Lutech acquires ICTeam
A new step for Lutech Group that they successfully completed the acquisition of the majority of the share capital of CST Tech Srl, a company operating in services and IT solutions for the financial services market since 1990. The group thus increases the its staff, made up of over 1600 people working on 12 companies.
Italian leader in solutions for fulfilment and regulatory requirements, CST Tech specialises in the financial, banking and insurance sectors.
“CST enriches the group’s offer in the Financial Services area”, says Tullio Pirovano, CEO Lutech Group, which already has a wide range of products and expertise to effectively face the challenge of digitising banking, financial and insurance systems.
CST contributes to this objective thanks to the considerable specialisation of its products in relation to regulatory and tax compliance. A strategic step that brings in our group a wealth of knowledge and skills represented by CST professionals to whom I welcome in the name of the whole Lutech group.”
Interview with Marco Abramo Lanza at Studio Legale e Tributario Biscozzi Nobili
Please tell me about your involvement in the deal?
We, as Biscozzi Nobili were involved with the sellers in the first phase of negotiation with the Buyer’s representatives to establish terms and conditions of the transaction. In addition, we took care of the all the process of vendors, accounting and tax due diligence.
Finally, since the buyer requested the vendor to include some preliminary reorganisation (carve out and amalgamation), we had advised the Company to this extent.
Why is this a good deal for all involved?
It is a good deal businesswise, since it enforces a strong integration between a luxury boutique in the IT world (like ICTEAM), with an innovative company like LUTECH supported by international investors.
What challenges arose for you and your team? How did you come up with new solutions to work around them?
The challenges are connected with the direct involvement of each seller as requested by LUTECH, thus the transaction involved more sellers than vendors. Solutions arose, as always, by mixing refined technique via the professionals who remain humble and carefully listen to their client’s needs.
