The Telefonica unit (TEF) will boost digitization with the acquisition of Geprom – December 24, 2021

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Telefonica, SA‘s (TEF Free Report) the digital business unit, Telefonica Tech, has reached an agreement to acquire the engineering company – Geprom. The digitization of the industrial sector is one of the major priorities of the Telefonica subsidiary with a large portfolio of new-age services, including the application of artificial intelligence (AI) and cloud technologies.

Given Geprom’s strength in robotics and logistics, the acquisition will strengthen Telefonica’s digital capabilities, making its business more competitive and sustainable. The transaction will also boost Geprom’s transition to digitization of manufacturing or the Smart Factory, supported by additional capabilities and services.

Based in Spain, Geprom is an innovative software company specializing in the development and integration of cutting-edge technological solutions for large companies and small and medium-sized enterprises. These high added value solutions are particularly designed for Industry 4.0 where industrial automation is of extreme importance.

The engineering company is primarily focused on meeting the accretive demands of digitization, regardless of industry and production levels. A household name in industrial programming, automation and cloud computing, Geprom caters to various industries ranging from automotive and textiles to petrochemicals and smart cities. It is a strategic partner of Gefasoft GmbH.

The two entities had signed a global trade agreement in December 2020. They have extended their collaboration to focus mainly on capitalizing on best technologies such as Internet of Things, Big Data and AI to improve productivity and reduce overhead while making reality easier. decision-making over time with transparent logistics.

Besides strengthening the common portfolio with blockchain and predictive maintenance, the agreement has enabled companies to streamline day-to-day operations in the connected industrial environment through cutting-edge technologies. The companies aim to develop new business models and ensure the highest quality of manufactured products while digitizing warehouse processes in a secure and sustainable manner.

With the acquisition of Geprom, Telefonica will be able to enhance its broad value proposition and deep experience in areas such as infrastructure, connectivity and communications, while furthering innovation and digital transformation of the world. technology industry. The takeover is likely to further Telefonica Tech’s organic and inorganic growth plan.

Telefonica Tech launched a wave of purchases in 2021. It acquired Cancom UK&I (now Telefonica Tech UK&I) for € 398 million and Altostratus, a Google Cloud Premier partner for Southern Europe. She even worked with a cloud services company, acens, to complete the value proposition of IT services for small and midsize businesses. With more than 5.5 million B2B customers of the Telefonica Group, its digital business unit plans to continue its long-term momentum with double-digit growth.

Telefonica provides a full suite of service platforms for rapid market launches. Its IoT connectivity platform has been designed to meet dynamic business demands and enable a cost effective solution to improve business productivity. It capitalizes on the opportunities of the digital world through several growth strategies to improve long-term prospects while enjoying good traction in the smartphone market.

Telefonica currently has a Zacks Rank # 3 (Hold). Its shares gained 5.6% from the industry’s growth of 5.5% last year. You can see The full list of Zacks # 1 Rank (Strong Buy) stocks today here.

Image source: Zacks Investment Research

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