Tinexta — M&A Activity 2017

Jul 25, 2017

Informazione Regolamentata n. 20053-31-2017		Data/Ora Ricezione 25 Luglio 2017 19:16:37	MTA - Star
Societa'	:	Tecnoinvestimenti S.p.A.
Identificativo Informazione Regolamentata	:	92197
Nome utilizzatore	:	TECNOINVNSS01 - KAY
Tipologia	:	3.1
Data/Ora Ricezione	:	25 Luglio 2017 19:16:37
Data/Ora Inizio Diffusione presunta	:	25 Luglio 2017 19:16:37
Oggetto	:	MERGER OF RIBES INTO ASSICOM ASSICOM RIBES S.P.A.	APPROVED THAT WILL GIVE RISE TO
Testo del comunicato

Vedi allegato.

PRESS RELEASE

Credit Information: a new Italian pole

MERGER OF RIBES INTO ASSICOM APPROVED THAT WILL GIVE RISE TO ASSICOM RIBES S.P.A.

• Commercial offer synergies to increase revenue
• Cost efficiencies to improve profitability
• EBITDA margin: an increase of 3 percentage points expected by 2018
• Investment project for to enrich databases approved: new services coming soon

Rome, 2017, July, 25. Assicom Ribes S.p.A. to be formed, the second operator in the Italian market of Credit Information, by value of revenues. Today the boards of directors of Assicom SpA and Ribes SpA have approved unanimously the draft terms of merger by incorporation of Ribes into Assicom. It is foreseen that the new reality will be legally established by the end of 2017. The merger, planned for 2018, has been accelerated after the Group parent company Tecnoinvestimenti acquired, between March and April 2017, the minority interests of the two companies operating in Strategic Business Unit (SBU) of Credit Information and Management.

The proposed merger between Assicom and Ribes follows the design of Tecnoinvestimenti S.p.A., now the sole shareholder of both companies, to form a single enterprise that will operate as an integrated unit. As a consequence the unified company will thereby be able to compete more effectively in its reference market and enhance its competitive position in the medium term. Revenue and cost synergies will allow the company to invest gradually to enlarge its information data base and extend its product range in all the markets in which it operates (financial, corporate, SME and professionals) where it provides Credit Information and Credit Management services.

The synergies will enable the combined entity's EBITDA margin to increase by more than 3 percentage points by the end of 2018. This target will be achieved by simplifying Corporate Governance, realizing selective operational synergies and increasing the competitiveness of value-added services offered to the Tecnoinvestimenti Group customer base, which is a result of currently ongoing investments in existing proprietary databases.

THE TECNOINVESTIMENTI GROUP

The Group is one of Italy's top operators in its three areas of business: Digital Trust, Credit Information & Management and Sales & Marketing Solutions. The Digital Trust Business Unit, through InfoCert, Sixtema and Visura, provides products and services for document digitalization, electronic billing, electronic delivery and ature.

InfoCert is the leading European Certification Authority and a Digital Identity Provider accredited with the Italian Government. The Credit Information & Management Business Unit, which includes Ribes, Assicom and their subsidiaries, offers decision-making support services such as Chamber of Commerce and real estate information, aggregate reports, summary ratings and decision-making models, with special emphasis on the supply and assessment of credit and collection services. ReValuta offers real estate services, including appraisals and valuations. The Sales & Marketing Solutions Business Unit, through Co.Mark, offers solutions and tools to help small and medium-sized companies expand internationally.

The Tecnoinvestimenti Group reported in 2016 Total revenue of €147.3 million, EBITDA of €29.7 million and Net profit of €12.1 million. The Adjusted Net profit, which excludes nonrecurring components and the amortization recognized in connection with business combinations, amounted to €15.9 million. Tecnoinvestimenti is listed on the STAR segment of Telematic Equity Market of the Milan Stock Exchange.

Website: www.tecnoinvestimenti.it; Stock ticker: TECN; ISIN Code IT0005037210

CONTACTS
Corporate & Financial Communications	Media Advisor	Specialist
Lawrence Y. Kay	Barabino & Partners S.p.A.	Intermonte SIM S.p.A.
E-mail: lawrence.kay@tecnoinvestimenti.it	Foro Buonaparte, 22 - 20121 Milano	Corso V. Emanuele II, 9 - 20122 Milano
Carla Piro Mander	Tel.: +39 02 7202 3535	Tel.: +39 02 771151
Tel. +39 06 42 01 26 31	Stefania Bassi: +36 335 6282 667
E-mail: carla.piro@tecnoinvestimenti.it	s.bassi@barabino.it