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Clarity of purpose fuels growth at Aptitude
24 Jul 2019
Muted start to LTI’s year as snaps up Lymbyc
24 Jul 2019
Lawtech Genie AI raises £2m
24 Jul 2019
FAANG stocks fall on antitrust investigation
24 Jul 2019
European success buoys NIIT Technologies
24 Jul 2019
Are you interested in how disruptive technologies will impact financial services?
24 Jul 2019
Microsoft cash investment in ethical OpenAI
23 Jul 2019
Vine Health raises £1.2m to improve cancer care
23 Jul 2019
Lawtech ContractPodAi lands $55m funding
23 Jul 2019
Sales momentum starts to build at PCI-PAL
23 Jul 2019
Backers fuel SteamaCo to power developing countries
23 Jul 2019
GetBusy stays busy
23 Jul 2019
Uncertainty slows Mindtree’s progress
23 Jul 2019
New CEO Tom Smith to lead Mporium restructure
23 Jul 2019
Gresham reveals an excellent start to 2019
23 Jul 2019
FDM grows as contractors dismount
23 Jul 2019
Capita to launch new consultancy arm
23 Jul 2019
Adarga secures funding for AI push
23 Jul 2019
Join the TMV team for dinner on 12 Sept!
23 Jul 2019
New Indian facility highlights Keytree's growth ambitions
23 Jul 2019
Enabling Business Transformation for PE and PE-backed Companies
23 Jul 2019
LTG optimistic about rest of FY19
22 Jul 2019
Idox emerging from the storm
22 Jul 2019
SThree CEO sticks to the playbook
22 Jul 2019
Another strategic investment for Ascential
22 Jul 2019
Eloomi employee experience proposition bags $14m funding
22 Jul 2019
IFS on rapid trajectory
19 Jul 2019
Microsoft pulled another big year
19 Jul 2019
WNS Q1 sees UK resilience but currency headwinds
19 Jul 2019
BT links Schindler’s lift
19 Jul 2019
*UKHotViewsExtra* Did HPE make a success of the RedPixie acquisition?
19 Jul 2019
Book your place for an Evening with TechMarketView!
19 Jul 2019
Serco settlement rescues Capita MoD Fire service deal
19 Jul 2019
Memorial Service for Dr Doug Eyeions
18 Jul 2019
Value from visualisation secures Zegami fresh funding
18 Jul 2019
SAM Labs secures $8.9m to scale US operations
18 Jul 2019
Workmanlike Q2 for SAP
18 Jul 2019
System C secures Walsall healthcare deal
18 Jul 2019
Moneysupermarket.com reinvents for growth
18 Jul 2019
We choose to go to the moon...
18 Jul 2019
*NEW RESEARCH* Social Energy - transforming energy markets with AI
18 Jul 2019
£106m awarded to Police Transformation Fund projects
18 Jul 2019
Firstsource looks to Cognizant for digital leadership
18 Jul 2019
IBM cranks the quarterly profit wheel
18 Jul 2019
Temenos banks on explainable AI with Logical Glue
18 Jul 2019
Netflix shares slump as US subscribers desert
18 Jul 2019
European growth remains elusive for Wipro
18 Jul 2019
Ten10 Voted Top 5 Place to Work in UK for Graduates
18 Jul 2019
BT property sell off begins with £209m deal for London HQ
17 Jul 2019
ESN: further delays and cost increases seem inevitable
17 Jul 2019
UK Market Trends & Forecasts 2019-2022: Do you understand Digital Chaos?
17 Jul 2019
TechMarketView’s Supplier Rankings 2019: Who ranks where?
17 Jul 2019
Investors line up to back Curve
17 Jul 2019
AppyParking bags £7.6m funding
17 Jul 2019

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Wednesday 24 July 2019

Muted start to LTI’s year as snaps up Lymbyc

logoAfter closing FY18/19 with record results (see Best year yet for LTI), Mumbai-based LTI (aka Larsen & Toubro Infotech), had a rather more muted start to the new financial year. Headline revenues for Q1 (to 30th June 2019) still exceeded double-digit growth, at 11.4%, to reach $356.5m, but this was less than 1% higher than the prior quarter, a much slower start than the prior year. In addition, profits declined qoq by 9% (in USD terms) paring operating margins back by nearly two points to 16.0%.

Of course, happening on the sidelines was its parent’s acquisition of a controlling stake in Bangalore-based mid-tier peer Mindtree, which also suffered a slow start to the new FY (see Uncertainty slows Mindtree’s progress). The plan is still to run LTI and Mindtree side by side, with the recent news that the Mindtree founders are now to stay on “to improve the company’s performance and the share price” (Source: Economic Times of India) after previously announcing their resignations.

While I can completely understand the sensitivities involved in this acrimonious takeover, I just cannot see the business sense in keeping LTI and Mindtree separate for long. I worry that the ‘whole’ will end up less than the sum of its parts because of the added headaches and distraction of trying to optimise the performance of two directly competing businesses.

Meanwhile, LTI also announced the acquisition of Bangalore-based analytics software developer Lymbyc. Terms were not disclosed. Founded in 2012, Lymbyc had been partnering with LTI over the past year. Lymbyc is LTI’s fifth acquisition since its IPO in 2016.

Posted by Anthony Miller at '08:31' - Tagged: results   offshore   acquisition  

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Wednesday 24 July 2019

Lawtech Genie AI raises £2m

Genie.aiGenie AI, a lawtech automating document drafting, has raised a £1.2m seed round coupled with an £800K grant from UK Research and Innovation.

The lawtech space is a broad church of different technologies with firms often providing single point solutions solving individual problems. Genie AI’s product is a contract editor called “SuperDrafter” that uses both Machine Learning and Natural Language Processing (NLP) to help lawyers draft documents more efficiently and intelligently. The tech is designed to read through high volumes of past documents then recommend clauses during contract drafting, negotiation and review. This is a process that traditionally would have been done manually with rooms full of recently qualified lawyers often burning the midnight oil, trawling through emails and files looking for specific clauses – all very expensive and inefficient.

Genie AI is also of interest as it’s a product of Barclays’ Eagle Lab lawtech incubator, launched last year in partnership with the Law Society and currently working with over a dozen lawtechs. As a consequence, SuperDrafter is now being piloting with law firms Clifford ChancePinsent Masons and Withers. Turning these pilots into wider deployments will be key for the business going forward. Driving adoption within Law firms is a key challenge for lawtechs and our research for the Law Society deals with this issue in detail (you can read more here).

Having spun out of UCL’s Machine Learning department in 2017, Genie AI is part of a thriving UK lawtech community and one of a number of firms raising funds off the back of successful pilots with big Law firms. It is also typical of the fragmented lawtech landscape with so many (small) firms looking at individual problems and processes and we expect this to consolidate significantly as the market matures.

Posted by Marc Hardwick at '08:28' - Tagged: funding   legaltech   lawtech  

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Wednesday 24 July 2019

FAANG stocks fall on antitrust investigation

SharesIf you are wondering why shares in the likes of Facebook, Alphabet/Google and Amazon all dropped >1% in after-hours trading last night, it was due to the US Dept of Justice announcing an antitrust investigation into these big tech platforms. They will determine if these groups are reducing competition (eg by buying up the competition) and stifling innovation.

Facebook shares fell the most - down 1.8% - as it is additionally likely to face the biggest fine ever imposed - $5b - for misusing personal data.

On top of this, investors are waiting for the latest quarterly results from this big tech groups with Facebook due to report after hours tonight followed by Alphabet and Amazon on Thursday.

Watch this space!

Posted by Richard Holway at '08:01'

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Wednesday 24 July 2019

European success buoys NIIT Technologies

LogoA strong performance in Europe helped Noida-based mid-tier India pure-play NIIT Technologies make a solid start to its new financial year. Constant currency revenue in Q120 (the three months to 30th June) increased by 11.8% yoy to £138.5m. Operating margin for the period was 10.3%, a decrease of 410 bps from the prior quarter.

 Both top and bottom line figures were affected negatively by the company’s disposal in April of its 88.9% holding in geographical information systems business Esri India Technologies. Turnover in the underlying business grew by 16.7% yoy and operating margin improved.

In contrast to the experiences of rival Mindtree which has found Europe harder work of late (see here), NIIT Technologies saw first quarter constant currency turnover in the region grow by 22% yoy. Given that 75% of these sales are in the UK, it is reasonable to assume that the performance here was of a similar order.

There was further good news in the digital services arena where revenues rose 46% yoy in Q120. These now represent 34% of total sales. The company secured fresh business of US$175m during the quarter up over 9% on the same period last year. The order executable over the next twelve months also increased to US$395m.

Posted by Duncan Aitchison at '07:14' - Tagged: results   offshore  

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Tuesday 23 July 2019

Microsoft cash investment in ethical OpenAI

Microsoft logoMicrosoft has spent the last few years putting its AI and machine learning strategies in place, investing technology that will underpin intelligent data-led applications and digitalised businesses. It has been a partner of OpenAI, the non-profit artificial intelligence company formed by co-founders Elon Musk and Sam Altman, since it was formed three years ago in 2016 (see Microsoft Ventures puts AI start-ups in its sights). OpenAI undertakes research & development (R&D) to help steer growth of AGI (artificial general intelligence) towards applications that put humanity’s interests front and centre. Also, in 2016, Microsoft launched a dedicated AI investment fund (part of Microsoft Ventures). At the time, the size of the AI fund was kept under wraps – but it was made clear that it would be focused on AI companies looking to have a positive impact on society, in line with CEO Satya Nadella’s AI principles and goals.

