SIA to incorporate RA Computer subsidiary

Source: SIA

The Board of Directors of SIA, chaired by Giuliano Asperti, has approved the merger by incorporation with SIA of subsidiary RA Computer, continuing the Group's process of rationalization and reorganization aimed at further consolidating coverage of the Corporate and Public Administration sectors and at achieving greater operating efficiency.

The operation does not involve any change in the composition of the Board of Directors of SIA and entails the cancellation without exchange of all the shares representing the entire share capital of RA Computer, since SIA was already in possession of 100% of the company.

Founded in 1980 and joining SIA Group in 2006, RA Computer specializes in the creation of applicative solutions and the supply of services to the financial market, to Corporates and Public Administration bodies.

The head office is in Milan, it has branches in Rome and Macerata and it counts around 250 employees. In 2013, RA Computer recorded a value of production of €32.3 million, a positive operating margin of €1.6 million and net profit of €0.7 million.

In addition, the Board of SIA has approved the partial spin-off of subsidiary TSP, which involves the transfer to the parent company of the business branch "Gateway", the technology platform that manages collection and payment services in multi-channel mode.

As a result of this spin-off, SIA also acquires direct control of payment institution PI4PAY, which has been in operation since 1st July 2011.

Both the corporate operations, effective from 1st January 2015, form part of the SIA strategic plan which calls for an increasing focus on developing the market segments relating to Corporates and P.A. bodies. 

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