Cancom divests UK&I operation in €400m Telefonica deal
30 July 2021 | 0
Cancom has sold its United Kingdom and Ireland to Telefonica Tech in a deal worth €398 million.
Cancom UK&I’s 600 professionals will be joining the Telefónica Tech team, and a broad and strong digital services portfolio, including professional services and managed services in advanced IT, cybersecurity and multi-cloud solutions.
“I am really delighted that Cancom UK&I is becoming part of the Telefónica Tech family. This is a fantastic next step in our company’s growth,” said Martin Hess, managing director Cancom UK&I (pictured). “Telefonica Tech is a global tech powerhouse and we’re excited about what we will be able to deliver to our customers as Telefónica Tech in the UK&I. This is great news for both our customers and our employees.”
Cancom UK&I is a certified Microsoft gold partner for nine competencies, including Azure Expert MSP, CSP Direct, LSP, Surface Silver Partner and FastTrack, and it also has other relevant partnerships with leading technology vendors.
The company reached €155 million in revenues in 2020, of which managed and professional services represent more than 50% and are growing differentially.
“Having the Cancom UK&I talented team join Telefonica Tech will strengthen our cloud and cybersecurity capabilities in the UK and Ireland, with a strong focus on professional and managed services, and combined with our value proposition and global reach allows us to position ourselves as the strategic partner for our B2B customers in their digital transformation strategy,” said José Cerdán, CEO of Telefónica Tech.
The transaction is expected to be completed within the third quarter of this year.