SOLUTIONS 30 : STRATEGIC ACQUISITION FOR MOBILE NETWORKS IN ITALY
Solutions 30 SE announces today the acquisition of a 60% stake in Algor SRL, a specialist in technical field services dedicated to mobile networks in Italy.
Created in 2003 by a team of telecommunications experts, Algor intervenes at different stages of mobile network deployment, from design to installation and site upgrades. Over the years, the company has successfully helped its customers adapt to rapidly changing technology, securing the loyalty of a portfolio of prestigious clients, including TIM, Vodafone, Ericsson and Cellnex.
“The alliance between Algor and Solutions 30 will boost our growth strategy, giving us the resources we need to reach our potential in a booming sector,” says Alessio Ramini, CEO of Algor SRL.
This strategic acquisition is part of Solutions 30’s ambitious European growth plan. After Provisiona in Spain, Algor provides a new source of growth for the group in next generation mobile networks, while the telecommunications sector as a whole is returning to more favorable dynamics in Italy.
Ruggero Fortis, General Manager of Solutions 30 Italy says, “I am very pleased to welcome the Algor teams at this key moment in our expansion in Italy. This acquisition gives us additional skills and assets to strengthen our position in the telecommunications sector and opens up new opportunities in the mobile networks market.”
Algor is located in Northern Italy and posted revenue of €3.9 million in 2019, with a level of profitability close to the group’s standards. The company will be fully consolidated in the group’s accounts as of November 1, 2020.
About Solutions 30 SE
The Solutions 30 group is the European leader in solutions for new technologies. Its mission is to make the technological developments that are transforming our daily lives accessible to everyone, individuals and businesses alike. Yesterday, it was computers and the Internet. Today, it’s digital technology. Tomorrow, it will be technologies that make the world even more interconnected in real time. With more than 30 million call-outs carried out since it was founded and a network of more than 10,000 local technicians, Solutions 30 currently covers all of France, Italy, Germany, the Netherlands, Belgium, Luxembourg, the Iberian Peninsula, and Poland. The share capital of Solutions 30 SE consists of 107,127,984 shares, equal to the number of theoretical votes that can be exercised.
Solutions 30 SE is listed on the Euronext Paris exchange (ISIN FR0013379484- code S30). Indexes: MSCI Europe Small Cap | Tech40 | CAC PME | SBF120 | CAC Mid 60. Visit our website for more information:
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Analysts/investors: Nathalie Boumendil | Tel: +33 (0)6 85 82 41 95 |
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