Colombia’s Siigo Acquires Mexican Rival Aspel

Colombian enterprise software and networking vendor Siigo Group has acquired its Mexican rival Aspel in an apparent bid to gain access to Mexico’s growing small and medium enterprises.

With more than 2,800 employees and 7,000 distributors, Siigo has a presence in five countries across Latin America, including Ecuador, Uruguay, Peru, and Chile.

For Siigo, which has grown 7 times in the past four years, Mexico offers a huge opportunity. The Colombian vendor says it would invest US$20 million to create a cloud ERP solution for the Mexican market.

“We are constantly improving our platform as we expand and will be bringing even more features and capabilities to Aspel’s distributors and customers who join over 300,000 SME’s already using our cloud software in South America,” says David Ortíz, CEO of Siigo.

There are more than 4 million micro, small, and medium-sized enterprises in Mexico, according to the country’s National Institute of Statistics and Geography.

Aspel claims to have facilitated the digital transformation of more than 1 million SMEs in the country in the past 40 years.

“This is a natural partnership for Aspel and represents an opportunity to expand the performance of our solutions and deliver needed services to hundreds of thousands of customers,” says Emilio Icaza Chávez, President of Aspel.