(Tiper Stock Exchange) – TXT e-Solutionsan Italian IT company listed on Euronext STAR Milan, has signed a asset acquisition agreement belonging to Business Embedded Graphics of Presagis Canada, Presagis Europe and Presagis USA companies. All of these companies are subsidiaries of EWC, one of the largest Canadian companies, leader in the Aerospace & Defense sector. The conclusion of the operation, the financial details of which have not been disclosed, is expected in third quarter of 2023.
The object of the investment is the business related to the Embedded Graphics business of Presagis, which consists of a portfolio of software solutions and services designed for onboard systems in the Aerospace & Defense market. The approximately 30 employees of the business acquired in Canada, USA & UK, are specialized technical resources and expert commercial professionals, and will integrate the team of specialists of PACE Aerospace & IT, a company of the TXT group which operates in the same field.
In evaluating the operation, TXT has identified substantial technological and commercial synergies from the integration of the EG offer in the portfolio of Smart Solutions for the Aerospace & Defense market, already owned by the group
“The operation with Presagis represents a strategic step in implementing our international growth plan – commented Daniel Misani, CEO by TXT – By adding a new Smart Solution to our portfolio, we strengthen our position in the Aerospace & Defense market and expand our presence globally. Thanks to the specialized technologies acquired and the high potential of the synergies with PACE and TXT E-Tech, the TXT group aims to generate greater value to support the innovation of the products of the large aerospace companies”.
(Photo: © Veerasak Piyawatanakul)