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    TIT   IT0003497168

TELECOM ITALIA S.P.A.

(TIT)
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Real-time Borsa Italiana  -  11:44:59 2023-05-26 am EDT
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05/26Tim : Elio Schiavo appointed Chairman of Olivetti
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Telecom Italia S p A : Olivetti acquires Staer Sistemi and speeds up on the...

10/05/2021 | 05:46am EDT

Olivetti, TIM Group's digital farm for the IoT, has signed an agreement to acquire 100% of Staer Sistemi, a system integrator and product developer in the industrial IoT sector.

The transaction allows Olivetti to further rationalise its distribution chain, accelerate the time to market of its products, guarantee end-to-end control over the entire IoT value chain, as well as increase and strengthen references on complex design solutions, particularly for the development of other IoT business segments (Safety and Security Industrial Solutions, Building Management Systems).

Staer Sistemi, a company based in Rome, has advanced skills in the design and integration of software and hardware solutions (in particular low energy consumption sensors) for the control of plants, machinery and infrastructure, mainly for the energy and utilities, infrastructure, telco and broadcast market sectors.

In synergy with the industrial partnership agreement established with SECO, a centre of excellence in the field of technological innovation and the Internet of Things, the acquisition will see Olivetti strengthen its design and production engineering capabilities in the IoT field, allowing it to become a leader in the supply of end-to-end solutions, both for customised projects and for the standardisation of off-the-shelf services.

"With this acquisition- says Quang Ngo Dinh, Olivetti CEO - we are taking a further step in the evolution of Olivetti, which is determined to establish itself on the national market as the reference operator in the provision of IoT solutions for companies and public administration. The acquisition of Staer gives us the multi-sectoral skills needed to develop software and integrated systems, while allowing us to create value and seize an important opportunity for digital development and evolution".

***

Olivetti,a historic brand of Italian industry and Digital Farm for the TIM Group's IoT solutions, operates on the domestic and international markets as a renewed, evolving company, centring its activities around the generation of value for its customers.Thanks to its wide range of cutting-edge products and services, it combines leadership in the retail and office segments with consolidated experience in the Internet of Things, storage and proximity data processing systems and advanced wired, wireless and Machine-to-Machine connectivity sectors. Its distinctive expertise in business enablement is implemented through digital evolution and innovation with a portfolio of solutions aimed at the business market (B2B, B2B2C, B2C, B2G) exploiting the enabling technology provided by TIM Group's fixed and mobile network, and in particular by 5G technology.

www.olivetti.com

Ivrea, October 5, 2021

Disclaimer

Telecom Italia S.p.A. published this content on 05 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 October 2021 09:44:10 UTC.


ę Publicnow 2021
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P/E ratio 2023 -18,8x
Yield 2023 -
Capitalization 5 455 M 5 839 M 5 839 M
EV / Sales 2023 1,82x
EV / Sales 2024 1,81x
Nbr of Employees 50 305
Free-Float 74,7%
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