mynth
02/2015

NSPYRE acquired by ALTRAN TECHNOLOGIES

NETHERLANDS IT Services / Consulting & Integration / Custom Dev EV €50–150M

Context

Altran has finalized the 100% acquisition of Nspyre, a move that establishes the group as the dominant technical consulting organization in the Benelux region. This strategic transaction marks a significant milestone in the group’s expansion strategy, moving beyond its core European markets to secure a leading position in the Dutch and Belgian technology sectors. The strategic rationale for the acquisition centers on the convergence of high-level software engineering and industrial automation capabilities, which are essential for the group’s "Intelligent Systems" and "Lifecycle Experience" solution sets. By integrating the target’s specialized workforce, the acquirer significantly bolsters its regional operational density, particularly in the Netherlands. The partnership is designed to leverage the target’s deep vertical expertise in industrial automation to serve a broader international client base. Furthermore, the integration allows for significant commercial synergies, as the target’s high-margin service profile is expected to enhance the group's overall profitability and earnings per share. This transaction reinforces the group's standing as a primary consolidator in the European engineering and R&D services market, enabling the delivery of comprehensive innovation advisory to complex industrial ecosystems.

NSPYRE, which reported an EBITDA margin of [members only] in 2014, is valued in this transaction at an EV/EBITDA multiple of [members only], to compare with the average currently observed in the TMT (Tech, Media, Telecom) sector (14.7x).

-> Deep-dive in TMT (Tech, Media, Telecom) market trends

Target

Nspyre is a specialized technology services organization headquartered in the Netherlands, focusing on the intersection of software development and mechanical engineering. The organization’s business model is built on providing high-level technical expertise to industrial clients seeking to modernize their automation and lifecycle management processes. Its value proposition is centered on delivering mission-critical R&D services, ranging from embedded software engineering to complex industrial automation solutions. Strategically, the firm prioritizes specialized technical proficiency over broad horizontal scale, positioning itself as a niche leader within the Northern European engineering landscape. By integrating advanced software capabilities with traditional industrial engineering, the firm facilitates the digital transformation of manufacturing and research sectors. The entity operates as a technical partner for enterprises across various industrial verticals, ensuring operational efficiency and product innovation through high-margin technical advisory.

Ent. Value

€50–150M

Equity Value

[members only]

Multiples

EV / Revenue

[members only]

EV / EBITDA

[members only]

EV / EBIT

[members only]

Historical Financials (EUR)

Year
Rev
EBITDA
EBIT
2014
€50–100M
[members only]
[members only]
2013
€50–100M
[members only]
[members only]

Similar deals in IT Services

Similar deals in IT Services

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
07/2016EQUISTONE / GEIADISTAFRANCEMSP (Managed Services)
06/2016RANDSTADAUSYFRANCEConsulting & Integration
07/2015THE CARLYLE GROUPEVERNEXFRANCEMSP (Managed Services)
05/2015COBEPAEXCLUSIVE NETWORKS GROUPFRANCEIT Distribution & Channel
08/2014GEMALTOSAFENETUNITED STATESCybersecurity Services
05/2014GFI INFORMATIQUEAIRIALFRANCECustom Dev
10/2013NTT DATA CORPORATIONEVERIS GROUPSPAINCustom Dev
07/2013EURAZEOEVERNEXFRANCEMSP (Managed Services)
01/2011ATRIA CAPITAL PARTENAIRESEVERNEXFRANCEMSP (Managed Services)
05/2010APAX PARTNERSTIVITBRAZILMSP (Managed Services)

REFERENCES

Valuation range: EV €50–150M

Revenue range: €50–100M

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of NSPYRE by ALTRAN TECHNOLOGIES are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.