Italian broadliner Esprinet has signed a binding agreement for the acquisition of 100% of the share capital of VAD Bludis Srl.
Bludis Sr is the company established under the Italian law where in July 2022 the company SPIN Srl transferred the branch that operates in the software solutions distribution in the area of Communication, Cybersecurity, IT Management, and that works mainly with innovative and emerging Vendors.
In 2021 fiscal year the branch totaled revenues of €12.9m with an EBITDA of €2.2m. The total value of the acquisition of the share capital of Bludis is €8.7m, of which €7m will be paid in cash and based on a provisional balance sheet with a cash neutral NFP. The final price will be fixed by price adjustment mechanisms resulting from the calculation of the actual net equity at the date of the transaction and by the performance of the receivables collection. The remaining balance will be paid within 180 days from the date of the acquisition. The transaction is to be framed in a broader business strategy in line with the strategic plan 2022-2024 and contributes to focus on increasing profitability also through the growth of value-added distribution in the Solutions segment.
Working in high-value market niches, Bludis will act as incubator of new emerging software vendors and will influence their growth exploiting the vertical know-how of its 39 staff members as well as using all assets that Esprinet will provide.
Bludis will be operated as a separated legal entity within the Esprinet Group. In order to guarantee the best operating continuity, the headquarter will be maintained in Rome and the governance will confirm Giuseppe Di Girolamo, currently CEO, with the same role in the board and with commercial responsibility.
“The acquisition of Bludis is perfectly in line with the strategic guidelines of our Group, presented in November 2021, further strengthening the Advance Solutions segment, that is managed under the brand V-Valley. This transaction has a particular meaning to us, not only because it boosts our presence in the value-added software solutions segment, but also because it allows us to have in Bludis a center of excellence that can offer to the emerging software manufacturers a dedicated sales network and the right level of attention and focus needed to enable their growth”, said Alessandro Cattani, CEO of Esprinet Group.
Giuseppe Di Girolamo, CEO of Bludis, commented: "we are thrilled to become part of such an important Group that with its assets will give Bludis greater strength and commercial propulsion."
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