A Canadian corporate investor in software companies entered Spain for the first time through a merger with…
A Canadian corporate investor in software companies first entered Spain through a merger with Spanish software company Telematel.
Canadian software investment company Valsoft Corporation has acquired Barcelona-based Telematel, a provider of software and services to the construction industry and other materials manufacturing customers.
By acquiring Telematel, Valsoft, an investor in vertical software companies, will enter the Spanish market for the first time.
Following the closing of the acquisition, Telematel will retain its leadership team and offices in Barcelona, maintaining the pace of its current double-digit annual growth. The company will bring to Valsoft the largest cloud database in the construction industry, covering 1,200 brands.
In a statement, the head of the content department at Telematel, Helena Grau, said: “The integration with Valsoft will allow Telematel to achieve the company’s growth and internalization goals more quickly and effectively.”
Valsoft Vice President and Head of Mergers and Acquisitions Steph Manos noted: “We have made a strategic decision to enter the Spanish market and work with a recognized brand to generate opportunities in the domestic and international markets,” adding: “We intend to consolidate this market with Telematel and will continue to look for opportunities throughout Europe and Spain. ”
Michael Assi, CEO of Valsoft’s Aspire Software division, added: “As part of the Aspire Software group, Telematel is well positioned to expand its technical capabilities, continue its growth plan and significantly increase its market share by taking advantage of the synergies with Aspire Software’s global presence in a wide range of industries. ”
Valsoft used an in-house lawyer to advise it on the transaction, namely General Counsel David Felicissimo, supported by Pamela Romero and an external lawyer from the Spanish law firm Marimón Abogados, Luis Marimón Prats.
Telematel shareholders received financial advice from partner Lucas de Mendoza, from Aquilon Partners in Barcelona, while Alvaro Bertrán, from the Ramón y Cajal Abogados law firm in Madrid, provided legal advice.
A big deal in the software industry was NVIDIA’s $40 billion acquisition of Arm from Softbank in September of last year.