Sesa — M&A Activity 2015

Jul 10, 2015

PRESS RELEASE

ACQUISITION OF THE CONTROLLING SHARE CAPITAL OF APRA S.P.A.

Empoli, 10 July 2015 - Sesa S.p.A., a leading italian Group in the field of high value-added IT solutions with a turnover of about Euro 1 billion, announces the purchasing, through the fully owned company Var Group S.p.A. (division Sofware and System Integration of Sesa Group) of 50% of share capital of Apra S.p.A., a company with headquarter in Jesi (AN), rising to 60% of the capital and consequently obtaining the control.

The acquisition was made following the exercise of the call option as provided in the framework agreement signed on 23 December 2013 between Var Group and Apra's shareholders and already announced to the market.

Apra S.p.A. is a leading System Integrator active in central and eastern Italy focusing in services and vertical software solutions oriented to SME and Enterprise market in certain sectors of excellence of Made in Italy (wine and furniture) with about 2,000 business customers.

Apra S.p.A. on the basis of the Annual Report at 30 April 2015 showed a turnover of about Euro 16 million, an Ebitda of about Euro 1 million, a net profit of over Euro 200 thousand and a negative Net Financial Position (net debt) equal to about Euro 500 thousand.

The price for the purchase of the remaining 50% of Apra S.p.A. share capital is equal to Euro 2 million, paid together with the purchase, plus an additional amount up to Euro 1,150 thousand, as earn-out, to be paid within 36 months following the purchase after fulfillment of certain conditions of continuity and growth in operating profitability of Apra S.p.A.

"With this transaction Var Group continues to expand its portfolio of vertical solutions dedicated to Made in Italy further strengthening its market share in the SME and Enterprise market and integrating the expertise of Apra in our offering" stated Giovanni Moriani, Executive Vice President of Sesa S.p.A.

For information

Sesa S.p.A. Via Piovola, n. 138 – Empoli (Florence) Conxi Palmero ph. +39 0571 997326 investor@sesa.it