Telefónica Tech Signs Deal To Buy Geprom

(RTTNews) - Telefónica Tech said that it has signed a contract to buy Geprom, a technology-based engineering company headquartered in Spain specialising in industrial automation and the digital transformation of existing factory production processes.

With the acquisition, the company will strengthen the capabilities of its Internet of Things (IoT) and Big Data division, led by Gonzalo Martín-Villa, Telefónica Tech said in a statement.

Geprom has over 40 professional experts.

Telefónica Tech said it closed the first nine months of the year with a 25.5% increase in revenues and expects to continue with double-digit growth thanks to the opportunity represented by the Telefónica Group's more than 5.5 million B2B customers.