Megabuyte - Technology sector intelligence

Interim results from workforce management software vendor Workplace Systems reflect both a slow start to the period and increased investment in growth. However, it is also clear that business picked up sharply towards the end of the period as a number of long awaited new SaaS orders dropped into place. Revenues of the six months to September were up 7% to £4.7m but the company reported a £0.5m operating loss compared to breakeven in H1 2010.

Clearswift - repositioning for renewed growth

We initiate coverage on Clearswift which was originally founded in 1982, as NET-TEL, a messaging firm. After operating as a messaging firm for more than a decade, in 1998, NET-TEL switched its main business to content filtering after Microsoft Exchange Client captured the e-mail client market. Since then, the company turned its focus onto the content filtering market and, today, Clearswift is an IT security solutions provider catering to 17,000 organisations globally spread across various sectors. The company provides content filtering, web and email security solutions through various deployment means such as software, appliance and managed services. Through its flagship product MIMEsweeper, the company addresses both inbound and outbound e-mail content security solutions. Premium subscribers can read our full write-up here and Premium Plus subscribers can also see the full profile on the Megabuyte database here.

Probability approaching mobile gambling inflection point

Mobile gambling provider Probability has reiterated the positive outlook from its recent update and fund raise (Premium Plus readers see our Probability profile here), with demand growing way above expectations since the summer off the back of new smartphone applications. Our chat with CEO Charles Cohen confirmed our view that the company’s interim results to September out today are therefore misleading, showing falling revenues and increased losses due to the new Gibraltar licence. The company’s description of being at a potential inflection point, with costs falling and demand rising, is probably a fair reflection.

Vyke enters debt renegotiations and launches new service

Mobile VOIP provider Vyke continues to battle to secure its future, with ongoing discussions to extend looming debt repayments of £2m. At the same time, the company has launched a fairly innovative new low cost product for international calls to Nigeria. The company's future continues to be uncertain, to say the least. Read our first thoughts on the announcement in Newswire Plus.