AURELIUS acquires IT consulting activities of Telvent Global Services in Spain and South America
Munich, December 12, 2013 – The Munich-based AURELIUS Group (ISIN DE000A0JK2A8) is to acquire from Telvent, a subsidiary of the French group Schneider Electric, the IT consulting activities of Telvent Global Services in Spain, Brazil and Chile. These activities are leading IT consultancies in the Spanish and South American markets. The transaction is scheduled for completion in the first half of 2014. The parties have agreed not to reveal the purchase price.
The over thousand employees of the activities acquired provide advice to large companies from the banking sector and retailing in particular. A further pillar of the business is in the fields of healthcare and public administration. The company enjoys a strong competitive position in Latin America, mainly in the fast-growing regions of Brazil and Chile, where over 30 percent of revenues are now generated on the back of constantly growing market share.
The product portfolio comprises every aspect of IT consulting, from the development through to the implementation and maintenance of both individualized and standardized software, and also innovative proprietary healthcare solutions.
“The business activities we’ve acquired are very attractive to AURELIUS, as we’re looking to expand IT as one of our core segments. What’s more, the acquired portfolio of TGS is a perfect fit with our present subsidiaries in the IT sector. We can expect to leverage long-term synergy effects in this field,” says Dr. Dirk Markus, CEO of AURELIUS AG.