Top 5 Spanish companies sold in the IT sector in 2020

Integral service around a transaction
BY : Diego GutiérrezDecember Fri, 2020

Spanish companies sold from the sector IT are mainly SMEs, with more than 90% having a turnover of less than €15m, and at the same time it is a very active sector from an investment point of view. Specifically, in Spain in 2020, a total of 120 acquisitions

In this image you can see a graph with the turnover of the Spanish companies sold. The highest number were those with a turnover of 5 million and the lowest between 12 and 15 million.

Below, 5 transactions that we have highlighted because of the attractiveness of the spanish companies sold: 

1. Tink buys Eurobits for 15.5M€ (Fintech and Information Technology)  

Territorial Tax Management (GTT) was founded in Alicante more than three decades ago and has become a reference in municipal tax collection, providing its services to more than 3,300 institutions throughout Spain and Latin America.  

AnaCap Financial Partners is an English private equity firm founded in 2005.  

The transaction was announced in July 2020 and the agreed price is close to €120m.  

This operation has allowed Anacap to break into Spain, where it had so far participated in several sales processes related to the financial sector such as Caser or the mortgage servicing subsidiary of Unicajaamong others.  

One of the great attractions of GTT is the great technological potential of the company and the type of business in which it operates. This attracted different funds, such as Carlyle or Oakley Capital.  

2. Acquisition of fintech company Eurobits by Tink

Eurobitsfounded in 2004 and headquartered in Madrid, provides account aggregation services to international banking and fintech clients including BBVASantander or Bankia

Tinkfounded in 2012, serves some of the world's leading banks and fintechs including PayPalKlarnaNatWestABN AMRO and BNP Paribas. The open banking platform is also used by more than 5,000 developers.  

The transaction was announced in March 2020 and the price paid amounted to €15.5 million.  

Through the transaction, Eurobits takes advantage of the opportunity to help Tink expand its service offering in Europe and Latin America.  

3. Gamma buys 94% of Voztelecom for 19.2M€ (Software and Telecommunications) 19.2M€.

Founded in 2003, VozTelecomis a communications operator with thousands of customers throughout Spain and a leader in the cloud telephony sector for SMEs.  

Gamma is a company listed on AIM (London's Alternative Investment Market), since 2014.  

The transaction was closed in February 2020, Gamma acquired 94.90% of VozTelecom's share capital and the transaction price was a total of €19.25M.   

Through the transaction, VozTelecom benefits from synergies with Gamma while Gamma achieves an important milestone in its European expansion strategy.  

Indra buys SIA for 70M€ (Financial Services)

Founded in 2000 in Madrid, SIA has a diversified and stable customer base with more than 10,000 security projects and is the national leader in identity and e-signature solutions.   

Indrais one of the leading global technology and consulting companies in Spain and Latin America. 

The sale was announced in early 2020 and the transaction price was closed at €70m.  

Thanks to the transaction, Indra consolidates its leading position in the information security market in Spain and Portugal and SIA benefits from Indra's customer base.  

5. EQT buys a majority share of Freepik (Enterprise Software)   

Founded in 2012 in Malaga, Freepik is one of the platforms online leaders in the supply of graphic resources (photos, vectors and icons) that have transformed the visual content and graphic design market. online thanks to its innovative business model freemium.  

EQT's investment is a Stockholm-based venture capital firm. 

In May 2020, the EQT fund entered into an acquisition agreement in which a majority position was agreed. 

EQT will contribute to the acceleration of Freepik's international growth, leveraging Freepik's digital expertise and international presence. 

In the meantime, Freepik aims to boost its penetration in existing markets such as the United States and Asia, with the goal of becoming the leading reference platform in the market.  

The five selected companies stand out for the innovative solutions they provide in the IT sector. This is precisely what has attracted the attention of different types of investors, from strategic investors such as Indra to financial investors such as AnaCap.  

The M&A Professionals

Meet our services



Do you want to be up to date?


Our diferentiation

Market Research Technology
Our team of market analysis specialists is continuously analyzing the investments of the most active markets in the industry in order to unceasingly contribute ideas of the current market situation and identify the most relevant trends for senior management. We integrate the most relevant sources of information which allows us to discover the most interesting companies for venture capital and similarly helps us to identify the investors with the highest probability of involvement in an M&A process to ensure the success of our sell-side operations.

The reports and deductions of our advisors provide a broad view of the sector, both geographically and from the complementary or adjacent markets perspective.
Technology Data Analytics
for M&A
Advanced data anlytics is a weapon". Intelfin is an artificial intelligence tool we use for investing and creating value in SMEs through competitive analytics and the enterprise environment.

IntelFin consists of a cognitive system, which, through the application of advanced analytical technologies, facilitates the automation of investment and financing decisions in the field of non-listed companies and especially SMEs in high-growth sectors.

The information related to these companies is characterized by their lack of transparency and heterogeneity; thus, it is necessary to develop an advanced analysis which is as much predictive as prescriptive and is developed in a natural language custom, suitable to obtain greater clarity and knowledge of the investment scope.

The IntelFin system focuses especially on analyzing the variables that define and influence the competitive environment of a sector and the positioning of a company, analyzing their influence on future value creation. Therefore, IntelFin supports strategic decision-making to senior management by resolving questions such as:

¿What are my competitors' priorities, strategies and expansion plans? Who's my competition? Which competitor is most likely to grow at a higher rate?
Which areas of activity/business models will receive the most investment? Which sectors are most attractive to investors?
Which companies are going to experience the most growth in the near future? Which companies are most likely to receive investment or be acquired?
Training Methodology
We have developed training programs in an innovative set-up which guarantees our teams the acquisition of technical competences both in the field of corporate finance and in the field of psychology, that is much needed when it comes to negotiation processes.

We have a culture of continuous improvement of our processes, closely related to the use of information systems that allow the enhancement of internal communication between our teams, as well as external communication with our customers. Hence, we extend best practices identified internally in an efficient and rapid manner among our members.

Are you one of those who prefer to be well informed when making decisions?