (See - Cykel launches AI agents). The business has yet to turn a profit, posting revenue (for the year ending Jan 2025) of £817k, on a loss of -£2.6m.
Posted by: Marc Hardwick at 09:24
Tags:
trading update
AgenticAI
Posted by: UKHotViews Editor at 07:00
Spend intelligence platform provider, Rosslyn Data Technologies, has issued a trading update for FY25 (ended 30 April 2025) ahead of full-year results.
The AIM-listed company anticipates revenue growth of around 14% to £3.3m, alongside a marked reduction in adjusted EBITDA losses to £1.7m from the previous year's £2.5m deficit. The improved performance stems largely from higher-margin professional services and development work undertaken and a broader move away from lower margin contracts. In the previous financial year, revenue declined.
Despite the improvements, Rosslyn’s share price was down c.5.0% (at time of writing) as management acknowledged that the pursuit of larger enterprise clients is extending sales cycles. However, the firm’s Board remains confident about its prospects and believes the focus on sustainable, quality revenue growth positions the company well for the medium and longer term.
Posted by: Kate Hanaghan at 10:04
Tags:
tradingupdate
Posted by: UKHotViews Editor at 09:50
Assessing the UK government's announcement of the Cyber Growth Action Plan and additional investment of up to £16 million to boost the cybersecurity sector (see here), we see a stark disconnect between policy ambition and market reality that needs to be addressed.
The government's commitment is welcome—establishing a growth action plan led by experts from the University of Bristol and Imperial College London, alongside funding for CyberASAP and Cyber Runway programmes. With the UK's cyber sector already generating £13.2 billion annually and supporting 67,000 jobs, there's clearly existing momentum to build upon.
However, our recent Tech Confidence Index ((see *NEW RESEARCH* TechMarketView’s Tech Confidence Index highlights rising economic challenges for UK firms | TechMarketView) reveals a concerning gap between government priorities and business reality. While 84% of UK tech companies plan to invest in AI/GenAI, only 40% are prioritising cybersecurity investment. Meanwhile, the Manufacturing Momentum Report 2024 shows cybersecurity ranking dead last among manufacturing priorities at just 1%, while leadership and skills challenges dominate at 24%.
This disconnect is dangerous. Recent cyber incidents affecting organisations like Synnovis, NHS Dumfries and Galloway, and the British Library demonstrate the real-world consequences of inadequate cyber resilience. The NCSC managed 430 cyber incidents in the past year, with 89 classified as nationally significant.
The Cyber Growth Action Plan's success hinges critically on implementing the forthcoming Cyber Security and Resilience Bill (see Government outlines new Cyber Security and Resilience Bill | TechMarketView). Without regulatory teeth to drive demand, even the most innovative UK cyber companies will struggle to find willing customers among organisations that consistently deprioritise cybersecurity spending.
The Bill's proposal to bring 900-1,100 managed service providers under ICO regulation, strengthen supply chain security requirements, and designate high-impact suppliers as 'designated critical suppliers' should create compliance-driven demand. However, the challenge runs deep.
The government's own Cyber Security Breaches Survey 2025 (see 2025 Cyber Security Breaches Survey: Rising ransomware and declining board responsibility | TechMarketView) reveals that only 27% of UK businesses now have board-level cyber security responsibility, down from 38% in 2021. With cyber budgets remaining flat despite rising threats, the sector faces a fundamental awareness problem that won't be solved by supply-side investment alone.
The government's establishment of the Government Cyber Advisory Board, featuring experts from BAE Systems, Microsoft, and Google DeepMind, alongside regional technology clusters, represents important supply-side coordination. However, most announced measures focus on creating cyber companies rather than cyber customers.
The few demand-side drivers are significant but limited: the Cyber Security and Resilience Bill creating compliance requirements, the government acting as lead customer through initiatives like the NHS Cyber Security Charter, and public sector procurement demonstrating market leadership. Yet, the government’s own preparedness for cyberattacks is considered dangerously inadequate, making the state's ability to lead by example challenging (see UK government cyber resilience lagging behind).
For investment to truly catalyse growth, three conditions must align: strong regulatory enforcement driving compliance demand, continued skills development addressing talent shortages, and, crucially, cultural change elevating cybersecurity from afterthought to strategic priority in UK boardrooms.
