We just learned that Expleo has a new CEO, Rajesh Krishnamurthy. On paper, Mr. Krishnamurthy, has everything right for Expleo. He is a French citizen of Indian origin. He has held senior roles at Infosys, including one as head of the Energy, Utilities, and Telco division, a major responsibility as Infosys is organized by vertical. He also led Infosys Global Consulting.
Cyient surprised, negatively, the markets by announcing a decline of 9.7% in its Q4 FY20 revenues (to USD 149m) and an adjusted EBIT margin down 440 bps (to 8.4%).
Dassault Systems lowered it Q1 2020: the company is now expecting revenue growth in the range of 14%-17%, down from a 20-23% guidance (that includes the acquisition of Medidata). The company has suffered from weaker than expected new license and services revenues. Meanwhile, revenues of Medidata were on a “momentum and license renewals were up too.
Currently, Covid-19 has only affected China significantly, although having spread in South Korea, Japan, and Northern Italy.
Several ER&D vendors have been impacted so far: Ricardo has warned that the situation in the Chinese automotive market would have a “material” effect on its profit.
We are expecting a slowdown in ER&D spending in 2020. Learn more here.
Belcan strengthened its software engineering capabilities with the acquisition of Base2 Solutions, a firm headquartered in Bellevue, WA and with an office in California. Base2 has a similar client base to Belcan, with major clients including Boeing, Thales, and L3Harris in aerospace and defense.
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We missed an important acquisition that QuEST Global announced at the end of June. QuEST has acquired Dakota Moon Enterprises (DME).
We are now entering the season for Q1 earnings, and as always we will look into changes in major trends. The state of the automotive industry will be an area we will be closely monitoring.
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.
The website of Insider Media Limited reported that Applied Technology Consultants (ATC), the primary subsidiary of
QuEST Global Services indicated in an interview with the Indian newspaper, Business Standard, that it is
AE Industrial Partners, the PE firm that owns both Belcan and CDI Corp, has raised $1.36bn
Akka Technologies intends to acquire Irving, TX-based PDS Tech, in line with its Clear 2022 ambition
Akka presented its CLEAR 2022 strategic plan that runs over the 2018-2022 period. CLEAR 2022 is
Tata Motors has announced that PE Warburg Pincus has cancelled its plans to acquires a 43%