White Pearl Technology

WPTG signed a Letter of Intent on the 14^th of December 2023 and is now formalising the agreement. The new addition to WPTG's vast portfolio of diversified IT companies in emerging markets markets WPTG's continued expansion into the thriving Latin American marketplace, but also into the hardware development markets in India and China.

"By integrating Ataraxy Digital's expertise, we expand our mobility, AI, ML and IoT competencies portfolio for accelerated value realization for clients. Their specialised automation advancements will enable our teams to unlock next-generation process efficiency, insight discovery and experience enhancements by leveraging tailored augmentation capabilities seamlessly. This timely boost to our platforms and skills stack opens new markets providing wider competitive differentiation." said Marco Marangoni, CEO of White Pearl Technology Group.

"Ataraxy is a user-centric digital product agency that helps industry-leading brands craft digital products stimulating progress, " says Federico Imparatta and Martín Alcalde, founders of Ataraxy Digital. "We are very excited about the new business opportunities and the strength we gain by partnering up with WPTG and look forward to our joint journey." 

WPTG growth strategy and acquisitions

Even if last year's growth was organic, it is key for WPTG to continue to add more deep-tech knowledgeable IT consultant firms to give the company group a broad market footprint. The acquisition of Ataraxy should be seen in the light of the WPTG growth strategy.

WPTG has a clear program for acquisitions, based on the needs of each local market as well as the global market. WPTG will continue its stated objective of acquiring businesses into the company group that add to the it's base of solutions and businesses and enable it to provide customers with end-to-end IT solutions. Companies such as Ataraxy Digital allow WPTG to sell more products and services. 

WPTG comprises 28 subsidiaries providing IT services and the multi-faceted company group strengthens its highly diversified business model by this acquisition, achieved by a wide spread of specialised services in its companies.

Addition: On the 12th of July 2023, WPTG signed a Letter of Intent to acquire a majority stake of 51 percent in Independent Software Solutions Consulting Pty Ltd (ISSC). The parties decided not to go through with the deal in mutual consent.

The transaction in brief

• White Pearl Technology Group (WPTG) acquires 50 percent of the shares of Ataraxy Digital.
• The remaining part of the shares are equally split among the two founders Federico Imparatta and Martín Alcalde, who will continue to lead the agency as part of WPTG under its brand.
• Ataraxy Digital is expected to turn over SEK 2,7 to 3 million in 2024.

Purchase Price

USD 50 000 with cash payment

Completion of the transaction

1st of February 2024 

Advisers

The Company's Certified Adviser is Swedish North Point Securities AB.

This information is such information that White Pearl Technology Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on the 1st of February 2024 at 15.40 CET.

About Ataraxy Digital

Ataraxy is a user-centric digital product agency powering idea realisation through its unique skills integrating software, UX design and digital strategy. With expertise across mobile, web, product ideation and enterprise solutioning, Ataraxy helps industry-leading brands craft digital products stimulating progress. www.ataraxydigital.com