BREAKING NEWS – 02.08.2023

In a press release of July 27th, 2023, SolidWorld Group, a company at the head of the Group leader in digital technologies, 3D printing as well as additive manufacturing, announced that it has signed a framework agreement with B.F. Forniture Ufficio Srl, aimed at acquiring the business unit active in the resale of SolidWorks 3D CAD, a software developed by Dassault Systèmes and of which Solid World is also an authorized reseller nationwide. The value of the operation amounts to about € 2.60 million and the closing is expected within the first week of August 2023. The operation will take place through the transfer, by B.F. Forniture Ufficio Srl, of the business unit into a NewCo, a wholly owned subsidiary of SoldWorld Group. Therein will flow a relevant package of existing contracts, as well as the equipment and warehouse related to service activities, the 12 employees and the rental contracts of the physical spaces, included with the aim of maintaining the operative site at the Gallarate (VA) headquarters, pursuing the promotion of employment growth. The counterparty, B.F. Forniture Ufficio Srl, is a company operating in the field of IT consulting and digital transformation services, design and management of software and ICT tools, based in Gallarate (VA). The purpose of the operation is to create a vertically integrated entity for the design, development and distribution of SolidWorks 3D CAD software in Italy. Such an entity should be able to ensure a timely response to customer needs, as well as a high level of expertise and know-how in supporting optimization and innovation of design and product development processes. Pursuant to the agreement, SolidWorld takes over the customer portfolio of B.F. Forniture Ufficio Srl, with a particular focus on Northern Italy, thus enriching its expertise. The operation represents a high strategic value, as it will allow SolidWorld to positively impact the marginality, in terms of EBITDA, and to generate profitability at the same time.  While waiting to evaluate the closing of the operation, we confirm our recommendation: target price € 9.15, rating BUY and risk MEDIUM.

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