Category Archives: Business News

Microlise wins place on Sunday Times International Track 2017 league table

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Microlise has entered the Sunday Times HSBC International Track 200 league table in 47th position, confirming it as among the companies experiencing the fastest growth internationally in the UK.

Over the past two years Microlise has experienced 73% annual international sales growth, which now represent more than 10% of the companies total annual sales.

The eighth annual Sunday Times HSBC International Track 200 league table ranked Britain’s mid-market private companies with the fastest-growing international sales.

Alongside Microlise, there are 20 companies headquartered in the Midlands (compared to 17 last year) including 11 new entrants to the league table. Their international sales have grown by an average of 47% a year over the last two years to a total of £211m, and together they now employ more than 6,200 people.

Microlise appears with businesses from around Britain, including jewellery designer Monica Vinader, cycling gear manufacturer Rapha, and sandwich shop chain Pret. Past stars include drinks maker Fever-Tree and travel search engine Skyscanner.

The league table reflects the importance of Europe to Britain’s mid-market exporters ahead of the Brexit negotiations. Almost 85% of the companies (167) sell to the continent, the most popular market, followed by North America (112) and Asia (75).

Amanda Murphy, UK head of commercial banking at HSBC, commented: “This year’s Sunday Times HSBC International Track 200 is testament to the exciting opportunities available to ambitious UK businesses with appetite to grow their goods and services abroad. The 20 companies in the Midlands are putting the region firmly on the map as a thriving business hub.”

In April, Microlise was also listed in the The Sunday Times BDO Profit Track 100 league table in 62nd place, ranking it as one of Britain’s private companies with the fastest-growing profits over three years.

About Microlise

Microlise telematics, proof of delivery and journey management solutions help its customers reduce costs and the environmental impact of their fleet operations. This is achieved by maximising vehicle utilisation, increasing operational efficiency and improving economy and safety; whilst helping to deliver the very best customer experience by providing real-time visibility of the fleet against schedule.

A privately owned business based in Nottingham in the UK, Microlise invests significantly in research and development annually to ensure its solutions continue to be underpinned by market-leading technology. Microlise helps its customers to save more than £175m each year in fuel costs and reduce CO2 emissions by hundreds of thousands of metric tonnes.

Source: Microlise

 

Verizon to acquire Fleetmatics

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Fleetmatics Logo.  (PRNewsFoto/Fleetmatics Group PLC)

Transaction to accelerate Verizon’s position as a leading provider of fleet and mobile workforce management solutions

 

NEW YORK and DUBLIN – August 1, 2016 – Verizon Communications Inc. (NYSE, Nasdaq: VZ) and Fleetmatics Group PLC (NYSE: FLTX) today announced they have entered into a definitive agreement under which Verizon will acquire Fleetmatics, a leading global provider of fleet and mobile workforce management solutions, for $60.00 per share in cash – representing a value of approximately $2.4 billion.

“Fleetmatics is a market leader in North America — and increasingly internationally — and they’ve developed a wide-range of compelling SaaS-based products and solutions for small- and medium-sized businesses,” said Andrés Irlando, CEO of Verizon Telematics.

“The powerful combination of products and services, software platforms, robust customer bases, domain expertise and experience, and talented and passionate teams among Fleetmatics, the recently-acquired Telogis, and Verizon Telematics will position the combined companies to become a leading provider of fleet and mobile workforce management solutions globally,” Irlando added.

“Verizon and Fleetmatics share a vision that the SaaS-based fleet management solution market is extraordinarily large, lightly penetrated, global and fragmented which can best be attacked together with a world class product offering and the largest distribution channel in the industry.”

Jim Travers, Chairman and CEO of Fleetmatics.

“Fleetmatics brings over 37,000 customers, approximately 737,000 subscribers, a broad portfolio of industry leading products, and a team of 1,200 professionals focused on solving the critical challenges of businesses that deploy mobile workforces. We are excited to partner with Verizon in fulfilling the mission of becoming the largest mobile workforce management company in the world,” Travers added.

In June, Verizon Telematics also announced the acquisition of Telogis, Inc., a global, cloud-based mobile enterprise management software company based in Aliso Viejo, Calif. That transaction closed on July 29.

With approximately 1,200 employees, Fleetmatics is headquartered in Dublin, Ireland, with North American headquarters in Waltham, Mass. The company’s Web-based solutions provide fleet operators with visibility into vehicle location, fuel usage, speed and mileage, and other insights into their mobile workforce, helping them to reduce operating costs, as well as increase revenue.

