After acquiring 100% of Bilbomática’s shareholding, once the agreed suspensive conditions are fulfilled and in the absence of a definitive commercial and financial integration, the two companies will continue to operate independently within the group.
Bilbomática, a benchmark in the IT sector in the Basque Country, focuses its activity on the provision of technological services within the public sector, in areas such as innovation, industry, tourism, health, public administration, environment, social welfare, utilities and energy, among others. “The transaction has revolved around the process of identifying the most suitable acquirer for the interests of Bilbomatica and its selling shareholders, and now poses the challenge of integration and the generation of synergies and future roots for the buyer,” said José Ramón Berecibar, partner in charge of the transaction.
The transaction, worth €24 million, will strengthen Altia’s technological services offering, especially in Navarre and the Basque Country. The operation implies the integration of more than 500 professionals into the group, an important contribution of talent and knowledge that is particularly relevant because of the tough market competition. Bilbomática joins a business project whose growth is synonymous with solvency and solidity. Its position as a supplier of the General Administration and its portfolio of European clients will allow new synergies to the Altia Group to continue positioning itself in the global technology market.
The Cuatrecasas team advising Bilbomática on the transaction was formed by partner Jose Ramón Berecibar and lawyers Jon Lanz and Daniel Acedo.
