The technology mergers and acquisitions market in Spain has evolved throughout 2025 toward a more strategic, disciplined approach focused on long-term value creation. Within the Tech M&A ecosystem, the EdTech segment has been particularly representative of current dynamics in the buying and selling of technology companies: sector consolidation, platform building through successive acquisitions, and the growing prominence of private capital.
From the perspective of M&A advisors specialized in technology, the transactions announced during the year reflect a clear shift: fewer speculative deals and more transactions designed to integrate assets, improve margins, and scale replicable models.
The analysis of the main EdTech acquisitions in Spain during 2025 makes it possible to identify key trends that are redefining the buying and selling of technology companies in the domestic market.
Educational technology becomes established in 2025
Investor interest in the technology-driven education sector is driven by several structural factors that make it a natural arena for buying and selling transactions:
- Structural demand linked to continuing education, educational digitization, and professional retraining.
- Scalable models based on online platforms or replicable networks of centers.
- Potential for operational improvement through commercial professionalization and optimization of customer acquisition.
- Opportunities for consolidation in fragmented sectors.
During 2025, private equity established itself as the main driver of inorganic growth in technology education, promoting buy & build strategies and acquisitions aimed at building leading platforms.
You can read more about this type of strategy in the How To Buy & Build Strategy: What It Is and How It Works from our M&A Academy.
Building educational platforms through acquisitions
Ufenau Capital Partners buys DEPOL, Geopol, and Corporepol (January 2025)
The acquisition of DEPOL, Geopol, and Corporepol exemplifies a classic platform-building strategy in a highly fragmented niche. The investor's goal was to create a leading structure by integrating methodologies, educational technology, and recruitment systems.
Los activos adquiridos aportaban reputación, base de alumnos y contenido formativo acumulado, elementos clave para crear barreras de entrada y escalar posteriormente mediante adquisiciones adicionales. Este tipo de operaciones refleja cómo la compra de empresas tecnológicas o educativas puede utilizarse para consolidar mercados locales y acelerar el crecimiento.
Jacobs Holding (vía Ilerna): buy and build en formación profesional y educación superior (abril y mayo de 2025)
El grupo Ilerna protagonizó una estrategia clara de crecimiento mediante adquisiciones sucesivas.
La compra de Bilbao Formación permitió reforzar presencia geográfica y ganar capacidad operativa local, reduciendo costes de entrada en nuevos mercados. Posteriormente, la autorización para adquirir Universidad Isabel I amplió el perímetro hacia educación superior, incrementando ticket medio y posibilidades de oferta online.
Desde una perspectiva Tech M&A, esta estrategia demuestra cómo los inversores utilizan adquisiciones complementarias para ampliar catálogo, optimizar estructuras operativas y construir plataformas educativas integradas.
Magnum Capital (vía Digitalent Group): consolidación en formación tecnológica corporativa (junio y septiembre de 2025)
Digitalent Group ejecutó una estrategia de crecimiento inorgánico mediante la adquisición de Progresa y Formadores IT. La primera permitió reforzar su posicionamiento en formación profesional, mientras que la segunda consolidó su presencia en formación tecnológica corporativa, un segmento especialmente atractivo por su recurrencia y relación directa con empresas.
The transactions generated commercial and operational synergies, facilitating cross-selling between customer bases and methodological standardization. This type of deal illustrates how acquiring technology companies can help build critical mass in niches with structural demand.
Higher education as a strategic asset in large-scale operations
Cinven, together with Mubadala and its founder, agree to buy Universidad Alfonso X El Sabio for approximately €2 billion (October 2025)
The acquisition of a majority stake by a consortium led by Cinven and Mubadala represents one of the most significant transactions of the year in the education sector. The investment thesis focused on controlling a large-scale asset with international expansion capacity and growth potential for the hybrid model.
This type of transaction reflects the growing interest of private capital in institutional assets that are large enough to absorb technological investments and improve operational efficiency. It also illustrates the usual rotation between funds following phases of professionalization and growth.
Proeduca: a year of corporate changes (February, May, and July 2025)
The Proeduca case shows how private capital structures complex transactions in established technology companies. During 2025, there were multiple developments: investors entering through significant shareholdings, a public delisting offer, and syndicated investments to finance growth.
