Nov 27, 2023, by Dominique Raviart
NelsonHall recently wrote a PoV on the current disconnect between GDP growth and IT services spending[1]. In October 2023, the IMF refreshed its GDP growth predictions; these include better 2023 GDP growth in the U.S. (+2.1%) and Japan (+20%) than the U.K. (+0.5%) and the Eurozone (+0.7%). Unusually, the IMF's predictions are not in line with our observations of IT services spend[...]
Jan 10, 2022, by Dominique Raviart
Dominique Raviart gives his reaction to today's announcement by Atos, who issued its second profit warning in seven months.[...]
Nov 03, 2016, by Dominique Raviart
Dell Services is a strategic acquisition, though an expensive one
Yesterday, NTT DATA Inc. closed its acquisition of Dell Services, seven months after its initial announcement.
The acquired entity, now called NTT DATA Services on an interim basis, has some obvious benefits. For example, it:
More than doubles NTT DATA Inc.’s revenues from $1.7bn to over $4bn
Significantly s[...]
Jul 08, 2016, by Dominique Raviart
Four years ago, at the time of the London 2012 Olympics and Paralympic Games, NelsonHall reported on the work Atos does for the International Olympic Committee (IOC) though its Major Events unit. See our previous commentary here. This week we visited its center in Barcelona to get an update on the work it is doing for the Rio Games starting next month,
The Olympic Games remain a fantastic o[...]
May 23, 2014, by Dominique Raviart
Capgemini held its 2014 investor and analyst day this week. For the first time since the beginning of the 2008-2013 crisis, the company has talked about organic growth, a significant development on its focus in recent years on margin improvement. Capgemini’s guidance for 2014 is organic revenue growth of 2% to 4%. The company has now shared a mid-term target of 5% to 7% organic growth. This [...]
Apr 08, 2014, by Dominique Raviart
Sopra Group is to acquire Steria for an all-share transaction valuing Steria at €722m. The acquisition is presented as a merger of equals.
Sopra's rationale for the acquisition includes:
Expanding its geographical presence from France to the U.K., Germany and Norway
Gaining a new service portfolio in BPO services and IM.
Sopra is to launch a public exchange [...]
Apr 04, 2014, by Dominique Raviart
NelsonHall recently attended an Atos analyst summit which provided a follow-up to the 2014-6 three-year plan first outlined last November (see our blog “Atos Unveils 2016 Financial Objectives”). As a reminder, the financial targets for IT services are:
2014-2016 CAGR of 5% with half of this growth to come from acquisition
A 100 to 200 bps improvement in adjusted operating margi[...]