Recent enforcement action suggests regulators are getting serious about penalties—the ICO's £2.31m fine against 23andMe for failing to implement basic multi-factor authentication sends a clear signal. However, continued high-profile breaches like the Legal Aid Agency attack, exposing sensitive data from hundreds of thousands of applicants show that even regulatory action isn't yet changing organisational behaviour at the pace required.
Without this trinity of regulation, skills, and cultural change, even £16 million risks being insufficient to bridge the gap between cyber innovation and adoption, leaving UK organisations exposed.
Posted by: Georgina O'Toole at 09:49
Tags:
investment
policy
government
cyber
cybersecurity
cybertech
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Infosys and decade-long partner Adobe have announced a what is described as a strategic collaboration focused on the global brand marketing arena. The joint push sees
the bringing together of Infosys Aster™, a set of AI-amplified marketing services, solutions and platforms, with the capabilities of the Customer Experience (CX) software provider’s products. The combined offering seeks to deliver the unification of customer experience at scale, the better personalisation of content and the streamlining of workflows across the marketing lifecycle.
The features of this combined proposition are certainly on-trend. Our most recent report on the CX market (see here) identified both the growing focus on omnichannel experience enabled by unified customer data platforms and the pursuit of hyper-personalisation to deliver advanced analytic-based individualised customer journeys as key demand drivers.
There is a clear recognition within the consumer packaged goods sector of the pivotal role that CX can and must play in driving sales, building loyalty, and shaping brand perception. Increasingly, the leverage of AI is being seen as key to addressing simultaneously these ambitions and the marketing arena has been quick to appreciate the transformational possibilities of the latest technological wave. This opportunity has not gone unnoticed by the supply side. The Infosys-Adobe collaboration will not be short of competition in what continues to be one of the more resilient segments of the SITS market.
Posted by: Duncan Aitchison at 08:53
Tags:
marketing
AI
partnership
customer+experience
Ankar AI has raised £3m in a seed round led by Index Ventures with participation from daphni, Motier Ventures, BOOOM and Puzzle Ventures and some angels, highlighting the growing intersection of AI and intellectual property management. The London-based startup, founded by Palantir alumni, addresses a compelling market need as patent filing volumes surge alongside AI-driven innovation.
Ankar's IP lifecycle approach - from novelty assessment to infringement detection - positions it beyond the simple patent drafting tools on the market. The platform's ability to analyse invention disclosures using LLMs and automatically generate patent claims aims to address efficiency bottlenecks for Fortune 500 IP teams. With AI accelerating the pace of invention, traditional IP processes face unprecedented strain. Ankar's founders correctly identify this inflection point, where manual IP workflows become increasingly unsustainable.
Index Ventures' leadership, backed by Datadog CEO Olivier Pomel's participation, provides strong market validation. Index's track record with B2B SaaS unicorns suggests confidence in Ankar's scalability potential.
The funding is designed to enable critical go-to-market expansion at a time when enterprises are actively seeking AI-powered IP solutions. Success will of course depend on demonstrating measurable ROI improvements over traditional IP management approaches.
Posted by: Marc Hardwick at 08:52
Tags:
funding
automation
IP
DXC Technology has announced a significant seven-year contract win with Plan International, the global children's charity, to lead its end-to-end SAP S/4HANA Private Cloud migration. The deal provides another positive data point in DXC's efforts to rebuild momentum following sustained revenue declines.
Plan International, which operates across over 80 countries, presents a substantial client for DXC's European delivery teams; examining the UK arm of the charity, it has an annual income of £66.9 million and 279 employees (plus additional volunteers and trustees). The charity's focus on data-driven decision-making aligns well with DXC's SAP S/4HANA capabilities, which will help Plan International enhance operational agility and improve stakeholder engagement across its global humanitarian programmes.
The contract leverages DXC's deep SAP credentials and recent innovations in rapid deployment. In June 2024, DXC launched its Fast RISE with SAP service, designed to reduce S/4HANA implementation times to under 12 months—a significant improvement from traditional multi-year deployments.
