Logica, a Europe-based business and technology service provider, has acquired Grupo Gesfor, a privately held Spanish consulting and professional services company.
Through this acquisition, Logica will get access to Grupo Gesfor employees with strengths in areas including: security, business intelligence, HR consulting and enterprise content management.
In addition, Grupo Gesfor’s presence in Spain and operations across Latin America will support Logica’s wider client base, particularly its European clients already operating in these markets, and complement their existing presence in Iberia.
Logica will bring its capabilities in outsourcing, business consulting and global delivery to Grupo Gesfor’s blue chip Spanish clients, which include BBVA, Santander and El Corte Ingles.
Logica CEO Andy Green said that Spanish market is home to a number of major multinational companies and an important market for many of their existing European clients.
"Acquiring Grupo Gesfor supports our client intimacy strategy by extending our capabilities and presence to support clients as they grow in Spain and Latin America," Green said.
Logica said that the total consideration is expected to be up to €31.5m of which €24m will be paid in cash upon completion.
