Sin&rgetica Will Be the Strategic Development Advisor

4 November 2008

TAS has appointed Sin&rgetica as financial advisor for the development of the business and identification of acquisition opportunities.

Sin&rgetica will, in particular, be responsible for assessing strategic business development activities and will have the task of searching for acquisition opportunities of businesses and lines of business and individual assets in sectors of interest to TAS.

The assistance of Sin&rgetica, which has acted in the past as strategic and financial advisor to numerous leading companies in the Telecommunications and Information Technology sector, will include, among other things, the entire preliminary advisory activity for assessing identified market opportunities in Italy and abroad. TAS, headed by Giuseppe Caruso, is engaged in realizing a development plan that envisages focussing on the core business (software for electronic money, payment systems and financial markets), extension of the Group’s presence in new economic sectors and its expansion abroad.

Sin&rgetica's financial advisory team, coordinated by Alessandro Ermolli with the support of Federico Giammarusto, has managed some of the most important financial transactions on behalf of industrial groups that are leaders in their own sectors.

The growth opportunities for TAS core business come, among other things, from the impacts of the new European regulations. In the electronic money sector, the introduction of a single market (SEPA) will involve an extension of the market and a greater tendency of intermediaries towards outsourcing solutions. The Payment Services Directive (PSD) will open the market to new subjects, starting from the large-scale retail trade, that will be allowed to operate as payment institutions. Abolition of the obligation to concentrate negotiations on the regulated markets and the transparency obligations dictated by the best execution provisions introduced by MiFID will increase the opportunities for growth in the financial markets sector. The use of innovative IT solutions will also become strategic for public administrations engaged in increasing the visibility of their actions in the reference communities.

Expansion abroad will leverage on the market positioning and customer base of the three foreign subsidiaries (Relational Tools in Spain, TAS France and Apia in Switzerland), as well as aim at areas with interesting development potential, including North Africa and South America.

During the first six months of the year, TAS had revenues of 36.5 million Euro and an EBITDA of 6.9 million Euro.

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