While DXC continues to face headwinds (see DXC Technology Q4 FY25: continued revenue decline with improving bookings | TechMarketView), wins like this demonstrate the company's ability to secure substantial new business. Notably, this deal demonstrates DXC's ability to compete effectively in the UK's competitive SAP services market, particularly where organisations with an international footprint require coordinated delivery across multiple regions.
Posted by: Georgina O'Toole at 09:27
Tags:
erp
cloud
SAP
charity
Posted by: UKHotViews Editor at 09:15
Innovate UK, a non-governmental public body which helps companies develop and commercialise new products, processes and services, has launched its AI Skills Hub. The platform, created with the support of PwC, aims to advance AI adoption, job creation and growth by connecting individuals, employers, training providers, and AI technology partners.
The agency, which is also behind the deep tech innovation organisation Digital Catapult (see here), is a part of Department for Science, Innovation and Technology (DSIT) funded UK Research and Innovation (UKRI). The new AI Skills Hub seeks to unify the fragmented AI learning and employment landscape and fill the gap between employers’ demand and available skills. Initially, it will focus on four key industries: agriculture and food processing; construction; creative; and transport, logistics, and warehousing.
This news is latest in a string of public sector-led AI initiatives that have been announced in recent times. At the start of the year, the Prime Minister unveiled further details of the AI Opportunities Action Plan as the UK government doubles down on AI to accelerate growth (see here). This included the establishment of a digital centre of government within DSIT to scan for new ideas, pilot them in public sector settings, then scale them, with an aim to revolutionise how AI is used in the public sector. Earlier this month, Keir Starmer committed an extra £1bn of funding for AI infrastructure development (see here).
According to IMF estimates, AI could boost UK productivity by as much as 1.5% a year. This would represent a near doubling of the average annual improvement achieved since the global financial crisis. While the increased public investment in infrastructure and AI skills is certainly welcome, there remains a lot of hard work ahead, not least with regard to addressing the legitimate concerns about AI's impact on employment, if the potential benefits of these new technologies are to be fully realised.
Posted by: Duncan Aitchison at 09:09
Tags:
skills
AI
public sector
Yesterday, the ICO announced a substantial penalty against genetics firm 23andMe signalling a toughening regulatory stance on genetic data security, with implications extending far beyond the direct-to-consumer testing sector. The fine may well represent a watershed moment for biometric data protection in the UK market.
San Francisco HQ’ed 23andMe was founded way back in 2006 and is one of many firms providing genetic testing services. For services ranging in cost from £99 and up, customers can send a saliva sample to its labs and get back an ancestry and genetic predispositions report. We initially covered the data breach back in October 2023 when it was made public (see Even your DNA is not safe to hackers). The breach timeline reveals catastrophic security governance failures. Despite clear warning signs from April 2023 - including over one million login attempts in a single day causing platform outages - 23andMe failed to initiate a proper investigation until October when stolen data surfaced on Reddit. This six-month delay demonstrates fundamental inadequacy in threat detection and incident response processes.
The joint investigation with Canada's Privacy Commissioner establishes a template for cross-border enforcement against global data controllers. This coordinated approach significantly amplifies regulatory reach and penalty exposure for multinational operators. The ruling also creates immediate compliance issues across the broader health tech ecosystem. Key requirements now include mandatory multi-factor authentication for sensitive data access, enhanced credential monitoring, and proactive threat detection systems. The emphasis on "unpredictable usernames" introduces novel security obligations that many platforms currently lack.
Organisations handling biometric or genetic data face elevated regulatory scrutiny and potential penalty exposure. The ICO's focus on "basic steps" suggests even established security practices may be insufficient. Companies will have to reassess authentication protocols and incident response capabilities to avoid similar enforcement action in an increasingly unforgiving regulatory environment.
Things could have been even worse for 23andMe. The original proposed penalty was £4,593,750 but was reduced to £2,310,000 due to 23andMe's deteriorating financial position. 23andMe's holding Co. filed for Chapter 11 bankruptcy on March 23rd, with substantial doubt about continuing as a going concern. The company had an accumulated deficit of $2.4bn as of December 31st, 2024.
Posted by: Marc Hardwick at 09:08
Tags:
cybersecurity
Pulsant and Nine23 have announced their new strategic partnership, which sees Nine23 using the data centre specialist to deliver its managed services into the government, law enforcement, and defence sectors.
