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.
Luxoft’s Automotive and Transportation unit had a stellar performance in Q3 FY19, with revenue growth of +56%.
Assystem Technologies and all its affiliates, including SQS, have rebranded as Expleo. The term Expleo refers
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.
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The revenue growth of HCL Tech’s ERS unit continued to be high in Q3 FY19 to 17.4% yoy at CC. Revenues well above the half-billion threshold, to USD 562m, comforting HCL Tech as the third largest ER&D service vendor globally.
British ER&D service vendor Ricardo provided a “trading update” that suggested a soft performance in H1FY19, the period ending December 31, 2018.
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.
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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.
Cyient’s revenues were up 8.6% yoy and up 10.7% yoy at CC in Q3 FY19 to $165m.
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.
It is striking to see how few onshore ER&D service vendors have built a significant Indian or nearshore presence. Onshore vendors do acknowledge that the Indian ER&D service vendors grow faster than they do but argue that most of the Indian vendors service U.S. clients or industries (mostly, ISVs, technology vendors and telecom equipment manufacturers) they do not quite address.
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
A visual analysis of the acquisition by ÅF of Pöyry
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ÅF and Pöyry have provided some light on the combined ÅF Pöyry. ÅF Pöyry will have revenues
ÅF is to acquire Finland-headquartered Poyry, for EUR 611m in cash. The company is offering a
The USD 1.8bn HCL Tech deal is undoubtedly impressive and does raise many questions about the
We learned a bit more about the rationale of this USD 1.8bn deal under which HCL
HCL Tech provided additional light on its recently-announced acquisition of seven IBM software product for $1.8bn.
HCL Tech will acquire eight software products from IBM for $1.8bn. The company is taking over
In an interview published on LinkedIn, Warren Harris, the CEO of Tata Technologies (TTL) confirmed that
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