VAR GROUP FURTHER EXPANDS ITS PRESENCE ABROAD, IN THE IBERIAN MARKET

 

Empoli (FI), September 11, 2024

Sesa (“SESA” – SES.MI), reference player in technological innovation and digital services for the business segment, with about Eu 3.2 billion in consolidated revenues and 5,700 employees, has acquired through Var Group S.p.A. (wholly owned subsidiary of Sesa) the entire share capital of Boot Systems SL (“Boot Systems”) and LBS Serveis SL (“LBS”), strengthening its expertise in the professional consulting and Cloud Computing sector in the Spanish market.

Boot Systems, based in Barcelona and active in the Spanish market, and LBS, operating in the Andorran market, are companies specialized in offering professional consultancy and solutions in the Cloud Computing and Data Center area, with a focus on Oracle and Dell technologies and around 20 skilled resources. The two companies, jointly, have developed revenues of about Eu 5.5 mn and an Ebitda of about Eu 400 thousand in the Financial Year 2023, with sustainable future growth targets.

The partnership is executed through Var Group España, a subsidiary of Var Group S.p.A., and comes in addition to the recent acquisition of Wise Security Global, a leading operator in the Iberian market in the Cyber Security and Digital Identity segment. Sesa Group, thanks to this operation, continues to expand its expertise and activities abroad, reaching a size of about Eu 30 mn in revenues and 200 specialized human resources in the Spanish market.

The acquisition has been closed on evaluation criteria in line with those usually adopted by Sesa Group, with the operative and long-term involvement of the Managing Partners and founders of Boot Systems and LBS, César Lacorte Martinez and Alberto Barros Villa, sharing medium-term objectives of sustainable growth of skills and specializations at international level.

The partnership is part of the Sesa Group's strategy of investing in the development of vertical digital competencies in strategic areas for the digitalization of companies and organizations, also at international level.

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“With the acquisition of Boot Systems and LBS Serveis we further strengthen our international presence, supporting the digital transformation of companies in the Iberian Peninsula market. We consolidate our competence hub with the aim of enabling the digitalization of companies and organizations while ensuring the protection of corporate data. We welcome the Boot Systems and LBS Serveis team, which enriches us with qualified skills in the Cloud and Data Center segment, with a focus on innovative technologies”, stated Francesca Moriani, CEO of Var Group and Gorka Jimenez, Managing Partner of Var Group España.

“We are pleased to join Sesa Group and the Var Group organization; the business combination will allow us to accelerate the growth of vertical competences for the benefit of our customers, strengthening our expertise and expanding our market offer”, stated César Lacorte Martinez and Alberto Barros Villa, Managing Partners of Boot Systems and LBS Serveis.

“We expand our international growth path, with the aim of developing coverage of the main economic districts in Central and Western Europe. We are pleased to welcome the human resources of Boot Systems and LBS Serveis into the Group, in order to enhance their expertise and further enrich our offering in the Iberian Peninsula. We will continue to boost our industrial development through bolt-on M&A, with objectives of sustainable and long-term value generation for our stakeholders”, stated Alessandro Fabbroni, CEO of Sesa.