Poste and Istituto Poligrafico e Zecca dello Stato take over PagoPa
The purchase price is approximately EUR 500 million
Key points
The Istituto Poligrafico e Zecca dello Stato (Ipzs) and Poste Italiane have purchased from the Ministry of the Economy the entire share capital of PagoPa, a company that manages a number of telematic services and platforms, including the Io app, exercising their option rights. This was announced in a note. The option exercised by Ipzs is for a controlling interest of 51% of PagoPA's share capital, while the one exercised by Poste is for 49%. Completion of the transaction is subject to obtaining authorisations from the relevant authorities. The purchase price is approximately EUR 500 million.
The strategy
"The acquisition of PagoPA represents an investment of a strategic nature for Ipzs, with the aim of making the management of public digital services, from identity to payments, more efficient and simpler, and developing the IT-Wallet System coordinated by the Department for Digital Transformation," the text reads. IT-Wallet is the technological solution with which the Italian State allows citizens to store, consult and use digital documents, certificates and attestations on their smartphones, and will offer a secure, accessible and legally recognised digital alternative to traditional physical documents, in line with the planned European digital wallet architecture.
