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February 18, 1999


By CBR Staff Writer

The board of Italian desktop hardware and software distributor and assembler Deltagroup SpA will ask a shareholders’ meeting next week for permission to change its name, becoming Opengate SpA, and to seek a listing on the Milan stock exchange. Deltagroup itself is a recent creation, having come into existence this month as a product of the merger of five companies dating back to September 1, which is now the beginning of the company’s financial year, according to marketing and communications director Doriano Guirrieri. The five companies in question were Delta, Modo, Task, Curiotre and Software & Co, and their combined revenues of $300m made the group the largest in its sector in Italy. Guirrieri said the expectations for revenues in the current year through August are $350m. While the management is reserved in its comments prior to the meeting, the logic behind the request for permission to float is clearly that the group is looking for a means to fund further expansion, both in Italy and abroad. We’re certainly looking at other markets, admitted Guirrieri, who declined to go into greater detail.

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