MILAN, 19 October 2020 - TXT e-Solutions S.p.A. ("TXT" or "Company"), a company with shares listed on the Italian stock market - STAR segment, announces that today an agreement ("Purchase Agreement") was signed and finalised for the acquisition of a shareholding equal to 92% (corresponding to 100% of the ordinary shares providing voting rights in the shareholders' meeting) of the share capital of HSPI S.p.A. ("HSPI" and, overall, "Transaction").
HSPI is a company specialised in the digital transformation of large public and private Italian companies and a leader in the field of IT governance, with 2019 revenues amounting to € 12 million, an EBITDA margin of 15% and roughly 100 specialised consultants.
With the acquisition of HSPI, the TXT Group continues to diversify and expand significantly the breadth and depth of its technological and advisory services, inheriting a new broad and diversified customer portfolio, which strengthens its presence in the Fintech and Industrial markets, and guarantees its access to new sectors (Public Administration, Energy & Utilities). Thanks to HSPI, the TXT Group will obtain a leadership position in Italy, with the addition of new operating offices, such as in Bologna and, especially, Rome. The Transaction will further reinforce the know-how of the TXT Group in key areas such as Information Risk Management, Process Mining, blockchain, data science and advanced analytics; it will expand the offer to the field of cyber security, expected to grow substantially over the coming years, and the public administration sector, thanks to an internal office set up to participate in calls for tender.
"The integration of HSPI will make it possible to reinforce the TXT Group's strategic position as a leader in digital process and product innovation, with a complete end-to-end offer ranging from consulting to the provision of proprietary products and specialised solutions", commented Daniele Misani, CEO of the TXT Group. "Technological and commercial synergies already enacted and the consolidation of HSPI's excellent results will enable us to look to the future with optimism, with outlooks for further Group growth in terms of offerings and markets".
"I am very satisfied with and motivated by the growth project underlying the transaction concluded today, as are the two founders Ambra Neri and Giorgio Toma and the entire HSPI Team", commented Sebastiano Manno, CEO of HSPI. "Joining a Group like TXT enables us to develop new and innovative best practices through the use of the proprietary IT and engineering processes and technologies of the TXT Group. Thanks to multiple market and expertise synergies, especially in the realm of cyber security, risk management, data analytics, VR/AM/XR and blockchain, we will be able to implement a shared accelerated growth plan".
Please also note that, thanks to consolidated and strategic relationships with its customers, even during the lockdown HSPI maintained its pre-crisis volumes. Indeed, for 2020, the HSPI's Top Management estimates revenues aligned with 2019 and just slightly lower margins (i.e., around -1 p.p.); for the subsequent years, by leveraging on technological and commercial synergies and barring any new lockdowns, the Top Management expects sustained business growth and in line with the shared strategic plans.
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About TXT e-solutions
TXT is a world leader in the supply of software products and strategic solutions. It operates in dynamic markets that require high specialisation and the capacity to innovate. TXT is focused on software for the aerospace, aeronautical and automotive sector, where it offers specific products and specialist engineering services and on the Fintech sector with services related to testing and IT governance and products and solutions for the management of loans, NPLs and large financial system risks.
Listed on the Italian Stock Market since 2000 in the Star segment (TXT.MI), TXT has its registered office in Milan and offices in Italy, France, the UK, Germany, Switzerland and the USA.
For more information, please visit www.txtgroup.com
