(Alliance News) - e-Novia Spa announced Thursday that the capital increase of the newly formed Wearth Holding through which the company acquired direct control of Weart Srl has been executed.

In June, in fact, Weart Holding was established, to which the shares held in Weart by e-Novia -- amounting to 35 percent --, Guido Gioioso, amounting to 22 percent, and Giovanni Spagnoletti, for 22 percent, were contributed, thus making Weart Holding the parent company of Weart.

"This transaction, in line with the group's industrial strategy, aims on the one hand to ensure the strengthening of governance by ensuring uniformity of direction, stability and management continuity, and on the other hand to consolidate the relationship between e-Novia and the two co-founders through the sharing of strategic lines for the development of Weart," the company explained.

Weart, a spin-off from the University of Siena, develops wearable solutions that digitize the sense of touch, enabling the perception of physical objects in augmented and virtual reality environments. Specifically, the companies' devices are applied in a variety of areas, both B2B and B2C: from training, to virtual prototyping, to digitizing the retail experience and entertainment.

The company holds three patent families and, as of Dec. 31, 2022, reported a value of production of EUR688,348 - up 28 percent from 2021 - and a loss of EUR688,402.

e-Novia's stock closed Thursday unchanged at EUR6.45 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2023 Alliance News IS Italian Service Ltd. All rights reserved.