Almawave S.p.A., an Italian company listed on the Euronext Growth Milan (Ticker: AIW) and part of AlmavivA Group, an Artificial Intelligence (AI), natural language processing and Big Data services leader, has signed a binding agreement for the full acquisition of The Data Appeal Company S.p.A., with registered office in Florence and a developer of vertical AI analytics solutions and the tourism, fintech and location intelligence sector leader. The transaction overall is worth Euro 16.5 million,
Valeria Sandei, Chief Executive Officer of Almawave, stated: "I am thrilled by this agreement which highlights our capacity to attract talent and which will accelerate our growth and Almawave’s value creation. The Data Appeal Company is a perfect fit to further pursue and strengthen our strategic objectives: we in fact share the same vision for AI, centred on the idea of ease-of-use, vertical solutions and their scalability globally."
Mirko Lalli, founder and CEO of The Data Appeal, stated: "The Data Appeal’s acquisition by Almawave clearly recognises the work carried out, the value created and the trajectory of the company for the coming years. I am greatly excited to begin this new development phase which will allow us to grow faster and strengthen our position on the international markets. We hold firm to our mission of democratising and simplifying data-driven processes through technology and artificial intelligence and to join forces with one of this sector’s leading companies."