(Finance) – TXT e-Solutionsan Italian IT company listed on Euronext STAR Milan, signed on contract for the acquisition of 100% of the capital of Imilleits foreign subsidiaries Imille Spain, Imille Start (Chile), and Imille Brasil Agencia, and the company Uasabi (the latter specialized in communication for the new generations). TXT will consolidate the results within its Digital Advisory division starting from June 26, 2024.
I MILLE was founded in Milan in 2004 as marketing agency and today – thanks to constant domestic and international development – the group is recognized as a Global Creative Consultancy and one of the main independent acronyms in the Italian communication and design panorama. The I MILLE group covers a variety of services, from Creative Agency to Product Marketing and Design Studio up to Media Agency, with vertical offers on Enterprise segments provided by I MILLE and offers dedicated to the new generations provided by Uasabi.
THE revenues of sales in 2023 stood at 11.6 million euros (+12.7% YoY), with EBITDA equal to approximately 1.6 million (EBITDA margin equal to 13.6%). For 2024 and the following two years, the industrial plan shared with the management of the I MILLE group foresees strong business development with important turnover growth objectives (revenue CAGR over 20%) favored by the synergic integration of TXT’s technological skills in the Creative Consultancy offer of the I MILLE group and by the broad cross-selling opportunities on TXT’s prestigious customer base consisting of blue-chips and global large enterprises.
“The need for innovation of our global customers requires transversal skills that cover the main Enterprise processes, including sales, marketing and digital communication. It is of great value to strengthen the TXT Group ecosystem with IMILLE and UASABI – commented the CEO Daniele Misani – We add an experienced management team and an offer of great reputation and value on the market. We enter the MarTech segment starting from Digital Advisory, with strong skills in creativity and innovation. This operation starts the definition of a MarTech hub, which aggregates skills already existing in the group and that we will strengthen in the short term, integrating the current offer with new investments in technology and further acquisitions, focusing on proprietary digital solutions”.
The corresponding basis paid at closing for the purchase of 100% of the I MILLE group, net of earn-outs, claw-back and PFN which will be settled in cash, was agreed between the parties at 8.5 million euros, of which 7.1 million (84%) paid in cash and 1.4 million (16%) through the payment of TXT e-solutions shares sold at the price corresponding to the average price of the shares in the 30 working days preceding the closing date, equal to 24.13 euros per share. The Net Financial Position resulting at closing will be settled in cash.
(Photo: © Veerasak Piyawatanakul)