(Alliance News) - IDNTT SA announced Monday that it has exercised its option right on the purchase of an additional 15 percent stake in the share capital of In-Sane! Srl from non-operating partner Perseo Srl, at a price of EUR360,000.

As announced on November 16, 2022, the transaction to acquire 60% of the share capital of InSane! Srl included a purchase option granted to IDNTT for an additional 15 percent stake, exercisable by 2025, at a price calculated on the basis of a multiplier of In-Sane!'s Ebitda and further price adjustments with respect to the net financial debt and the results actually achieved by In-Sane! in the year ended Dec. 31, 2022.

In-Sane!, the company explained in a note, ended fiscal year 2022 with revenues of EUR9.7 million, up more than 115 percent from 2021, enabling the group to target pro forma consolidated revenues of EUR19.6 million.

IDNTT's stock on Monday closed at a par at EUR3.22 per share.

By Chiara Bruschi, Alliance News reporter

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