Cuatroochenta receives a new boost to its agile mergers and acquisitions strategy. The Valencian technology company listed on BME Growth has the backing of Banco de Santander’s Smart Fund, for which the financial entity offers up to five million euros to boost its expansion.
The amount that the Banco Santander fund makes available to Cuatroochenta will be destined mainly to the integration of new companies. With special emphasis on complementary areas within its focus on software to improve business performance, as highlighted by the listed company.
Since the Valencian debuted at BME Growth in October last year, it has already closed three corporate transactions. These have been executed through a combination of own funds and bank financing. The first of these operations was the purchase of Ekamat, Microsoft’s partner company from Barcelona.
Towards Latin America
Then came the acquisition of Fama Systems, a software development company for the facility management sector in Spain. Finally, the absorption of Sofistic Colombia was announced, with which the company managed to strengthen itself in the cybersecurity area and, furthermore, advance in the Latin American market.
The agreement between Banco Santander and Cuatroochenta is part of the Smart Growth Line of the Smart Fund, endowed with 500 million euros and aimed at companies and SMEs with a turnover of between three and 100 million euros, according to the Spanish firm. Likewise, it is a requirement that the participating companies present high growth in their gross operating profit or Ebitda.