Telefónica Tech UK&I has its sights set on being the “leader in cloud and cyber in the UK and Ireland”.
Having acquired Cancom’s UK & Ireland business for €398 million in July, Spanish carrier Telefónica has renamed the business as Telefónica Tech UK&I.
Hess said he expected the 600-strong UK business to receive an influx of investment under its new owner.
“The big difference between Telefónica Tech and Cancom is the level of investment they will make to help us grow in the UK and Ireland”, Hess said.
“The ambition is to be the leader in cloud and cyber in the UK and Ireland, and I think they have the wherewithal to help us get there.”
The newly rebranded business – which is based on several acquisitions including OCSL and Novosco – will remain operationally independent under Telefónica, Hess said.
“It’s really important that we keep the agility and dynamism that comes with a medium-sized company”, he said.
Telefónica Tech will invest in just four markets, in the form of Spain, Germany, Brazil and the UK, Hess added.
“They realise that if they want to be leaders in cloud around the world, they have to be leaders in the UK. They see the UK as a very attractive market”, he explained.
