Reply Deutschland AG : Reply S.p.A. acquires Mind Services and strengthens its presence in Brazil

• Financial News

21 November 2013

Reply S.p.A. - listed in the STAR segment of Borsa Italiana [MTA, STAR: REY] - strengthens its presence in South America with the acquisition of 76% of the share capital of Mind Services Informática LTDA, a Brazilian company specialized in consultancy and in the development of technology solutions for the insurance market.

Based in Sao Paolo, Mind Services' customers include some of the leading South American corporations, including AON, Chubb, Icatu and Mapfre.

The turnover of Mind Services, for the year ended 31 December 2012 amounts to 3.1 million Euros.

The total consideration for the 76% of the capital of Mind Services is 1.9 million Euros, fully paid in cash.

The acquisition of Mind Services is part of the international development strategy of Reply, based on the implementation in Europe and America of a network model of highly specialized companies. In particular, with Mind Services Reply strengthens its presence in Brazil, the largest market for ICT spending in South America.

"With Mind Services, - commented Mario Rizzante, Chairman of Reply - which is known for its outstanding reputation and the excellence of its solutions, we have further expanded our presence in Brazil, opening a second centre in San Paolo, alongside our offices in Belo Horizonte".

"Brazil is one of the countries that is investing more in innovation" - Mario Rizzante continued. "The ICT sector is already the third largest one in terms of contribution to local GDP. New technologies will more and more play a key role in the development of all branches of industry, in the services and in people's daily lives. A presence in this part of the world is of strategic importance for the growth of our Group" - he added.

"We are delighted to become part of Reply" - said Leonel Fernando Coelho, Managing Director of Mind Services - "Adding Reply's technological excellence to our own distinctive skills, together with their unremitting drive to innovation and global dimension, makes a further and key improvement to our offering to all current and future customers".