Business

VASS continues to advance its growth plan and acquires Comunytek

VASS continues to advance in its organic and inorganic growth plan and precisely with the aim of leading the digital transformation also in the national and international financial sector, it has just announced the purchase of Comunytek, a company specializing in advanced systems and innovative products focused on banking, wholesale and capital markets.

This acquisition, which is part of the VASS @ 400 strategy with which the company plans to invoice 400 million euros in 2025, strengthens its position in the financial sector, since Comunytek is one of the most relevant players in the sector. CIB (Corporate & Investment Banking segment). ) and has 20 years of experience in the development of innovative solutions for the banking market thanks to his in-depth knowledge of Capital Markets and the use of new technologies.

“With this acquisition, VASS broadens its value proposition in the financial sector and accelerates its ability to undertake increasingly strategic and transformational projects with its large national and international clients”, explains Francisco Javier Latasa, President of VASS.

In the same vein, Eduardo Lorente, Director of Business Development of VASS, underlines that “the CIB and Wealth Management segments are strategic for financial institutions because they represent a relevant percentage of the margins obtained in their operations. Thanks to this acquisition, VASS will now be able to offer greater know-how to these entities, helping them to develop digitization and transformation projects that also allow them to be competitive in an extremely competitive market where the The emergence of FinTech has led to changes, particularly in asset management ”.

The acquisition of Comunytek is therefore the second operation of this type carried out by VASS in less than a year, which shows its great commitment to consolidate itself as a benchmark Spanish company in first-class digital solutions in all areas. sectors, both in Spain as in Europe and Latin America.

According to Faustino Nebrera, founder and partner of Comunytek, “our integration into the VASS group is a strategic bet for the internationalization of our offer of products and services specialized in wholesale banking and financial markets, thus completing the enormous commercial portfolio. of VASS ”.

Likewise, Vicente Bouza, founder and partner also of Comunytek, considers that “the integration into the VASS group implies the recognition of the capacities of Comunytek, which are based on a team of excellent professionals who, with their good work, have enabled us to be a company of recognized prestige in the sector of wholesale banking and financial markets in Spain. The union of Comunytek with the VASS Group will imply a new challenge and will open a new world of opportunities both for our clients and for our professionals ”.

This new agreement is part of the VASS @ 400 strategy that VASS launched this year and which aims to become the leader in digital consulting based in Spain, bringing the group to a business volume of more than 400 million in the next 5 years. This plan is supported by Private Equity Company, OEP (One Equity Partners), who joined VASS at the end of 2020 and has extensive experience in supporting companies in the implementation of ambitious growth plans. OEP has just sold Italian IT services company Lutech after nearly tripling its turnover to 450 million euros in less than four years.

Jörg Zirener, Senior Managing Director of OEP, adds that “VASS and OEP have a unique opportunity to create a champion of digital transformation capable of serving their customers with innovative world-class solutions”.

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