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5 August 2010
Reply S.p.A. - listed on the STAR segment of the Italian stock exchange [REY IM] - has acquired 75.016% of the share capital of Riverland Solutions GmbH, a German company specializing in consulting and systems integration on Oracle Applications (Oracle CRM, Master Data Management, Fusion Middleware, Business Intelligence and Fusion Applications).
Munich-based Riverland recorded a turnover of 12.4 million Euros in 2009 and forecasts revenues of approximately 14 million for the current year, with an EBIT of 9%.
Reply’s acquisition of 75.016% of the company involves an investment of 4.5 million Euros, paid up entirely in cash, based on a largely breakeven net financial position.
Riverland counts some of the leading German companies in the Transportation, Life Science, Retail and Automotive industries among its clients.
Reply already has a presence in Germany with syskoplan AG, listed in Frankfurt, and other business units operating in Telecoms and Media, with a total turnover of approximately 70 million Euros.
The acquisition of Riverland fits into Reply’s development strategy of creating a European network of highly specialized boutique companies.
"Riverland," said Mario Rizzante, President of Reply, "whose team has an outstanding reputation for excellence in developed solutions, will become a component of the Reply Oracle Technologies offering, an area where Reply today is regarded as one of the leading players in Europe".
"In particular," continued Mario Rizzante, "the acquisition of Riverland will enable us to bring to the German market our comprehensive Oracle offering, providing coverage of the entire technology with application suites together with leading vertical solutions for different markets".
"Becoming part of the Reply Group," said Ann Dempsey, Managing Director of Riverland, "was just what Riverland needed to accelerate its development plans. From today, Riverland can count on greater expertise in consulting, business processes and technological capabilities thanks to the strategic, operational and financial support of one of the leading Oracle system integrators in Europe".
This press release is a translation, the Italian version will prevail.