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Investment analytics provider Bridgewise raises $21m
Tel-Aviv and London-based Bridgewise, a platform provider of AI-based analysis for global securities, has raised $21m in a funding round led by SIX Group with participation from Group11 and L4 Venture...
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KPMG lands £8.5m NHS contract
NHS England has hired KMPG to help drive the rollout of the Federated Data Platform (FDP). The call-off agreement is worth £8.5m over the next 24 months and it will see the Big Four player work with...
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Wise delivers strong growth as customer volumes swell
UK fintech Wise plc, (formerly Transferwise) has released a trading update highlighting the company’s impressive, sustained growth in revenue during its most recent fiscal. For the twelve months ended...
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Phlo raises £9m to extend digital pharmacy services
Phlo has raised £9m in a funding round led by Par Equity with participation from Thairm Bio and Scottish Enterprise. It follows a £10m Series A round in February 2023, which was led by Thairm Bio with...
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Process management demand drives 15% growth for Crimson Tide
AIM listed process management app supplier Crimson Tide reported strong double digit revenue growth for FY23, including important wins in utilities and healthcare.UK based Crimson Tide is the provider...
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Version 1 acquires Farsight Consulting
Version 1 has announced it has acquired Farsight Consulting, helping enhance its digital transformation and design expertise across the public sector. The London-based consultancy company was founded...
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Cash injection for financial wellbeing specialist Wagestream
UK based, Wagestream, has successfully raised £17.5m in new funding for its financial benefits proposition. The cash injection was provided by a variety of investors including British Patient Capital,...
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Finastra partners with TradeSun to bring ESG scoring to trade finance
Banking technology specialist Finastra has partnered with TradeSun to integrate the latter’s CoriolisESG AI-powered ESG (environmental, social and governance) scoring capabilities into its Trade...
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FYLD raises £12m for AI powered field work platform
FYLD, a London based supplier of an AI-powered field work execution platform has raised £12m in Series A funding, led by Ontario Teachers’ Pension Plan.FYLD was co-founded in 2020 by CEO Shelley...
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LabHost disrupted through law enforcement and tech company collaboration
Law enforcement organisations and technology companies have joined forces to disrupt the LabHost Phishing-as-a-service (PhaaS) operation. The site, which the Metropolitan Police Service (MPS) says was...
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A flat start for PA’s new CEO
After five consecutive years of double-digit top line growth, PA Consulting’s forward progress all but ground to a halt in FY23. Firm-wide fees for the twelve months ended 31st December increased by...
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Andreessen Horowitz raises $7.2bn for tech start-up investment
Earlier this week it was announced that Silicon Valley-based venture capitalist firm Andreessen Horowitz had raised a whopping $7.2bn to invest in a range of start-ups across areas including gaming,...
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Infosys finishes FY24 on a flat note
A flat growth final quarter left Infosys slightly shy of its most recent bottom end revenue guidance for FY24. The 2.2% sequential constant currency decline constrained company turnover for the three...
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Meta releases latest AI model Llama 3
Yesterday Meta announced the launch of Llama 3, the latest version of its open-source AI large language model.The announcement debuts two new pretrained and fine-tuned language models with 8 billion...
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AI imagery fires up an emotive week of debate
This week threw up a couple of emotive examples of why humans – for now at least – prefer honest use of AI imagery in the media.Firstly, much news coverage has been given to The Cass Review, an...
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NCSC awards PDNS contract to Cloudflare and Accenture
Following a competitive tender process, the National Cyber Security Centre (NCSC) has announced a change of partnership in the delivery of its Protective Domain Name System (PDNS) service.A three-year...
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Carpetright HQ hit by cyber attack
It was reported on Friday that retail flooring chain Carpetright was hit with a cyber-attack last week that saw hundreds of customer orders disrupted.Hackers targeted the company HQ in Purfleet, Essex,...
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Heavy lifting ahead for new Wipro CEO
Wipro’s year-long decline continued though the final quarter of FY24. Company revenue for the three months ended 31st March of $2.66bn was down sequentially and yoy by 0.3% and 6.6% respectively at...
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Infosys acquires Engineering R&D specialist
Infosys has entered into a definitive agreement to purchase German-based Engineering R&D services specialist, in-tech GmbH. The all cash€450m acquisition aims to boost the offshore major’s...
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Made Tech wins big with long-term client, DHLUC
In February, as part of its H124 results announcement – for the six months to end November (see Made Tech: Signs of growing pains? | TechMarketView) - Made Tech said that 90% of its FY25 revenues were...
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BT appoints McKinsey's Meakin to the Board
According to a report in the Financial Times (FT), BT Group’s new CEO, Allison Kirkby, has installed Tom Meakin, a Senior Partner at McKinsey to the board. Meakin, who is the consulting firm’s...
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Cognizant and Microsoft buddy up on Gen AI
Cognizant and Microsoft have announced an expanded partnership focused on the software giant’s generative AI and Copilots. The companies will collaborate to deliver industry-specific solutions using...
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Crown Hosting banks BoE contract
Crown Hosting Data Centres (CHDC) has won a significant contract with the Bank of England to provide Information Storage Co-location Services. The contract started on 1st March this year and will run...
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Eleco’s SaaS transition progresses
Construction software specialist, Eleco made further strides along its strategic shift to a SaaS-based business model during FY23. Total recurring revenue ncreased by 22% yoy to £20.7m to account for...
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HealthKey secures seed funding
Healthtech startup HealthKey has secured £1.13m in a seed round led by Aviva Ventures, with participation from Ascension, Oxford Capital, and Cur8 Capital.The company was founded by David Joerring and...
