Adesso is acquiring a 100% stake in Italian company WebScience, based in Milan, Italy. The acquisition of the rapidly growing, profitable software company reinforces Adesso’s presence in Italy, which it only established in autumn 2021 by opening a Milan office. With around 100 employees, WebScience generates annual sales of just under EUR 10 million at an operating margin of roughly 15 %. The valuation stands at EUR 11 million but may increase by up to EUR 4 million over the next two years depending on the company’s earnings performance.
Software developer WebScience S.R.L. was formed in 2000 and has spent more than two decades specialising in agility, application modernisation, cloud migration, cloud-native development and low-code approaches. It operates three sites: in Milan, Lecce and Sofia. The growth-centric firm fits perfectly with the Adesso core brand in terms of its management, strategic orientation and cultural identity. It therefore meets the key requirements for the company’s M&A and the internationalisation strategy. Like Adesso, WebScience is focused on optimising core business processes for companies in a variety of sectors.
WebScience clients, which include the likes of Benetton, Sisal and Elior, will now have access to the entire portfolio of the Adesso Group.