BREAKING NEWS

In the press release dated June 30th, 2026, iVision Tech, an Innovative SME active in the design and production of acetate and combined eyewear, owner of the historic French premium brand Henry Jullien and increasingly focused on the integration of eyewear manufacturing, electronics and optical components, announced that it had signed and completed the acquisition of 100.0% of the share capital of Sharbie Srl from Estrima SpA, the parent company of the homonymous Group listed on Euronext Growth Milan and best known for producing the Birò, the world’s smallest four-wheel electric vehicle. The transaction envisages a total consideration of €0.14 million, to be paid by June 30th, 2028, in one or more instalments, in accordance with the terms set out in the share purchase agreement. Sharbie is a Rome-based B2B technology company operating as a software house and provider of vertical IT services for the sustainable mobility sector, specializing in the development and management of digital solutions and operational services for companies and professional networks. In particular, the company has developed expertise in control software, geolocation algorithms and advanced digital solutions for corporate fleet management and urban sharing services, as well as in related activities such as technical fleet maintenance support and industrial help desk services. As of December 31, 2025, the company employed approximately 10 professionals and reported revenues of approximately €1.50 million, EBITDA of €0.09 million, net profit of approximately €0.07 million and a net financial position with no financial debt. Following the acquisition of D.E.C. Elettronica, which enabled the Group to internalize key competencies in design authority and the production of customized electronic boards and devices, the acquisition of Sharbie adds a complementary software and operational component, allowing iVision Tech to combine smart eyewear hardware with dedicated digital platforms and software solutions. This integration is intended to broaden the range of professional applications for smart glasses and transform the device from a technological product into a vertical B2B solution tailored to customers’ specific operational needs, facilitating its integration into corporate workflows. The acquisition of Sharbie also comes during a first half of 2026 in which iVision Tech achieved several milestones across its main growth drivers, confirming the progressive expansion of its business beyond traditional eyewear into smart glasses, assistive technologies and specialized applications. In the smart eyewear segment, after selling more than 5,000 HJ Tech smart glasses during the first months of the year, the brand participated from May 12th to May 15th, 2026, in the “Italy on Madison” initiative organized by the Italian Trade Agency (ICE) in New York to promote Made in Italy excellence. HJ Tech was selected among the 13 Italian eyewear brands showcased in the dedicated exhibition area organized with the support of ANFAO. The event provided the Group with valuable exposure in the strategically important U.S. market, allowing it to present a premium smart eyewear proposition combining technology, aesthetics, comfort and Italian manufacturing quality, consistent with its objective of positioning HJ Tech as an intelligent everyday eyewear solution seamlessly integrated into users’ daily lives while preserving the distinctive characteristics of Made in Italy. At the same time, iSee achieved further progress in the international protection and enhancement of its technology. Following the Italian patent obtained in 2025, iVision Tech announced the acceptance of its U.S. patent application, which will be published on August 6, 2026 under application No. 19/151,414 before entering the substantive examination phase at the United States Patent and Trademark Office (USPTO). This milestone, achieved within the broader process of obtaining patent protection in the United States, further strengthens the project’s positioning in one of the world’s most important markets for smart eyewear and assistive technologies. Developed by a team led by iVision Tech in collaboration with TDK Invensense and USound, and with the contribution of visually impaired users, iSee is designed to support the mobility of blind and visually impaired individuals through sensors and audio technologies capable of detecting obstacles up to four meters away, thereby improving autonomy and safety during movement. In the premium segment, Henry Jullien surpassed 1,000 online sales of its Pacific S 01 model by early June, following the significant international exposure generated after French President Emmanuel Macron wore the glasses during the World Economic Forum in Davos. This achievement highlights the Group’s ability to convert international media visibility into tangible commercial demand, with a positive impact on profitability thanks to the premium positioning of the model and its direct-to-consumer e-commerce distribution. Further enhancing the brand’s visibility, Macron wore the same model again on June 29th, 2026, during his meeting at the Élysée Palace with Sultan Haitham bin Tariq of Oman, further strengthening the international recognition of eyewear produced by Maison Henry Jullien, which currently enjoys solid commercial and operational momentum. The synergy between the historic production site in Lons-le-Saunier, which preserves the brand’s heritage and its traditional Doublé Or craftsmanship, and the manufacturing facility in Martignacco is enabling the Group to progressively increase production volumes while maintaining premium quality standards. Nevertheless, delivery schedules extending into July confirm that market demand continues to exceed immediately available supply, indicating sustained international interest in the product. Completing the picture, iVision Tech developed a new eyewear collection for the Italian Army through Difesa Servizi SpA, the in-house company of the Italian Ministry of Defence responsible for enhancing the value of Armed Forces assets. The collection was presented on July 1, 2026, in Rome during the “Insieme andiamo a 1000” event, organized in connection with the Italian Army’s participation in the Mille Miglia and chaired by the Chief of Staff of the Italian Army, General Carmine Masiello. The project includes the first acetate eyewear model carrying the “Esercito” brand, available in three colour variants, including the iconic Army green, and further extends the Group’s know-how into an institutional partnership where design, performance and product development play a central role. Overall, the acquisition of Sharbie and the progress achieved across the Group’s various eyewear initiatives confirm the validity of iVision Tech’s transformation strategy towards a more integrated business model, where its traditional manufacturing expertise is progressively complemented by electronic, optical, digital and software capabilities. This approach is aimed at increasing the technological content of the Group’s offering while strengthening its positioning in the smart glasses market and in specialized professional applications. Based on the information currently available, and pending further evidence regarding the industrial and commercial integration of Sharbie as well as the evolution of the Group’s various product lines, we leave our estimates unchanged and confirm our BUY recommendation with a Target Price of €3.00 and Medium Risk rating.

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