CAD IT acquires 30% of the Spanish company … – La Stampa

CAD IT acquires 30% of the Spanish company Software Financiero Bolsa

          

The CAD IT Group, a leader in the Italian market software for finance and listed on the STAR segment of the Italian Stock Exchange (www.caditgroup.com), strengthens its presence in the European market with the acquired 30% of the software Financiero Bolsa capital (SFB) (www.sfb.es) . Founded in 1994 and headquartered in Madrid, SFB is Spain’s leading provider of software solutions for front, middle and back office through which it is processed on a daily basis the settlement instructions for an amount greater than 50% of trading volumes traded in the stock exchange Madrid. SFB concludes the year 2015 with revenues of 4.8 million euros, net profit of 1.1 million euros and a net financial position Active 2.4 million. The purchase value of the 30% of SFB capital amounted to 250 thousand euros paid in cash at the first closing, which will be added the payment of the final price will be after the close of the budget 2018 (second closing) and will be determined in based on the results you will get SFB in the years 2016? 2018. On that date CAD IT will have the option to acquire additional shares to reach the 51% controlling stake, or up to 100% of the capital as a function of the existing shareholders to exercise a right to SFB PUT the remaining 49%. With this operation CAD IT strengthens its presence in software for finance in Europe and confirms the strong interest to develop in the Spanish market, offering highly innovative products with SFB already adopted by 90% of Italian banks and customers in Switzerland, Germany, England and the Czech Republic. This agreement provides CAD IT major opportunity to increase revenues through:
– the strong commercial presence and SFB technique in Spain and Portugal;
– to the existing customer base of SFB, about 40 financial institutions that could be proposed CAD IT products complementary to those of SFB;
– to opportunities for cross-selling of products SFB on CAD IT customers;
– the credibility of the two brands on the market.
Paolo Dal Cortivo, CEO of CAD IT, he joined the Board of Directors of SFB along with three other councilors expression of the current shareholders. Luis Poblador will continue in his role as CEO of SFB until 2018. Giuseppe Dal Cortivo, President of CAD IT Group said: “This transaction broadens the business horizons of the CAD IT Group to Spain and Portugal. SFB is a company that is known for professionalism, product quality, market positioning, and which reflects the values ​​of seriousness, reliability and knowledge of the business also pursued by the CAD iT Group in their business strategies. ” Luis Poblador CEO of SFB said: “This alliance with CAD IT offers a wonderful opportunity to increase the portfolio of solutions that SFB and CAD IT will offer the financial sector in Spain, Portugal and later in Latin America. The experience CAD IT on some technological and regulatory issues such as Target 2 Securities will bring great value to our expansion strategy. ” CAD IT was advised by Debora Cremasco lawyers and Nicola Grigoletto, with the lawyer’s support José Ruiz? CÃ mara the MPA Abogados Madrid studio for the legal aspects and the Network PKF for due diligence .

(RV)