Advisor to Telefónica Tech on the acquisition of Incremental
AZ Capital has advised Telefónica Tech on the acquisition of Incremental, a leading digital transformation and data analytics company and Microsoft partner, for up to £175 MM (c. €209 MM). With this new acquisition, Telefónica Tech UK&I significantly increases its scale in the UK and its offering of Microsoft technologies, including 16 Gold Competencies and 5 Advanced Specialisations. With these capabilities, and also considering the acquisition of Cancom’s business in UK back in July 2021, Telefónica Tech consolidates its leading position in the UK market, considered to be the largest and fastest growing IT services market in Europe.
“José Cerdán, CEO of Telefónica Tech, comments: “We warmly welcome Incremental Group, and are delighted that this acquisition enables us to strengthen our position as a leader in the UK market for IT services. We are now able to provide end-to-end Microsoft services, including digital transformation, managed services and data analytics, and achieve attractive cross-selling synergies with Telefónica Tech UK&I, complementing and positioning us as a leading Microsoft-focused company in the UK.”
Neil Logan, current CEO at Incremental Group, says: “I am immensely proud of what Incremental has achieved since our inception a little over 5 years ago. As we looked ahead to the next stage of our development, it was important that we secured Incremental the right support for the long term. Becoming part of Telefonica Tech propels us into the next phase of our journey and enables us to further scale the business, creating exciting opportunities for our people and our customers.”
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