COFIDES will support the Barcelona-based technology company BMAT in its expansion in Italy. In order to finance the acquisition of 70% of an Italian company specializing in advertising monitoring, COFIDES has granted a loan of €500,000 under FONPYME.
BMAT specializes in music monitoring by means of proprietary software that allows it to track all music broadcast on television, radio, public spaces and digital platforms. The acquired Italian company is a leader in the monitoring and recording of content broadcast on Italian television. With this operation, BMAT strengthens its position in advertising monitoring in the Italian market.
COFIDES has been alongside BMAT in its international expansion process since 2019, when it financed the opening of its first two international subsidiaries (Argentina and USA). Later on, it financed acquisitions of companies in Japan and the USA, as well as the opening of a subsidiary in the UK.
This project also benefits from the COFIDES Impact program, which is part of the Recovery, Transformation and Resilience Plan. Through this initiative, financed by the European Union - Next GenerationEU, COFIDES supports investment projects that generate a positive impact on the achievement of the SDGs. Through COFIDES Impact, a bonus is provided through the variable sustainability component of the financing price, linked to the achievement of certain sustainable indicators. Thus, the bonus on the price of financing will be linked to the implementation of the principles of the UN Global Compact and the completion of annual progress reports.
The CIO of COFIDES, Miguel Ángel Ladero, stated that "it is very satisfying to support the international growth of companies like BMAT, specialized in innovation and technology." He also highlighted that "with its activity, BMAT contributes to the recognition of the property rights of authors, who see their work recognized in a fair manner."
The financial director of BMAT Music Innovation, Salvador Gurrera, pointed out that "COFIDES appellant support gives us the confidence and capacity to continue investing in our international growth through M&A and the creation of new subsidiaries." In addition, "the IMPACT program, which we have benefited from this time, pushes us even more to improve our ESG rating.”
ABOUT BMAT
BMAT is the Music Industry Operating System, a music innovation company with a mission to index all music ownership and usage data. It helps all companies in the music industry to ensure that artists receive fair remuneration for their reproductions. Every day it provides 27 billion IDs to collecting societies, publishers, labels, broadcasters and digital sales
ABOUT COFIDES
COFIDES is a state-owned commercial company specialized in managing State funds that provides financing for private investments to achieve various public policy objectives. For over three decades, it has been managing resources aimed at supporting the internationalization of Spanish companies, and since 2021, the FONREC, a fund aimed at strengthening the solvency of Spanish companies severely affected by the COVID-19 pandemic. COFIDES has been assigned the direct management of two new financial instruments: the Co+-investment Fund (FOCO), to attract foreign investment to Spain in activities mainly linked to green and digital transitions, and the Social Impact Fund, aimed at reinforcing the national ecosystem of impact investment. Additionally, COFIDES supports the Spanish Agency for International Development Cooperation (AECID) in managing financial cooperation resources. The Spanish state owns 53% of the capital, while the remaining 47% is held by Banco Santander, Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell, and the Development Bank of Latin America and the Caribbean (CAF).
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