Indra is a Spanish technology company that has acquired the Spanish company Sistemas Informáticos Abiertos (SIA).
SIA is a Madrid-based company specialising in cybersecurity services, with a presence in Spain and Portugal, which wants to strengthen its position in its sector.
In recent years, the IT sector has been booming.
This is one of the key reasons why a number of moves are being made in corporate finance in the sector.
During the first weeks of this 2020, Indra has bought the Spanish company Open Computer Systems, SIA, specialising in identity and e-signature solutions.
The amount of the buy is more than €70m, and the objective is to create an entity to lead the cybersecurity business in Spain and Portugal.
It should be noted that the multinational technology company has a public shareholding of 18.7%.
In addition, this operation allows the firm to consolidate its position at the forefront of the information security market in the Iberian Peninsula.
It achieves this by turnover in value-added services.
The joint entity will have a team of more than 1,000 professionals, all specialised in identity and access management solutions, electronic signatures and data protection, among other services.
With this integration of SIA in its business, thus creating a fully specialised leader, with a broad and integrated offering, and a global presence to cover threat responses around the world.
Indra expects the cybersecurity market to grow in double digits until at least 2023.
It is also a very fragmented market in Spain, Europe and Latin America.
Therefore, its intention is to become the trusted partner, with a high level of specialisation and autonomy, of companies and institutions in the protection of critical infrastructures, both private and public.
The area of defence would be included, both in the Spanish market and beyond.
Spain's Indra offers information technology offerings in various sectors such as finance, insurance, energy, defence, health and energy.
Its product includes analytical capabilities and sustainability solutions, among others.
Since the announcement of its new acquisition, its shares have risen by 3.68%, making Indra the best Ibex stock so far this year.
Since the beginning of the year, it has appreciated by 10.81%.
Sistemas Informáticos abiertos is a company created in 1989 with 700 employees.
Its headquarters are in Alcorcón, and it is the a national leader in electronic identity and electronic form solutions.
It offers solutions and services in the area of corporate IT, and also develops proprietary solutions, and its customer base is diversified and stable.
It has clients with more than 10,000 security projects.
In 2019, the turnover of SIA 60m, and its gross profit accounted for around 91 Pt1T of revenues.