Dedagroup signs a sale agreement with Zucchetti, the closing of the operation will take place in the coming weeks
Dedagroup e la software house Zucchetti have signed an agreement buying and selling of 100% of Pick it upan Italian company that develops management solutions for corporate treasury and financial planning, and of its participation in Myrios. The assignment agreement by Dedagroup a Zucchetti is accompanied by the launch of a solid industrial partnership between the two groups which will allow a Dedagroup and to his Hub Finance to continue to work synergistically with Pick it up e Myrioswhile the other company controlled by Pick it upRad Informatica, will come under the direct control of Dedagroup integrating its development strategy within the group’s Finance Hub.
“By joining the group Zucchettireads the note issued by the group, Pick it up e Myriostwo excellences of Italian software, will be able to continue their growth path, and they will be able to contribute to expand the garrison of the first group Italian software on large corporates; the latter segment is already well served by Zucchetti with the offers of HR solutions, corporate welfare, asset management, energy efficiency, manufacturing and ERP solutions”.
“No Pithecus solutionscontinues the note, they will come integrated with other Zucchetti software and, thanks to the breadth of the proposed offer, customers will be able to benefit from an overall improvement in terms of process digitization, optimization and efficiency that the combination of multiple solutions can generate”.
“Dedagroup, concludes the note, will be able to use the resources deriving from the sale to finance new acquisitions, in line with its growth plans, continuing in the scouting for excellence companies of software and ICT services to continue to implement the aggregation strategy that accompanies its organic growth”. Il closing of the transactionsubject to contractual conditions usual for operations of this type, is expected in the coming weeks.
“Our goal in acquisitions,” he commented George Minivice president of Zucchetti, is always to enrich our offer with innovative solutions already known and appreciated by the market. Piteco’s applications for corporate treasury and financial planning, together with those of the subsidiary Myrios for risk management, they are complementary to Erp and other technological solutions that we develop within the group; they will give further added value to our customers thanks to features that are increasingly required to make the most appropriate choices in terms of business strategies”.
“Furthermore, given the type of customers of Piteco and Myriosunderlined Mini, we believe that opportunities are generated for them too synergies with Zucchetti thanks to an integrated offer that will give them access to our solutions, such as those in the cloud for personnel management, for which we have been the market leader for years”.
“About the management of the acquired companieswe will continue in continuity with the existing one which has demonstrated over the years, together with all the staff, great professional qualities, both from the point of view of IT skills and in terms of knowledge of company processes”, concluded the vice president of Zucchetti.
While for Marco Podiniexecutive chairman of Dedagroup“the importance of Zucchetti, which the market recognizes not only in numbers but also in the esteem for the seriousness with which it operates, immediately made us see the opportunity for strong development that would open up for Pick it up. With the same spirit with which a child is accompanied in its growth towards new experiences, without giving up but on the contrary thus consolidating the relationship, we thought it right to proceed with this operation, consistently with the mission that we have given ourselves the task of defining the best paths for the excellence of Italian software that we have chosen over time”.
“True to the continuous approach reinvestment in our companiestogether with the top management of Dedagroup we will continue to scout the most promising Italian software companies to continue implementing the strategy of aggregation that accompanies our organic growth. Just last December, the tenth acquisition since 2020 was announced, with the entry into the Nodes group, accompanied by the achievement of the controlling stake in ORS, a leading company in the field of artificial intelligence”, remarked Podini.
“Two operations carried out in the name of growth on the AI and Data intelligence front, which have long been at the center of our attention, together with those of the cloud and financial softwarefashion and Pa”, concluded the president of Dedagroup.
Finally, Paul Greenfounder and CEO of Pick it upadded: “2023 marks the twentieth anniversary of the birth and establishment of Piteco. Since then we have come a long way, transforming an intuition into a structured idea, then becoming Technology and Business. Twenty years characterized by continuous growth on all fronts: of people, of functionality of our platformsmarket positioning, integrations generated by careful M&A activity, numbers and transparency also thanks to the important experience gained with the IPO in 2015, which saw us on the market for 7 years with great satisfaction”.
“Today, he concluded Greenthe choice of the largest Italian technological group to invest in Piteco not only represents the recognition of this important historybut marks the beginning of a new chapter that we will write with great enthusiasm and energy, confident that the combination of our skills with those of the Zucchetti group will lead to thousands of Italian and international companies new solutions and technologies for increasingly efficient and strategic management of corporate finance. And this has always been the mission of our team.”
Dedagroup was assisted in the negotiation of the transaction by the Scozzi chartered accountants firm and by the associated law firm Shearman & Sterling, and by PWC Deals, JP Morgan and Unicredit as financial advisors. Zucchetti was followed by Mediobanca as financial advisor, the legal part was managed by its internal lawyer Giuseppe Spernicelli and the part of accounting advisor by BDO assisted by its internal accounting structure led by Marialuisa Antoniazzi.
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