Calgary-headquartered company WellPoint Systems (TSX:WPS) that specializes in AX implementations for the energy industry, primarily oil&gas, appeared in Deloitte's ranking of 50 fast growing companies in Canada in 2008, with 695% of revenue growth over 5 years. This news is a good contribution to AX popularization in Canada.
With the oil price dropped significantly since July 2008 and oil&gas companies being seriously challenged, the sustainability of WPS' further growth is jeopardised for the nearest future. Even though a bounce back in the price of oil is expected by many experts - as soon as the economy recovers, there is no certainty about when it would happen. The share price of WellPoint Systems has dropped by ~ 55-60% since the middle of the last year, based on TSX data.
This could be a good time for strategic M&A and partnerships in the AX segment as well as for other strategic moves to make a difference in the stagnating economy.
© Andrey Maslov
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