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DXC Bets $2bn on Recovery of Luxoft to Scale its Digital Capabilities
Jan 08, 2019, by NelsonHall AnalystYesterday morning, DXC announced its intended acquisition of Luxoft in an all cash transaction of $59 per share, around $2bn. This represents a 48% premium over Luxoft’s average closing share price over the previous ninety days (and ~86% premium on Friday’s closing price). The deal is expected to close by end June 2019. In recent years DXC (including as CSC) has made a number of[...]
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IBM Reinvigorating Its Enterprise Application Services by Developing Watson-Enabled Industry Solutions
Sep 14, 2016, by NelsonHall AnalystUnsurprisingly, given its investment in, and focus on, Watson, IBM declared at a recent Alliances Analyst Day that 2016 is 'the year of cognitive'. The intent of the meeting was to look broadly at how IBM is working with its key alliance partners, including SAP, Oracle, and Microsoft, and it is clear that IBM’s focus is on incorporating cognitive capabilities and broadening th[...]
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Capgemini: Seeking to Reduce Friction and Accelerate Clients’ Speed to Value
Aug 05, 2016, by NelsonHall AnalystThe digital economy is significantly increasing expectations for speed of delivery as organizations strive to compete with agile, digital-native competitors. In response, IT service providers and their clients are shifting to a continuous delivery approach that incorporates design thinking, agile application development & test, and DevOps – all connected and aligned with the desire[...]
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Serco's Profits Decline Following its Annus Horribilis
Mar 04, 2014, by NelsonHall AnalystSerco announced its 2013 results this week including: Revenue £4,288.1m up +5.6%, up +6.7% at constant currency (CC) Operating profit was £143.8m, a margin of 3.4%, down 330 bps The decline in profits was anticipated with a warning given by the company to this effect only a few weeks ago. In this period, Serco reported a net exceptional charge of £90.5m, reflecting p[...]
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Axelos to Accelerate Growth of U.K. Government's Best Practice Portfolio
Oct 28, 2013, by NelsonHall AnalystNelsonHall recently had a briefing with Axelos, the Capita and Cabinet Office JV that has been set up to commercialize the Government’s Best Practice Methodologies portfolio. Axelos was incorporated in July 2013, 51% owned by Capita, 49% by the Cabinet Office but governed by a separate board from the parent organizations. The company will be fully operational from January 1, 2014. Axelos [...]
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Serco's Woes Continue Despite Clearance by U.K. Government to Bid for New Contracts
Jan 31, 2014, by NelsonHall AnalystSerco has updated its guidance for 2013 and 2014 following its clearance by the U.K. government to bid for new contracts. Serco expects a mid-single digit percentage organic decline on 2013 revenue due to: Lower levels of incremental work won across the group to date Attrition from contracts lost such as electronic monitoring Volume reductions in its Australian immigration detent[...]
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Capita's Cedar Grows in U.K's Police Sector
Jan 22, 2014, by NelsonHall AnalystCapita acquired Cedar HR back in September 2011 for £15m to bring new market opportunities to the group. At the time there was much talk of police turning to technology and outsourcing for efficiency but a period of indecision preceded and followed the first-ever election of police and crime commissioners in November 2012. Against this backdrop, the Cedar seed has slowly geminated and starte[...]
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Northgate Information Solutions Announces 2013 Revenues Down 6% to £802m
Sep 02, 2013, by NelsonHall AnalystNGA's performance is in keeping with the HRO market which has been buoyant in recent months. The division's revenue will have been boosted by the Convergys acquisition as well as wining new contracts (e.g. Aer Lingus) and successful renewals (e.g. Fifth Third Bank). The restructuring of NPS division last year, to focus more on services, combined with a number of contracts starting in 20[...]