Verizon Telematics, a subsidiary of Verizon Communications, operates in more than 40 markets worldwide and offers comprehensive wireless, software and hardware solutions to consumers, enterprises, automakers and dealers to power connected-vehicle products around the world.

The acquisition is subject to customary regulatory approvals and closing conditions, including the approval of Fleetmatics’ shareholders and the sanction of the Irish scheme of arrangement by which Verizon will acquire Fleetmatics by the Irish High Court, and is expected to close in the fourth quarter of 2016.

Source: Verizon

Verizon Bolsters Connected Car Portfolio with Telogis Buy

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Verizon have announced it is set to acquire telematics company Telogis in a move meant to bolster its connected car business.

According to Verizon, Telogis will bring a “world-class software program and new distribution relationships” to the carrier’s Telematics subsidiary. Verizon said the acquisition would help boost its suite of connected vehicle solutions and help drive revenue growth for the company.

Verizon’s Telematics subsidiary currently offers a number of solutions for both consumers and enterprise, including Hum, a self-installed module that provides drivers with diagnostic information, roadside assistance and emergency assistance on demand.

Founded in 2001, Telogis brings with it a platform for connected intelligence that integrates location technology with information and services. The company has offices in California, Europe, Australia and Latin America, with development centers in Texas, Toronto and New Zealand. Telogis’ products and services are used and distributed in more than 100 countries worldwide. Telogis also has partnerships with car manufacturers like Ford, General Motors and Volvo, as well as big-name tech companies like Apple.

Telogis CEO David Cozzens said the deal will be mutually beneficial for the companies.

“Verizon provides the brand equity, strength in the market, broad infrastructure and expansive global reach to take Telogis to the next level,” Cozzens said. “This strategic acquisition positions our collective technologies and services uniquely in the market while also enabling Verizon Telematics’ industry-leading business to benefit from Telogis’ unmatched strength in the enterprise market, innovative Mobile Enterprise Management software platform and our strong OEM and ecosystem partnerships.”

The terms of the deal were not disclosed. The transaction is expected to close in the second half of this year.

In the first quarter 2016, connected car additions accounted for 32 percent of net device additions for U.S. operators, surpassing phone net additions which accounted for 31 percent, Chetan Sharma Consulting found. According to the report, AT&T added more connected cars than all other operators combined.

Source: Wireless Week

 

BigChange Launch Second Round of Fund Raising to enable Technology Investment

‘Uber’ of service and transport sectors planning to raise £2m

Leeds, UK, 5th April 2016 – Serial entrepreneur Martin Port has launched a second round of fundraising for his Leeds-based technology business.

BigChange helps companies plan, manage, schedule and track mobile workforces and transport operations.

The tech business’ JobWatch app-based system replaces paperwork and keeps offices seamlessly in sync with staff on the road.

BigChange, which developed the technology and owns the intellectual property, achieved sales of £2m last year and is on course for £4m in 2016. It is expected to break even later this year.

Mr Port is forecasting earnings of up to £4m and turnover of £20m by 2020.

The company has built a base of more than 300 customers, including names such as HSS, Baxi Commercial, Ringway Jacobs (Transport for London), Serco, Morrison Utility Services and Elliott Hire as well as many SMEs. Subscriptions cost £49.95 a month.

Impra-Gas, the plumbing company co-owned by Lord Sugar and Joseph Valente, winner of The Apprentice 2015, signed up earlier this year.

Mr Port is planning to raise £2m via a sale of a 5% shareholding and bond issue, which are eligible under the tax-efficient Enterprise Investment Scheme. The Series A fundraising is based on a company valuation of £20m.

Mr Port said the fundraising is attracting “a great deal of interest” and the company is in talks with a number of potential investors and financial institutions.

He added: “Some people could say we are the Uber of the service and transport sectors.“

The fundraising will allow BigChange to invest its technology and increase sales and marketing.

Mr Port said the company is developing a “disruptive” new technology for the fleet insurance market to increase health and safety for drivers. He said he wants British businesses to be as well run as possible.

BigChange is also developing a new app focused on collaboration between service providers, subcontractors and their customers. The company will have direct access to a market of 300,000 businesses through the new app.

Mr Port is the founder of Masternaut in the UK and led the telematics business through a series of acquisitions. He was also named Ernst & Young’s Entrepreneur of the Year in 2008.

In 2011, Mr Port merged Masternaut with a rival to create a £100m European market leader in a deal backed by Francisco Partners, a US private equity firm.

Mr Port raised £1.1m in seed capital to launch BigChange in January 2014.

Backers include Mark Adlestone, chairman of high street jeweller Beaverbrooks, Frederic Dupeyron, managing director of Aeroport De Paris International, and Martin Lee, former chief financial officer of Crown Eye Glass plc.

