- Contents acquired Barcelona’s Balio, marking its sixth European acquisition and extending its buy-and-build strategy in enterprise software.
- Balio will use Contents’ AI infrastructure to improve financial wellbeing tools, personalise user experiences, expand multilingual capabilities and support growth beyond Spain.
- The deal strengthens Contents’ presence in Spain, adding Balio’s enterprise customer base to its wider AI orchestration platform and commercial network.
Contents, the Milan-based enterprise execution platform for AI agents, company knowledge and approval workflows, has acquired Balio, a Barcelona company focused on corporate financial wellbeing.
Before Balio, Contents completed five acquisitions across Europe. The list includes Scribeur in France, Lowpost in Spain, and Traduzione, Scribox and Zulla in Italy.
The company applies the same operating approach across those acquisitions. It buys software firms with enterprise clients already in place, connects its own AI capabilities to their products, and works to improve growth, scale and profitability. Through that structure, Contents aims to extend its AI platform across a broader installed customer base.
The companies did not disclose the financial terms. The transaction marks Contents’ sixth acquisition and pushes forward a buy-and-build strategy the company has run across Europe for several years.
Balio gives Contents another enterprise software asset with existing customer relationships in Spain. For Contents, the deal fits a repeatable model: buy software businesses with trusted clients, add its AI stack to their products and operations, then push growth through a wider commercial network.
Massimiliano Squillace, founder and CEO of Contents, said Balio is the company’s sixth acquisition and another step in a strategy built over years. He said Contents acquires enterprise software companies with trusted customer relationships and accelerates them through its AI infrastructure.
Balio brings a strong team, established customers and a product with large growth potential. Contents’ role now is to help Balio scale faster than it would on its own.
Massimiliano Squillace, founder and CEO of Contents
Squillace founded Contents in 2021. The company connects multiple large language models, enterprise knowledge and business workflows in one AI orchestration system. It turns proprietary company information into AI-powered business applications for marketing automation, content localisation, knowledge management and other operational processes.
Contents works across large AI models rather than tying its product to a single provider. Its system connects with Meta, OpenAI, Anthropic, Google and Mistral. The company says it retains 100% of enterprise clients, produces more than 500,000 AI outputs each month and serves major companies in fashion, retail, hospitality and financial services.
The company has raised $25 mn, backers include Thomson Reuters Ventures, Alkemia Capital, SparkLabs and Qatar Development Bank. In February, Contents closed a $7 mn Series B extension round.
Balio was founded in 2019 by Sergi Benet, Guillem Roig and Gerard Bernal. The company helps employers offer staff personalised financial education, digital tools, practical guidance and content aimed at improving financial awareness and wellbeing.
With Contents’ AI infrastructure, Balio plans to improve its product, personalise user experiences at scale and expand multilingual features. The company also expects to deliver more value to clients without increasing its cost base at the same pace. All of that remains subject to data protection rules and existing client agreements.
Balio clients will gain access to Contents’ wider product capabilities. Those include content orchestration, localisation, enterprise knowledge management and automated workflows.
Contents’ international sales network will also support Balio as it expands outside Spain and into other European markets.
Balio co-founders Sergi Benet and Guillem Roig said joining Contents opens a new phase for the company. They said Balio will keep developing its vision and serving clients with the same focus, now with access to advanced AI technology, international distribution and the resources of a larger European group. They said the deal will help Balio innovate faster, improve its platform and enter new markets.
Balio has built relationships with leading Spanish enterprises, which Contents sees as a valuable asset in software sales. After the acquisition, those relationships become part of Contents’ wider enterprise footprint.
According to Contents, AI will spread through the software systems companies already use. The company does not expect those systems to disappear. It expects to rebuild them with AI-powered execution, knowledge handling and workflow automation.
Spain has become one of Contents’ main European markets. The company now has a Madrid team, a Barcelona office and two completed acquisitions in the country.
Balio’s current team will remain part of the business. It will work with Contents on platform development, existing client support and the next stage of growth.
