(Alliance News) - Digital Magics Spa and Tinexta Spa announced Thursday that they have signed a joint venture agreement.

The partnership provides for investments including early-stage, seed stage and possible follow-on investments in companies that develop digital technologies, including through artificial intelligence tools and solutions, in areas potentially related to the Tinexta group's target industries in a logic of "open innovation."

"Through this partnership Tinexta intends to select investment opportunities in start-ups that, following a growth process, can contribute to providing functional solutions to innovate the group's offerings," the statement reads.

Digital Magics trades in the green by 1.7 percent at EUR3.00 per share, while Tinexta gives up 0.9 percent to EUR16.75 per share.

By Claudia Cavaliere, Alliance News reporter

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