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Sunday, April 21, 2024

A&O assists VASS with its acquisition of Movetia

Allen & Overy has advised VASS on its purchase of Movetia, a leading digital services company with deep expertise in digital strategy, and the design, implementation, and development of best-in-class digital solutions for the financial and automotive sector

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Founded in 2011 and headquartered in Barcelona, Movetia’s exceptional talent and ability to deliver a wide range of high-quality digital services have resulted in the Company being rated one of the most innovative and fastest-growing companies in Europe for three consecutive years.

“The acquisition of Movetia has numerous benefits for VASS, from reinforcing our strategic commitment to the Catalonia market to supporting our mission to increase our leadership in core competencies such as mobile application development and digital solutions and consolidating our presence in core verticals in core sectors for the group such as financial services and automotive,” says Fco. Javier Latasa, CEO of VASS.

Movetia has been rated as one of the most innovative and fastest-growing companies in Europe for three consecutive years. Its talent and its ability to offer a wide range of high-quality digital services have been some of the key elements that have driven our attention. This acquisition full fills our objective to increase our leadership in core competencies such as mobile application development and digital solutions, as well as to consolidate our presence in core sectors for the group such as financial services and automotive,” said Fco. Javier Latasa, CEO of VASS.

“Since our founding, Movetia has been a leader in the Spanish digital transformation market. We are now expanding together with VASS on our journey to increase the value we deliver to our clients, who will now benefit from the full offering of VASS Group and new synergies this combination creates,” added Jordi Termes, founder of Movetia.

This acquisition is another step in the VASS@400 strategy, launched in early 2021 and backed by U.S. private equity firm One Equity Partners. Movetia is the fifth transaction since the plan launched, following the recent acquisitions of One Inside, a leading Adobe technology solutions specialist based in Switzerland, CRI Group, a company specializing in the digital transformation of European Union entities, ECENTA, a German leader in the development of customer experience solutions, and Comunytek, a specialist in advanced systems for wholesale banking and capital markets.

“The acquisition of Movetia brings new strengths in Digital strategy services, UX Research, and Service Design which perfectly complements the offering of VASS and enhances VASS’s ability to deliver the best digital solutions and services to the group’s clients, whatever their sector, size, or geographic location,” stated Jörg Zirener, senior managing director at One Equity Partners.

Allen & Overy’s team was made up of partner Ignacio Hornedo, and associates Carlota Roldán and Miguel Zulaica (Corporate), senior associate Álvaro Sánchez-Bordona and associate Enrique Díaz-Mauriño (Public Law), senior associate Enrique Ferrer and associate Aixa Pol (Antitrust), along with, from A&O Amsterdam, partner Sophie Roozendaal, Pauline van der Hijden and Eveline Jansen and, from A&O Hamburg, senior associate Marcus Mackensen.

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