Indra is taking steps in search of the objective that its new CEO, José Vicente de los Mozos, has set, and that will be reflected in its next strategic plan: to become a driving company in the Defense sector and to exert the spearhead outside of national borders to be eligible for competitions in other countries. In recent weeks, the company owned by the State has acquired stakes in companies that have been under the radar for a long time.
The last of these acquisitions was closed this Thursday. Indra and the Oesía Group acquired 60% of Epicom, a subsidiary of Duro Felguera specialized in Defense. The State Society of Industrial Participations (SEPI) exercised the purchase option on this company considered strategic for national security. The operation was valued at 5.3 million euros.
Epicom has a strategic nature for the State. SEPI already acquired 40% of the company from Duro Felguera in 2021 and reserved a purchase option for the remaining 60% that it has just exercised. The state company gave entry to Indra and Oesí through a competitive process. "With this operation, SEPI is committed to a public-private collaboration that allows the growth and stability of Epicom, and ensures and protects strategic capabilities in relation to national security," the company dependent on the Treasury stressed yesterday in a statement.
Duro Felguera, for his part, assured in a relevant fact sent to the CNMV that with the sale of Epicom “he complies” with the agreement of the Council of Ministers of July 4, 2023 that imposes the sale “as a condition precedent to the authorization of the entry of foreign investors in the share capital increase agreed by the general meeting of April 13, 2023.”
Only a month before the first operation of the De los Mozos era took place. It was an old aspiration of Indra. The company acquired 9.5% of ITP Aero for 175 million euros, after reaching an agreement with Bain Capital Private Equity, the fund that owns the Basque company specialized in the manufacture of aircraft engines. Indra also agreed to have a representative of ITP Aero sit on the board of directors.
Both companies highlighted that with this operation “they establish the bases for a strategic technological collaboration with the objective of enhancing its value, taking advantage of synergies and promoting the joint development of systems and technologies, including developments resulting from cooperation in the FCAS, the program of the future. European air combat system, of which Indra is the national industrial leader.”
They are the first two more operations to come. This was the declaration of intentions of José Vicente de los Mozos, who is preparing Indra's strategic plan for the coming years. He plans to announce it during the first quarter of next year.
In addition to these two purchases, Indra signed a strategic agreement with Oesía and another with Navantia in July. The objective is to establish a “long-term cooperation to improve the global offer of critical solutions for the Spanish Armed Forces and Security Forces and Corps.”
In addition, Minsait, Indra's technology subsidiary, has also made its own acquisitions. In the last few hours, the company has announced the purchase of the Catalan telecommunications consultancy Nae. “Minsait thus strengthens its end-to-end value proposition, promoting a strategic area for the company with great growth potential, accelerating the digital transformation of companies and enabling the deployment of innovative solutions in all industrial sectors, in areas such as 5G, artificial intelligence, the internet of things or the automation and robotization of processes," the company explained.