OpenAI logoWith this background in mind, the fact that Microsoft is making a cash investment in OpenAI LP (Open AI Inc’s for-profit corporate subsidiary) doesn’t come as a huge surprise... though the $1b sum is certainly substantial. It is being described as a multi-year “exclusive computing partnership”. The partnership, which will further extend Microsoft Azure’s capabilities in large-scale AI systems has three key elements: joint development of new Azure AI supercomputing technologies; the porting of OpenAI services to run on Microsoft Azure, and Microsoft becoming OpenAI’s preferred partner for commercialising new AI technologies.

When OpenAI launched it stated it had $1b committed from a range of individual investors, including its founders, as well as a handful of corporatess – Amazon Web Services, Infosys, and YC Research – although only a tiny fraction was expected to be spent in the first few years of operation. Microsoft now looks to be seeking a competitive edge with its Azure AI platform. OpenAI will call off the investment, over the next five years or so, as and when it needs it.

Posted by Georgina O'Toole at '10:08' - Tagged: funding   Azure   AI  

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Tuesday 23 July 2019

Vine Health raises £1.2m to improve cancer care

Vine Health logoLondon-based cancer care start-up Vine Health has completed a £1.2m seed round, led by Playfair Capital. Entrepreneur First, Ascension Ventures, Tiny VC, and a number of angel investors also participated in the round.

The company was founded by Rayna Patel and Georgina Kirby in 2018 with the aim of providing better symptom and medication self-management for cancer patients. Rayna is a medical doctor and neuroscientist, who has also held strategic and commercial roles in tech startups and government policy units. Georgina is a data scientist focused on AI-driven health technology, she led GSK’s first data-driven clinical trial using remote monitoring to predict patient outcomes at McLaren Applied Technologies and was Head of Data Science at Touch Surgery.

The app allows cancer patients to track, understand and optimise their medication-taking, symptoms and lifestyle. The platform collects the data generated and the company will use AI to interrogate this data to better understand how particular treatments affect patients’ quality of life. This information will then be used to inform healthcare delivery and drug development.

The company intends to use the funds from the seed round to develop its platform and make key hires at its London-based headquarters.

Allowing cancer patients to have greater understanding of their illness, more control over treatment and better quality of support is a fantastic aim. There are obviously key ethical and privacy issues to be considered, but the data generated from this type of app has the potential to become a vital tool in developing more effective treatments.

Posted by Dale Peters at '09:58' - Tagged: funding   startup   AI   data   healthtech   app  

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Tuesday 23 July 2019

Lawtech ContractPodAi lands $55m funding

ContractpodaiSigns of a maturing lawtech market have been the increasing amounts of funding that have slowly been making their way into the space. Over the last year or so we have seen UK lawtech firms like legal AI provider Luminance and Business Intelligence firm Apperio raise around $10m each.

Contract management software provider ContractPodAi has now taken this to the next level announcing a $55m Series B round led by Insight Partners, with participation from existing backer Eagle Proprietary Investments.

ContractPodAi operates in the contract management part of lawtech, one of the key growth areas where adoption is at its highest in the more mature business-to-business (B2B) legal market. This market has been accelerated by the demand for innovation from in-house legal teams (General Counsel) and it’s here that ContractPodAi is sensibly targeting.

Founded in 2012, ContractPodAi aims to use AI to make the contract process less onerous for in-house legal teams and currently serves clients globally from offices in London, New York, San Francisco, Glasgow, and Mumbai. The company will use funding to scale-up product development, sales and account management.

This is a landmark deal for the UK in what looks likethe largest lawtech funding round to date and a good sign the market is continuing to develop and mature. We expect to see more like this in coming months.

Posted by Marc Hardwick at '09:20' - Tagged: funding   legaltech   lawtech  

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Tuesday 23 July 2019

Sales momentum starts to build at PCI-PAL

PCI-palPayment security and customer engagement specialist, PCI-PAL, has released a trading update, highlighting encouraging progress during its latest full-year. The update revealed strong growth in new contracts, which were valued at £5.6m (TCV) for the twelve months to the end of June. This compared to £1.7m for the same period last year.

In North America, PCI-PAL’s sales reached £1.4m, during the company’s first full year of trading in that market. Meanwhile, as at 30 June 2019, the total recurring value of contracts (ACV) was £4m compared to £2.2m in 2018. PCI-PAL expects to make a loss before tax for the 12 months to June 2019 in line with market expectations. Net cash was down from £3.75m to £1.5m.

PCI-PAL is continuing its steady recovery, since the appointment of James Barham as CEO in October 2018 (see: PCI-PAL progressing under new CEO). The latest news indicates some decent sales momentum from the company’s channel and reseller agreements with CCaaS, TalkDesk and 8X8. PCI-PAL remains committed to its strategy of expanding via channel partners, which appears to be bearing fruit. Whilst there can be challenges with this approach, especially at long distance, it may well hold the key to the firm’s future success in the lucrative North American marketplace.

Posted by Jon C Davies at '08:57'

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Tuesday 23 July 2019

Backers fuel SteamaCo to power developing countries

logoWhile the UK government struggles to replace every gas and electricity meter in the land in its forlorn quest to create a ‘smart’ energy grid (see Smart Meter Madness (13): Things are not getting better and predecessors), Manchester-based startup SteamaCo (no, I don’t get the name either) is actually doing something useful, developing smart meter technology that can be used in hostile terrain to bring electricity supply to remote outposts in developing countries.

SteamCo’s strapline “Connect the unconnected” rather says it all. Their solution combines a smart meter that can be mounted on poles as well as in homes. The meters communicate locally using LoRa (Long Range) technology and connect to SteamaCo’s cloud via GPRS and SMS. This is claimed to be 100 times more efficient than typical domestic smart meter networks. The solution, which includes network management and billing functionality, is sold as-a-service from £35 per meter per month. SteamaCo’s technology is already deployed in Nigeria, Kenya, and India.

Founded in 2012, SteamaCo raised £640k seed funding in 2016, followed by a $2.9m Series A round in 2017 led by Shell Technology Ventures. The startup has just raised a further $5m in a Series B round co-led by Shell and Manchester-based VC, Praetura Ventures.

This is an innovative application of smart meter technology where it really can do good. Admirable!

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

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Tuesday 23 July 2019

GetBusy stays busy

LogoDocument management software supplier GetBusy plc has continued at the business tempo set during its last financial year (see here). H119, the six months to 30th June, saw constant currency revenue up 18% yoy to £6.15m with recurring revenue growing marginally faster to now account for nearly 90% of total sales. Losses before tax reduced by a further 14% to £571k.

GetBusy has three core product offerings: Virtual Cabinet, SmartVault, and GetBusy. Virtual Cabinet, a document management solution for medium size to enterprise size customer which generates around two thirds of company revenues, landed its two largest ever deals in H119. SmartVault, a document management product aimed at SMEs, continued to scale rapidly during the period, while GetBusy, the company’s new client chat and productivity product, acquired its first active users during the first half of the year.

Buoyed by encouraging leading indicators the GetBusy board is confident that FY19 revenue will be ahead of current market expectations. Another c.20% top line growth year would seem to be on the cards.

Posted by Duncan Aitchison at '08:42' - Tagged: results   software   documentmanagement  

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Tuesday 23 July 2019

Uncertainty slows Mindtree’s progress

LogoAgainst the backdrop of a successful hostile take-over bid by Indian industrial conglomerate Larsen & Troubro (see here), Bangalore-based mid-tier offshore services firm Mindtree made a comparatively slow start to its new financial year. A sequential constant currency revenue increase of 1.1.% saw turnover in Q120 (the three months to 30th June) improve by 10.4% yoy to $264.2 million. While this was a more than respectable performance given the circumstances, it marked a sharp decline from the 18% yoy sales growth rate achieved in FY19.

There was considerably worse news regarding the bottom line. According to our model, first quarter operating profit dropped by over 40% yoy to generate a margin of just 6.4%, down 650bps on Q419. A large proportion of this fall was driven by a combination of a one-off hit due to special payment to employees to mark the company’s 20th anniversary and Mindtree’s planned first quarter wage hikes. The firm also cited poor margin performance in two vertical sectors; technology and media and travel and hospitality.

On a more positive note, Q1 revenues from digital related services increased by a further 20% yoy to over $100m. These activities now account of nearly two fifths of total turnover. In Europe, however, the improving business momentum evident in the last quarter of FY19 failed to carry through into the new financial year. Sales in this region fell by around 3% both qoq and yoy.

It must be hoped that, with the uncertainties regarding the outcome of the Larsen & Troubro bid now resolved, Mindtree management will be able to return its full attentions to driving faster, more profitable growth. The recent resignations of company’s three most senior executives (see here), however, will do little to help steady the ship in the short term. Filling this leadership void would seem an urgent priority for the new parent.

Update: It has since been reported in the media that Mindtree's founders will stay on "to improve the company's performance and the share price".

Posted by Duncan Aitchison at '08:37' - Tagged: results   offshore   systemsintegration  

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Tuesday 23 July 2019

New CEO Tom Smith to lead Mporium restructure

Mporium logoAIM-listed digital marketing technology company Mporium Group plc has appointed Tom Smith as its new CEO and provided an update on its restructuring plans.

Smith, who succeeds Nelius De Groot, has joined the board with immediate effect. He joined Fast Web Media in 2008, which was acquired by Mporium in 2015 and sold earlier this month. Smith became Head of MporiumX on its launch in November 2018 and has been Managing Director of the Group since June 2019. De Groot will remain with the Company as a Non-Executive Director until the end of August.

