Telecom Italia Digital Solutions, the digital division of Telecom Italia SpA, the Italian leader in telecommunications, has acquired a significant stake in W.A.Y. –Where Are You?– Srl, the Turin-based company active in the development and sell of services of geolocalization for fleets management. Financial details have not been disclosed.
W.A.Y. sells and rents geolocalization devices to transportation and logistics, insurance, and telecommunication companies. The company has more than 2,000 clients using the W.A.Y.'s cloud systems, with several thousands of vehicles remotely managed or linked to control stations.
Telecom Italia Digital Solutions, the digital division of Telecom Italia SpA, is one of the leading telecommunication players in Italy. The group operates in Italy and Brazil and is also active in other parts of Europe, North America, Africa and Asia through Sparkle, Lan Nautilus and Med Nautilus, Telecom Italia's local operational companies.
“Partnering with Telecom Italia is a unique opportunity for W.A.Y. to grow in the domestic market and abroad leveraging on new technological and commercial synergies that might be generated from now on. The valuable and continuous advise of Arietti & Partners has been crucial in negotiating and closing the deal with a blue chip company such as Telecom Italia," comented Massimo Marchetti, CEO of W.A.Y.
Oaklins' team in Italy advised the seller in this transaction.
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