Binding agreement signed for the acquisition of 100% of the share capital of The Data Appeal Company S.p.A.
31 December 2021
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, has signed a binding agreement to acquire 100% of the share capital of The Data Appeal Company S.p.A., a Florence-based company active in the development of vertical AI analytics solutions, and a leader in the tourism, fintech, and location intelligence sectors.
The transaction has a total valuation of €16.5 million.
Valeria Sandei, CEO of Almawave, commented:
“I am thrilled about this agreement, which demonstrates our ability to attract talent and provides an additional lever for accelerating Almawave’s growth and value creation journey. The Data Appeal Company is a perfect fit for achieving and strengthening our strategic objectives: we share the same vision of AI, focused on ease of use, vertical solutions, and their scalability in the world.”