axélero S.p.A. (BIT:AXEL) signed preliminary agreement to acquire Privategriffe S.p.A. from AngeLab Ventures, VAM Investments s.p.a., Supernovae2 S.r.l. and other shareholders for €1.8 million on August 4, 2016. Most of the shareholders of Privategriffe (about 72.37%, including Supernovae2), has chosen to be remunerated through a variable price linked to the achievement of results after a three-year period, calculated based on an overall amount established in line with the equity value. The maximum amount payable will be €0.8912 million. The remaining 27.63% of the shareholders have chosen to receive the payment 12 months after the date of transfer of Privategriffe’s share capital to axélero at a price equal to the stake held, as calculated based on an overall fixed amount of €0.8912 million. For the year ended December 31, 2015, Privategriffe recorded revenues of €0.223 million, negative EBITDA of €0.919 million, net loss of €1.001 million and negative net financial position of €0.0 72 million. The transaction will be finalized by September 30, 2016. Banca Popolare di Vicenza S.p.A. acted as financial advisor to axélero. Simona Raffaelli, Alfredo Mele and Anna Lisa Margheriti of Image Building acted as public relations advisors to axélero.