VASS acquires CRI Group in Luxembourg with focus on the European Union
24 Nov 2021
CRI group specializes in cybersecurity and digital transformation and mainly develops projects for the European Union, specifically for official institutions based in Brussels, Strasbourg, and Luxembourg. This new agreement is framed within the VASS@400 strategy, which is advancing at a good pace with aggregated revenues for 2021 of 210 million euros (46% of the international market) and close to more than 3,000 employees in 20 countries.
Madrid, 24th November 2021 – Following last month’s announcement of the acquisition of the German consulting firm ECENTA, VASS now adds the acquisition of CRI Group, a company with headquarters in Luxembourg, specialized in cybersecurity and digital transformation The company boasts more than 300 employees and a turnover of 30 million.
With this acquisition VASS expects to exceed 210 million euros in aggregate revenues for 2021 (of which 46% come from the international market) and close to 3,100 employees. The acquisition enables VASS to position itself as a strategic provider in the European Union and thus expand its platform of large customers within Europe on which to scale its digital services and solutions model.
Founded in 1991, CRI Group mainly develops projects for the institutions of the European Union, in particular for official institutions based in Brussels, Strasbourg and Luxembourg such as the European Parliament and the European Commission, among others. In addition, VASS expands the list of countries where it is present by adding Belgium, Luxembourg, France and Greece to a total of 20 countries where it currently operates.
CRI Group joins the list of new acquisitions carried out by VASS so far this year, following the aforementioned ECENTA, a German consulting company specialized in Customer Experience solutions based on SAP CX (Sales, Marketing and Commerce) technology who operates primarily in the United States; and Comunytek, a company specializing in advanced systems and innovative products focused on wholesale banking and capital markets.
Additionally, with the aim of leading the SAP consulting market in the coming years, VASS announced last July the creation of T4S Advance Solutions, a company specializing in “advance topics” on SAP-based business processes.
This new agreement with CRI Group is yet another successful initiative of the VASS@400 strategy with which the company chaired by Francisco Javier Latasa aims to become the leading Spanish-based digital solutions company and lead the group to a turnover of 400 million by 2025
According to Latasa, “Theacquisition of CRI will allow us to strengthen our presence in Europe by joining the suppliers of European organizations present in Belgium, France and Luxembourg”.
For Stefano Bodrato, CEO of CRI Group, “The integration into VASS Group will boost CRI activities in European Institutions providing us with additional expertise in sectors such as ERP and cloud systems where we were not present. It will also allow us to better support partners and end clients with new technologies and methodologies, enhancing our added value and time to market”.
This entire plan is also backed by private equity OEP (One Equity Partners), who joined VASS at the end of 2020 and has extensive experience in supporting companies to execute ambitious growth plans.