Italy's Tinexta scouting for acquisitions in Italy and abroad, CEO says

Tinexta SpA

20/10/2021 12:43

MILAN, Oct 20 (Reuters) - Italy's Tinexta is looking for
potential acquisition targets in Italy and abroad, the digital
services group's chief executive said on Wednesday, mentioning
in particular Spain, Germany, France and Great Britain.
    Tinexta  TNXT.MI , which provides services including
electronic invoicing and digital signature, is controlled by
some Italian chambers of commerce.
    The group also has cyber security, credit information as
well as management and advisory services units. 
    In an interview with Reuters, CEO Pier Andrea Chevallard
said the group targeted digital services or advisory companies
outside of Italy.
    On its home turf, Tinexta is also exploring potential deals
in the cyber security sector, after it created a new unit last
year following the takeover of three small companies.
    "We need to expand our services and we can do this quickly
only through acquisitions", Chevallard said.
    He expressed confidence the group would reach its 2021
targets which project revenues at 370 million euros and core
profit at 96 million euros.
    Italy's Recovery and Resilience Plan (PNRR), which allocates
40 billion euros to speed up digital progress in the country,
will boost Tinexta's business, Chevallard said, adding that it
was too early to quantify the impact on revenues.  

 (Reporting by Elisa Anzolin; editing by Valentina Za)
 ((elisa.anzolin@thomsonreuters.com; 0039 0266129692;))