EUGENE, OR, USA — March 9, 2021 — Datalogic S.p.A. (Borsa Italiana S.p.A.: DAL), a company listed on the STAR segment of the Italian Stock Exchange organized and managed by Borsa Italiana S.p.A. ("Datalogic") and global leader in the automatic data capture and process automation markets, announces that, today, its subsidiary Datalogic S.r.l. ("Datalogic Srl"), following Datalogic's prior approval, has committed to acquire the entire (1) share capital of M.D. Micro Detectors S.p.A. ("M.D. Micro Detectors") from Finmasi di Marcello Masi & C. S.A.p.A., for a consideration equal to approximately Euro 37 million. M.D. Microdetectors is a company based in Modena and operating in the design, production and sale of industrial sensors.
The acquisition will allow the Group Datalogic to strengthen its Italian and global presence in the industrial automation market through the addition of inductive and ultrasonic sensors to its portfolio of products, with applications in a variety of industrial sectors including electronics, pharmaceuticals, logistics and automotive.
The highly innovative content of M.D. Micro Detectors combined with Datalogic's product portfolio and distribution network represents a growth project that aims at creating the main hub in Italy for sensors in the industrial automation sector.
Dr. Valentina Volta, Chief Executive Officer of Datalogic, declared "We are extremely pleased with the completion of this transaction. The Datalogic Group continues to focus on the Manufacturing sector which is characterized by high margins and excellent growth prospects in the high value-added segments of the so-called Industry 4.0. The acquisition of an outstanding business as M.D., which has been operating for decades in the design and manufacturing of a wide range of industrial sensors, fits perfectly with the strategic path we have started and allows us to further increase our presence in the industrial sensors market worth over $5 billion, by exploiting the numerous synergies deriving from the combination with our range of sensors, safety products and vision systems. We are also proud to have the opportunity to support, in the next phase of growth, a leading Italian technology company like M.D., led for over 20 years by a far-sighted entrepreneur like Dr. Marcello Masi."
Marcello Masi, Chairman and Chief Executive Officer of Finmasi di Marcello Masi & C. S.A.p.A. declared: "the sale of M.D. to Datalogic is a source of great satisfaction to me and represents a unique opportunity to continue to increase the value of the company that I have run for 25 years, giving it continuity and allowing its people to continue to operate in Italy by becoming part of a large international group. The strong innovative and technological content of Datalogic and mutual respect with Dr. Valentina Volta make me confident of M.D.'s ability to continue and even expand its growth path with the same entrepreneurial spirit with which I have led it so far."
On the basis of preliminary figures, MD Micro Detectors, together with its subsidiaries, estimates a turnover of approximately Euro 25 million, an EBITDA of approximately Euro 4 million, a positive net financial position of Euro 250 thousand as of and for the year ended December 31, 2020 and has approximately 200 employees (2).
The Group Datalogic will meet the financial commitments arising from the acquisition exclusively through its own financial resources within existing credit lines. The completion of the transaction is currently expected on 1 March 2021, subject to fulfilment of conditions in line with market practice for similar transactions.
White & Case LLP advised Datalogic and Titi & Associati advised Finmasi di Marcello Masi & C. S.A.p.A. on the legal aspects of the transaction. The parties have been advised also by Ernst & Young.
(1) Of which 200,000 shares, equal to 10% of the share capital, represented by owned shares.
(2) M.D. Micro Detectors drafts its financial statements in accordance with the Italian accounting standards issued by the Organismo Italiano di Contabilità (OIC).
Ebitda= Earning before Interest, tax, depreciation and amortization
NFP = Cash and cash equivalents, financial assets and liabilities
Learn more at https://www.datalogic.com.
Datalogic Group
Global leader in the automatic data capture and factory automation markets since 1972, Datalogic empowers the efficiency and quality of processes in the Retail, Manufacturing, Transportation & Logistics and Healthcare industries.
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