Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on Capgemini. We currently have 18 research reports from 1 professional analysts.
The proposed acquisition of Altran Technologies is a very positive operation for Capgemini. It brings highly-skilled consultants in R&D and high-tech engineering services in various sectors. The cash offer is not at an exorbitant price considering the market growth potential (+9%/year on average in 2017-22) and Altran Technologies’ operating margin is similar to that of Capgemini’s. The acquisition should be funded by cash and new debt (very probably at low cost). There are significant synergies expected in three years.
Organic revenue increased by +5% in Q1 19 (vs +6.1% in Q1 18 and +5.7% in Q4 18). In the US, organic revenue growth was softer than expected and the group is anticipating an acceleration in H2 19 thanks to some positive developments assumed in the insurance, retail and manufacturing sectors. All in all, Capgemini maintained its 2019 guidance.
Capgemini met expectations in FY2018. Organic revenue grew by 6.2% thanks to the development of digital and cloud services (>+20% at constant currency, c.45% of total revenue) and the operating margin improved by 0.2pt to 12.1% of revenue thanks to France, the Rest of Europe and Asia Pacific/Latin America. Capgemini is confident for FY2019. Guidance includes strong revenue growth (+5.5-8% at constant currency including acquisitions for 1-2pts) and an improvement in the operating margin to 12.3-12.6% of revenue.
Capgemini’s achievements were very satisfactory in Q3 18. At constant currency, revenue growth was substantial, +6.3%, in line with the trend seen in H1 18. Digital & cloud services (>+20%, 45% of group revenue) continued to be a strong growth driver as expected. Capgemini is confident for Q4 18 and revised upwards its 2018 revenue growth guidance at constant currency (>+7.5% vs >+7% including acquisitions).
Organic revenue growth accelerated in Q2 18 (+6.7% vs +6.1% in Q1 18) still driven by the cloud and digital revenue. The North American activities were the most dynamic and benefited from the integration of LiquidHub and Advance Lab. The operating margin improved in H1 18 thanks to Continental Europe. 2018 guidance was revised upwards at the top-line and unchanged at the operating margin level.
Q1 18 was a very strong quarter with organic revenue growth of 6.1% pushed by the comeback of North America (+14.8% at constant currency) and the solidity of the activities in continental Europe (+7% at constant currency). The Digital and Cloud offerings continued to be the growth driver and the related revenues exceeded 40% of total revenue.
Organic revenue growth was strong in Q4 17 (+5.6%). There was an impressive rebound in North America with double-digit growth and buoyant activities in Europe except for the UK/Ireland. The operating margin rate improved in line with expectations. Net financial debt decreased and represented 17% of shareholders’ equity.
In Q3 17, organic revenue growth (+3.1%) was slightly better than in Q2 17 (+2.9%). North America was back to strong growth (+6.9% at constant currency) and Europe (excluding the UK & Ireland) was buoyant (+4.7% in France and +6.8% in the Rest of Europe at constant currency). Q3 2017 figures Revenue reached €3,046m (+0.9%, +3.4% at constant currency). There was a negative currency effect (-2.4pts) and a change of scope (+0.3pt). Organic revenue growth (+3.1%) was slightly better than in Q2 17 (+2.9%). As usual, it was driven by the digital & cloud business (+23% at constant currency). At constant currency, Consulting services surged by 16% thanks to the investments made in North America and buoyant demand in digital transformation in the Rest of Europe. Application services (63% of group revenue) increased by 5.7% thanks to higher demand for the digital offerings in France, Germany, Scandinavia, Italy and Asia. Technology and Engineering services was up +3.8%, driven by France and North America. Conversely, Other Managed services dropped by 6.3% due to the on-going re-insourcing at HMRC in the UK and the contraction of managed services in Brazil. Bookings declined by 1% to €2,700m. This is not representative of an annual trend considering that new orders are not linear quarter after quarter. The group is expecting a higher order intake in Q4 17.