Mporium has also announced it expects the restructuring plan for the business to be completed by the end of this month. Revenue for the year ended 31 December 2018 was down 54% to £0.91m (2017: £1.98m) as the company failed to achieve sufficient business from its Agency division and Fast Web Media generated significant losses. The Group made an operating loss of £7.73m in 2018, compared to a loss of £3.87m in the previous year.

In June it raised £1.9m from a share issue to help it restructure the business and provide working capital (see Mporium raises £1.9m for restructure). In July it sold Fast Web Media to International Agency Group for a nominal consideration of £7,500.

The restructure will see Mporium concentrate on its MporiumX division, which uses it proprietary IMPACT technology to drive digital advertising campaigns on a pay-for-performance basis, and narrow its focus to specific business sectors, including the sports and consumer regulation sectors, and license its IMPACT platform through a self-service offering.

2018 was a very difficult year for the business, but management states it has made encouraging progress with its restructure and is confident the leaner structure will drive growth. In April it reported total revenues booked to the end of February 2019 exceeded £5.4m, with MporiumX accounting for 95%.

Posted by Dale Peters at '08:31' - Tagged: marketing   appointment   digital   restructure  

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Tuesday 23 July 2019

Gresham reveals an excellent start to 2019

GreshamGresham Technologies, the specialist provider of real-time, transaction control and data integrity solutions to the financial services sector, has released a strong set of half-year results. The UK-based vendor highlighted its excellent start to 2019 during which group revenues grew by 36% to £12.4m.

Revenues derived from Gresham’s flagship software, Clareti, were up 50% year on year to £8.3m, whilst recurring software revenues leapt by 83% to £5.5m. The vendor successfully signed six new Clareti customer during the first six months of 2019. In June the Gresham announced a major new contract with ANZ to support the Australasian bank’s ongoing digital transformation (see: ANZ selects Gresham for Open Banking).

Gresham’s declared aim has been to establish Clareti as the platform of choice within Capital Markets. The H1 results highlight the company’s recent successes as transformation within the sector accelerates. Coupled with a strong pipline, it appears that Gresham may be well on its way to achieving its goal.  

Posted by Jon C Davies at '08:14' - Tagged: results  

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Tuesday 23 July 2019

FDM grows as contractors dismount

logoThe strength of tech staffing firm FDM Group’s employed contractor model shone through again in first half as revenues from its contingent contractor business all but disappeared, continuing what management prefers to describe as a ‘managed decline’ (see FDM ends more profitable year as contractors contract).

As a result, the 16% uplift in employed contractor (‘Mountie’) revenues to £132.6m in H1 (to 30th June) was mitigated by a 44% decline in contingent contractor revenues to £1.8m, netting out to 14% headline revenue growth – still a very commendable result.

Gross profit growth came in a shade under, at 13%, trimming gross margins by one point to 48% (the joys of the employed contractor model), but accelerating SG&A costs dragged operating profit growth to 9%, shaving operating margins back by over one point to 18.8% - though still very much in “what’s not to like?” territory.

Like most other staffing firms FDM’s UK business is being affected by you-know-what, notably in public sector, but still grew by 11% - a stark contrast to the declining UK business at much larger ‘traditional’ recruiter, SThree (see SThree CEO sticks to the playbook).

As ever, husband and wife team Rod (CEO) and Sheila (COO) Flavell have their experienced hands firmly on the strategic and operational levers of this exemplar staffing business.

Posted by Anthony Miller at '08:13' - Tagged: results   recruitment  

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Tuesday 23 July 2019

Capita to launch new consultancy arm

CapitaReports in the Sunday Times over the weekend has Capita investing in a new consultancy arm as it looks to move into higher-margin more strategic activity, employing up to 1,000 consultants.

Capita has had a consulting business for a number of years; however, this has been typically sub-scale, clubbed together from a series of acquisitions and mostly targeted at internal operations within existing contracts or bids.

As we outlined in our recently published UK SITS Market Trends & Forecasts 2019-2022  report, Consulting is the fastest growing service line within the UK SITS market benefiting from the ‘digital chaos’ of recent times. Capita rightly believes there is huge opportunity helping clients navigate this landscape and their challenges of digital driven change management.

The rationale of helping clients for example, get the most out of AI and automation is a sound one and where Capita has unrivalled client base in the UK from which to start. The challenge will be cutting through in a crowded market where Capita’s brand has been more associated with being ‘doers’ rather than ‘thinkers’. As such, we expect to see both continued efforts to shift Capita’s brand up the value chain coupled with the hiring of different skills in large numbers. Another option of course would be to buy something ready made IF the right business can be found.

Half-year results are out soon when hopefully we will learn more. 

Posted by Marc Hardwick at '08:03' - Tagged: consulting   Capita   consultancy  

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Tuesday 23 July 2019

Adarga secures funding for AI push

adargaUK based analytics software specialist, Adarga AI has successfully raised £5m in Series A funding. The startup, founded in 2016 by ex-British Army officer and former JP Morgan employee, Robert Bassett Cross, secured the cash injection from a group of investors led by Allectus Capital.

Adarga is the second venture for CEO, Barrett Cross, following military service with the Scots Guards and the Parachute Regiment. The Sandhurst trained veteran, who saw active service in Afghanistan, has channelled his “special operations” experience and military discipline into the field of artificial intelligence and advanced analytics.

Adarga claims to have established a £30m plus sales pipeline via strategic collaborations with a number of global industrial partners and the company is currently focused on consolidating its position within the UK defence and security sector. The latest funding will be used to help grow Adarga’s team of data scientists and software engineers and to accelerate the development of the company’s range of offerings in the UK and beyond.

Having worked closely with a number of ex-British army officers during my time in the technology industry, I have always found their focus and clarity of purpose to be a potent asset. It will be interesting to see how Adarga progresses under the stewardship of Rob Bassett Cross. It’s early days, but my instincts are that they could potentially be one to watch.  

Posted by Jon C Davies at '07:48' - Tagged: fundraising  

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Tuesday 23 July 2019

Join the TMV team for dinner on 12 Sept!

We’re looking forward to welcoming over 200 UK tech CXOs to our seventh annual 'An Evening with TechMarketView' at RIBA, London on 12 September. If you haven't yet booked your ticket there is still time to reserve a place at the popular event, which has been described by attendees in prior years as ‘the best networking event in the industry’.

TMVEJoin us from 6.30pm for a welcome drinks reception, supported by InterSystems, then take your seat in the auditorium as TechMarketView’s expert analysts take to the stage to share insight and analysis on the trends and suppliers shaping the UK tech market under the banner of TMV’s 2019 research theme – ‘The Year of the Relationship: Extend. Evolve. Optimise’. You can also look forward to a fireside chat with our guest speaker, Mastercard’s EVP for Global Cities, Miguel Gamiño. Prior to joining Mastercard, Miguel served as the CTO of New York City, pioneering a new civic engagement and innovation platform for NYC and he has stood as a voice of leadership in tech policy, including smart city and IoT programmes.  The evening is rounded off with a superb three-course silver service dinner, providing further networking opportunities, supported by Datto.

Tickets are selling quickly so don’t risk missing your chance to join us for an enjoyable evening of analyst insight and quality networking – book your place now! There are also a limited number of tables of 10 available so why not gather a group of colleagues or clients and bring them along for the evening too?

Don’t forget that if you are a TechMarketView subscription client, 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 the discounted TechMarketView ticket price. See the full details and booking form here.

Event details

Date: Thursday 12th September 2019

Venue: Royal Institute of British Architects, London

Format: A networking drinks reception commences from 6:30pm, supported by InterSystems. This will be followed by 90 minutes of speaker sessions and a first-class silver service dinner supported by Datto.

For more information contact tx2events at 020 3137 2541 or

CLICK HERE to book now!

An Evening with TechMarketView is proudly supported by:

InterSystemsDatto logo

AqillaKimble

Posted by HotViews Editor at '07:45'

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Tuesday 23 July 2019

New Indian facility highlights Keytree's growth ambitions

KeytreeSpecialist SAP services and enterprise applications provider, Keytree, has established a new office in Bangalore, India. The move comes off the back of some notable recent wins for the London based design and technology consultancy which intends to utilise the site to support its digital transformation activities.

The new office is Keytree’s first in India and will be under the auspices of new Regional General Manager Lakshminivashini Jaganathan, who will join the company at the end of the summer. Jaganathan will report to head of R&D, Stuart Clements and will be responsible for growing Keytree’s business in the region.

Keytree has been performing strongly of late. The company recently secured a significant win in the oil and gas sector (see Keytree fuels Essar’s digital transformation) following the appointment of James Woodhouse as its new MD for products earlier this year (see: Keytree primes the pump for products push). The new Indian facility is an exciting move for Keytree and demonstrates its ambtions for future growth, as the company builds on its recent success.

Posted by Jon C Davies at '07:41'

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Monday 22 July 2019

LTG optimistic about rest of FY19

LTG logoLearning Technologies Group (LTG) has continued its strong growth path into the first half of the year according to today’s trading statement. The company expects revenue to be up 85% to £62.5m (in line with FY18 headline growth – see LTG FY18: Confidently building the business), EBIT to increase by c125% to “not less than £20m”, and the EBIT margin to jump from 26.3% to c32%.

