Link Securities | Telefónica (TEF) has completed the acquisition of Altim, a consulting firm specialising in the customisation of SAP business software for clients, for a total valuation of around €30 million, according to Expansión.
The acquired company, which is headquartered in Las Rozas (Madrid), is primarily engaged in the implementation of customised solutions for the business market based on the business management system of the German company SAP.
The software provided by SAP is a suite of applications that optimises business management by covering specific modules such as finance (FI), human resources (HR), supply chain (MM and SD), production (PP) and quality (QM). It allows real-time information to be received to monitor key data, reduce errors and encourage collaboration between departments.
Telefónica’s acquisition of Altim, despite its modest size, is significant as it demonstrates the Spanish operator’s interest in growing in the business applications (B2B) market, where the group has placed a significant part of its hopes for revenue growth, given the difficulty of increasing revenues in the residential market.