H1 17 was in line with consensus. Organic revenue growth was 2.7% (o/w +2.6% in Q1 17) and the operating margin rate was up to 10.5% of revenue (+0.3pt). The 2017 guidance is unchanged. H1 17 figures Revenue was €6,412m (+2.5%, +3% at constant currency). Organic growth was 2.7% (o/w +2.6% in Q1 17). The digital and cloud services continued to be solid growth drivers (+23% at constant currency) and represented 35% of total revenue. The most dynamic geographic areas were France (+4.7%), Rest of Europe (+7.9% driven by Germany, Italy, the Nordic countries) and Asia-Pacific/Latin America (+13.9%). The good news was North America was back to slight growth in Q2 17 (+1% vs -0.2% in Q1 17) leading to +0.4% in H1 17. In the UK/Ireland (-5.9%), the negative trend was related to the re-insourcing at HRMC as expected. By business, Capgemini had strong growth in Consulting services (+10.7% including the change in perimeter), Technology & engineering services (+3.5%), and Application services (+5.6%). Revenue was down in Other managed services (-6.6%, o/w -7.6% in Q1 17) still impacted by the re-insourcing at HMRC in the UK. The operating margin increased to €672m (+5%) corresponding to a margin rate of 10.5% of revenue (+0.3pt). The gross margin was stable (24.6% of revenue) despite some price pressure in North America and salary increases in India, selling expenses were up 0.1pt and G&A costs were down 0.4pts. By geography, the margin improvement was attributable to the UK/Ireland (+0.6pts to 15.1% of revenue), France (+0.5pt to 7.1% of revenue), the Rest of Europe (+2.2pts to 11.1% of revenue), Asia-Pacific/Latin America (+2.2pts to 6% of revenue). Conversely, North America had a lower operating margin (-1.9pts to 13.2% of revenue). The operating profit was €538m (+6%) after other operating expenses (net) of €-134m (+4.7%), o/w higher restructuring costs (€-50m vs €-31m in H1 16), rather flat acquisition-related amortisation of intangible assets (€-33m) and lower acquisition/integration costs (€-17m vs €-38m in H1 16). Group net profit was €375m (+3%) after lower net financial expenses (€-28m vs €-62m in H1 16) including a gain (€14m) from the early unwinding of currency swaps set up with the funding of the IGATE acquisition, and a higher income tax rate (27.5% vs 19.4% and 26.5% restated from the recognition of a deferred tax income in H1 16). Free cash flow reached €64m (vs €31m in H1 16). Investment in shares was €121m (vs €22m in H1 16), the dividend paid amounted to €262m (+14%) and share buy-backs represented €70m (vs €158m in H1 16). Net debt was €1,929m on 30 June 2017 (vs €2,278m on 30 June 2016).
Organic revenue growth was strong in Q1 17 (+2.6%). There was a stabilisation in the decrease in revenue in North America which is good news. Q1 17 revenue Revenue reached €3,171m (+2.6%, +2.8% at constant currency). The Digital and cloud offerings continued to grow quickly (+24% vs +28% in Q1 16) and represented 32% of total revenue. Organic revenue growth was strong (+2.6% vs +2.9% in Q1 16) despite the on-going re-insourcing at HMRC in the UK. The order intake decreased to €3,001m (-3.2% at constant currency), slightly below revenue (book-to-bill ratio of 95%). New orders are not linear quarter by quarter, in particular in Other Managed services. The comparison was unfavourable in Q1 17 considering the renewal of a major pluri-annual contract in the UK public sector in Q1 16. At constant currency, Application services (61% of total revenue, +5.3%) continued to benefit from strong demand for the digital and cloud-based offerings. The digital transformation also had a positive impact in Consulting services (4% of total revenue, +10.6% including small acquisitions) mainly in Continental Europe. The Local Professional services (16% of total revenue, +5%) benefited from the positive turnaround in France and an increase in the number of working days. Other Managed services (19% of total revenue, -7.6%) was still impacted by the re-insourcing at HMRC in the UK. Staff increase, more “offshore” headcount The workforce comprised 195,800 employees (+7% yoy). The “offshore” headcount represented 57% of the total (+2pts yoy). The attrition rate decreased by 1.4pt to 15.3% due to lower attrition rates in Application services (-1.7pt to 14.3%) and Other Managed services (-2.9pts to 16.5%). Conversely, the attrition rates increased in Consulting services (+1.5pt to 18%) and Technology and Engineering services (+1.1pt to 17.6%).
