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Nice enters strategic partnership with FSI

Nice enters strategic partnership with FSI

Nice Enters Strategic Partnership with FSI

ODERZO, Italy –Home management and building management solutions provider Nice, and BeNice Holding, its primary shareholder, have entered into a binding agreement with Italian technology investment firm FSI for an undisclosed capital investment in Nice.

Nice said that the partnership with FSI supports its next phase of development and growth for the company through a shared path that will capitalize on the strong global leadership position it has achieved, “…increasing market share in different sectors and geographies, important investments in value creation to accelerate organic growth, and combining synergies from both organizations to achieve strategic objectives.”

"We are delighted to have identified the right partner for Nice. This partnership better enables us to make further investments in both markets and technologies strategic to our growth, thus improving people's quality of life and contributing to a better environment. These are the development directions in which we believe and in which we are ready to commit ourselves financially, both organically and through M&A, as we recently did with the important acquisition of Nortek Security & Control in the United States," underlines Lauro Buoro, founder and chairman of Nice.

Headquartered in Oderzo, Italy, Nice employs over 2.800 team members across five continents and reported revenues of about €800 million Euro (about $900 million USD). The company offers a complete range of connected and integrated products for residential, commercial, and industrial applications, serving partners in over 100 countries.

"With this investment, FSI confirms its DNA to support the most foresighted Italian entrepreneurs in creating leaders, with strong R&D and global footprint. Our track-record in the technology industry, in which we invested a billion Euro in recent years, makes FSI the right partner to support the next phase of Nice growth," said Maurizio Tamagnini, CEO of FSI.

For the deal, FSI made an investment through a reserved capital increase for a minority stake in the company's capital. The transaction is subject to the signing of the final contractual agreements, expected by the last quarter of 2023, and the approval of the regulatory authorities. Nice was assisted by Lazard and Legance Avvocati Associati law firms, and FSI by Ernst & Young and Bonelli Erede law firms.

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