MILAN (AIMnews.it) - The Expert System Board of Directors approved a divisible share capital increase, with no option rights, of a maximum amount of €2,999,999.70 through the issue of a maximum of 1,111,111 ordinary shares without nominal value offered at a unit subscription price of €2.70, of which €2.69 will be held as share premium and €0.01 as share capital.

The new ordinary shares were offered for subscription to two institutional investors, Indaco Venture Partners SGR (for an amount of € 1,999,998.00 with the issue of 740,740 shares) and Invesco (for an amount of € 1,000,001.70 with the issue of 370,371 shares).

"We deeply appreciate the confidence that Indaco Venture Partners SGR and Invesco demonstrated in Expert System with this investment"said Walt Mayo, Expert System Group CEO. "Even given the challenges of the COVID-19 pandemic, they recognize that we are uniquely positioned to accelerate our leadership in applying AI to unlock the value of language. Language is data and our platform sets the standard for augmenting insight and accelerating business velocity - both directly in the enterprise and as the language layer in technology solution stacks.”

The new financial resources will be used to support the Group's international expansion plans, starting with the United States, where the goal is to replicate and consolidate the experience gained in Europe in the insurance, banking and financial sectors.