(Finance) – Matica Finteca company listed on Euronext Growth Milan and active in the production and marketing of technological solutions for the issuance of digital cards, has signed a binding contract to acquire the entire share capital of CTC (Card Technologies Corp), a company incorporated under US law, in turn controlling 100% of UBIQ (NBS Technologies (US) Inc.), by Ai Holdings Corporation, a Japanese company listed on the Tokyo Stock Exchange. The transaction allows the Italian company to complete the value chain with software solutions for Digital ID and Banking, as well as expand with an operational base in the United States.
UBIQ is one software house specialized in the world of Digital ID, E-Wallet (NFC), SW EMV (Europay, Mastercard & Visa) and SW solutions for Data Secure (“Xpressi”). The product range also includes some systems for the personalization of EMV and National ID cards, as well as Mobile Payment (E-Wallet) solutions undergoing EMV certification that will complete the Matica Fintec product range.
The acquired companies have achieved aggregate revenues at June 30, 2021 (last fiscal year) of $ 4.56 million and a positive net financial position (cash) of $ 0.693 million. In the nine months of the current fiscal year (July 2021 – April 2022) the aggregate revenues have already exceeded the result of the previous year reaching 4.65 million dollars, and the net financial position is always positive (cash) equal to 0.631 Millions of dollars.
L’cash amount of the acquisition, equal to 1.5 million dollarswill be financed through own means, while the 5% of the shares currently existing of the company Matica Fintec, partly with treasury shares and partly newly issued, at the market price of the share at the closing date (currently expected by the end of June 2022). Ai Holdings Corporation has hired a Lock up commitment twelve months from closing.
“The acquisition of the two companies specializing in the Digital ID and Banking sectors it is part of our strategic growth plan for external lines and it is the confirmation of our propensity to evolve dynamically, in particular at an international level – he commented Sandro CamilleriCEO of Matica Fintec – The transaction opens up new development prospects for Matica Fintec, integrating the value chain and completing the company’s hardware and software offering for the Banking and Digital ID sectors, enriching it with highly technological products, including which stands out a new Mobile Payment solution “.