Telefonica (TEF) Unit to Boost Digitization With Geprom Buyout

Telefonica (TEF) Unit to Boost Digitization With Geprom Buyout
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Telefonica, S.A.’s TEF digital business unit, Telefonica Tech, has secured a deal to acquire engineering company — Geprom. Digitization of the industrial sector is one of the Telefonica subsidiary’s major priorities with a broad portfolio of new-age services, including the application of artificial intelligence (AI) and cloud technologies.
Given Geprom’s strength in robotization and logistics, the acquisition will reinforce Telefonica’s digital capabilities, making its business more competitive and sustainable. The transaction will also boost Geprom’s transition toward manufacturing digitization or Smart Factory, backed by additional capabilities and services.
Based in Spain, Geprom is an innovative software company that specializes in the development and integration of avant-garde technological solutions for both large corporations and small and medium-sized businesses. These high value-added solutions are particularly designed for Industry 4.0 where industrial automation holds extreme importance.
The engineering company primarily focuses on addressing the…

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