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GALILEO S.A., IMPORTANT ACQUISITION IN SPAIN

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Maggioli Group increased its capital stock in Galileo S.A., based in Canary Islands, specialized in the management of the land register of the Local Public Authorities, which led to the control of the company.

The acquired company will join the foreign branches in Belgium (Brussels) and Albania (Tirana).

Galileo has some interesting projects in Latin America, especially in Colombia, which will materialize as early as 2017anticipates Paolo Maggioli, CEO of Maggioli Group; this is actually our first major operation in Europe.

The growth opportunities through M&A are becoming a reality in Maggioli. Two weeks ago, the company launched a binding offer to acquire another Spanish company, based in Barcelona; and sets his sights on a third company, based in Madrid, to become the majority shareholder: both companies offer IT services for municipalities and the market of the Iberian public administration is considered very promising.

In Italy we are looking around – he continues – we have 2-3 ongoing negotiations always in the IT. We want to grow while maintaining our leadership position in the PA market, also taking advantage of the opportunities that the market will give.

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