{"id":69108,"date":"2026-01-09T16:35:08","date_gmt":"2026-01-09T15:35:08","guid":{"rendered":"https:\/\/techma.bakertilly.es\/?p=69108"},"modified":"2026-02-19T13:12:38","modified_gmt":"2026-02-19T12:12:38","slug":"analysis-edtech-transactions-spain-2025","status":"publish","type":"post","link":"https:\/\/techma.bakertilly.es\/en\/analisis-transacciones-edtech-espana-2025\/","title":{"rendered":"Analysis of the Main EdTech Transactions in Spain in 2025"},"content":{"rendered":"<p class=\"translation-block\">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&amp;A ecosystem, the <a href=\"https:\/\/techma.bakertilly.es\/en\/companies\/edtech\/\" target=\"_blank\" rel=\"noreferrer noopener\">EdTech segment<\/a> 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.<\/p>\n\n\n\n<p>From the perspective of M&amp;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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"La_tecnologia_educativa_se_consolida_en_2025\"><\/span>Educational technology becomes established in 2025<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>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:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Structural demand linked to continuing education, educational digitization, and professional retraining.<\/li>\n\n\n\n<li>Scalable models based on online platforms or replicable networks of centers.<\/li>\n\n\n\n<li>Potential for operational improvement through commercial professionalization and optimization of customer acquisition.<\/li>\n\n\n\n<li>Opportunities for consolidation in fragmented sectors.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">During 2025, private equity established itself as the main driver of inorganic growth in technology education, promoting <em>buy &amp; build<\/em> strategies and acquisitions aimed at building leading platforms.<\/p>\n\n\n\n<p class=\"translation-block\">You can read more about this type of strategy in the How To <em><a href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/buy-build-strategy-what-it-is\/\" target=\"_blank\" rel=\"noreferrer noopener\">Buy &amp; Build Strategy: What It Is and How It Works<\/a><\/em> from our <a href=\"https:\/\/techma.bakertilly.es\/en\/how-to-2\/\" target=\"_blank\" rel=\"noreferrer noopener\">M&amp;A Academy<\/a>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Construccion_de_plataformas_educativas_mediante_adquisiciones\"><\/span>Building educational platforms through acquisitions<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading translation-block\"><span class=\"ez-toc-section\" id=\"Ufenau_Capital_Partners_buys_DEPOL_Geopol_and_Corporepol_January_2025\"><\/span>Ufenau Capital Partners <strong>buys DEPOL, Geopol, and Corporepol<\/strong> (January 2025)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Los activos adquiridos aportaban reputaci\u00f3n, 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 c\u00f3mo la compra de empresas tecnol\u00f3gicas o educativas puede utilizarse para consolidar mercados locales y acelerar el crecimiento.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Jacobs_Holding_via_Ilerna_buy_and_build_en_formacion_profesional_y_educacion_superior_abril_y_mayo_de_2025\"><\/span>Jacobs Holding (v\u00eda Ilerna): <strong>buy and build en formaci\u00f3n profesional y educaci\u00f3n superior (abril y mayo de 2025)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>El grupo Ilerna protagoniz\u00f3 una estrategia clara de crecimiento mediante adquisiciones sucesivas.<\/p>\n\n\n\n<p>La compra de Bilbao Formaci\u00f3n permiti\u00f3 reforzar presencia geogr\u00e1fica y ganar capacidad operativa local, reduciendo costes de entrada en nuevos mercados. Posteriormente, la autorizaci\u00f3n para adquirir Universidad Isabel I ampli\u00f3 el per\u00edmetro hacia educaci\u00f3n superior, incrementando ticket medio y posibilidades de oferta online.<\/p>\n\n\n\n<p>Desde una perspectiva Tech M&amp;A, esta estrategia demuestra c\u00f3mo los inversores utilizan adquisiciones complementarias para ampliar cat\u00e1logo, optimizar estructuras operativas y construir plataformas educativas integradas.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Magnum_Capital_via_Digitalent_Group_consolidacion_en_formacion_tecnologica_corporativa_junio_y_septiembre_de_2025\"><\/span>Magnum Capital (v\u00eda Digitalent Group): consolidaci\u00f3n en formaci\u00f3n tecnol\u00f3gica corporativa <strong>(junio y septiembre de 2025)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Digitalent Group ejecut\u00f3 una estrategia de crecimiento inorg\u00e1nico mediante la adquisici\u00f3n de Progresa y Formadores IT. La primera permiti\u00f3 reforzar su posicionamiento en formaci\u00f3n profesional, mientras que la segunda consolid\u00f3 su presencia en formaci\u00f3n tecnol\u00f3gica corporativa, un segmento especialmente atractivo por su recurrencia y relaci\u00f3n directa con empresas.