(Alliance News) - Intred Spa announced Wednesday that the closing of the transaction to acquire 100 percent of the share capital of Connecting Italia Srl, which took place through the purchase of the relevant shares of the company Aliedo Spa, has taken place.

With reference to the transaction, which provided for a consideration of EUR3.6 million for 100 percent of the share capital of Connecting Italia, Intred proceeded to pay the sellers an amount of approximately EUR3.25 million calculated net of the NFP as of Oct. 31, 2023, which will be subject to subsequent adjustment based on the NFP calculated as of today, the company explained in a note.

Daniele Peli, Co-Founder and CEO of Intred, commented, "We are proud to have completed this acquisition transaction with a reality that we consider to be strategic for our company, considering that it will allow us to increase the size of our business and at the same time improve the marginality of the acquired company thanks to the progressive migration of customers on the proprietary infrastructure."

Intred trades down 2.4 percent at EUR10.15 per share.

By Claudia Cavaliere, Alliance News reporter

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