Lumibird SA (ENXTPA:LBIRD signed an agreement to acquire Convergent Photonics Italia S.r.l and Convergent assets of Prima Industrie North America from Prima Industrie SpA on May 15, 2023. Lumibird will finance its acquisition through its available cash or by drawing on the bank lines available to the group, in compliance with the covenants. 80 people of Convergent divided between Italy and the USA, will join the Lumibird Group.

The Convergent activities had a turnover of 15 million euros in 2022 for a negative EBITDA of 1.5 million euros. The acquisition is subject to regulatory approvals in Italy and the US. The transaction is excepted to be completed in the second half of 2023.

Hubert Segain, Augusto Santoro, Michela Merella, Cesare Saputo, Francesca Morra, James Robinson, Joseph Falcone, Jonathan Cross, of Herbert Smith Freehills acted as legal advisor to Lumibird.