Star7 S.p.A. (BIT:STAR7) entered into an agreement to acquire Vertere S.R.L. for €0.84 million from Franco Chiodaroli and Luca Menozzi on July 26, 2022. STAR7 is funding the acquisition of Vertere s.r.l. through existing liquidity. The deal also includes deferred payments according to Vertere's 2022 and 2023 financial results. In 2021, Vertere s.r.l. achieved revenues of €1.3 million and an EBITDA of €0.1 million. Vertere will remain a separate legal entity until 2023. Franco Chiodaroli will be appointed as Chairman of the new Board of Directors, and remains chief executive officer of Vertere s.r.l. and Luca Menozzi, will instead join STAR7's staff with a managerial role, as Head of Language Digital Transformation. BDO Italia S.p.A. provided financial, tax, legal and personnel due diligence to STAR7. Farina and Partners acted as legal advisors to Star7 S.p.A.

Star7 S.p.A. (BIT:STAR7) completed the acquisition of Vertere S.R.L. from Franco Chiodaroli and Luca Menozzi on July 26, 2022.