Vitrociset

25 June 2009

Vitrociset, the Italian company run by Tommaso Pompei is now expanding its business with the acquisition of EDA (Enterprise Digital Architects), an undertaking active in the design and management of communication networks.

The core business of EDA, founded in 2001 through a spin-off from Ericsson, was originally the provision of ICT services to private organisations and public institutions. Following its voluntary bankruptcy in 2007, in order to continue its industrial activities, the company’s administration was entrusted to Vitrociset for 18 months through a lease contract.

“The deal is extremely significant both in financial and industrial terms, says Tommaso Pompei. In actual fact one needs to consider that, on top of 28 million  worth of the acquisition, another 20 to 30 million of costs for the resumption of the former EDA operations and commercial activities should be added.
In industrial terms, the operation will allow Vitrociset to significantly expand its reference markets by strengthening its internal skills portfolio”.

“Through the definitive acquisition of EDA– concluded Pompei – Vitrociset has taken an important step in the implementation of a demanding and comprehensive industrial-development project”.

“This operation – says the General Manager Lorenzo D’Onghia – will endow Vitrociset with new and different know-how and experience for the achievement of our new strategic objectives, thereby further enriching our own experience and our technical offers up to the level required for entering new markets”.

“We are proud that we caused many of the discontinued activities of EDA to restart, including an Inter-police project to run a digital radio link network– continued D’Onghia – Inter-police is a wide-ranging and highly powerful network owned by the Italian State and used as communication infrastructure for Italian police forces”.

For Vitrociset, the year 2008 was also marked by a capital increase from 12 to 82 million - fully subscribed by the majority shareholder (Ciset srl); in addition, the recently closed financial year reported production value at 236 million euros , or 90 million more than the previous year.

The “new” Vitrociset adds the activities of former EDA to its historic segments of activity – i.e. Defence, Transport and Space. Under construction 25/06/2009.