Down The Procurement Pub with Cocktails, Global News, Rosslyn and Feist

Nancy and I had a lovely lunch this week with a friend of Spend Matters who leads a successful “solution provider” in our sector. (Unfortunately Nancy took the picture so you don't get to see her). However, our friend feels that his rather colourful non-alcoholic cocktail (with frilly umbrella thing) is not quite the no-nonsense tough businessman image he wants to portray, hence asked us to anonymise the picture. So here is me, his cocktail and some of his arm … We were in the Tamarind Kitchen in Soho, really excellent food. The tandoori lamb cutlets were indescribably good.

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Here is the BBC’s Hugh Schofield writing about the French presidential debate between Macron and Le Pen on Wednesday. “It is a great service they are providing in this debate – because they are laying bare in all its stark newness the great division of our times: not between left and right, but between the nation and the world. It is a debate which echoes far beyond the borders of France – which is why this fiery confrontation will go down in the annals”. What a great piece of writing – and so thought-provoking.

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Rosslyn Data Technologies announced an acquisition this week. The firm, which lost £2.4 million on a turnover of £3.9 million last year, is taking over Intergritie (UK), another data analytics firm, for some £2.6 million. To fund that, and raise some further capital, Rosslyn is issuing new shares worth £4.5 million. Those shares are issued at 4.5p, a discount of 40% to the prevailing share price, which is presumably very annoying for those diluted share holders. Intergritie also lost £2.4 million last year on sales of £3 million, so the idea is to reduce the overall cost base, share sales resource and customers. The hope obviously is that 2+ 2 will equal at least 5, or perhaps we should say that £2 million loss plus £2 million loss equals a profit. We wish them well but struggle to think of other situations where that strategy has worked, to be honest. The acquired firm does not really seem to be in the procurement space although frankly we struggled to work out from the announcement quite what they do. The firm “principally uses on-premises (non-cloud) IBM solutions to handle unstructured and semi structured data and deal with many varied sources and document types”.

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And while we’re talking about matters of great global import, the mega-trend towards more protectionist behaviour from governments is not confined to the USA and western Europe, unfortunately. As the KNN website reported from India;

“The Department of Industrial Policy and Promotion has forwarded a proposal to the Central Government to consider giving preference to the domestically manufactured products in cases of public procurement said Ramesh Abhishek, DIPP Secretary. The proposal is seen as a significant step to boost the Governments flagship project “Make in India”. It is also expected that a decision along the line will help encourage and strengthen the domestic manufacturers.

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After her huge global mega-hit (and iconic video) a few years back with 1234, you might have expected Feist to exploit her commercial power. But she has continued to plough her own very individual furrow and her new album Pleasure repays repeated listens rather than being instantly accessible. But she is never less than interesting and this, the title track, is a grower, as they say, even if it gets a bit weirs near the end!

 

 

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