Telefonica Tech buys BE-terna to boost European cloud presence
Telefonica Tech has announced the acquisition of European Microsoft Cloud solutions provider BE-terna for up to €350million from Deutsche Private Equity.
BE-terna was founded in 2005 and specialises in driving digital transformation based mainly on Microsoft.
It has over 1,000 employees across 28 locations in Europe including Germany, Austria Switzerland and several countries in the Nordics.
Telefonica Tech says its latest acquisition will enhance its geographical presence for professional and managed services across Europe.
“As a next-gen IT services integrator our priority is to build and become a leader and continue to deliver differential growth both organically and inorganically,” José Cerdán, CEO of Telefonica Tech said.
“BE-terna will reinforce our cloud capabilities in Germany and enable us to enter into other Central European and Nordic markets.”
“As the pandemic forces a faster move to the cloud and a greater need for digital transformation, Microsoft stands as one of the preferred partners for these projects, and BE-terna is a leading European player in this field.”
Telefonica Tech says the acquisition will enforce its commitment to becoming a leading player in the tech services market across Europe.
The transaction is expected to close in the coming weeks but must first receive approval from the German Competition Authority.
Since it was founded in 2019 the firm has participated in several M&A deals in recent times, purchasing CANCOM UK&I and Incremental Group to strengthen its services in the UK and Ireland.
Telefonica Tech’s revenues approached €1 billion at the end of 2021, growing 33.6% year-on-year, the company announced it is financial results for last year.