One Equity Partners (OEP) has acquired Spanish IT consulting firm VASS. The financial details of the deal were not disclosed.
Based in Madrid, VASS focusses on digital transformation, helping European institutions like banks implement cloud infrastructure and other new-fangled technology. Clients include BBVA, Santander and Banca March.
The acquisition is meant to be a boost for the Spanish company, so that it may continue growing across Europe and maybe make a few strategic acquisitions of its own.
According to Crunchbase, the New York private equity firm, a sub-organisation of JP Morgan Chase, makes a handful of acquisitions each year. In 2020 OEP bought four companies, hailing from Vietnam, Germany, and the US. The firm claims over $6 billion in assets under management.