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Porto tech company acquired by French giant moves to new office complex

Porto tech company acquired by French giant moves to new office complex
15 Jan 2021
Alten, a world leader in consultancy and technological engineering, acquired the Porto tech company ITSector. The purchase can boost the pace of hiring and business expansion of the company that employs 600 people.

Jobs, including administration, remain unchanged. What will change is the physical location of the headquarters: the company is preparing to open facilities in the Porto Office Park building, in Boavista, distinguished as "Best Office Development of the Year".

Renato Oliveira, CEO of ITSector, highlights,"the vast set of opportunities and potential synergies that are now approaching, including the expansion of business and the growth of ITSector's knowledge regarding the digital transformation of the financial sector in the markets where Alten operates".

In 2020, the technology company hired more than a hundred employees. And, with the sale to Alten, there is "a great potential to maintain the pace of hiring and growth". Last year, the company attracted new customers, in Portugal and abroad, "revealing its great capacity to respond to the situation pandemic", can be read in the company's statement.

With around 600 workers and six development centers in Porto, Lisbon, Braga, Aveiro, Bragança and Castelo Branco, ITSector had a turnover of 13 million euros in the first half of 2020 alone, which represents an additional 25% of turnover in relation to the same previous year.

After being bought by a French giant, the technology guarantees that "it will keep its DNA as an innovative company in the financial sector, directing its competencies to help banks and credit unions implement their digital transformations".

Alten, the new owner of ITSector, develops consultancy in the technological area and is listed on the Paris stock exchange. With a turnover of 2.6 billion euros in 2019, it has more than 37 thousand employees spread across 32 countries.

Moving to Porto Office Park

ITSector is already packed to move to the new Porto Office Park (POP), which last year was distinguished as "Best Office Development of the Year, by the Real Estate Awards".

The Porto Office Park project was born at the former STCP bus collection station on Avenida de Sidónio Pais and has 31,500 square meters of construction area, divided into two office buildings with nine floors each and surrounded by a 15 thousand square-meter green area. Since June last year, it has been welcoming Concentrix, a company specialized in outsourcing and providing technical support and customer interaction services, which employs around 500 people in Porto alone.

Despite the current circumstances, the city has been able to maintain its business dynamism, as shown by the results of a study carried out during the most critical period of the pandemic, according to which international companies continue to settle in the city. This fact is reflected in the leasing of offices, which also showed no signs of curbing, on the contrary, growing by 38%.