About the transaction

BlueBull, the investment banking firm specialized in technology-driven and high-growth companies, acted as the exclusive financial advisor to Nae shareholders on its sale to Minsait, a company of Indra group.

Minsait has acquired a stake in Nae with the intention of becoming the leading provider of IT Consulting services focused on the Telecom industry in Spain and LATAM and accelerating its penetration across Europe and other new markets.

Founded in 2004 and headquartered in Barcelona, Nae is the leading Consulting firm focused on the telecom sector. Nae helps its clients to identify and activate new levers of transformation and value creation in the end-to-end of their value chain providing services across its 4 central business units, Technology, Customer, Operations and Deal Advisory. The Company has offices in Spain and Colombia, serving as its European and Latin American hubs.

BlueBull acted as an exclusive financial advisor to Nae shareholders, analysing all the available options and negotiating the best possible transaction outcome for both sides. The combination will create the undisputed leader in the telco consulting sector in Spain and Latin America.

About Nae

Founded in 2004 and with an annual turnover of more than €30 million, the company’s growth path is based on its sectorial expertise and high level of customer satisfaction and loyalty.

As Telecom Industrial Experts, Nae is organized into 4 BUs to transform and impact its customers’ entire value chain from Corporate Strategy, Sales, Customer and Marketing areas to Operations and Technology.

Nae works with the most relevant players in the Telecom sector, from the main telecommunications operators to large corporations and public administrations with complex digital infrastructures and services.


Continental hubs: Spain & Colombia


Revenues 2022A



About Minsait

Founded in 2016, Minsait is an Indra Company with HQ in Madrid. The buyer is the leading IT Consulting and Digital Transformation firm in Spain and Latin America, with revenues of more than €2.500 million in 2022A.

The Company designs, builds, implements, and operates innovative solutions and services that drive their clients’ businesses forward, through specialized teams that collaborate in a multidisciplinary manner.

The Company offers services such as business consulting, IT and digital transformation, networks & communications in sectors such as telecom & media, public administrations, consumption and energy.


Countries with presence


Revenues 2022A



"BlueBull's expertise in structuring transactions played a pivotal role in securing the most favourable terms for both parts, ultimately leading to a successful and fruitful outcome"

Cristóbal Escoda
Co-CEO & Founding Partner Nae

Antoni Ibáñez
Co-CEO & Founding Partner Nae

BlueBull is a leading investment bank with a presence in Southern Europe, specialising in advising technology and high-growth companies with disruptive and innovative business models.

More information

Joaquín Durán
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Francesco Crovace
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Luis Patiño
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Noel Romeu
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