Capgemini should reinforce its presence in North America with the completion of the agreement related to the acquisition of the North American activities of Ciber for $50m. The operation is expected to be completed by the end of Q2 17. The deal excludes the international businesses of Ciber and some liabilities. The transaction will be implemented through the sale of Ciber’s assets under Chapter 11 for which Capgemini agreed to act as the stalking horse acquirer. The North American activities of Ciber represent total revenue of c.$275m and are loss-making at the operating margin level. The negative impact on the Capgemini’s operating margin should not exceed 20bp in 2017 (Capgemini’s 2017 guidance includes an operating margin of 11.7-11.9% of revenue before this acquisition). Management is expecting a positive contribution in H1 18. The workforce comprises 2,000 employees in the US and 1,000 employees in India. When the operation is completed, the acquired activities will be integrated in the US operations of Sogeti (technology and engineering services).
Despite a soft Q4 16 with organic revenue up 1.9% at constant currency, Capgemini achieved its guidance for revenue growth (+7.9% at constant currency vs +7.5-9.5% targeted) and the operating margin (11.5% of revenue vs 11.3-11.5% targeted). Igate contributed for 12 months (vs 6 months in 2015). Q4 16 figures: Revenue reached €3,263m (-0.2%, +1.9% at constant currency) and new orders were €3,879m (+3.9%, +5.4% at constant currency) representing a book-to-bill ratio of 1.19 (vs 1.14 in Q4 15). The change in overall revenue included a negative currency effect (-2.1%) mainly attributable to the pound vs the euro and a moderate change in the perimeter (+0.3%). Organic growth slowed (+1.6% vs +2.9% in 9m16) and was above the trend in Q4 15 (+0.1%). At constant currency and current perimeter, revenue growth (+1.9%) came mainly from Applications services (+4.9%) and Technology and Engineering services (+1.2%) to a lesser extent. Conversely, revenue decreased in Consulting services (-1.7%) and dropped in the Other Managed services (-5.3%). By geographic area, Europe was a growing region and France was the best performer (+5.9%), largely ahead of the UK/Ireland (+1%) and the rest of Europe (+2.4%) which included a slowdown in Benelux. North America was disappointing (-3.1%) due to the on-going weakness of the energy/utilities sector and slight growth (+1.1%) excluding this sector. Conversely, the Asia Pacific/Latin America area was fast-growing (+11.7%) driven by the strong development in financial services in Asia Pacific. FY2016 figures: Based on revenue of €12,539m (+5.2%, +7.9% at constant currency, +2.6% organically), the operating margin surged to €1,440m (+14%) and the margin rate improved to 11.5% of revenue (vs 10.6% of revenue in 2015) which was at the top of guidance (11.3-11.5%). New orders reached €13,027m (+13%, +14.5% at constant currency) representing a book-to-bill ratio of 1.04x. The order intake benefited from booking synergies related to the integration of Igate (>€300m). The currency impact was negative on revenue: -2.7pts, o/w 80% of this related to the depreciation of the pound vs the euro. The following growth rates are at constant currency: - The digital and cloud revenue continued to increase significantly (+29%) and represented 30% of group revenue. - By division, the Application Services