Esprinet signs agreement to acquire 4Side
Broadliner Esprinet has signed a binding agreement with the managers to acquire 51% stake in the share capital of 4Side, a distributor recently formed by former managers of Activision Blizzard Italy, namely Paolo Chisari (General Manager), Maurizio Pedroni (Sales Director), Piero Terragni (Operation Director) and Stefano Mattioli (Finance Director). The deal has been valued at net equity plus a fixed goodwill value of Euro 0.4 million for the 51% stake of the company. The deal is not subject to any Antitrust approval.
As a part of the deal, Esprinet and the managers will sign a shareholders’ agreement aimed at establishing corporate governance rules covering the period along which the parties will jointly run the company. Esprinet has also obtained from the managers a call option on the remaining 49% stake of the company exercisable between 4 and 6 years from the date of closing, together with a set of warranties that are customary for a deal of this kind.
Esprinet has been active for years in the distribution of gaming entertainment (videogames and consoles). The acquisition allows Esprinet to enhance its position as a leading distributor in a strategic business segment while 4Side will benefit from Esprinet’s financial strength and logistic capabilities. Following completion of the deal Paolo Chisari shall be appointed as Chairman and Chief Executive Officer of the company and Stefano Mattioli as Executive Officer.
Alessandro Cattani, Chief Executive Officer of Esprinet Group, commented: “we’re so glad to say welcome within our Group to the management team of 4Side. This deal represents a further move along our strategy of penetration into high-margin high-specialized niche market segments. Esprinet is enabled to strengthen its positioning in gaming distribution business through acquiring specific know-how to capitalise on providing highly professional quality services to our customers.”
Paolo Chisari, Chief Executive Officer of 4Side, added: “the presence of Esprinet among our shareholders is a badge of honor and a guarantee as well. Its incredible qualities in distribution as well as its financial standing together represent an assurance for us that our challenging development plans are going to receive a full support. Today we witness the birth of a group which combines knowledge and experience in gaming entertainment business with strong financial, managerial and organisational skills being a unique combination of strong interest for all potential vendors.”
4Side recently announced a four-year agreement to manage distribution and product marketing in Italy for Activision Blizzard products. The mission of 4Side is to become the main independent Italian distributor in the “gaming entertainment” industry by developing a complete portfolio inclusive of videogame publishers and vendors of gaming accessories (headsets, pedals, steering wheels, seats, supports, toys, cards, figures, books, glasses, etc.).