LTG is working on growing via both organic and acquisitive means in order to “build a leading end-to-end workplace digital talent and learning solutions provider, to partner global clients through the creation, implementation and maintenance of their integrated talent and learning strategies.”. Much of the recent growth can be put down to the acquisition of PeopleFluent in May 2018 (See  LTG benefits from successful acquisition integration); it was a move that extended the company’s reach from corporate digital learning into talent management.

As was noted at the time of the FY18 results, the Software & Platforms division (64%) had been the growth driver, while the Content & Services division had been struggling. This time around, we are told that, excluding PeopleFluent, organic revenue growth in Software & Platforms was strong in the period – a trend expected to continue. There is also an expectation that PeopleFluent will return to growth in 2020; a view that has been influenced by a higher-than-expected retention rate for its software licenses. Meanwhile, it appears to be a far more positive story for Content & Services with organic revenues “up significantly on H218” and the Board expecting “substantial organic growth” in H2.

LTG has approached its transition to a new area of the market with confidence. And the signs are that some of the more problematic areas of the business are showing signs of positivity. It is the smaller part of the business that is more unpredictable, operating on a fixed price, non-recurring, projects basis; we will be keeping an eye to see if the current positive trend in that business continues.

Posted by Georgina O'Toole at '09:16'

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Monday 22 July 2019

Idox emerging from the storm

Idox logoAfter a tumultuous period in its history (see More woe for Idox and work back), the reorganisation of Idox appears to be making progress.

Half year results for the information management solutions and services business covering the six months ended 30 April 2019 (excluding its disposed Digital business), show revenue down 1.2% to £31.5m (H1 2018: £31.8m) and operating losses narrowing from £33.4m in H1 2018 to £1.5m in H1 2019. Recurring revenue improved by 12.5% to £17.1m (H1 2018: £15.2m) and now represents 54% of total revenue (H1 2018: 48%). Adjusted EBITDA was down 4.3% to £4.4m (H1 2018: £4.6m).

Following the exit of its loss-making Digital division, Idox continues to focus on three core divisional units. The largest, Public Sector Software (which now incorporates its Health division following integration of the 6PM group), represented 62% of total revenue during the period. Here revenue was down 4.0% to £19.4m (H1 2018: £20.2m), however, recurring revenue in the division improved by 18.7% to £11.4m (H1 2018: £9.6m).

Engineering Information Management was down 4.1% to £4.6m (H1 2018: £4.8m), but management report a return to growth in orders and an expectation that this improving trend to continue. Finally, the European-focused Content division achieved growth of 10.3% to £7.5m (H1 2018: £6.8m) following strong performance in its Netherland's-based grant consultancy solutions business.

There has been a great deal of change since David Meaden was appointed CEO of Idox in June 2018. Rob Grubb joined as CFO and Chris Stone came in as Chairman in November 2018; Jonathan Legdon, formerly Managing Director at NGA Human Resources, was appointed as COO and Andy Jones, previously at Capita, joined as Sales Director for the Public Sector Business earlier this month.

There is no doubt, rectifying what was previously described as a perfect storm of issues, has been extremely distracting, particularly for the Public Sector division. Meaden has steadied the ship and it appears these issues have now been fully addressed. The business has been simplified, it has a stronger management team in place, has made good progress in accelerating its SaaS offerings, and has a solid customer base from which to grow its market share. However, with net debt standing at £25.3m and the business still loss making there remains work to be done. A stronger operational and financial performance is expected in the second half of the year.

Posted by Dale Peters at '09:09' - Tagged: results   public+sector   software   H1  

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Monday 22 July 2019

SThree CEO sticks to the playbook

logoHaving trailered the company’s half-time results last month (see New CEO presides over ‘in line’ SThree), Mark Dorman, recently appointed CEO of UK-headquartered multibrand recruiter SThree, used today’s interims report (six months to 31st May) to lay out his views on the prospects for the business.

Dorman intends to stick to the playbook that has evolved under his predecessors, with the ambition for SThree to be seen as “the number one STEM (Science, Technology, Engineering and Mathematics) talent provider in the best STEM markets.” This is an eminently sensible ambition and sets out SThree’s stall in clear and simple terms. The challenge is, of course, 'execution', not just in achieving its aspirational market position, but in making the numbers work across the business.

This is a particular issue for SThree’s home market, where net fee income (including Ireland) fell by 9% as a result of a 6% drop in contractor NFI and a worrying 25% drop in permanent NFI. UK&I now represents just 14% of the total, down from 18% a year ago. The upside is that NFI in all of SThree’s international businesses grew double digits, lifting group NFI by an aggregate 9% in the period. SThree’s presence in its chosen STEM disciplines (in which I include Technology, Life Sciences and Engineering) remained broadly stable, representing some 74% of NFI.

Dorman is sanguine about H2 and expects to make the FY numbers. As he now has his hands firmly on the tiller, it will now be up to him to sail SThree successfully across the finishing line.

Posted by Anthony Miller at '08:18' - Tagged: results   recruitment  

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Monday 22 July 2019

Another strategic investment for Ascential

AscentialUK media and information services company Ascential, has reported a strong set of interim financials, coupled with news of a strategic investment. The specialist provider of events and information services reported organic growth of 8.7% with revenues for the first six months of 2019 reaching £236.2m. EBITDA grew organically by 9.3% to £76.7m whilst operating profit was up 23.3% to £36m.

Ascential revealed that it is taking a 35% stake in Jumpshot Inc, the marketing analytics subsidiary of cybersecurity specialist Avast plc. The company has an option to acquire majority control of Jumpshot, subject to certain conditions. Founded in 2015, Jumpshot, provides insights into consumer behaviour online in respect of brands, ecommerce and other partners. The company is headquartered in San Francisco and has offices in London, New York and the Czech Republic.

Ascential has been evolving its business model of late (see: Ascential’s digital shift continues) and has made a number of acquisitions (including: WARC, Media Link, One Click Media and Clavis). Analytics is one of the key battlegrounds in the marketplace and Ascential's customer base and global footprint should provide a platform for Jumpshot's future growth. Meanwhile Jumpshot's offerings should help to enhance the value of the services that Ascential provides to its customers. 

Posted by Jon C Davies at '08:06' - Tagged: acquisitions   M&A  

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Monday 22 July 2019

Eloomi employee experience proposition bags $14m funding

logoEmployee experience is close to customer experience in terms organisational performance, which is why it is garnering more attention from end user organisations, software and IT services suppliers (like Unit4) and investors. Copenhagen based Eloomi is one of the latest to benefit, via $14m funding. The round was led by London and Silicon Valley based growth equity fund Kennet Partners, with participation from existing investor VF Venture

Eloomi was established in 2015 and set up its London office in 2018. It wraps learning management and performance management into a single cloud platform designed to improve the employee experience, designed for the mid-market. What is notable is that alongside core capabilities that include onboarding, training, 360-degree feedback and performance appraisals, there is a focus on getting people up to speed quickly and continual development. Sophos, one of its UK customers, uses Eloomi for compliance and for continual training for its go-to-market team.

In an environment where many key skills are scarce and issues with employee retention and salary inflation are unwelcome consequences, organisations need to train their own people and provide an attractive environment. With the pace of transformation, employees also need to be able to undertake continual development.

Eloomi’s rounded focus has so far attracted 400+ customers – and the sizable funding. The funding level also reflects 100%+ CAGR revenue growth. These characteristics also caught the attention of Adam Hale, who previously steered mid-market cloud HR specialist Fairsail on its successful journey and sale to Sage Group in 2017. He has joined the company as chairman, attracted by the clarity of purpose, focus on the employee experience and its growth profile – a startup that is growing at the same fast rate as Fairsail was.  

Posted by Angela Eager at '08:00' - Tagged: funding   startup   software   hrtech  

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Friday 19 July 2019

IFS on rapid trajectory

logoThere’s definitely a feelgood factor coming from IFS, illustrated by management’s decision to raise 2019 full year revenue guidance on the back of strong H1 performance. 

The enterprise software provider, who serves asset intensive and service management focussed businesses, saw business accelerate in H119 with revenue up 24% to 2,996m SEK ($322m). Adjusted EBITDA soared 85% yoy although as the privately held company (backed by PE firm EQT) is not obliged to release full results, the actual figure and net profit is unknown. H119 results followed an upbeat FY18.

The company does appear to be on a rapid trajectory, as adjusted EBITDA increased 69% in Q119 vs. Q118, and 97% in Q219 vs. Q218. It secured its largest deals in the company’s history during H119, while bringing in new customers. IFS has not been the fastest mover in terms of cloud shift and while H1 stats such as a 48% increase in license revenue and a 58% increase in cloud revenue (excluding revenue from the WorkWave acquisition) are positive, they also suggest a customer base skewed towards the on-premise model. We know IFS is working on cloud adoption - without forcing customers to shift - nevertheless the company does need to keep a keen eye on pace and timing. 

It all led to increased FY19 guidance of 6.35bn SEK (US $711m), which would be a 21% yoy increase.

Posted by Angela Eager at '09:59' - Tagged: results   cloud   software  

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Friday 19 July 2019

Microsoft pulled another big year

logoBig Q419 and FY19 numbers tell a big story at Microsoft. The products and services that have established themselves as growth drivers (including Azure, Office 365, Dynamics 365) are securely bedded in and producing sustained results. 

These can be seen in the 12% increase in Q419 revenue to $33.7bn and the 14% full year uplift to $125.8bn. But there are a host of other offerings rising to the surface that are supporting that growth and set to do more, from Teams to the Power Platform and a new class of AI apps that were revealed at the Ignite conference. 

