PITECO S.p.A. (BIT:PITE) entered into a quota purchase agreement to acquire 70% stake in RAD Informatica S.r.l. ("RAD") from Rad Informatica Spa (“RAD Holding”) and Corrado Costa S.r.l. for €35 million on October 15, 2020. The Purchase Price is subject to the usual adjustment mechanisms in line with the standards for similar transactions. PITECO acquired 8% stake in RAD from RAD Holding for €4 million on October 15, 2020. PITECO will acquire the remaining 62% stake will be done in second tranche. PITECO will acquire 62% stake in second tranche. Post completion of the transaction, RAD Holding and Corrado Costa will hold a stake equal to, respectively, 10% and 20% of the corporate capital of RAD. The quotaholders’ agreement includes a call and put option in connection with the remaining 30% of the corporate capital held by RAD Holding and Corrado Costa to be exercised in different time frames following the approval of the financial statements of RAD for the 2023, 2024 and 2025 financial years or if certain events, provided for under the option agreement, occur. The transaction will be financed through financing to be provided by a primary bank institution and maximum capital increase of €8 million. Piteco Spa has already received the preliminary availability of the existing shareholders Marco Podini, Maria Luisa Podini, Riccardo Veneziani, Paolo Virenti, Andrea Guillermaz and Dedagroup S.p.A. to participate to the subscription of the above capital increase. The transaction is subject to the fulfillment of the contractually agreed conditions precedent, including the provision of the financing. The second tranche acquisition will complete by end of November 2020. PricewaterhouseCoopers Advisory S.p.A. acted as financial advisor, Emanuele Trucco and Fabio Fauceglia of Shearman & Sterling LLP, acted as legal advisor, Studio Spalla e Associati acted as tax advisor while Studio Legale Toffoletto De Luca Tamajo advised in connection with the labour law profiles to Piteco. Studio Artina acted as tax and financial advisor, Klecha & Co. acted as financial advisor, and Pedersoli Studio Legale acted as legal advisor to RAD Holding and Corrado Costa. PITECO S.p.A. (BIT:PITE) completed the acquisition of 70% stake in RAD Informatica S.r.l. ("RAD") from Rad Informatica Spa (“RAD Holding”) and Corrado Costa S.r.l. on November 30, 2020.