and Technology/Engineering services were up 10.6% and 6.9% respectively (including the impact of Igate) while the Consulting services and Other Managed Services increased by 2.7% and 2.2% respectively. In Other Managed Services, there was a organic decline attributable to the UK public sector as expected (re-insourcing at HMRC), the weakness of the traditional infrastructure services due to the transition to the cloud and, finally, lower equipment resales (not in Q4 16). - Revenue increased in all geographic areas (North America: +14.5% including Igate on 12 months, France: +5%, UK/Ireland: +4.1%, Rest of Europe: +5.3%, Asia-Pacific/Latin America: +8.2%). The improvement in the operating margin (+0.9pts to 11.5% of revenue) was attributable to all divisions and all had double-digit margin rates (Consulting Services: +1.6pts to 10.7% of revenue, Sogeti: +1.2pts to 12.8% of revenue, Application Services: +0.8pt to 12.7% of revenue, Other Managed Services: +0.4pt to 10% of revenue). The picture was positive in all geographic areas (North America: +0.5pt to 15.4% of revenue including Igate for 12 months, UK/Ireland: +1.2pts to 14.6% of revenue, rest of Europe: +0.3pt to 10.5% of revenue, France: +1pt to 9.1% of revenue, Asia Pacific/Latin America: +2.4pts to 6.6% of revenue). Operating profit reached €1,148m (+12%) after higher restructuring costs (€-103m vs €-81m in 2015), amortisation of intangibles related to acquisitions (€-68m vs €-45m in 2015), acquisition/integration costs (€-69m vs €-55m in 2015). Group net profit reached €921m (-18%). The apparent decrease was due to the one-off non-cash gain of €476m related to the reassessment of deferred tax assets on US tax loss carry-forwards accounted in 2015. Excluding this item, group net profit grew by 14%. Net debt was reduced to €1,413m (-20%) at year-end 2016 thanks to substantial operating cash flow and FCF. The operating cash flow increased to €1,319m (+31%) and FCF was substantial at €1,143m (vs €825m in 2015) after stable net capex (€176m). Cash-out flows included principally the dividend paid (€229m) and share buy-backs (€340m). The proposed dividend was €1.55/share, +15% (3% above our expectation).
Organic revenue growth slowed in Q3 16 (+2.1%) compared to Q2 16 (+3.8%) and Q1 16 (+2.9%) but the commercial activity was dynamic in the light of the strong increase in new orders (+14% at constant currency). Q3 2016: Revenue reached €3,019m (-0.6%, +2.2% at constant currency) and new orders were €2,792m (+11.7%, +14% at constant currency). Overall revenue growth included a significant negative currency effect (-2.8pts) and a moderate change in perimeter (+0.1pt). Organic revenue growth was 2.1% (vs 1.5% in Q3 15). The digital and cloud solutions were the growth drivers (+25%) and represented 29% of total revenue. At constant currency and including the small acquisitions, revenue growth (+2.2%) came mainly from Applications services (+4.4%) and Consulting services (+3.1%) which was driven by the strong demand for digital and cloud transformation. Conversely, revenue increased slowly at Sogeti (Technology and Engineering services, +1.3%) and dropped in the Other Managed services (-3.3%) reflecting the impact of the re-insourcing at HMRC. On 30 September 2016, Capgemini had 187,616 employees (+5.4% yoy), o/w c.103,900 (+8.8%, 55.4% of the total workforce) were located in the global production centres offshore.
