Banc Sabadell | Santa Bárbara Sistemas plans to appeal to the Supreme Court against the two major artillery contracts that the government awarded to Indra (IDR) and Escribano for €7.24 billion, according to press reports. These two projects are fundamental pillars of the 31 Special Modernisation Programmes (PEM) promoted by the Ministry of Defence. We recall that Santa Bárbara has already filed an administrative appeal to try to suspend the…

Alphavalue / Divacons | Shares in the Spanish IT services and consulting company fell by 0.78% yesterday, despite exceeding €10 billion in market capitalisation on Wednesday for the first time in its history. Indra ended the day with its shares at €57.6. The cumulative revaluation so far this year is already around 19%, consolidating the company’s upward trajectory in 2025, when it grew by 184.19%. Indra also signed an agreement…

Banco Sabadell | The Supreme Court has admitted an appeal filed by Santa Bárbara Sistemas requesting the precautionary suspension of €3 billion in 0% loans granted by the government in October 2025 to the joint venture formed by IDR and Escribano Mechanical & Engineering (EM&E). These loans would be used to pre-finance the two main artillery programmes included in the government’s military modernisation strategy: wheeled howitzers (€1.181 billion) and tracked…

Link Securities | Indra (IDR) informed the National Securities Market Commission (CNMV) that Hisdesat Servicios Estratégicos, S.A., a company in which Indra has a majority stake, has implemented a contingency plan to ensure the continuity of services committed to the Ministry of Defence and the rest of its customers, following the accidental impact of a space particle on its SpainSat NG II satellite during the orbital transfer phase. Hisdesat confirms…

Link Securities | Indra (IDR) and GMV have signed an agreement to work together on the development of cutting-edge systems and services for the Armed Forces that will help strengthen national sovereignty and the competitiveness of Spanish industry in the European and global markets, according to the financial website Bolsamania.com. Both companies have indicated that they have identified a number of areas for collaboration to combine the technologies and systems…

Renta 4 | The company has announced the acquisition of Wake Engineering to strengthen its vertical take-off capabilities. Wake Engineering is part of the CPS Group, whose main activity is the design, development and production of Unmanned Systems (UAS). With this acquisition, Indra strengthens its position to respond to Special Modernisation Programmes (PEM) and the enormous potential for growth in the international arena, mainly through the ReArm Europe plan programmes….

Bankinter | Indra’s Board of Directors has unanimously agreed to the potential acquisition of Escribano Mechanical and Engineering (EM&E). In its statement, the Company mentions that ‘the potential transaction is consistent with the strategy of the Indra Group’ and that ‘the agreement does not imply or anticipate the approval of any transaction’. Bankinter analysis team’s view: Limited impact, as it was practically a foregone conclusion that Indra’s Board would approve…

Renta 4 | Indra is reportedly in advanced negotiations with the Apis Partners fund to sell Minsait’s payments division. In recent months, Indra has already negotiated its sale to Pollen Street and Cinven, among others, without reaching an agreement. The valuation could be around €400 million, which could reach €450 million including target payments. This valuation is lower than the €600 million at which it was initially valued. Minsait Payments…

Renta 4 | Indra has signed an agreement with Teknei to sell its business process outsourcing (BPO) division for €96.6 million. The sale includes the transfer of more than 5,000 employees under the same working conditions. BPO sells in Spain, Colombia, Italy, Peru, Mexico, Chile and Portugal. Assessment: Positive and expected news. In our opinion, Indra’s structural and dimensional change due to the strong growth expected in Defence suggests that…