Econocom, advised by KPMG Abogados, takes over Semic

The France based Econocom Group has acquired 51% of Semic, the Spain based provider of IT solutions and services.

Founded in 1982, Semic is a recognized provider of IT solutions and services throughout Spain. The company offers its customers, both in the private and public sector, a wide range of solutions including IT hardware distribution, consulting for the implementation of IT infrastructures and managed services. The company has extensive industry expertise with particular know-how in the public administration, healthcare, and education sectors.

Semic employs more than 300 people based in 10 sites and 130 service points in Spain. The company reported in FY21 revenue of 80,3 million.

The agreement grants Econocom an initial majority stake with the founders and key managers remaining fully committed to drive growth further benefiting from the synergies of the combined platforms.

KPMG Abogados advised Econocom with Javier Bau Cabestany, Esperanza Barragán García and
Borja Marqués Triay.