Olivetti S.p.A., Italian leader in the ICT sector, fully controlled by Telecom Italia Group, disposed the line of business Banking & Postal to Advance Printing Company International Ltd., leading Hong Kong manufacturer and seller of specialized dot matrix printers and printheads.

Telecom Italia Group’s range of offers – focusing on advanced and integrated solutions for consumers, businesses and institutions – includes: telecommunications, internet, digital content, cloud computing, office and system solutions.

As part of the restructuring plan, Olivetti and Telecom Italia have decided to focus on Olivetti’s distinctive competences, characterized by the capacity to design and engineer objects, by its capillary sales network and by an internationally-famous brand name, integrating them with the know-how accrued by Telecom Italia Group in the Machine to Machine, Internet of Things, Cloud Computing and evolved multi-channel sectors.

The operation in fact comes as part of the business model evolution process, which has moved away from the traditional business and towards that of the Internet of Things, intelligent services and products and qualifying platforms, with the aim of operating in different strategic sectors ranging from Smart Enterprise, Smart Retail, Smart Industrial and Digital School through to Automotive and ICT Security.

With the acquisition of the Olivetti Banking & Postal Line of Business, Advance Printing Company International Ltd. strengthens their position in Europe and extends their product portfolio.

IMAP initiated the transaction on behalf of Telecom Italia S.p.A. and handled it in all its phases.