(Alliance News) - ReeVo Spa announced Tuesday that it has begun its internationalization process with the opening in Spain of ReeVo Cloud & Cyber Security SLU, a limited liability company under Spanish law, wholly owned by ReeVo.

The Spanish company will have its headquarters and data center in Alcobendas Madrid and at the operational helm with the role of Country Manager and board member is Matteo Restelli, former president of Esprinet Iberica.

The decision to focus on the Spanish market, the company explains, is the result of "a careful analysis and evaluation of the socio-economic and cultural context of Spain, a country that, like Italy, has a business fabric characterized by the strong presence of SMEs, with a level of maturity of the Cloud and Cybersecurity services market comparable to that of Italy."

Salvatore Giannetto and Antonio Giannetto respectively president and CEO of ReeVo commented, "We are very proud to communicate this important transaction. The opening of this company is the first step in the internationalization process undertaken. The Spanish team captained by Matteo Restelli, an outstanding manager with strong experience, is ready to set sail in the Spanish market, which from our analysis is very similar to the Italian one, and where we expect to replicate our business model benefiting, also in this country, from the package of investments and reforms provided in the PNRR."

ReeVo's stock on Tuesday is flat at EUR13.80 per share.

By Chiara Bruschi, Alliance News reporter

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