AIG Classic has acquired TeamSystem for an undisclosed amount. TeamSystem is a leading technology company specializing in digital business management solutions for companies and professionals, establishing itself as a significant Italian player in the Information and Communication Technology (ICT) sector. The company provides comprehensive solutions for managing small and medium-sized enterprises (SMEs) and professional firms, including accountants, labor consultants, and lawyers. TeamSystem also offers innovative fintech solutions designed to streamline collections, payments, and bank reconciliations.
With a mission to support the competitiveness of businesses and professionals, TeamSystem has positioned itself as a key enabler of digital transformation for its customers. In 2022, the Group reported a turnover of 695 million euros, serving over 2 million customers directly through its digital and cloud platforms. These platforms annually handle more than 415 million electronic invoices, representing a total transaction value of 850 billion euros. TeamSystem's growth strategy has included strategic acquisitions to enhance its cloud and digital transformation offerings, expanding into fintech services, e-commerce, SME rating, and HR management markets. The company employs over 2700 individuals, with 730 software engineers dedicated to research and development.
This acquisition by AIG Classic represents a strategic move to integrate TeamSystem's robust digital ecosystem and extensive market presence. AIG Classic gains TeamSystem's established leadership in providing critical business management software and its strong foothold in the Italian market. The integration is expected to leverage TeamSystem's advanced cloud platforms, deep expertise in digital transformation, and its innovative fintech solutions, aligning with broader industry trends towards comprehensive digital enablement for businesses.
The combined entity is poised to enhance its capacity to drive digital competitiveness for a wide array of customers. By bringing together TeamSystem's proven solutions and AIG Classic's strategic direction, the acquisition aims to accelerate innovation and expand the reach of digital tools, further supporting the digitization programs of SMEs and professionals and making their processes more agile.