FSI-backed Cedarci completed the acquisition of Oasi from Nexi Financial Group for €151m.

FSI-backed Cedarci, the company active in outsourcing IT services for banks, completed the acquisition of Oasi, a banking compliance firm, from Nexi Financial Group, an Italian bank owned by Advent, Bain Capital and Clessidra, for €151m. The closing of the deal is expected by next February. Cedacri will finance the operation using a pool loan organized by a consortium of 14 financial institutions, shareholders and non-shareholders. Alfredo Pallini, CEO of Oasi, will remain managing the company even after the acquisition. "Oasi represents Italian excellence in the business of regulatory and compliance activities and we are convinced that it will continue its growth path. The sale is consistent with Nexi's strategy of focusing on payment-related activities and consolidates our mission: to be the Paytech alongside banks in the development of digital payments in our country," Paolo Bertoluzzo, Nexi CEO.