Telefónica consolidates in the German market with the purchase of the German company BE-terna for 350 million

ABCMADRID Updated:05/09/2022 09:20h
Save
Related news

telephone,
through its subsidiary Telefónica Tech
has reached an agreement with certain investment funds managed by Deutsche Private Equity GmbH (and other sellers) for the acquisition of 100% of the shares of the German technology BE-terna Group for an amount of up to 350 million euros, including possible variable remuneration ('earn-outs').

With this acquisition, Telefonica Tech consolidates itself in a strategic market for the Telefónica Group such as Germany, while incorporating a growth platform in new relevant markets in Europe, as reported this Monday to the National Securities Market Commission (CNMV). ).

BE-terna Group is a business group dedicated mainly to providing advanced solutions in the cloud for the digital transformation of companies, being Microsoft's 'gold partner'.

In 2021, it reached €121 million in proforma revenue through its operations in, among other markets, Germany, Austria, Switzerland and Denmark.

Telefónica has specified that the valuation of the operation implies a multiple of 13.7 EV/Oibda post-synergies and based on its expected results for the 2022 financial year.

The closing of the operation is subject to authorization by the competition authority in Germany (Bundeskartellamt).

View commentsTopics

Source link