Strategic agreement sealed between CAD IT and Spafid Connect from the Mediobanca Group

CAD IT, leader in the financial software market and listed in the STAR segment of Borsa Italiana, announces having signed today a strategic agreement with Spafid Connect, a company within the Mediobanca Group which provides application development activities and solutions with high technological content in the shareholder and corporate service sector on behalf of listed Issuers.

With this ten-year agreement, Spafid Connect and CAD IT intend to promote their respective commercial relations with bank and insurance company clients, in order to offer a unique and innovative service also by integrating CAD IT's Finance Area product with Spafid Connect's Issuers platform.

The agreement is of strategic importance to CAD IT since, besides strengthening its own positioning on the banking and insurance market, it also creates synergies in research and development costs.

Giuseppe Dal Cortivo, President of CAD IT Group, said:

“This partnership with such a high standing Company as Spafid Connect from the Mediobanca Group allows us to differentiate our offer towards Issuers by exerting leverage on the substantial complementarity that comes from combining our products with Spafid Connect's services".

Stefano Pellegrino, Managing Director of Spafid and Spafid Connect, commented:

“I am extremely pleased about the partnership with CAD IT which comes only a few months after establishing Spafid Connect, Spafid's technological platform operating within the Issuers Service field. It represents further and significant progress in our company's development. This agreement will lead to overcoming the fragmentation  problem of IT solutions offered to banks and insurance companies by integrating them with assistance services to existing listed companies and those coming up for listing”.