TXT E-Solutions — M&A Activity 2020

Jul 13, 2020

Informazione Regolamentata n. 0439-65-2020		Data/Ora Ricezione 13 Luglio 2020 18:08:51	MTA - Star
Societa'	:	TXT e-SOLUTIONS
Identificativo Informazione Regolamentata	:	134913
Nome utilizzatore	:	TXTN02 - Favini
Tipologia	:	2.2
Data/Ora Ricezione	:	13 Luglio 2020 18:08:51
Data/Ora Inizio Diffusione presunta	:	13 Luglio 2020 18:08:52
Oggetto	:	TXT acquired Mac Solutions SA
Testo del comunicato

Vedi allegato.

TXT e-solutions: executed today the agreement for the acquisition of the Swiss MAC Solutions SA

TXT consolidates Mac Solutions SA's results from 14 July 2020

Milan, July 13, 2020 – h. 18:00

TXT executed today the agreement for the acquisition of MAC Solutions SA, at the conditions already disclosed in the press release published on 18 June 2020.

Today the transfers of the quotas provided for in the agreement have been executed, leading TXT to the acquisition of 100% of the capital of MAC Solutions SA; such transfers allow TXT to consolidate MAC Solutions SA's results starting from tomorrow, 14 July 2020.

Mac Solutions SA - Swiss company operating for over 20 years on the market as specialist in the provision of ICT professional services for the banking markets, in the supply and integration of financial software and in the development of innovative software and web App designed through the software factory serving local customers – in 2019 achieved revenues of CHF 4.8 million and EBITDA of CHF 1.08 million.

At Closing TXT paid CHF 5.4 million in cash, of which CHF 2.2 million – equal to the maximum value of the Clawback clause agreed by the parties to maximize the commitment of the seller in achieving the objectives - into escrow accounts related to the performance of Mac Solutions SA in the three-year period 2020-2022.

The consideration shall be increased by further payments by cash based on the Net Financial Position of Mac Solutions SA on Closing Date, as conventionally defined in the agreement, estimated positive by CHF 1.2 million.

"The acquisition allows TXT to expand its international footprint and competences in the FinTech market", commented Daniele Misani, CEO of TXT Group, "the operation executed today will promote the marketing of Group's proprietary solutions, aiming to start the internationalization process successfully implemented in the Aerospace & Aviation division".

We also recall that Mac Solutions SA, during the lockdown period, maintained the precrisis volumes and efficiency thanks to the strategic competences and know-how built up over the 20+ years serving its customers.

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TXT e-solutions is a world leader in the supply of software products and strategic solutions. It operates in dynamic markets that require high specialisation and the capacity to innovate. TXT is focused on software for the aerospace, aeronautical and automotive sector, where it offers specific products and specialist engineering services and on the Fintech sector with services related to testing and IT governance and products and solutions for the management of loans, NPLs and large financial system risks. Listed on the Italian Stock Market since 2000 in the Star segment (TXT.MI), TXT has its registered office in Milan and offices in Italy, France, the UK, Germany, Switzerland and the USA.

For further information:

Andrea Favini IR - Tel. +39 02 257711