February 12 (SeeNews) - Italian digital marketing services Alkemy said on Monday it signed an agreement to set up a joint venture (JV) with Serbian sector player Nelt Co. to expand its business in Southeastern Europe (SEE).
Alkemy SEE, the wholly-owned Serbia-based subsidiary of the Italian company, will hold a 51% stake in the capital of the joint venture, while Nelt Co. will control the remainder, Alkemy said in a filing with the Milan Stock Exchange.
You can subscribe to our M&A newsletter here
Under the terms of the deal, Alkemy will acquire the entire capital of Serbian online market placement services provider Tako Lako Shop from Nelt Co., the Italian company said without providing financial details.
The agreement will allow Alkemy to create a local hub for its platform-based services, benefiting from the widespread and consolidated logistics network of Nelt Co.
Alkemy specialises in the innovation of the business model of large and medium-sized enterprises and has been listed on the Milan Stock Exchange since December 5, 2017.