Cuatroochenta acquires the Barcelona based company Ekamat to position itself as a strategic ally of Microsoft, a leading firm in SaaS (software as a service) market for companies. The operation, which plans to exceed a total proforma turnover of 10 million euros in 2020, has been communicated to the team and to BME Growth, where it has been listed since October.
With 44 years of experience in the implementation of ERP management systems for companies, Ekamat has been a Microsoft partner since 1997 and has been certified as a Gold Partner since 2004. Specialised in the implementation of Dynamics 365 Business Central, it offers its own vertical developments certified by Microsoft for the textile and distribution sector, in addition to commercialising the Power BI business intelligence tool, among other solutions. Its headquarters is located in the central Via Augusta in Barcelona.
Octavi Busqutes, founder of Ekamat, and Antonio Córdoba, the general manager, highlighted in the presentation of the operation to their team that ’Cuatroochenta is an organisation that will provide strength to Ekamat’. ’This will make the company stronger commercially compared to our competitors, covering in a more effective way the global needs of our clients", Busquets explained.
"The contribution of Cuatroochenta's technological knowledge is perfectly complemented by the Microsoft solutions platform, which will allow Ekamat to move to another dimension within the world of business solutions"
Antonio Córdoba (general manager of Ekamat)
Cuatroochenta thus multiplies the scope of its digital cloud solutions to improve the performance of companies, either with developments of customised microservices integrated into pre-existing systems (ERP, CRM) or through its own products under the SaaS model (such as CheckingPlan), always with a layer of cybersecurity that guarantees their specialised business unit, Sofistic. ’All our applications are cloud based. They are interoperable and can be integrated in the Microsoft platform, so a union of these characteristics was a natural step to exponentially expanding the number of companies to which we can provide more complete and integrated solutions", explained Alfonso Martínez, Director of Operations at Cuatroochenta, accompanied by Alfredo R. Cebrián, CEO of the company.
"Microsoft has taken the definitive step to the cloud environment, to the SaaS model, and with all of their Microsoft 365, Dynamics 365 and Power Platform strategy, we see an enormous synergy with our way of understanding the solutions that companies need"
Alfonso Martínez (COO Cuatroochenta)
A turnover of 4.7 million
Ekamat closed 2019 with a net turnover of 4.7 million euros. Its contribution to Cuatroochenta in 2020 is expected to be greater than 4 million, which would add up to a proforma turnover of more than 10 million euros in total. Additionally, the Barcelona based company will contribute a normalised EBITDA close to 15%.
This is the fourth acquisition of Cuatroochenta within its inorganic growth strategy to continue expanding its position in Spain and Latin America, and this comes after its successful incorporation into BME Growth on 22 October. With the listing code 480S and under the fixing modality, the company has registered a 65.77% increase in value in four weeks, increasing its shares from €9.35 at the starting price to currently being valued at €15.50 , for a total company value of 34.48 million.
The 40 Ekamat employees will be integrated into the Cuatroochenta structure to form a team of 150 people, distributed among the company’s offices in Castelló (headquarters, in the technology park of the Jaume I University), Barcelona (where the new acquired firm will maintain their workforce), Burgos, Madrid, Milan, Panama, Bogota and Santo Domingo.