(Alliance News) - SG Company Società Benefit Spa announces Thursday that it has signed a binding agreement to acquire a 20.224 percent stake in the share capital of Socialbroker Srl through the investment of EUR975,000 in the capital increase that Socialbroker will carry out today, for a total of EUR1.3 million, aimed at raising the financial resources necessary for the development and implementation of its business.

Socialbroker, SG points out in a note, is an innovative SME, based in Milan, active since 2016 in the development and commercialization of advanced software technologies, with a focus in the insurance and financial sectors. It is a leading player among insurance intermediary aggregators and aims to increase sales of traditional insurance networks through the use of profiled leads.

Socialbroker is also the owner of the digital application "Pinguando" and its brand, which, thanks to the technology on which it is based, makes it possible to generate contacts between insurance intermediaries and users interested in purchasing insurance products in the automotive field, realizing a phygital distribution model that promotes informed product purchase. The user no longer needs to do lengthy research on the web before getting insurance: he only needs to take a picture of his car's license plate and after a few questions he will be directed based on a geolocation and proximity criterion to the insurance agent who will support him in choosing the most appropriate policy for his needs. Pinguando's humanizing factor ensures an informed purchase protected by the expertise of a professional intermediary, with the aim of fostering lasting interpersonal relationships.

"The acquisition of a stake in the share capital of Socialbroker marks SG Company's entry into a new business sector, implementing the technological and digital value of the group's offering. The transaction is part of the strategic path related to data valorization and lead tracking that SG Company is pursuing, in line with the strategic directives set out in the group's 2021-2023 Business Plan," the company specified in a note.

"In perspective, the investment could also contribute to the pursuit of the company's strategic lines related to the internationalization of services, as Pinguando's operating model is configured as easily replicable outside the national territory."

Since 2022, moreover, SG Company - indirectly through its subsidiary Brainwaves Srl - has been Socialbroker's main service provider in the area of the conception and development of communication projects and media campaigns precisely on the basis of lead generation and profiling, and this collaboration will continue in the coming months.

Following the transaction, Socialbroker will commit to divest its asset related to the brokerage business by June 30, 2024.

As of Dec. 31, 2022, Socialbroker had revenues of EUR114,601.

SG Co's stock is down 1.3 percent at EUR0.30 per share.

By Chiara Bruschi, Alliance News reporter

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