Wilmington Acquires Spanish RegTech Firm Conversia for €121.6 Million
Why we think this is neutral
This RNS announcement details Wilmington's proposed acquisition of Conversia, a RegTech software business in Spain. While acquisitions can be strategic for a company's growth, this announcement does not contain any of the mandatory news types that would warrant a more positive or negative sentiment score. The details provided are informative but do not indicate a significant impact on the company's performance or outlook.
Key Points
- Wilmington to acquire Spanish RegTech firm Conversia for €121.6 million
- Conversia is the market leader in an addressable target market of 3.2 million SMEs and homeowner associations in Spain
- Acquisition expected to be earnings enhancing and expand Wilmington's position in GRC Data Privacy markets
Summary
Wilmington plc (LSE: WIL) has agreed to acquire, subject to Foreign Direct Investment clearance in Spain, RegTech software business Professional Group Conversia, S.L.U. ("Conversia") from Arraigo Midco, S.L. for a cash consideration of €121.6 million (£105.0 million). Conversia operates in the Spanish GRC and regulatory compliance market, providing proprietary RegTech documentation generation software solutions, primarily in the Data Privacy sector. The acquisition is expected to be earnings enhancing and expand Wilmington's international position in GRC Data Privacy markets.