BREAKING NEWS – 27.06.2023

In the press release of June 23, 2023, Deodato.Gallery SpA, a company operating in the contemporary art market, with a main focus on the street art and pop art segment, headed by a group of companies that manage several art galleries, announced that it has acquired from the company and related party Art Backers Srl, a company active in the art and innovation market, the intellectual property rights of the brands ARTUU, PROFESSIONE ARTE.IT, ART BACKERS, THE AB FACTORY and THE AB GALLERY, for an amount of € 0.09 million.  In 2020 Deodato.Gallery SpA started investing in the startup Art Backers Srl, operating in the art, cultural marketing and blockchain market. To date, the Company owns 3.63% of the share capital of Art Backers Srl. Through this highly strategic investment in terms of marketing & digital and physical assets, the Group will be involved in a plan to launch and further develop the acquired brands. Deodato.Gallery thus consolidates its activity in the publwishing and training sector linked to the art world, as well as its presence on the Sardinian territory.  The purchase of each of the brands in question was carried out with the aim of implementing specific growth strategies, in addition to achieving a series of significant synergies.  In particular: ARTUU.IT is an online art magazine with a reach of more than 47,000 followers on social media and more than 1.00 million visitors to date. Deodato.Gallery acquires the brand with the intention of relaunching its activity, constituting a new editorial office and proposing strategic content that is able to attract an increasingly wide audience; PROFESSIONE ARTE.IT is the first community of training, updating and orientation towards the professions related to the world of art. From this perspective, the goal of Deodato.Gallery turns out to be strengthening its presence, already initiated, in the past, through the master’s program created in collaboration with Academique.com, in the field of training and education; THE AB FACTORY and THE AB GALLERY are jewellery and art corner brands whose presence on the Sardinian territory, especially in Cagliari, is extremely deep-rooted and consolidated. This link with the territory will allow the Company to strengthen its presence in the region, favouring, in particular, the consolidation of the Company’s presence in particularly strategic areas such as the Chia and Porto Cervo offices; ART BACKERS.com – Fine Art Producer, is the international art publisher that promotes and sells works of art and limited editions (the so-called “artist’s manifolds”), made through traditional techniques, such as silkscreens, engravings, and lithographs, or more innovative, made on fine papers of the highest museum quality and strictly numbered and signed by hand by the artist. All works also have a certificate of authenticity. Since the acquisition of the Deodato.Gallery brand has increased its know-how in supporting its artists in producing accessible works of art for its audience of collectors. The strategic purchase of these brands strengthens our positive view of security. For this reason, we confirm our estimates: target price € 1,70, rating BUY, and risk MEDIUM.

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