10 Apr 2020


Agreement to purchase 82.83% of Tradeticity d.o.o.

Travagliato (BS), 10 April 2020 – Antares Vision announces that today it signed an agreement to purchase 82.83% of Tradeticity d.o.o..

Founded in Zagreb (Croatia) in 2017 and specialized in the software management of advanced traceability processes (serialisation), Tradeticity d.o.o. has consolidated expertise and market shares in the pharmaceutical industry, operating on both the domestic and international markets. Upon closing the transaction, the company will control 100% of Tradeticity Service d.o.o., dedicated to services for the development, customisation, implementation, assistance and maintenance of Tradeticity software solutions. In 2019 Tradeticity d.o.o. and Tradeticity Service d.o.o. (“Tradeticity Group”) recorded consolidated revenues of over 1.0 million Euro and an EBIT of 320,000 Euro, and currently have a team of 20 people, mainly specialised software development engineers and programmers.

Emidio Zorzella, Chairman and Managing Director: “The acquisition falls within the framework of the strategy to strengthen internal resources for the development of traceability and serialisation software solutions, dedicated to all the different players in the pharmaceutical supply chain (distributors, CMOs, 3PLs, …), up to the regulatory bodies, thereby enhancing data management and interconnection. This transaction allows us to extend our geographical presence to Eastern Europe, increase market penetration through the company’s consolidated customer base and sales force, and boost the development and implementation of tracking solutions.”

Lidija Pozaić, Managing Director of Tradeticity: “We are proud and pleased to see that our vision, our unique mix of experience and skills in the pharmaceutical industry as well as in the development of tracking software, our ongoing commitment to quality, have been recognised by Antares Vision, the market leader. Today we are joining this big family and I am confident that we will offer significant support in implementing the portfolio of Antares Vision software solutions and will contribute to the development of a wide range of serialisation and data integration solutions. Our team has already started getting acquainted with Antares Vision products and platforms and specific training on technology has begun. We are excited about the new opportunities and potential being generated to us, allowing us a rapid and seamless integration, and consequently a quick time to market.”

Miodrag Mirčetić, Chairman of the Supervisory Board of Tradeticity: “A successful strategic partnership requires a compatible business model and a consistent portfolio of products and services. And this is the case of Antares Vision and Tradeticity. I believe the compatibility of our value system that led us to this partnership, comes even first and foremost. Thanks to this agreement we will also be able to provide a wide range of products and solutions of the Antares Vision portfolio to our customers in Eastern Europe. At the same time, I am confident that our development activity, our skills and experience in the market will play a significant role in the Antares Vision portfolio and that, together, we will be able to offer a broader range of solutions, increased flexibility and more value to our customers.”

The acquisition of 82.83% of the share capital of Tradeticity d.o.o is based on an Equity Value of Tradeticity Group of 1.256 million Euro, i.e. on an Enterprise Value of 1.610 million Euro, equal to a 5.0x multiple on EBIT. The t transaction price of 1.040 million Euro will be paid in cash. The acquisition is set to be closed in the coming weeks, following the completion of certain conditions precedent.

The agreement also includes a call option to acquire the remaining 17.17% starting from the approval of the financial statement as of December 31, 2021.

The Managing Director of Tradeticity d.o.o. is Lidija Pozaić, who will continue leading Tradeticity group and will hold a 10.76% share. The remaining 6.41% will be held by financial investor I4 Invention Adria d.o.o.

Antares Vision was assisted through the acquisition by Wolf Theiss (Legal Advisor) and by KP Advisory (Fiscal Due Diligence and Financial Due Diligence).

About Antares Vision

Antares Vision guarantees the protection of products throughout their life cycle by deploying inspection systems for quality control, tracking solutions to fight counterfeiting and control of the supply chain, and smart data management, in all the most demanding industrial sectors, from pharmaceuticals to biomedical devices, from food&beverage to cosmetics and fashion. Antares Vision has a presence in over 60 countries with comprehensive and flexible solutions, and related services: it has 4 offices in Italy (Brescia, Parma, Latina, Piacenza), 10 foreign branches (Germany, France (2), USA (2), Brazil (2), India, Russia and Hong Kong), 2 innovation and research centres in Italy and Ireland and a network of over 30 partners worldwide. With 20 years of experience in vision technologies, Antares Vision supplies 10 of the world’s 20 leading pharmaceutical companies: over 25,000 inspection systems assure the product’s safety and quality each day, while 6,500 inspection tests and over 2,500 serialisation lines installed all over the world guarantee the traceability of over 5 billion products throughout the entire distribution chain. Since April 18, 2019, Antares Vision has been listed on the Italian Stock Exchange, on the AIM Italia/Alternative Investment Market for dynamic and competitive SMEs. This result was achieved by business combination with ALP.I, SPAC promoted by Mediobanca. With the aim to continue supporting the growth and development strategy, in 2019 shareholding agreements were perfected with T2 Software, a Brazilian software company, and Orobix, Italian leader in artificial intelligence services, in addition to the 100% acquisition of FT System, a leader in control and inspection in the beverage sector. In 2019 Emidio Zorzella and Massimo Bonardi were also awarded the Ernst & Young Entrepreneur of the Year Award for Innovation.

For further information: 

Antares Vision PR Specialist
Davide Antonioli, davide.antonioli@antaresvision.com, T. +39 030 7283500

Antares Vision Press Office – Twister Communications Group
Elisa Lissoni, elissoni@twistergroup.it, M. +39 3406486083
Viola Brambilla, vbrmbilla@twistergroup.it, T. + 39 02 438114611