Tweppy signs agreement to acquire 100 percent of Syncrogest

(Alliance News) - Tweppy Spa announced Friday that it has signed a binding agreement to acquire 100 percent of the share capital of Syncrogest Srl.

The amount agreed upon is EUR740,857 and will be paid to current shareholders Valerio Giacomelli, Silvia Canova and Syncronika Srl holding 70 percent, 20 percent and 10 percent of the share capital, respectively.

Syncrogest, Tweppy points out in a press release, is active in the development and commercialization of a SaaS - Software as a Service - platform, called Syncrogest, for the provision of services for the optimization and control of business processes of companies that allows, more specifically, the integrated management of technical assistance processes.

As of December 31, 2023, Syncrogest had revenues of EUR262,438, Ebitda of EUR66,741, assets of EUR257,637, and a Net Cash Position of EUR119,378.

Tweppy will use equity to meet the payment of the consideration.

Closing is expected by the end of May 2024.

Tweppy's stock is flat at EUR0.81 per share.

By Chiara Bruschi, Alliance News reporter

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