(Finance) – WIITa company listed on Euronext STAR Milan and active in the Cloud Computing market, has signed an agreement for the purchase of 100% of ERPTech from BT Italia. The acquired company is a leading company in IT outsourcing services for SAP systems, of which it holds 4 certifications, which in 2021 recorded revenues of approximately 9 million euros and an EBITDA of approximately 500 thousand euros. The corresponding is equal to 4 million euros, with a potential increase of a maximum of 2 million euros upon the achievement of certain commercial objectives. “ERPTech is a company we know well and which until now represented one of the few real competitors in Italy in the SAP Hosting field“commented Alessandro Cozzi, CEO, and Francesco Baroncelli, Chief M&A Officer of WIIT.
“The customer portfolio that ERPTech brings within the group it will strengthen WIIT’s leadership position especially in the Fashion sector, a sector where we are already very present and which in this way we will be able to definitively consolidate – added the two managers – The cost synergies can be estimated at 3 million euros and will constitute a further advantage of this operation. Last, but not least, thanks to a team recognized by the market for SAP skills, this acquisition will allow us to strengthen our operationsto support growth “.
The acquisition opportunity was internally generated by the WIIT M&A team. For all legal aspects of the transaction, WIIT was supported by Pedersoli Studio Legale. Deloitte, on the other hand, took care of the fiscal and tax due diligence. The BT group was instead assisted for the legal aspects by ADVANT Nctm and for the financial aspects by Vitale & Co.
(Photo: Bethany Drouin)