Izertis acquires British company Projecting and strengthens its international position

The Spanish technology consultancy firm Izertis has acquired the British company Projecting which specialises in the financial sector. This is the first acquisition of a company from the UK, one of the main European markets, thus responding to one of the main axes of the 2027 Strategic Plan: expansion in Europe and the USA. This is the company's first acquisition deal in 2024 and comes on top of 38 other deals during its nearly 28 years of existence. 

Projecting works with financial services organisations primarily in the UK, as well as developing and supporting projects in Spain and the rest of Europe. The company closed 2023 with a turnover of £5.3 million. Its integration brings to Izertis a team of 60 people. 

For the CEO and president of Izertis, Pablo Martín, the acquisition of Projecting is "a decisive step in our strategic plan to become a truly global company, with the capacity to serve large multinational clients in the different markets where they have a presence".

For their part, Projecting partners David Hamilton and David Ferrin point out that the two companies' businesses are complementary and strategically aligned. "Belonging to Izertis will allow us to take another step in our growth, with access to products and teams that will enable us to provide a better and greater service to our customers. Our focus will be on leading the company's growth in the UK and in financial services”.

Listed on the BME since November 2019, Izertis closed the 2023 financial year with a 31.6% increase in revenues (€121.3 million) and a 54.4% increase in normalised Ebitda (€18.6 million). The Spanish technology consultancy firm's 2027 Strategic Plan foresees reaching 250 million euros in revenues and 33 million euros in EBITDA by the end of that year.

The IT Services sector is forecast to reach global revenues of $1.2 T (1.2 trillion) in 2024, maintaining growth with average annual figures close to 10% until 2030. Of these revenues, the leading market is the US, followed by Europe, with the financial sector being the main consumer of these services, followed by healthcare.