Pulsant’s infrastructure, comprising 14 data centres around the UK, will provide a private network for Nine23 to deliver resilient and fully UK sovereign critical services. The network will also offer assurance and protection to the supply chain serving Nine23’s customers, many of whom are operating in highly regulated industries (e.g., Financial Services). Working with Pulsant, Nine23 can offer highly secure and resilient private cloud services, incorporating Pulsant’s public cloud where requested. 
Wendy Shearer, Director of Partners and Ecosystems for Pulsant, told us: “We're building an ecosystem where we want to have our data centres full of fantastic technology service providers, and then be able to point them to each other so we all operate like true partners.”
The partners ecosystem consists of smaller MSPs but also the big GSIs too, providing lots of opportunity for ‘cross-pollination’.
Nine23 will use Pulsant’s platformEDGE, which combines co-location, cloud and connectivity services. When this is combined with solutions and expertise from sector specialists such as Nine23, the offering to the customer becomes incredibly compelling.
Many moons ago, Nine23 went through the TechMarketView Little British Battler programme. We are delighted to see it thriving and partnering with another great British brand.
Posted by: Kate Hanaghan at 10:15
Tags:
partnership
The UK government's response to the Public Accounts Committee's (PAC) March 2025 report on AI adoption reveals encouraging commitments but also troubling patterns. While DSIT acknowledges PAC's criticisms and promises concrete action, the response also demonstrates how little has fundamentally changed in the government's approach to digital transformation. The real test will be whether renewed commitments translate into measurable progress.
The PAC's conclusions were not surprising (see AI in Government: Promise vs preparedness amid civil service cuts | TechMarketView). Out-of-date legacy technology remains a barrier, transparency standards are moving at a glacial pace, and there's a persistent skills shortage. Most tellingly, the committee found "few examples of successful at-scale adoption across government" – an indictment of multiple AI pilots, over several years, that have failed to graduate beyond proof-of-concept.
DSIT appears to accept these criticisms rather than dismissing them. The commitment to prioritise legacy technology remediation through Spending Review processes suggests recognition that you can't build AI capabilities on creaking infrastructure. Similarly, the acknowledgement that algorithmic transparency standards need proper rollout shows awareness that compliance theatre won’t cut it with the UK public.
However, it doesn’t take much scratching beneath the surface to find familiar patterns. The government continues to grapple with how to accelerate AI adoption across the public sector. One of the responses on this occasion is to establish a Public Sector AI Adoption programme to systematically gather insights from pilots, identify scalable AI products, and build cross-government capability to move initiatives beyond proof-of-concept stage. It feels like the latest in a long line of attempts to find the right organisational approach to accelerating AI adoption and realising its potential (Plans and progress of UK government AI adoption | TechMarketView).
The skills challenge remains particularly intractable. The government's commitment to having one in ten civil servants working in digital roles by 2030 sounds impressive until you consider they're simultaneously trying to reduce administration costs by 16% and cut consultant spend by £700m annually. There is bound to be a lag before the widespread—and impactful—implementation of AI brings the desired savings. As such, cutting costs and accelerating AI progress in parallel will not be easy.
Perhaps most revealing is the government's approach to AI procurement. The promise of a new framework that will "get the best from all suppliers" while ensuring "opportunities are available for small suppliers" sounds remarkably similar to every digital procurement reform of the past decade. The establishment of a Digital Commercial Centre of Excellence feels like déjà vu for anyone who has followed repeated attempts to fix the government's relationship with technology suppliers (*UKHotViewsExtra* Spending Review 2025: Digital transformation takes centre stage | TechMarketView).
The government's target dates tell their own story. Most commitments stretch to late 2025 or early 2026 – that’s if they are met. The pledge to strengthen spend controls and improve algorithmic transparency won't be truly tested in time to respond to the current urgency. What's missing is any sense of the pace at which AI is advancing in the private sector. While the government tackles the barriers to progression inherent in the UK public sector (see *NEW RESEARCH* A Blueprint for a Modern Digital Government | TechMarketView), it will struggle to leverage the potential of AI and the much-needed productivity benefits it could deliver.
