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TXT E-Solutions — Share Issue/Capital Change 2023
Apr 13, 2023
4061_ip_2023-04-13_17733fb5-e68d-4105-8d7e-12f79ce0a6a0.pdf
Share Issue/Capital Change
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| Informazione Regolamentata n. 0439-33-2023 |
Data/Ora Ricezione 13 Aprile 2023 18:51:42 |
Euronext Star Milan | |
|---|---|---|---|
| Societa' | : | TXT e-SOLUTIONS | |
| Identificativo Informazione Regolamentata |
: | 175219 | |
| Nome utilizzatore | : | TXTN02 - Favini | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 13 Aprile 2023 18:51:42 | |
| Data/Ora Inizio Diffusione presunta |
: | 13 Aprile 2023 18:51:43 | |
| Oggetto | : | Insurtech: Investment in Digital Innovation | |
| Testo del comunicato |
Vedi allegato.
PRESS RELEASE
Insurtech: Investment in Digital Innovation Capital Increase in a start-up for which TXT will be a technological partner
- TXT e-solutions S.p.A. ("TXT), as part of its growth plan concerning its offering in innovative Smart Solutions, announces that on April 13, 2023, an agreement for the investment in the share capital of Simplex Human Tech Srl ("Simplex") was signed;
- This investment is reserved to TXT, which involves an increase in capital to the value of € 3.0 million, which represents 15.0% of TXT's shareholding of Simplex, a start-up established from the vision of former Managers within the Banking & Insurance sector. Their experience in senior roles in major national groups enables the ambitious goal of creating the insurance industry's leading independent distribution structure, focusing on the Protection and Wealth Management insurance sectors, through the implementation of a technology platform that enables the optimisation and total control of sales processes and the consequent drastic reduction of transactional costs;
- As part of the investment project, TXT will be a key figure in the development, implementation, and technological evolution of the Insurtech platform of Simplex, leveraging a contract for the provision of services and licenses for a value higher than € 2 million for the next five year, excluding expected extensions.
Milano, 13 April 2023 – 18:30
TXT e-solutions S.p.A. ("TXT"), a company listed on the STAR Segment of the Mercato Telematico Azionario organised and managed by Borsa Italiana S.p.A., informs that on April 13, 2023, an increase in capital in Simplex Srl ("Simplex") was signed, by virtue of which TXT holds a minority shareholding in Simplex amounting to 15.0% of share capital of the start-up Insurtech.
Simplex was founded as a start-up company by former managers in the Banking & Insurance sectors, who held senior roles in major national groups, and now has the goal of leading digital innovation in the insurance industry with focus on the Protection and Wealth Management insurance sectors, through the implementation of a technology
PRESS RELEASE
platform that enables the optimisation and total control of sales processes and the consequent drastic reduction of transactional costs.
Simplex's technological platform, which will be developed, maintained, and furthered by the TXT Group, by leveraging on TXT Novigo's consolidated, specialised and innovative skills, will consist of an integrated end-to-end platform. This platform will be made available to direct and indirect distribution networks, enabling the commercialisation of selected insurance products thanks to the relationship with partner companies and the construction of a management and commercial model which will be fully integrated with current regulations, partner companies, giving the possibility to scale national and international markets of reference.
For the construction, maintenance and development of the Simplex's technological platform, TXT Novigo signed a service and software licence agreement with the start-up company for a total value of more than €2 million for the next five years, excluding future extensions.
When evaluating the investment, in addition to the licensing revenues of the platform provided to Simplex and its possible developments, TXT noted several strategic aspects, such as the entry into the Insurtech market and the opportunity to play a primary role in the digitalisation of the Protection and Wealth Management insurance sectors.
The investment in Simplex was unanimously approved by TXT's Board of Directors.
TXT is an international IT Group, end-to-end provider of consultancy, software services and solutions, supporting the digital transformation of customers' products and core processes. With a proprietary software portfolio and deep expertise in vertical domains, TXT operates across different markets, with a growing footprint in Aerospace, Aviation, Defense, Industrial, Government and Fintech. TXT is headquartered in Milan and has subsidiaries in Italy, Germany, the United Kingdom, France, Switzerland and the United States of America. The holding company TXT e-solutions S.p.A, has been listed on the Italian Stock Exchange, STAR segment (TXT.MI), since July 2000.
For further Information:
Daniele Misani - CEO Tel. +39 02 257711 [email protected] -- Andrea Favini – IR Tel. +39 02 257711 [email protected]
TXT e-solutions S.p.A., Via Milano, 150 - 20093 Cologno Monzese (MI) - Italy, Tel. +39 02 257711 Fax. +39 02 2578994, PEC [email protected], C.F./P.IVA/Registro delle Imprese di Milano, Monza Brianza e Lodi n. 09768170152, Capitale Sociale € 6.503.125,00 i.v.