Econocom, a Belgian digital services company, announced that it has closed on a €150 million. Schuldschein-type loan. It was signed at an average rate of 1.54% and with tranches maturing 5 and 7 years. The operation was handled by BNP Paribas, ING and Société Générale Corporate & Investment Banking.
The Belgian digital services company said the cash injection will allow it to pursue its growth strategy, both organically and through acquisitions.
The new funding should give Econocom the means to pursue and intensify its external growth strategy. Through its acquisitions, the Group intends to strengthen its expertise in “developing mobile applications and internet, e-health, multimedia and digital transformation consulting.” Another goal of Econocom is to continue its expansion in Western Europe. Alongside Belgium, ESN center for now its development in France, England, Germany, Spain, Italy and the Netherlands.
Econocom acquired the French company Osiatis (with its 3,600 employees) in 2013, and AlterWay, a French open source leader in 2015. Present in 19 countries, the group now has 9,000 employees. At the end of 2015, it reported turnover of €2.3 billion euros, compared to €2.1 billion the previous year.
Read more: Journal du Net (French)