Welcome to our dedicated page for Unisys Corporation news (Ticker: UIS), a resource for investors and traders seeking the latest updates and insights on Unisys Corporation stock.
Unisys Corporation (NYSE: UIS) is a global information technology company that provides innovative, industry-focused solutions integrated with cutting-edge security to clients in government, financial services, and commercial markets. The company operates through three main segments: Digital Workplace Solutions (DWS), Cloud, Applications & Infrastructure Solutions (CA&I), and Enterprise Computing Solutions (ECS).
Digital Workplace Solutions (DWS) focuses on transforming digital workplaces securely to create exceptional end-user experiences. This segment has witnessed increased activity with existing clients, contributing to consistent growth.
Cloud, Applications & Infrastructure Solutions (CA&I) offers digital platform services, application solutions, and infrastructure management. The segment is known for its robust digital platform solutions, and its recent performance has been bolstered by new business with existing clients.
Enterprise Computing Solutions (ECS) harnesses secure, continuous high-intensity computing to enable digital services through software-defined operating environments. The ECS segment recently unveiled the Unisys Logistics Optimization™ solution, leveraging quantum computing, advanced analytics, and pre-trained AI models to address complex logistics challenges more efficiently.
Financially, Unisys reported another solid quarter with a 0.7% year-over-year revenue growth. The company saw a significant increase in Next-Gen Solutions pipeline, indicating a strong market reception to its innovations. Recent reports highlight a robust pipeline and increased client consumption levels, particularly in the Digital Workplace Solutions and Cloud, Applications & Infrastructure Solutions segments.
Unisys has also been proactive in reducing its pension liabilities and volatility, completing multiple retiree buyouts while securing benefits with highly-rated insurance companies. Significant partnerships, like those with F&G Annuities & Life, reflect Unisys' strategic management of pension obligations.
The company has also been recognized for its innovative rebranding efforts, winning the top prize at The Drum Awards Festival in the B2B: Rebrand or Relaunch category. The new brand positioning, 'Experience Breakthroughs,' underscores Unisys' commitment to enabling transformative breakthroughs for its clients.
Unisys is committed to continuous improvement and growth. The company has reiterated its full-year 2024 revenue growth and profitability guidance, emphasizing its strong performance pipeline and strategic market position. Its leadership team, led by CEO Peter A. Altabef, remains focused on leveraging new technologies and driving operational efficiencies to unlock value for clients and shareholders.
Unisys Corporation (NYSE: UIS) announced a $280 million agreement with MassMutual to purchase a group annuity contract. This will transfer pension obligations related to certain retirees, resulting in a one-time, non-cash pre-tax settlement charge of approximately $150 million. This action follows a $276 million lump-sum cash-out offer to former U.S. associates. The company aims to reduce global pension liabilities by $1 billion by Q1 2021, affecting about 11,600 retirees with unchanged monthly benefits.
Unisys Corporation (NYSE: UIS) has been recognized by Information Services Group (ISG) as a leader in public-cloud solutions and services across the U.S., UK, and Brazil. In the latest ISG Provider Lens report, Unisys was highlighted for its CloudForte® managed-service offering, which emphasizes secure digital transformation through automation and AI. The report identifies Unisys as a leader in Managed Public Cloud Services and Consulting Services for Mid-market in the U.S. Additionally, Unisys has secured positions as a Product Challenger in various categories, illustrating a strong market presence.
Unisys Corporation (NYSE: UIS) announced the completion of a lump-sum cash-out offer for eligible former associates with deferred vested benefits in U.S. pension plans. Earlier in 2020, Unisys contributed approximately $800 million to its pension plans, aiming to reduce future required contributions. The current initiative is part of a broader strategy to lower global pension liabilities by $1 billion by Q1 2021, with about 3,500 former associates accepting the offer. This will lead to a one-time, non-cash pre-tax settlement charge of $150 million, with no impact on cash position.
Unisys Corporation (NYSE: UIS) announced the launch of Stealth(identity), an advanced biometric identity management software. This scalable solution offers flexible biometric authentication and security for enterprises on-premises or in the cloud. Enhanced features include seamless positive authentication, integration with Network Access Control, and a customizable user experience. The importance of verified identities is underscored due to increasing identity fraud losses, which reached $16.9 billion in 2019. Stealth(identity) aims to provide secure identity verification as businesses adapt to new operational challenges.
Unisys Corporation (NYSE: UIS) has been recognized as a Leader in the NelsonHall vendor evaluation for Cloud Infrastructure Brokerage, Orchestration & Management. This evaluation highlights Unisys's strong capabilities in delivering both immediate client benefits and addressing future needs. The report cites Unisys's automated hybrid cloud security, AI-Ops for cost optimization, and Cloud Experience Centers as key strengths. Unisys's reputation in cloud services has significantly grown, confirming its position as a provider of end-to-end hybrid cloud solutions.
SAS Cargo Group A/S has extended its partnership with Unisys Corporation (NYSE: UIS) to enhance air freight booking services via the Cargo Portal platform. This collaboration aims to simplify online bookings, provide real-time visibility, and expand SAS Cargo's market reach. The integration is expected to support a surge in self-service bookings, addressing customer needs efficiently. Unisys, a long-time supporter of SAS Cargo, emphasizes the opportunity to unlock new revenue streams and improve user experience through this partnership.
On December 3, 2020, Unisys Corporation (NYSE: UIS) announced its membership in The Valuable 500, a global network advocating for disability inclusion in business. CEO Peter A. Altabef emphasized the importance of diversity and integrating people with disabilities into their workforce, stating it aligns with their corporate social responsibility goals. Unisys has established the Ability Innovation Group to enhance workplace culture and has been recognized by the Disability Equality Index as one of the 2020 Best Places to Work for Disability Inclusion.
Unisys Corporation (NYSE: UIS) has been selected by West Bromwich Building Society to implement its Elevate™ omnichannel banking platform. This partnership aims to enhance the digital experience for West Brom members, allowing access to new services such as a mobile app and secure self-service options. The contract includes improved security features and operational tools for efficient product management. Elevate's open API architecture supports innovative service delivery, responding to a growing preference for digital banking, especially among older customers.
Unisys Corporation (NYSE: UIS) will conduct its 2021 Investor Event on January 12, 2021, from 9:00 am to 12:00 pm Eastern Time. This virtual event will feature presentations covering the company’s solutions, corporate strategy, and financial outlook for the upcoming years. Interested parties can access the live webcast on the Unisys Investor website, with a replay available shortly after the event.
Unisys specializes in IT services for businesses and governments, focusing on digital workplace services, cloud solutions, and integrated security.
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