Cycloid is now part of InnoWave Group

InnoWave announced the entry into the capital of Cycloid, a company specialized in the design, development, implementation and management of innovative solutions in the areas of TV and media, IoT and analytics, using cloud technologies and artificial intelligence/machine learning.

The entry of the technology company in the national group will allow the reinforcement of skills as well as explore new business opportunities. It will also promote internationalization since 66% of Cycloid's turnover is related to external business and was decisive for the purchase.

Furthermore, it allows InnoWave to grow and strengthen its position in the IT market. This year, the company expects revenues of 30.9 million euros, which represents a growth of 28% compared to 2021.

InnoWave has a mergers & acquisitions strategy to grow the business and the group, having acquired Wintrust in 2018, to strengthen the software testing area, and ViGIE Solutions in 2019, to solidify its position in the areas of IoT and Healthcare.

Tiago Gonçalves (in the photo), CEO of InnoWave, explains the acquisition: «in a time where the market presents companies with multiple and demanding challenges, InnoWave assumes itself as a buyer of companies with skills that reinforce our portfolio and that have a strong international footprint. This acquisition is another step in our growth strategy, which also materialized in competence centres in Portugal, such as Lisbon, Porto, Coimbra, Faro and Beja».

 

Source: https://business-it.pt/2022/10/06/innowave-compra-cycloid-e-reforca-aposta-na-area-de-media-iot-e-analytics/

 


InnoWave Results 2021

InnoWave grows 23% in 2021 and increases business perspectives for 2022

The Portuguese multinational company reported strong results last year and revised its 2022 growth plans to 28 per cent

InnoWave, a Portuguese technological innovation company, presented its 2021 financial results, with consolidated revenues of 24.1 million euros, an increase of 23% compared to 2020. With these results, ascertained on December 31, InnoWave revises its business perspectives for 2022. The company aims to end this year with revenues of 30.9 million euros, which represents a growth of 28% (16% organic and an additional 12% from acquisitions).

Among the fastest-growing areas are IoT (Internet of Things), cybersecurity, salesforce, automated software testing and blockchain.

In terms of revenue by geographic market, the largest market was the UK with 38% of the business, closely followed by Portugal with 21%, Benelux with 18% and the United States of America, which accounted for 16%. InnoWave has also seen rapid growth in its operations in India, which grew to 7% of global turnover. The international market was worth 79% of turnover last year.

As far as areas of operation in 2021 are concerned, Communications, Media & Technology stand out, representing 79% of the business, followed by Financial Services and Insurance with 11% and Energy with 7%.

 

Company to increase the team in 2022

To strengthen its offer during 2022, InnoWave plans to hire 160 people, in Portugal and India. In Portugal, the company opened new offices in Beja, focused on Cyber and IoT, facilities that complement the offer available in Lisbon, Porto and Coimbra. By the end of this year, the Portuguese multinational plans to open two more locations in Portugal to better cover the territory and give its teams more location options.

Tiago Gonçalves, InnoWave’s CEO: "We continue to bring value to our clients as they accelerate on their digital transformation journey. Our excellent performance in 2021 shows our ability to capitalise on the market opportunity that exists for the most innovative technology players. This is the direct result of our strategy of building a people-centric organisation, hiring the best talent and upskilling professionals where we are present. It also reflects the result of the strategy of focusing our business on the most strategic and innovative offerings and the goal of helping the world's leading companies power their businesses using the best of technology (digital, cloud, IoT, security, Data & AI and blockchain)."

Among the different InnoWave solutions and platforms that contributed to these solid results, the startups Vigie and Gamifyou should also be mentioned.

Vigie Solutions is the provider of a cloud health technology solution that allows more efficient and safe management of Hospitals, Pharmacies and Laboratories, allowing the intelligent monitoring of critical processes, using artificial intelligence, through the real-time collection of data from sensors. Vigie Solutions has more than 150 customers in Portugal and is now investing in its international expansion, having already customers in the United Kingdom, Belgium, Spain and Italy.

Gamifyou is a spinoff of the InnoWave Universe, created in 2021.  Gamifyou has a cloud platform that uses artificial intelligence and gamification techniques to encourage good practices and promote behavioural change in employees, customers and citizens.

 

 


Making decisions out of Fear 

One month ago a client told me that he thought I was very brave.

He told me that I had a lot of courage, and until today I dismissed the comment because for me, being brave means overcoming all your fears or overcoming extraordinary challenges, like climb the highest mountain in the world, or my case, entering in an aquarium with a lot of snakes.

Never came to my mind that I was demonstrating bravery every day, but the reality is that we all do. When we started our internal campaign, talking about InnoWave's values, I realized that different perspectives may coexist for the same values ​​of courage, ambition and bravery. 

Make Decisions

The dictionary definition of courage is “the quality of mind or spirit that enables a person to face difficulty, danger, pain...without fear.” however if we look at a more entrepreneurial spectrum, we deal every day with several obstacles and a multitude of fears as a part of our daily lives and for the most part, we dismiss our ability to overcome these as not worthy of acknowledgement.  

For the past few years, I’ve been giving a training session at InnoWave focused on Stephen R. Covey's book, The 7 Habits of Highly Effective People. One thing I’ve learned through my path, is that recognizing your courage and bravery, no matter how insignificant the situation may seem to you, is empowering, it fuels your self-confidence, personal and professional power and this is the reason why all InnoWave leaders should continue to recognize every act of courage from their employees. 

It’s true that when we become part of this " world of work" or in a new company or a new challenge, we always have the following fears: 

  • “Afraid of becoming stagnant and complacent.” 
  • “Afraid of not being in control.” 
  • “Afraid that I won't be able to get the job done.” 

And there is no harm in having these fears, but it is also true that we can be afraid of joint construction of the following habits: 

  • Remind yourself that fear isn’t always helpful 
  • Have confidence in yourself, believe that your ideas are good, express your ideas and defend your view 
  • Embrace failure as part of the pathway to success 
  • Calculate risk-taking, re-think risk and think big 
  • Take initiative, show initiative and save time for your company 
  • And most important of all ‘remember to breathe’ important activity in decision making 

In January I turned 10 years working at InnoWave. During my career path, I went through so many different functions, always challenging myself every day and I was afraid so many times but I always continued to do my best, I worked hard for 7 years to reach the Manager position. My main job role at the moment was due to a lot of courage aligned with ambition and bravery, for sure and obviously for all the recognition over time of my teams, peers and leaders. I love the following quote from one of Rocky Balboa's films “But it ain't about how hard ya hit. It's about how hard you can get hit and keep moving forward. How much you can take and keep moving forward. That's how winning is done!”, so never give up on your desires and goals. 

Challenge yourself

Challenge yourself , challenge your team leader, don't be passive but active, find places where you can bring value and help to grow your organization and outside of work always try to put your stamp on everything you do because only then you will have a happy life and happiness feeds our soul. 

by Tiago Correia, Head of Staffing