SimCorp acquires Italian software company APL Italiana S.p.A.
Today, SimCorp has signed an agreement to acquire all shares in APL Italiana S.p.A. (APL Italiana) for a total enterprise value of EUR 35m. This includes EUR 10m in SimCorp shares. The purchasing price will be adjusted upwards with estimated EUR 3m upon closing of the agreement. APL Italiana is a leading provider of investment and portfolio management software for the Italian insurance market. The company is based in Milan and has approximately 120 employees. In 2016, APL Italiana generated revenue of EUR 16.6m and EBIT of EUR 4.8m.* The acquisition will be effective on 1 July, 2017,