It’s been a good while since Microsoft was reliant on a single product for the bulk of its revenues but what we’re seeing now is more than a multi-product/multi-service company, it is a company where each offering reinforces adoption across the rest of the portfolio. A review of the most recent year against the prior year, shows the effect building. One of the results is larger, multi-year deals, which Microsoft highlighted as one of the growth drivers for Q4/FY19. The latest being the $2bn deal with AT&T that includes widescale deployment of Office 365 and moving workloads to Azure. The contract is positioned to feed cloud revenue over several years. 

Divisional results indicate the reinforcement effect with all three Microsoft divisions at similar revenue levels and two of the three producing double-digit growth. At $11.4bn, with 19% growth, Intelligent Cloud is now the largest division. Of course, it is home to Azure, which saw 64% growth yoy. Azure growth is moderating, reflecting the size of the business and the unsustainability of previous growth of near 100%. It is established as a firm number two to powerhouse Amazon Web Services and is pulling in large deals. Productivity and Business Processes was up 14% to $11bn, once again driven by Office 365, Dynamics 365 and LinkedIn. More Personal Computing delivered a more prosaic 4% revenue increase to $11.3bn but is benefitting from the move to Windows 10. 

Even at these growth levels, investment in R&D across its huge portfolio and acquisitions including the $7.5bn GitHub acquisition, Microsoft is still improving the bottom line (even with tax benefits) with net income up 49% in Q4 to $33.7bn and operating income up 20% to $12.4bn. For the full year net income rose 137% to $39.2bn, with operating income up 23% to $43bn. 

Posted by Angela Eager at '09:50' - Tagged: results   cloud   software   AI   machinelearning  

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Friday 19 July 2019

WNS Q1 sees UK resilience but currency headwinds

WNSSolid Q1 results in from BPS specialist WNS show revenue of $214.6m, up 7.4% on Q1 last year and up 1.9% from $210.5m last quarter. Operating profit was $27.6m, compared to $22.4m in Q1 last year and $29.7m last quarter. Sales wise WNS added six new clients, expanded 11 existing relationships and renewed 16 contracts. Q1 adjusted operating margin came in at just under 23%.

Turning to the UK management played up the resilience of the business here highlighting continued strong client demand and a healthy pipeline that has kept the UK operation expanding quarter-on-quarter (although no specific figures given) but flagged up the issue of the falling pound and how that might impact US$ reporting businesses like WNS with significant exposure to the UK.

WNS provided updated guidance for fiscal 2020 with management expecting net revenue to be in the range of $855m to $895m representing y-o-y revenue growth of 8% to 13%.

All in all, pretty good stuff.

Posted by Marc Hardwick at '09:23' - Tagged: results   WNS  

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Friday 19 July 2019

BT links Schindler’s lift

BT links Schindler’s liftBT’s contract with international elevator and escalator firm Schindler shows it can compete with rival network providers on global reach, performance and cost when it comes to delivering core voice and internet connectivity to large, geographically distributed organisations.

Financial details were not disclosed but the multi-year deal will see BT link up to 500 sites – including data centres, factories, offices and contact centres - through its IP Connect network service.

Schindler is exactly the type of multinational corporation (MNC) BT is targeting with its new “asset light” strategy (see *UKHotViewsExtra* BT Global Services strategy update: trust and technology take centre stage). But while further details may eventually emerge, for the moment we see little evidence of any managed services provision being delivered as part of the agreement.

We guess BT would have seen a better margin from the contract had it been able to supplement additional layers of cloud hosting and managed security for example, or provide the Internet of Things (IoT) connectivity for Schindler’s smart elevators and escalators (a deal won by rival Telefónica earlier this year).

Posted by Martin Courtney at '09:17' - Tagged: networkmanagedservices   telecommunications   Schindler  

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Friday 19 July 2019

*UKHotViewsExtra* Did HPE make a success of the RedPixie acquisition?

hpeA little over a year ago, HPE announced its acquisition of London-based RedPixie with the intention of deepening its capabilities in cloud consulting, app development and services for migrating workloads to the public cloud. Competition to buy the small Shoreditch-based company was intense as RedPixie had made a name for itself as a Microsoft Azure specialist. red

The acquisition was part of HPE’s broader strategy to build out capabilities in hybrid IT, and followed the purchases of Cloud Cruiser (technology to track, measure, and control cloud usage) and Cloud Technology Partners (services to move clients to/operate in the cloud - including its own IP) in 2017.

Acquisitions such as RedPixie can, however, be very risky – something HPE was well aware of. Often the greatest challenge with small transactions by large players is that they fizzle to nothing, usually as the core hub of talent decides it doesn’t like corporate life and departs shortly after the earn-out.

So did the HPE team in the UK get this one right?

Find out here: Did HPE make a success of its RedPixie acquisition?

Posted by Kate Hanaghan at '09:11' - Tagged: cloud   hybrid  

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Friday 19 July 2019

Book your place for an Evening with TechMarketView!

There are just two months to go until the doors open for the seventh annual ‘Evening with TechMarketView’ on 12 September at RIBA, London. We’re looking forward to welcoming over 200 UK tech CXOs to the evening event, which has been described by attendees as ‘the best networking event in the industry’.

TMVEJoin us from 6.30pm for a welcome drinks reception, supported by InterSystems, then take your seat in the auditorium as TechMarketView’s expert analysts take to the stage to share insight and analysis on the trends and suppliers shaping the UK tech market under the banner of TMV’s 2019 research theme – ‘The Year of the Relationship: Extend. Evolve. Optimise’. You can also look forward to a fireside chat with our guest speaker, Mastercard’s EVP for Global Cities, Miguel Gamiño. Prior to joining Mastercard, Miguel served as the CTO of New York City, pioneering a new civic engagement and innovation platform for NYC and he has stood as a voice of leadership in tech policy, including smart city and IoT programmes.  The evening is rounded off with a superb three-course silver service dinner, providing further networking opportunities, supported by Datto.

Tickets are selling quickly so don’t risk missing your chance to join us for an enjoyable evening of analyst insight and quality networking – book your place now! There are also a limited number of tables of 10 available so why not gather a group of colleagues or clients and bring them along for the evening too?

Don’t forget that if you are a TechMarketView subscription client, 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 the discounted TechMarketView ticket price. See the full details and booking form here.

Event details

Date: Thursday 12th September 2019

Venue: Royal Institute of British Architects, London

Format: A networking drinks reception commences from 6:30pm, supported by InterSystems. This will be followed by 90 minutes of speaker sessions and a first-class silver service dinner supported by Datto.

For more information contact tx2events at 020 3137 2541 or

CLICK HERE to book now!

An Evening with TechMarketView is proudly supported by:

InterSystemsDatto logo

AqillaKimble

Posted by HotViews Editor at '08:50'

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Friday 19 July 2019

Serco settlement rescues Capita MoD Fire service deal

SercoSerco announced yesterday that it had reached a settlement with the Ministry of Defence (MoD) on its legal challenge over the award of the Defence Fire and Rescue Project (DFRP) to Capita.

CapitaSerco and the MoD have reached an agreement described as “amicable and constructive” by Kevin Craven, Serco CEO for UK & Europe, that sees it drop its case in exchange for £10m compensation – that should at least go some way to covering bid and legal costs.

MoDThis now frees the path for Capita to get on with transforming the Defence Fire and Rescue service, a contract that was originally handed to them back in June last year. This is a big win for Capita worth some £525m over 12 years to operate and modernise 53 MoD fire stations in the UK, Cyprus and the Falklands. Capita will also build and manage a new, centralised training facility for Defence firefighters at its Fire Service College in Gloucestershire.

Capita has been conspicuously quiet on the contract announcement front of late and with few mega-deals in the market will be delighted to have got this one over the line. However, whilst Capita is promising to invest here in new digital technology solutions it’s hard to argue that a service of this nature (mainly blue collar and asset heavy) fits with Capita’s new strategy to pivot towards more tech enabled, higher value services.

Serco will also be pleased to be able to draw a line under this and move on without too much collateral damage to its relationship with a core client.

Posted by Marc Hardwick at '08:14' - Tagged: contract   defence   bpo  

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Thursday 18 July 2019

Memorial Service for Dr Doug Eyeions

Further to my post on the death of Dr Doug Eyeions, I have been asked to let readers know that a Memorial Service will be held at 2.00pm on Sat 10th Aug  at the Court Room, 5-7 St Andrew St, Holborn, London EC4A 3AF.

If you would like to attend, please let his son Keith know on eyeons@hotmail.com.

Posted by Richard Holway at '22:11'

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Thursday 18 July 2019

Value from visualisation secures Zegami fresh funding

logoSalesforce’s $15.7bn acquisition of Tableau, coupled with activity at visualisation and data management peer Qlik, are sure signs that data visualisation is the next rung on the data value ladder. It’s not on the same scale but funding secured by Oxford-based start-up Zegami is another indication of rising interest in data visualisation. 

A 2016 spin-out from Oxford University, Zegami has developed a machine learning-enabled visual data exploration platform. What that means in practice is that data exploration is made accessible across the workforce rather than just by data scientists. The platform aims to take the pain out of filtering, tagging and sorting data, data exploration (e.g. identifying patterns), and interpretation, through the use of interactive visualisations. 

Automation, self-service and presentation of data in usable forms are key trends within the AI/ML area to improve accessibility and adoption. Zegami is firmly hooked into them which is why it has raised £1.25m in equity funding in a round led by RT Capital Management and the Oxford Technology and Innovations EIS Fund, with contributions from existing investors Oxford Sciences Innovation and Oxford University Innovation. The latest round takes total funding to £4m, and will be used to commercialise the software and develop commercial partnerships on the back of existing product development and use case studies that range from predicting heart disease, to visualising a collection of wall art, associated market values and dummy stock values and providing a dashboard to help HR professionals conduct people analytics.

