Aubay Group has announced the acquisition of Spanish company, Cast-Info, primarily located in Barcelona and Madrid and specializing in software design and development IT services.
In 2015, the company posted revenues of approximately €27 million for an operating profit of 4%, and employed 570 members of staff.
With Cast-Info working almost exclusively for major accounts in the banking, insurance and automobile sectors, the acquisition will substantially reinforce Aubay’s positioning amongst several strategic clients, in particular BBVA and Santander. It will also see Aubay reach a new milestone in terms of size, making it a high profile, benchmark player in Spain and Portugal with close to 1,300 employees, more than 1,000 of whom are located in Spain. A pivotal operation financed entirely in cash, the acquisition of Cast-Info will enable Aubay to respond to larger competitive tenders and benefit from an extremely buoyant local market.
Cast-Info will be consolidated in the Group’s accounts from 1 January 2016. Operational synergies will be rapidly implemented in order to gradually bring the new entity in line with Aubay Group standards in terms of profitability.
Aubay Group’s own headcount continued to increase over the fourth quarter and exceed the 4,000 mark. Following the acquisition, the Group now employs 4,600 members of staff across Europe.