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Revenue and losses increase at Alphawave Semi
London-listed, Canadian infrastructure connectivity specialist, Alphawave IP Group PLC (trading as Alphawave Semi) saw revenue for FY 2023 significantly increase year-on-year to $322m (FY 2022 $185m),...
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£8m funding to boost AI in maritime industry
The UK government has launched an £8m Smart Shipping Acceleration Fund to drive maritime innovation and harness the benefits of AI to boost productivity.The Smart Shipping Acceleration Fund will...
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1Spatial working to deliver on SaaS potential
Full year 2024 results out this morning from Cambridge-headquartered, AIM-listed geospatial software provider and data integrator 1Spatial, have the business heading in a SaaS-based direction,...
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ActiveOps updates on FY progress
AIM-listed ActiveOps, the ‘decision intelligence provider’ continues to execute on its growth strategy, updating the market this morning on an expected 5% uplift in Group Revenue, an 11% increase in...
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Andreades signs off as Temenos delivers Q1 growth
Leading banking software provider, Temenos, has published its results for the first three months of its new fiscal highlighting improved profitability and modest revenue growth. The financials for the...
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Government responds to Policing Productivity Review recommendations
The Home Office has published its response to the recommendations of the Policing Productivity Review (see Policing Productivity Review calls for greater investment in innovative technology),...
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SAP cloud up 25% in Q1 24 but restructuring hammers profits
ERP specialist SAP has announced results for Q1 2024 (ended 31 March 2024). Total revenue was up 9% year-over-year in constant currency to €8bn, buoyed by double-digit growth in its cloud offerings...
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Tracsis still confident of an H2 uptick
The H1 results for Tracsis, the Leeds-HQ’d provider of software and services to the rail and transport industries, landed in line with the estimates provided in company’s February trading update (see...
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Unicorn Perplexity AI targets global expansion
California-based start-up Perplexity is a company you are likely to hear a great deal more about in the coming months.Despite being very much smaller and less capitalised than ChatGPT-maker OpenAI, not...
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Atos Q1: Prolonged uncertainty hitting client confidence
Atos’ Q1 results, for the period ending 31st March 2024, illustrate the effects of Atos’ precarious financial position on the confidence of clients and prospects.The trouble is that it’s a viscous...
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Camion raise EUR2.7m to accelerate the roll-out of EV charging points
UK-based electric vehicle (EV) charging analytics platform supplier Camion has raised EUR2.7m in pre-seed funding, led by EQT Ventures with participation from First Look Capital and RitMir...
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Checkit continues to progress
Cambridge-headquartered Checkit, is a software provider that helps organisations manage operations in a hybrid working environment. Full year results out this morning outline a business on a path to...
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IBM shares dip on Q1 results and HashiCorp acquisition
IBM announced its Q1 results last night, which saw the stock tank by up to 9% in after-hours trading.The news wasn’t all bad, with earnings per share (EPS) hitting $1.68, ahead of the expected $1.60....
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KnowBe4 acquires email security supplier Egress
US based security awareness training and simulated phishing platform KnowBe4, has announced it has acquired UK HQ’ed email security supplier Egress. Further terms of the transaction were not...
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Lombard's latest venture Peppercorn AI attracts £3.25m
Cardiff-based insurtech, Peppercorn AI, has successfully raised £3.25m in new funding. The cash injection was provided by a variety of investors including, EHE Capital and Angels Invest Wales. The...
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Meta shares dive on accelerated AI spending
Meta shares are down c.13% in afterhours trading after the company reported higher than expected AI spending, despite a strong Q1 performance.The business reported revenue grew 27% to $36.46bn in Q1...
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Pinewood Technologies reports maiden results
Pinewood Technologies Group plc (formerly Pendragon plc) has published its maiden results following its transition into a pure-play SaaS business.In September 2023, Pendragon—one of the UK’s largest...
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Slowing LTIMindtree continues to outpace rivals
Despite sequential top line growth turning negative in the final quarter, LTIMindtree’s FY24 revenue increased by 4.2% yoy at constant currency to c.$4.3bn. The company’s pace of expansion for the...
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View from the Chief Analyst: CMA & the perceived power of GAMMAN
On 11th April, the Competition and Markets Authority (CMA) published a paper updating on its work reviewing the impact of AI Foundational Models on competition and consumer protection.It has only been...
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A solid start to FY24 for SS&C
US headquartered, SS&C Technologies largely maintained the acceleration in growth which built during the latter part of FY23 through the first quarter of the new financial year. The global provider...
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AI drives Q3 Cloud growth for Microsoft
As expected, AI continues to be a major factor driving revenue growth for Microsoft, with total Q3 revenue up 17% to $61.9bn. Investors responded positively with shares up c.4% in pre-market...
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ServiceNow Q1 exceeds guidance, in a quarter replete with AI news
ServiceNow has announced its results for Q1 2024 (ended 31 March 2024), again exceeding guidance – see last quarter: ServiceNow exceeds Q4 guidance, raises outlook– by posting total revenue of $2.6bn...
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Sopra Steria UK up 7.4% in Q1
Sopra Steria is one of several companies publishing first quarter results today with Group revenue coming in at €1,587m, up 13.8% on the same period a year ago. Most of this is inorganic, factoring in...
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Tech Mahindra’s pace of decline accelerates
Tech Mahindra capped off FY24 with another largely lacklustre quarter. A 6.4% constant currency yoy decrease in revenue for the three months ended 31st March (Q3: -5.4%) meant that turnover for the...
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WNS shares fall on Q4 EPS miss
Business process specialist WNS grew revenue in Q4 by 6.9% YoY to $336.8m on the back of continuing strong sales activity. This helped WNS end FY 2023 with overall Group revenue growth of 8.1% to...
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