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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  John Wood Group    WG.   GB00B5N0P849

JOHN WOOD GROUP

(WG.)
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Delayed Quote. Delayed London Stock Exchange - 01/22 11:35:13 am
294.8 GBX   -4.81%
01/22WOOD GROUP (JOHN) PLC : - Director/PDMR Shareholding
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John Wood : Wood and Cognite Form Partnership to Unlock Value Through Artificial Intelligence Solutions for Industrial Operations

11/19/2020 | 10:01am EST

Wood and Cognite, a global industrial AI software company have agreed to a strategic partnership that will accelerate industrial transformation by creating AI solutions that enable more connected, sustainable and data-driven operations for heavy-asset, infrastructure and industrial clients.

The collaboration plays to the strengths of both companies to deliver value faster and at scale, combining Cognite's flagship product, Cognite Data Fusion with Wood's multi-sector domain knowledge, data extraction and technology integration expertise, which is proven to optimise productivity and performance.

Both companies are committed to deploying performance solutions that address the needs of the energy transition, with the collaboration allowing for greater understanding of existing assets and operations, liberating vast amounts of data trapped in fragmented and legacy systems.

'Wood and Cognite will leverage physics-based models and AI to quickly provide advanced analytics that drive more profitable and sustainable industrial operations,' said Mark House, Wood's president of automation and control. 'Through the partnership, we are addressing a familiar challenge in industry when operational and information technology converge. By combining Wood's world-leading process optimisation platforms like Virtuoso®, and our end-to-end asset and delivery know-how, into packaged and scalable solutions with Cognite's technology, we can unlock significant value for clients.'

'Working with Wood presents a fantastic opportunity for us to deliver value faster and at scale by playing to each of our strengths. The partnership embraces scalable innovation and value realisation which is accelerated by combining what both Wood and Cognite are best known for in the market,' says John Markus Lervik, CEO, Cognite.

Through Cognite Data Fusion, data will be transformed from siloed raw information into meaningful digital insights in real-time, to make faster and better-informed business and operational decisions.

'Adding Cognite's advanced AI data contextualisation and operations product to Wood's technology partnership ecosystem is an exciting step as we innovate in connected operations solutions,' said Darren Martin, Wood's chief technology officer. 'This collaboration will further enable us to meet the ambitions of our clients' and empower them to be future ready now.'

Digital and technology
Date published: 19 November 2020
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John Wood Group plc published this content on 19 November 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2020 15:00:07 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 7 608 M - -
Net income 2020 -5,10 M - -
Net Debt 2020 1 435 M - -
P/E ratio 2020 -382x
Yield 2020 -
Capitalization 2 722 M 2 718 M -
EV / Sales 2020 0,55x
EV / Sales 2021 0,55x
Nbr of Employees 43 200
Free-Float 99,0%
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Mean consensus HOLD
Number of Analysts 14
Average target price 4,58 $
Last Close Price 4,03 $
Spread / Highest target 34,8%
Spread / Average Target 13,5%
Spread / Lowest Target -22,9%
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Managers and Directors
NameTitle
Robin Watson Chief Executive Officer & Executive Director
Roy Alexander Franklin Chairman
David Miller Kemp Chief Financial Officer & Executive Director
Mary L. Shafer-Malicki Independent Non-Executive Director
Thomas M. Botts Independent Non-Executive Director
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