Seco — M&A Activity 2021

Aug 3, 2021

Informazione Regolamentata n. 2358-50-2021		Data/Ora Ricezione 03 Agosto 2021 00:04:37	MTA - Star
Societa'	:	SECO
Identificativo Informazione Regolamentata	:	150713
Nome utilizzatore	:	SECON03 - -
Tipologia	:	REGEM
Data/Ora Ricezione	:	03 Agosto 2021 00:04:37
Data/Ora Inizio Diffusione presunta	:	03 Agosto 2021 07:00:07
Oggetto	:	Industrial partnership agreement signed between Olivetti-TIM Group and SECO
Testo del comunicato

Vedi allegato.

PRESS RELEASE

Industrial partnership agreement signed between Olivetti-TIM Group and SECO

• SECO and Olivetti, TIM Group's IoT digital factory, strengthen their industrial partnership
• Co-developed hardware and software solutions branded "Olivetti powered by SECO" to be launched
• Massimo Mauri (CEO SECO) and Roberto Tundo (CEO Olivetti) will be available on Wednesday September 1 at 15.00 CET to illustrate the economic effects of the partnership

Ivrea/Arezzo, August 3, 2021 – Olivetti SpA, ("Olivetti"), digital farm for TIM Group's IoT solutions, and SECO SpA ("SECO"), reference player in the field of technological innovation and Internet of Things solutions, have signed a multi-year industrial partnership agreement to jointly work at the development and commercialization of smart hardware and software solutions to accelerate the digitalization process of business customers.

In light of the agreement, SECO strengthens the industrial partnership with Olivetti with regards to the supply of hardware devices currently included in SECO's product catalogue, as well as for the co-development of hardware and software solutions dedicated to Olivetti and to be distributed with the brand "Olivetti powered by SECO".

SECO will also make available to Olivetti SECO Mind's artificial intelligence and data analytics expertise for the integration and the development of Olivetti proprietary horizontal and multi-layer software solutions, to be fully integrated with Olivetti's Business Services Automation offering. Such solutions will find application both in sectors in which Olivetti has launched a dedicated proposition (smart cities, urban services, industrial automation, smart agriculture, etc.) and in the digital payment systems world, as well as in the world of connected devices.

This partnership has been thought to accelerate the digital transformation process of TIM Group's business clients, both in the Large and Small-Medium Enterprises segments, as well as the Public Administration sector. Products released by Olivetti thanks to the industrial partnership with SECO will be sold in exclusivity by the TIM Group's sales force.

The agreement allows Olivetti to significantly rationalize its supply chain and accelerate the time-to-market of its products, being able to count on the R&D expertise of SECO as Olivetti's technology partner and preferred supplier for the world of IoT solutions: SECO will ensure the qualitative standards and the efficiency of the products manufacturing processes, as well as the efficient management of the supply chain and the optimization of the activities related to the production phase. In addition, SECO will make its System Integration, Hardware Development, Software Development, Validation & Verification teams available, together with its simulation and testing labs so as to minimize the certification and launch of the new products developed within the context of the partnership.

PRESS RELEASE

The go-to-market strategy and the roadmap of the co-developed products will be agreed and coordinated by a directional Committee participated by Olivetti and SECO CEOs, among others. This committee will be supported by cross-company teams focused on the definition of technical, operational and commercial guidelines for the diffusion of the solutions developed within the context of the partnership.

"We are convinced that digitalization, Internet of things and artificial intelligence represent fundamental opportunities for the development and the increased competitiveness of Italian companies. In SECO we have found the ideal partner to accelerate the diffusion of these enabling technologies in our country's industrial landscape", said Giovanni Ronca, Olivetti Chairman.

"Thanks to the industrial partnership agreement between Olivetti and SECO, starting from today Italy's industrial landscape and Public Administration can count on a primary partner to grab an unmissable development and digital evolution opportunity, resuming in this way a sustainable and durable economic growth path, also made possible by the tools the NRRP makes available in these fields", said Roberto Tundo, Olivetti CEO.

"We are delighted to start this industrial collaboration with Olivetti and the TIM Group. Today, more than ever, the need for digitalization is more and more widespread in any industrial sector, and the combination between the technologies of SECO and Olivetti with the strength of TIM's sales force represents a unique opportunity to effectively address these needs and further accelerate our organic growth", said Massimo Mauri, SECO CEO.

PRESS RELEASE

Olivetti

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, centering 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

SECO

SECO (IOT.MI) develops and manufactures cutting-edge technological solutions, from miniaturized computers to fully customized integrated systems combining hardware and software. SECO also offers Clea, a proprietary end-to-end IoT-AI analytics software suite, made available on a SaaS basis, that allows clients to gather insightful data from their on-field devices in real time. SECO employs over 500 people worldwide and operates through 3 production plants, 6 R&D hubs and sales offices in 9 countries. With a turnover of more than €75 million as of December 31, 2020, SECO serves more than 200 blue-chip customers which are leaders in their respective fields, including Medical, Industrial Automation, Aerospace & Defense, Fitness, Vending and many other sectors. SECO R&D capabilities are further enhanced by long-lasting strategic partnerships with tech giants and collaborations with universities, research centers, and innovative start-ups. Corporate social responsibility is part of the strategy of SECO, that undertakes several actions to reduce its environmental footprint and increase its impact on its people and local communities.

For more information:http://www.seco.com/

Endless ways to the future

PRESS RELEASE

Contacts

	SECO	Olivetti
SECO SpA Marco Parisi Head of Investor Relations	COMMUNITY GROUP Marco Rubino Tel. +39 335 6509552	Olivetti Communication comunicazione@olivetti.com Twitter: @OlivettiOnline
Tel. +39 0575 26979 investor.relations@seco.com	Marco Tansini Tel. +39 335 1899228 seco@communitygroup.it	TIM Press Office +39 06 3688 2610
		https://www.gruppotim.it/media Twitter: @TIMnewsroom