Source: BigChange

Telent awarded key London CCTV maintenance contract

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Pioneering technology services company, telent Technology Services Ltd, has been awarded a contract for the maintenance of over 1,400 street-based CCTV cameras and associated CCTV Matrices and Operator Interfaces, which collectively form a pan-London Traffic Control CCTV system operated by Transport for London (TfL)

The cameras are distributed across each of the 32 Greater London Boroughs as well as the City of London, and provide the eyes on the street for TfL, the Metropolitan Police, City of London Police, London Ambulance and media services such as the BBC and TfL’s “JamCam” service.

The system monitors traffic flow and as such assists greatly in the management of road
incidents, bus lane and yellow box junction enforcement. The system also provides real-time information feeds to media channels and the travelling public.

The contract awarded to telent has a term of up to seven years and will cover the services to provide a comprehensive maintenance service, the supplementary works required to replace obsolete or damaged units, and the deployment of temporary cameras to cover special events.

This is another major new win for telent with TfL, following the award in June 2014 of a Traffic Control Equipment Maintenance and Service contract (TCMS2) for the West and South West of London.

“We are absolutely delighted to have been awarded this contract. We already maintain over 15,000 CCTV cameras in the London area and our efficient London based delivery operation has enabled us to offer Transport for London a very high level of service at a competitive price,” commented Chris Metcalfe, Managing Director of telent’s Technology Solutions business.

Iain Blackmore, Head of Traffic Infrastructure for TfL, stated: “Our Road Modernisation Plan is seeing huge investment being made to the capitals roads, improving journeys for all Londoners. This new contract is a good deal for London and will allow us to continue to actively monitor the Capital’s roads, helping keep disruption to a minimum.”

About telent

With annual revenues of over £300 million, telent has decades of experience in supplying a broad range of network and communications services. Today, the privately-held company employs approximately 1,500 people and has an engineering field force that covers the entire UK.

The leading technology company’s operational breadth and scale makes telent a service delivery partner of choice for organisations with mission critical communications networks — in every industry sector.

Customers include: BT, Virgin Media, Sky, Vodafone, Merseyside Fire & Rescue, Metropolitan Police, Highways Agency, Transport for London, Network Rail, Train Operators, London Ambulance Service, BAE Systems, EDF and Interoute.

Source: Telent

BT welcomes CMA’s approval of EE acquisition

BT welcomes CMA’s approval of EE acquisition

BT today welcomed the Competition and Markets Authority’s (CMA) decision to approve its acquisition of EE, unconditionally without remedies.

The CMA’s decision paves the way for BT to complete the acquisition of EE in the coming weeks and to incorporate the business into the wider BT Group in the months to come.

There will be a distinct EE line of business following completion of the acquisition. This will be led by Marc Allera who will become EE CEO following completion of the deal.

BT Chief Executive Gavin Patterson said: “It is great news that the CMA has approved our acquisition of EE. We are pleased they have found there to be no significant lessening of competition following an in-depth investigation lasting more than ten months.

“The combined BT and EE will be a digital champion for the UK, providing high levels of investment and driving innovation in a highly competitive market. I have no doubt that consumers, businesses and communities will benefit as we combine the power of fibre broadband with the convenience of leading edge mobile services. I look forward to welcoming EE into the BT family”.

Following today’s approval BT will commence the formal process of completing the deal. A prospectus will be issued in the week commencing January 25 with the deal set to close on January 29 when Deutsche Telekom and Orange will receive shares in BT. BT will report its Q3 2015/16 results on February 1.

Following completion of the deal Deutsche Telekom will have twelve per cent of BT shares and Orange will have four per cent. A representative of Deutsche Telekom will be appointed to the BT Board in due course.

About BT

BT’s purpose is to use the power of communications to make a better world. It is one of the world’s leading providers of communications services and solutions, serving customers in more than 170 countries. Its principal activities include the provision of networked IT services globally; local, national and international telecommunications services to its customers for use at home, at work and on the move; broadband, TV and internet products and services; and converged fixed/mobile products and services. BT consists principally of five customer-facing lines of business: BT Global Services, BT Business, BT Consumer, BT Wholesale and Openreach.

For the year ended 31 March 2015, BT Group’s reported revenue was £17,979m with reported profit before taxation of £2,645m.

British Telecommunications plc (BT) is a wholly-owned subsidiary of BT Group plc and encompasses virtually all businesses and assets of the BT Group. BT Group plc is listed on stock exchanges in London and New York.

For more information, visit www.btplc.com