AURELIUS acquires Spanish IT consulting company Steria Iberica
- Second foothold for AURELIUS in the Spanish market
- Seller Steria concentrates on its core markets
- Crises offer good opportunities for buying
Munich (Germany), October 23, 2012 – Munich-based AURELIUS Group (ISIN: DE000A0JK2A8) will acquire the Spanish IT consulting company Steria Iberica. The divestment is part of French Steria Groups´ strategy to concentrate on its core markets. Steria Iberica is a renowned player on the Spanish IT services market for private customers as well as public institutions. The company offers a range of state-of-the-art IT services which include integrated solutions for application management, system integration, infrastructure management as well as testing and quality assurance. Besides connectis Spain (former Thales CIS) Steria Iberica is the second IT company in the AURELIUS portfolio operating on the Spanish market. Group revenues of AURELIUS in the IT services business will increase to over 600 million euros. The company based in Madrid (Spain) has generated 42 million euros in revenues in 2011 and currently employs approximately 900 staff members at seven locations throughout Spain. The purchase price will not be disclosed.
The Group Steria is a leading provider of IT-enabled business services working across 16 countries. The company is listed on the Paris stock exchange and has generated revenues of 1.75 billion euros in 2011. The divestment of its Spanish IT consulting business is part of Sterias strategy to concentrate on its core markets.
“Our new subsidiary Steria Iberica has profound knowledge of business processes in the private and public sector in Spain,” said Dr. Dirk Markus, CEO of AURELIUS. „Steria Iberica is maintaining excellent relations and an extensive know-how in the field of outsourcing. We have found a further very interesting company on the Spanish market that fits perfectly into our portfolio.”
AURELIUS is well-known for its growth-oriented strategies when taking over spin-offs of large conglomerates. AURELIUS has established a global presence and focuses on the acquisition of companies with development potential through operational engagement.
„We are acquiring companies as a long-term investment,” said Dr. Markus. „Especially the present situation in southern Europe - whilst challenging, also offers some interesting opportunities for investment.” Through the acquisition of Steria Iberica AURELIUS will strengthen its activities in the future market of IT consulting and outsourcing.