Italian IT and cybersecurity firm Olidata is planning to expand through mergers and acquisitions, with a focus on domestic companies, Chairman and main shareholder Cristiano Rufini has revealed. Speaking in an interview on the sidelines of the TEHA Forum in Cernobbio, Rufini said the company could secure a significant deal before the end of 2024. He added that while growth would continue organically, M&A would be central to the group’s strategy.
Rufini stressed that Italy hosts high-performing but small centres of excellence in technology, which risk being lost without consolidation. Olidata, he explained, wants to build critical mass by integrating such companies, ensuring that their valuable technologies and solutions are preserved and scaled up. Since returning as the firm’s top executive in April, he has emphasised investment in digital healthcare and the development of proprietary cybersecurity solutions as strategic priorities.
The company reported €96.7 million ($113.4 million) in revenue last year, with an adjusted EBITDA of €5.9 million. Its shares are currently trading around €2.8, giving it a market capitalisation of about €53 million, well below the highs of €8.65 recorded in September 2023, the year it returned to the Italian stock exchange. Rufini acknowledged that the stock’s volatility reflects its ownership structure, heavily concentrated among small retail investors who account for around 32% of the capital.
Looking ahead, Rufini said Olidata’s ambition is to strengthen its identity and governance while attracting more stable, long-term backing. He noted that the absence of institutional investors and investment banks in the company’s shareholder base has left its shares exposed to fluctuations. The chairman concluded that by pursuing M&A and reinforcing its market presence, Olidata aims to become a solid, clearly defined player in the Italian IT and cybersecurity sector.