French IT services company Transiciel SA has paid an unspecified sum for two of its counterparts in Spain; Seinto from Madrid and Sysdata from Barcelona. Paris-based Transiciel’s operations comprise systems and network management, ERP consultancy and implementations, systems integration and outsourcing, and the companies acquired give it both coverage of Spain’s two main markets and a range of skills that complement its own.
Seinto specializes in object-oriented technologies, data warehousing, data mining, intranets and document management, as well as Peoplesoft implementations. Sysdata is in application development, workflow, data warehousing, help desks, call centers and implementations of SAP, Ross Systems and Baan.
Transiciel said the two combined saw net profit of 2.4m euros ($2.6m) on revenues of 23.2m euros ($25.1m) in 1998. Both are predominantly in the banking and insurance markets, which represented 50% of Siento’s revenues and 72% of Sysdata’s in 1998.
The acquisitions represent Transiciel’s first expansion outside France. The company announced, however, that it intends to make more, as well as seeking out potential acquisitions within France. Transiciel has been quoted on the Second Marche since March of last year and reported a net profit up 172% at 12.6m euros ($13.6m) on revenue up 73% at 153m euros ($165.8m).