Capgemini had a good H1 16 including growth acceleration in Q2 16, in line with expectations. H1 16 earnings. - New orders were strong (€6,341m), above revenue (book-to-bill ratio: 101%). - Revenue was €6,257m (+11.6%, +14.4% at constant currency). Organic growth was 3.3%, o/w +3.8% in Q2 16. Total growth was driven by the digital/cloud offerings (28% of revenue, +32% at constant currency, including the impact of Igate). - At constant currency, including Igate, Application services (60% of total revenue, +17.2%, o/w +18.3% in Q2 16) continued to benefit from demand for the digital and cloud offerings. The digital transformation also had a positive impact in Consulting services (4% of total revenue, +8.1%, o/w +8.8% in Q2 16, close to organic growth). The Technology & Engineering services revenue (15% of the total revenue) grew by 13.1%, o/w 15% in Q2 16, and Other Managed services (21% of total revenue) had a lower growth rate (+9.3%, o/w +7.5% in Q2 16). By geography (at constant currency, including Igate), revenue growth was dispatched as follows: +36.2% in North America (Igate effect), +8.6% in the UK/Ireland, +4.8% in France, +6.9% in the Rest of Europe, +10.3% in Asia/Pacific and Latin America. - The operating margin surged to €638m (+31%) corresponding to a margin rate of 10.2% of revenue (vs 8.7% of revenue in H1 15), benefiting from the integration of Igate (consolidated in H2 15) and cost synergies but not only (growth in the digital and cloud, further industrialisation). - Operating profit increased to €510m (+14%) after higher acquisition and integration costs (€-38m vs €-9m in H1 15) and amortisation of intangible assets acquired related to Igate (€-35m vs €-9m in H1 15). Conversely, restructuring costs were rather similar yoy (€-31m vs €-35m in H1 15). - Group net income increased to €366m (+26%) after net financial costs (€-62m vs €-41m in H1 15) and lower income tax expense (-31%) due to the recognition of a deferred tax asset of €32m. The operating cash flow was positive at €113m (vs €-40m in H1 15), including higher tax paid (€-94m vs €-39m in H1 15). Free cash flow was €39m (vs €-98m in H1 15). Sigificant out-flows included share buy-backs (€-158m) and the payment of the dividend to shareholders (€-229m). On 30 June 2016, net debt was €2,278m (vs €1,767m at year-end 2015).
Q1 16 revenue Revenue reached €3,092m (+11.8%, +13.9% on constant currency). The change in scope relating to the contribution of Igate was significant (+11%). The Group continued to benefit from its fast-growing Digital and cloud offerings (+28% including a small contribution from Igate). Organic revenue growth was good and accelerated (+2.9% vs +1.5% in Q1 15). The order intake reached €3,128m (+17.6% on constant currency), broadly equivalent to revenue. On constant currency and including Igate, Application services (59% of total revenue, +16.2%) continued to benefit from demand for the digital and cloud offerings. The digital transformation also had a positive impact in Consulting services (4% of total revenue, +7.4% corresponding to organic growth). The Local Professional services and Other Managed services (respectively 15% and 22% of total revenue) enjoyed a similar growth rate (+11.2%) considering Igate’s respective activities. The total workforce increased by 24% yoy and the headcount “offshore” surged by 44% yoy reflecting principally the integration of Igate (c.30,000 employees o/w c.80% “offshore”). On 31 March 2016, there were 182,908 employees, o/w 55% “offshore” (100,000 employees), mainly in India (vs 48% of the headcount on 31 March 2015). The unchanged attrition rate at the Group level (16.7%) included a lower attrition rate in Consulting services (-2.8pts to 16.5%) and a higher attrition rate in Application services (+0.3pt to 16%).
Research Tree provides access to ongoing research coverage, media content and regulatory news on Capgemini. We currently have 18 research reports from 1 professional analysts.
CloudCall is expected to deliver revenue growth of +30% YoY in the six months to June. The company is making good headway into large enterprise accounts although sales cycles are somewhat elongated in this market segment. This growth performance continues the strong trajectory seen last year but is slightly below our run rate projections for 2019E and we are revising our forecasts accordingly.
