VASS reaches a revenue in excess of 272 million and grows organically more than 20% in 2022
08 Feb 2023
- The company chaired by Francisco Javier Latasa has reported a significant growth in 2022, consolidating its position as a leading digital solutions company.
Digitalisation and new technologies continue to be key for the business and growth of many companies, especially in uncertain economic times as VASS has proved during 2022. As a result, the leading company in digital solutions has closed this year with a total revenue of 272 million euros (324 millions on a proforma basis, including all acquisitions), achieving 20 percent year on year organic growth and 35 percent in total terms -considering inorganic growth-. 52 percent of the company’s turnover has been generated abroad Spain, which represented 60 percent of the profit total growth
This growth is due to VASS internationalization vision, which aims to drive the company as a leading global player in digital transformation services and which has led it to be present in 26 countries in 4 continents.
“These numbers are possible thanks to our customers’ trust as well as the excellent VASS team of professionals. This result is the culmination of an extraordinary year and the consolidation of the VASS@400 plan initiated a year ago, our ambitious roadmap to strengthen our international presence and become one of the world’s leading players in digital and technological solutions” says Francisco Javier Latasa, Chairman and CEO of VASS.
In order to continue to scale and grow internationally VASS began the year setting a new innovative global business model with 3 main markets, called GEOs, Spain; EMEA & APJ (Europe, Middle East and Africa – Asia Pacific and Japan) and the AMERICAs (North America and Latam). To lead these regions it has appointed three CEOs who will lead these areas: Eduardo Lorente (GEO Spain), Markus Bohme (GEO EMEA & APJ) and Álvaro Sánchez Pozuelo (GEO AMERICAs).
This new strategic phase of international consolidation, which begins this year, has been named ‘VASS Global Play’, where it is expected to set the roadmap to achieve a revenue of one billion euros in the coming years.
Under the “VASS@400” strategic plan, the company acquired a total of 5 companies in 2022. First, One Inside, a Swiss IT consulting company specialised in Adobe technology, with a strong focus on customer experience solutions. This was followed by the acquisition of Movetia, a Barcelona-based company and leader in the development of digital solutions for the finance and automotive verticals. Mexico-based Hexagon, which specialises in digital marketing solutions and services focused on customer targeting and customer analytics. The latest acquisitions in 2022 were: Zington, a prestigious Swedish technology and management consulting firm, and Intelygenz, a Spanish company that is a reference in Artificial Intelligence technologies and is specialised in automation solutions and services.
In just one year, the company’s workforce – with a broad ecosystem of companies formed by NATEEVO, Serbatic, vdSHOP, T4S, in addition to the acquired companies – has grown 32 percent.
The acquisitions carried out, together with the ambitious new international expansion plan, strengthen VASS’s objective of becoming a leader in the sector, following One Equity Partners’ (OEP) taking a majority share with the objective of boosting the company’s strategic growth plan. With these good results and following this new strategic plan “VASS GLOBAL PLAY”, the company expects to close this year with a turnover of 400 million euros.