Megabuyte - Technology sector intelligence

Banking and healthcare software vendor Misys has issued is full year results to May this morning which show strong profit growth on revenues up slightly. Underlying revenues for the group increase 3% to £786m whilst operating profits increased 10% to £151m. In a separate announcement, Misys has said that the placing associated with the merger of Allscripts with Eclipsys will be scaled back from 36m to 25m shares.

Board rumblings about Berruyer appointment as Sage prepares to deliver final offer for TeamSystem

Following on from our piece last week (Premium Plus subscribers see here for a reminder) regarding the ongoing sale process of Italian SME business management software vendor TeamSystem, we now understand that final bids are expected by Friday with Sage and two private equity players hoping to acquire the business. On a separate note, we also understand that the appointment of Guy Berruyer as CEO last week has created some internal rumblings on the Sage board. Premium subscribers can read our full piece in Newswire Plus.

Intec in preliminary takeover discussions

Telecoms software vendor Intec has announced that it is in preliminary discussions which may lead to an offer. This follows the company’s profit warning earlier this year (Premium Plus readers see here), which led to an almost halving in the share price from 94.5p to the 50p level before the market got a whiff of a takeover, and sent the shares back up to yesterday’s 69p. Whilst we would not rule out interest from the private equity sector, we think there is one obvious bidder for Intec. Read our full thoughts in Newswire Plus.

Transatlantic divide in SAP Q2 results

ERP software giant SAP has issued its Q2 results this morning which show 5% revenue growth in constant currency terms to €2.9bn with licence sales up 5% to €637m and services revenue ahead 8% to €2.3bn. Perhaps the most striking aspect to the figures is the wide variance in the performance of the business in the US and Europe. Software revenues at constant currencies in the US rose 40% but were down 12% in the EMEA region. Overall revenues from EMEA were flat but were ahead 11% in the US. This divergence in performance underlines a trend we have heard reported from a number of companies that the US is recovering strongly whilst Europe remains tough.

Idox gets excited about elections

Supplier of software and services to Local Authorities Idox has announced its third acquisition this year in the form of Strand Business Systems. Strand provides electoral management software to 116 local authorities in the UK and generated profits of £0.8m on revenues of £1.6m (75% of which is annually recurring) in the year to June 2010. Idox is paying £4.4m in cash of which £3.9m will be paid on completion and another £0.5m in 12 months time. Read our first thoughts on the deal in Newswire Plus.

Amino signals a strong first half

IPTV set top box supplier Amino has released a strong set of interim results, suggesting that the company has overcome last year’s supply hiccup and is starting to benefit from improving industry macro trends. Revenues grew 42% to £18.1m, whilst estimated adjusted EBITDA margin swing from -14% to +4%. Cash collection was also impressive. Market revenue forecasts for the year are almost certainly likely to increase off the back of these results. Premium subscribers can read our full results review in Newswire Plus.

Patsystems enjoys solid H1 growth despite US weakness

Derivatives trading software vendor Patsystems has issued half year results to June this morning which shows revenues up 6% and profits up by over a third to £1.0m. Revenues growth was spread fairly evenly across the three main business areas of Trading, Risk and Exchange system but was definitely biased towards Europe and Asia. Read our full review of the results in Newswire Plus.

Probability’s year of transition

Fully year results from mobile gambling provider Probability showed revenues slightly down and costs up as the company picked up the pace of investment. Despite the second half being down on the first half in most respects, the company is confident for the future given its investment last year in applications and technology, with the new iPhone apps exceeding management expectations. See here for our full review.