The French company Cegid, Cegid Meta4 in Portugal, is one of the leading global specialists in cloud management solutions for professionals in the fields of Finance (ERP, Treasury, Taxes), Human Resources (payroll processing and talent management), Accounting, Retail, for Entrepreneurs and Small Businesses , today announced the final signing of the acquisition of Grupo Primavera, from Braga, which is one of the main business management software platforms in the Iberian region.
Transaction amounts were not disclosed.
The company confirmed in a statement that the new entity will create an Iberian leader and allow Cegid to accelerate its international development. As of today, Grupo Primavera becomes Grupo Primavera, Cegid’s company.
On July 26, Cegid announced its intent to acquire Grupo Primavera and today confirms the purchase has been completed. The new entity has more than 1,300 employees and 700 partners, and the initial turnover in the Iberian Peninsula is expected to reach 150 million euros this year.
The Primavera Group offers a wide range of cloud-based solutions that include billing management, accounting and enterprise resource planning (ERP) software, among others, aimed at small and medium-sized businesses in Portugal, Spain and Africa, with extensive use by accounting professionals. The technology group includes more than 24,000 client accounting firms, and is a historic marketplace for Cegid.
In the Iberian Peninsula, these solutions are added to those already marketed by Cegid to retail, tax and HR professionals, in particular with Cegid PeopleNet and Cegid Talentsoft products.
The merger of Grupo Primavera with Cegid will allow it to accelerate its growth, especially internationally, with strong prospects for development in Latin America, where Cegid has a strong presence.
“We are very pleased to complete the acquisition of Grupo Primavera. Following the acquisition of Meta4 in Spain in 2019, and more recently VisualTime, the merger with Grupo Primavera confirmed that Cegid is one of the major providers of cloud-based management solutions worldwide and cements its leading position in the Iberian Peninsula. By taking advantage of our leading position in France in the field of accounting, Grupo Primavera allows us to strengthen our strategy in this promising sector in other countries and strengthen our strong presence in Europe”, says Pascal Huillon, CEO of Cegid, in a statement sent to MINHO.
Santiago Solanas, the management team and the 800 employees of Grupo Primavera will join Cegid starting today. Santiago Solanas reports directly to Pascal Holion and is responsible for the entire Iberian region and Latin America.
“Santiago is a very experienced leader who has managed to develop Grupo Primavera and position it as a leading software company in just a few years. He will make sure to follow through on all our customers, regardless of sector, and will promote our useful and innovative solutions in these two regions of the world, which are fundamental to Cegid’s continued development”, Pascal Houlion concludes.
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