Healthy Q2 and Italian Acquisition for ISG

Technology research and advisory firm ISG has reported second quarter revenue of $61.6m - up 7% allowing for divestments - and adjusted EBITDA up 17% to $8.3m. the firm has also agreed to acquire Martino & Partners, a strategic advisory firm serving public and private sectors clients in Italy.

Reported revenues for the quarter ending June 30th were down 4% year on year, but this excludes the effect of ISG's divestment of its automation unit in October last year. Allowing for the loss of this component, Americas revenue rose 16% to $39.5m, while European revenue fell 7% to $16.6m and Asia Pacific fell 1% to $5.4m.

Chairman and CEO Michael P. Connors (pictured) states, 'ISG delivered an excellent second quarter, underscoring our momentum as an AI-centered firm with strong, trusted client relationships.' He adds: 'Enterprises remain cautious about tech spending in general but continue to leverage technology for cost optimization while moving forward aggressively to modernize their infrastructure as they prepare for broad adoption of AI. These trends are right in ISG's sweet spot. Our AI-centered positioning, investment in expanded AI capabilities and long-term focus on operational excellence continue to resonate with our client base.'

The acquisition of Milan-based Martino & Partners, which is expected to close in early September, will expand ISG's client base, geographic footprint and capabilities in Italy. Connors says the buy 'expands our addressable market in Italy, where we see an emerging growth opportunity.' He continues: 'Martino & Partners brings more than 20 new clients to ISG Italy; expands our public sector reach beyond the central government to serve municipal entities, and gives us a strong presence in northern Italy, where many leading commercial enterprises are located.'

ISG is online at www.isg-one.com .