Temenos on track for double-digit FY24 growth
Leading banking software vendor, Temenos, has announced its latest quarterly results, highlighting continued growth despite a challenging first quarter. For the nine months to 30 September 2024, Annual Recurring Revenue (ARR) rose by 12% to $2.23bn whilst total revenue was up by 4% at $725.2m. With Q3 sales coming in just below target, Temenos has […]
Sophos buys XDR supplier Secureworks
UK HQ’ed cybersecurity supplier Sophos has announced plan to buy fellow competitor Secureworks in an $859m deal that will see another major security supplier fall under the purview of PE firm Thoma Bravo. Secureworks was initially bought by Dell back in 2011, who then tried to spin off the business in an IPO 5 years […]
Halpin swaps CloudCoCo for SCC
Mark Halpin, the founder and former CEO of CloudCoCo, is set to become the new Sales and Marketing Director of SCC Digital, the managed services arm of SCC. Cloud CoCo announced last week that it had agreed to sell its IT managed services business to Gateshead-headquartered Aspire Technology Solutions, for up to c.£9.2m. Proceeds from the […]
Accenture & Reality Defender: Deepfake detection
At an Evening with TechMarketView in September (see here), John Harris, Managing Partner of our new partner, Executive Change*, joined me for a fireside chat. One of my questions to him was how he saw the adoption of GenAI developing over time. That his initial reaction was to highlight the increased focus on the dark […]
Coforge delivers an “exceptional” quarter
Fuelled by the completion of the $220m Cigniti Technologies acquisition in July, Coforge saw its Q225 revenue surge by 33% yoy at constant currency to $369.4m. Underlying expansion at the mid-tier offshore service provider also continued to both accelerate and outpace that of its larger rivals. Company turnover for the three months ended 30th September […]
Vortexa secures $25m strategic debt financing
London-based energy and freight analytics startup Vortexa has raised $25m in strategic debt financing from CIBC Innovation Banking. This follows $34m of Series C funding the company raised in 2023/24 (across two rounds). TechMarketView covered Vortexa’s Series B fundraise back in 2021 (see Vortexa secures £14m with dashes of analytics, energy and FinTech). Vortexa combines […]
Stripe to pay $1.1bn for stablecoin platform Bridge
Stripe, the Irish/US fintech unicorn founded by the Collinson brothers from Limerick, has agreed to acquire US stablecoin platform, Bridge, in a deal that is worth around $1.1bn. Taking to X (formerly Twitter) to respond to rumours about a possible deal, Stripe CEO, Patrick Collinson revealed that the two parties had indeed agreed to a […]
Mastek and Innovaccer announce healthcare partnership
Mastek has announced a strategic partnership with Innovaccer, which will enhance the company’s digital engineering and cloud transformation expertise with healthcare-focused AI, data analytics and customer experience offerings. Innovaccer started as a data analytics research collaboration between Harvard University and Wharton School in 2012 and formally launched in 2014. In 2016, the company pivoted to […]
Vindicated PCI-PAL delivers another year of strong growth
AIM-listed payment security and customer engagement specialist, PCI-Pal, has posted its latest annual results highlighting strong revenue growth and improved profitability. Revenue for the twelve months to 30 June 2024 was £17.96m, up 20% and successfully building on the 25% revenue growth achieved last fiscal. Meanwhile, the vendor recorded a full-year loss of £1.71m, a […]
Google signs deal with Honeywell for autonomous operations
Google Cloud has signed a deal with industrial manufacturer Honeywell to connect its Vertex AI platform with the company’s vast amounts of industrial data, creating more streamlined autonomous operations. For years, Honeywell has been collecting industrial data through Honeywell Forge, a digital platform that draws on designs, manuals, and real-world performance of Honeywell’s global install base […]