Telefónica Tech is adding enterprise applications and advanced data capabilities to Telefónica Tech UK&I’s portfolio of services through the acquisition of Glasgow-based Microsoft partner Incremental in a deal worth up to £175 million, including contingent payments linked to future performance.
Incremental was formed five years ago with the backing of Maven Capital Partners and Scottish Investment Bank, since when it has made a series of acquisitions including the strategic bolt-on of data specialist Adatis in October 2021, increasing headcount to 350.
José Cerdán, CEO of Telefónica Tech, said: “We warmly welcome Incremental Group, and are delighted that this acquisition enables us to strengthen our position as a leader in the UK market for IT services. We are now able to provide end-to-end Microsoft services, including digital transformation, managed services and data analytics, and achieve attractive cross-selling synergies with Telefónica Tech UK&I, complementing and positioning us as a leading Microsoft-focused company in the UK.”
Incremental was advised by accountancy and business advisory firm BDO LLP.