Clearwater International advises Novabase on its sale of Neotalent to Conclusion
Clearwater International has advised Novabase Consulting Sgps S.A. (Novabase), on the sale of its IT staffing business through the disposal of all its shares in Novabase Neotalent S.A., corresponding to 95.003% of the shares representing the respective share capital, which holds the entire share capital of Novabase Neotalent España, S.A.U. (the latter two together as Neotalent), to Conclusion Group B.V (Conclusion), a Dutch business consulting and IT services company.
Founded in 1998 as a company of Novabase, Neotalent provides IT staffing services, in areas such as application services, cloud, data, and software engineering. The company also has a managed services business that provides nearshore support to clients in Portugal and Spain. Neotalent currently employs close to 800 employees and had a turnover of €47M in 2022.
Neotalent will continue to operate autonomously, maintaining its identity and development as a best-in-class nearshore player, leveraging its outstanding executive team and skilled professionals.
Founded over 25 years ago and headquartered in the Netherlands, Conclusion is an ecosystem of over 25 companies active in business transformation and IT services. With over 2,500 employees, the group has established itself as a leader in its home market, but with the backing of investor NPM Capital, is seeking to mirror its domestic success in foreign markets.
Following this acquisition, Conclusion strengthens its entry into the Portuguese market with the opportunity to grow a successful nearshore capability.
For Novabase, this transaction is part of its strategic plan, which aims to focus on IT services in the cognitive and analytics areas.