AI & BigData

Sale of The Data Appeal Company to Almawave


Almawave S.p.A., an Italian company listed on the Euronext Growth Milan (Ticker: AIW) and part of the Almaviva Group, an Artificial Intelligence (AI), natural language processing and Big Data services leader, has signed a binding agreement for the full acquisition of The Data Appeal Company S.p.A., with registered office in Florence and a developer of vertical AI analytics solutions and the tourism, fintech and location intelligence sector leader. The transaction overall is worth Euro 16.5 million.

The Data Appeal Company - which also sees Indaco Venture Partners SGR S.p.A., Airbridge Investments B.V and H-Farm S.p.A among the selling shareholders - is a high growth potential scale-up which supplies over 140 customers globally - including Best Western, JLL, Intesa San Paolo, Carto, Coca-Cola and Campari, in addition to many Public Sector bodies - with Artificial Intelligence, Big Data and alternative data-based tools and products to support their decision-making processes and the application of key information from data.

Through its proprietary technology, it collates and analyses large-scale digital content, combining it with geographic and contextual data and converting it immediately into actionable insights which support the taking of more accurate strategic and operative decisions.

The Data Appeal Company reports revenues of approx. Euro 1.5 million for 2020 and estimates growth in excess of 40% for 2021. Recurring revenues account for over 80% and even stronger growth is forecast for the subsequent years. All of this will allow the company to meet the "Rule of 40" (the sum of the annual revenue growth rate and the profitability margin greater than 40%), on a continuous basis and to remain on its current strategic and growth trajectory.

This strong growth is based on - in addition to the company’s positioning - the high scalability of its solutions, greater awareness of the benefits of using alternative data among players across multiple industries, in addition to the rapidly-growing general marketplace. Furthermore, the National Growth Plan (PNRR), which will allocate significant resources to Tourism - one of the company’s core markets - in addition to the digitalisation and advanced use of data, may further accelerate growth.

The company has a team of 30 professional staff, with solid AI expertise and vertical industry knowledge for the development of use cases. The Data Appeal Company has received numerous recognitions, including the most recent Travelport Elite and Amazon Web Services 2021.