IT PAS S.R.L., REFERENCE PLAYER IN ITALY IN THE CONSULTING ON SERVICENOW PLATFORM, JOINS SESA GROUP, THANKS TO THE BUSINESS COMBINATION WITH VAR GROUP
Empoli (FI), February 17, 2025
Sesa (“SESA” – SES.MI), reference player in Digital Technology, System Integration and Business Application for the business segment, with about Eu 3.2 billion consolidated revenues and 5,700 employees as of April 30, 2024, has signed a binding agreement, through its subsidiary Var Group S.p.A. (“Var Group”), to acquire the 52% majority stake of IT PAS S.r.l. (“IT PAS”), strengthening its skills in the Enterprise Platform, to support the digital transformation of international enterprises.
IT PAS, company based in Naples, with revenues in FY 2024 of Eu 3.1 million and an Ebitda margin of about 15%, operates with a team of 25 skilled human resources in consultancy on ServiceNow platform. Through Artificial Intelligence-based solutions, the company automates and improves the efficiency of enterprise and organization processes in all industrial sectors, enabling people to perform their work more effectively. Thanks to the potential of the ServiceNow platform and the know how developed in several projects, IT PAS supports companies in improving the efficiency of their business, enabling them to map and digitalize their workflows. The company also offers enterprise cloud-based services that facilitate internal procedures, providing intuitive solutions for digital workflow management and data integration, reducing the workload.
The acquisition has been closed on evaluation criteria in line with those usually adopted by Sesa Group, with an Enterprise Value in application of a 5x Ebitda multiplier of the target company. The Sesa Group continues to boost its growth path, both in terms of resources and digital skills, through bolt-on industrial M&A with targets of long-term sustainable value generation for all stakeholders.
“Thanks to IT PAS, we enrich our offering of consulting, design and implementation based on ServiceNow platform, supporting Enterprise and Midmarket demand in several industry sectors. The partnership confirms our commitment as strategic partner that aims to lead companies in the adoption of innovative technologies, platforms and functional models to support their digital evolution. We are pleased to announce this business combination, confident that joining our skills, we will create effective value for Italian enterprises and a growth opportunity for the people of our organization”, stated Francesca Moriani, CEO of Var Group and Fabio Falaschi, Head of Enterprise Platform of Var Group.
“We are very pleased to have found a partner such as Var Group to continue our strategic growth path. The partnership represents the basis for creating real synergies between our organizations and our people, developing the overall potential of our companies. Thanks to the help of a so relevant group, we will be able to support our customers more effectively and extensively, offering business process consulting, innovative and integrated solutions”, stated Luciano Russo, Founder and Managing Partner of IT PAS.
“We continue our investment path in technology innovation and skills supporting the value creation of our client enterprises across their digital evolution. The business combination is part of our Group’s industrial transformation path, increasingly oriented towards consultancy, digital platform, and technology innovation across the main drivers of evolution as processes digitalization, AI and Cybersecurity, pursuing sustainable and long-term value generation for stakeholders”, stated Alessandro Fabbroni, CEO of Sesa.
