THIRD ACQUISITION IN SPAIN IN LESS THAN THREE YEARS
The Italian group buys the Madrid Atm DOS, which works for local entities
As reported by Il Sole 24 Ore, the most important economic news daily in Italy, the Italian Group’s internationalization plan takes shape.
Three acquisitions in Spain in less than three years, the last two weeks ago and an imminent opening in Colombia to cover the Latin American area: this is how the Maggioli Group’s internationalization plan was defined, which began in Santarcangelo di Romagna at the beginning of the century XX as a supplier of equipment for public administration and that has become in a century of activity one of the largest Italian reference companies for the digital transformation of public, professional and corporate entities.
A reality that last year billed between the publishing business, computer, forms, accounting, training and technology services, 140 million euros with a team of 1,900 employees and now begins the conquest of international markets in order to reach 30 % of business abroad before 2022.
«The operations in the Latin markets are just a starting point of our international development plan. We have already identified other possibilities of acquisitions in the Iberian area and we are studying openings in new markets, taking advantage of the leadership position we have achieved in terms of the vastness of the catalog of services and IT for Public Administration,” anticipates CEO Paolo Maggioli, which is preparing to launch before the first week of July in Bogota, Maggioli Latam, a joint venture (Newco) controlled 70% jointly by Colombian partners that confidently contemplates the development potential not only in the republic located between Atlantic and the Pacific, currently under the new government of Iván Duque Márquez (which brings political stability), but also throughout Latin America.
In contrast, in Spain, after entry at the end of 2016 with a control fee in the company Galileo Sa, based in the Canary Islands, a company specialized in the management of the cadastre and territorial data of local entities and in software management, with a radius of action that extends from the Mediterranean area to Mexico, Venezuela, Panama, Guatemala, Maggioli acquired last November 51% of Infaplic Sa, a company located in Getafe, on the outskirts of Madrid, active for 25 years in the field of local taxes (software and cloud storage solutions, as well as management advice) for provinces and municipalities.
On the other hand, a few weeks ago the operation closed with Atm DOS Sl, which has its headquarters in Madrid and headquarters throughout the peninsula, a direct competitor but on a reduced scale of the Rimini group, with extensive areas of work in local entities, from the publishing business to the consultancy, from accounting management to software development, historical supplier of the Madrid area.
“For now we are talking about small numbers, with a value of 10 million euros in turnover and 180 employees among the three Spanish companies – clarifies the CEO – but there are all the premises to duplicate them in a short time. In the management of each acquired company, we have left the reference historical partners to protect the heritage of know-how and relationships».
Before the end of the year, Galileo, Infaplic and Atm will merge into a single company of which Maggioli will be the reference shareholder and the Spanish partners will be minority partners. “Meanwhile, the analysis of new and possible mergers and acquisitions (M & A) is going ahead – concludes Maggioli – backed by the experience of growth for external lines matured in Italy in the last five years, to enter into related marketing areas in which We were not present and to guarantee a constant growth, made of small steps, without great peaks but neither without falls».