<\/p>\n\n\n\n<p class=\"translation-block\">The transactions generated commercial and operational synergies, facilitating <em>cross-selling<\/em> 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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Educacion_superior_como_activo_estrategico_en_operaciones_de_gran_escala\"><\/span>Higher education as a strategic asset in large-scale operations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading translation-block\"><span class=\"ez-toc-section\" id=\"Cinven_with_Mubadala_and_founder_agree_to_buy_Universidad_Alfonso_X_El_Sabio_for_approximately_2_billion_euros_October_2025\"><\/span><strong>Cinven, together with Mubadala and its founder, agree to buy Universidad Alfonso X El Sabio for <strong>approximately \u20ac2 billion<\/strong> (October 2025)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Proeduca_ano_de_movimientos_corporativos_febrero_mayo_y_julio_de_2025\"><\/span><strong>Proeduca: a year of corporate changes (February, May, and July 2025)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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&amp;A advisors, this example demonstrates the evolution toward more sophisticated financial structures in scalable digital educational assets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Consolidacion_mediante_adquisiciones_industriales_sumando_especializacion_geografias_y_catalogo\"><\/span>Consolidation through industrial acquisitions: combining expertise, geographic reach, and product catalog<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In addition to the large platforms, 2025 was marked by numerous smaller transactions that responded to clear industrial strategies.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Growth_Partners_Capital_invierte_en_Grupo_Aspasia_julio_de_2025_y_este_adquiere_FiveStars_Fitness_diciembre_de_2025\"><\/span>Growth Partners Capital invests in Grupo Aspasia (July 2025), which acquires FiveStars Fitness (December 2025).<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"translation-block\">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 <strong>FiveStars Fitness<\/strong> represented an investment to expand the catalog, strengthen the digital component, and capture synergies in customer acquisition and distribution.<\/p>\n\n\n\n<p class=\"translation-block\">Baker Tilly acted as <strong>exclusive financial advisor to FiveStars Fitness in the sale process with Grupo Aspasia<\/strong>. You can read all the transaction details <a href=\"https:\/\/techma.bakertilly.es\/en\/grupo-aspasia-acquires-fsf-world-group-fivestars-fitness\/\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>. This pattern (capital injection + subsequent acquisitions) is typical when aiming to accelerate an inorganic growth strategy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Relevian_y_Aurica_capital_adquieren_el_80_de_Hispania_noviembre_de_2025\"><\/span>Relevian and Aurica Capital acquire 80% of Hispania (November 2025)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>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.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Oquendo_Capital_coinvierte_en_Grupo_Educare_noviembre_de_2025_tras_el_control_previo_de_Swiss_Life_Asset_Managers\"><\/span><strong>Oquendo Capital co-invests in Grupo Educare (November 2025) following prior control by Swiss Life Asset Managers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>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.<\/p>\n\n\n\n<p class=\"translation-block\">Other notable transactions included the <strong>acquisition of Seganosa by Securtraining<\/strong> to strengthen emergency training, the <strong>purchase of Agorastur Formaci\u00f3n by Kimun Grupo Unendo<\/strong>, and the <strong>acquisition of Academia M\u00e9todos by Versus e-learning<\/strong>.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Tecnologia_educativa_como_capacidad_estrategica_transversal\"><\/span>Educational technology as a cross-cutting strategic capability<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Some operations showed how training is integrated as a strategic tool within broader business models.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Icono_controlada_por_Signpost_absorbe_CampusPDI_octubre_de_2025\"><\/span><strong>Icono (controlled by Signpost) acquires CampusPDI (October 2025)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>CampusPDI provides interactive whiteboards, audiovisual equipment, software licenses, and digital classroom solutions.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Here, educational technology is seen more as classroom infrastructure and a channel to educational centers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"AlterHome_adquiere_Alter_School_abril_de_2025\"><\/span><strong>AlterHome acquires Alter School (April 2025)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>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.