Circle has bought the genoese computer service company Adele Project



Circle, company specialized in the analysis and the development of solutions of automation and digitalisation of the fields harbour and the intermodal logistics, has acquired the entire share capital of the genoese Adele Srl Project, society constituted in the 2003 that is specialized in the development of vertical systems software for the supply chain, activity segments - it has specified the Milanese company - that they are complementary to those of Circle Group.

Circle has announced that the purchase price is pairs to 535 thousand euros besides the case to the date on July 30, 2019 that is pairs to 1,365 million euros, and will be corresponded in three tranche for case: for 1,6 million contextually to the closing of the operation happened yesterday, for 0,2 million on September 30, 2019 and 0,1 million after the approval of the budget on December 31, 2019. Moreover a mechanism of adjustment of the purchase price on the base of the differential between the EBITDA recorded on December 31, 2018, that it has turned out pairs to about 259 thousand euros, and that turning out from the approval of the budget is previewed on December 31, 2021.

The agreement previews the definition of a board of directors of Adele Project to three members: he will remain Riccardo Langella, today associate and only councilman of Adele Project, that it will continue to cure the technical direction and the customers, and will enter for Circle Alexio Peak, councilman and in charge of the Division Connecting EU of Circle, and Luca Abatello, president and managing director of Circle.

In the 2018 Adele Project it has recorded a value of the production pairs to about 2,2 million euros, in increase of +39.0% regarding the exercise anniversary precedence and a profit clearly pairs to about 107 thousand euros.

Luca Abatello, has emphasized that the acquisition will go to complete the range of vertical solutions of the company in the supply chain, covering the segments freight forworder and logistics. "Such producing, integrated with our innovative solutions of Tracking, Internet of Things and intermodal transport - it has explained - allow an enormous recovery of efficiency, a reduction of costs and an increment of performance as demanded from the great importers and international exporter in optical of Supply Chain Visibility. The operation, moreover, is concluded on the base of conditions and excellent economic-financial terms thanks to the synergies and to the demonstration of the ability to recognized creation of value from the target society".