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Equity Bottom-Up

<p>TXT e-solutions has expanded its Italian IT services business with the acquisition of HSPI for €11.6m in cash and equity. The deal adds public sector, energy and utilities to TXT’s existing fintech and industrial verticals and broadens the services offered to management consulting. On a pro forma basis, we estimate the deal adds c 18% to FY20 revenue and c 22% to FY20 EBITDA. </p>

TXT e-solutions has expanded its Italian IT services business with the acquisition of HSPI for €11.6m in cash and equity. The deal adds public sector, energy and utilities to TXT’s existing fintech and industrial verticals and broadens the services offered to management consulting. On a pro forma basis, we estimate the deal adds c 18% to FY20 revenue and c 22% to FY20 EBITDA. 

TXT e-solutions - Expanding the service offering

TXT e-solutions SpA

TXT e-solutions - Expanding the service offering