(Alliance News) - Digital360 Spa announced Friday that its Spanish subsidiary Digital360 Iberia SL has signed an agreement to take over 51 percent of Omnitel Comunicaciones SL and 55 percent of AdjudicacionesTic SL.
Closing of both deals is expected by September 10 this year, and Digital360 will have the right to take over the remaining shares in both companies in 2026, after the approval of the 2025 accounts of the two Madrid-based entities.
Omnitel-along with its Portuguese subsidiary Omniprotic Portugal-is an agency that provides a wide range of services in support of marketing and sales for major technology companies operating in Spain and Portugal, ranging from managing digital marketing campaigns to organizing events, and from managing marketing funds for enterprises to managing outsourced activities for large global technology vendors. It reported revenues of EUR19.3 million in 2022, Ebitda of EUR1 million and a Net Financial Position of EUR200,000.
AdjudicacionesTic offers a business intelligence service, based on a proprietary platform, for the management of tenders for services and technology solutions of public administrations in Spain and Portugal. The service is offered on a subscription basis to more than 400 clients in the technology sector and is complemented by data analysis and consulting services. It ended 2022 with a turnover of EUR900,000, Ebitda of EUR350,000 and a cash positive NFP of EUR350,000.
For Omnitel's share, the Italian SME will shell out EUR7.7 million over the pro-rata NFP at closing while for AdjustacionesTic the amount disbursed is EUR2.6 million.
Digital360's stock is unchanged at EUR4.66 per share.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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