Reports: Palantir Is Opening A Spain Office
This was first 5 paragraphs below before I get into my analysis was originally reported by Metro World News, you can view the original article here.
The security firm Palantir, known for its contracts with the CIA and the Pentagon and its controversial founder, Peter Thiel, is preparing to open what will be its first office in Spain in the coming months.
As sources close to the operation have confirmed to Europa Press, the company is in the process of recruiting the personnel that would form this headquarters and that would give a new dimension to the company's operations in the country in a context marked by the presumed increase in defense spending in the wake of the invasion of Ukraine.
A Palantir spokesperson has indicated that the company is "looking to hire several workers in Spain as part of its expansion strategy in Europe", although it has indicated that it already has staff in the country.
Among the published positions are figures whose role will consist of "getting new opportunities in the public and private sector", or developers for its "software" to fight capital fraud.
Currently, Palantir has had a subsidiary in Spain since 2018 whose headquarters are domiciled in the law firm Afiens Legal and whose corporate purpose is "the marketing, sale or distribution of computer applications designed for the integration, visualization and analysis of data".
According to the latest accounts delivered to the Mercantile Registry, which Europa Press has accessed through Infoempresa, the subsidiary does not have employees on the payroll and invoiced 3.9 million euros in 2020 – the last year available – 24% less than in 2019, although it doubled its gross operating profit (Ebitda), which was 100,000 euros." - Metroworldnews
Why Is This Happening
Palantir is ramping up their efforts internationally and we've seen it in a variety of things they've done over the past few months.
First, they hired a new VP of sales, Philippe Mathieu, for the Europe, Middle East, and Africa (EMEA) region. This happened in January and signaled to investors that the company is now beginning to expand more heavily into other regions. Philippe oversaw overall sales and P&L for Oracle business amounting to $16B in revenue.
Shyam and Philippe spoke on the partnership then, saying:
“Philippe is an experienced leader with demonstrated success at building and scaling sales teams across large markets,” said Palantir COO Shyam Sankar. "I am excited to have Philippe and his decades of experience as we fuel the fellowship across the region.”
“Palantir has become the operating system of choice for Enterprises and the demand is growing exponentially,” Mathieu said. “I am thrilled to join the company who employs the best engineers in the industry and to contribute to the acceleration of our global footprint."
Additionally, Palantir opened up their official offices in Germany in January as well. Alex Karp recently did an interview at the Munich Security Conference, speaking to the German people about Palantir's role in data privacy. Germany has increased its defense spending to around $100B since the Russia invasion of Ukraine occurred, along with other countries increasing their defense spend.
Palantir's expansion into Spain may begin to signal their potential partnerships with the government of Spain due to increased defense spend along with expansion in the private sector. Palantir already has staff and employees working in the region.
Long term, for Palantir to thrive, it must dominate global markets. Outside of working with western adversaries, there is plenty of room for Palantir to grow and become the modern operating system for governmental agencies and private clients world wide.
The expansion into Spain should be another step into the journey of becoming one of the world's most important software companies selling technology to some of the most important public and private clients in the world.