VASS ACQUIRES CRI GROUP IN LUXEMBOURG WITH FOCUS ON THE EUROPEAN UNION

VASS ACQUIRES CRI GROUP IN LUXEMBOURG WITH FOCUS ON THE EUROPEAN UNION

CRI Group specializes in cybersecurity and digital transformation and mainly develops projects for the European Union, specifically for official institutions based in Brussels, Strasbourg, and Luxembourg.

This new agreement is part of the VASS@400 strategy, which is advancing at a good pace with aggregated revenues of 200 million euros for 2021 (of which 46% will come from the international market) and will have close to 3,100 employees in 20 countries.

Fco. Javier Latasa and Stefano Bodrato

Madrid, 24th November 2021 – Following last month’s announcement of the acquisition of the German consulting firm ECENTA, VASS now adds the acquisition of CRI Group, a company with headquarters in Luxembourg, specialized in cybersecurity and digital transformation. The company boasts more than 300 employees and a turnover of 30 million. 

With this acquisition VASS expects to exceed in aggregate revenues 200 million euros for 2021 (of which 46% will come from the international market) and will have close to 3,100 employees. The acquisition enables VASS to position itself as a strategic provider in the European Union and thus expand its platform of large customers within Europe on which to scale its digital services and solutions model.

Founded in 1991, CRI Group mainly develops projects for the institutions of the European Union, in particular for official institutions based in Brussels, Strasbourg and Luxembourg such as the European Parliament and the European Commission, among others. In addition, VASS expands the list of countries where it is present by adding Belgium, Luxembourg, France and Greece to a total of 20 countries where it currently operates. 

CRI Group joins the list of new acquisitions carried out by VASS so far this year, following the aforementioned ECENTA, a German consulting company specialized in Customer Experience solutions based on SAP CX (Sales, Marketing and Commerce) technology who operates primarily in the United States;  and Comunytek, a company specializing in advanced systems and innovative products focused on wholesale banking and capital markets. 

Furthermore, with the aim of leading the SAP consulting market in the coming years, VASS announced last July the creation of T4S Advance Solutions, a company specializing in “advance topics” on SAP-based business processes.  

This new CRI Group acquisition is yet another successful initiative of the VASS@400 strategy with which the company chaired by Francisco Javier Latasa aims to become the leading Spanish-based digital solutions company and lead the group to a turnover of 400 million euros by 2025.

According to Latasa, “Theacquisition of CRI will allow us to strengthen our presence in Europe by joining the suppliers of European organizations present in Belgium, France and Luxembourg”.     

For Stefano Bodrato, CEO of CRI Group, “The integration into VASS Group will boost CRI activities in European Institutions providing us with additional expertise in sectors such as ERP and cloud systems where we were not present. It will also allow us to better support partners and end clients with new technologies and methodologies, enhancing our added value and time to market”.

We are VASS

We are a leading company in digital solutions with nine headquarters in two continents (Spain, Brazil, Chile, Colombia, Benelux, Mexico, Peru, UK and USA) and a workforce of over 3,000 people. Thanks to our agile VASSXtreme methodology and its wide brand ecosystem (NATEEVO, Serbatic, vdSHOP, T4S Advance Solutions, Comunytek, ECENTA and VASS), we assist large companies in their digital transformation process, developing and executing the most innovative and scalable strategies from strategy to operation. We are fully committed to society, which is why the VASS Foundation was created in 2019 to promote research and training in the field of digital talent. We allocate 2% of our profits and the whole team 1% of their time to solidarity actions. All this growth arises from talent and passion for innovation and constant improvement, always our way: making the complex simple.

About OEP

One Equity Partners (“OEP”) is a middle market private equity firm focused on the industrial, healthcare, and technology sectors in North America and Europe. The firm builds market-leading companies by identifying and executing transformative business combinations. OEP is a trusted partner with a differentiated investment process, a broad and senior team, and an established track record generating long-term value for its partners. Since 2001, the firm has completed more than 300 transactions worldwide. OEP, founded in 2001, spun out of JP Morgan in 2015. The firm has offices in New York, Chicago, Frankfurt and Amsterdam. For more information, please visit www.oneequity.com.

About CRI Group

CRI Group, with its headquarters in Luxembourg, is a leading company in the European Institutions market offering IT Consultancy and Software Development projects to the European Commission, the European Parliament, the Council of European Union, and many European agencies. With its 30 years of experience, it is a reference in this market and a valuable partner of the most renowned European IT Groups for delivering successful projects of complex IT systems. With more than 300 IT specialists daily working in Luxembourg, Belgium, France, and Greece, CRI serves the most critical tasks of the European Union IT ecosystem.

www.vasscompany.com