Exprivia to take over 85 percent of Balance to grow in salesforce services

(Alliance News) - Exprivia Spa announced Monday that it has signed a binding agreement to take over 85 percent of Balance Spa.

Balance is an ICT services company operating mainly in the field of salesforce services, a global leader in cloud-based customer relationship management solutions.

Exprivia and Balance's current shareholders have committed to subscribe to a cash capital increase, of which Exprivia's share will be EUR1.5 million, financed from its own funds; the purpose is to provide Balance with the financial resources to be able to pursue its planned growth and development objectives over the next four years.

The binding offer is contingent on the positive outcome of the due diligence normally expected for similar transactions and the approval of Exprivia's main lending banks; closing is expected by February 28, 2024.

The binding offer envisages the recognition to Balance's current shareholders of a potential earn-out that will be calculated on the basis of market multiples and economic-financial results for the years 2024-2027; the potential earn-out up to an amount equal to EUR6 million will be recognized to the extent of 100 percent while any share exceeding this threshold will be recognized to the extent of 50 percent.

"This transaction represents a further step in the growth of Exprivia Group. The main objective of our innovation strategy is, in fact, to enhance the offer by providing advanced and customized solutions, particularly in the finance, industry and utilities sectors," said Domenico Favuzzi, president and CEO of Exprivia.

"The synergy between the two companies will enable us to accelerate innovative processes and optimize activities towards our customers, providing a wider range of tools aimed at improving the management of modern business operations."

Exprivia's stock closed Monday at parity at EUR1.67 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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