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Boost to adesso Italia’s growth: adesso acquires Italian company WebScience

EQS-News: adesso SE / Key word(s): Takeover/Expansion
Boost to adesso Italia’s growth: adesso acquires Italian company WebScience
19.01.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

Boost to adesso Italia’s growth: adesso acquires Italian company WebScience
 

Dortmund/Milan, 19 January 2023 adesso is acquiring a 100% stake in Italian company WebScience, based in Milan, Italy. The acquisition of the rapidly growing, profitable software company reinforces adesso’s presence in Italy, which it only established in autumn 2021 by opening a Milan office. With around 100 employees, WebScience generates annual sales of just under EUR 10 million at an operating margin of roughly 15 %. The valuation stands at EUR 11 million but may increase by up to EUR 4 million over the next two years depending on the company’s earnings performance. As the newly renamed adesso Italia, the team at WebScience and its clients will benefit from the synergies offered by the adesso Group’s Europe-wide business.

Software developer WebScience S.R.L. was formed in 2000 and has spent more than two decades specialising in agility, application modernisation, cloud migration, cloud-native development and low-code approaches. It operates three sites: in Milan (northern Italy), Lecce (southern Italy) and Sofia (Bulgaria). The growth-centric firm fits perfectly with the adesso core brand in terms of its management, strategic orientation and cultural identity. It therefore meets the key requirements for the company’s M&A and the internationalisation strategy. Like adesso, WebScience is focused on optimising core business processes for companies in a variety of sectors.

The management team at WebScience will take over the management of adesso Italia moving forward. The existing Country Manager at adesso Italia, who is also Site Manager at adesso Lugano in Switzerland, will become a member of the Management Board as a representative of adesso. In this function, he will oversee the integration of WebScience and the fledgling adesso Italia into the Europe-wide adesso Group. WebScience’s Milan location will become the registered office and the headquarter of adesso Italia as part of the name change.

For Dirk Pothen, member of the adesso SE Executive Board and responsible for internationalisation at the Group, the merger with WebScience is a stroke of luck: “In WebScience, we are integrating a successful, established company into the adesso Group and expanding in a financially attractive region of Europe. By completing one of our largest acquisitions of recent years, we are injecting significant impetus into our international growth across what is now thirteen European markets.

WebScience clients, which include the likes of Benetton, Sisal and Elior, will now have access to the entire portfolio of the adesso Group.

 

Address and future registered office of adesso Italia:

adesso Italia
Viale Edoardo Jenner 51
20159 MILAN (MI)
Italy
www.adesso.it
info@adesso.it
Phone: +39 02 69773.1

 

 

adesso Group

With more than 7,500 employees and expected annual sales of more than EUR 800 million in 2022, adesso Group is one of the largest German IT service providers with outstanding growth opportunities. At its own locations in Germany, other locations in Europe and Turkey as well as at numerous local customers adesso offers consulting and software development services for optimising core business processes. adesso also offers ready-to-use software products for standard applications. The development of an own, industry-specific product portfolio opens up additional growth and earnings opportunities and is another key element of the adesso strategy. In 2020, adesso was awarded the title of the best employer of its size in Germany across all industries. After having already achieved first place among IT employers in 2016 and 2018, adesso was ranked first again in 2020.




Contact:
Martin Möllmann
Head of Investor Relations
Tel.: +49 231 7000-7000
E-Mail: ir@adesso.de


19.01.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:

English

Company:

adesso SE

Adessoplatz 1

44269 Dortmund

Germany

Phone:

+49 231 7000-7000

Fax:

+49 231 7000-1000

E-mail:

ir@adesso.de

Internet:

www.adesso-group.de

ISIN:

DE000A0Z23Q5

WKN:

A0Z23Q

Listed:

Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; London

EQS News ID:

1538183


 

End of News

EQS News Service

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