Spain-based IT company Telvent has reached an agreement with Navarre for Administration Management to acquire 20% of its holdings in S21sec, a company specializing in computer security, over a maximum three years. This acquisition, along with 5% that was transferred from a related party in October, will give Telvent a 25% ownership interest in S21sec.
Telvent will execute the transaction to acquire Navarre for Administration Management’s (NGA) 20% in two different stages. The first phase for the initial 10% took place on November 23, 2007, and the remaining 10% will be acquired over a period not to exceed three years. This investment will be integrated into Telvent’s global services division, thus strengthening the company’s position in the technological security segment.
The company believes that the acquisition will strengthen Telvent’s leadership in the digital security world, and deepen its commitment to S21sec’s business project technology and Navarre, an innovative region in Spain seeking to develop infrastructure projects in the fields of communications and information technology.
The acquisition represents the synchronization of S21sec and Telvent’s goals, which are focused on risk prevention and people and organization management in the digital world, as well as promoting a stronger security culture among Spanish businesses and institutions.