OSLO: A subsidiary of Arribatec Solutions ASA has entered into an agreement to acquire four 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, a news release said.

Total transaction price is EUR 900.000 in cash and 16 million in shares in Arribatec at market with a 18/30/42 months lock-up.

“The acquisition of the Grupo Hodei companies provides Arribatec with the best treasury and banking solutions in the market. Their offering will complement our current solutions and extend our Solution as a Service offering with additional business-critical solutions globally and access to new markets, “says Per Ronny Stav, CEO of Arribatec.

Arribatec has entered into an agreement to acquire four key companies from Grupo Hodei, 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 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.

• Professional answer – A leading company in the business solutions market for cloud-based treasury management. The company has over 350 implementations in the enterprise market at an international level.

• Comunicaciones Bancarias Internacionales (CBI) – The only company in the market to provide banking connectivity anywhere in the world. More than 250 large companies and hundreds of SMEs uses the CBI cloud platform.

• Siges Solutions – Specializing in the development and implementation of ERP solutions for the food and meat sector in Spain.

• Virtual Software – Software development company with own complementary ERP solutions within document management, digital invoice & document processing, supplier portal etc.

The solutions from the Gruppo Hodei companies can be integrated with any ERP system and will be offered through Arribatec Solution as a Service. 

“The Grupo Hodei transaction brings a significant customer base in Spain and a fast-growing footprint in Latin America, with large public entities among others on the customer list. By combining our capabilities, we will grow and expand the SolaaS offering to new markets. We look forward to joining forces, which ticks another box in our strategy of developing a fast-growing global SolaaS company through organic growth and accretive acquisitions, and work with the experienced and highly committed management team lead by Miguel Toran,” Stav adds.

“We look forward to join forces with Arribatec, leveraging on their unique ERP competence and SolaaS solutions and our treasury and banking solutions. Together, we will add another level to Arribatecs global scalable solutions beyond any peers”, says Miguel Toran, CEO of Grupo Hodei.

Arribatec and the Grupo Hodei companies combined (including all recently announced Arribatec acquisitions) expect proforma annual run rate revenues at the end of 2020 in the range of NOK 480 million, whereof 38% revenue from international operations, and +10% EBITDA. 36% of the revenues are classified as annual recurring revenues, ARR.

Arribatec is a software and consulting company headquartered in Oslo. www.arribatec.com