Information Services Group (III) Stock: Why It Increased Over 2% Today

By Amit Chowdhry ● Jun 30, 2022
  • The stock price of Information Services Group (ISG) (Nasdaq: III) increased by over 2% during intraday trading today. This is why.

The stock price of Information Services Group (ISG) (Nasdaq: III) increased by over 2% during intraday trading today. Investors are responding positively to Information Services Group announcing it has been awarded a 3-year US $10 million (€9.4 million) agreement by the Italian government to help manage and oversee the government’s digital transformation program.

Under the new framework contract awarded by Consip, the Italian Public Administration’s central IT purchasing body, ISG will provide governance services for various digital transformation initiatives in support of Italy’s “Three-Year Plan for Information Technology in the Public Administration” prepared by two government entities: AgID (Agenzia per I’Italia Digitale – Agency for Digital Italy) and MITD (Ministero per l’Innovazione Tecnoligica e la Transizione Digitale – Ministry for Innovation Technology and Digital Transition).

Plus ISG will work closely with AgID, Consip and MITD to govern a broad set of initiatives aimed at developing and improving Italy’s digital services, including helping the Public Administration’s control bodies verify the initiatives are delivering expected value in terms of digitization KPIs and achieving their targets under the three-year plan. And ISG has supported the Italian public sector for more than a decade, including governing ICT contracts for the Ministry of the Interior in a relationship that dates back to 2010. 

The firm has also provided Consip with benchmarking services related to framework agreements for the Public Administration; analysis of cloud strategy scenarios for AgID, and contract monitoring services for INAIL (Istituto Nazionale per l’Assicurazione contro gli Infortuni sul Lavoro – the National Institute for Insurance against Accidents at Work).

KEY QUOTE:

“This is a significant win for ISG, underscoring our strong track record of supporting digital modernization efforts for our clients. We are proud to be a part of Italy’s program to leverage technology to improve the accessibility and efficiency of government services for the Italian people, and to build a stronger, more resilient Italy, post-pandemic.”

— Michael P. Connors, chairman and CEO of ISG

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.