(Alliance News) - Doxee Spa has announced that it has entered into an investment agreement with Simest Spa aimed at supporting the internationalization of the company and its Austrian subsidiary Doxee CEE Gmbh.

The agreement aims to obtain from Simest a dual support since it will act as both lender and shareholder - in both cases, up to a maximum of EUR2 million - through the entry with a minority stake in the share capital of the Austrian subsidiary established in August, with capital wholly owned by Doxee, after the transfer - which took place on Wednesday - from Doxee to Doxee CEE of the shareholding representing 90% of the share capital of Infinica Gmbh.

The company recalls that 90 percent of the share capital of Infinica, an Austrian technology vendor active in CCM, which has its own branches in Germany and Slovakia, was acquired by Doxee in September.

"The acquisition was strategic as the Austrian company owns an internally developed SaaS platform focused on the delivery of CCM services dedicated to the creation and distribution of personalized on-demand and interactive documents," Doxee explained in a note.

In detail, the investment agreement calls for Simest to underwrite an aucap of a total of EUR2 million to acquire 42 percent of Doxee CEE's share capital and to provide its own financing of a maximum of EUR1 million as well as financing through the venture capital fund of the same amount and with the same characteristics, but with a fixed rate at 1.25 percent.

To enable Simest to invest in Doxee CEE and thus make the capital increase effective, Doxee transferred the equity investment to the latter at a carrying price of approximately EUR9.5 million.

Doxee is up 2.5 percent to EUR9.94 per share.

By Claudia Cavaliere, Alliance News reporter

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