| In the press release of June 28th, 2023, Doxee SpA – a multinational high-tech leader in the offer of products in the field of CCM (Customer Communications Management), Digital Customer Experience and Paperless, announces that it has obtained the concessions provided for in the Call for research and experimental development projects activated by the Emilia Romagna region. The amount of the benefit, paid to the Company in the form of a non-repayable contribution, is € 0.48 million, against a total expense for Doxee of € 1.01 million. The project to which the funding refers is part of a broader plan to develop the data economy in companies and will also contribute to the enhancement of the entire technological stack for video customization of the Doxee Group. In this way, the Company will be able to offer new tools to produce personalized and real-time videos to the markets of creative agencies, martech companies, digital advisors, and publishers. To benefit from these improvements will be, first of all, the platform Babelee (owned by the homonymous company, Babelee Srl, belonging to the Doxee Group), designed to enable communication agencies and publishers to create video content that is based on the behaviours and interests of users independently, without therefore contacting a specialist for the realization of the same. The set-out investment plan, partly supported by the regional contribution, will be aimed at continuing the technological development of the platform, with the aim of streamlining the video production process and improving the functionality of the platform. In doing so, the Company offers a solution to satisfy use cases in markets characterized by a lower relevance of transactional communication (for example retail, high-end fashion and agencies serving the third sector). Taking into account the press release, we confirm our recommendation: the target price € 13.00, BUY rating and risk MEDIUM. |