WPTG intends to acquire fifty percent of Latin American digital solutions provider Ataraxy Digital
White Pearl Technology Group (WPTG) signs Letter of Intent to acquire fifty percent of the shares in Uruguayan company, Ataraxy Digital for 520 000 SEK in a cash deal. The remaining part of the shares are equally split among the two founders. The acquisition will be completed in January 2024 after a due dilligence.
Ataraxy Digital is an industry-agnostic digital product agency, headquartered in Montevideo, Uruguay. This acquisition marks WPTG's continued expansion into the thriving Latin American marketplace but also into hardware development markets in India and China. For WPTG it opens up multiple business oportunities into new markets with new types of offers and skill sets that WPTG does not yet have in its portfolio. The agency will continue to be operated under its own brand, Ataraxy Digital, by founders, Federico Imparatta and Martín Alcalde, and is expected to turn over 2,7 to 3 millions SEK in 2024.
This strategic acquisition expands WPTG’s capacity to offer comprehensive digital transformation services to customers in Latin America, North America and Asia by tapping into Ataraxys Digital client base. Ataraxy Digital’s regional expertise across emerging technologies can seamlessly be combined with WPTG’s global delivery mechanisms. For WPTG customers, it opens access to an expanded portfolio spanning cutting-edge mobile, AI/ML and IoT capabilities to automate processes through tailored augmentation.
"The partnership with Ataraxy Digital gives us, regional knowledge coupled with expertise in prototyping and data-powered design that perfectly complements our next-generation solutions suite and it is a footstep into new marketplaces," says Marco Marangoni, CEO of White Pearl Technology Group.”
Providing full lifecycle product support from conceptualisation to launch across diverse sectors like fitness, healthcare, and finance makes Ataraxy a strategic fit for augmenting WPTG’s expanding portfolio.
This information is such information that White Pearl Technology Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at the 14th of November 2023 at 13.00 CET.
About Ataraxy Digital
Ataraxy is a user-centric digital product agency powering idea realisation through its unique skills integrating software, UX design and digital strategy. With expertise across mobile, web, product ideation and enterprise solutioning, Ataraxy helps industry-leading brands craft digital products stimulating progress. www.ataraxydigital.com
For further information, please contact:
Marco Marangoni, CEO, White Pearl Technology Group
E-mail: ir@whitepearltech.com, Phone: +598 93 370 044
Jenny Öijermark, IR-Manager, White Pearl Technology Group
E-mail: jenny.oijermark@whitepearltech.com, Phone: +46 707340804
The Company's Certified Adviser is Swedish North Point Securities AB.
About White Pearl Technology Group
White Pearl Technology Group, based in Stockholm and listed on Nasdaq First North Growth Market as WPTG, comprises of 28 companies, operating in the information technology space. They are diversified IT companies selling their own solutions and products, as well as services and products of third-party vendors. The group has a presence in thirty countries throughout the world. The current focus of the group’s business is emerging markets and specifically Africa, Asia, the Middle East, and to a lesser extent, Latin America. www.whitepearltech.com