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ITALY – Intesa Sanpaolo backs outsourcing firm

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Imi Investimenti, part of the Intesa Sanpaolo Group, has acquired a 14% stake in outsourcing company Data Service through portfolio company Praxis Calcolo, one of Imi’s portfolio companies.

The transaction will serve as a precursor to the merger of the two IT companies via a Data Service acquisition of 100% of Praxis Calcolo in a deal that would be valued at around EUR 13m. Data Service will receive a EUR 7.7m capital increase, of which EUR 5m will be subscribed by Imi and the remaining by Praxis other shareholder’s.
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