The acquisition will also allow Ezentis to strengthen its operations in Spain and Peru, as the purchase includes Network Test's subsidiaries in both countries. The agreement also covers the acquisition of Network Test's operations in Miami, USA.
Ezentis and Network Test have signed a binding purchase agreement, contingent upon the closing of the sales contract, which stipulates a payment of €7.1 million. This figure, however, could increase by up to €3.7 million depending on the achievement of business objectives and operating results in 2014 and 2015.
The Network Test Group has 14 years of experience in the comprehensive telecommunications network management market and employs 470 engineers and technicians with offices and work centers in Madrid, Seville, and Zaragoza, as well as subsidiaries in Colombia, Peru, and Miami (USA). Network Test, which closed 2013 with a turnover of €14.7 million, has a portfolio of 50 clients, including major telecommunications and energy companies.
According to Manuel García-Durán, President of the Ezentis Group, “This transaction, which marks the beginning of the implementation of the 2014-2017 Strategic Plan presented to investors and the market earlier this month, allows us to leverage Network Test's capabilities not only in Spain but also in Latin America, thus advancing our goal of exceeding €650 million in sales by 2017.”
Ezentis is a business group headquartered in Spain, with a presence in nine Latin American countries, working to improve the quality of life for people in more than 15 million households by ensuring the complete satisfaction of the region's leading telecommunications, energy, and water providers. Ezentis builds its vision on two solid pillars: Innovation and Corporate Social Responsibility (CSR). By striving to improve work performance and employee well-being, they guarantee greater customer satisfaction, enhanced safety for their employees, and a positive environmental impact.
