Conclusion boosts nearshore capabilities with Neotalent deal
UTRECHT, NETHERLANDS — The Netherlands-based business consulting and IT services firm Conclusion has acquired a 95% stake in Portuguese company Neotalent for €49.4 million (US$52.2 million), marking a significant step in Conclusion’s international growth strategy.
The acquisition demonstrates Conclusion‘s commitment to becoming a global leader in IT and business consulting services through strategic international expansion. Conclusion has grown to more than 2,500 employees and $235 million in revenue.
“This is a really big step for Conclusion. By welcoming Neotalent into our ecosystem, we have reached the critical mass needed for an effective nearshore capability,” said Conclusion’s CEO, Engbert Verkoren.
Backed by investor NPM Capital, Conclusion gained a foothold in Portugal by acquiring Neotalent just weeks after initially entering the country’s market.
Headquartered in Lisbon with additional offices in Porto and Madrid, Neotalent provides IT services including application development, cloud computing, data analytics, and software engineering.
It also offers IT staffing services and nearshore support to clients in Portugal and Spain. Neotalent generates approximately $7.9 million in annual revenue.
“This is an important moment for Neotalent. Being part of an International Group such as Conclusion will allow us to reach new markets and answer to new business challenges, leveraging on the group’s expanded, best-in-class services and solutions portfolio,” said Célia Vieira, Neotalent director.
Conclusion gains over 800 IT professionals through the acquisition. The deal expands Conclusion’s workforce to over 3,300 across the Netherlands, South Africa, and Portugal.
The acquisition is subject to regulatory approval and other customary closing conditions. The deal is expected to close within the next few months.
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