King & Wood Mallesons advised the shareholders of Spanish company Adesis Netlife on its sale to GFT.
Adesis Netlife, which specialises in IT services and consulting, has completed more than 600 projects for large companies in Spain, particularly in the banking and insurance sector. The company´s client portfolio also includes companies in sectors such as energy and health.
In the 2014 financial year, Adesis Netlife generated revenues of €13.4 million and earnings before interest, taxes, depreciation and amortisation (EBITDA) of €2.3 million. Revenues for 2015 are expected to grow to almost €16 million, a GFT statement said.
Adesis has a workforce of 204 people in Spain and 69 in Mexico. The acquisition increases GFT Group’s headcount to approximately 3,700, of which 1,600 are based in Spain. The GFT statement said: “Adesis marks the entry of GFT into Mexico and will extend GFT’s presence in Latin America with development centres in Brazil and Costa Rica.”
The multi-practice King & Wood Mallesons team advising on the deal included partners Roberto Pomares and Carlos Gil.