Exefin sells Viasat Group and accelerates towards satellite technological solutions
Elem Groupthe New Industrial Holding controlled by Exefin of the Petrone familyannounces the completion of the closing of the transaction with Targa Telematics Spa, a tech-company specializing in development of IoT solutions and digital platforms for connected mobilityfor the sale of 100% of the share capital of Viasat Group Spa. The closing took place after the approval of the Antitrust Authority in Italy and the successful completion of the Golden Power procedure in Italy and Spain.
The transaction – as already communicated on 27 February 2023 – does not include the Design and Production of Hardware, Software and Data Ingestion Telematic Platforms, the core business of the companies VEM Solutions (Italy), Icom ODD (Vem Technology, Bulgaria), Minipuls (Bulgaria) and BluTech (China), merged under the control of Elem Group. There società Greenext Technologies S.p.A., previously within the scope of Elem Group, was sold on May 12 last year a TeamSystem S.p.A.
What does the industrial holding of Elem Group do?
The Group proposes itself on the market, inheriting the history of Elem, an electronic design and production company founded by the entrepreneur Domenico Petrone in 1974, as a company specialized in the production of electronic systems for the Automotive, Sport Car Racing, ICT, Industrial, Telecommunications, Defence, Aerospace markets and in the design and production of Telematic Solutions for the automotive industry with the application of Satellite Tracking Technologies.
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