(Alliance News) - Planetel Spa announced Wednesday that it has signed a binding agreement aimed at acquiring 100 percent of the share capital of Connetical Srl, a Veneto-based company operating in the integrated data and voice telecommunications sector, for a maximum consideration of EUR2 million, subject to adjustments as per contract, with partners Stefano Pasqualin, Umberto Pasqualin and Daniele Gallina.

The transaction is expected to close by the end of April.

Connetical, based in Fiesso d'Artico and Padua, is a company specializing in customized solutions for businesses and individuals, providing fiber optic connectivity services, wireless connections, VPN. It serves business and private customers in Veneto by providing telephony, connectivity, cyber security, networking solutions, datacenter, cloud and system services in the Veneto areas. The company employs 7 employees.

As of December 31, Connetical reported revenues of EUR1.9 million, Ebitda of EUR290,000 and Adjusted Ebitda of EUR350,000, and a positive Net Financial Position of EUR50,000.

Bruno Pianetti, president and CEO of Planetel, said, " We had announced our intention to consolidate our competitive position in the Veneto region, and we are doing so, in line with what we declared at the time of the listing and in continuity with what we did last year with the acquisition of Trivenet. For us, Veneto is a strategic region both for the presence of an important business fabric and for its contiguity with Lombardy. Connetical has been identified as a very interesting company for the skills and technologies developed and for the capillarity of its presence in the territory. This transaction confirms our will in wanting to grow dimensionally by providing reliable and innovative communication solutions to meet the constantly evolving needs of our customers."

Connetical represents Planetel's fourth acquisition since its listing on the stock exchange, and the second in the Veneto region after the purchase of Trivenet in June 2023.

The deal will allow Planetel to further expand its business in the Veneto region, the company points out in a note.

Planetel closed flat at EUR5.10 per share.

By Chiara Bruschi, Alliance News reporter

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