- Visiant Galyleo is a leading IT services firm in Italy with revenues of € 36M last year
- The Spanish multinational acquires 77,5% of the Italian firm’s share capital with call option up to 100% during the next five years
- A 22, 5% will remain property of the firm’s main directors
Indra, the premier technology company in Spain and a leading IT multinational in Europe signed an agreement with the Visiant Group to acquire 100% of the shares of Italian Visiant Galyleo, an IT services leading company and a technological solutions supplier of the main companies in Italy. The acquisition reinforces Indra’s leadership in Europe where it is already present in the main markets.
The acquisition will take place in two stages: In this first stage Indra acquired 77.5% of Galyleo’s shares at an appraised value of 21 million Euros. In the second stage (first semester of 2016) Indra will acquire the remaining 22.5% for an amount which will depend upon the firm’s performance in 2015. This 22.5% in the mean time will remain property of the company’s main directors.
Indra has collaborated with Galyleo since 2009 for different clients. The firm employs 416 people and in 2010 sales amounted to 36 million Euros. It is headquartered in Rome and has offices in Milan and centres in Naples and Matera.
Diversification and business opportunities
Galyleo’s services have been mainly oriented to telecommunications, which will make up a 25% of the company’s sales in 2011. The company also operates in the Utilities and financial services segments. One of the main strategies of Galyleo is the provision of services to multinational clients with development potential mainly in the segments of Telecom, Media and Energy.
Indra’s broad experience and Galyleo’s knowledge and leadership in the Italian market will promote business opportunities and growth in the upcoming years.
International expansion and presence in Italy
The acquisition of the Italian firm is part of Indra’s growth strategy inside Europe, where it already is the first company in R&D investment in Information technologies. Indra is also present in Europe within the sectors of air traffic management, ticketing systems and in the electoral processes of different countries. It participates in the Eurofighter, collaborates with the European defense aircraft, and has centres of Excellence and Software Labs in Eastern Europe.
The Spanish company has been present in Italy for over 20 years with representative projects for important clients in the segment of energy, specifically in the management of system applications; as well as in telecommunications and defence.
In 2008, Eurofighter Simulation Systems (ESS) awarded Indra a contract to prepare the production of the new simulators destined to the four central countries of the programme, Italy among them. Regarding defence, Indra carried out simulation projects for the Italian Navy and last year it was commissioned the implementation of its electronic defence systems on the new U212 submarines of the Italian Navy.
Indra is the premier technology company in Spain and one of the leading technology multinationals in Europe and Latin America. It is ranked as the second European company in its sector according to investment in R&D with nearly € 500 M during the last three years. In 2010 revenues reached € 2,557 M of which a 40% came from the international market. The company employs more than 31,000 professionals and has clients in more than 110 countries.
- 501.5 KB