Digital Magics sold 9% of Talent Garden's capital to Heroes, for a value of 3,6 million euros.
Following the sale, the company led by Marco Gay holds 21.794 Talent Garden shares, equal to approximately 10% of the capital. Heroes, controlling shareholder of Talent Garden, controlled by the management of the same company including the co-founder and Davide Dattoli.
The sale price, equal to 3,6 million, allows Digital Magics to realize a capital gain of 3,2 million euros (equal to more than 9 times the cost of the share capital sold), with an IRR on the operation of the 80 percent.
“The transaction, which allows Talent Garden's management to strengthen its share, represents a step of strategic value for the Digital Magics business model. – comments Gabriele Ronchini, Founder and CEO of Digital Magics – Moreover, with a stake of around 10%, Digital Magics remains among the main shareholders of Talent Garden and confirms the fundamental role that the subsidiary, together with Tamburi Investment Partners SpA ( in turn a member of Digital Magics and Talent Garden), has in the value chain created by Digital Magics in favor of the development of the ecosystem of startups and innovation in Italy”.
