Our Spanish subsidiary Circet España further strengthens its national leader position in the Spanish fixed telecom market through the acquisition of business activities from Comfica.
Our Spanish subsidiary Circet España further strengthens its national leader position in the Spanish fixed telecom market through the acquisition of business activities from Comfica.
The agreement, finalized on June 18th, 2024, includes most of Comfica's fixed network services for Telefónica, a major client for both companies.
The acquisition is expected to generate over €60 million in annual sales (based on 2023 figures) and significantly expands Circet España's geographical footprint. It also brings over 500 skilled employees to the Circet team, enhancing its technical expertise and service capabilities.
"This acquisition is a major step forward that will significantly increase our presence in the market," said Manuel Delgado, CEO of Circet España. "Comfica was a preferred supplier to Telefónica in all the regions that we will take over. Combined with our existing relationship with Telefónica and other customers, this operation will enhance Circet's position as a major player for telecom network services in Spain."
"This transaction aligns with our strategic plan and fuels our growth in new activities and existing markets," said Jorge Huerta, CEO of Comfica Group. "We're grateful for Telefónica's trust and our employees' commitment. We believe Circet is the ideal company to continue developing this business."
Comfica to Maintain Other Operations
It is important to note that Comfica will continue to operate its other historical activities.
ESG
Cookies
Group website