DHH: Errera Technology-Icona merger, Icona Technology is listed in Vienna
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DHH, the South Eastern Europe cloud service provider, announces that Errera Technology, the DHH-backed special purpose vehicle (SPV) has completed the aggregation with Icona, a scale-up located in the Milan area and focused on augmented reality for remote assistance.
DHH, the South Eastern Europe cloud service provider, announces that Errera Technology, the DHH-backed special purpose vehicle (SPV) has completed the aggregation with Icona, a scale-up located in the Milan area and focused on augmented reality for remote assistance. Founded in 1996, Icona is an independent verticalized Italian software provider specializing in remote assistance and customer support. It has developed 3 products: Acty, a remote support video tool that uses augmented reality; Support, remote desktop access program; Deskoala, cloud CRM for support teams. The company recorded a turnover of 2.2 million euros in 2020, – € 383 thousand of EBITDA, 142 thousand euros of net profit and 336 thousand euros of net cash – with a 32% CAGR in the last 3 years. Icon sells its products internationally to approximately 2,300 customers in 30 countries and has a business model based on recurring revenue. After the business combination, Errera Technology Srl – which raised 2,225 million euros to support the initiative – was renamed Icona Technology SpA. Icona Technology SpA controls 100% of Icona Srl and Icona’s entrepreneurs have become significant shareholders of Icona. Technology, with approximately 70% of the company. Icona Technology will go public on the Vienna Stock Exchange (Direct Market) on November 24, 2021 (ticker: CARE) with a price of 4.1 euro per share and a market capitalization of approximately 28 million euro. DHH will hold 300,000 shares at the listing date (equivalent to 4.35% of the share capital), equal to € 1.23 million, excluding an initial investment of € 500,000 (ROI at listing: + 145%). DHH an option on another 40,000 shares (ref. Bonus share) if he keeps the investment for three years after the listing. This project is DHH’s first corporate venture capital experiment.
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