UK mobile financial services company Vipera has acquired Spain's SoftTelecom Desarrollos I Mas D (SoftTelecom), which specialises in software solutions for banking customers, for €1.3 million.
About Vipera
Founded in 2005, Vipera is a provider of mobile financial services and digital consultancy. The UK-based company has offices in Zurich, Milan and London, focusing on the intersection of mobile technology, mobile commerce and digital marketing.
The company achieved a turnover of €7.9M in 2016, and its financial software solutions manage more than one million applications for major banks and retailers worldwide.
About SoftTelecom
SoftTelecom is a Spanish company founded in 2005 and headquartered in Madrid. The company develops software solutions for customers in banking, payment service providers, including real-time payments and telecommunication fields with solutions mainly focused on payment technology and point of sale development.
The company has clients in Spain, the Netherlands and the UK. With a team of 20 employees, in 2016 it achieved a turnover of €728,000 and an Ebitda of €221,000. The Spanish company is also experiencing strong growth, with high levels of profitability and a good financial situation.
Vipera buys SoftTelecom
Vipera, a UK-based mobile financial services provider, has completed the €1.3 million acquisition of Spanish technology solutions provider SoftTelecom.
Encouraged by the strong growth of SoftTelecom, Vipera has decided to make the acquisition in order to strengthen its sales in the Spanish market and expand its product development in areas such as PSD2 and block solutions. The sale of SoftTelecom coincides with the retirement of its main owner.
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