Welcome to our dedicated page for CLPS Incorporation news (Ticker: CLPS), a resource for investors and traders seeking the latest updates and insights on CLPS Incorporation stock.
CLPS Incorporation (Nasdaq: CLPS) is a leading global provider of information technology (IT) consulting and solutions, specializing in banking, insurance, and financial services. Founded in 2005, the company has grown to serve a diverse clientele, including mid-size firms and Fortune 500 companies like Bank of America, Standard Chartered, and Sony.
Headquartered in Hong Kong, CLPS operates through 20 delivery and research & development centers worldwide, from the US and Europe to Asia and Australia. The firm offers a comprehensive range of services, focusing on IT consulting, customized IT solutions, and software products such as a Risk Control Platform, Transaction Acquiring Platform, and a Virtual Bank Training Platform.
Recent Achievements:
- Development of an innovative quantitative trading system for retail investors, leveraging algorithmic models for enhanced investment efficiency and risk control.
- Launch of an AI-generated content (AIGC) solution to improve project execution speed and reduce talent acquisition costs.
- Successful acquisition of Purple Potato Finance in Hong Kong to expand its credit card business.
- Acquisition of College of Allied Educators in Singapore to bolster its Talent Creation and Development Programs.
Despite global economic challenges, CLPS has managed steady financial performance through strategic innovations, acquisitions, and a strong focus on talent development. The company reported increased revenues from its global operations and a notable growth in its US business, reflecting its successful global expansion strategy.
CLPS has successfully acquired Shell Infotech through its subsidiary Ridik Pte. , aiming to bolster its global expansion strategy, particularly in Southeast Asia. Established in 2003 and based in Singapore, Shell Infotech is a renowned IT consulting and managed services provider, with a strong presence in banking and insurance sectors across Singapore and Malaysia.
The acquisition will integrate Shell Infotech's workforce into CLPS's operations, with employees relocating to Ridik's Singapore office. This move is projected to increase CLPS's revenue in Southeast Asia by 25% to 30% and bring 27 new clients into its fold. CLPS plans to maintain the Shell Infotech brand to leverage the combined strengths of both firms, enhancing its market competitiveness and expanding its service offerings.
Key executives from CLPS expressed optimism about the acquisition, highlighting its role in advancing the company's growth plans across the Asia-Pacific region, including markets in Malaysia, the Philippines, Japan, India, Vietnam, and Australia.
CLPS celebrates IBM's 60 years in mainframe leadership and highlights its commitment to talent development. Recognizing IBM's contributions since the 1964 launch of the IBM System/360, CLPS underscores the importance of mainframes in digital transformation. CLPS's Talent Creation Program (TCP) offers a comprehensive six-month curriculum combining theoretical knowledge and practical training, focusing on mainframe technologies like JCL, COBOL, and DB2. The program has successfully graduated over 6,000 professionals for global financial institutions. CEO Raymond Lin emphasizes the significance of IBM's Mainframe Skills Council in fostering a skilled workforce and vows to enhance CLPS's training programs further.
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