mployees from the other five divisions. It has approximately a revenue of SEK 1bn (USD 110m) and 800 employees. AFRY is gradually ramping up its digital investments and expects to spend SEK 100m in 2022, up from SEK 50m in Q1-Q3 2021.
Accenture made a big move with the acquisition of Umlaut, an ER&D vendor headquartered in Germany. The transaction comes as a surprise: umlaut brings EUR 350m in revenues. It is the first sizable acquisition that Accenture made for Industry X. Up to now
AFRY recently unveiled its strategy: the company plans to become more integrated and positioned around digital technologies and sustainability. AFRY has suffered in the past few years of a lack of organic growth. In 2019, right before the pandemic, the company grew organically by 1.9%, underperforming most competitors. Then came 2020, and AFRY handled the crisis well, with an organic decline of only 6.4%
Jacobs surprised us with its intention to acquire a 65% stake in PA Consulting for USD 1.8bn (enterprise value of the stake). For those of us that have been in the industry, we know that consulting acquisitions can be risky. Think of EDS and AT Kearney, Capgemini and Ernst & Young Consulting, or IBM and PwC Consulting.
In a November blog, we had mentioned that Akka had issued €175m in convertible bonds. Akka
Last week, KPIT Technologies, returned to India’s BSE and NSE. The company now has a market cap of approximately USD 410m with its share was introduced at a price of INR 99 and traded in the past few days between INR 103 and INR 115. KPIT has succeeded in its IPO and is now an ER&D service pure-play having sold its IT services business to Birlasoft.
QuESTGlobal Services has big ambitions in Germany, where it intends to double its headcount in the
QuEST Global Services is accelerating on its M&A strategy and has made its second acquisition of
Akka presented its CLEAR 2022 strategic plan that runs over the 2018-2022 period. CLEAR 2022 is