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Jacobs Engineering, a US infrastructure giant, is to acquire the nuclear engineering business of (another infrastructure giant in the UK) Wood. Jacobs is paying an enterprise value of USD 300m.
Akka surprised investors with a CC/CS revenue growth slowdown in Q2 2019: revenues were up 5.1% yoy at CC (vs. 6.6% in Q1). Utilization declined by 50 bps yoy, and attrition (excluding PDS Tech) was up by a massive 530 bps, to 23.3%.
AE Industrial Partners continues to scale up its investment in its various engineering and IT services units, which include Belcan, CDI, and Gryphon Technologies
We missed an important acquisition that QuEST Global announced at the end of June. QuEST has acquired Dakota Moon Enterprises (DME).
HCL Tech has closed the acquisition of several IBM products. The company has now ownership of AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica. We assume the price of the transaction has not changed and still is USD 1.8bn.
Cognizant has been making more headlines in ER&D services, recently. Last month, we had mentioned its software product engineering services (PES) contract with PLM vendor AVEVA. This week, we are looking into Cognizant’s planned acquisition of Zenith Technologies. Zenith
We usually do not comment on the M&A activities of major PLM ISVs. However, Dassault Systèmes’ acquisition of Medidata, an NYC-headquartered ISV specialized in software to manage clinical trials and commercial launches, is worth a thought or two.
We had to look back into our database to identify when Wipro had, for the last time, acquired an ER&D service vendor. In 2005-2006, Wipro acquired three ER&D services (Saraware, NewLogic, and Quantec) around semi-conductors and PLM services. And then, nothing for the following thirteen years.
AE Industrial Partners, which also owns Belcan, continues to adjust the business portfolio of CDI Corp. CDI sold its Management Recruiters International (MRI) business.
Altran achieved in Q1 2019 a CC/CS growth yoy of 8.1% despite the impact of the decline in revenues of Aricent (-2% at CC/CS) and its cyber-attack (impacting the revenue growth of Altran by 200 bps).
Akka performed well in full-year 2018: revenues were up 9.5% at CC/CS to EUR 1,505m. The company demonstrates, quarter after quarter, its ability to grow quickly in geographies, large or small
Private equity (PE) firm AE Industrial Partners (AE) continues to adjust the scope of its portfolio companies and transferred Schafer from Belcan to Gryphon Technologies.
Belcan made its second acquisition in the UK, since it was taken over by PE AE Industrial Partners. The acquired firm is Sitec, through its two units Sitec Design and Sitec Recruitment.
As expected, Volkswagen and Ford have provided some detail on their long-awaited partnership. Ford will design and build mid-sized pickups for Volkswagen, with the first vehicles ready in 2022. It will also build large commercial vans, while Volkswagen will develop a city van. In addition, the two firms intend to work together on mobility services, EVs and autonomous vehicles.
We learned a bit more about the rationale of this USD 1.8bn deal under which HCL Tech is acquiring seven software products from IBM. A diversified scope with mature and high-growth potential products HCL is acquiring products with high