Dutch company Conclusion, which bought Novabase’s tech recruitment business for €51 million, is gearing up for new acquisitions in Portugal and Spain as part of its Iberian growth plan. Owned by private equity firm NPM Capital, Conclusion focuses on cloud, data, and AI, supported by a €410 million refinancing completed in 2023. After acquiring German firm Diva-e, the company now turns its attention to Iberia, aiming to exceed €250 million in revenue by 2030.
Conclusion Iberia’s CEO, Célia Vieira, leads the expansion strategy and highlights the importance of talent in Portugal as a key investment driver. The group plans to replicate its Dutch model of five tech domains locally, including digital experience and cloud storage.
Despite macroeconomic uncertainties slowing decision-making, the company sees ongoing opportunities. With over 1,000 employees in Iberia and a current turnover around €60 million, Conclusion aims to strengthen its market presence through targeted acquisitions and internal synergy, including a new shared Lisbon office.
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