Advent International partners Cemex and invests in NEORIS

 Advent International partners Cemex and invests in NEORIS
27 July 2022

Advent International is partnering with CEMEX to accelerate the growth and development of NEORIS. As a global provider of tech consultancy and digital transformation services, NEORIS will strengthen its capabilities and reach through Advent’s expertise in the space. 

With Advent’s support, NEORIS will deepen its focus on artificial intelligence, data science, cloud solutions, and automation, etc. These verticals are aligned with CEMEX’s priorities for its continued digital transformation. NEORIS will also continue focussing on strategic industries such as financial services, telecommunications, media, manufacturing, retail, and consumer packaged goods, among others.  

“We are excited that Advent is investing in NEORIS, launching the next stage of a journey that started two decades ago,” says Luis Hernández, executive vice president of Digital and Organization Development at CEMEX. “CEMEX remains committed to leveraging digital technology to spearhead the evolution of the building materials industry. This partnership strengthens NEORIS and its role as a strategic ally for us.” 

As part of the creation of the partnership, Advent will acquire from CEMEX a 65 per cent stake in NEORIS. CEMEX will retain a 35 per cent stake. Subject to satisfaction of closing conditions, including approvals from antitrust authorities, Advent and CEMEX expect to finalise the transaction during the 2H22. 

Published under Cement News