In the last few hours, an operation has been announced that will end up consolidating sprint, a cybersecurity group from southern Europe, as one of the leading agents in the sector. The purchase has been made for a value of €5.6 millionwhich must be paid before the end of April, through its Spanish partner V Valley Advanced Solutions. It must have the timely approval of the Spanish Competition Authority.
The solutions segment already represents for the Esprinet group the 42% of its global economic profitabilityand now increments when appended to Lead Networka Spanish company based in Portugal founded in 1999 and specialized in the distribution of software solutions in the area of cybersecurity.
the agreement includes that Lidera Network enters as an independent legal entity and that, during the first year, the Board of Directors remains intact with Jose Carlos Jimeno and Jose Manuel Albinana in charge of commercial and financial functions. In this way, maximum efficiency will be guaranteed and that the orderly transition will be the basis for the application of future synergies that will increase the value of the operations.
A market opportunity
It is not the last purchase made by Esprinet to take over the entire wholesale market specialized in cybersecurity, since the last purchase was that of Bludis in Italy. Undoubtedly, a way to consolidate itself as a benchmark company in southern Europe.
Third-party financing has not been required for the purchase of Lidera Network by V-Valley. In the statement, Alessandro Cattani, managing director of the Esprinet Group, assures that the solutions market is booming and that investments will increase. The 38 Lidera professionals will reinforce the international team of V-Valley.
Esprinet has been able to see this high demand that exists in the segment of cybersecurity solutions and services, since teleworking and data have increasingly taken on a greater role, and therefore, they require a greater protection network. This alarmism in favor of cybersecurity improvements has increased after the hacker attacks carried out as a result of the war in Ukraine.
The details of the operation
With the economic data in hand, the purchase of Lidera Network is carried out for 5.6 million euros as provisional price, since it is subject to adjustment mechanisms linked to the calculation of real net worth at the reference date, also depending on the company’s credit position before the one-year period elapsed. Everything will be adjusted, including the usual guarantees provided, by an amount of the Provisional Price paid by V-Valley in a blocked account which will be gradually released upon the occurrence of the agreed events.
In order to make this purchase, Esprinet has had the support of Ethica Group as financial advisors, Gómez-Acebo & Pombo Abogados SLP as legal advisors, PricewaterhouseCoopers Tax & Legal, SL as tax advisors and EY Advisory for financial due diligence. The counterparts were assisted by Norgestion SA in financial, fiscal and legal matters.
previous agreements
A few days ago we learned that Esprinet Ibérica had announced the incorporation of i-tec Technologies, a European company specializing in the manufacture of high-tech connectivity solutions. Thus, it meant the annexation of a wide catalog of products for users of mobile technology through external peripherals and accessories to laptops and smartphones.
In financial year 2022, Esprinet carried out shares for a value of €23 millionsurpassing the 22.1 million euros registered in 2021. Its EBITDA was 0.9 million euros (in 2021 it was 0.8 million euros), while his net worth at the end of the fiscal year was €5.1 million with a net debtor financial position of 0.4 million euros.
