CAREL to acquire an 82.4% stake in Kiona for $192m.

CAREL, a provider of control solutions for air-conditioning, refrigeration and heating, agreed to acquire an 82.4% stake in Kiona, an IT services provider, for $192m. "The transaction announced today represents CAREL's eleventh acquisition since its listing on the Milan stock exchange five years ago and once again confirms our ability to consistently and promptly pursue ambitious growth objectives by external means. Specifically, the acquisition of Kiona, an excellence in its reference sector with strong revenues growth and robust profitability, aligns perfectly with the Group's strategy to strengthen its position in the digital services sector oriented towards energy efficiency," Francesco Nalini, CAREL CEO.