Italy's Tinexta scouting for acquisitions in Italy and abroad, CEO says – Reuters

MILAN, Oct 20 (Reuters) – Italy's Tinexta is looking for potential acquisition targets in Italy and abroad, the digital services group's chief executive said on Wednesday, mentioning in particular Spain, Germany, France and Great Britain.
Tinexta (TNXT.MI), which provides services including electronic invoicing and digital signature, is controlled by some Italian chambers of commerce.
The group also has cyber security, credit information as well as management and advisory services units.
In an interview with Reuters, CEO Pier Andrea Chevallard said the group targeted digital services or advisory companies outside of Italy.
On its home turf, Tinexta is also exploring potential deals in the cyber security sector, after it created a new unit last year following the takeover of three small companies.
"We need to expand our services and we can do this quickly only through acquisitions", Chevallard said.
He expressed confidence the group would reach its 2021 targets which project revenues at 370 million euros and core profit at 96 million euros.
Italy's Recovery and Resilience Plan (PNRR), which allocates 40 billion euros to speed up digital progress in the country, will boost Tinexta's business, Chevallard said, adding that it was too early to quantify the impact on revenues.
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