It is worth noting that these are two family-owned businesses with similar cultures, a relationship of trust, and complementary activities. Furthermore, both groups will strengthen and improve their positions in the national and international markets, allowing their customers to benefit from a superior value proposition.
The Ormazabal Group's experience in manufacturing equipment and supplying solutions for electrical distribution networks will be strengthened by the Ikusi Group's expertise in electronics, communications, software, and remote control.
Likewise, the Ikusi Group's ability to offer infrastructure solutions and services will be enhanced by the Ormazabal Group's capabilities and portfolio of products, services, and clients.
The new corporation, Ormazábal Ikusi, will be headed by Javier Ormazabal and Ángel Iglesias, who will serve as president and vice president, respectively. It will be located in Zamudio, although both companies will maintain their current headquarters.
Ormazabal Group
's headquarters are located in the Zamudio Technology Park (Vizcaya). With a turnover of €400 million in 2009 and a workforce of over 2,000 employees, the Group operates in more than 50 countries and has production plants in Spain, Germany, France, and China.
This industrial group boasts its own technology and extensive experience in the electrical equipment sector. Its strong commitment to innovation has led it to expand into new sectors such as telecommunications, aerospace, and security.
The Ormazabal Group comprises a conglomerate of nine companies, although it will contribute its electrical business to this merger, representing approximately 90% of the Group in terms of revenue and number of employees.
Ormazabal was founded in 1967. Today, 50% of its revenue comes from international markets.
Ikusi Group
is headquartered in the Miramón Technology Park in San Sebastián. With a turnover of €142 million in 2009 and a workforce of 1,000 employees, the Group operates in 10 countries (Spain, Australia, Chile, Colombia, France, Germany, Mexico, Portugal, Russia, and the United Arab Emirates).
Ikusi is a provider of integrated solutions in the field of Information and Communication Technologies. It offers services, solutions, and turnkey projects for information/entertainment management, security, communications, and operations in sectors such as airports, railways, traffic and tunnels, hospitality, administration, financial services, and large infrastructure projects. It also offers systems and solutions for remote control and for the reception and distribution of TV signals in both the professional (TV operators) and residential markets.
Ikusi was established as a brand in 1967, although its origins date back to 1949, the year in which its founder and current President, Ángel Iglesias, began his entrepreneurial activity, which would eventually lead to the Ikusi Group. Today, approximately 50% of its revenue comes from international markets.
