GFT moves into Italian market with Sempla acquisition
GFT Technologies has taken an 80% stake in Italian IT consultancy Sempla for an undisclosed cash sum. It has the option to acquire the remainder of the company after five years.
Sempla specialises in the commercial and private banking sector, offering comprises IT services, business solutions and digital marketing & design. With 460 employees at 10 sites in Italy, the company turned over more than €44 million in 2012, 70% of it from financial sector customers. Pre-tax profits were €4.1 million.
GFT operates primarily in the investment banking sector. “Sempla’s portfolio fits excellently with our own products in the GFT Solutions division,” said Ulrich Dietz, chief executive of GFT. “We see numerous interesting business opportunities with attractive clients. Together, we will become a leading supplier of IT solutions for financial service providers on the European market.”
GFT currently supports existing clients in Italy from its facility in Spain.
It expects the deal to add €23 million to revenues and €3.50 million to EBITDA in the second half of 2013, taking its projects revenues for the current financial year to around €260 million. The acquisition also raises GFT’s headcount to almost 2,000.