On January 14th 2020, the shareholders of Partners Associates S.p.A., the parent company of PA GROUP, in execution of the preliminary contract signed on October 22nd 2019, to which reference is made for further details, have signed the definitive contract for the sale of the shares representing 100% of the share capital to Retelit Digital Services S.p.A.
“We are delighted to launch this project, which today sees the creation of a unique entity on the Italian ICT market, bringing on stream integrated and tailor-made solutions to meet the needs of Italian businesses on entirely Group managed platforms.” – says Ennio Baracetti, President of PA Group – “In recent months – since the signing of the binding agreement – we have already begun to take the first steps towards integration, meeting with the representatives of all company divisions and have quickly understood the close fit of the working groups and the expectations for the success of the collaboration in practice.”
Dario Pardi, President of Retelit, commented: “We are greatly satisfied to have concluded this transaction that projects Retelit into the future, making it a Group capable of playing a leading role in Italy and beyond, with a complete range of solutions both for the infrastructure and digital services and ICT sectors. I would like to thank all those who helped to successfully conclude this transaction, from the management to the operating personnel and wish also to underline the close collaboration between the employees of Retelit and PA Group, which will be key to this merger’s success “.
The transaction, as already communicated on October 22nd 2019, sees the creation of a leading Italian ICT integrated services operator providing both infrastructure and value-added services (approximately 53% infrastructure and 47% of services), and counting on the offerings and skills of two perfectly complementary companies. The uniqueness of the new entity lies in it being able to natively cover, i.e. on its own platform, the entire ICT services value chain.
The solutions that the new entity will be able to offer shall cut across many sectors, as is the case with the offer, among others, of Cybersecurity, Multicloud, Big Data, Artificial Intelligence, CRM, ERP and MES to Digital Marketing, System Integration and Data Center, but also vertical propositions for individual markets from Healthcare, Automotive and Textile/Apparel to Retail, Finance and Public Sector Services.