Almawave announced that it has signed a binding agreement for the acquisition of 100% of the share capital of The Data Appeal Company. The strongly growing company is active in the development of vertical AI analytics solutions and is a leader in the tourism, fintech and location intelligence sectors and the operation has an overall value of 16.5 million euros, the Italian company said. listed on the Euronext Growth Milan market and part of the Almaviva Group. Almawave is engaged in the Artificial Intelligence sector, in the analysis of natural language and in Big Data services, The Data Appeal Company is a company based in Florence active in the development of vertical Ai analytics solutions, in the tourism, fintech and location sectors. intelligence. The transaction provides for the cash purchase of 24.24% of the capital of The Data Appeal Company for 4 million euros and the transfer to Almawave of the equity investment representing 75.76% of the capital of The Data Appeal Company (for a valuation equal to 12.5 million euros) against a capital increase by Almawave which will be reserved for the shareholders of The Data Appeal Company.
The Almawave shares subject to the capital increase will have an issue price equal to the higher of the average listing value per share in the 30 days prior to the exercise of the delegation by the Board of Directors to service the capital increase and € 6. . The Data Appeal Company generated revenues of approximately € 1.5 million in 2020 and a growth rate of over 40% is estimated in 2021. The company also sees Indaco Venture Partners Sgr, Airbridge Investments Bv and H-Farm among the selling partners and is a high growth potential scale up that supplies to over 140 clients worldwide – including Best Western, Jll, Intesa San Paolo, Carto, Coca-Cola and Campari as well as numerous Public Administrations – tools and products based on Artificial Intelligence, Big Data and alternative data, with the aim of facilitating decision-making processes and making it possible to apply the key information that derive from the data. The company counts on a team of 30 professionals, with consolidated Ai skills and vertical industry knowledge that allow the enhancement of use cases.
The Data Appeal Company has garnered numerous accolades including the most recent Travelport Elite and Amazon Web Services 2021. “I am thrilled with this agreement which testifies to the attractiveness of talent and brings further leverage to accelerate the growth and creation of Almawave value. The Data Appeal Company has a perfect fit for pursuing and strengthening our strategic objectives “commented Almawave CEO Valeria Sandei. For Mirko Lalli, founder and CEO of The Data Appeal, “the acquisition of The Data Appeal by Almawave is a huge recognition of the work done, the value created and the path marked out for the years to come”. “It is with great satisfaction and enthusiasm – he adds – that we are starting this new phase of development that will allow us to grow faster and also strengthen on international markets”.