Posted by Angela Eager at '16:33' - Tagged: funding   startup   AI   machinelearning   datamanagement   visualisation  

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Thursday 18 July 2019

SAM Labs secures $8.9m to scale US operations

SAM Labs logoLondon-headquartered SAM Labs has raised $8.9m (c.£7.1m) in a Series A2 equity funding round from investors including Partners in Equity and Inventures Investment Partners.

The education technology company, which was founded in 2014, produces smart construction kits aimed at improving children’s STEAM (science, technology, engineering, art and maths) skills. The kits include wireless electronic blocks, which provide functions, such as buttons, lights, sensors and motors, that can be integrated with Lego bricks and can be programmed using visual, flow-based coding apps. The system is currently used by more than 4,000 schools worldwide.

SAM Labs has now secured a total of $19.8m in investments, including a $6.75m Series A funding round, led by Touchstone Innovations and E15 Ventures in 2017; £3.2m seed funding from a group of investors led by Imperial Innovations in 2016; and a successful Kickstarter campaign in 2015 (see SAM Labs completes $6.75m funding round).

The latest funds will be used scale operations and sales in the US, where it has just launched a new Learn to Code Course Kit aimed at Pre-K-5 learners. It also intends to bring new education products to the US and UK.

As we commented recently (see here), more needs to be done to ensure no child misses out on opportunities to code at an early stage of their education. SAM Labs is one of many companies targeting the primary school coding opportunity. With many teachers lacking the confidence to teach programming at this level, products that make coding accessible and fun have a vital role to play. 

Posted by Dale Peters at '10:06' - Tagged: education   funding   coding   school   edtech  

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Thursday 18 July 2019

Workmanlike Q2 for SAP

logoQ219 was a workmanlike period for SAP, with solid numbers, no change to guidance (having raised it in Q1) and little excitement evident in management’s comments. Whether there is a different tone during the investor call later today remains to be seen.

Double digit top line growth was a good starting place, with revenue up 11% to €6.63bn. Within that the important cloud revenue line saw a 40% yoy improvement to €1.69bn – taking it to a milestone 25% of total revenue – and included new cloud bookings up 17% to€494m (bookings were up 24% in the year ago quarter). Respectable overall. However, software licence revenue fell by 5% to €948m, which SAP put down to US-China trade wars, although the licence decline was a steeper 9% in the Q218.

Operating profit fell a sharp 21% to €827m, with Q2 impacted by restructuring charges and the $8bn Qualtrics acquisition. Restructuring costs for the quarter were €199m (see SAP restructures to protect cloud growth). This may have contributed to the subdued tone because being seen to enthuse during a programme of early retirement and redundancy (albeit some voluntary) would hardly be politic. 

The SAP S/4HANA metric continued its upwards trajectory, adding 600 new customers during the quarter (to 30 June) taking the total to 11,500, up 29% yoy. Surprisingly, there was no update on live implementations. Nor was there much insight into progress with Leonardo – just one new and one live customer named. S/4HANA is attracting new customers – 50% are net new to SAP – which is positive but also suggests existing customers are staying with on-premise implementations. SAP’s cloud growth appears to be coming from other offerings such as SuccessFactors and the Intelligent Spend division (this sector grew 22% to €786m). The Customer Experience division (which includes the relatively new C/4HANA and Qualtrics) expanded 81% but only to €365m.

A positive top line but mixed performance elsewhere indicates SAP is working hard to keep the cloud, license and transition juggling balls moving at the same pace and height. 

Posted by Angela Eager at '09:55' - Tagged: results   cloud   software   digitaltransformation  

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Thursday 18 July 2019

System C secures Walsall healthcare deal

System C logoWalsall Healthcare NHS Trust has chosen System C to replace DXC Technology and supply it with an integrated clinical and administrative system. Under the 10-year deal, System C will replace the current Lorenzo patient administration system (PAS) originally from CSC/iSOFT, and several other clinical and departmental systems, with a new system based on its Global Digital Exemplar blueprint.

The new system, which will go live over the next 12 months, includes System C’s Medway PAS, a mobile emergency department solution, patient kiosks, integrated business intelligence, an upgraded e-observations system and the Medway Bluespier theatres system as a replacement for the existing Ormis theatre system. Crucially, the project will also see the development of an integrated health and care record for the local population of 270k through the new Walsall Together Partnership, which is hosted by the Trust.

System C won out over other bidders because of the high quality of its product, proven track record and clear approach to a genuine partnership, according to Daren Fradgley, Director of Strategy and Improvement for Walsall Healthcare. 

The fact that System C’s blueprint provides the Trust with a clear route towards a full Electronic Patient Record (EPR) was also key. Indeed, System C’s solution appears to be appealing particularly to smaller Trusts wanting to take a more phased, integrated approach to full EPR rather than embarking on an expensive, big bang ‘rip and replace’ project with one of the big US vendors. System C also has the advantage of being able to offer a route to an integrated health and care record, which is important under the NHS Long Term Plan - it already works with 84 local authorities who take its LiquidLogic social care software (see here for the history). 

By our calculations, Walsall will be System C’s 26th Medway EPR customer. Other Trusts that have recently switched to Medway include Barnsley Hospital NHS Foundation Trust (also previously a Lorenzo trust) and Brighton and Sussex University Hospitals NHS Trust, which replaced a legacy Allscripts PAS. In March, System C and the Graphnet Care Alliance, also secured a seven-year contract with the Thames Valley Health and Care Records Partnership to provide a new region-wide shared record and population health system.

Posted by Tola Sargeant at '09:52' - Tagged: software   socialcare   healthcare  

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Thursday 18 July 2019

Moneysupermarket.com reinvents for growth

MoneysupermarketUK based, price comparison site, Moneysupermarket.com has released interim results reflecting encouraging performance, in the first six months of the year. The financials (which were slightly inflated by the adoption of IFRS 16) revealed that overall group revenues, for the period ending 30th June, were up 15% to £199m whilst post-tax profit was up 18% to £50m.

The insurance market remains Moneysupermarket’s core segment and accounted for £96m of the company’s total revenue. Growth here was however slowest, at 3% year on year, whilst the company’s Home Services division saw revenues increase by 52% to £4m. Meanwhile, revenues from the company’s Money segment rose by 5% year on year to £46.5m.

Moneysupermarket’s “Reinvent” strategy, now in its second year, appears to be bearing fruit in respect of its two key goals of reinvigorating core growth and delivering growth from new markets. The company also appears to have benefitted from its recent investments in its product engineering teams and the successful integration of its 2018 acquisition Decision Tech.

Now a long-established brand, Moneysupermarket.com was in effect, amongst the first wave of FinTechs to bring disruptive innovation to UK financial services back in the 1990s. The company still has a high approval rating from its customers and its technology-based services continue to be greatly valued by many, for providing transparency and simplifying the process of securing value for money. Much of the innovation currently taking place within the financial services space is similarly customer focused (see: Open banking momentum starts to build) and this clearly remains one of the keys to long-term success.

Posted by Jon C Davies at '09:35'

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Thursday 18 July 2019

We choose to go to the moon...

MoonAt the start of 2019 I wrote about all the Significant Events of 1969.  You would literally have to be living on another planet not to know that Saturday 20th July is the 50th anniversary of the first Man on the Moon. I was one of the people who stayed up all night to watch Neil Armstrong make that Giant Leap for Mankind at around 4.00am.

I still can’t watch it without David Bowie’s Space Odyssey (first released in June 1969)  playing in my head.

“Here I am sitting in a tin can.
Far above the world.
Planet Earth is blue
And there’s nothing I can do..”

But the other thing always in my mind is President Kennedy’s speech of Sept 1962.

“We choose to go to the moon...We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard..”

When quoted, the last bit is often omitted. I often feel that so many people only ever do the ‘easy’ things but give up the moment they become ‘hard’. All the things that are really worthwhile doing in life are really hard. Sometimes I think we - and our children and grandchildren - need reminding of that.

Posted by Richard Holway at '09:33'

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Thursday 18 July 2019

*NEW RESEARCH* Social Energy - transforming energy markets with AI

COVEREvery so often at TMV we get to spend time with a business taking a very different approach to a traditional market, and (on the face of it) to look like they could make things very uncomfortable for the incumbents. Yorkshire HQ’d Social Energy (SE) is one such business - part green energy provider, part AI platform business, part energy trader. 

Originally established seven years ago, SE is at a critical part of its evolution having recently completed a Beta-launch in the UK and is now heading towards a proposed £50m funding round as it looks to turbo charge its first mover advantage.

We spent time recently with Social Energy CEO, Ryan Gill to discuss their vision to transform a multi trillion-dollar energy market.

Subscribers can read what we found out here: “Social Energy - transforming energy markets with AI

For subscription enquiries, please contact Deb Seth.

Posted by Marc Hardwick at '09:26' - Tagged: energy   utilities   AI   machinelearning  

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Thursday 18 July 2019

£106m awarded to Police Transformation Fund projects

Home Office logoThe Home Office has published details of the latest round of investments from the Police Transformation Fund (PTF). The PTF is intended to transform policing by investing in digitalisation, flexible workforce initiatives and new methods for responding to crime and threats.

