The transaction entails the majority stake acquisition of Delta Tecnologías de Información S.L. by Sesa S.p.A., acting through its subsidiary Var Group. This business combination is a strategic move to reinforce the group’s Digital Identity and Blockchain capabilities within the Iberian market. Structurally, the deal integrates the target’s specialized proprietary OCR, biometrics, and AI-driven data automation technologies into the acquirer’s established Digital Security and Blockchain competence centers. The strategic rationale is multifaceted: it expands the acquirer’s geographic footprint in Spain, adds highly specialized digital identity expertise to the portfolio, and creates operational synergies by leveraging the target's existing customer base in the hospitality and healthcare sectors.

DELTA TECNOLOGÍAS DE INFORMACIÓN, which reported an EBITDA margin of LOGIN in 2024, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level around LOGIN lower than the average currently observed in the TMT (Tech, Media, Telecom) sector (12.8x).

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