Sale of Corvallis’ IT and R&D business units to Tinexta


Klecha & Co. acted jointly with IMI – Intesa Sanpaolo as financial advisor to Corvallis Group in the definition of the agreement.

Tinexta will acquire a majority stake, equal to 70%, of Corvallis’ IT and R&D business units. In 2019, this business areas represented ca. 51 Eur Mln in revenues.

Corvallis’ IT and R&D business units are specialized in software development for financial institutions as well as in the provision of integration services.

The agreement will reinforce the business units’ current technological and commercial strengths and will generate synergies with Tinexta Group. Alongside this, the new strategic partnership is also focused on developing a new cybersecurity leader in the Italian market.