This is the second round of allocations in Phase 2 of the PTF. In Phase 1 (2016-17 to 2017-18), 98 projects benefited from £223m of PTF funding (see Home Office invests a further £60m in police transformation). Phase 2 (2018-19 to 2019-20) shifted the focus to prioritising investment in delivering the major national programmes: National Enabling Programme; Specialist Capabilities Programme; Digital Policing Portfolio; Transforming Forensics; and Portfolio Management Capability.

Yesterday’s announcement saw £106m invested across 21 projects, with the largest award (£83.5m) again going towards the national policing programmes. The National Data Analytics Solution (NDAS), which was awarded £4.6m in the 2018-19 allocations, picked up a further £5.0m in this round. Details of all projects are available here.

NDAS was established in 2017 by a consortium of nine law enforcement agencies, led by West Midlands Police, with the intention of creating a scalable and flexible analytics capability for UK law enforcement using advanced analytics to deliver insights on high priority operational and organisational issues.

In its first year of testing, NDAS used police data on knife and gun offences to identify patterns and common traits among perpetrators. The new funds will allow further testing to be conducted on using machine learning to assess the risk of someone committing a crime or becoming a victim. If successful, the intention is to roll out NDAS nationally.

There are obvious ethical considerations about the use of advanced analytics in law enforcement. In 2017 the Alan Turing Institute Data Ethics Group and the Independent Digital Ethics Panel for Policing raised a number of concerns about NDAS, but praised the efforts taken to develop an ethical as well as legally compliant national analytics capability. Since then further ethical safeguards have been put in place, which will be vital if the service is going to be delivered with the approval of the public.

Posted by Dale Peters at '09:20' - Tagged: police   analytics   government   data   police   police   police   police   digital+transformation   ethics  

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Thursday 18 July 2019

Firstsource looks to Cognizant for digital leadership

FirstsourceOutsourced customer management specialist Firstsource has chosen to appoint current Head of Cognizant’s Digital Operations Vipul Khanna as its new MD and CEO with effect from August.

Vipul KhannaKhanna’s digital focus and experience fits well with Firstsource’s needs and its current direction that has seen improving profitability on a digital push. As with most of the other large contact centre outsourcers digital revenues as a % remain relatively low compared to other parts of the SITS market and it is looking to do much better. Digital revenues were 9% in FY19 and are expected to grow to 13-15% of revenues in FY20. Khanna will be looking no doubt to drive this much higher during his tenure.

Current CEO Rajesh Subramaniam was part of the founding team back in 2001 and has taken the decision to step down having developed Firstsource into a serious customer management player with a strong onshore presence in the UK that now accounts for some 44% of its global revenues. 

Firstsource continues to make steady progress but needs to get itself truly ‘match fit’ for digital – bringing in Khanna with his digital expertise looks like the right decision at the right time.

Posted by Marc Hardwick at '08:59' - Tagged: appointment   customermanagement   CEO  

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Thursday 18 July 2019

IBM cranks the quarterly profit wheel

ibmIf industry watchers were expecting an update on the Red Hat deal in the Q2 announcement they would have been disappointed. The transaction officially closed last week, but we’ll have to wait until the 2nd August for more information - along with an update on full-year financial expectations.

In terms of Q2 finances, IBM said revenue was down 1.6% (constant currency) to $19.2bn, driven by an 18% decline in Systems (hardware and operating systems software) and a 4% decline in Global Technology Services (a much bigger business at $6.8bn). Cloud & Cognitive Software was up 5%, while Global Business Services was up 3%.

Operating gross margin increased by 100 basis points – the largest increase in over five years – driven by a combination of software revenue growth, services productivity and cloud scale efficiencies.

We are at a pivotal point in market evolution. Many organisations are using cloud (to varying degrees) and are starting to adopt the kind of front-end solutions that hint at the real potential for digital technologies. But typically, this ‘simple’ digital doesn’t even begin to tackle the much more complex and highly scaled digital challenges organisations face. Enabling the latter - specifically via hybrid cloud - is key for IBM, which is why analysts and investors alike are watching the Red Hat progress like hawks. The deal is a bold move, but fundamental progress will not happen if suppliers simply tinker around the edges. 

Essential reading on the evolution of digital: TechMarketView’s recently released Market Trends & Forecasts 2019-2022.

Posted by Kate Hanaghan at '08:49' - Tagged: results   cloud   hybrid  

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Thursday 18 July 2019

Temenos banks on explainable AI with Logical Glue

TemenosLeading Swiss banking software provider, Temenos, has completed the acquisition of UK based vendor, Logical Glue, for £12m. The specialist provider of “explainable” AI to financial services providers, was co-founded in 2012 by Professor Hani Hagras, a renowned global expert in Fuzzy Logic and XAI systems. Logical Glue is also a former TechMarketView “Little British Battler” (see: Machine learning market and emerging suppliers), its award-winning AI platform, XAI, has increasingly been gaining popularity with banks in the UK and Europe.

As AI has become more and more sophisticated, outputs and ultimately decisions have become increasingly opaque. Explainable AI provides a degree of transparency and helps users to better understand the rationale behind the outputs of AI and Machine Learning. Regulators are increasingly mandating that institutions be able to explain automated decisions that affect their customers (e.g. GDPR includes ‘a right to explanation’ for all decisions made by AI). Ultimately explainable AI enables business users to have more confidence in the process when making decisions.

The addition of Logical Glue is another positive step by the Swiss vendor, which recently launched a “cloud-native”, cloud agnostic, iteration of its core banking platform T24 (see: Temenos addresses the banking industry imperatives). Temenos plans to immediately embed XAI into its banking platform, making it available for use with all of its various software offerings, both on premise and via the cloud. The vendor hopes that XAI will accelerate adoption of AI by its customers and help them to automate manual processes with self-learning capabilities.

Posted by Jon C Davies at '08:41' - Tagged: acquisitions   M&A   littlebritishbattler  

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Thursday 18 July 2019

Netflix shares slump as US subscribers desert

NetflixNetflix is a bit ‘left field’ from our normal reporting range. But warrants a mention as it  is part of the FAANGs or the FANMAGs (ie including Microsoft) as I prefer.

Last night, for the first time ever, Netflix reported a 126,000 fall in its paid subscribers in the US from 60.2m to 60.1m in Q2. This was after it increased its prices in the US from $11 to $13 pm. Worldwide it added 2.7m new subscribers (total now 151.6m) - way below analyst estimates of a growth of 5m.

Q2 revenues increased 26% to $4.92b. Net income reduced from $344m in Q1 to $271m in Q2

Netflix shares slumped 12% in after-hours trading.

Netflix’s problem is that it now faces competition from all kinds of players - new and old. It’s now far from being a ‘one stop shop’. You may think that its most popular shows are its original content. Whereas actually its most popular shows are old reruns of Friends and The Office. That will end soon as AT&T pulling both from Netflix to put on HBO Max set to launch in spring 2020.

Another ‘issue’ is that it is easy to share Netflix passwords. Some 14% of Netflix users view using a shared password according to researchers MoffettNathansn. Only 6% of Amazon Prime passwords are shared. But whereas there is little at risk in sharing your Netflix password, why would you share your Amazon prime password thus allowing others see what you are purchasing or even to buy on your account?

Many analysts are suggesting that Netflix’s Glory Days are over. On the evidence stacking up, I cannot but agree.

Posted by Richard Holway at '07:54'

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Thursday 18 July 2019

European growth remains elusive for Wipro

WiproOffshore services major Wipro has kicked-off FY20 with a steady Q1. Sequential top line growth of -0.7% qoq landed at the bottom end of the guidance for the three months to 30th June. Constant currency revenue, adjusted to take account of the divestment of its hosted data centre services and Workday & Cornerstone businesses, was up 5.9% yoy to $2.04b. Unadjusted, sales for this latest quarter rose by just 2.5% against Q119. Operating margin again improved lifting by 80bps over the same period last year to a creditable18.4%.

Wipro’s rotation to the new continued to gather pace (see Wipro Digital grows up fast for more details on this). Revenues generated by digital services in Q120 increased by nearly 35% yoy. From geographic and vertical industry perspectives, the Americas and Financial Services were the star performers last quarter both growing their top lines by over 11% yoy.

Although the European revenue decline posted in Q419 appears to have been arrested, this side of the pond again proved hard work for the company. First quarter sales here were flat yoy. Given that the UK accounts for nearly 50% of Wipro’s business in the region, it is reasonable to assume that the performance in this country followed suit.

Looking ahead to Q2, the company is expecting to achieve sequential constant currency revenue growth of 0.0% to 2.0%. While this indicates an uptick in business momentum, it still leaves Wipro struggling to hang onto the shirt tails of its Tier 1 IPP rivals.

Posted by Duncan Aitchison at '07:53' - Tagged: results   offshoreviews  

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Wednesday 17 July 2019

BT property sell off begins with £209m deal for London HQ

BT property sell off underway with £209m deal for London HQThe sale of BT’s London headquarters could make a £209m dent in the telco’s £1.5bn three-year opex reduction target outlined last May (see BT Strategy Update: Consumer investment and enterprise cost reduction hold sway).

After a six month delay BT finally agreed a £209.5m sale and leaseback deal for its flagship office with Orion European Real Estate Fund V, managed by Orion Capital Managers, on the back of buoyant London property prices. The move will see staff continue to occupy the site in St Paul’s for around 30 months until they can be transferred to a new London office, the location of which is yet to be announced.

Nor is St Paul’s the only BT site being sold off to cut costs (alongside shedding around 13,000 jobs) over the next few years. Chief executive Philip Jansen revealed plans to axe as much as 90% of its real estate last month as he builds on predecessor Gavin Patterson’s plan to transform the telco into a smaller, leaner and ultimately more profitable company to better match its rivals in the telecoms and managed services space.

