Itconicformerly known as Telvent Global Services has three main lines of business: data centres, platforms and IT services. Within its data centre division, the company has become renowned for interconnecting its five data centres (4 in Spain and 1 in Lisbon), with the aim of offering greater agility and interconnection flexibility to its customers.
Also in the platform area, Itconic has carried out strategic actions, such as the purchase of CloudMas at the beginning of 2016. At that time the only premium cloud consultant for Amazon Web Services in Spain.
In 2015, Carlylewhich already had experience in the sector, bought Telvent for close to €22M from Schneider Electric. From this moment Itconic began a process of change - organisational, strategic and cultural - with two very clear objectives in mind: strategic focus and profitable growth.
Itconic currently employs around 290 people. In 2016 it had a turnover of €47M and an EBITDA of €8.9M. Although they expect to reduce sales this year, they estimate their EBITDA to reach €14M, considerably improving their profitability ratio. From 2018 onwards, they expect double-digit growth in revenues and EBITDA.
Itconic, which has been in decline for a number of years, however, in the last year has managed to reduce its debt ratio (11.8 to 6.5) and improve its profitability considerably (9% to 19%).
One year after the acquisition, Carlyle has decided to sell Itconic to Equinix. Itconic will be able to strengthen its position in Europe and expand its presence in two new countries in the region. In addition, Equinix will benefit from the Itconic team's expertise in hybrid cloud architectures and cloud computing adoption and migration strategies.
As a result of this acquisition, Equinix will serve more than 400 customers in the Iberian Peninsula, including brands such as L' Oreal, Vueling, Deloitte, BNP Paribas, Repsol, Real Madrid, Randstad, Carlson Wagonlit Travel, Aon and Bank of America. In addition, Itconic operates more than 100 networking and mobility companies and more than 90 cloud and IT services companies, including Amazon Web Services (AWS), Microsoft Azure and Google Cloud.
The deal to acquire the Neutral Data Centre, Connectivity and Cloud Infrastructure business was sealed on 8 September and the acquisition is expected to close in the fourth quarter of 2017 subject to customary closing conditions, including regulatory approval.
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