Further details on the agreement will be provided upon closing.
The agreement also includes the provision of technologies and loans for financing the growth of ProSim-TS, plus further investment rounds that will allow TXT to increase its ownership in ProSim-TS up to 100% after the approval of the financial statements of ProSim-TS ending 31 Decem- ber 2025. The agreement consists of an initial capital increase in ProSim-TS reserved to TXT for Euro 0,5 million, against which TXT will own 40% of ProSim-TS. The closing and the initial round of investment will be executed at a later date expected before the end of No- vember 2022.
TXT, a company listed on the STAR Segment of the Mercato Telematico Azionario organised and managed by Borsa Italiana S.p.A., informs that it has signed a binding agreement for the investment in ProSim-TS. This new venture will combine unique TXT software engineering capabilities with cutting-edge proprie- tary pilot training products developed by ProSim-TS the companies will be on show at the European Airline Training Symposium, 2022 in Berlin, showcasing a joint booth from 8 - 9 November, officially wel- coming this new joint venture.With the investment, TXT aims to accelerate the growth plan and expand the product portfolio of ProSim-TS by providing financial capital, unmatched software development capabilities and worldwide presence by leveraging the established positioning of PACE GmbH in the civil aviation market.The initial investment consists of a capital increase in ProSim-TS reserved to TXT, against which TXT will own a minority stake in ProSim-TS, and the agreement includes further investments round that, if exe- cuted, will allow TXT to increase its ownership in ProSim-TS up to 100%.("TXT") announces that has signed an agreement for the investment in the capital of ProSim Training Solutions ("ProSim-TS"), a Dutch-based software house specialized in the develop- ment and marketing of proprietary solutions for the civil aviation training market.
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