These are painful, but most agree necessary, measures for BT which saw its FY19 turnover flat as consumer growth was once again offset by declines in its business units. Most of the cuts will fall on the Enterprise and Global Services divisions (see *UKHotViewsExtra* BT Global Services strategy update: trust and technology take centre stage) and the telco faces a tricky task in undertaking such a seismic restructuring while simultaneously expanding its infrastructure and services framework to exploit new market opportunities.

Posted by Martin Courtney at '09:54' - Tagged: consolidation   telecommunications  

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Wednesday 17 July 2019

ESN: further delays and cost increases seem inevitable

Public Accounts Committee logoThe House of Commons Committee of Public Accounts has published an update on the Emergency Services Network (ESN) programme to replace the existing Airwave communications system used by the police, fire and ambulance services in England, Scotland and Wales.

It is another scathing review of the progress the Home Office has made towards implementing ESN and follows similar criticism from the National Audit Office earlier this year.

The report states, although the forecast cost of ESN has increased by £3.1bn to £9.3bn, it is likely that Airwave will need to be extended further than December 2022 and inevitable costs will increase again. In May the Home Office agreed a 5% discount with Motorola in extending Airwave for three years to December 2022 at a price of £620m per year. The Committee said they are concerned the Home Office has limited leverage to secure value for money should, as is likely, Airwave needs to be extended further.

The Committee also called on the Home Office to analyse the skills and tasks needed to integrate ESN before it appoints a new delivery partner. In 2015 KBR was appointed as delivery partner to support the integration of the different elements of ESN, but the contract was not successful and was terminated in April 2019. The integration role now sits with the Home Office, but the Committee does not believe it has sufficient skills to undertake this role.

Although the Home Office still believes the financial benefits of ESN will outweigh the costs of continuing with the old Airwave solution, albeit seven years later than originally planned, the report says the forecast costs for the programme are not finalised and the business case is not expected to be approved until next year, over a year late.

The Committee says any further delay will weaken the argument for continuing with ESN and calls on the Home Office to set out a “plan B” for what happens should the programme cease to represent value for money.

Posted by Dale Peters at '09:47' - Tagged: police   communications   government   bluelight   police   police   police   police  

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Wednesday 17 July 2019

UK Market Trends & Forecasts 2019-2022: Do you understand Digital Chaos?

marIn UK SITS Market Trends & Forecasts 2019-2022, TechMarketView’s expert analyst team explains the most important – and some of the most complex – trends in the market.

The report introduces the idea that, across industries, we are witnessing digital chaos. Much early digital development was undertaken in an anarchic environment. Ironically, in the phase of digital maturity we refer to as ‘simple digital’ which has been focused on point, predominantly front-end solutions, the result has been an often-disorganised ICT estate that requires a degree of order to be restored. And that is without yet achieving the digital nirvana of cross-boundary (cross functional, cross-process, cross business unit) data flow that would bring the biggest value to organisations… something which is set to add yet another level of complexity.

The need to make sense of the disorder makes TechMarketView’s research theme for 2019 – ‘The Year of the Relationship: Extend, Evolve, Optimise’  – more pertinent than ever. End user organisations must create islands of stability within the chaos before they can even contemplate a move to truly disruptive digital transformation. Faced with a mountain to climb, and against a backdrop of political and economic uncertainty, risk aversion and caution will abound. IT suppliers will need to focus hard on relationships with clients, prospects, partners and employees if they are going to unlock digital investment.

As you read detailed market analysis from each of TechMarketView’s Research Directors, it will become evident that this digital chaos is influencing the rate of growth in the market over the coming years. In 2018, the performance of the UK SITS market improved, but we don’t expect such a rosy picture in 2019. And it will be a few years until we believe the environment will be ripe for an acceleration in ICT and digital investment.

Note, though, that the market is changing shape. At TechMarketView we have acknowledged this with the launch of our new market forecast model. TechMarketView’s Digital Evolution Model (DEM) – has been designed to shine a spotlight on the shift from spend on heritage – or legacy - ICT to spend on the ‘new’ (digital, platform and cyber). We have also sought to reflect the increasing breaking of boundaries between traditional ICT asset demarcations (infrastructure, applications, business process) by focusing primarily on the nature of what is being delivered (consulting, solutions, and operations). For suppliers, UK SITS Market Trends & Forecasts 2019 highlights where the opportunities lie, and how to benefit, considering shifting market demands.

To make sure you are prepared to respond to the evolving world, read UK SITS Market Trends & Forecasts 2019 now. Subscribers can also access the detailed market size and forecast numbers in either spreadsheet or PDF format.

This report should be read alongside UK SITS Supplier Ranking Report 2019 for a complete, and unrivalled, view of UK tech.

If you are not yet a subscriber, please contact our Client Services team (info@techmarketview.com) to gain access or to book a webinar presentation of the research by one of the analyst team.


To hear directly from the TechMarketView analyst team, come along to our annual Presentation & Dinner on Thursday 12th September 2019, London (more details here).

Posted by HotViews Editor at '09:26' - Tagged: cloud   cyber   digital   AI   platforms  

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Wednesday 17 July 2019

TechMarketView’s Supplier Rankings 2019: Who ranks where?

rankTechMarketView’s unique ranking of Software and IT Service providers in the UK market is now live.

Our annual – and highly anticipated – UK Software and IT Services Rankings 2019 is available for Foundation Service clients. The report contains our Top 60 ranking of suppliers, which has been compiled following detailed research into more than 200 publicly quoted and privately held companies.

We can now reveal that Capita holds on to the top spot despite suffering another tough year of transition as it looked to do “fewer things better”. Accenture, meanwhile, continues to chase Capita’s tail, with another solid year of market-beating growth. But it was players further down the rankings that really shone, with three players in the Top 30 achieving double-digit percentage growth. Amazon Web Services, for example, moves up five places with its seemingly inexorable growth.

Further down the rankings, performance is mixed, but there are plenty of established mid-sized players putting in an impressive show. Read the report to find out who they are.

The report also profiles each of the Top 30 suppliers, alongside analysis of the movement and performance of the Top 60 players in aggregate. Top 20 ranking tables are also provided for key horizontal market areas: Enterprise Software, Application Services, Infrastructure Services, and Business Process Services, giving readers unparalleled depth and breadth of analysis.

UK SITS Supplier Rankings 2019 is available here and should be read alongside TechMarketView’s UK SITS Market Trends & Forecasts 2019-2022 for a complete picture of the UK tech scene.

For further information on becoming a client, please contact our Client Services team: info@techmarketview.com.

Posted by HotViews Editor at '09:00' - Tagged: digital   AI   Suppliers  

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Wednesday 17 July 2019

Investors line up to back Curve

CurveInnovative, payments startup, Curve, has successfully raised $55m in a Series B funding round. The UK based FinTech, enables customers to consolidate all of their payments cards into one, via the Curve card and app. Curve’s “aggregator” approach not only simplifies payments and makes it easier for users to manage their spending, but also enables customers to access other benefits, such as loyalty bonuses and promotions.

The latest investment was led by Gauss Ventures and supported by Creditease, IDC Ventures and a number of others, including Santander InnoVentures. As a result of the latest funding, Curve is now valued at around $250m. The cash injection will be used to enhance the features available via the Curve platform and to support the company’s ongoing European expansion. Curve currently has around 500,000 users and plans to launch in the US in 2020.

In January, in a reflection of how the major incumbents in the card space feel threatened by the likes of Curve, American Express blocked functionality that enabled its customers to utilise the FinTech’s app (see: Amex throws a wobbly over Curve). Curve branded the move “anti-competitive” and vowed to refer the matter to industry regulators.

The stance taken by Amex highlights some of the “restrictive” practices of the global payments industry. Many of the traditional structures and relationships within the card space in particular are inefficient, expensive and self-serving. As newcomers like Curve continue to shakeup the industry with innovative, customer focused offerings, it’s not surprising that the incumbents are worried as their lucrative business models are undermined.

Posted by Jon C Davies at '08:57'

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Wednesday 17 July 2019

AppyParking bags £7.6m funding

AppyParkingLondon-based mobile kerbside parking firm AppyParking has secured £7.6m in Series A funding led by VC firm West Hill Capital with additional investment from Aviva VenturesSumitomoHyundai and Breed Reply.

Driving around looking for a parking space on busy residential streets is one of the many frustrations of urban life. The brilliantly named AppyParking’s proposition is to try and make this whole process more efficient – helping Local Authorities better manage their parking estate whilst saving drivers the hassle of driving up and down looking for a space.

AppyParking began mapping London’s road network’s parking restrictions last year showing users the location, rules and price for all on and off-street parking allowing motorists to link to Google Maps, drive to the parking space of their choice and then pay for the space. 

All of this is very welcome and extremely useful but it’s when sensors are added to the mix and placed in the parking spaces that it offers a step change. AppyParking is already working with Westminster and the City of London Corporation, where disabled parking bays use AppyParking’s sensors to identify if a car is already parked there. This type of sensor parking technology could be be vital in the shift to driverless cars.

Having spent many an hour looking for parking spaces in London streets I am already sold. With some serious transport and automotive players on board like Sumitomo and Hyundai there must be huge potential to tap into the burgeoning Smart City, autonomous vehicle and intelligent mobility projects happening worldwide.

Posted by Marc Hardwick at '08:30' - Tagged: localgovernment   funding   automotive   parking  

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