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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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Wipro Makes Fresh Start in U.S. Healthcare Payer BPS with HealthPlan Services Acquisition
Feb 12, 2016, by NelsonHall AnalystWipro announced yesterday it is to acquire Tampa-based HealthPlan Services (HPS) from Water Street Healthcare Partners for $460m, including a $20m deferred consideration. HPS' 2015 revenues were $223m. It has achieved a CAAGR of 38% in the last three years, driven both from adding new healthcare payers and from the increase in individuals or groups eligible for[...]
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Brazil's Not Playing Ball But Teleperformance Continues to Blaze
May 23, 2014, by NelsonHall AnalystTeleperformance has had an impressive quarter that might have resulted in 9.1% growth if it wasn't for the extremely unfavorable exchange rate fluctuations which resulted in an overall negative impact of €32.7m ($44.2m). Despite this Teleperformance achieved 3% y/y revenue growth in the quarter to €610m. Growth in the English-speaking market & Asia-Pacific SBU w[...]
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Mouchel Bounces Back in FY 2013
Dec 12, 2013, by NelsonHall AnalystMouchel has announced results for FY 2013, for the period ending 30 September 2013: Revenue was £555.3m EBIT was £28.1m, a margin of 5.1%. Comparisons with the prior year were not provided as the company in its present from came into being in August 2012. For the new company, for the five weeks to the end of 2012 FY, revenue was[...]
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Maximus, Doing Well and Eyeing Growth in U.K.
Nov 17, 2013, by NelsonHall AnalystMaximus has announced results for FY 2013, the year ending September 30, 2013. Revenue was $1,331m, up 26.8% as stated. Operating income was $188.2m, a margin of 14.1%, up 200 bps. FY 2013 revenue (and growth) by segment was: Health Services $862.9m (+28.6%) Human Services $468.4m (+23.6%). FY 2013 operating income and margin by segment was: Health Se[...]
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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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Angled At Analytics: The New EXL Makes Three Acquisitions In Seven Months And Insures a Health-y Start to 2015
Feb 27, 2015, by NelsonHall AnalystWhat a difference a year makes for EXL. It entered 2014 under the cloud of the loss of two contracts, including the unfortunate termination Travelers (which had accounted for nearly 10% of total revenues in 2013) because of inappropriate behavior by an employee. So it started the year facing significant revenue headwinds. A year later, EXL delivered full year 2014 revenues that beat revise[...]
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Genpact Q2 Results: The Transformation Remains a 'Wait & See' Game
Aug 01, 2014, by NelsonHall AnalystGenpact’s Q2 2014 results show similar mid-single digit (5%) top line growth to Q1 (4.9%), in line with prior guidance for the year of 4%-6% (this has now been adjusted to 5-7% to include a revenue contribution from its Q2 acquisition of Pharmalink). But it is substantially below the 12.1% growth seen in 2013. EBIT margin was 13.0%, down both sequentially (-7 bps) and y/y (-157 bps[...]
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Genpact: "The Art of the Possible"
May 23, 2014, by NelsonHall AnalystNelsonHall recently attended a Genpact analyst forum in Boston, where we were keen to learn more about the changes in its strategy that Genpact announced in February to effect a major transformation of its business (see our blog “Genpact: Slow Progress on Transformation Strategy in 2013 - Unveils Next Phase of Plan: http://research.nelson-hall.com/blog/?avpage-views=blog&type=post&po[...]
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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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Serco Partners With Bromley Healthcare to Improve and Grow Healthcare Business
Jan 20, 2014, by NelsonHall AnalystSerco has announced a partnership agreement with Bromley Healthcare, an employee-owned social enterprise, to work together in the community healthcare market. Initially the partners will work together to improve quality of community healthcare in Suffolk, with Bromley Healthcare acting in an advisory capacity and supporting clinical leaders. In the long term, they intend to join forces to bid f[...]
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Capita Clears the Way to Win Back Congestion Contract
Jan 14, 2014, by NelsonHall AnalystCapita has been awarded a £145m contract by Transport for London (TfL) to operate the congestion charging, low emission zone and traffic enforcement notice processing schemes. The contract is for five years starting from November 2015 with an option to extend for a further five years. Services to be provided include: Operating the traffic congestion scheme Operating the low[...]
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IBM Makes the Leap to Next Generation Cloud with SoftLayer
Sep 18, 2013, by NelsonHall AnalystNelsonHall recently attended IBM SmartCloud Analyst Day in London during which IBM highlighted the most recent developments in its cloud strategy against the backdrop of its acquisition of SoftLayer, a significant player in the cloud space. SoftLayer offerings include on-demand dedicated servers and virtual cloud servers, offered in public and private models. Since the acquisition com[...]
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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[...]