10.02.2021 – Arribatec expans SolaaS offering with aquisition of four Grupo Hodei companies.
We have entered into an agreement to acquire four key software companies from Grupo Hodei, providing among others innovative cloud-based solutions within treasury and banking, in addition to a strong market position in Spain and Latin-America.
Grupo Hodei is a software and IT service company headquartered in Madrid and with a strong position in Latin America. The companies Arribatec acquires are Professional answer, Comunicaciones Bancarias Internacionales, Siges Solutions and Virtual Software with their own market leading software solutions sold and delivered out of offices in Madrid, Barcelona, San Sebastian, Mexico, Guatemala, Colombia, Dominican Republic and El Salvador. The solutions from the Grupo Hodei companies can be integrated with any ERP system and will be offered through Arribatec Solution as a Service.
The four companies combined have 40 employees, revenues of EUR 4 million in 2020, with a growing ARR base of +40%, and an EBITDA of EUR 0.6 million. Total transaction price is EUR 900.000 in cash and 16 million in shares in Arribatec at market with an 18/30/42 months lock-up.