Posted by: Georgina O'Toole at 09:59
Tags:
AI
public+sector
Mastek has been selected to provide cyber security training to NHS Boards and Senior Information Risk Owners (SIRO’s). The one-year contract, which includes an option to extend for a further twelve months, is worth up to £800k. The work will be delivered in partnership with London-HQ’d cyber security specialist, Templar Executives.
The scope of the engagement comprises two programmes: SIRO Training and Board Training. The former is focused on helping these leaders and their teams gain essential knowledge to improve cyber resilience. The latter aims to ensure Board members fully understand their responsibilities in governance, leadership, and compliance with relevant cybersecurity legislation.
Mastek has been enjoying increasing success in the UK healthcare sector, within which this latest win marks another modest step forward. Company revenue from the vertical increased sequentially by a remarkable 31% in Q425 (the three months ended 31st March) to account for about 12-13% of its UK turnover (see here).
Posted by: Duncan Aitchison at 09:22
Tags:
training
cybersecurity
healtcare
contract award
NTT DATA continues to target opportunities in UK Financial Services with the launch of a new Digital Automated Remediation platform ahead of the establishment a potentially massive UK motor finance compensation scheme. With the UK Supreme Court reviewing the Financial Conduct Authority's hidden commission ruling, billions of pounds in redress payments could materialise, creating substantial demand for scalable remediation infrastructure.
The partnership with Lightico and WSN Consulting delivers a comprehensive tech-and-ops model building on NTT DATA's Payment Protection Insurance (PPI) remediation experience. The platform's AI-driven document processing and customer journey orchestration addresses the core operational challenges of high-volume claims management while maintaining regulatory compliance.
The solution's API-first architecture and human-in-the-loop workflows position it well for rapid deployment across multiple financial institutions. However, success will depend heavily on the Supreme Court's decision timeline and scope.
NTT DATA's established Business Process Services (BPS) capabilities should also provide delivery credentials, though competitive pressure from established remediation specialists will be intense. The platform's differentiation lies in its digital-first approach, potentially reducing per-claim processing costs significantly compared to traditional manual methods.
Posted by: Marc Hardwick at 09:19
Tags:
Finance
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Capita’s five-month trading update out this morning shows a company navigating headwinds while betting heavily on its AI transformation programme. Group revenue declined -4.5% as was expected, with the Contact Centre division (Capita Experience) particularly challenged by teleco sector weakness and some contract losses.
The standout performer was Capita Public Service, growing 2.3% driven primarily by its Central Government contracts. However, this couldn't offset broader declines across the portfolio. The company's decision to exit its Regulated Services business follows the previously outlined strategy, though its 6.4% growth figure was flattered by one-off termination fees and some deferred income from the Mortgage software business.
The impact of Capita's significant AI pivot continues to take shape. This saw the launch last week of Agentforce AI for recruitment (as we covered here), aimed at transitioning processes from weeks to hours, and showcased tangible applications. With over 200 AI use cases now identified through their Catalyst Lab and five products already launched, the company is moving beyond experimentation toward commercial deployment that should shake up its delivery model significantly.
Capita is sensibly taking a "client zero" approach - testing solutions internally before external rollout - providing credible proof-of-concept credentials. Microsoft Copilot's 150,000 monthly interactions suggest genuine operational integration rather than superficial adoption.
Management's unchanged guidance of flat 2025 revenue with margin improvement remains achievable. The £185m of £250m targeted cost savings already delivered provides confidence in its execution. However, the weighted second-half margin improvement will likely create some near-term pressure, particularly given the Contact Centre businesses ongoing challenges. Of key importance will be the projected free cash flow positive position from end-2025 which should represents a critical inflection point for investor confidence.
While revenue headwinds persist, Capita's AI strategy and cost focus show promise of a medium-term recovery. The key test will be converting those AI ‘product’ investments into sustainable competitive advantages as well as client retention of key contracts in a challenging market environment.
Posted by: Marc Hardwick at 08:36
Tags:
bps
trading update
Plus ça change. It's almost inevitable that we miss mentioning one or two worthy recipients of the King's Honours (see Tech industry recognised in King's Birthday Honours 2025 | TechMarketView). After a second scouring of the announcement, I've spotted four more awards, three well known by TechMarketView.
