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    LIT   IT0004370463

RETELIT S.P.A.

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Retelit S p A : fully acquires Welol Next Srl

07/27/2021 | 10:20am EDT
Retelit fully acquires Welol Next Srl
27 July 2021Price sensitive | Press releases
The Group adds solutions on Microsoft Azure and Modern Workplace to its offering and extends its Microsoft 365 expertise

Retelit S.p.A. (MTA: LIT.MI) ('Retelit' or the 'Company'), the Italian fiber optic and digital transformation project leader, listed on the Italian Stock Exchange - STAR segment, announces the closing of the full acquisition, through the subsidiary Retelit Digital Services S.p.A., of Welol Next S.p.A. ('Welol'), headquartered in Turin.

Welol is an Italian ICT provider focused on the development of software solutions, based on Microsoft technology, to improve and simplify operating processes. Headquartered in Turin and with the software factory based in Cagliari, Welol is a Microsoft Gold Partner. Leveraging its in-depth technological expertise, it supports companies in the design and management of Cloud architectures on Azure and Modern Workplace, covering the entire range of technological solutions within Microsoft 365, while also providing advice on the installation of Office services and on the Sharepoint platform.

Retelit acquires all the shares held by the two current shareholders and founders Alberto Jacomuzzi and Sandro Rosso, who will continue to manage the company, for consideration of Euro 2.9 million, corresponding to the Enterprise Value of the Company, which is subject to change depending on the results for years 2021 and 2022. The price is entirely funded by own resources and will be paid in three tranches, Euro 1 million on today's date and the remaining Euro 1.9 million upon approval of the relevant annual financial statements, of which up to Euro 0.6 million may be settled, at the exclusive discretion of Retelit Digital Services, entirely in Retelit shares.

With the acquisition of Welol, the Retelit Group's range is strengthened, providing customers with solutions that cover the entire Microsoft technology stack and thus becoming Microsoft's Preferred Partner in Italy.

Welol reported significant growth in 2020 on previous years with revenues of Euro 2.8 million, an EBITDA of Euro 0.3 million and a Net Cash Position of Euro 0.3 million; the company is headquartered in Turin, while the software factory is located in Cagliari and employs over 40 employees between developers and Cloud Specialists.

Federico Protto, CEO of Retelit, stated: 'It is with great satisfaction that I announce the acquisition of Welol, which brings innovative skills and strengthens our offer, continuing to broaden our scope so as to create a platform for integrated services. Through this new transaction the growth of the Retelit Group continues, which saw two important milestones over a year ago with the acquisitions of PA Group and Brennercom. Thanks to Welol, Retelit consolidates its role as an enabler of innovation in support of all aspects of the digital transformation of companies, with a focus on the development of skills in the Modern Workplace and Cloud Azure areas, which integrate and complement the very strong Dynamics expertise. I am delighted to welcome all the people of Welol to Retelit.'

The founders of Welol, Alberto Jacomuzzi and Sandro Rosso, stated: 'Welol becomes part of the Retelit Group so as to contribute to the creation of a unique player in the Italian landscape able to offer, in addition to the development of solutions based on the entire Microsoft offer and Azure cloud, also the infrastructure that the country dearly needs. Since day one, we have found fertile ground for discussion and sharing, a place where ideas can produce exceptional results and accelerate any transformation process. From today we finally have the energy required to multiply our presence on the market, supported and spurred on by a large Group like Retelit, which has set a very clear path for the coming years'.

Retelit Digital Services has been assisted for the legal aspects by Nctm, with a team coordinated by Daniele Tani for the M&A aspects, assisted by Martina Da Re and Mattia Salvatori, and for the accounting and fiscal aspects of the transaction by Deloitte. Welol was advised by Daniel John Winteler and Franco Vernassa of Keiken Partners.

Disclaimer

Retelit S.p.A. published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 14:19:03 UTC.


ę Publicnow 2021
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Financials
Sales 2021 185 M 217 M 217 M
Net income 2021 13,0 M 15,2 M 15,2 M
Net Debt 2021 122 M 143 M 143 M
P/E ratio 2021 38,1x
Yield 2021 1,04%
Capitalization 495 M 580 M 580 M
EV / Sales 2021 3,33x
EV / Sales 2022 3,06x
Nbr of Employees -
Free-Float 41,6%
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Federico Silvano Protto Chief Executive Officer, Executive Director & GM
Mirko Endrizzi Chief Financial Officer & Head-Administration
Dario Pardi Chairman & Investor Relations Contact
Antonio Baldini Director-Information Technology
Enrico Mondo Chief Operating Officer & Co-General Manager
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