Ravenna, November 8, 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 finalized the sale 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 disposal of Business-e S.p.A. will allow Itway to acquire financial means and to strengthen capital thanks to the consideration of Euro 12,335,526. A first installment of Euro 500,000 was already received in cash by Itway S.p.A. at the signing of the framework agreement on October 16, 2017 while today Maticmind S.p.A. paid the second installment totaling Euro 6,140,526.00. The balance will be paid in multiple installments with deferred payments until November 8, 2018.
Itway and Maticmind furthermore reached commercial agreements to jointly develop activities carried out by the Itway Group in the fields of Cloud Computing, Internet of Things (IoT) (Nebula) and Big Data (4Science) and in international development (Greece, Turkey, MENA-Middle East North Africa).
Commenting the deal, G. Andrea Farina, President and Chief Executive said:
“The sale of Business-e is a further step towards the refocusing of the group on the planning and deployment of digital transformation solutions. This strategy started in 2015 with the termination of the distribution activities in France and with the sale, in 2016, to the Esprinet Group of the distribution activities in Italy and Spain. Following the disposal, the new perimeter of the Itway Group will focused on the national and international expansion in activities in which the single business units of the group have specific skills and on the supply of solutions for SMEs in the sector of Managed Security Services of IoT, Big Data and Data Curation.”
Carmine Saladino, Chairman of Maticmind said:
“This transaction represents for us a fundamental step in the strategy that has been undertaken in the past few years aimed at strengthening the presence on the Italian ICT market, by consolidating the leadership of Maticmind in the more innovative and higher value innovative technological sectors.”
Itway S.p.A. was assisted by Twice Corporate as financial adviser and by Gitti and Partners as legal adviser. Maticmind S.p.A. was assisted by BDO as financial adviser and DLA Piper as legal adviser.
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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