Loop Future has bought a majority share in Able IT, a Portuguese tech company, as part of its plan to grow internationally. The exact cost of the deal hasn't been shared, but it shows Loop Future is serious about reaching a total sales of €20 million by 2025, with 75% of that coming from overseas.
Able IT focuses on low-code tools, mainly using OutSystems and Appian.
By buying Able IT, Loop Future is better positioned to compete in the growing low-code development area and improves its technology services both in its home country and around the world.
João Bernardo Parreira, who leads Loop Future, said, “This partnership helps us be more flexible, focused on customers, and ahead in technology.
Able IT has strong skills in OutSystems, which fits well with our goals. ”
Able IT has been named OutSystems Partner of the Year three times and has worked on projects in banking, healthcare, retail, and automotive.
The founders, Carlos Vaz and Bruno Fonte, said they feel the company culture matches with Loop Future and are hopeful about what they can achieve together in Portugal and other countries.
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