Expert System, a company listed on the AIM Italia market and active in the software market, yesterday signed an agreement for the acquisition of 100% of Temis SA, a French company that deals with solutions for text analytics and which also has offices in Germany , UK, US and Canada.
The value of the transaction is equal to 12 million euros. The equity value of the French company (estimated in millions and possibly subject to adjustment) will be paid to the outgoing shareholders as a price in the following ways: partly in cash, for a value of around 4 million, of which 3 million at the closing and 1 million over the following 3 years; around 7 million, on the other hand, will come through the creation of a credit in favor of the sellers of Temis which will be immediately used by them to subscribe and free up, by means of compensation, newly issued ordinary shares of Expert System.
The approval of the related share capital increase reserved for Temis shareholders was proposed by the BoD to the Expert System Shareholders' Meeting which will be convened and will be held by 30 June 2015. By virtue of the increase, the current Temis shareholders will hold a total of approximately 12,4% of Expert System's share capital, of which approximately 5,5% will be in the portfolio of Luxid SA (current reference shareholder of Temis). The current Temis shareholders have agreed to sign a lock-up agreement regarding 90% of the Expert System shares they individually hold for a period of between 90 and 180 days.
“With the entry of Temis into Expert System, a world leader is born with a focus on the development of semantic technologies, based on artificial intelligence algorithms, with an overall production value that will well exceed 20 million euros, substantially doubling the size of the company compared to the moment of the listing, which took place only 15 months ago”, commented Stefano Spaggiari, managing director of Expert System.
“Temis and Expert System are perfectly complementary from a technological, geographical and business point of view – said Eric Brégand, managing director of TEMIS -. By combining our strengths, we will bring to market an even more extensive platform to acquire knowledge from big data and strengthen the offer of innovative solutions to make the most of unstructured information”.