Companies: Cloudcall Group
CloudCall published a trading update for H1’19, reporting strong commercial progress and reiterated management guidance on net user addition run-rate of >1,000/month for the year. A confluence of factors has led us to rebase our FY19E-FY20E nos for slight delays from: (1) a staggered rollout of the group’s recent enterprise contract win; and (2) time taken to implement SMS within MS Dynamics; alongside (3) additional headcount to smooth enterprise onboarding. However, with liquidity robust post the refinancing of the group’s revolving facility, we continue to view our thesis as intact. We reiterate our Buy rating on the shares as one of our top picks of 2019, seeing substantial upside potential to our revised 260p PT.
Companies: Cloudcall Group
Voyager AIR The Company will focus on the acquisition, leasing and management of primarily widebody aircraft, with asset management services to be provided by Amedeo Limited the IPO will comprise a Placing and Offer for Subscription of Shares to raise up to approximately US$200m. Uniphar, a diversified healthcare services business with a workforce of over 2,000, is looking to join AIM. Raising EUR135m with market cap on admission of EUR309.6m, expected 17 July 2019. Roxi Music UK music streaming service plans London IPO as it goes up against Spotify. They have appointed investment bank Arden Partners for an initial public offering (IPO) on the London Stock Exchange later this year.
Companies: CALL BIRD ABC KDR EMAN BST SCE ZEG SAG FUL
Instem has announced a positive H1 update, with all three areas of the business performing well in the period with new customer wins in Data Collection and increased volumes in Regulatory Solutions and Informatics. The move towards a SaaS model by both new and existing customers is accelerating, which bodes well for the future. Similarly, there is confirmation that Instem continues to capitalise on the opportunities afforded by the FDA’s SEND standard, with outsourced service revenues more than doubling YoY. Overall trading is described as in line with a positive outlook and we make no change to our forecasts this morning. Instem is one of our Best Ideas for 2019 and is successfully executing on a number of fronts, building strategic value along the way.
The Senate Banking Committee on Monday released the testimony of David Marcus, the head of Facebook's cryptocurrency projects ahead of his testimony Tuesday. In his prepared remarks, Marcus perfectly outlines the business model behind the social network’s upcoming Libra digital currency and its Calibra digital wallet. Microsoft might be the primary competitor for Slack, but the widespread adoption of Microsoft's software is not a major problem for Stewart Butterfield, co-founder and CEO of the messaging app. Last week, Microsoft said Teams had more daily active users than Slack. Cybersecurity company Symantec Corp has walked away from negotiations to sell itself to chipmaker Broadcom over price disagreements, people familiar with the matter said on Monday. Symantec's decision raises new questions over the future of the US antivirus software provider, which is looking for a new CEO and has been struggling to grow its business serving companies.
Companies: KAPE AVST CNS DFX ECSC FLX IGP NCC OSI SWG SOPH
Instem has published a trading update for H1 2019E – the group is trading well, and we make no changes to estimates. Highlights include a faster-than-expected transition to SaaS for new deals, a doubling of SEND-related sales, and a strong pipeline for H2. Cash collections appear robust, and the business is seeing strength across the board. FY 2019E will be H2-weighted (especially at the profit level, given the SaaS transition) but appears to be shaping up well.
Ideagen has reported prelims to April 2019 delivering, as ever, forecasts in line with the May trading update and unchanged expectations. Recurring revenue improved to 67% (FY17: 57%; FY18: 62%), en route to the target 74% by FY20, with a steady stream of well executed acquisitions to boost organic growth (currently 8%) in contributing to the grander ambitions in hand – to achieve the three-year objective of £100m (including c£30m acquired) revenue run rate by FY22. The Integrated Risk Management market is growing at 13% per annum (Gartner, measured by total contract value and not organic recurring revenue growth per IFRS15!), and the confident June Capital Markets Day demonstrated that the group has the depth in management and rigorous processes to accommodate momentum in growth. FY20 forecasts are unchanged, indicating headline 25% revenue growth (organic and acquired) and 32% EBITDA growth, and we issue maiden FY21 forecasts, knowing full well they will inevitably be boosted with the high probability of further acquisitions. Target 180p reiterated.
