Softeco Sismat sells 75% stake to AVM Associati for undisclosed amount (Mergermarket)
Softeco Sismat, the privately-held Italian IT company, has sold a 75% stake to private equity group AVM Associati, Il Sole 24 Ore reported.
The report cited Giovanna Dossena, the chairman of AVM, who did not reveal financial details. The report added that Softeco has turnover of EUR 20m and has operations in Genoa, Milan and Naples. It focuses on energy trading markets and intelligent transport systems, the item added. AVM had financing from Unicredit Corporate Bank and is looking to keep its investment for the next four years, the item concluded.
Source: 18/12/2009, Mergemarket.com
