(Alliance News) - SolidWorld Group Spa announced Thursday that it has signed an agreement with BF Forniture Ufficio Srl to take over the technology arm of the company, which specializes in IT consulting and digital transformation services, design and management of software and solutions in the ICT field.

The transaction concerns the business unit active in the marketing of SolidWorks 3D CAD software, software developed by Dassault Systèmes SE and of which SolidWorld is also an authorized reseller in Italy.

The economic value of the acquisition is approximately EUR2.6 million, and the goal of the deal is to create a single verticla reality in the field of 3D CAD software design and development.

SolidWorld acquires the current and past client portfolio of BF Forniture Ufficio, with particular coverage of Northern Italy - Lombardy, Veneto and Emilia-Romagna - and specialized skills that will join the group. The transaction is strategic in that it will enable SolidWorld to generate profitability while strengthening Ebitda. Closing is expected by the first week of August.

"We strongly wanted this acquisition," said Roberto Rizzo, president and founder of SolidWorld Group, "as it allows us to increase our share of the Italian market in the 3D design and software sector both through the contribution of a relevant customer portfolio and thanks to the product policies that we will be able to apply from which we expect significant benefits in terms of marginality. At the closing of the transaction, thanks also to the market share conferred by BF Forniture Ufficio, Solid World will strengthen its leadership by operating, at the same time, business levers and cross selling on acquired customers."

Solid World's stock is up 3.1 percent at EUR4.36 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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