COFIDES supports the international growth of Optare Solutions, a Galician company specialized in developing solutions for telecommunications operators. Thus, it has granted a €238k loan from the Fund for Foreign Investment Operations of Small and Medium Enterprises (FONPYME) and COFIDES' own resources.
With this loan, the company will finance the acquisition of the Mexican company Cinko Shared Service Center, hoping to expand its services and strengthen its position in the Mexican market, where it has been present for 10 years and in which holds prospects for sustained growth.
The project contributes significantly to the achievement of Sustainable Development Goals (SDGs) 5, Gender Equality, and 8, Decent Work and Economic Growth.
The corporate director of COFIDES' Investment Department, Miguel Ángel Ladero, stated that "COFIDES supports companies that are committed to innovation and technology, essential aspects to address the challenge of digitalization." He also stressed that "companies such as Optare Solutions stand out for their ability to generate qualified and high-value employment."
Luis Alvarez-Sestelo, CEO of Optare Solutions, highlighted: "This transaction is an important step in our growth strategy in LATAM. The acquisition of Cinko Shared Service Center will enable us to reinforce our service offering and strengthen our presence in a key market such as Mexico. We are grateful for COFIDES' support in this process, which will help us to continue promoting the digitalization and operational efficiency of our clients."
ABOUT OPTARE SOLUTIONS
Optare Solutions is a leading services consultancy in the telecommunications sector, specialized in providing innovative and customized solutions for operators. With a focus on network optimization, customer experience management and advanced analytics, Optare Solutions is dedicated to helping its clients achieve operational excellence and remain competitive in an ever-evolving marketplace. With almost 150 professionals and presence in 5 countries, the company has carried out more than 2000 projects in more than 25 countries, collaborating with more than 30 telecommunications operators. Since October 2024, Optare Solutions has been a listed company on the BME Growth market (BME: OPTS), which opens up new opportunities for its international expansion and development.
ABOUT COFIDES
COFIDES is a state-owned trading company that manages financial funds from the Spanish State, as well as its own resources and those of third-party institutions with various objectives: the internationalization of the Spanish economy, the attraction of foreign investment into strategic sectors in Spain, the promotion of the impact economy in Spain, and the contribution to the development of the countries in which it invests. In addition to the State, which holds a majority position, other shareholders include Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and CAF–Development Bank of Latin America.
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