Almawave S.p.A. (BIT:AIW) agreed to acquire The Data Appeal Company S.P.A. from Airbridge Equity Partners Coöperatief U.A., Indaco Venture Partners SGR SpA, H-Farm S.p.A. (BIT:FARM) and others for €14.5 million on December 31, 2021. The consideration comprises combination of cash €4 million and €12.5 million worth of 2,155,172 common shares of Almawave. Almawave's own funds shall be used to finance the transaction, except for the share capital increase.

For the year ended December 31, 2020, The Data Appeal Company S.P.A. recorded the revenues of €1.5 million. The deal is subject to regulatory approval and Almawave shareholder approval. As of February 7, 2022, the shareholders of Almawave approved the transaction.

Gianni, Origoni, Grippo, Cappelli & Partners acted as legal advisor to Almawave. Lega Colucci Morri & Associati acted as legal advisor to The Data Appeal Company S.P.A. Klecha & Co. acted as financial advisor to The Data Appeal Company S.P.A.