The French multinational is seeking to enter the Latin American market and strengthen its position in the banking and insurance sector.
Gfi buys Efron Consulting
We are once again seeing another purchase operation in the outsourcing sector, if a few days ago we told you that Konecta had bought Allus Global, This week it is the turn of the multinational company GFi, which has bought the Spanish company Efron Consulting, for an undisclosed price.
"With this acquisition, the GFI Group aims to strengthen its strategic position in the financial (mainly banking and insurance) and health sectors, maintain the organic growth rate it has been registering for years, and expand in Latin America and the United States, something that has accelerated since the incorporation of Mannai Corporation as a shareholder." Says Diego Guitierrez, corporate finance expert at Abra-Invest.
About Efron Consulting
Efron Consulting is a Consulting, Technology and Outsourcing company, which currently has more than 700 professionals working on national and international projects in the Financial, Healthcare, Telecommunications, Industry and Public Administration Sectors, with offices in Spain (Madrid and Barcelona), the United States (Boston), Colombia (Bogota and Medellin) and Mexico (Mexico DC and Santiago de Queretaro).
Founded in 2009, it has always followed a growth strategy. In 2011 it decided to make the leap to Latin America and entered Mexico, buying two local companies, in 2012 it entered the USA and in 2013 it bought the Colombian company Consult Soft, dedicated to consultancy specialising in the financial environment and experts in Oracle solutions, and its North American subsidiary CS Corp.
In 2015 Efron Consulting had a turnover in Spain of 28.7 million euros, almost 6% more than the previous year. And for this year it intends to reach 30 million euros.
About GFI, growing in the international market
The group GFI is a French multinational company, listed on the Paris stock exchange, providing consulting, outsourcing and systems integration services in Information Technology, which is experiencing rapid growth.
Group revenue in 2015 was €894m, up 11.2% compared to 2014, and for 2016 this trend looks set to continue. Group revenue for the first half of 2016 was €502.1 million, an increase of 14.9% compared to the same period last year.
Although the majority of its revenues come from Paris (85%), in recent years it has been making a great effort to grow internationally. In the Iberian Peninsula, turnover was €56M, which compared to €47.2M in 2015 represents an increase of 18.8%.
The group is currently undergoing a process of expansion, through acquisitions. In 2015, GFI acquired IMPAQ, a company with a broad portfolio of IT services and software development with a presence in Poland, Switzerland and the UK. With this purchase, the company expanded into Eastern Europe and strengthened its portfolio of proprietary solutions.
In addition to Efront has also just announced the acquisition of the Roff Group, a Portuguese company offering SAP implementation and maintenance services. France's Novulys, a specialist in Microsoft CRM solutions, has also joined the group.
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