STRATEGIC ACQUISITION IN ITALY IS COMPLETE

Aubay, an integration and technology consultancy company which specializes in information and industrial systems, networks and telecommunications, has finalized the acquisition of 60% of Italian company, Blue Sof Consulting. The operation will enable Aubay to strengthen its market position and share in Italy across different strategic sectors.

Present on the IT market in Italy for some fifteen years now, Blue Sof Consulting’s activities are a strong fit with Aubay group’s current operations in the country.

Geographic fit: The acquisition of Blue Sof Consulting will enable Aubay to establish itself in Turin with a headcount of close to 130 employees, as well as adding 110 and 20 new members of staff respectively to its operations in Milan and Rome.

Sector fit: The acquisition will also give Aubay privileged access to the strategic sectors of insurance, energy and manufacturing via Blue Sof Consulting’s portfolio of clients which include Allianz, Generali Group, IntesaSP, Carige, Zurich and Fon SAI as well as Magneti Marelli, Fiat Group, Ferrero and EON. Blue Sof Consulting has also forged longstanding commercial links within the telecoms sector.

The company posted revenues of €16.5 million in 2012 and is expected to generate the same levels in 2013. Its founding directors will help oversee its integration within Aubay group over at least 3 financial years.

The acquisition, which was paid entirely in cash, will be integrated in Aubay’s accounts as of April 1, 2013.
As a result of the operation, Aubay’s activities in Italy are expected to generate yearly proforma revenues of approximately € 57 million in 2013 for 900 employees.
This acquisition is the next logical step in achieving the group’s ambition to reinforce its market share and become a benchmark operator in Italy. It is also another step in achieving the group’s target of a payroll of over 1,500 employees in Italy within the next three years.

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