Smartt, Inc. FKA Carsmartt, Inc. Acquires Costrade S.P.A; Over $1 Billion in Executed Projects
- Blockchain , Cryptocurrencies , FinTech StartUps
- 23.08.2021 02:55 pm
Smartt Inc., is pleased to announce the acquisition of Costrade S.P.A., a Construction company founded in 1951 with a track record of approximately $1 Billion in executed projects during the years of operation. The Company was previously known as Visconti S.P.A. and has been working mostly with the Italian Government for public projects. One of the current projects where Costrade S.P.A is involved, is the LTR (Linea Tranviaria Rapida) which is the “Underground Fast Train” in Campania region in Italy.
Mr. Diego Visconti, Director of Smartt, Inc., commented: “Smartt, Inc. has signed an agreement for the acquisition of 100% of the shares of Costrade S.P.A., Inc. The Company will be a great asset for Smartt, Inc for the construction division. The transaction has closed on August 22, 2021.”
The First deposit for the acquisition will be 50,000,000 restricted shares at two years that is equivalent to a value of approximately $1.1 Million. The balance due will be a determinate by the performance of share price during the next two years from future forecasted growth. Smartt, Inc. will have the option to pay in cash before the 2-year restriction has matured.
Mr. Visconti, Director of Smartt, Inc. added “Costrade S.P.A. will put us on the map as one of the leading Construction Companies in Italy and Europe with a great reputation of executed projects. Our goal is to expand Costrade S.P.A to the United States and LATAM.”