Narayan AmmachchiSpanish tech firm Indra is reportedly close to selling its business process outsourcing unit to Servinform, a fellow Spain-based company specializing in digital transformation services.
The BPO operation is part of Minsait, Indra’s technology services division, and generates around $16.2 million in annual revenue, according to Spanish business daily Expansión.
Indra put the unit up for sale after valuing it at about $108 million. The buyer, Servinform, was recently acquired by Anglo-Swiss private equity firm AS Equity Partners.
However, the deal is not guaranteed. Indra had previously tried — unsuccessfully — to sell the BPO unit back in 2011.
At the same time, Indra is also in talks with UK-based asset manager Pollen Street Capital to divest Minsait’s payments division, recently rebranded as Nuek.
If completed, these divestments will help ease the financial load Indra faces as it moves to achieve a key strategic goal: transforming itself into Spain’s national defense champion.
The BPO unit, part of the low-margin Minsait business, has long been on Indra’s chopping block. Analysts note that selling it aligns with the company’s broader strategy to offload non-core assets and drive inorganic growth in its priority sectors, especially defense.
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