(Alliance News) - SolidWorld Group Spa announced Friday that its board of directors has approved a EUR755,000 capital increase, with the issuance of 188,750 new ordinary shares.

The issue price of the new ordinary shares was determined to be EUR4.00. Through this transaction, sa Company will successfully complete the total acquisition of the share capital of SolidInnovation Srl, a subsidiary company specializing in software development for artificial intelligence in the industrial context, and strengthen its stake in Design Systems Srl, a company focused on 3D technology in the aerospace field.

These steps are part of a process of corporate simplification aimed at improving efficiency, achieving synergies and economies of scale to nimbly meet the growing needs of the technology market. The goal is to steadily integrate "in-house" product and service offerings for the group's 10,000 customers while maintaining its leadership position in its respective areas of expertise.

In addition, the capital increase will enable the company to complete the corporate transaction with Solidfactory Srl-another 51 percent subsidiary-relating to the offsetting of the credit claimed by the previous shareholders as a result of their transfer to the company of an equal shareholding in Solidfactory's share capital.

Roberto Rizzo, chairman of SolidWorld Group, said, "Today, the board of directors has resolved on another crucial step in our corporate journey: the capital increase we are about to implement is, in fact, much more than a financial move. It represents another step in the strategy aimed at strengthening our leadership in the digital and 3D worlds by allowing us to have direct control over the entire production process, something that is fundamental to guaranteeing the quality and innovation that sets us apart."

"The 100 percent acquisition of SolidInnovation is at the heart of this operation. This positions us at the center of innovation in artificial intelligence and process control, enriching our portfolio of offerings with cutting-edge services. Thanks to the combination of advanced software, scanners and 3D printers included in Additive Manufacturing, we can now accompany our customers throughout the entire industrial product lifecycle: from the ideation stage to production and recycling, with highly customized solutions adapted to each customer's individual needs."

"This is an exciting phase for us, a time when our vision and commitment are concretely translated into tangible value for ourselves and our customers. I am confident that this step will take us to new heights of innovation and success."

SolidWorld Group's stock closed Friday up 2.1 percent to EUR3.47 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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