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Monday, May 23, 2022
HomeLatest NewsTelefónica consolidates in Germany after BE-terna acquisition closes

Telefónica consolidates in Germany after BE-terna acquisition closes

Telephony Techtechnology subsidiary of Telefónica, achieved agreement with certain investment funds managed by Deutsche Private Equity GmbH (and other suppliers) to acquire the entire German company BE-terna for up to 350 million euros.

In a relevant fact filed on Monday with the National Commission for the Securities Market (CNMV), Telefónica explained that the transaction amount is up to 350 million euros, includes possible variable remuneration.

BE-terna Group is a business group focused primarily on providing advanced cloud solutions for the digital transformation of companies and is a Microsoft Gold Partner. In 2021, the German company achieved an estimated revenue of €121 million through its operations in Germany, Austria, Switzerland and Denmark, among other markets.

With this acquisition by Telefonica Tech consolidates in a strategic market for the Telefónica group, such as Germany, by enabling a growth platform in new relevant markets in Europe, the Spanish group assured. The closure of the enterprise requires the permission of the German Antimonopoly Office (Bundeskartellamt).

In recent months, Telefónica has completed several acquisitions through its technology subsidiary. In March, the company announced it was buying UK-based Incremental for around €209m (£175m), including potential contingent payments linked to its future results.

It was in the UK market that the company signed the summer 2021 purchase of Cancom UK&I for around 400 million euros (£340 million), a year later also agreeing to integrate Acens and Altostratus and Geprom add-ons.

Telefónica Tech billed almost 1,000 million euros during 2021, up 33.6% from the previous year.



Source: www.lainformacion.com

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