Linklaters advises Tecnocom on Indra takeover bid

Linklaters advised information technology company Tecnocom in relation to a takeover bid from Spanish consulting company Indra.

The offer was valued at €337 million, according to Mergermarket.

An Indra statement said the deal would result in annual cost savings of €40 million.

Tecnocom is a Spanish-listed information technology consulting company with a presence in Spain, Portugal and Latin America, and more than 6,500 employees, 80 per cent of which are based in Spain.

Indra said acquiring Tecnocom would create a company with €3.1 billion in revenue, and €243 million in EBITDA (earnings before interest, taxes, depreciation and amortization).

According to Indra, the deal is subject to approval by the “relevant anti-trust authorities”. Indra said the deal is expected to be completed in the second quarter of 2017.