(Tiper Stock Exchange) – Relatecha company listed on Euronext Growth Milan and operating in the digital transformation of companies, has entered into binding agreements aimed atacquisition of the remaining 40% of the SIGLA Group capital, specialized in the design and development of ICT and automation solutions and services for large domestic and foreign customers, as well as for public bodies. SIGLA became part of Relatech on 29 June 2021, following the purchase of 60% of the related share capital.
The transaction, which was expected to be completed in 2024, was anticipated by one year after management evaluations of Relatech and the SIGLA Group, which consider the early completion of the acquisition to be strategic in order to be able to fully benefit from the cost synergies and have greater flexibility in terms of the investment plan, reads a note.
“The anticipation is demonstration of the desire to increase and accelerate the areas of synergy with the group, such as investments and constant activity in Research and Development, enriching the offer in the Industrial Automation and Cybersecurity fields, in addition to digital skills, these sectors are experiencing considerable growth”, commented Pasquale Lambardi, president by Relatech.
The agreements signed with the selling shareholders – Osvaldo Loiaconi, Pierfranco Bernardi, Roberto Versace and Umberto Massa – provide for a corresponding total for the purchase of the residual share capital of 715,000 euros entirely in cash.
In the context of the transaction, the parties also agreed on the payment, in favor of two selling partners of a cash earn-out totaling a maximum of 430,000 euros and linked to the performance objectives of the SIGLA Group with reference to the 2023 financial year.