Vass, the Spanish digital solutions consulting firm owned by the private equity firm One Equity Partners (OEP), sets the goal of reaching 1 billion in turnover in 2026. Founded in 1999 by the current CEO, Javier Latasa, It began as a family business, but, by acquiring companies in the sector in different countries, it has managed to expand its horizons until closing 2022 with 272 million in sales, 20% more than a year before. This year the forecast is to reach 400 million. Vass is present today in 26 territories, already has more business outside of Spain and has around 4,700 employees.
“What Vass does is provide digital solutions to clients of all types; That is, we solve real business problems of any kind; To give an example, we can improve the management of digital mortgages, help a bank capture customer deposits or implement a system to reduce a company's administrative costs by 30% through the use of artificial intelligence," explains Latasa from the headquarters. of technology on the outskirts of Madrid. And who are those clients? “Large corporations, mainly.” From the industrial, financial, telecommunications or administration sectors. Our most mature clients are banks and energy companies,” adds the president.
Vass's strategy is clear. Continue buying national and international companies. In the last two years it has acquired eleven. One of them in Catalonia, a little over a year ago. This is Movetia, a company with experience in the digital solutions market. “If you look at Vass two years ago and now we are a much more relevant company in the Catalan market and, therefore, we consider that operation a success,” says Javier Latasa.
The method used by Vass to coordinate the companies it acquires in other countries is internally called Global Play. It consists of a client from New York, Stockholm or Frankfurt recognizing the consulting firm's base model and relating, in turn, to a nearby company. “A work philosophy that implies that in Sweden we are Swedish, in Mexico we are Mexican and in England we act like British, but with the support of Vass,” defines the company's main executive.
Vass' strategic plan involves scaling up through the aforementioned acquisitions and orienting its business towards the international arena, although without ruling out the national market. The two territories on which the consulting firm has its sights set are America, that is, the United States and Canada, mainly; and northern Europe, where the focus is on England, the Nordic countries and Germany. Technology companies are sought in these countries. Asia, however, is not a priority market for the consulting firm. Because? “We have an office in Singapore, from which we serve clients in Japan or Australia. I'm not saying that Asia is not relevant, just that in the order of importance it is in a lateral situation,” Latasa details.
For Vass, the entry of One Equity Partners, an American firm based in London, was a turning point. “A fund makes you professional and gives you credibility in terms of access to international markets; When you are going to acquire a company, having OEP with us is not the same as going alone, investment banking is key,” says the manager.
Two of Vass' priorities right now are artificial intelligence and retaining tech talent. Regarding the first, the company is clear that it is a priority line of business in which it has been working since 2020. “It is a technology that is beginning to mature and is now for social consumption. For us it is important, so much so that we have acquired the leading artificial intelligence company in Spain, Intelygenz, a company with 70% of the business in Spain and 30% in the US.” For Latasa, AI is one of the most powerful transformations in technological history. “The biggest changes have been that of mobile telephony and the internet; Now artificial intelligence is being incorporated and, therefore, there is a huge business opportunity, but also a threat for those who do not know how to take advantage of the changes,” the manager points out.
The absence of digital talent is another concern for Vass. “Our profiles are highly specialized and are scarce. We also compete with the most powerful technology companies and banks,” she laments. “Logically, if you are not an attractive company and you manage to retain that talent,” you have a problem. To try to solve this, Vass has a foundation to be able to incorporate more professionals into the technology sector.
