French software and services heavyweight Gfi Informatique claims it has nigh on doubled its Iberian revenue through acquiring two firms in the space of four days.
Gfi Informatique has revealed its intentions to buy Roff Group, an 800-employee-strong Portuguese Gold SAP partner expecting to hit revenues of €60m in 2016. The firm claims that half of its sales are generated through foreign clients in Switzerland, France, northern Europe, Morocco and Latin America.
Vincent Rouaix, CEO of Gfi, said: "With Roff and the support of its executive leadership, Gfi is significantly strengthening its integration and maintenance offering around SAP technologies. By combining the unique positioning of Roff in the competitive landscape and coverage of major European accounts operated by Gfi, our group has major ambitions in this market. This expertise also strengthens our offering of solutions for new growth markets, such as Latin America and MEA."
The Saint-Ouen-headquartered firm also bought Madrid-based consulting outfit Efron last Friday. Efron – which expects to turn over €37m this year – works with vendors including HP, Oracle, and Microsoft. The firm employs 750 staff in Madrid and Barcelona, as well as overseas in Mexico City, Colombian cities Bogota and Medellin, and Boston in the US.
Gfi claims that more than €30m of Efron's revenue comes from its business in its home country.
The acquisitions aim to strengthen Gfi's position in "key sectors" such as banking, insurance and healthcare, as well as accelerating growth internationally, which Gfi kick-started through selling its majority share to Qatari conglomerate Mannai Corporation last year.
Translated from the original Spanish, CEO of Efron Consulting Fernado Herrero said: "[We are beginning] a new era full of opportunities, as part of a major international project in which we can continue to contribute as we have done so far."
With the combined clout of both Efron and Roff, Gfi claims it has almost doubled its Iberian revenues to more than €200m, and that the deal "opens doors" to the Americas, adding €12m in sales to Brazil, Mexico and Colombia.
The news of Gfi's acquisition of Efron was joined by the release of its third-quarter revenue figures. Gfi posted a 10.4 per cent overall sales growth and 7.6 per cent organic growth year over year, as revenue grew from €209.3m to €231.1m.
Its native French business saw overall sales swell year on year by 8.1 per cent and organically by 7.4 per cent to €192.3m.
Gfi's international business – which surged through its deal with Efron – has seen a 23.6 per cent reported sales growth to €38.8m and an organic growth of 8.7 per cent.
CEO Rouaix said: "It was a very good quarter for Gfi Informatique. The acquisition of Efron will significantly strengthen the group's position with major Spanish customers and enable it to accompany them in other regions, particularly South America."
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