MILAN, April 19 /CNW/ - Buongiorno S.p.A. (FTSE Italia STAR: BNG), a
leading multinational provider of services and solutions for the
mobile-connected life, signed a definitive agreement to purchase 100%
of the shares of Dada.net S.p.A.
The settlement price for the acquisition of Dada.net S.p.A. is
equivalent to EUR28.5 million, in addition to the consolidated net
financial position of Dada.net S.p.A. at the specified closing date.
Through this deal, Buongiorno will reinforce its global leadership as a
provider of mobile-connected life solutions, increasing its market
share in the B2C segment in several markets, particularly in North
The transaction is expected to results in around 150 new employees
joining Buongiorno's team, including Massimilano Pellegrini, Dada.net
S.p.A. CEO, who will join Buongiorno's Executive Team. Buongiorno has
undertaken to keep the employment level unchanged for a period of at
least 18 months after the closing date, and draw upon the professional
competencies and expertise of Dada.net's employees.
The cash price that Buongiorno will pay to Dada.net S.p.A. will be
funded by liquidity and new lines of credit, for which the Company has
already obtained the commitment of the financing banks.
The transaction is expected to be closed within 90 days following the
Dada.net operates in 16 countries: Italy, the USA, Canada, Germany,
France, Portugal, Australia, Spain, Belgium, Austria, Brazil,
Argentina, Mexico, Hungary, Indonesia, and South Africa.
The acquisition of Dada.net is fully in line with the strategic
objectives of Buongiorno, aimed at growing the business through both
market share in "traditional" B2C and B2B services, and through new
service development, particularly in the smartphone and App Store
Andrea Casalini, CEO of Buongiorno, commented:
"We are proud to announce the acquisition of Dada.net, which enables us
to strengthen the global leadership of an Italian company in a sector
of great economic and social importance - solutions for the mobile
connected life. The acquisition cements our position as an aggregating
company that has shown its ability to attract the best talents in the
market, also through M&A transactions.
"Dada.net is an acquisition of great importance, since it is not only
complementary in terms of products and geographical footprint, but it
also brings to Buongiorno the excellent skills of innovative product
primarily in the Internet mobile market, and enables us to win the
competition in a highly challenging environment at a global level. We
are also proud to welcome the professional team of Dada.net and to take
advantage, together with these professionals, of the opportunities
offered to us in this era of the mobile connected life. We believe that
this will also translate to great satisfaction for our shareholders."
SOURCE Buongiorno Spa
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