Milan, October 16, 2017 – Itway S.p,A., a company that operates in the ICT sector to produce solutions in the cyber security, cloud computing and big data segments, listed on the Star segment of Borsa Italiana SpA, announces that it has signed a framework agreement to sell to Maticmind S.p.A. – a company also operating in the ICT sector – the entire stake it owns in Business-e S.p.A. The consideration for 100% of Business-e S.p.A. is €12,212,000.
The transaction, which will be sealed by November 30, 2017, foresees that a first installment of €500,000 will be paid to Itway at the signing of the framework agreement; a second installment of €5,817,000 will be paid by Maticmind S.p.A. to Itway S.p.A. at the closing on October 27, 2017. The balance will be paid in multiple installments with deferred payments until the first anniversary of the closing of the transaction.
In the transaction, Twice Corporate acted as financial adviser and Gitti and Partners as legal adviser for Itway S.p.A while BDO acted as financial adviser and DLA Piper acted as legal adviser for Maticmind S.p.A..
|Founded in Ravenna on July 4, 1996, Itway S.p.A. is the parent of a group that operates in the IT sector through the planning, production and distribution of technologies and solutions in the cyber security sector. The group, through the Business-e subsidiary, has for over 20 years represented a reference point in terms of VAR, System Integrator and Resellers seeking cutting-edge technologies, consultancy, services and training in the standard Internet solutions market. Since 2001, Itway has been listed on the STAR segment of Borsa Italiana. www.itway.com|
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