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Report on operations<br />
Acquisition of Riverland Solutions GmbH<br />
On August 4, 2010 <strong>Reply</strong> S.p.A. acquired 75.016% of the share capital of Riverland Solutions GmbH, a German<br />
company specializing in consulting and systems integration on Oracle Applications (Oracle CRM, Master Data Management,<br />
Fusion Middleware, Business Intelligence and Fusion Applications).<br />
Munich-based Riverland recorded a turnover of 12.5 million Euros in 2010, with an EBIT of 15.6 %.<br />
Riverland counts some of the leading German companies in the Transportation, Life Science, Retail and Automotive<br />
industries among its clients.<br />
<strong>Reply</strong> already has a presence in Germany with syskoplan AG, listed in Frankfurt, and other business units operating<br />
in Finance and Media, with a total turnover of approximate 65.5 million Euros. The acquisition of Riverland fits into<br />
<strong>Reply</strong>’s development strategy of creating a European network of highly specialized boutique companies.<br />
Riverland has become a component of the <strong>Reply</strong> Oracle Technologies, an area where <strong>Reply</strong> today is regarded as one<br />
of the leading players in Europe.<br />
The acquisition of Riverland will enable <strong>Reply</strong> to bring to the German market a comprehensive Oracle offering, providing<br />
coverage of the entire technology with application suites together with leading vertical solutions for different<br />
markets.<br />
The acquisition of the share capital involved an investment of 4.5 million Euros, paid up entirely in cash through the<br />
use of the Stand By line of credit in which was undersigned with Intesa Sanpaolo S.p.A. A further variable compensation<br />
of 3.8 million Euros will be utilized for the acquisition of 75.016% of the company’s share capital.<br />
Acquisition of Lem Consulting S.r.l.<br />
On October 26, 2010 <strong>Reply</strong> acquired the 100% share capital of LeM Consulting S.r.l., a company based in Genoa,<br />
specialized in the logistic and mobility sector for the realization and improvement of innovative projects. The acquisition<br />
of Lem consulting S.r.l. amounted to an investment of 400 thousand Euros of which 200 thousand Euros was<br />
paid up entirely in cash and 10,698 <strong>Reply</strong> S.p.A ordinary shares were transferred.<br />
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