Almawave signs a binding agreement to acquire 100% of SisTer – Sistemi Territoriali S.r.l.

Almawave S.p.A., an Italian company listed on the Euronext Growth Milan market (Ticker: AIW) and part of the AlmavivA Group, a leader in Artificial Intelligence (AI), natural language analysis, and Big Data services, announces that it has signed a binding agreement to acquire 100% of the share capital of Sistemi Territoriali S.r.l. (hereinafter “SisTer”), a company based in Cascina (Pisa) active in the development of Data Science solutions and projects, focusing on Open Data Analytics, Spatial Intelligence, and Decision Support System platforms for the Multi-utilities and Government sectors.

For fiscal year 2021, the company subject to the transaction estimates: revenues of €2.4 million (+23% YoY) and an EBITDA of approximately €600 thousand (substantially increasing compared to the previous year). SisTer serves both public and private clients of primary relevance and maintains a strong, synergistic connection with the academic world.

The deal will be entirely cash-based, with an enterprise value of €2.1 million, to which the estimated positive net financial position of approximately €1.7 million will be added.

The transaction stems from the long-standing collaboration between SisTer and Almawave, but above all lays the foundation for a synergistic strengthening of both companies. By combining their respective expertise, they will be able to establish themselves in strategic business areas, including those linked to multiple missions of the Italian National Recovery and Resilience Plan (PNRR), while also reinforcing Almawave’s positioning in a rapidly evolving sector such as Multi-utilities.

Valeria Sandei, CEO of Almawave, stated:
“I am very pleased because, just weeks after the agreement to acquire The Data Appeal Company, another brilliant and efficient company joins our perimeter. SisTer, with which we have a consolidated collaboration, holds a portfolio of highly relevant skills and assets, recognized both nationally and internationally. The significant synergies in know-how, offerings, and market presence will allow us to seize even more effectively the growing opportunities in our target markets, the business areas in which we are already active, and those we will develop together. We are capable of deploying top-level expertise also for the implementation of the PNRR, a challenge to which the entire country system is called.”

Carlo Magnarapa, Sole Director of SisTer, commented:
“It is with great satisfaction that we welcome this agreement, convinced that it represents a major growth opportunity for both companies. The cooperation with Almawave has been fruitful for several years, and this acquisition will further consolidate and structure this relationship, while allowing us to look optimistically toward future challenges. We are confident that the thirty-year history, expertise, and assets of Sistemi Territoriali in the Multi-utilities sector, Location Intelligence systems, and Big and Open Data, integrated with Almawave’s Artificial Intelligence capabilities, will create a unique and highly significant portfolio of products and services.”