WANDisco has signed a deal to embed its Fusion technology within the migration and replication platform of a major enterprise cloud partner. We see this as a significant announcement that highlights the strategic value of its technology within the cloud ecosystem. Although details on the financial contribution are not yet provided, we expect it to lead to a big uplift in revenue from this partner.
GB Group’s Identity capital markets day was a deep dive into the group’s largest business (36% of FY19 revenues). With electronic identity verification (eIDV) a structural growth market, GBG has invested heavily in the business over the last four years, expanding geographically and adding new capabilities and data sets. We forecast the identity business to be the fastest growing division over the next three years, underpinning the group’s targeted double-digit organic revenue growth target.
Companies: GB Group
This trading update highlights the growing strength of Bango’s position. The payment processing platform continues to make excellent progress on the back of rapidly growing End User Spend (EUS), its revenues now covering the cash costs. The cash it generates will fund development of the new exciting data monetisation business, which has made an encouraging start; making early sales while its range of audiences offered expands. In turn, it should feed platform volumes in a virtuous circle to grow the whole group business. Overall, H1 revenue grew 64% YoY to £4.3m, assisted by a full half of Audiens. The full results are out in September.
Watershed events by their very nature have the power to reshape entire industries. Take cyber-security, which this week saw the UK's data privacy regulator (ICO) slap fines of £183.4m & £99.2m for GDPR breaches on British Airways & Marriott Hotels respectively. Enormous sums of money that will surely send shivers down the spines of Boardrooms worldwide.
Companies: Blancco Technology Group
FY 2019 has been transformational. SRT Marine has pursued a strategy to expand its world-leading AIS hardware business into global provision of complete Maritime Domain Awareness (MDA) solutions; a step change in scale of operations, revenue and profitability. Such major infrastructure projects are naturally slow and suffer political and budgetary uncertainties; delays and disappointments have been frustrating for both management and investors. Finally, a large national contract has been signed and is being delivered, with revenues booked in FY 2019 generating significant profits. Cash payment has begun but the bulk is to be received in FY 2020 leaving £1m net debt but £18m trade debtors in March. £4m of that has already been received on schedule. That contract and these results demonstrate that SRT is now a credible MDA player with huge market opportunities ahead; several other large contracts are in discussion and are expected to be signed and delivered in the next few years. We reiterate FY 2020 expectations for further growth in revenue, profits and most importantly cash flow on the back of a visible pipeline of projects.
Companies: SRT Marine Systems
WANdisco has announced a partnership with Databricks, a rapidly growing supplier of cloud-based analytics. The partnership aims to help enterprise customers using on-premise Hadoop analytics solutions to migrate to Databricks’ Apache Spark-based platform. No financial details are provided but an analysis of the Hadoop market suggests it could be a significant opportunity for WANdisco.
Australia's top three banks said on Thursday they have agreed to partner with IBM and shopping mall owner Scentre Group to test blockchain technology to digitize bank guarantees. The companies are exploring how to move away from paper-based bank guarantees to cut processing time and the risk of fraud, Australia and New Zealand Banking Group, Westpac Banking Corp and Commonwealth Bank of Australia said in a statement. The US government said on Wednesday it was reviewing licence requests from US companies seeking to export products to China's Huawei "Under the highest national security scrutiny" since the company is still blacklisted. In an email to Reuters, the Commerce Department said that as it reviewed applications, it was applying the "Presumption of denial" standard associated with Entity Listed companies, meaning applications are unlikely to be approved. Symantec shares surged more than 20% in extended trading on Tuesday after Bloomberg reported that Broadcom is in advanced talks to acquire the security software vendor. The deal is reported to be worth more than $16bn, implying an EV/Sales multiple of 3.40x (Bloomberg). Agreement on a deal was close but could be delayed until after the July 4 holiday, according to people briefed on the move.
Companies: KAPE AVST CNS DFX ECSC FLX IGP NCC OSI SWG SOPH TECH AMO IQE