L&T to launch a hostile take-over over Mindtree

/ March 22, 2019

If you follow what’s going in India, you are probably well aware that the manufacturing conglomerate Larsen & Toubro (L&T) has acquired 20.3% of Mindtree, from a passive promoter (the Indian term for key shareholders, usually founders).

Assystem guides for 10% revenue growth in 2019

/ March 22, 2019

Assystem’s 2018 earnings were in line with its guidance. The company already had communicated its revenue performance, with a disappointing H1 (+0.8% at CC/CS) and a very good H2 (+13.2%).

Is ÅF Pöyry an ER&D service vendor?

/ March 13, 2019

Several readers reacted to the birth on February 22, 2019, of ÅF Pöyry. They argue that ÅF Pöyry has become a building engineering-centric firm and now shares more with the likes of Sweco, Arcadis, or SNC Lavallin in Canada, than with Altran, or HCL Tech.

Ricardo renews and expands its engine manufacturing contract with McLaren

/ February 21, 2019

British ER&D service vendor Ricardo has renewed and expanded its engine manufacturing contract with McLaren. The company will manufacture engines for McLaren’s Track 25 plan. McLaren is expanding its car portfolio and as part of Track 25, will design 18 new models or derivatives of existing models.

Pöyry completes its recovery in 2018

/ February 16, 2019

We looked at the 2018 results of Pöyry, its last financials before its acquisition by ÅF. The results confirmed that Pöyry has succeeded in its recovery: its 2018 revenues were up 10.9% in 2018, to EUR 580m, and its adjusted EBIT margin was 7.5%, up 250 bps.

A slight slowdown for SII in Q3 FY19

/ February 13, 2019

SII’s growth in Q3 FY19 slowed down a bit: revenues were up 11.8% yoy and up 12.3% yoy at CC/CS (H1: +14.5% at CC/CS). The relative slowdown came from international operations (+16.6% at CC/CS in Q3, vs. H1: +21.2%), while France was stable at +9.0% in Q3 (H1: 9.1%).

Belcan continues to acquire in the UK

/ February 4, 2019

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.

Cyient takes full control of Rangsons Electronics

/ January 25, 2019

Cyient has acquired the remaining 26% in Rangsons Electronics it did know own, for ~USD 60m. The name Rangsons Electronics may not ring a bell, as Cyient now reports the business under the name DLM.

KPIT reborn!

/ January 19, 2019

KPIT quietly finalized its merger with the privately-owned Birlasoft. The new company is now called Birlasoft and will be an IT service pure-play. Birlasoft has carved out its automotive engineering business that will be called KPIT.