Mike Tobin, who received an OBE in 2014 for 'Services to the Digital Economy' has had an upgrade. He has been honoured with a CBE for 'Services to Charity'. His endeavours have included raising over £100k by running 40 marathons in 40 days for The Prince's Trust in 2016, raising over £100k for The Brain Tumour Charity by trekking to the South Pole in 2020, and founding The Tobin Foundation focused on Education, Empowerment, and Welfare of Children.
Secondly, Charles Mindenhall, is also honoured with a CBE. We know Charles, predominantly, as Co-Founder of Blenheim Chalcot, the parent company of Agilisys. However, he is also Chair of OnSide Youth Zones (a collaboration of 15 independent local charities committed to exceptional, life-changing youth work) and Babyzone (providing holistic support to disadvantaged families with children under the age of 5). He is recognised for 'Services to Business, Philanthropy, and to Young People.
Thirdly, Steve Varley, who was UK Chair and Managing Partner of EY receives a CBE for 'Services to Professional Services'. He is also behind a new accountancy firm, having secured £200m in PE investment earlier this year.
Also worthy of mention is Chi Onwurah, MP and Chair of the Science Technology & Innovation Select Committee, and was the shadow minister for Science Research and Digital under Keir Starmer, who becomes a Dame in recognition of Political and Public Service.
We think that concludes the mentions. But never say never...
Posted by: Georgina O'Toole at 14:34
Tags:
awards
Triad Group plc has maintained strong momentum following its impressive H1 results (see Triad delivers on growth promises in H1) to deliver a 53% improvement in revenue and more than doubled gross profit over the full year (year ended 31 March 2025).
The digital, data and technology consultancy delivered revenue of £21.4m (2024: £14.0m); gross profit of £6.1m (2024: £2.8m), resulting in gross profit as a percentage of revenue increasing to 28.6% (2024: 20.1%); profit before tax was £1.5m (2024: loss of £1.3m); and cash and cash equivalents increased to £3.4m (2024: £2.1m).
Significant contract awards in 2024 (see Triad turning the tide with record contract wins) helped drive this performance, leading to improved utilisation of permanent consultants and new hires. By the end of the financial year, the number of fee earning consultants stood at 147 (2024:116).
Triad’s big win during the latest financial year was being awarded one of four slots on the Integrated Corporate Services (ICS) contract to provide technical specialists and operational services for the Department for Energy Security and Net Zero (DESNZ) and Department for Science, Innovation and Technology (DSIT) digital projects (see Net Zero nets £60m for Capgemini, Cognizant, Thoughtworks and Triad). The £60m three-year contract was awarded to Triad alongside Capgemini, Cognizant and Thoughtworks on a taxi rank arrangement, which is intended to ensure a fair distribution of work packages and contract spend across each supplier.
Recent contract wins have resulted in a more balanced customer portfolio, which was for many years over-reliant on the Ministry of Justice (MOJ). The largest single customer (Office for Product Safety and Standards (OPSS), part of the Department for Business and Trade) contributed 24% of its revenue during the year. Five other customers, all in the public sector, contributed more than 10% of its revenue.
Although most of Triad’s work continues to be with central government departments such as OPSS, DESNZ, DSIT, Foreign, Commonwealth and Development Office (FCDO), Department for Transport (DfT) and MOJ, the company is also carving out a niche in public safety. This includes work with both national and regional law enforcement agencies, and through its partnership with the Home Office’s Accelerated Capability Environment (ACE). It has also helped Cumbria Police launch their new Mark43 record management system (see Mark43 secures inaugural UK customer), a contract that is being watched closely by many police forces around the country.
The outlook for Triad is positive. Despite the government’s efforts to reduce spending on external consultants, the company is well positioned to support the ambitious Whitehall digital reform drive that featured so heavily in last week’s Spending Review (see Spending Review 2025: Digital transformation takes centre stage). Management report good visibility of future work for existing clients, with further recruitment underway to match demand, and it has just secured another significant deal with OPSS. The £8.5m one-year contract will see the company supply a range of specialist roles for the organisation’s data architecture, GOV.UK, and MS Dynamics service teams.
Posted by: Dale Peters at 09:54
Tags:
results
contract
government
consultancy
public+sector
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