hit tracker
Thursday, September 28, 2023
HomeLatest NewsIndra acquires 9.5% of ITP from Bain and they will collaborate in...

Indra acquires 9.5% of ITP from Bain and they will collaborate in the development of technology

Date: September 28, 2023 Time: 00:45:57

Indra enters the ITP capital. The technology company takes a minority stake of 9.5% for 175 million and will sit on the board of directors, as the company communicated this Friday to the National Securities Market Commission (CNMV). In addition, both colleagues will collaborate when it comes to developing technology and, specifically, in the development resulting from the cooperation in FCAS, the program for the future European air combat system. As explained by the company chaired by Marc Murtra, the operation will close in the coming days.

The structure of the operation is consistent with the messages that the group has been giving on various occasions; among them, that his objective by entering ITP was not to be a mere financial partner. The representation on the board and the agreement reached between the two companies would go along these lines, although in accounting terms and given the minority representation it will be computed as a financial participation.

The entry into ITP, which Indra has been working on for a long time, would also fit with the Ibex’s objective of growing in the defense field. A few days ago, coinciding with the presentation of the first semester results, he said that his objective was to become a national champion in this segment and that it would be a step before expanding internationally.

In this, the new CEO, José Vicente de los Mozos, announced in his meeting with investors that the new strategic plan would focus on those objectives and specified that the priority goal was to lead the integration of the sense sector through the defense of through alliances and strategies and acquisitions of companies. “We will explore international expansion opportunities, but first we need to be leaders in the domestic market,” he defended. Indra is expected to formally present its new roadmap to the market in the first quarter of 2024.

The company is already actively working on creating this network and had recently made some small purchases and reached alliances with some players in the sector. For example, the agreements reached with Navantia or Tecnobit would go in this direction.

improvement of visions

The acquisition of ITP comes a few days after Indra has revised its forecasts upwards.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

Most Popular

Recent Comments