Smart4 Engineering has acquired Closer Consulting

Lisbon – CFI is pleased to announce that it acted as the exclusive corporate finance advisor to Smart4 Engineering in its acquisition of Closer Consulting, a Portuguese data science company specialized in business intelligence, advanced analytics and artificial intelligence.

Smart4 Engineering, a company headquartered in France, draws strength from a diverse range of entities within the technology sector. Leveraging the complementary business models across their portfolio, Smart4 Engineering effectively addresses industry challenges by harnessing the high-level expertise of each entity. With a global presence in 8 countries, they boast a team of over 3200 employees and generate revenues exceeding 250 million euros.

Founded in 2005, Closer Consulting stands as a prominent AI and Data Science company with its headquarters in Lisbon. Focused on addressing the long-term operational and BI requirements of their clients, the firm delivers services such as data strategy consulting, customized projects, outsourcing of specialized IT and data professionals, and nearshore services. With a team of over 350 professionals spread across Portugal, the United Kingdom, and Brazil, Closer Consulting has successfully achieved revenues amounting to 18 million euros.

Fernando Matos, partner and co-founder of Closer Consulting: “Closer has established itself as a benchmark company in the data and AI sector. We are enthusiastic about the Portuguese market, but following our internationalization strategy, there is a clear objective to go even further. It is true that we have been expanding our activity abroad, but with this integration into the group, which in addition to its robustness also shares our vision, we will have a structure with know-how and presence in different geographies, which will allow us to act assertively in the different target markets. We are very excited about this collaboration, which will allow us to offer a wide range of new products, skills and experience to our clients.”

Cyril Roger, CEO and chairman at Smart4 Engineering: “Closer Consulting is the ideal Portuguese partner to join the group. Their reputation, management and competence are indisputable and guarantee us a solid entry into the Portuguese market. We are very focused on the autonomy of the group’s companies and on creating an agile international organization of companies specializing in digital skills that we believe will be a European benchmark in this field – and of which Closer is now a part.”

This transaction is expected to close on 22 December 2023.


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