Dominion, Cie automotive's engineering and technology services subsidiary, which went public in April this year, made its first acquisition as a listed company in March.
Dominion buys Commonwealth
Dominion, subsidiary of Cie automotive has bought the American company Commonwealth for €5.2 million.
5.2M will be disbursed in two tranches: a first payment of $2.1M ('1.8M) at the closing of the transaction and a second payment for the remainder of the agreed amount to be made on a deferred basis over a period of three to five years and linked to the evolution of certain financial and business parameters of the company. Commonwealth Dynamics.
With this purchase, Dominion strengthens its offering in the field of specialised solutions and consolidates its position in markets with great potential in the industrial sector, such as the United States, Chile, Mexico, Peru and India, countries where Commonwealth operates.
Dominion had already made purchases before going public.
Dominion has been growing through acquisitions in very different sectors since 2014, to become one of the multi-sector technology leaders in Spain.
Among the companies it has acquired are Bilcan (commercial services), Global Near (digital solutions) and Beroa, a company dedicated to the search for industrial solutions and services in the field of applied energy.
Dominion's activity
Dominion offers IT services in different sectors. Its portfolio is very diverse and includes, among others, installation, maintenance and repair services for industrial electronic components. It is currently active in 28 countries.
In the words of Anton Praderas, president of Dominion, "We believe that any physical activity, light, heat, colour, etc. that can be digitised, that can be transported through telematic networks and that we can then analyse it with intelligent software and intelligent big data, so that from there we can dispatch an order for any service, is valid for our business model".
Cie Automotive acquires Amaya Telleria Group
At the same time as Dominion bought Commonwealth, its parent company Cie Automotive bought Amaya Telleria, an industrial company based in the Basque Country. The transaction price, €186M, values the company at a very high price, (adding debt and equity) almost six times Ebitda.
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