Cuatroochenta has signed a buying and selling contract subject to a condition precedent to acquire all the shares of Fama Systems, a reference company for the development of software for companies in the facility management sector in Spain. The operation will allow the Castellón-based technology company to position itself as a leader in digital mobility operation platforms for companies under the SaaS model by joining its reference product so far, CheckingPlan. In addition, in the year of its incorporation into BME Growth, Cuatroochenta closed the third quarter with an income and a proforma EBITDA that exceeded the objectives set for all of 2020.
The acquisition of Fama will be completed during the first quarter of 2021 after the preparation and integration activities in Cuatroochenta agreed upon by both parties in the contract. The Barcelona based company has more than 20 years of experience providing digital solutions for facility management, asset management, maintenance, smart cities and sustainability for clients such as Renfe, Endesa, RTVE, Deloitte, CIRSA, FIATC Seguros, Generalitat de Catalunya or Complutense University of Madrid. The company has a team of 25 professionals with technical backgrounds and experience across their headquarters in Barcelona and Madrid. Its contribution to the group will be 1.7 million euros in terms of turnover, with an EBITDA of more than 30%.
Cuatroochenta will thus have two of the most powerful platforms for companies in the facility management and facility services sector in the country, using artificial intelligence and data automation to optimise processes and improve results. The acquisition of Fama ends 2020 with the technology company fulfilling its M&A plans after the integration of their partner from Microsoft, Ekamat and 4TIC, who are specialised in connectivity between society and administration and blockchain.
Third quarter results and listing on BME Growth
At the same time, the results for the third quarter of 2020 have been published on BME Growth, where it states that good progress has been maintained despite the global health crisis. In the first nine months of the year, the technology company has reported proforma revenues of 8.15 million (96% more than last year), with an EBITDA of 1.58 million, 19% of revenues (25% more than in 2019), which means exceeding the target set for the full year, specifically with a degree of compliance of 114%.
Cuatroochenta also closes the year with an excellent track record of its listing on BME Growth since it was incorporated on 22 October with the code 480S: an increase of 152% in the company’s value with a capitalisation of 52.50 million euros. This places it as the third highest increased value in 2020 in the SME market, in which only six have managed to do so with triple digits.
*In the photo at the beginning of the article, Carmen Ramos, general manager of Fama Systems, and Alfredo R. Cebrián, CEO of Cuatroochenta, at the company’s headquarters in the technology park of the Jaume I University of Castelló, Espaitec.