Comunicati Stampa
Exprivia has acquired the 20% of QuestIT a company specialized in technologies and applications of Artificial Intelligence

1 August 2019

The company set up as a spin-off of the Department of Information Engineering of the University of Siena

Exprivia has signed the contract for the acquisition of the 20% of the capital of the Sienese QuestIT company specialized in Artificial Intelligence technologies and applications.

QuestIT Srl, founded in 2007 as a spin-off of the Artificial Intelligence research group of the Information Engineering Department of Siena, realizes Artificial Intelligence solutions based on cognitive and machine learning technologies, which allow to extract value from data improving processes and organization. QuestIT boasts ten-year collaborations with leading international groups working in the same sector, for the creation of data-based "decision support" systems. QuestIT has developed products with cutting-edge proprietary technologies. Among others, a Natural Language Processing (NLP) and Natural Language Generation platform (NLG), crawling systems, information extraction engines and data mining internationally recognized and discussed in several scientific publications published by the most important magazines in the sector.

These technologies allow to the machines to understand the meaning of words through a deep semantic analysis, crucial for the realization of Virtual Assistants able to understand the requests of the users, the
analysis and the document research, the acquisition of information from the network, the extraction of structured data and the identification of qualitative information.

"The Artificial Intelligence - states Domenico Favuzzi, president and CEO of Exprivia - is redefining the ways of working, doing business and the life itself of each of us. We believe that this technology will have an everincreasing impact on the global economy and in all market sectors. It is for this reason that we consider this acquisition as part of our innovation strategy that we offer daily to our customers."

"This operation is envisaged by the strategic lines of the Business Plan presented to the market in July 2018 - states Gianni Sebastiano, head of Strategy and Investor Relations - and is consistent with the Open Innovation program that opened the Group to the solicitations and to the developments of the Innovation ecosystem. We have been working with QuestIT for some years now, during which we have been able to appreciate the value of the technologies developed and the potential and skills of people."

Exprivia has acquired the 20% of QuestIT's share capital, a company of the The Digital Box group, at a price of 300,000.00 euro, with a call option for the acquisition of an additional 10% valid for no later than 24 months after the signing of the contract. The agreements foresee the entry of an Exprivia representative into the company's board of directors.

Exprivia SpA Company subject to management and co-ordination of the Abaco Innovazione SpA

Registered Head Office Via A. Olivetti 11 70056 Molfetta (BA)
Company Share Capital € 26.979.658,16 paid up • Bari Company Register, Tax identification Number 00721090298 Vat Number 09320730154