Aitec and Favvus announce merger

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The Aitec and Favvus groups formalized a merger agreement that came into force on 1 January 2009. Link, the name of Aitec’s largest company, was the trade name chosen for the new business.

Consolidating the activity of the various companies and growing sustainably are the main objectives of the agreement, which arises through an exchange of shares between shareholders.

The resulting company «will reinforce partnerships with customers, suppliers and other entities and, above all, will value its main assets, its customers and its employees», it refers in a press release.

«The Aitec and Favvus groups have a high degree of complementarity, so the synergies are enormous. In particular in management solutions, where together we have around 100 customers, the concentration was desirable because this is how the first truly solid structure in Portugal is created for withstand an installed base of this size with quality, without undermining the high growth rates that we have maintained in recent years «, stresses Helder Varandas, president of Favvus.