Itway GROUP SIGNS A MEMORANDUM OF UNDERSTANDING (Mou) WITH IRAN’S PATSA HOLDING

The agreement was signed during the visit by the Italian government led by Prime Minister Renzi to Teheran

Itway Group aims to generate a turnover on the Iranian market of some 200 million Euros over the next five years

Ravenna, April 13, 2016 – Itway enters into the Iranian market. The Group, a leader in planning, production and value added distribution of solutions and technologies for e-business, listed on the Star segment of Borsa Italiana (IT0003057624), signed today a Memorandum of Understanding (MoU) with Iran’s Patsa Holding, a conglomerate comprising 12 companies operating in the ICT, Industrial & Life Automation and Instrumentation sectors, with over 600 experts in Iran and in other Middle Eastern countries

The agreement aims to identify and then develop common projects in Iran in the fields of Networking, Data Center, Cyber security, Application Security, Big Data, IOT with particular focus on the analysis of specific vertical market areas including Smart Government, Healthcare, Smart-Transportation and Logistics.

The development plans of the Itway Group on the Iranian market foresee reaching a turnover of some 200 million Euros over the next five years.

The signing of the memorandum of understanding between G. Andrea Farina, President and founder of the Itway Group and the CEO of Patsa Holding, Esameil Sanaei, took place on the occasion of the official visit to Iran by Prime Minister Matteo Renzi, who on April 12-13, 2016, together with Deputy Minister for Economic Development, Ivan Scalfarotto, went with a delegation of Italian businesspeople and banks on a mission to Iran.

The signing of the MoU was also signed in the presence of Iran’s Deputy Industry Minister Valiollah Afkhami Rad.

The objective of the Italian mission to Teheran, coordinated with Confindustria in collaboration with the ICE and the Italian Embassy of Teheran, is to intensify the economic and commercial relations of Italian companies already present on the Iranian market and more generally to promote the Italian high value added industrial System.

Itway, already in 2014, with the opening of the Itway Mena subsidiary in Dubai, had initiated contacts and relations in a bid to operate on the Iranian market and the Middle East.

Itway – www.itway.com

Founded in Ravenna on July 4, 1996, listed on Borsa Italiana since July 4, 2001 (AllStar segment), Itway SpA today heads a Group that operates in the Information Technology sector by planning, producing and distributing of e-business solutions. The Itway Group operates as Value Added Distributor (VAD) of software technologies for e-business in Italy, France, Greece, Spain, Portugal and Turkey and is, in these business areas, a market leader. The clients of Itway VAD are “system integrators” and “value added reseller”, who sell products to end users. The major products distributed by Itway VAD in Italy include: Acronis, Alcatel, Array Networks, Arcsight, Bluecoat, Check Point, Extreme, F5, HP Security, Ipswitch, Lenovo, Kaspersky, Kemp, Mcafee, Microfocus/Novell, Red Hat, SonicWALL, Vidyo, VMware