ESPRINET to acquire Sifar.

ESPRINET, an IT services company, agreed to acquire Sifar, an consumer electronics company. Financial terms were not disclosed. “The acquisition of Sifar is framed not only in the broader strategy outlined in the 2022-2024 Strategic Plan of ESPRINET of focusing on high margin business lines - the EBITDA profile of Sifar is over 10% - but also in relation to the strong engagement of our Group towards ESG principles, seizing all the opportunities that can be integrated into our sustainability strategy, including investments in environmentally friendly products and services. The distribution of components and spare parts for the repairing of smartphones and tablets aims at extending products life cycle, helping to minimize the generation of electronics waste and meeting the new needs of the circular economy. This operation, moreover, adds an important piece to EspriRent project, that, in the future plans of the Group, will also include the management of the refurbishing of the returned products at the end of the rental period,” Alessandro Cattani, Esprinet CEO.