through its subsidiary Telefónica Techhas 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).