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Telefónica Tech shows impressive business growth

Telefónica Tech shows impressive business growth

Telefónica Tech, the niche IT services business that operates in Spain, Germany, Brazil and the UK, saw its revenues jump 69% to €368m in the third quarter.

That performance followed a 72% increase in revenues in the first six month of the year.

Telefónica Cybersecurity & Cloud Tech and Telefónica IoT & Big Data Tech - the two business areas that make up Telefonica Tech - grew by 73.7% and 59.4%, respectively, in the first half of the year.

Telefónica Tech is a business unit of the global Telefónica group, and currently only makes up about 3.5% of its parent’s revenue, but with its incremental growth far greater, this share is set to substantially increase.

This March, the UK Telefónica Tech operation acquired Incremental, a growing Microsoft Dynamics partner.

Last week, Telefónica Tech unveiled a new Customer Experience Centre in London, based at its UK headquarters, to further help build up its sales and partner alliances.