Cast info buy Aubay
The French group Aubay dedicated to providing software solutions and technology consultancy bought in December the 75% from Spanish company Cast Info,a company that also offers ICT solutions, which last year had a turnover of €30 million and a workforce of 580 professionals. Aubay also obtained an option to purchase an additional 25% within two years.
With this operation, Aubay strengthens its position in Spain in terms of both territory and customers. Cast Info will enable it to gain market share in segments such as insurance, public administration and water.
"In November 2014, the French group had already bought the Spanish company Norma4, which offers Consulting, Software Development, Outsourcing and Professional Services, which allowed it to increase its client portfolio, especially in the banking sector. Now the purchase of Cast Info reinforces its growth strategy in Spain and achieves its objective," says Diego Gutiérrez of Cast Info. Abra-Invest.
For foreign technology companies, Spanish technology professionals represent an opportunity, as they are well trained and the price they charge for their work is lower than in other countries.
In addition, the good position of companies in Spain is essential in order to be able to enter other Spanish-speaking markets.
Cast Info employs some 580 people, including its network of branches abroad. Founded in 1993, the company specialises in providing ICT services to companies, administrations and institutions. Its clients include, for example, the Government of Catalonia, Barcelona City Council, Agbar, Vodafone, Telefónica, Nissan, Zurich, Enagás, Santander, BBVA, the Racc and the University of Barcelona.
Aubay is listed on the Paris Stock Exchange, with a market capitalisation of ¤205.8 million.. Excluding Cast Info's staff, the group, founded in 1998, currently employs around 3,900 people in France, Great Britain, Italy, Belgium, the Netherlands, Spain and Portugal.
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