<\/p>\n\n\n\n<p class=\"translation-block\"><strong>European Flyers<\/strong> consolidated pilot training through the <strong>acquisition of Aerotec<\/strong>, and <strong>C\u00e1mara Valencia incorporated Mediterr\u00e1neo Culinary Center<\/strong> to strengthen professional training in hospitality.<\/p>\n\n\n\n<p>These operations demonstrate how educational technology becomes a strategic asset for improving processes, ensuring operational quality, and building ecosystems around the core business.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"El_papel_del_capital_riesgo_frente_al_capital_privado_en_EdTech_M_A\"><\/span>The role of venture capital versus private equity in EdTech M&amp;A<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Although venture capital remained active in the early stages of the EdTech ecosystem\u2014especially in digital learning tools, educational analytics, and automation\u2014the bulk of transactions during 2025 were dominated by private equity and corporate acquisitions.<\/p>\n\n\n\n<p class=\"translation-block\">The ability to integrate companies, standardize processes, and execute consolidation strategies positioned <a href=\"https:\/\/techma.bakertilly.es\/en\/como-hacer\/what-is-private-equity-ss-a2\/\" target=\"_blank\" rel=\"noreferrer noopener\">private equity<\/a> as a key player in transformational deals.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion_en_2025_el_auge_de_la_EdTech_en_la_compraventa_de_empresas_tecnologicas\"><\/span>Conclusion in 2025: the rise of EdTech in the sale and purchase of technology companies<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>An analysis of EdTech transactions in Spain during 2025 clearly shows the current dynamics of Tech M&amp;A:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Building platforms through successive acquisitions.<\/li>\n\n\n\n<li>Accelerated consolidation in fragmented sectors.<\/li>\n\n\n\n<li>The growing role of private capital as an architect of growth.<\/li>\n\n\n\n<li>Large-scale operations in higher education with rotation between funds.<\/li>\n\n\n\n<li>Integration of training as a cross-cutting strategic capability.<\/li>\n<\/ul>\n\n\n\n<p class=\"translation-block\">For companies considering the purchase or <a href=\"https:\/\/techma.bakertilly.es\/en\/sale-of-companies\/\" target=\"_blank\" rel=\"noreferrer noopener\">sale of technology companies<\/a>, the education sector offers a clear example of how strategy, operational integration, and discipline in execution determine the success of transactions.<\/p>\n\n\n\n<p class=\"translation-block\">In an increasingly competitive and sophisticated environment, <strong>having M&amp;A advisors specialized in technology is essential<\/strong> to structure efficient processes, maximize value, and execute transactions aligned with strategic growth objectives.<\/p>","protected":false},"excerpt":{"rendered":"<p>El mercado de fusiones y adquisiciones tecnol\u00f3gicas en Espa\u00f1a ha evolucionado durante 2025 hacia un enfoque m\u00e1s estrat\u00e9gico, disciplinado y orientado a la creaci\u00f3n de valor a largo plazo. Dentro del ecosistema Tech M&amp;A, el segmento EdTech ha sido especialmente representativo de las din\u00e1micas actuales en la compraventa de empresas tecnol\u00f3gicas: consolidaci\u00f3n sectorial, construcci\u00f3n de [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":69208,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[222],"tags":[],"sectores":[2218],"tipo-contenido":[2260],"class_list":["post-69108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-adquisiciones","sectores-edtech","tipo-contenido-noticias"],"acf":[],"_links":{"self":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/69108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/comments?post=69108"}],"version-history":[{"count":3,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/69108\/revisions"}],"predecessor-version":[{"id":69178,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/posts\/69108\/revisions\/69178"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media\/69208"}],"wp:attachment":[{"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/media?parent=69108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/categories?post=69108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tags?post=69108"},{"taxonomy":"sectores","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/sectores?post=69108"},{"taxonomy":"tipo-contenido","embeddable":true,"href":"https:\/\/techma.bakertilly.es\/en\/wp-json\/wp\/v2\/tipo-contenido?post=69108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}