(Tiper Stock Exchange) – Defense Techa group listed on Euronext Growth Milan and active in the cyber security and data intelligence sector, has signed a agreement for the acquisition of 60% of the capital of Innovation Design (Innodesi), a company in the electronics sector active on the national territory through the design and implementation of integrated and complex hardware and software systems in the Space and Defense sectors and in research projects in the Biomedical field. The deal was signed through the subsidiary specialized in electronic technologies Foramil.
The operation, explains a note, presents a double strategic value for Defense Tech: firstly, the strategic value derives from the vertical complementarity of electronic design, which will allow the expansion of laboratory activities; secondly, it will be able to enhance its vertical know-how with the transfer of specialist skills thanks to the highly senior and highly specialized figures that make up the Innodesi team.
“Apart from the numerical contribution that Innodesi will bring to the group – he commented Emilio Gisondi, CEO of Defense Tech – I am very happy with this acquisition because it lays solid foundations for the realization of our greatest ambition: to realize hardware and software products with high technological content and entirely Italian consequently enhancing our ability to be a technological reference for national defence”.
The purchase of 60%, pro rata from the five partners who individually hold a stake of 20%, will be carried out exclusively through recourse to Defense Tech’s own resources. The purchase pricetotal equal to 438.1 thousand euroswill be fully paid in cash upon closing of the transaction, expected within the first half of 2023. The transaction is subject to theGolden Power clearance.
The agreement also provides for the possibility for Foramil to exercise apurchase option (call) on the remaining 40% share of the capital of Innodesi, which closed 2022 with a preclosing turnover of approximately 700 thousand euros.