IT SECTOR, an international expert in digital transformation for banks and credit unions, has been sold to ALTEN

Lisbon, Paris – Corporate Finance International (CFI) is pleased to announce that it acted as the exclusive advisor to the shareholders of IT SECTOR in the sale of 100% of their company to ALTEN.

Founded in 2005 in Portugal by a team of industry specialists, IT SECTOR is an international expert in digital transformation in the financial sector. Acting in 20 countries with more than 500 employees, IT SECTOR serves as a one-stop shop for banks and credit unions, providing high value-added services and advanced technology across the whole value chain.

For ITSECTOR, this transaction represents business expansion and the promotion of knowledge in the markets where ALTEN operates. For Alten, this acquisition reinforces its international presence and its coverage of the financial sector.

Created in 1988, and based in 25 countries with 37,000 employees, ALTEN is a European leader in Engineering and Technology Consulting. The company carries out design and research projects for the Tech and IT divisions of major clients in industry, telecoms and services. ALTEN’s stock is listed in compartment A of the Euronext Paris market (ISIN FR000001946); it is also in the SBF 120, the IT CAC 50 index and MIDCAP100.

This process was conducted by the Portuguese and French teams amongst international industrials and private equity firms. The company showed great resilience to the COVID-19 pandemic, and the process resulted in a successful transaction with ALTEN on December 22nd, 2020.