Wise's Innovery bolts on Obiectivo

Wise acquired a 69% stake in Innovery in June 2019. Gianvittorio Abate, founder and CEO of Innovery, retained the remaining 31% stake in the company and continued to lead the business alongside the rest of the management team.

Innovery is headquartered in Rome with additional offices located across Italy, Spain and Mexico. The company employs 330 staff and generates EBITDA of around €6m from revenues of €36m.

The GP backed the company via its €215m Wisequity IV fund, which is currently 92% deployed across eight investments: Corob, Imprima, Tapì, Tatuus Racing, Aleph, Trime, Innovery and Waycap.

Company
Obiectivo provides cybersecurity, fraud management and network security to companies operating in the financial services, telecommunications, public administration, gaming and utilities sectors. The business is headquartered in Rome with an additional office in Milan.

People
Wise Equity - Paolo Gambarini (founding partner); Marco Mancuso (investment manager).
Innovery - Gianvittorio Abate (founder, CEO).
Obiectivo - Pamela Pace (CEO).

Advisers
Acquirer - Spada Partners (financial due diligence); Simmons & Simmons (legal).

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