French BPO solutions provider Tessi wants to continue growing in the Spanish market and has started 2016 with the purchase of Spanish companies, first Diagonal Company and then BPO Solutions.
The BPO market
As we already told you in a previous post, , the BPO market is a highly fragmented market where growth requires mergers and acquisitionsIn the last year we have seen a number of private equity and corporate transactions in the sector, such as the purchase of Digitex by Carlyle the purchase of the Peruvian Tgestiona for IBM o purchases made by the Spanish company Konecta de Jazzplat and the Banco Popular's call centre.
Tessi buys Diagonal Company
Diagonal Companybased in Barcelona, is one of the leaders in Spain, Portugal and Chile in advanced financial services, with a staff of 1,205 employees, of which 23 % work outside the Iberian Peninsula.
This operation enabled Tessi to take a major leap forward in Spain, Portugal and Latin America and aspire to become a major partner of the largest financial institutions, real estate platforms, insurance companies and large corporations.
The deal was announced weeks after Tessi acquired a Swiss BPO company with sales of €17.2m in 2015.
Tessi buys BPO Solutions
BPO Solutions is dedicated to the outsourcing of business processes for financial institutions, the communications and insurance sectors, mainly in the field of contact centres and CRM (Customer Relationship Management). With 280 employees, the acquired company is headquartered in Madrid and achieved a turnover of 6.1 million euros last year.
About Tessi
In 2015, Tessi reached a turnover of 290 million, an increase of 17.4% compared to the previous year. The group's organic growth was 9.8%, while the rest was driven by the acquisitions in 2014 of the Swiss company Gdoc (with a subsidiary in Madrid) and the Spanish company Graddo, both, the company's press release notes, "with very positive developments in 2015 (+8% and +40.5% respectively)".
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