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LXFT

Luxoft

$38.35

0.6 (1.59%)

10:17
08/07/18
08/07
10:17
08/07/18
10:17

Luxoft acquires Objective Software, terms not disclosed

Luxoft Holding announces the acquisition of Objective Software, a provider of software development services and IP based solutions for autonomous vehicles, Advance Driver Assisted Systems, high-accuracy positioning, innovative mobility and smart city applications. Objective implements its advanced technology solutions in the automotive sector, with a focus on connected cars and autonomous drive services for leading Original Equipment Manufacturers and suppliers. This acquisition expands Luxoft's ADAS, Autonomous Drive and Connected Mobility practices and illustrates a commitment to meet the growing demand for these services. Upon completion of this transaction, Luxoft gains access to a range of IP-based solutions developed by Objective, including a tele-operated driving platform, cloud-based autonomous car-sharing, automotive cybersecurity solutions and a Lidar-based automated parking scanner. These solutions, combined with Objective's domain expertise, will enhance Luxoft's design, development and implementation of next-generation software that empowers our clients to succeed in the mobility revolution. Given close synergies with the company's service-led model, backed by in-house application development, the company anticipates opportunities to significantly scale Objective's existing projects in autonomous driving and connected mobility. In particular, the acquisition further strengthens the company's presence in Munich where we intend to expand software development services for highly automated driving with OEMs and Tier1s, thereby delivering software effectively across the full value chain.

  • 15

    Aug

LXFT Luxoft
$38.35

0.6 (1.59%)

05/24/18
WBLR
05/24/18
DOWNGRADE
WBLR
Market Perform
Luxoft downgraded to Market Perform from Outperform at William Blair
05/25/18
BREN
05/25/18
NO CHANGE
Target $55
BREN
Buy
Luxoft price target lowered to $55 from $60 at Berenberg
In a post-earnings research note titled "Not for the faint-hearted," Berenberg analyst Georgios Kertsos lowered his price target for Luxoft to $55 from $60. His new target represents 70% upside following yesterday's 25% selloff. The company's Q1 outlook, which came in 50% below consensus, largely excludes revenue relating to Deutsche Bank (DB), Kertsos tells investors. He remains "convinced" about Luxoft's fundamentals, noting the company's organic growth outside Deutsche Bank and UBS (UBS) grew 18% year-over-year in Q4. The analyst keeps a Buy rating on the shares.
05/25/18
CANT
05/25/18
NO CHANGE
Target $44
CANT
Overweight
Luxoft risk/reward positive after selloff, says Cantor Fitzgerald
Cantor Fitzgerald analyst Joseph Foresi believes the risk/reward for shares of Luxoft is positive following yesterday's selloff. The analyst sees opportunities for multiple expansion coming from reduced client concentration, "healthy" growth outside core clients, margin expansion, and the auto business. He notes, however, that uncertainty at the company's largest client has clouded visibility. He keeps an Overweight rating on Luxoft and lowered his price target for the shares to $44 from $54.
06/01/18
FBCO
06/01/18
UPGRADE
FBCO
Neutral
Luxoft upgraded to Neutral from Underperform at Credit Suisse
Credit Suisse analyst Charles Brenman upgraded Luxoft to Neutral, but cut its price target to $35 from $45, following management's CMD meeting yesterday that was positive in tone. The analyst said the automotive opportunity came across well and management is targeting growth of 17.5% and EBITDA margins of 17%, which suggests shares could be trading near a trough.

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