The strategic objective was to strengthen expansion capacity, improve operational execution, and provide the company with strategic flexibility outside the public market. For technology M&A advisors, this example demonstrates the evolution toward more sophisticated financial structures in scalable digital educational assets.
Consolidation through industrial acquisitions: combining expertise, geographic reach, and product catalog
In addition to the large platforms, 2025 was marked by numerous smaller transactions that responded to clear industrial strategies.
Growth Partners Capital invests in Grupo Aspasia (July 2025), which acquires FiveStars Fitness (December 2025).
Growth Partners Capital acquired 25% of Grupo Aspasia with the aim of funding growth and professionalization, including options for future acquisitions. Meanwhile, the acquisition of FiveStars Fitness represented an investment to expand the catalog, strengthen the digital component, and capture synergies in customer acquisition and distribution.
Baker Tilly acted as exclusive financial advisor to FiveStars Fitness in the sale process with Grupo Aspasia. You can read all the transaction details here. This pattern (capital injection + subsequent acquisitions) is typical when aiming to accelerate an inorganic growth strategy.
Relevian and Aurica Capital acquire 80% of Hispania (November 2025)
The objective of the acquisition was to strengthen a Spanish language education platform with capacity for expansion and commercial improvement. This led to an increase in the student database and improved positioning in Valencia.
Oquendo Capital co-invests in Grupo Educare (November 2025) following prior control by Swiss Life Asset Managers
This action strengthened the shareholding structure for a phase of growth and professionalization of the organization. It also helped improve the management of educational centers, the operational basis on which to apply efficiency and growth.
Other notable transactions included the acquisition of Seganosa by Securtraining to strengthen emergency training, the purchase of Agorastur Formación by Kimun Grupo Unendo, and the acquisition of Academia Métodos by Versus e-learning.
These transactions reflect a clear trend: progressive consolidation through selective acquisitions not only increases revenue, but also allows for expanded distribution, reduced unit costs, and strengthened positioning in specific niches.
Educational technology as a cross-cutting strategic capability
Some operations showed how training is integrated as a strategic tool within broader business models.
Icono (controlled by Signpost) acquires CampusPDI (October 2025)
CampusPDI provides interactive whiteboards, audiovisual equipment, software licenses, and digital classroom solutions.
The goal was to integrate offerings and gain scale in the supply and deployment of digital classrooms, leveraging purchasing, logistics, support, and relationships with schools. This allowed us to expand our product portfolio, strengthen relationships with schools, and increase our capacity to execute turnkey projects.
Here, educational technology is seen more as classroom infrastructure and a channel to educational centers.
AlterHome acquires Alter School (April 2025)
AlterHome acquired Alter School to train professionals linked to its core business. The goal was to make training a driver of growth for the core business (creating a network of collaborators and improving operational quality). As a result, they were able to combine a training platform and vertical content with the capacity to scale a community.
European Flyers consolidated pilot training through the acquisition of Aerotec, and Cámara Valencia incorporated Mediterráneo Culinary Center to strengthen professional training in hospitality.
These operations demonstrate how educational technology becomes a strategic asset for improving processes, ensuring operational quality, and building ecosystems around the core business.
The role of venture capital versus private equity in EdTech M&A
Although venture capital remained active in the early stages of the EdTech ecosystem—especially in digital learning tools, educational analytics, and automation—the bulk of transactions during 2025 were dominated by private equity and corporate acquisitions.
The ability to integrate companies, standardize processes, and execute consolidation strategies positioned private equity as a key player in transformational deals.
Conclusion in 2025: the rise of EdTech in the sale and purchase of technology companies
An analysis of EdTech transactions in Spain during 2025 clearly shows the current dynamics of Tech M&A:
- Building platforms through successive acquisitions.
- Accelerated consolidation in fragmented sectors.
- The growing role of private capital as an architect of growth.
- Large-scale operations in higher education with rotation between funds.
- Integration of training as a cross-cutting strategic capability.
For companies considering the purchase or sale of technology companies, the education sector offers a clear example of how strategy, operational integration, and discipline in execution determine the success of transactions.
In an increasingly competitive and sophisticated environment, having M&A advisors specialized in technology is essential to structure efficient processes, maximize value, and execute transactions aligned with strategic growth objectives.