From the left: Javier Gómez García-Tenorio, Eero Tohver, Raúl Gil García and Fernando Hoshino Orgaz.
Uptime, an Estonian-headquartered software development company, has expanded its pan-European footprint once more, acquiring a majority stake in Madrid-based software development company Unatec ICT. The acquisition adds nearly 40 employees to Uptime’s 200-plus member team and brings several major energy companies to its client portfolio.
“Unatec has been developing complex and innovative custom IT solutions for more than a decade, focusing on long-term partnerships and serving their clients’ critical business needs,” said Eero Tohver, Uptime CEO. “They share our core values, and their drive to grow, their outstanding client base, and their technology portfolio align well with our current operations, ambitions, and strategic goals.”
Unatec specializes in developing and managing software solutions for the energy industry, ranging from renewable plants operation to energy distribution optimization. The company’s clients include major energy players like Naturgy, Repsol, Iberdrola and Endesa which all which rank among the top companies in Spain.
Tohver said the move into the Spanish market is a part of the company’s strategy to grow its business through strategic partnerships, whilst also strengthening its ever-growing industry expertise. He highlighted the energy sector as a key area of growth for Uptime. “A significant portion of the world is transitioning to renewable energy, and this shift is creating extensive opportunities for IT companies,” he said. “We have been working in this space for years in Estonia and Denmark, so Unatec’s vision aligns well with our long-term goals.”
According to Tohver, the Spanish IT market has been undervalued as of late, but appears ready for growth. “When you look at the numbers, it’s clear that Spain is an increasingly important market, and more European companies are recognizing its potential. We see it aligns well with our strategic goals and are sure that the Madrid-based company will be a strong addition to our group,” he said.
Raúl Gil García, CEO of Unatec, said joining Uptime Group will give the company access to greater resources and new clients, supporting its future growth. “We saw a natural fit with Uptime’s leadership, and this partnership benefits us all. Uptime has established itself as a key player in the European IT-space, and we are excited to work alongside our new colleagues from Estonia, Poland, Denmark, Norway, and Switzerland,” he said.
Unatec will continue to operate with its current team and leadership structure following the completion of the deal.
Founded in 1992, Uptime now operates in six European markets, including Estonia, Spain, Poland, Denmark, Norway and Switzerland. “We will continue to seek expansion opportunities across Europe,” Tohver said. “Our strategy is to find companies with whom we can build long-term partnerships, while offering the support of Uptime’s resources and expertise.”