Modis Comes Into the Light with Akka

/ August 15, 2021

Modis came into the light two weeks ago when Adecco announced the acquisition of Akka. Modis is a decently large IT services firm with 2020 revenues of EUR 2,179m. It is little-profitable with an adjusted EBITA margin of 5.7% (2019: 6.3%). Like everyone, the company faced headwinds in 2020, with revenues down 9% in 2020 (2019: -3%).

Europe Has Entered its Second Lockdown. A Look at Financial Implications

/ November 1, 2020

Europe has now entered its second lockdown. The lockdowns have different restrictions levels and different lengths. The UK and France are running for the full month of November. Officials in the two countries have, however, warned the lockdown might last longer, until Christmas at least.

Unofficial: Renault Selects its Four ER&D Preferred Vendors

/ July 24, 2020

According to unofficial sources, Renault has now finalized its list of preferred ER&D service vendors, reducing it from nine vendors to four. The four winners are Akka, Bertrandt, Expleo, and Segula. They will now grab 80% of Renault’s ER&D spending and double their market shares.

Akka Launches a Mandatory Offer for Data Respons

/ March 10, 2020

Akka has launched a mandatory offer for Data Respons (DR) that will provide shareholders the opportunity to sell their DR shares. The company has been active on the stock markets since the end of its tender offer on February 13, raising its stake from 72.9% to 78.1%. Akka is hoping to reach 95% of shares and launch a squeeze-out offer later one.

Akka Secures 64% of Data Respons’ Stock

/ February 12, 2020

After its unexpected revenue growth slowdown in Q4, Akka suffered from a disappointing result: it secured only 64% of the shares of Data Repons. Akka has received regulatory clearance from the German cartel office authority, so now has control over Data Response.

Akka Raises EUR 175m in Convertible Bonds. But Why?

/ November 28, 2019

We don’t usually comment on the financial performance of ER&D service vendors beyond their financials. But this time, this is a little bit different: Akka Technologies raised yesterday EUR 175m in convertible bonds, a significant amount for Akka, which has a market cap of EUR ~EUR 1.2bn.

2018: A Year in Review

/ January 3, 2019

2018 was an eventful year: the top ER&D vendors accelerated their M&A activities. Alten continued to deploy its business model. HCL Tech’s ERS unit had a superb year