The Lynx Group completes its third acquisition since the entry of FSI, taking 60% of the capital of PIC, an Italian company active in the consulting and IT services market.
For Lynx Group, this is the third acquisition in the last seven months, following Insurance On Line in December 2021 and Double Consulting in April 2022, in line with the strategic objectives mapped out upon FSI’s equity investment in November 2021. With the acquisition of PIC, the Group will expand its customer portfolio primarily in the utilities sector and strengthen its technological expertise in the banking sector.
Lynx, an Italian system integrator in which the FSI fund has a stake, has acquired 60 per cent of PIC Servizi per l’Informatica (“PIC”), an Italian company operating in the IT consulting and services market with offices in Milan, Turin, Rome and Arezzo.
The company is mainly involved in software development and system integration, with strong vertical technological expertise on leading market platforms (Salesforce for CRM, QlikView/Qliksense for Business Intelligence). The selling shareholders will retain a 40 per cent stake in PIC, with operational powers and a presence on the company’s board of directors in order to ensure operational continuity, while also reinvesting part of the proceeds in Lynx.
With this transaction, Lynx will exceed EUR 100 million in revenues in 2022, with more than 1,100 resources.
“2022 is proving to be a year of huge growth for the Group,” explains Matteo Moretti, CEO of Lynx. “Lynx is succeeding in realising its growth project through the aggregation of other Italian companies operating in the IT sector, with the goal of becoming a leading digital operator in Italy, also for the benefit of its customers. Against this background, PIC represents a key operation as it allows us to grow both in terms of customer portfolio and in terms of skills, with a business model that can be swiftly integrated within the Group.”
Marco Pisa and Claudio Bonissone, the founders of PIC, commented, “Following the impressive results achieved over more than thirty years, the objectives of the company and management remain unchanged and we believe that Lynx is the ideal partner to support PIC in a new phase of growth and development, within an increasingly competitive market. Our commitment as managers and shareholders is reaffirmed and is the best guarantee for the future of the company, which wants to continue to further consolidate its position in the world of consulting and IT services”.