Ayesa buys Ibermática to create a large Spanish technology group – Cinco Días

Concentration operation in the Spanish technology sector. Ayesa has agreed to acquire the technology consulting firm Ibermática, until now controlled by the ProA Capital fund, as well as other minority shareholders, such as ONCE or Kutxabank. The goal is to create a large Spanish group focused on technology consulting. Ibermática is a company founded in the 70s and based in the Basque Country, where it will remain after the operation. At the end of 2021, it had 4,750 workers and a turnover of 276 million euros. Its business is specialized in offering solutions to companies and public administrations in the fields of development and maintenance of software applications and infrastructures, in addition to the implementation of emerging technologies such as artificial intelligence, advanced data analytics, cybersecurity and migration to the cloud. , among others. The resulting group will reach a turnover of 600 million euros, which will place it among the five largest technology groups in Spain, according to a press release. It will be present in 22 countries and the operation will allow it to reinforce its services in aspects such as artificial intelligence, data analytics, automation and robotization of processes or development of native applications in the cloud. The company will be controlled by the A&M Capital Europe fund, which Ayesa acquired last year. Its objective is to maintain the growth strategy with more acquisitions, after having made two other purchases this year. For this operation, Ayesa has relied on Arcano as financial adviser, with Houlihan Lokey as debt adviser and with Pérez-Llorca as legal adviser. For their part, the Ibermática partners have relied on EY to prepare the due diligence reports, Deloitte as financial advisor and Linklaters as legal advisor. Ibermática was a historical participation in the ProA portfolio, which acquired it in 2013. And it tried to sell it without success in several processes in recent years.