Grupo Sando, one of the leading companies in the construction industry, moves into the technology sector with the acquisition of 24.5% of AT4 Wireless, a company located in Malaga’s Technological Park and previously known as CETECOM.
The operation was done through a capital increase in which Grupo Sando paid €3.4 million. The rest of this capital increase, whose total is of €4.5 million, has been subscribed by El Monte and Caja de Ahorros de Huelva y Sevilla.
The participation of Grupo Sando in AT4 Wireless has been completed with the purchase of a block of shares from IDEA, the Andalusian Agency for Innovation and Development, through Soprea, which has handed over to Sando part of its participation for €2.6 million. In this way, Grupo Sando’s total investment reaches €6 million. Taking both operations into consideration, the capital ownership of AT4 Wireless is as follows: Soprea 29.39%, Grupo Sando 24.52%, El Monte 24.52%, Veiasa 20.01% and Sadiel 1.55%.
This operation means that Grupo Sando continue their policy of diversification by entering a strategic industry like the high technology sector, where it was not present until now. The business participation is permanent and is a recognition by Grupo Sando of the technological capacities of Andalusian business.
Furthermore, the entry of the construction company into the shareholders of AT4 Wireless is a support for its commercial development, opening up new possibilities and joint strategies, as well as complementary dynamics whose synergies will create added value for both companies.
With the capital increase, AT4 Wireless will make it easier to access strategic international markets, once the aims of the previous cycle have been achieved: increase the company’s growth, from the point of view of activity and as regards employment creation, turnover and international projection. Currently, 80% of the company’s sales are abroad.
AT4 Wireless (previously CETECOM) was founded in 1991 as the first telecommunications laboratory in Andalusia, with the Andalusian Regional Government as a majority shareholder. Currently the company provides its customers with solutions and technologies so that products and services are safe, authorised and more efficient for the following areas: measurements and tests, engineering and technical assistance, applications and systems.
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