Cegid, Cegid Meta4 in Portugal - a leading global specialist in cloud management solutions for professionals in the areas of Finance (ERP, Treasury, Tax), Human Resources (Payroll and Talent Management), Accounting, Retail, for Entrepreneurs and Small Businesses - announces the final signature of the acquisition of the Primavera Group - one of the main enterprise management software platforms in the Iberian region. The new entity will give birth to an Iberian leader and will allow Cegid to accelerate its international development. As of today Grupo Primavera becomes Grupo Primavera, the Cegid Company.

On July 26, Cegid announced its intention to acquire the Primavera Group and today confirms the finalization of the purchase. The new entity has more than 1,300 employees, 700 partners and a pro-forma turnover in the Iberian Peninsula that should reach 150 million euros this year.

In the Iberian Peninsula, these solutions join those already marketed by Cegid for Retail, Supervision and Human Resources professionals, in particular with the Cegid PeopleNet and Cegid Talentsoft products.

The merger of the Primavera Group with Cegid will allow it to accelerate its growth, especially internationally, with solid development prospects in Latin America, where Cegid has a strong presence.

"We are very pleased to have completed the acquisition of the Primavera Group. Following the acquisitions of Meta4 in Spain in 2019 and more recently, VisualTime, joining the Primavera Group confirms Cegid as a leading provider of cloud-based management solutions worldwide and reinforces its leading position in the Iberian Peninsula. Leveraging our leading accounting position in France, the Primavera Group allows us to reinforce our strategy in this promising sector in other countries and strengthen our strong presence in Europe," said Pascal Houillon, CEO of Cegid.

Santiago Solanas, the management team and the 800 employees of the Primavera Group join Cegid as of today. Santiago Solanas reports directly to Pascal Houillon and is responsible for the entire Iberian region and Latin America.

"Santiago is a very experienced leader who has managed to develop and position the Primavera Group as a leading software company in just a few years. He will make sure that all our customers are followed, regardless of sector, and will promote our useful and innovative solutions in these two regions of the world, which are key to Cegid's continued development," concludes Pascal Houillon.