Izertis is a company ICT which has completed the purchase of the companies BC Sistemas de Comunicación and the telecommunications and IT consultancy production unit belonging to the Canary Islands company Ositel.
The Information and Communication Technologies consultancy firm, Izertishas just completed its last two mergers and acquisitions:
- The company BC Communication Systems
- The Ositel's telecommunications and IT consultancy production unit
Thanks to these two shoppingIzertis reinforces its presence in the market of consulting and telecommunications equipment sales, installation, repair and maintenance.
Así mismo, también aporta importantes clientes del sector hotelero, como Meliá, Riu, Barceló, H10 and Lopesan.
IZERTIS' RIGHT OF PURCHASE EXERCISED OVER BC SISTEMAS
Specifically, Izertis has exercised its call option on 100% of the shares of BC Sistemas.
It has done so for a fixed acquisition price of one euro in cash and a variable one depending on future profits.
This variable part shall be paid in cash or in shares of Izertis, which shall choose in which of these two ways half of the variable part shall be paid.
The method of payment of the other 50% will be decided by the former partners of BC Sistemas.
With this acquisition, Izertis also assumes the debt of BC Sistemas for an amount of 1.76 million euros.
OSITEL'S PRODUCTION UNIT
On the other hand, Izertis has acquired Ositel's telecommunications and IT consultancy production unit.
The fixed price is almost 155,000 euros, and the variable price is linked to the performance of the business unit's Ebitda in 2020, with a limit of 75,000 euros.
The company has already paid the initial amount of 44,117.60 euros after the sale, but payments of 13,750 euros each, payable over 24 months, are still outstanding.
STRONG COMPANIES
It is worth mentioning that both acquired firms have been in business for more than 25 years, and have offices in Madrid, Barcelona and the Canary Islands.
BC Sistemas' group-wide revenues as of 31 December 2019 amounted to €4.4m, while Ositel's revenues amounted to €1.3m.
ESTABLISHMENT OF A DEVELOPMENT CENTRE
These mergers and acquisitions se unen a la constitución de Izertis Canarias SLU en la Zona Especial Canaria (ZEC).
A centre for the development of advanced services and R&D&I projects will be established there, which will provide support to the rest of the company's delegations.
This office will also serve as a support for business development in West Africa alongside the recently opened delegation in Cape Verde.
DIGITAL TRANSFORMATION
With operations in more than 50 countries, Izertis is consolidating its position in the technology market as one of the world's leading companies. global consulting firm helping companies and institutions in their digital transformation.
It is also currently listed on the Alternative Stock Market (MAB).
