Seco, among the main active Italian groups in the field of the internet of things and artificial intelligence, has signed a binding agreement for the acquisition of the German Garz & Fricke, which develops and implements hardware and software solutions for the Industrial Internet of Things. The total value of the transaction amounts to 180 million and includes a cash component of 165 million, as well as newly issued Seco shares of 15 million. During the current year, the Hamburg group will generate revenues of approximately 45 million, with an adjusted Ebitda of over 10 million. After the announcement, the group’s stocks gained a Business Square over 7%.
“The acquisition of Garz & Fricke Group is a pivotal moment in Seco’s growth project, and represents a unique opportunity to continue creating value for our shareholders and customers, in line with the strategy we communicated to the market during the listing process. For us, the acquisition of Garz & Fricke Group is a key step that allows us to increase our leadership position at European and global level, to strengthen our presence in a strategic market such as Germany, as well as to further accelerate the spread. of Clea on an ever-growing customer base, adding key skills and technologies to our product portfolio to continue providing the highest standards of quality and service to our customers, “said the CEO of the Italian group. Massimo Mauri.