Rome, 14th November 2016 – Finsis S.p.A. has today finalized the repurchase of Simest S.p.A.’s 24.1% stake of shares in IDS Ingegneria Dei Sistemi S.p.A.
Banca IMI and Orrick have acted as Finsis’ financial and legal advisors respectively during the entire buying process.
The agreement reached between Finsis and Simest, which sees the immediate 14.1% repurchase of IDS capital and the transfer of the remaining 10% during 2018, allows the release of resources that Simest may reinvest in the process of further IDS internationalization.
IDS Ingegneria Dei Sistemi is an independent engineering company providing research, innovation and products in the unmanned, electromagnetic and air navigation sectors, for civil and defense applications. In addition, it specializes in providing consulting services for high-tech engineering projects, and in developing integrated software solutions and measurement systems. IDS, established in 1980 in Pisa where it still has its headquarters, has an international presence with subsidiaries in Australia, United Kingdom, Canada, Brazil and South Korea. Nowadays, IDS is an Italian company at the forefront of the sectors where it works, and it is ready to proceed with further potential development in both the Far East and North America.
Simest joined as a minority holder of IDS capital during 2013 to support the international expansion of the company and some very innovative projects, relative for example to both UAS (unmanned aerial systems) and protection systems for convoys in critical areas.
The stock repurchase agreement has been possible thanks also to the support from the Banca IMI M&A team and from the Orrick law firm, which have been able to align the new demands of IDS with those of Simest.