CRIF finalizes the acquisition of 100% of Innolva S.p.A. for a total equity value of Eur 226.8 million
The synergies resulting from the integration of CRIF and Innolva’s complementary solutions will enable to respond even more effectively to market needs.
Bologna August 3, 2022 - Following the press release on May 30, 2022, CRIF - a global company specializing in credit and business information systems, outsourcing and processing services, as well as advanced digital solutions for business development and open banking – today announces that it has finalized the acquisition of 100% of Innolva S.p.A. and its subsidiaries Innolva Relazioni Investigative S.r.l. and Comas S.r.l., acquiring 75% of the share capital from Tinexta S.p.A. - leader in Digital Trust, Cyber Security and Innovation & Marketing services, listed on Euronext Star Milan (“Tinexta”) – and the remaining 25% from Intesa Sanpaolo S.p.A.
The total equity value of EUR 226.8 million was determined on the basis of an enterprise value of Innolva S.p.A. of EUR 187.5 million, adjusted for the estimated net financial position at closing of EUR 39.3 million.
The acquisition of Innolva is part of a multi-year program of significant investments aimed at the expansion of the CRIF partner ecosystem, to provide financial institutions and businesses with increasingly in-depth information and high-performance and innovative solutions able to create value and growth opportunities for the entire economic system.
“Despite being in a phase of the economic cycle characterized by many uncertainties, CRIF is continuing its path of global development and positioning, with continued growth in business and revenues. This has enabled us to further accelerate our investment strategy, both in terms of acquisitions and in the development of new innovative solutions and advanced technologies,” commented Carlo Gherardi, CRIF CEO. “The business information market will increasingly need to use growth to maintain a sustainable and continuous investment plan over time.”
Specifically, the recognized expertise of CRIF and Innolva and the complementary nature of our solutions will enable us to respond even more effectively to the needs of an increasingly demanding market in terms of value-added information and operational and technological flexibility. With this in mind, new products designed specifically for the Italian market will be developed in the near future, based not only on a unique ecosystem of information in terms of its coverage and updating, but also on the expertise of a team of data scientists in interpreting data to support industry players in their strategic decisions.