SABABA SECURITY S.P.A. (Alliance News) - Sababa Security Spa announced Friday that it has finalized the acquisition of a 40 percent stake in Digipoint Srl, a company specializing in providing CyberSecurity, network security, business continuity, disaster recovery and training services.
The purchase price for the stake was EUR2.2 million, paid entirely in cash.
In addition, a Digipoint shareholders' meeting was held on Friday to appoint the new administrative body, which is composed of the directors: Francesco Giuliano, Massimo Sartori, Marco Parmigiani, and Marco Radaelli, as well as Alessio Aceti and Giuseppina Aceti, the latter of whom are also managing director and director of Sababa, respectively.
The sale and purchase agreement provides for Sababa to exercise, by June 30, 2023, an option to purchase an additional 42 percent stake in Digipoint's share capital, at a price of EUR2.3 million - an amount that may be revised if Digipoint reaches certain marginality thresholds, provided for in the contract, in the 2023/2025 fiscal years and also provides for certain shareholders' agreements aimed at regulating the management of Digipoint, which, however, will be terminated if Sababa does not exercise its option to purchase the additional shares by June 30, 2023, the company explained in a note.
Sababa's stock is flat at EUR3.92 per share.
By Claudia Cavaliere, Alliance News reporter
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